Exhibit D INVESTMENT ADVISORY AGREEMENT AGREEMENT dated as of October 31, 2006, by and among Clarion Value Fund Master, LLC, a Delaware limited liability company (the "Fund"), and ING Clarion Capital, LLC, a registered investment adviser organized as...Investment Advisory Agreement • February 28th, 2007 • Clarion Value Fund Master LLC • New York
Contract Type FiledFebruary 28th, 2007 Company Jurisdiction