CFFC Community Financial Corp. (MM)

JOINT INSURED AGREEMENT

Ladenburg Thalmann Alternative Strategies Fund

Northern Lights Fund Trust

Northern Lights Variable Trust

Pursuant to Section 270.71(g)-1(f) of the Regulations issued under the Investment Company Act of 1940;

WHEREAS, the Ladenburg Thalmann Alternative Strategies Fund (“Ladenburg”), Northern Lights Fund Trust ("NLFT") and Northern Lights Variable Trust ("NLVT") obtained an investment company blanket bond, covering larceny and embezzlement and certain other acts, pursuant to the direction of their respective Board of Trustees, of which the issuer is St. Paul Fire and Marine Insurance Company, Bond No. 14S27765 with coverage in the amount of $4,000,000; and

WHEREAS, Ladenburg, NLFT and NLVT (each a "Fund") are desirous of setting forth their relationship in regards to said bond;

NOW THEREFORE, BE IT AGREED AS FOLLOWS:

In the event recovery on the bond is received as a result of loss sustained by more than one named insured, each Fund shall receive an equitable and proportionate share of the recovery, but at least equal to the amount which it would have received had it provided and maintained a single insured bond with a minimum coverage required by 270.17(g)(1) of the regulations issued pursuant to the Investment Company Act of 1940.

DATED:

January 4, 2013

 SECRETARY’S CERTIFICATE

I, James P. Ash, being the recording secretary of the meeting of the Board of Trustees of the Ladenburg Thalmann Alternative Strategies Fund (“Ladenburg”), Northern Lights Fund Trust (“NLFT”) and Northern Lights Variable Trust (“NLVT”) (each a “Trust” and collectively the “Trusts”), duly certify and attest that the Board of Trustees of the Trusts adopted the following resolutions on June 20, 2012:

WHEREAS, the Board of Trustees of the Trusts has determined that it is in the best interests of the Trusts to obtain fidelity bond coverage covering the Trusts against larceny and embezzlement by, among others, officers and employees of the Trusts, in accordance with the requirements of Rule 17g-1 promulgated by the U.S. Securities and Exchange Commission under Section 17(g) of the Investment Company Act of 1940, as amended (the “1940 Act”), in such form and amounts which would cover gross assets in a range that would be appropriate for each Trust (see the attached chart of coverage requirements), such coverage to be bound from the date of effectiveness of each Trust’s registration with the Securities and Exchange Commission under the 1940 Act;

IT IS THEREFORE RESOLVED, that the appropriate officers of the Trusts be, and each of them hereby is, authorized to make any and all payments and to do any and all other acts, in the name of the Trusts and the Trusts’ Trustees and officers, as they or any of them, may determine to be necessary or appropriate in connection with obtaining a fidelity bond; and

FURTHER RESOLVED, that the appropriate officers of the Trusts be, and each of them hereby is, authorized to make any and all payments and to do any and all other acts, in the name of the Trusts and the Trusts’ Trustees and officers, as they or any of them, may determine to be necessary or appropriate in connection with obtaining a Trustees’ and Officers’ Errors and Omissions Liability Insurance Policy.

/s/ James P. Ash

James P. Ash

Secretary of the Meeting

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