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, each of Arden Alternative Strategies Fund ("AASF")
and Arden Alternative Strategies Fund II ("AAS II" and,
collectively with the "Xxxxx Xxxx Funds" and "AASF", 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: July 25, 2014
XXXXX XXXX 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
ARDEN ALTERNATIVE STRATEGIES FUND II
By: /s/Xxxxx Xxxxx
------------------
Name: Xxxxx Xxxxx
Title: Trustee
