0001104659-08-037031 Sample Contracts

FORM OF MANAGEMENT AGREEMENT Legg Mason Partners Fund Advisor, LLC
Management Agreement • June 2nd, 2008 • Legg Mason Permal Global Active Strategies TEI Fund • New York

This MANAGEMENT AGREEMENT (“Agreement”) is made this [ ], 2008, by and between Legg Mason Permal Global Active Strategies TEI Fund (the “Fund”) and Legg Mason Partners Fund Advisor, LLC, a Delaware limited liability company (the “Manager”).

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FORM OF SUBADVISORY AGREEMENT
Form of Subadvisory Agreement • June 2nd, 2008 • Legg Mason Permal Global Active Strategies TEI Fund • New York

This SUBADVISORY AGREEMENT (“Agreement”) is made this [ ], 2008, by and between Legg Mason Partners Fund Advisor, LLC, a Delaware limited liability company (the “Manager”), and Permal Asset Management Inc., a Delaware corporation (the “Subadviser”).

LEGG MASON PERMAL GLOBAL ACTIVE STRATEGIES TEI FUND AGREEMENT AND DECLARATION OF TRUST Dated as of March 31, 2008
Agreement and Declaration of Trust • June 2nd, 2008 • Legg Mason Permal Global Active Strategies TEI Fund • Delaware

WHEREAS, this Trust is authorized to issue an unlimited number of its shares of beneficial interest all in accordance with the provisions hereinafter set forth;

FORM OF SHAREHOLDER SERVICING AGREEMENT
Shareholder Servicing Agreement • June 2nd, 2008 • Legg Mason Permal Global Active Strategies TEI Fund • New York
FORM OF PLACEMENT AGENCY AGREEMENT
Placement Agency Agreement • June 2nd, 2008 • Legg Mason Permal Global Active Strategies TEI Fund • New York

AGREEMENT made this [ ]th day of [ ], 2008, between LEGG MASON PERMAL GLOBAL ACTIVE STRATEGIES TEI FUND, a Delaware statutory trust (the “Fund”), and Legg Mason Investor Services, LLC (the “Placement Agent”).

FORM OF SUBSCRIPTION AGREEMENT
Form of Subscription Agreement • June 2nd, 2008 • Legg Mason Permal Global Active Strategies TEI Fund

Subscription Agreement, dated as of [ ], 2008, between Legg Mason Permal Global Active Strategies TEI Fund, a statutory trust organized under the laws of Delaware (the “Fund”) and [ ] (the “Purchaser”).

FORM OF SUB-PLACEMENT AGENCY AGREEMENT
Sub-Placement Agency Agreement • June 2nd, 2008 • Legg Mason Permal Global Active Strategies TEI Fund • New York

AGREEMENT made this [ ]th day of [ ], 2008, between Legg Mason Investor Services, LLC, a [ ] limited liability company (the “Placement Agent”), and [ ], a [ ] company (the “Sub-Placement Agent”).

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