0001398344-12-000796 Sample Contracts

DISTRIBUTION AGREEMENT

Distribution Agreement • March 2nd, 2012 • Arden Sage Multi-Strategy Institutional Fund, L.L.C. • Delaware

• Contract Type
  Distribution Agreement
• Filed
  March 2nd, 2012
• Company
  Arden Sage Multi-Strategy Institutional Fund, L.L.C.
• Jurisdiction
  Delaware

THIS AGREEMENT is made and entered into as of January 11, 2012, by and between Arden Securities LLC, a New York limited liability company (the “Distributor”) and each of the Funds listed on Exhibit A attached hereto (each a Fund, and together, the “Funds”).

INVESTMENT ADVISORY AGREEMENT

Investment Advisory Agreement • March 2nd, 2012 • Arden Sage Multi-Strategy Institutional Fund, L.L.C. • New York

• Contract Type
  Investment Advisory Agreement
• Filed
  March 2nd, 2012
• Company
  Arden Sage Multi-Strategy Institutional Fund, L.L.C.
• Jurisdiction
  New York

THIS INVESTMENT ADVISORY AGREEMENT is made as of the 1st day of October, 2011, by and between Arden Sage Multi-Strategy Institutional Fund, L.L.C., a Delaware limited liability company (the "Fund"), and Arden Asset Management LLC, a Delaware limited liability company (the "Investment Adviser").

MEMBER SERVICES AGREEMENT

Member Services Agreement • March 2nd, 2012 • Arden Sage Multi-Strategy Institutional Fund, L.L.C. • Delaware

• Contract Type
  Member Services Agreement
• Filed
  March 2nd, 2012
• Company
  Arden Sage Multi-Strategy Institutional Fund, L.L.C.
• Jurisdiction
  Delaware

AGREEMENT made as of January 11, 2012, by and between ARDEN SECURITIES LLC, as distributor (“Distributor”), and ARDEN SAGE MULTI-STRATEGY INSTITUTIONAL FUND, L.L.C., a Delaware limited liability company (the “Fund”).