UNDERLYING FUNDS TRUST FIRST AMENDMENT TO THE FUND ACCOUNTING SERVICING AGREEMENT

 
FIRST AMENDMENT TO THE

THIS FIRST AMENDMENT dated as of the 12th day of April, 2007, to the Fund Accounting Servicing Agreement, dated as of April 28, 2006 (the “Agreement”), is entered by and among Alternative Investment Partners, LLC, a Delaware limited liability company (the “Adviser”), Underlying Funds Trust, a Delaware statutory trust (the “Trust”) and U.S. Bancorp Fund Services, LLC, a Wisconsin limited liability company (“USBFS”).

RECITALS

WHEREAS, the Adviser, the Trust and USBFS have entered into an Agreement; and

WHEREAS, the parties desire to amend the Agreement to add funds; and

WHEREAS, Section 15 of the Agreement allows for its amendment by a written instrument executed by all parties.

NOW, THEREFORE, the parties agree as follows:

Exhibit A of the Agreement is hereby superseded and replaced with Exhibit A attached hereto.

Except to the extent supplemented hereby, the Agreement shall remain in full force and effect.

IN WITNESS WHEREOF, the parties hereto have caused this First Amendment to be executed by a duly authorized officer on one or more counterparts as of the date and year first written above.
 

 
ALTERNATIVE INVESTMENT PARTNERS, LLC       U.S. BANCORP FUND SERVICES, LLC
   
By:     /s/ ▇▇▇ ▇▇▇▇▇▇▇▇▇                                                            By:       /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇                                    
   
Printed Name:       ▇▇▇ ▇▇▇▇▇▇▇▇▇                                             Printed Name:      ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇                        
   
Title:           President                                                                Title:       Sr.  Vice President                                        
 
                                                                                          
 

By:      /s/ ▇▇▇ ▇▇▇▇▇▇▇▇▇                                                           

Printed Name:       ▇▇▇ ▇▇▇▇▇▇▇▇▇                                             

Title:           President                                                                
                            
                                  
1

Exhibit A
to the

Fund Names



Name of  Series
Convertible Bond Arbitrage -1 Portfolio
Fixed Income Arbitrage – 1 Portfolio
Merger Arbitrage – 1 Portfolio
Long/Short Equity – Earnings Revision – 1 Portfolio
Long/Short Equity – Momentum – 1 Portfolio
Long/Short Equity – Deep Discount Value – 1 Portfolio
Long/Short Equity – International – 1 Portfolio
Long/Short Equity - Global – 1 Portfolio
Long/Short Equity – REIT – 1 Portfolio
Distressed Securities & Special Situations – 1 Portfolio
Distressed Securities & Special Situations – 2 Portfolios
Global Hedged Income – 1 Portfolio
Long/Short Equity – Healthcare/Biotech – 1 Portfolio
Equity Options Overlay – 1 Portfolio
Deep Value Hedged Income – 1 Portfolio
 
 
 

 
 
 
 

2

Document Metadata

Filed: April 30th, 2008