0001580642-22-005301 Sample Contracts

INVESTMENT ADVISORY AGREEMENT
Investment Advisory Agreement • October 21st, 2022 • Arrow Investments Trust • New York

AGREEMENT made as of October 1, 2022 between ARROW INVESTMENT TRUST, a Delaware statutory trust (the "Trust"), and ARROW INVESTMENT ADVISORS LLC (the “Adviser”), a Delaware limited liability company registered as an investment adviser under the Investment Advisers Act of 1940, as amended (the “Advisers Act”).

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ETF DISTRIBUTION AGREEMENT
Etf Distribution Agreement • October 21st, 2022 • Arrow Investments Trust • Delaware

This ETF Distribution Agreement (this "Agreement") is effective the 22nd day of August, 2022, between Arrow Investments Trust, a Delaware statutory trust (the "Trust"), on behalf of itself and the fund(s) listed on Schedule B, as may be amended from time to time (each, a "Fund", and collectively, the "Funds") and Archer Distributors, LLC, a Delaware limited liability company ("Archer" or the "Distributor").

INVESTMENT ADVISORY AGREEMENT Between AAMS FUND LIMITED and ARROW INVESTMENT ADVISORS, LLC
Investment Advisory Agreement • October 21st, 2022 • Arrow Investments Trust • New York

AGREEMENT, made as of October 21, 2022 between AAMS Fund Limited, an exempt, Cayman Islands Corporation of Limited Liability (the “Fund”), and Arrow Investment Advisors, LLC, a limited liability company organized and existing under the laws of the State of Delaware (the "Adviser") located at 2943 Olney-Sandy Spring Road, Suite A, Olney, MD 20832.

APPENDIX III LIST OF FUNDS SERVICES & FEES
Fund Services Agreement • October 21st, 2022 • Arrow Investments Trust

This Appendix III is part of the Fund Services Agreement dated September 27, 2021 (the “Agreement”), between Arrow Investments Trust, Arrow ETF Trust (the “Trusts”) and Ultimus Fund Solutions, LLC (“UFS”). Set forth below are the Services elected by the Fund(s) identified on this Appendix III along with the associated Fees. Capitalized terms used herein that are not otherwise defined shall have meanings ascribed to them in the Agreement.

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