Common use of Appointment of the Subadviser Clause in Contracts

Appointment of the Subadviser. The Investment Manager hereby appoints the Subadviser to act as an investment subadviser for the Portfolio and to manage the investment and reinvestment of the assets of the Portfolio, subject to the supervision of the Directors of the Fund and the terms and conditions of this Agreement. The Subadviser will be an independent contractor and will have no authority to act for or represent the Fund or Investment Manager in any way or otherwise be deemed an agent of the Fund or Investment Manager except as expressly authorized in this Agreement or another writing by the Fund, Investment Manager and the Subadviser. Notwithstanding the foregoing, the Subadviser shall have full and complete discretion to establish brokerage accounts with one or more brokers, dealers, or other financial intermediaries as the Subadviser may select. The Fund will be a party to any agreement or contract which opens a futures account or options account.

Appointment of the Subadviser. The Investment Manager hereby appoints the Subadviser to act as an investment subadviser for the Portfolio Fund and to manage the investment and reinvestment of the assets of the PortfolioFund, subject to the supervision of the Directors of the Fund Trust and the terms and conditions of this Agreement. The Subadviser will be an independent contractor and will have no authority to act for or represent the Fund Trust or Investment Manager in any way or otherwise be deemed an agent of the Fund Trust or Investment Manager except as expressly authorized in this Agreement or another writing by the FundTrust, Investment Manager and the Subadviser. Notwithstanding the foregoing, the Subadviser shall have full and complete discretion to establish brokerage accounts with one or more brokers, dealers, or other financial intermediaries as the Subadviser may select. The Fund will be a party to any agreement or contract which opens a futures account or options account.