0000950152-08-009795 Sample Contracts

SUB-ADVISORY AGREEMENT
Sub-Advisory Agreement • November 26th, 2008 • Bb&t Funds / • Massachusetts

AGREEMENT dated as of June 16, 2008, between BB&T Asset Management, Inc., a North Carolina corporation with an office in Raleigh, North Carolina (herein called the “Investment Adviser”) and Artio Global Management LLC (formerly Julius Baer Investment Management LLC), a Delaware limited liability company with an office in New York, New York (such company herein called the “Sub-Adviser”).

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Amendment to Third Party Feeder Fund Agreement
Third Party Feeder Fund Agreement • November 26th, 2008 • Bb&t Funds /

This Amendment to the Third Party Feeder Fund Agreement, dated April 19, 2007, between Master Investment Portfolio, BB&T Funds, and BB&T AM Distributors, Inc. (the “Agreement”) is made as of July 1, 2008.

AMENDED AND RESTATED EXHIBIT A TO THE UNDERWRITING AGREEMENT
Bb&t Funds / • November 26th, 2008

THIS EXHIBIT A, dated as of February 1, 2008 is amended and restated Exhibit A to that certain Underwriting Agreement dated as of April 23, 2007, among BB&T AM Distributors, Inc., BB&T Funds and BB&T Asset Management, Inc.

THIRD PARTY SECURITIES LENDING AUTHORIZATION
Agreement • November 26th, 2008 • Bb&t Funds / • Pennsylvania

This Agreement (this “Agreement”) made as of the day of , 2008, by and between MELLON BANK, N.A., a national banking association (the “Lending Agent”) and (the “Client”) with respect to each of the funds identified on Schedule 1 hereto, as amended, modified or supplemented from time to time (each a “Fund” and collectively the “Funds”).

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