Exhibit 4(c)

 BLACKROCK FUNDS

 Addendum No. 3 to the Investment Advisory Agreement

      This Addendum dated as of the ___ day of ________, 2010 is entered into by and between BLACKROCK FUNDS, a Massachusetts business trust (the “Fund”) and BLACKROCK ADVISORS, LLC, a Delaware limited liability company (the “Adviser”).

      WHEREAS, the Fund and the Adviser have entered into an Investment Advisory Agreement dated as of September 29, 2006 (the “Advisory Agreement”) pursuant to which the Fund appointed the Adviser to act as investment adviser to certain investment portfolios of the Fund; and

      WHEREAS, Section 1(b) of the Advisory Agreement provides that in the event the Fund establishes one or more additional investment portfolios with respect to which it desires to retain the Adviser to act as investment adviser under the Advisory Agreement, the Fund shall so notify the Adviser in writing and if the Adviser is willing to render such services it shall so notify the Fund in writing; and

      WHEREAS, pursuant to Section 1(b) of the Advisory Agreement, the Fund has notified the Adviser that it is establishing the BlackRock World Gold Fund (the “New Portfolio”), and that it desires to retain the Adviser to act as the investment adviser therefore, and the Adviser has notified the Fund that it is willing to serve as investment adviser to the New Portfolio;

      NOW, THEREFORE, the parties hereto, intending to be legally bound, hereby agree as follows:

	      	 1.            	 Appointment. The Fund hereby appoints the Adviser to act as investment adviser to the New Portfolio for the period and on the terms set forth in the Advisory Agreement. The Adviser hereby accepts such appointment and agrees to render the services set forth in the Advisory Agreement with respect to the New Portfolio for the compensation herein provided.      
	 	 	 
	 	 2.            	 Compensation.   
	 	 	 
	 	 	 The Adviser shall receive compensation from the Fund on behalf of the New Portfolio for the services provided and the expenses assumed pursuant to the Advisory Agreement computed daily and payable monthly, at the maximum annual rates set forth below:     




				
	      	               	 Average Daily Net Assets 
      

    	 Management Fee 
      

    
	 	 	 First $1 billion	 0.75%
	 	 	 $1 billion – $2 billion	 0.70%
	 	 	 $2 billion – $3 billion	 0.675%
	 	 	 Greater than $3 billion	 0.65%












	      	 3.         	 Capitalized Terms. From and after the date hereof, the term “Portfolio” as used in the Advisory Agreement shall be deemed to include the BlackRock World Gold Fund.       
	 	 	 
	 	 4.         	 Miscellaneous. Except to the extent supplemented hereby, the Advisory Agreement shall remain unchanged and in full force and effect, and is hereby ratified and confirmed in all respects as supplemented hereby. Without limiting the generality of the foregoing, it is understood that the Adviser may employ one or more sub-advisers for the New Portfolio pursuant to Section 2 of the Advisory Agreement.    
	 	 	 
	 	 5.         	 Release. “BlackRock Funds” and “Trustees
of BlackRock Funds” refer respectively to the trust created and the
Trustees, as trustees but not individually or personally, acting from time to
time under a Declaration of Trust dated December 22, 1988, as amended, which is
hereby referred to and a copy of which is on file at the office of the State
Secretary of the Commonwealth of Massachusetts and at the principal office of
the Fund. The obligations of “BlackRock Funds” entered into in the
name or on behalf thereof by any of the Trustees, officers, representatives or
agents are made not individually, but in such capacities, and are not binding
upon any of the Trustees, shareholders, officers, representatives or agents of
the Fund personally, but bind only the Trust Property (as defined in the
Declaration of Trust), and all persons dealing with any class of shares of the
Fund must look solely to the Trust Property belonging to such class for the
enforcement of any claims against the Fund. 


 [End of Text]

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      IN WITNESS WHEREOF, the parties hereto have caused this Addendum No. 3 to the Advisory Agreement to be executed by their officers designated below as of the day and year first above written.

			
	    	 BLACKROCK FUNDS
	 	 	  
	 	 	  
	 	By:	
      

      

    
	 	 	 Name:
	 	 	 Title:
	 	 	  
	 	 	  
	 	 BLACKROCK ADVISORS, LLC
	 	 	  
	 	 	  
	 	By:	
      

      

    
	 	 	 Name:
	 	 	 Title:



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