0000898432-12-000650 Sample Contracts

SUB-ADVISORY AGREEMENT NEUBERGER BERMAN ALTERNATIVE FUNDS
Sub-Advisory Agreement • May 15th, 2012 • Neuberger Berman Alternative Funds • New York

This Sub-Advisory Agreement (“Agreement”) is made as of May 15, 2012, by and among Neuberger Berman Management LLC, a Delaware limited liability company (“Manager”), NB Alternative Investment Management LLC, a Delaware limited liability company (“Adviser” and together with the Manager, the “NB Parties”) and Cramer Rosenthal McGlynn, LLC, a Delaware limited liability company (“Sub-Adviser”).

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INVESTMENT ADVISORY AGREEMENT NEUBERGER BERMAN ALTERNATIVE FUNDS
Investment Advisory Agreement • May 15th, 2012 • Neuberger Berman Alternative Funds • New York

This Investment Advisory Agreement (“Agreement”) is made as of May 15, 2012, between Neuberger Berman Management LLC, a Delaware limited liability company (“Manager”) and NB Alternative Investment Management, LLC, a Delaware limited liability company (“Adviser”).

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