0001580642-22-006213 Sample Contracts

INVESTMENT ADVISORY AGREEMENT
Investment Advisory Agreement • December 9th, 2022 • Arrow Investments Trust • New York

AGREEMENT made as of October 1, 2022 between ARROW INVESTMENT TRUST, a Delaware statutory trust (the "Trust"), and ARROW INVESTMENT ADVISORS LLC (the “Adviser”), a Delaware limited liability company registered as an investment adviser under the Investment Advisers Act of 1940, as amended (the “Advisers Act”).

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INVESTMENT ADVISORY AGREEMENT Between ADA FUND LIMITED and ARROW INVESTMENT ADVISORS, LLC
Investment Advisory Agreement • December 9th, 2022 • Arrow Investments Trust • New York

AGREEMENT, made as of December 9, 2022 between ADA Fund Limited, an exempt, Cayman Islands Corporation of Limited Liability (the “Fund”), and Arrow Investment Advisors, LLC, a limited liability company organized and existing under the laws of the State of Delaware (the "Adviser") located at 2943 Olney-Sandy Spring Road, Suite A, Olney, MD 20832.

CUSTODIAN AND TRANSFER AGENT AGREEMENT
Custodian and Transfer Agent Agreement • December 9th, 2022 • Arrow Investments Trust

WHEREAS, BBH&Co. and the Fund entered into a Custodian and Transfer Agent Agreement, dated as of October 1, 2014 (as amended, modified and/or supplemented to date, the “Agreement;” all capitalized terms used but not defined herein shall have the meanings set forth in the Agreement); and

Schedule B Fee Schedule
Arrow Investments Trust • December 9th, 2022

This Schedule B is part of the ETF Distribution Agreement effective December 9, 2022 (the "Agreement") by and between Arrow Investments Trust (the "Trust") and Archer Distributors, LLC ("Archer"). This Fee Schedule replaces any existing fee schedule with respect to the Funds identified herein.

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