Appointment of Investment Consultant. (a) The Governing Board, acting through the Chief Investment Officer, shall be ultimately responsible for making all investment decisions regarding the Portfolio Assets of all Portfolios in accordance with the Investment Guidelines applicable to such Portfolio. Consistent with the Governing Board’s ultimate responsibility as stated herein, the Governing Board may contract with the Investment Consultant, subject to the consent by resolution of the governing board of each Participant, to provide investment advice to the Chief Investment Officer pursuant to the terms of the Investment Advisory Agreement. Although neither the Lead Agent nor the Governing Board may delegate the authority to make investment decisions to the Investment Consultant, the Chief Investment Officer may obtain advice from the Investment Consultant before making such investment decisions. The Investment Consultant may also serve as or be an Affiliate of the Administrator, the Marketing Agent and a Custodian. The Investment Consultant shall be liable to the Lead Agent, the Chief Investment Officer and the Governing Board under the terms of the Indemnity Agreement.
Appointment of Investment Consultant. The Investment Consultant hereby agrees to act as sub-adviser to the Advisor in relation to the Funds and to give such investment advice to the Advisor with respect to the Funds as the Advisor may from time to time request. In addition, the Advisor may from time to time appoint the Investment Consultant to act as investment adviser to manage directly a portion of the assets of a Fund. This Agreement will come into force after due execution by the Advisor and the Investment Consultant upon the date with which it is dated at page 1.
Appointment of Investment Consultant. A. The Fund appoints Investment Consultant for the performance of investment consultant services to be provided in accordance with the terms of this Agreement and the scope of services set forth in Exhibit A, which is attached hereto and incorporated herein by reference. Investment Consultant shall for all purposes be deemed an independent contractor, and, unless otherwise expressly authorized or provided, shall not have authority to act for or represent either the Fund or the Boards of Trustees in any way or otherwise be deemed an agent of either the Fund or the Boards of Trustees.
