0000930413-09-006495 Sample Contracts

OLD WESTBURY FUNDS, INC. Old Westbury Global Opportunities Fund SUB-ADVISORY AGREEMENT
Sub-Advisory Agreement • December 29th, 2009 • Old Westbury Funds Inc • New York

This SUB-ADVISORY AGREEMENT (“Agreement”) executed as of September 25, 2009, by and among OLD WESTBURY FUNDS, INC. (the “Corporation”), on behalf of Old Westbury Global Opportunities Fund (the “Fund”), BESSEMER INVESTMENT MANAGEMENT LLC (the “Adviser”), and BLACKROCK FINANCIAL MANAGEMENT, INC. (the “Sub-Adviser”),

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SECOND AMENDMENT TO SUB-ADVISORY AGREEMENT
Sub-Advisory Agreement • December 29th, 2009 • Old Westbury Funds Inc

THIS SECOND AMENDMENT TO SUB-ADVISORY AGREEMENT dated as of March 4, 2009, by and among OLD WESTBURY FUNDS, INC. (the “Fund”), BESSEMER INVESTMENT MANAGEMENT LLC (the “Adviser”), and DIMENSIONAL FUND ADVISORS LP (the “Sub-Adviser”). All capitalized terms used herein and not otherwise defined shall have the respective meanings provided in Sub-Advisory Agreement as defined below.

AMENDMENT NO. 1 TO SUB-ADVISORY AGREEMENT
Sub-Advisory Agreement • December 29th, 2009 • Old Westbury Funds Inc • New York

This AMENDMENT NO. 1 TO SUB-ADVISORY AGREEMENT (“Amendment”), effective as of April 1, 2009, by and among OLD WESTBURY FUNDS, INC. (the “Fund”), BESSEMER INVESTMENT MANAGEMENT LLC (the “Adviser”), and SHENKMAN CAPITAL MANAGEMENT, INC. (the “Sub-Adviser”). Terms not otherwise defined herein shall have the meanings ascribed thereto in the Sub-Advisory Agreement (as defined below).

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