JOINT INSURED AGREEMENT
WHEREAS, each of Robeco-Sage Multi-Strategy Fund, L.L.C,
Robeco-Sage Multi-Strategy Master Fund, L.L.C., Robeco-Sage Multi-Strategy
Institutional Fund, L.L.C., Robeco-Sage Triton Fund, L.L.C., Robeco-Sage
Multi-Strategy TEI Master Fund, L.L.C. and Robeco-Sage Multi-Strategy TEI
Institutional Fund, L.L.C. and Robeco-Sage Multi-Strategy TEI Fund, L.L.C.
(each, a "Fund" and collectively, the "Funds") is a non-diversified, closed-end
management investment company registered as such under the Investment Company
Act of 1940, as amended (the "1940 Act"); and
WHEREAS, the Funds are required to provide and maintain a
fidelity bond pursuant to Rule 17g-1 under the 1940 Act; and
WHEREAS, paragraph (b) of Rule 17g-1 provides that the fidelity
bond may be in the form of a joint insured bond covering the Funds; and
WHEREAS, the Boards of Managers of the Funds, including a
majority of those Managers who are not "interested persons" (as that term is
defined by the ▇▇▇▇ ▇▇▇) of the Funds, respectively, have made the
determinations required by Rule 17g-1, including those provisions specifically
applicable to a joint insured bond;
NOW, THEREFORE, the Funds hereby agree as follows:
1. The Funds will each pay a portion of the premiums for the
joint insured fidelity bond which is allocated to each party pro rata according
to the percentage the party's net assets bears to the aggregate net assets of
all the insured parties.
2. In the event recovery is received under the joint insured bond
as a result of a loss sustained by more than one of the insured parties, each
party shall receive an equitable and proportionate share of the recovery, but
such recovery shall be in an amount at least equal to the amount which such
party would have received had it provided and maintained a single insured bond
with the minimum coverage required by paragraph (d)(1) of Rule 17g-1 under the
1940 Act.
This Agreement may be executed simultaneously in two or more
counterparts, each of which shall be deemed an original, but all of which
taken together shall constitute one and the same instrument.
Dated: February 22, 2010 ROBECO-SAGE MULTI-STRATEGY FUND,
L.L.C.
By: /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇
----------------------
Name: ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇
Title: Manager
ROBECO-SAGE MULTI-STRATEGY MASTER
FUND, L.L.C.
By: /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇
--------------------------
Name: ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇
Title: Manager
ROBECO-SAGE MULTI-STRATEGY
INSTITUTIONAL FUND, L.L.C.
By: /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇
--------------------------
Name: ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇
Title: Manager
ROBECO-SAGE TRITON FUND, L.L.C.
By: /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇
-------------------------
Name: ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇
Title: Manager
ROBECO-SAGE MULTI-STRATEGY TEI
MASTER FUND, L.L.C.
By: /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇
---------------------------
Name: ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇
Title: Manager
ROBECO-SAGE MULTI-STRATEGY TEI
INSTITUTIONAL FUND, L.L.C.
By: /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇
----------------------------
Name: ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇
Title: Manager
ROBECO-SAGE MULTI-STRATEGY TEI
FUND, L.L.C.
By: /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇
-----------------------------
Name: ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇
Title: Manager
