0001571049-17-005790 Sample Contracts

AMENDED AND RESTATED INVESTMENT ADVISORY AGREEMENT BETWEEN NORTHSTAR REAL ESTATE CAPITAL INCOME MASTER FUND AND CNI RECF ADVISORS, LLC
Investment Advisory Agreement • June 7th, 2017 • NorthStar Real Estate Capital Income Master Fund • New York

This Amended and Restated Investment Advisory Agreement (this "Agreement") is made as of May 23, 2017 with an effective date as of February 23, 2017, by and between NORTHSTAR REAL ESTATE CAPITAL INCOME MASTER FUND, a Delaware statutory trust (the "Company"), and CNI RECF Advisors, LLC, a Delaware limited liability company (the "Advisor"). This Agreement amends and restates that certain Investment Advisory Agreement, dated as of May 6, 2016, by and between the Company and NSAM B-RECF Ltd. (the "Prior Agreement"). Upon execution and delivery of this Agreement, the Prior Agreement shall be automatically deemed to have been amended and restated as provided herein, and this Agreement shall be in full force and effect.

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AMENDED AND RESTATED INVESTMENT ADVISORY AGREEMENT BETWEEN NS CAPITAL INCOME MASTER FUND REIT, INC. AND CNI RECF ADVISORS, LLC
Investment Advisory Agreement • June 7th, 2017 • NorthStar Real Estate Capital Income Master Fund • New York

This Amended and Restated Investment Advisory Agreement (this “Agreement”) is made as of May 23, 2017 with an effective date as of February 23, 2017, by and between NS Capital Income Master Fund REIT, Inc., a Maryland corporation (the “Company”), and CNI RECF Advisors, LLC, a Delaware limited liability company (the “Advisor”). This Agreement amends and restates that certain Investment Advisory Agreement, dated as of May 6, 2016, by and between the Company and NSAM B-RECF Ltd. (the “Prior Agreement”). Upon execution and delivery of this Agreement, the Prior Agreement shall be automatically deemed to have been amended and restated as provided herein, and this Agreement shall be in full force and effect.

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