0001379491-13-001005 Sample Contracts

FORM OF INVESTMENT MANAGEMENT AGREEMENT FRANKLIN ALTERNATIVE STRATEGIES FUNDS on behalf of FRANKLIN PELAGOS COMMODITIES STRATEGY FUND
Investment Management Agreement • September 27th, 2013 • Franklin Alternative Strategies Funds • Delaware

THIS INVESTMENT MANAGEMENT AGREEMENT, dated as of September 27, 2013, is made between FRANKLIN ALTERNATIVE STRATEGIES FUNDS, a Delaware statutory trust (the “Trust”), on behalf of FRANKLIN PELAGOS COMMODITIES STRATEGY FUND (the “Fund”), a series of the Trust, and PELAGOS CAPITAL MANAGEMENT, LLC, a Delaware limited liability company (the “Manager”).

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MASTER CUSTODY AGREEMENT
Master Custody Agreement • September 27th, 2013 • Franklin Alternative Strategies Funds

The following is a list of the Investment Companies and their respective Series for which the Custodian shall serve under the Master Custody Agreement dated as of February 16, 1996.

AMENDED AND RESTATED FUND ADMINISTRATION AGREEMENT
Fund Administration Agreement • September 27th, 2013 • Franklin Alternative Strategies Funds • California

This Agreement, dated as of May 21, 2012, is between FRANKLIN ALTERNATIVE STRATEGIES FUNDS (the “Trust”), a Delaware statutory trust on behalf of FRANKLIN PELAGOS MANAGED FUTURES STRATEGY FUND (the “Fund”), and FRANKLIN TEMPLETON SERVICES, LLC (“Administrator”), and amends and restates the prior Fund Administration Agreement between the Trust on behalf of the Fund and Administrator.

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