Robeco-Sage Multi-Strategy Institutional Fund, L.L.C. Sample Contracts

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JOINT INSURED AGREEMENT
Joint Insured Agreement • May 20th, 2009 • Robeco-Sage Multi-Strategy Institutional Fund, L.L.C.
AGREEMENT BETWEEN
Master/Feeder Agreement • December 31st, 2008 • Robeco-Sage Multi-Strategy Institutional Fund, L.L.C. • New York
JOINT INSURED AGREEMENT
Joint Insured Agreement • May 12th, 2011 • Robeco-Sage Multi-Strategy Institutional Fund, L.L.C.

WHEREAS, each of Robeco-Sage Multi-Strategy Fund, L.L.C, Robeco-Sage Multi-Strategy Master Fund, L.L.C., Robeco-Sage Multi-Strategy Institutional Fund, L.L.C., Robeco-Sage Triton Fund, L.L.C., Robeco-Sage Multi-Strategy TEI Master Fund, L.L.C., Robeco-Sage Multi-Strategy TEI Institutional Fund, L.L.C. and Robeco-Sage Multi-Strategy TEI Fund, L.L.C. (each, a "Fund" and collectively, the "Funds") is a non-diversified, closed-end management investment company registered as such under the Investment Company Act of 1940, as amended (the "1940 Act"); and

DISTRIBUTION AGREEMENT
Distribution Agreement • March 2nd, 2012 • Arden Sage Multi-Strategy Institutional Fund, L.L.C. • Delaware

THIS AGREEMENT is made and entered into as of January 11, 2012, by and between Arden Securities LLC, a New York limited liability company (the “Distributor”) and each of the Funds listed on Exhibit A attached hereto (each a Fund, and together, the “Funds”).

INVESTMENT ADVISORY AGREEMENT
Investment Advisory Agreement • March 2nd, 2012 • Arden Sage Multi-Strategy Institutional Fund, L.L.C. • New York

THIS INVESTMENT ADVISORY AGREEMENT is made as of the 1st day of October, 2011, by and between Arden Sage Multi-Strategy Institutional Fund, L.L.C., a Delaware limited liability company (the "Fund"), and Arden Asset Management LLC, a Delaware limited liability company (the "Investment Adviser").

ARDEN SAGE MULTI-STRATEGY INSTITUTIONAL FUND, L.L.C. AMENDED AND RESTATED EXPENSE LIMITATION AND REIMBURSEMENT AGREEMENT
Expense Limitation and Reimbursement Agreement • July 18th, 2013 • Arden Sage Multi-Strategy Institutional Fund, L.L.C. • New York

THIS AMENDED AND RESTATED EXPENSE LIMITATION AND REIMBURSEMENT AGREEMENT is made as of the 1st day of January, 2012, by and between Arden Sage Multi-Strategy Institutional Fund, L.L.C., a Delaware limited liability company (the "Fund"), and Arden Asset Management LLC, a Delaware limited liability company ("Arden"):

MEMBER SERVICES AGREEMENT
Member Services Agreement • March 2nd, 2012 • Arden Sage Multi-Strategy Institutional Fund, L.L.C. • Delaware

AGREEMENT made as of January 11, 2012, by and between ARDEN SECURITIES LLC, as distributor (“Distributor”), and ARDEN SAGE MULTI-STRATEGY INSTITUTIONAL FUND, L.L.C., a Delaware limited liability company (the “Fund”).

AMENDED AND RESTATED MEMBER SERVICES AGREEMENT
Member Services Agreement • June 22nd, 2011 • Robeco-Sage Multi-Strategy Institutional Fund, L.L.C. • New York

AMENDED AND RESTATED AGREEMENT, made as of the 1st day of April, 2011, by and between ROBECO SECURITIES, L.L.C., as servicing agent ("Service Agent"), and ROBECO-SAGE MULTI-STRATEGY INSTITUTIONAL FUND, L.L.C., a Delaware limited liability company (the "Fund").

WITNESSETH:
Member Services Agreement • December 31st, 2008 • Robeco-Sage Multi-Strategy Institutional Fund, L.L.C. • New York
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