0001580642-19-003622 Sample Contracts

INVESTMENT ADVISORY AGREEMENT Between ADVISORS PREFERRED TRUST and ADVISORS PREFERRED LLC
Investment Advisory Agreement • August 9th, 2019 • Advisors Preferred Trust • Maryland

AGREEMENT, is as of August 1, 2019, between Advisors Preferred Trust, a Delaware statutory trust (the "Trust"), and Advisors Preferred LLC, a Maryland limited liability company (the "Adviser") located at 1445 Research Blvd, Suite 530, Rockville, MD 20850.

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FUND SERVICES AGREEMENT between ADVISORS PREFERRED TRUST
Fund Services Agreement • August 9th, 2019 • Advisors Preferred Trust • New York

THIS FUND SERVICES AGREEMENT (this “Agreement”) dated the 1st day of January, 2018 (the “Effective Date”), by and between ADVISORS PREFERRED TRUST, a Delaware statutory trust having its principal office and place of business at 1445 Research Boulevard, Suite 530, Rockville, Maryland 20850 (the "Trust") and GEMINI FUND SERVICES, LLC, a Nebraska limited liability company having its principal office and place of business at 17605 Wright Street, Suite 2, Omaha, Nebraska 68130 (“GFS”). This Agreement replaces and supersedes all prior understandings and agreements between the parties hereto for the services described below.

INVESTMENT ADVISORY AGREEMENT Between Hundredfold Select Alternative Fund Limited and ADVISORS PREFERRED LLC
Investment Advisory Agreement • August 9th, 2019 • Advisors Preferred Trust • Maryland

AGREEMENT, made with effect as of August 9, 2019 between Hundredfold Select Alternative Fund Limited, an Exempted Company incorporated in the Cayman Islands with Limited Liability (the "Fund"), and Advisors Preferred LLC, a Maryland limited liability company (the "Adviser") located at 1445 Research Blvd, Suite 530, Rockville, MD 20850.

SUBADVISORY AGREEMENT
Subadvisory Agreement • August 9th, 2019 • Advisors Preferred Trust • Maryland

THIS "AGREEMENT" is made and entered into as of August 9, 2019, by and between Advisors Preferred, LLC (the "Adviser"), a Maryland limited liability company registered under the Investment Advisers Act of 1940, as amended (the "Advisers Act"), and Hundredfold Advisors, LLC, a Virginia limited liability company (the "Subadviser") (the Adviser and the Subadviser, collectively, the "Parties") and also registered under the Advisers Act, with respect to Hundredfold Select Alternative Fund Limited, an Exempted Company incorporated in the Cayman Islands with Limited Liability (the "Fund").

CEROS FINANCIAL SERVICES INC. DISTRIBUTION AGREEMENT July 1, 2019
Distribution Agreement • August 9th, 2019 • Advisors Preferred Trust • Maryland

THIS AGREEMENT is by and between Advisors Preferred Trust, a Delaware statutory trust (the "Trust") with respect to each series of the Trust listed on the Appendix below (each a "Fund" and together the "Funds"), and Ceros Financial Services Inc. ("Ceros"), a corporation organized and existing under the laws of the Commonwealth of Massachusetts (the "Distributor").

INVESTMENT SUB-ADVISORY AGREEMENT SUBADVISORY AGREEMENT
Investment Sub-Advisory Agreement • August 9th, 2019 • Advisors Preferred Trust • Delaware

THIS AGREEMENT is made and entered into as of the 9th day of August, 2019, by and between Advisors Preferred, LLC (the "Adviser"), a Maryland limited liability company registered under the Investment Advisers Act of 1940, as amended (the "Advisers Act"), and Hundredfold Advisors, LLC, a Virginia limited liability company (the "Subadviser") (the Adviser and the Subadviser, collectively, the "Parties") and also registered under the Advisers Act, with respect to Hundredfold Select Alternative Fund (the "Fund"), a series of the ADVISORS PREFERRED TRUST, a Delaware statutory trust (the "Trust").

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 • August 9th, 2019 • Advisors Preferred Trust • Delaware

THIS UNDERWRITING AGREEMENT effective the 1st day of July, 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").

ELEVENTH AMENDMENT TO THE CUSTODY AGREEMENT
Custody Agreement • August 9th, 2019 • Advisors Preferred Trust

THIS ELEVENTH AMENDMENT, effective as of August 12, 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, August 1, 2016, February 19, 2019, and March 28, 2019 (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").

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