MANAGEMENT AGREEMENT Legg Mason Partners Fund Advisor, LLC This MANAGEMENT AGREEMENT ("Agreement") is made this 1st day of August, 2006, by and between Tax Free Reserves Portfolio (the "Fund") and Legg Mason Partners Fund Advisor, LLC, a Delaware...Management Agreement • October 30th, 2006 • Tax Free Reserves Portfolio
signature page to follow] IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed by their officers thereunto duly authorized. LEGG MASON PARTNERS FUND ADVISOR, LLCSubadvisory Agreement • October 30th, 2006 • Tax Free Reserves Portfolio • New York
