0001398344-12-002118 Sample Contracts

DISTRIBUTION AGREEMENT
Distribution Agreement • June 29th, 2012 • Investment Managers Series Trust • Delaware

THIS AGREEMENT is made and entered into as of this 29th day of June 2012, by and among Investment Managers Series Trust, a Delaware statutory trust (the “Client”), Perimeter Capital Management, a Delaware limited liability company (the “Adviser”) and Foreside Fund Services, LLC, a Delaware limited liability company (the “Distributor”).

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INVESTMENT ADVISORY AGREEMENT BETWEEN INVESTMENT MANAGERS SERIES TRUST AND PERIMETER CAPITAL MANAGEMENT, LLC
Investment Advisory Agreement • June 29th, 2012 • Investment Managers Series Trust • Delaware

THIS INVESTMENT ADVISORY AGREEMENT (the “Agreement”), dated as of June 29, 2012 between the Investment Managers Series Trust, a Delaware statutory trust (the “Trust”), on behalf of its series listed in Appendix A, as amended from time to time (the “Fund”), and Perimeter Capital Management, LLC, a Delaware Corporation (the “Advisor”).

INVESTMENT MANAGERS SERIES TRUST OPERATING EXPENSES LIMITATION AGREEMENT
Operating Expenses Limitation Agreement • June 29th, 2012 • Investment Managers Series Trust • Delaware

THIS OPERATING EXPENSES LIMITATION AGREEMENT (the “Agreement”) is effective as of June 29, 2012 by and between INVESTMENT MANAGERS SERIES TRUST, a Delaware statutory trust (the “Trust”), on behalf of its series listed in Appendix A, as amended from time to time (the “Fund”), a series of the Trust, and the Advisor of the Fund, Perimeter Capital Management, LLC (the “Advisor”).

SUBSCRIPTION AGREEMENT
Subscription Agreement • June 29th, 2012 • Investment Managers Series Trust

THIS SUBSCRIPTION AGREEMENT is entered into as of the __ day of ______ 2012, between Investment Managers Series Trust, a statutory trust organized and existing under the laws of Delaware (the "Trust"), and ______________________________ (the "Purchaser").

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