AIP ALTERNATIVE STRATEGIES FUNDS FIRST AMENDMENT TO THE FUND ACCOUNTING SERVICING AGREEMENT
AIP
ALTERNATIVE STRATEGIES FUNDS
FIRST
AMENDMENT TO THE
THIS FIRST AMENDMENT effective
as of November 1, 2009, to the Fund Accounting Servicing Agreement, dated as of
April 28, 2006, as amended (the "Fund Accounting 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 the Fund Accounting Agreement; and
WHEREAS,
the parties desire to amend the Fund Accounting Agreement; and
WHEREAS,
Section 15 of the Fund Accounting 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is hereby superseded and replaced with Exhibit A attached hereto.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is hereby superseded and replaced with Exhibit B attached hereto.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 Accounting 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.
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
Exhibit B
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
$[__]
first $[__] million
[__]
basis points on the next $[__] million
[__]
basis points on the next $[__] million
[__]
basis points on the next $[__] million
[__]
basis points on the next $[__] billion
[__]
basis points on the balance
Plus
sub-advisor fee of $[__] per advisor
*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
Advisor Information Source (AIS) Web
Portal
The
AIS portal provides position, transaction and compliance
reporting. Reports can be scheduled and delivered to the secure
AIS inbox. Customize the output and format of information to
fit your needs. Import the data through an interface and query
information on demand. Specialized projects will be analyzed
and an estimate will be provided prior to work being
performed.
Out-Of-Pocket Expenses
Including but not limited to
pricing services, corporate action services, fair value pricing services,
factor services, customized reporting, and all other out-of-pocket
expenses.
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 and
Advisor Information Source (AIS) Web Portal as stated above
3