MANAGEMENT AGREEMENT

Mutual Funds Series Trust

On behalf of the Catalyst Funds

Exhibit 1

	Percentage of Average
Fund	Daily Net Assets
Catalyst Small-Cap Insider Buying Fund		1.25	%
Catalyst Insider Buying Fund		1.00	%
Catalyst/SMH High Income Fund		1.00	%
Catalyst/SMH Total Return Income Fund		1.00	%
Catalyst Growth of Income Fund		1.00	%
Catalyst/MAP Global Balanced Fund		1.00	%
Catalyst/MAP Global Equity Fund		1.00	%
Catalyst Dynamic Alpha Fund		1.00	%
Catalyst/CP World Equity Fund*		1.00	%
Catalyst/CP Focus Large Cap Fund*		1.00	%
Catalyst/CP Focus Mid Cap Fund*		1.00	%
Catalyst/Lyons Tactical Allocation Fund		1.25	%
Catalyst/Exceed Defined Risk Fund*		1.25	%
Catalyst/CIFC Floating Rate Income Fund*		1.00	%
Catalyst Hedged Futures Strategy Fund*		1.75	%
Catalyst Buyback Strategy Fund*		1.00	%
Catalyst Insider Income Fund*		0.75	%
Catalyst Systematic Alpha Fund*		1.50	%
Catalyst/Stone Beach Income Opportunity Fund*		1.25	%
Catalyst/Princeton Credit Opportunity Fund*		1.50	%
Catalyst MLP & Infrastructure Fund*		1.25	%
Catalyst Multi-Strategy Fund*		1.75	%
Catalyst Enhanced Core Fund*		0.99	%
Catalyst Hedged Commodity Strategy Fund*		1.75	%
Catalyst/Millburn Hedge Strategy Fund*		1.75	%
Catalyst/Exceed Defined Shield Fund*		1.25	%
Catalyst Enhanced Income Strategy Fund*		1.50	%
Catalyst/Teza Algorithmic Allocation Income Fund*		1.90	%

* For purposes of Section 10 of the Agreement, the execution date of the applicable Exhibit I for the Fund shall be deemed to be the date on which the Fund commences or commenced investment operations.

As amended: November 11, 2019

Mutual Fund Series Trust

By: /s/ Tobias Caldwell

Print Name: Tobias Caldwell

Title: Trustee

Catalyst Capital Advisors LLC

By: /s/ Jerry Szilagyi

Print Name: Jerry Szilagyi

Title: CEO