0001193125-15-259995 Sample Contracts

DEALER AGREEMENT
Dealer Agreement • July 22nd, 2015 • Blackstone Alternative Alpha Fund • New York

Blackstone Advisory Partners L.P. (“Distributor”) serves as a principal underwriter for Blackstone Alternative Alpha Fund (the “Fund”), a closed-end investment company registered under the Investment Company Act of 1940, as amended (the “1940 Act”), pursuant to a distribution agreement with the Fund. Robert W. Baird & Co. Incorporated (“Dealer”) and Distributor hereby agree that Dealer will participate in the distribution of shares of the Fund (“Shares”), subject to the terms of this First Amended and Restated Dealer Agreement (“Agreement”), dated as of [●].

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