0001193125-21-145232 Sample Contracts

INVESTMENT SUB-ADVISORY AGREEMENT
Investment Sub-Advisory Agreement • April 30th, 2021 • FS Series Trust • Delaware

This INVESTMENT SUB-ADVISORY AGREEMENT (this “Agreement”) is entered into and effective as of January 22, 2021 among FS Fund Advisor, LLC, a Delaware limited liability company (the “Adviser”), FS Alternatives Fund (Cayman), a Cayman Islands exempted company (the “Fund”) and Crabel Capital Management, LLC, a Wisconsin limited liability company (the “Sub-Adviser”).

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FS Multi-Strategy Alternatives Fund INVESTMENT SUB-ADVISORY AGREEMENT
Investment Sub-Advisory Agreement • April 30th, 2021 • FS Series Trust • Delaware

INVESTMENT SUB-ADVISORY AGREEMENT (the “Agreement”), dated as of the 8th day of January 2021, by and between FS FUND ADVISOR, LLC, a Delaware limited liability company (the “Adviser”) and Wilshire Associates Incorporated, a California corporation (the “Sub-Adviser”).

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