0001580642-15-001480 Sample Contracts

INVESTMENT ADVISORY AGREEMENT BETWEEN
Investment Advisory Agreement • March 31st, 2015 • Saratoga Advantage Trust

AGREEMENT made this 23rd day of March, 2015 between James Alpha Management, LLC a Delaware limited liability company (the "Manager") and Yorkville Capital Management, LLC, a Delaware limited liability company (the "Advisor").

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SARATOGA ADVANTAGE TRUST INVESTMENT MANAGEMENT AGREEMENT JAMES ALPHA YORKVILLE MLP PORTFOLIO
Investment Management Agreement • March 31st, 2015 • Saratoga Advantage Trust • Delaware

THIS INVESTMENT MANAGEMENT AGREEMENT is made as of the 23rd day of March, 2015, by and between Saratoga Advantage Trust (the “Trust”), on behalf of the James Alpha Yorkville MLP Portfolio, a series of the Trust (the “Fund”), and James Alpha Management, LLC (the “Manager”).

SARATOGA ADVANTAGE TRUST OPERATING EXPENSE LIMITATION AGREEMENT JAMES ALPHA YORKVILLE MLP PORTFOLIO
Expense Limitation Agreement • March 31st, 2015 • Saratoga Advantage Trust • New York

THIS OPERATING EXPENSE LIMITATION AGREEMENT (the “Agreement”) is effective as of the 23rd day of March, 2015, by and between Saratoga Advantage Trust, (the “Trust”), on behalf of the James Alpha Yorkville MLP Portfolio, a series of the Trust (the “Fund”), and James Alpha Management, LLC, the investment adviser to the Fund (the “Manager”).

SUB-EXPENSE LIMITATION AGREEMENT JAMES ALPHA YORKVILLE MLP PORTFOLIO
Expense Limitation Agreement • March 31st, 2015 • Saratoga Advantage Trust • New York

THIS SUB-EXPENSE LIMITATION AGREEMENT (the “Agreement”) is effective as of the 23rd day of March, 2015, by and between James Alpha Management, LLC (the “Manager”), the investment adviser to the James Alpha Yorkville MLP Portfolio (the “Fund”), a series of Saratoga Advantage Trust (the “Trust”), and Yorkville Capital Management, LLC, the investment sub-adviser to the Fund (the “Advisor”).

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