0001580642-18-002101 Sample Contracts

SARATOGA ADVANTAGE TRUST INVESTMENT MANAGEMENT AGREEMENT JAMES ALPHA STRUCTURED CREDIT VALUE PORTFOLIO
Investment Management Agreement • April 18th, 2018 • Saratoga Advantage Trust • Delaware

THIS INVESTMENT MANAGEMENT AGREEMENT is made as of the [ ] day of [ ], by and between Saratoga Advantage Trust (the “Trust”), on behalf of the James Alpha Structured Credit Value Portfolio, a series of the Trust (the “Fund”), and James Alpha Advisors, LLC (the “Manager”).

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INVESTMENT SUB-ADVISORY AGREEMENT BETWEEN James Alpha Advisors, LLC AND Orange Investment Advisors, LLC REGARDING THE SARATOGA ADVANTAGE TRUST
Investment Sub-Advisory Agreement • April 18th, 2018 • Saratoga Advantage Trust • Delaware

AGREEMENT made this [ ] day of [ ] between James Alpha Advisors, LLC, a New York limited liability company (the “Manager”), and Orange Investment Advisors, LLC, a Delaware limited liability company (the “Sub-Advisor”).

SARATOGA ADVANTAGE TRUST OPERATING EXPENSE LIMITATION AGREEMENT FOR CLASS A, I, C SHARES
Saratoga Advantage Trust Operating Expense Limitation Agreement • April 18th, 2018 • Saratoga Advantage Trust • Delaware

THIS OPERATING EXPENSE LIMITATION AGREEMENT FOR CLASS A, I, AND C SHARES (the “Agreement”) is effective as of the [ ] day of [ ], by and between Saratoga Advantage Trust, (the “Trust”), on behalf of the James Alpha Structured Credit Value Portfolio, a series of the Trust (the “Fund”), and James Alpha Advisors, LLC, the investment adviser to the Fund (the “Manager”).

SARATOGA ADVANTAGE TRUST FEE WAIVER AND OPERATING EXPENSE LIMITATION AGREEMENT FOR CLASS S SHARES
Limitation Agreement • April 18th, 2018 • Saratoga Advantage Trust • Delaware

THIS FEE WAIVER AND OPERATING EXPENSE LIMITATION AGREEMENT FOR CLASS S SHARES (the “Agreement”) is effective as of the [ ] day of [ ], by and between Saratoga Advantage Trust (the “Trust”), on behalf of the James Alpha Structured Credit Value Portfolio, a series of the Trust (the “Fund”), and James Alpha Advisors, LLC, the investment adviser to the Fund (the “Manager”).

SUB-EXPENSE LIMITATION AGREEMENT FOR CLASS S SHARES
Sub-Expense Limitation Agreement • April 18th, 2018 • Saratoga Advantage Trust • Delaware

THIS SUB-EXPENSE LIMITATION AGREEMENT FOR CLASS S SHARES (the “Agreement”) is effective as of the [ ] day of [ ], 2018, by and between James Alpha Advisors, LLC (the “Manager”), the investment adviser to the James Alpha Structured Credit Value Portfolio (the “Portfolio”), a series of The Saratoga Advantage Trust (the “Trust”), and Orange Investment Advisors, LLC (the “Advisor”), the investment sub-advisor to the Portfolio.

MARKETING AND DISTRIBUTION SUPPORT AGREEMENT BETWEEN JAMES ALPHA ADVISORS, LLC AND Orange Investment Advisors, LLC REGARDING THE
Marketing and Distribution Support Agreement • April 18th, 2018 • Saratoga Advantage Trust • Delaware

THIS MARKETING AND DISTRIBUTION SUPPORT AGREEMENT (the “Agreement”) is effective as of the [ ] day of [ ], between James Alpha Advisors, LLC, a New York limited liability company (the “Manager”), and Orange Investment Advisors, LLC, a Delaware limited liability company (the “Sub-Advisor”).

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