Common use of APPOINTMENT OF XXXXXXX Clause in Contracts

APPOINTMENT OF XXXXXXX. IMCO hereby appoints Xxxxxxx to act as an investment adviser for each Fund Account in accordance with the terms and conditions of this Agreement. Xxxxxxx will be an independent contractor and will have no authority to act for or represent the Trust or IMCO in any way or otherwise be deemed an agent of the Trust or IMCO except as expressly authorized in this Agreement or another writing by the Trust, IMCO and Xxxxxxx. Xxxxxxx accepts such appointment and agrees to render the services herein set forth for the compensation herein provided.