AIP ALTERNATIVE STRATEGIES FUNDS FIRST AMENDMENT TO THE FUND ADMINISTRATION SERVICING AGREEMENT
AIP
ALTERNATIVE STRATEGIES FUNDS
FIRST
AMENDMENT TO THE
THIS FIRST AMENDMENT effective
as of November 1, 2009, to the Fund Administration Servicing Agreement, dated as
of April 28, 2006, (the "Fund Administration Agreement"), is entered into by and
among HATTERAS ALTERNATIVE
MUTUAL FUNDS, LLC f/k/a ALTERNATIVE INVESTMENT PARTNERS, LLC, a Delaware
limited liability company (the “Adviser”), AIP ALTERNATIVE STRATEGIES FUNDS,
a Delaware business trust (the “Trust”) and U.S. BANCORP FUND SERVICES,
LLC, a Wisconsin limited liability company ("USBFS").
RECITALS
WHEREAS, the parties have
entered into a Fund Administration Agreement; and
WHEREAS, the parties desire to
amend the Fund Administration Agreement; and
WHEREAS, Section 10 of the
Fund Administration Agreement allows for its amendment by a written instrument
executed by both parties.
NOW, THEREFORE, the parties
agree as follows:
Exhibit A is hereby superseded and
replaced with Exhibit A attached hereto.
Exhibit B
is hereby superseded and replaced with Exhibit B attached hereto.
Except to
the extent amended hereby, the Fund Administration Agreement shall remain in
full force and effect.
IN WITNESS WHEREOF, the
parties hereto have caused this First Amendment to be executed by a duly
authorized officer on one or more counterparts as of the date and year first
written above.
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HATTERAS ALTERNATIVE MUTUAL
FUNDS, LLC
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U.S.
BANCORP FUND SERVICES, LLC
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By:
/s/ J. Xxxxxxx
Xxxxxx
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By:
/s/ Xxxxxxx X.
XxXxx
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Printed
Name: J. Xxxxxxx Xxxxxx
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Printed
Name: Xxxxxxx X. XxXxx
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Title: COO
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Title:
Executive Vice President
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AIP
ALTERNATIVE STRATEGIES FUNDS
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By:
/s/ J. Xxxxxxx
Xxxxxx
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Printed
Name: J. Xxxxxxx Xxxxxx
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Title: Secretary
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1
Exhibit
A
to
the AIP Alternative Strategies Funds
Separate
Series of AIP Alternative Strategies Funds
Name of
Series
Alpha
Hedged Strategies Fund – No Load Class and Class C
Beta
Hedged Strategies Fund – No Load Class and Class C
2
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Exhibit B
to the Fund Administration Servicing
Agreement
Fee Schedule of AIP Alternative
Strategies Funds and Underlying Funds Trust
Effective November 1,
2009
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Annual Fee Based Upon Market Value of
Complex*Note
1
$[__]
on the first $[__] million
[__]
basis points on the next $[__] million
[__]
basis points on the balance
P Plus
sub-advisor fee of $[__] per advisor
P *Minimum
annual fee based on six funds with four classes.
Additional
fee is $[__] per fund and $[__] per class.
Additional
Services Note 1,
2
§ $[__] /year
Chief Compliance Officer
Support
USBFS
provides on-going support to the fund’s CCO’s including:
§ Daily
consulting and responding to inquiries and requests
§ Periodic
reporting and conference calls with all CCO’s
§ Periodic
forums for USBFS CCO to meet with client CCO’s
§ Quarterly
certifications and reporting on procedures and compliance
events
§ Access
to CCO portal
Annual Legal
Administration
Legal
administration services in support of external legal counsel, including
annual registration statement update and drafting of
supplements.
Pre- and Post-Tax Performance
Reporting
GainsKeeper – Automated Wash Sale
Service
Out-Of-Pocket
Expenses
Including
but not limited to postage, stationery, programming, special reports, ,
proxies, insurance, XXXXX filing, retention of records, federal and state
regulatory filing fees, certain insurance premiums, expenses from board of
directors meetings, third party auditing and legal expenses, conversion
expenses (if necessary), and all other out-of-pocket
expenses.
Additional
Services
Available
but not included above are the following services – Daily
Compliance Services and SEC §15(c) reporting.
Conversion
and extraordinary services quoted separately.
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Note
1: Fees are billed monthly and subject to annual CPI increase,
Milwaukee MSA.
Note
2: Additional services include Chief Compliance Officer Support,
Annual Legal Administration, Pre and Post Tax Performance
Reporting and GainsKeeper as stated above
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