0001193125-11-323063 Sample Contracts

Amendment No. 1 to the Investment Management Agreement
Investment Management Agreement • November 28th, 2011 • Blackrock Natural Resources Trust

This Amendment No. 1 to the Investment Management Agreement dated as of June 1, 2011 (the “Amendment”) is entered into by and between BlackRock Natural Resources Trust, a Massachusetts business trust (the “Trust”) and BlackRock Advisors, LLC, a Delaware limited liability company (the “Advisor”).

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