0000910472-14-002107 Sample Contracts

FUND SERVICES AGREEMENT between ARROW INVESTMENTS TRUST and
Fund Services Agreement • May 12th, 2014 • Arrow Investments Trust • New York

THIS FUND SERVICES AGREEMENT (the “Agreement”) made as of the 18th day of January, 2012, by and between ARROW INVESTMENTS TRUST, a Delaware statutory trust having its principal office and place of business at 2943 Olney Sandy Springs Road, Suite A, Olney, Maryland 20832 (the "Trust") and GEMINI FUND SERVICES, LLC, a Nebraska limited liability company having its principal office and place of business at 4020 South 147th Street, Omaha, Nebraska 68137 (“GFS”). This Agreement replaces and supersedes all prior understandings and agreements between the parties hereto for the services described below.

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UNDERWRITING AGREEMENT Between ARROW INVESTMENTS TRUST and ARCHER DISTRIBUTORS, LLC
Underwriting Agreement • May 12th, 2014 • Arrow Investments Trust • Delaware

THIS UNDERWRITING AGREEMENT effective the 1st day of March 2014 by and between ARROW INVESTMENTS TRUST, a Delaware statutory trust, having its principal office and place of business at 2943 Olney-Sandy Spring Road, Suite A, Olney, Maryland 20832 (the “Trust”), and ARCHER DISTRIBUTORS, LLC, a Delaware limited liability company having its principal office and place of business at 2943 Olney-Sandy Spring Road, Suite A, Olney, Maryland 20832 (“Archer”).

FIRST AMENDMENT to FUND SERVICES AGREEMENT
Fund Services Agreement • May 12th, 2014 • Arrow Investments Trust

THIS AMENDMENT (this “Amendment”), effective as of March 28, 2014, by and among Arrow Investments Trust, a statutory trust organized under the laws of the State of Delaware (the “Trust”), and Gemini Fund Services, LLC, a Nebraska limited liability company (“Gemini”) (collectively, the “Parties”).

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