Common use of Appointment of Investment Adviser Clause in Contracts

Appointment of Investment Adviser. The Trust desires to employ the Funds’ capital by investing and reinvesting in investments of the kind and in accordance with the limitations specified in its Declaration of Trust dated March 27, 2006 (the “Charter”), and in its Prospectus as from time to time in effect (the “Prospectus”), and in the manner and to the extent as may from time to time be approved by the Board of Trustees of the Trust. The Trust desires to employ and hereby appoints the Adviser to act as investment adviser to the Funds. The Adviser accepts the appointment and agrees to furnish the services for the compensation set forth below.

Appointment of Investment Adviser. The Trust desires to employ the Funds’ capital by investing and reinvesting in investments of the kind and in accordance with the limitations specified in its Declaration of Trust dated March 27, 2006 ____---________ (the “Charter”), and in its Prospectus as from time to time in effect (the “Prospectus”), and in the manner and to the extent as may from time to time be approved by the Board of Trustees of the Trust. The Trust desires to employ and hereby appoints the Adviser to act as investment adviser to the Funds. The Adviser accepts the appointment and agrees to furnish the services for the compensation set forth below.

Appointment of Investment Adviser. The Trust desires to employ the Funds’ capital by investing and reinvesting in investments of the kind and in accordance with the limitations specified in its Declaration of Trust dated March 27April 12, 2006 2002 (the “Charter”), and in its Prospectus as from time to time in effect (the “Prospectus”), and in the manner and to the extent as may from time to time be approved by the Board of Trustees of the Trust. The Trust desires to employ and hereby appoints the Adviser to act as investment adviser to the Funds. The Adviser accepts the appointment and agrees to furnish the services for the compensation set forth below.

Appointment of Investment Adviser. The Trust desires to employ the Funds’ Fund’s capital by investing and reinvesting in investments of the kind and in accordance with the limitations specified in its Declaration of Trust dated March 27April 12, 2006 2002 (the “Charter”), and in its Prospectus as from time to time in effect (the “Prospectus”), and in the manner and to the extent as may from time to time be approved by the Board of Trustees of the Trust. The Trust desires to employ and hereby appoints the Adviser to act as investment adviser to the FundsFund. The Adviser accepts the appointment and agrees to furnish the services for the compensation set forth below.

Appointment of Investment Adviser. The Trust desires to employ the Funds’ Fund's capital by investing and reinvesting in investments of the kind and in accordance with the limitations specified in its Declaration of Trust dated March 27______, 2006 2002 (the “"Charter”"), and in its Prospectus as from time to time in effect (the “"Prospectus”"), and in the manner and to the extent as may from time to time be approved by the Board of Trustees of the Trust. The Trust desires to employ and hereby appoints the Adviser to act as investment adviser to the FundsFund. The Adviser accepts the appointment and agrees to furnish the services for the compensation set forth below.

Appointment of Investment Adviser. The Trust desires to employ the Funds’ capital by investing and reinvesting in investments of the kind and in accordance with the limitations specified in its Declaration of Trust dated March 27January 30, 2006 2012, as amended from time to time (the “Charter”), and in its Prospectus as from time to time in effect (the “Prospectus”), and in the manner and to the extent as may from time to time be approved by the Board of Trustees of the Trust. The Trust desires to employ and hereby appoints the Adviser to act as investment adviser to the Funds. The Adviser accepts the appointment and agrees to furnish the services for the compensation set forth below.

Appointment of Investment Adviser. The Trust desires to employ the Funds’ Fund’s capital by investing and reinvesting in investments of the kind and in accordance with the limitations specified in its Declaration of Trust dated March 27April 12, 2006 2002 (the “"Charter”"), and in its Prospectus as from time to time in effect (the “"Prospectus”"), and in the manner and to the extent as may from time to time be approved by the Board of Trustees of the Trust. The Trust desires to employ and hereby appoints the Adviser to act as investment adviser to the FundsFund. The Adviser accepts the appointment and agrees to furnish the services for the compensation set forth below.