0001580642-19-002571 Sample Contracts

ADVISORS PREFERRED TRUST OPERATING EXPENSES LIMITATION AGREEMENT KENSINGTON MANAGED INCOME FUND
Operating Expenses Limitation Agreement • May 21st, 2019 • Advisors Preferred Trust • Delaware

THIS OPERATING EXPENSES LIMITATION AGREEMENT (the "Agreement") is effective as of the 15th day of May, 2019, by and between ADVISORS PREFERRED TRUST, a Delaware statutory trust (the "Trust"), on behalf of the Kensington Managed Income Fund, (the "Fund") a series of the Trust and the Adviser of such Fund, Advisors Preferred, LLC (the "Adviser").

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UNDERWRITING AGREEMENT Among ADVISORS PREFERRED TRUST ON BEHALF OF KENSINGTON MANAGED INCOME FUND, A SERIES OF THE ADVISORS PREFERRED TRUST And ADVISORS PREFERRED, LLC And CEROS FINANCIAL SERVICES INC.
Underwriting Agreement • May 21st, 2019 • Advisors Preferred Trust • Delaware

THIS UNDERWRITING AGREEMENT effective the 26th day of May, 2019 by and between ADVISORS PREFERRED TRUST on behalf of KENSINGTON MANAGED INCOME FUND, A SERIES OF ADVISORS PREFERRED TRUST, a Delaware statutory trust (the "Trust"), having its principal office and place of business at 1445 Research Boulevard, Suite 530, Rockville, MD 20850 (the "FUND" and as the context requires, FUND also means the Trust on behalf of the FUND), ADVISORS PREFERRED, LLC, a Maryland limited liability company having its principal office and place of business at 1445 Research Boulevard, Suite 530, Rockville, MD 20850 ("AP"), and CEROS FINANCIAL SERVICES INC., a Massachusetts corporation having its principal office and place of business at 1445 Research Boulevard, Suite 530, Rockville Maryland 20850 ("CEROS")

TENTH AMENDMENT TO THE CUSTODY AGREEMENT
Custody Agreement • May 21st, 2019 • Advisors Preferred Trust

THIS TENTH AMENDMENT, effective as of February 19, 2019, to the Custody Agreement, originally made and entered into as of January 4, 2013, as amended May 16, 2013 July 24, 2013, October 5, 2013, October 29, 2013, April 10, 2014, November 18, 2014, February 17, 2015, October 28, 2015, and August 1, 2016 (the "Agreement''), is entered into by and between ADVISORS PREFERRED TRUST, a Delaware statutory trust, (the "Trust") and U.S. BANK NATIONAL ASSOCIATION, a national banking association (the "Custodian").

APPENDIX IV-5
Fund Services Agreement • May 21st, 2019 • Advisors Preferred Trust

This Appendix IV-5 is part of the Fund Services Agreement (the “Agreement”), dated January 1, 2018, between Advisors Preferred Trust (the “Trust”) and Gemini Fund Services, LLC (“GFS”). Set forth below are the Services elected by the Fund(s) identified on this Appendix IV-5 along with the associated Fees. Capitalized terms used herein that are not otherwise defined shall have the same meanings ascribed to them in the Agreement.

ADVISORS PREFERRED TRUST AMENDED AND RESTATED INVESTMENT ADVISORY AGREEMENT APPENDIX A-3 (Effective February 19, 2019)
Investment Advisory Agreement • May 21st, 2019 • Advisors Preferred Trust

IN WITNESS WHEREOF, the parties have caused this Agreement to be signed by their respective officers thereunto duly authorized as of the date and year first above written.

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