0001193125-06-199336 Sample Contracts

ADMINISTRATION AGREEMENT
Administration Agreement • September 29th, 2006 • Merrill Lynch Focus Twenty Fund Inc • New York

AGREEMENT, dated September 29, 2006, between BlackRock Focus Twenty Fund, Inc. (the “Fund”), a Maryland corporation and BlackRock Advisors, LLC (the “Administrator”), a Delaware limited liability company.

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FEE WAIVER/EXPENSE REIMBURSEMENT AGREEMENT
Reimbursement Agreement • September 29th, 2006 • Merrill Lynch Focus Twenty Fund Inc

THIS FEE WAIVER/EXPENSE REIMBURSEMENT AGREEMENT (the “Agreement”) is made as of September 29, 2006 by and among BlackRock Advisors, LLC (the “Manager”), BlackRock Focus Twenty Fund, Inc. (the “Fund”) and Master Focus Twenty Trust (the “Trust”).

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