0000898432-20-000590 Sample Contracts

INVESTMENT MANAGEMENT AGREEMENT EVANSTON ALTERNATIVE OPPORTUNITIES FUND
Investment Management Agreement • June 5th, 2020 • Evanston Alternative Opportunities Fund • Delaware

AGREEMENT, made as of May 11, 2020 between Evanston Alternative Opportunities Fund, a Delaware statutory trust (the “Fund”) and Evanston Capital Management, LLC, a Delaware limited liability company (the "Adviser").

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EVANSTON CAPITAL MANAGEMENT, LLC
Evanston Alternative Opportunities Fund • June 5th, 2020

With reference to (i) the Investment Management Agreement entered into by Evanston Capital Management, LLC (the “Adviser”) with Evanston Alternative Opportunities Fund (the “Fund”); and (ii) the Expense Limitation Agreement dated as of February 12, 2014, the Expense Limitation Agreement dated as of June 1, 2015, the Expense Limitation Agreement dated as of June 1, 2016 as amended as of September 14, 2016, the Expense Limitation Agreement dated as of July 19, 2017, the Expense Limitation Agreement dated as of May 23, 2018, and the Expense Limitation Agreement dated as of January 1, 2019 (each, a “Prior Expense Limitation Agreement”), we hereby notify you as follows:

DISTRIBUTION AGREEMENT
Distribution Agreement • June 5th, 2020 • Evanston Alternative Opportunities Fund • Delaware

THIS AGREEMENT is made and entered into as of this 25th day of March, 2020, by and between Evanston Alternative Opportunities Fund, a Delaware statutory trust (the “Fund”), Evanston Capital Management, LLC (the “Adviser”) and Foreside Fund Services, LLC, a Delaware limited liability company (the “Distributor”).

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