0000910472-08-000636 Sample Contracts

INVESTMENT ADVISORY AGREEMENT Between NORTHERN LIGHTS FUND TRUST and EM CAPITAL MANAGEMENT, LLC
Investment Advisory Agreement • September 8th, 2008 • Northern Lights Fund Trust • New York

AGREEMENT, made as of May 29, 2008 between NORTHERN LIGHTS FUND TRUST, a Delaware statutory trust (the "Trust"), on behalf of EM Capital India Gateway Fund, and EM CAPITAL MANAGEMENT, LLC, a Delaware Limited Liability Company (the "Adviser") located at 920 Country Club Drive, Suite 1-E, Morgana, California 94556.

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NORTHERN LIGHTS FUND TRUST OPERATING EXPENSES LIMITATION AND SECURITY AGREEMENT EM CAPITAL INDIA GATEWAY FUND
And Security Agreement • September 8th, 2008 • Northern Lights Fund Trust • New York

THIS OPERATING EXPENSES LIMITATION AND SECURITY AGREEMENT (the “Agreement”) is effective as of the 29TH day of May, 2008, by and between NORTHERN LIGHTS FUND TRUST, a Delaware business trust (the “Trust”), on behalf of EM CAPITAL INDIA GATEWAY FUND (the “Fund”) a series of the Trust, and the advisor of the Fund, EM CAPITAL MANAGEMENT , LLC (the “Advisor”).

DISTRIBUTION PLAN AND AGREEMENT PURSUANT TO RULE 12B-1 UNDER THE INVESTMENT COMPANY ACT OF 1940 NORTHERN LIGHTS FUND TRUST On behalf of its series EM CAPITAL INDIA GATEWAY FUND
Distribution Plan and Agreement • September 8th, 2008 • Northern Lights Fund Trust

PLAN AND AGREEMENT made as of May 29, 2008 by and between Northern Lights Fund Trust (the "Trust") on behalf of its separate series, EM CAPITAL INDIA GATEWAY FUND (the “Fund”) and the distributor for the Fund, Northern Lights Distributors, LLC (the “DISTRIBUTOR”).

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