0001193125-14-106545 Sample Contracts

JOINDER AND AMENDMENT TO AMENDED AND RESTATED ADMINISTRATION AGREEMENT
Administration Agreement • March 19th, 2014 • Salient Alternative Strategies I Fund

JOINDER AND AMENDMENT made as of March 7, 2013, among Citi Fund Services Ohio, Inc., an Ohio corporation having its principal place of business at 3435 Stelzer Road, Columbus, Ohio 43219 (“Citi”), Citibank, N.A., a national banking association acting through its offices located in New York, New York (“Citibank”), and the entities signing this Amendment (each, a “Fund”), to that certain Administration Agreement, dated as of February 1, 2010, between each Fund and Citi (as amended and as in effect on the date hereof, the “Agreement”). All capitalized terms used but not defined herein shall have the meanings given to them in the Agreement.

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SALIENT ADVISORS, L.P.
Expense Limitation Agreement • March 19th, 2014 • Salient Alternative Strategies I Fund

With reference to the Investment Management Agreement entered into by Salient Advisors, L.P. (the “Adviser”) and Salient Alternative Strategies I Fund (the “Fund”), and the Investment Management Agreement between the Adviser and the Salient Alternative Strategies Master Fund (the “Master Fund”), each as most recently reapproved by the Funds’ respective Boards of Trustees on January 21, 2014, we hereby notify you as follows:

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