0001144204-13-041486 Sample Contracts

CUSTODY AGREEMENT

Custody Agreement • July 26th, 2013 • Steben Select Multi-Strategy Master Fund • Minnesota

• Contract Type
  Custody Agreement
• Filed
  July 26th, 2013
• Company
  Steben Select Multi-Strategy Master Fund
• Jurisdiction
  Minnesota

THIS AGREEMENT is made and entered into as of the 24 day of July, 2013, by and between STEBEN SELECT MULTI-STRATEGY FUND, a Delaware statutory trust, (the “Fund”), and U.S. BANK NATIONAL ASSOCIATION, a national banking association organized and existing under the laws of the United States of America with its principal place of business at Minneapolis, Minnesota (the “Custodian”).

Steben Select Multi-Strategy Master Fund Operating Services Agreement

Operating Services Agreement • July 26th, 2013 • Steben Select Multi-Strategy Master Fund • Delaware

• Contract Type
  Operating Services Agreement
• Filed
  July 26th, 2013
• Company
  Steben Select Multi-Strategy Master Fund
• Jurisdiction
  Delaware

This AGREEMENT is made and entered into as of July __, 2013, by and between Steben Select Multi-Strategy Master Fund, a Delaware statutory trust (the “Fund”), and Steben & Company, Inc., a Maryland corporation (hereinafter referred to as the “Advisor”).

Steben Select Multi-Strategy Master Fund Investment Management Agreement

Investment Management Agreement • July 26th, 2013 • Steben Select Multi-Strategy Master Fund • Delaware

• Contract Type
  Investment Management Agreement
• Filed
  July 26th, 2013
• Company
  Steben Select Multi-Strategy Master Fund
• Jurisdiction
  Delaware

This AGREEMENT is made and entered into as of July __, 2013 by and between Steben Select Multi-Strategy Master Fund, a Delaware statutory trust (the “Fund”), and Steben & Company, Inc., a Maryland corporation (the “Advisor”).

FUND ADMINISTRATION SERVICING AGREEMENT

Fund Administration Servicing Agreement • July 26th, 2013 • Steben Select Multi-Strategy Master Fund • Wisconsin

• Contract Type
  Fund Administration Servicing Agreement
• Filed
  July 26th, 2013
• Company
  Steben Select Multi-Strategy Master Fund
• Jurisdiction
  Wisconsin

THIS AGREEMENT is made and entered into this ____day of July, 2013, by and among STEBEN SELECT MULTI-STRATEGY FUND, a Delaware statutory trust, STEBEN SELECT MULTI-STRATEGY MASTER FUND, a Delaware statutory trust, referred to herein individually as a “Fund” and collectively the “Funds”, and U.S. BANCORP FUND SERVICES, LLC, a Wisconsin limited liability company (“USBFS”).

FUND ACCOUNTING SERVICING AGREEMENT

Fund Accounting Servicing Agreement • July 26th, 2013 • Steben Select Multi-Strategy Master Fund • Wisconsin

• Contract Type
  Fund Accounting Servicing Agreement
• Filed
  July 26th, 2013
• Company
  Steben Select Multi-Strategy Master Fund
• Jurisdiction
  Wisconsin

THIS AGREEMENT is made and entered into as of this _____ day of July, 2013, by and among STEBEN SELECT MULTI-STRATEGY FUND, a Delaware statutory trust, STEBEN SELECT MULTI-STRATEGY MASTER FUND, a Delaware statutory trust, referred to herein individually as a “Fund” and collectively the “Funds” and U.S. BANCORP FUND SERVICES, LLC, a Wisconsin limited liability company (“USBFS”).