Common use of Appointment as Sub-Adviser Clause in Contracts

Appointment as Sub-Adviser. The Adviser hereby appoints the Sub-adviser to act as investment adviser for and to the assets of the Fund (the “Sub-adviser Assets”) subject to the supervision of the Adviser and the Board of Trustees of the Trust and subject to the terms of this Agreement; and the Sub-adviser hereby accepts such appointment. In such capacity, the Sub-adviser shall be responsible for the investment management of the Sub-adviser Assets allocated to it. It is recognized that the Sub-adviser and certain of its affiliates may act as investment adviser to one or more other investment companies and other managed accounts and that the Adviser and the Trust do not object to such activities.

Appointment as Sub-Adviser. The Adviser hereby appoints the Sub-adviser Adviser to act as investment adviser for and to manage all of the assets of the Fund (the “Sub-adviser Assets”) subject to the supervision of the Adviser and the Board of Trustees of the Trust and subject to the terms of this Agreement; and the Sub-adviser Adviser hereby accepts such appointment. In such capacity, the Sub-adviser Adviser shall be responsible for the investment management of the Sub-adviser Assets allocated to itAssets. It is recognized that the Sub-adviser Adviser and certain of its affiliates may act as investment adviser to one or more other clients, including, without limitation, investment companies and other managed accounts and that the Adviser and the Trust do not object to such activities.

Appointment as Sub-Adviser. The Adviser hereby appoints the Sub-adviser to act as investment adviser for and to manage all of the assets of the Fund (the “Sub-adviser Assets”) subject to the supervision of the Adviser and the Board of Trustees of the Trust and subject to the terms of this Agreement; and the Sub-adviser hereby accepts such appointment. In such capacity, the Sub-adviser shall be responsible for the investment management of the Sub-adviser Assets allocated to itAssets. It is recognized that the Sub-adviser and certain of its affiliates may act as investment adviser to one or more other investment companies and other managed accounts and that the Adviser and the Trust do not object to such activities.

Appointment as Sub-Adviser. The Adviser hereby appoints the Sub-adviser Adviser to act as investment sub-adviser for and to the assets of the Fund (the “Sub-adviser Assets”) subject to the supervision of the Adviser and the Board of Trustees of the Trust Fund and subject to the terms of this Agreement; and the Sub-adviser Adviser hereby accepts such appointment. In such capacity, the Sub-adviser Adviser shall be responsible for assistance with the investment management of the Sub-adviser Assets allocated to itFund’s Assets. It is recognized that the Sub-adviser Adviser and certain of its affiliates now act, and that from time to time hereafter may act act, as investment adviser to one or more other investment companies and to fiduciary or other managed accounts and that the Adviser and the Trust do Fund cannot object to such activities.