0001379491-18-005114 Sample Contracts

AMENDMENT TO MASTER CUSTODY AGREEMENT
Master Custody Agreement • September 27th, 2018 • Franklin Alternative Strategies Funds

This Amendment is dated as of the first day of June, 2018, by and between Each of the Investment Companies Listed on Exhibit A hereto for itself and for Each of its Series listed on Exhibit A hereto (the “Client”), and The Bank of New York Mellon (formerly The Bank of New York) (the “Custodian”).

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AMENDED AND RESTATED AGREEMENT AND DECLARATION OF TRUST of Franklin Alternative Strategies Funds a Delaware Statutory Trust
And Restated Agreement and Declaration of Trust • September 27th, 2018 • Franklin Alternative Strategies Funds • Delaware

WHEREAS Franklin Alternative Strategies Funds (the “Trust”) was formed on July 21, 2011 under the name “Franklin Alternative Strategies Funds” by its Trustees by the filing of the Certificate of Trust with the Office of the Secretary of State of the State of Delaware pursuant to an Agreement and Declaration of Trust dated as of July 21, 2011 (the “Original Declaration of Trust”); and

AMENDMENT TO MASTER CUSTODY AGREEMENT
Master Custody Agreement • September 27th, 2018 • Franklin Alternative Strategies Funds

This Amendment is dated as of the first day of June, 2018, by and between Each of the Investment Companies Listed on Schedule 1 hereto for itself and for Each of its Series listed on Schedule 1 hereto (the “Client”), and The Bank of New York Mellon (formerly The Bank of New York) (the “Custodian”).

SUBADVISORY AGREEMENT FRANKLIN ALTERNATIVE STRATEGIES FUNDS on behalf of FRANKLIN K2 Global Macro Opportunities FUND
Subadvisory Agreement • September 27th, 2018 • Franklin Alternative Strategies Funds • Delaware

THIS SUBADVISORY AGREEMENT made as of January 5, 2017, by and between K2/D&S MANAGEMENT CO., L.L.C., a Delaware limited liability company (hereinafter called “K2”), and P/E GLOBAL LLC, a Delaware limited liability company (hereinafter called “Sub-Adviser”).

SUBADVISORY AGREEMENT K2 GMOF HOLDINGS CORPORATION
Subadvisory Agreement • September 27th, 2018 • Franklin Alternative Strategies Funds • Delaware

THIS SUBADVISORY AGREEMENT made as of May 25, 2016, by and between K2/D&S MANAGEMENT CO., L.L.C., a Delaware limited liability company (hereinafter called “K2”), and GRAHAM CAPITAL MANAGEMENT, L.P., a Delaware limited partnership (hereinafter called “Sub-Adviser”).

SUBADVISORY AGREEMENT
Subadvisory Agreement • September 27th, 2018 • Franklin Alternative Strategies Funds • Delaware

THIS SUBADVISORY AGREEMENT shall be effective on the date that Medalist Partners, LP notifies K2/D&S Management Co., L.L.C. that Medalist Partners, LP has become a registered investment adviser with the SEC and has completed its spin-out from Candlewood Investment Group, LP, expected on or shortly after May 1, 2018 (“the Effective Date”), and is made by and between K2/D&S MANAGEMENT CO., L.L.C., a Delaware limited liability company (hereinafter called “K2”), and MEDALIST PARTNERS, LP, a Delaware limited partnership (hereinafter called “Sub-Adviser”).

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