0001193125-07-164235 Sample Contracts

INVESTMENT MANAGEMENT AGREEMENT
Investment Management Agreement • July 27th, 2007 • Mercantile Alternative Strategies Fund LLC • Delaware

AGREEMENT made as of this 20th day of July, 2007, by and between Mercantile Alternative Strategies Fund LLC, a Delaware limited liability company (the “Company”), and Mercantile Capital Advisors, Inc., a Maryland corporation (the “Manager”).

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INVESTMENT MANAGEMENT AGREEMENT
Investment Management Agreement • July 27th, 2007 • Mercantile Alternative Strategies Fund LLC • Delaware

AGREEMENT made as of this 20th day of July, 2007, by and between Mercantile Alternative Strategies Master Fund LLC, a Delaware limited liability company (the “Company”), and Mercantile Capital Advisors, Inc., a Maryland corporation (the “Manager”).

AMENDMENT TO EXPENSE LIMITATION AGREEMENT
Expense Limitation Agreement • July 27th, 2007 • Mercantile Alternative Strategies Fund LLC

This Amendment, dated as of January 1, 2007 is entered into between Mercantile Capital Advisors, Inc. a Maryland corporation (the “Manager”), Mercantile Alternative Strategies Fund LLC (the “Fund”) and Mercantile Alternative Strategies Master Fund LLC (the “Master Fund”).

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