0001104659-06-082218 Sample Contracts

Addendum No. 1 to the Investment Advisory Agreement
Investment Advisory Agreement • December 18th, 2006 • Blackrock Funds

This Addendum dated as of the day of , 2006 is entered into by and between BLACKROCK FUNDSSM, a Massachusetts business trust (the “Fund”), and BLACKROCK ADVISORS, LLC, a Delaware limited liability company (the “Adviser”).

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