0001464413-12-000177 Sample Contracts

CUSTODY AGREEMENT Dated September 9, 2011 Between UMB BANK, N.A. and STARBOARD INVESTMENT TRUST On Behalf Of Each Of Its Fund Series and THE NOTTINGHAM COMPANY Solely In Its Role As Payor Per Section 11
Custody Agreement • September 26th, 2012 • Starboard Investment Trust

This agreement made as of the date first set forth above between UMB Bank, n.a., a national banking association with its principal place of business located in Kansas City, Missouri (hereinafter “Custodian”), the Starboard Investment Trust, a Delaware statutory trust, on behalf of each of the Funds listed on Appendix B hereof, together with such additional Funds which shall be made parties to this Agreement by the execution of Appendix B hereto (individually, a “Fund” and collectively, the “Funds”), and The Nottingham Company, a North Carolina corporation, solely in its role as payor in accordance with Section 11.

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INVESTMENT ADVISORY AGREEMENT
Investment Advisory Agreement • September 26th, 2012 • Starboard Investment Trust • Delaware

This Investment Advisory Agreement (“Agreement”) is made and entered into effective as of August 7, 2012 by and between CV Investment Advisors, LLC, a Delaware limited liability company (the “Advisor”), and the Starboard Investment Trust (the “Trust”), a Delaware statutory trust, on behalf of the Prophecy Alpha Trading Fund (the “Fund”), a series of the Trust.

DIVIDEND DISBURSING AND TRANSFER AGENT AGREEMENT
Dividend Disbursing and Transfer Agent Agreement • September 26th, 2012 • Starboard Investment Trust • North Carolina

THIS DIVIDEND DISBURSING AND TRANSFER AGENT AGREEMENT (“Agreement”) is made and entered into as of July 16, 2009 by and between STARBOARD INVESTMENT TRUST, a Delaware statutory trust (“Trust”), and NOTTINGHAM SHAREHOLDER SERVICES, LLC, a North Carolina limited liability company (“Transfer Agent”).

DISTRIBUTION AGREEMENT
Distribution Agreement • September 26th, 2012 • Starboard Investment Trust

This AGREEMENT, dated July 16, 2009 between STARBOARD INVESTMENT TRUST, a statutory trust organized under the laws of the State of Delaware (the “Trust”) and CAPITAL INVESTMENT GROUP, INC., a North Carolina corporation (the “Distributor”).

Prophecy Alpha Trading Fund Operating Plan
Operating Plan • September 26th, 2012 • Starboard Investment Trust

This Operating Plan, made and entered into August 7, 2012, is entered into by and between CV Investment Advisors, LLC (“Advisor”) and The Nottingham Company (“Administrator”) with respect to the Prophecy Alpha Trading Fund (the “Fund”), a series of the Starboard Investment Trust (“Trust”), a Delaware statutory trust.

Fund Accounting And Administration Agreement Dated: August 7, 2012
Fund Accounting and Administration Agreement • September 26th, 2012 • Starboard Investment Trust • North Carolina

This Fund Accounting and Administration Agreement (“Agreement”), is entered into as of the date noted above by and between the Starboard Investment Trust, a Delaware statutory trust (“Trust”), and The Nottingham Company, a North Carolina corporation (“Administrator”).

INVESTMENT SUB-ADVISORY AGREEMENT
Investment Sub-Advisory Agreement • September 26th, 2012 • Starboard Investment Trust • Delaware

This Investment Sub-Advisory Agreement (“Agreement”) is made and entered into as of August 7, 2012 by and between CV Investment Advisors, LLC, a Delaware limited liability company (“Advisor”) and Prophecy Asset Management, Inc., a Delaware corporation (“Sub-Advisor”).

FORM OF SUBSCRIPTION AGREEMENT BETWEEN THE TRUST AND THE INVESTORS
Subscription Agreement • September 26th, 2012 • Starboard Investment Trust

[NAME] (the “Purchaser”) subscribes to purchase a beneficial interest (“Interest”) of the [FUND] (“Fund”), a series of Starboard Investment Trust, in the amount of [$] for [___] shares at net asset value of [$10.00] per share, in consideration for which the Purchaser agrees to transfer to you upon demand cash in the amount of [$].

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