0001193125-06-204413 Sample Contracts

SUB-INVESTMENT ADVISORY AGREEMENT
Sub-Investment Advisory Agreement • October 6th, 2006 • Master Focus Twenty Trust • New York

AGREEMENT dated September 29, 2006, between BlackRock Advisors, LLC, a Delaware limited liability company (the “Advisor”), and BlackRock Investment Management, LLC, a Delaware limited liability company (the “Sub-Advisor”).

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INVESTMENT MANAGEMENT AGREEMENT
Investment Management Agreement • October 6th, 2006 • Master Focus Twenty Trust • New York

AGREEMENT, dated September 29, 2006, between Master Focus Twenty Trust (the “Trust”), a Delaware statutory trust, and BlackRock Advisors, LLC (the “Advisor”), a Delaware limited liability company.

PLACEMENT AGENT AGREEMENT
Placement Agent Agreement • October 6th, 2006 • Master Focus Twenty Trust • New York

AGREEMENT made as of the 29th day of September, 2006, between MASTER FOCUS TWENTY TRUST, a Delaware statutory trust (the “Trust”), and FAM DISTRIBUTORS, INC., a Delaware corporation (the “Placement Agent”).

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