0001193125-16-751260 Sample Contracts

Form of Amendment No. 1 to the Investment Management Agreement
Investment Management Agreement • October 28th, 2016 • Blackrock Multi State Municipal Series Trust

This Amendment No. 1 to the Investment Management Agreement dated as of [ ], 2016 (the “Amendment”) is entered into by and between BlackRock Multi-State Municipal Series Trust, a Massachusetts business trust (the “Trust”), on behalf of BlackRock New York Municipal Opportunities Fund, a series of the Trust (the “Fund”), and BlackRock Advisors, LLC, a Delaware limited liability company (the “Advisor”).

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