JOINT INSURED AGREEMENT
WHEREAS, each of Xxxxx Xxxx Multi-
Strategy Fund, L.L.C, Xxxxx Xxxx
Multi-Strategy Master Fund, L.L.C.,
Xxxxx Xxxx Multi-Strategy
Institutional Fund, L.L.C., Xxxxx
Xxxx Triton Fund, L.L.C. and
Xxxxx Xxxx Multi-Strategy TEI
Institutional Fund, L.L.C.
(together, the "Xxxxx Xxxx 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
WHEREAS, Arden Alternative
Strategies Fund ("AASF" and,
collectively with the "Xxxxx Xxxx
Funds," the "Funds") is a
diversified, open-end management
investment company registered as
such under the 1940 Act; and
WHEREAS, the Funds are required
to provide and maintain a fidelity
bond pursuant to Rule 17g-1 under
the 1940 Act; and
WHEREAS, paragraph (b) of Rule
17g-1 provides that the fidelity
bond may be in the form of a
joint insured bond covering the
Funds; and
WHEREAS, the Boards of Managers/
Trustees of the Funds, including
a majority of those Managers/Trustees
who are not "interested persons"
(as that term is defined by the 0000
Xxx) of the Funds, respectively,
have made the determinations required
by Rule 17g-1, including those
provisions specifically applicable
to a joint insured bond;
NOW, THEREFORE, the Funds hereby
agree as follows:
1. The Funds will each
pay a portion of the premiums
for the joint insured fidelity bond
which is allocated to each party
pro rata according to the percentage
the party's net assets bears to
the aggregate net assets of all the
insured parties.
2. In the event recovery is received
under the joint insured bond as a
result of a loss sustained by more
than one of the insured parties,
each party shall receive an
equitable and proportionate share
of the recovery, but such recovery
shall be in an amount at least equal
to the amount which such party would
have received had it provided and
maintained a single insured bond
with the minimum coverage required
by paragraph (d)(1) of Rule 17g-1
under the 1940 Act.
This Agreement may be executed
simultaneously in two or more
counterparts, each of which shall
be deemed an original, but all of
which taken together shall constitute
one and the same instrument.
Dated: October 25, 2012ARDEN SAGE MULTI-STRATEGY FUND,
L.L.C.
By: /s/Xxxxx Xxxxxxx
Name: Xxxxx Xxxxxxx
Title: Manager
XXXXX XXXX MULTI-STRATEGY
MASTER FUND, L.L.C.
By: /s/Xxxxx Xxxxxxx
Name: Xxxxx Xxxxxxx
Title: Manager
XXXXX XXXX MULTI-STRATEGY
INSTITUTIONAL FUND, L.L.C.
By: /s/Xxxxx Xxxxxxx
Name: Xxxxx Xxxxxxx
Title: Manager
XXXXX XXXX TRITON FUND, L.L.C.
By: /s/Xxxxx Xxxxxxx
Name: Xxxxx Xxxxxxx
Title: Manager
XXXXX XXXX MULTI-STRATEGY TEI
INSTITUTIONAL FUND, L.L.C.
By: /s/Xxxxx Xxxxxxx
Name: Xxxxx Xxxxxxx
Title: Manager
ARDEN ALTERNATIVE STRATEGIES FUND
By: /s/Xxxxx Xxxxx
Name: Xxxxx Xxxxx
Title: Trustee
DOC ID - 9951504.6
