EXHIBIT (l) (10)



                            CALAMOS INVESTMENT TRUST

                             SUBSCRIPTION AGREEMENT

1. The undersigned agrees to purchase from Calamos Investment Trust (the
"Trust") the number of shares (the "Shares") of Calamos Global Equity Fund (the
"Fund"), without par value, set forth at the end of this Agreement on the terms
and conditions set forth herein and in the preliminary prospectus ("Preliminary
Prospectus") described below, and hereby tenders the amount of the price
required to purchase these Shares at the price set forth at the end of this
Agreement. The undersigned understands that the Trust has prepared a
registration statement or an amendment thereto for filing with the Securities
and Exchange Commission on Form N-1A, which contains the Preliminary Prospectus
that describes the Trust, the Fund and the Shares. By its signature hereto, the
undersigned hereby acknowledges receipt of a copy of the Preliminary Prospectus.
The undersigned recognizes that the Fund will not be fully operational until
such time as it commences the public offering of its shares. Accordingly, a
number of features of the Fund described in the Preliminary Prospectus,
including, without limitation, the declaration and payment of dividends, and
redemption of shares upon request of shareholders, are not, in fact, in
existence at the present time and will not be instituted until the Fund's
registration under the Securities Act of 1933, as amended (the "Securities
Act"), is made effective.

2. The undersigned hereby represents and warrants as follows:

      (a)   It is aware that no Federal or state agency has made any findings or
            determination as to the fairness for investment, nor any
            recommendation or endorsement, of the Shares;

      (b)   It has such knowledge and experience of financial and business
            matters as will enable it to utilize the information made available
            to it in connection with the offering of the Shares, to evaluate the
            merits and risks of the prospective investment and to make an
            informed investment decision;

      (c)   It recognizes that the Fund has no financial or operating history
            and, further, that investment in the Fund involves certain risks,
            and it has taken full cognizance of and understands all of the risks
            related to the purchase of the Shares, and it acknowledges that it
            has suitable financial resources and anticipated income to bear the
            economic risk of such an investment;

      (d)   It is purchasing the Shares for its own account, for investment, and
            not with any present intention of redemption, distribution, or
            resale of the Shares, either in whole or in part;

      (e)   It will not sell the Shares purchased by it without registration of
            the Shares under the Securities Act or exemption therefrom;

      (f)   This Agreement and the Preliminary Prospectus and such material
            documents relating to the Fund as it has requested have been
            provided to it by the Trust and have been reviewed carefully by it;
            and



      (g)   It has also had the opportunity to ask questions of, and receive
            answers from, representatives of the Trust concerning the Fund and
            the terms of the offering.

3. The undersigned recognizes that the Trust reserves the unrestricted right to
reject or limit any subscription and to close the offer at any time.

Number of Shares of the Fund: 2,600,000 Class A shares at a subscription price
of $10.00 per share, 100,000 Class B shares at a subscription price of $10.00
per share, 100,000 Class C shares at a subscription price of $10.00 per share
and 100,000, Class I shares at a subscription price of $10.00 per share and
Class R shares at a subscription price of $10.00 per share and 100,000 Class R
shares at a subscription price of $10.00 per share for an aggregate price of
$30,000,000 for Calamos Global Equity Fund.

IN WITNESS WHEREOF, the undersigned has executed this instrument this 1st day of
March, 2007.

                                               CALAMOS ADVISORS LLC

                                               By: /s/ James S. Hamman, Jr.
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                                               Name: James S. Hamman, Jr.
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                                               Title: Executive Vice President,
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                                                      General Counsel and
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                                                      Secretary
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