0001580642-19-003784 Sample Contracts

ADVISORS PREFERRED TRUST OPERATING EXPENSES LIMITATION AGREEMENT KENSINGTON MANAGED INCOME FUND
Operating Expenses Limitation Agreement • August 21st, 2019 • Advisors Preferred Trust • Delaware

THIS OPERATING EXPENSES LIMITATION AGREEMENT (the "Agreement") is effective as of the 20th day of August, 2019, by and between ADVISORS PREFERRED TRUST, a Delaware statutory trust (the "Trust"), on behalf of the Kensington Managed Income Fund, (the "Fund") a series of the Trust and the Adviser of such Fund, Advisors Preferred, LLC (the "Adviser").

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TWELFTH AMENDMENT TO THE CUSTODY AGREEMENT
Custody Agreement • August 21st, 2019 • Advisors Preferred Trust

THIS TWELFTH AMENDMENT, effective as of August 19, 2019, to the Custody Agreement, originally made and entered into as of January 4, 2013, as amended May 16, 2013 July 24, 2013, October 5, 2013, October 29, 2013, April 10, 2014, November 18, 2014, February 17, 2015, October 28, 2015, August 1, 2016, February 19, 2019, March 28, 2019, and August 12, 2019 (the "Agreement''), is entered into by and between ADVISORS PREFERRED TRUST, a Delaware statutory trust, (the "Trust") and U.S. BANK NATIONAL ASSOCIATION, a national banking association (the "Custodian").

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