0000930413-16-009090 Sample Contracts

OLD WESTBURY FUNDS, INC. Old Westbury Small & Mid Cap Fund SUB-ADVISORY AGREEMENT
Sub-Advisory Agreement • December 30th, 2016 • Old Westbury Funds Inc • New York

This SUB-ADVISORY AGREEMENT (“Agreement”) executed as of July 28, 2016, by and among OLD WESTBURY FUNDS, INC. (the “Corporation”), on behalf of Old Westbury Small & Mid Cap Fund (the “Fund”), BESSEMER INVESTMENT MANAGEMENT LLC (the “Adviser”), and Martingale Asset Management, L.P. (the “Sub-Adviser”),

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AMENDMENT No. 4 TO INVESTMENT ADVISORY AGREEMENT
Investment Advisory Agreement • December 30th, 2016 • Old Westbury Funds Inc

This AMENDMENT No. 4 to the Investment Advisory Agreement (as defined below) is made and effective as of ____________, 2016 (the “Amendment”), by and between OLD WESTBURY FUNDS, INC. (the “Fund”) and BESSEMER INVESTMENT MANAGEMENT LLC (the “Adviser”). Terms not otherwise defined herein shall have the meanings ascribed thereto in the Investment Advisory Agreement.

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