0001140361-22-036850 Sample Contracts

PRINCIPAL REAL ESTATE INVESTORS, LLC
Investment Sub-Advisory Agreement • October 11th, 2022 • Versus Capital Multi-Manager Real Estate Income Fund LLC • New York

THIS INVESTMENT SUB-ADVISORY AGREEMENT (the “Agreement”) is entered into as of October 11, 2022 by and between Principal Real Estate Investors, LLC (the “Sub-Adviser”), and Versus Capital Advisors LLC (the “Adviser”), on behalf of Versus Capital Multi-Manager Real Estate Income Fund LLC (the “Fund”).

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SECURITY CAPITAL RESEARCH & MANAGEMENT INCORPORATED INVESTMENT SUB-ADVISORY AGREEMENT
Investment Sub-Advisory Agreement • October 11th, 2022 • Versus Capital Multi-Manager Real Estate Income Fund LLC • New York

This Investment Sub-Advisory Agreement (“Agreement”) dated as of October 11, 2022 is entered into by and between Security Capital Research & Management Incorporated (the “Sub-Adviser”) and Versus Capital Advisors LLC (the “Adviser”) and, solely with respect to Section 10 below, Versus Capital Multi-Manager Real Estate Income Fund LLC (the “Fund”) and sets forth the terms on which the Sub-Adviser will act as sub-adviser of certain assets of the Fund placed with Sub-Adviser from time to time hereunder (the “Account”).

INVESTMENT MANAGEMENT AGREEMENT
Investment Management Agreement • October 11th, 2022 • Versus Capital Multi-Manager Real Estate Income Fund LLC • Delaware

This INVESTMENT MANAGEMENT AGREEMENT, dated as of October 11, 2022 (the “Agreement”), is made and entered into by and between Versus Capital Multi-Manager Real Estate Income Fund LLC, a Delaware limited liability company (the “Fund”), and Versus Capital Advisors LLC, a Delaware limited liability company (the “Adviser”).

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