Common use of Attendance of Board Meetings; Reports to the Fund’s Board; Escalation Clause in Contracts

Attendance of Board Meetings; Reports to the Fund’s Board; Escalation. (a) The CCO shall attend up to four board meetings per year, including, at the request of Fund, one in person. (b) The CCO shall make regular reports to the Board of Directors of the Fund regarding its administration and enforcement of the Compliance Program. These regular reports shall address compliance by the Fund and the Service Providers and such other matters as the Board of Directors of the Fund may reasonably request. (c) In addition, at least annually, the CCO shall submit a written report to the Board of Directors of the Fund addressing the following issues: a. the operation of the Compliance Program, and the written compliance policies and procedures of the Service Providers; b. any material changes made to the Compliance Program since the date of the last report; c. any material changes to the Compliance Program recommended as a result of the Annual Review; and d. each “Material Compliance Matter” that occurred since the date of the last report. (d) This written report shall be based on the Annual Review. The first written report shall be presented to the Board of Directors of the Fund no later than 90 days after the date of the first Annual Review. (e) The CCO shall report any Material Compliance Matters to the Board of Directors at least quarterly.

Attendance of Board Meetings; Reports to the Fund’s Board; Escalation. (a) The CCO shall attend up to four board meetings per year, including, at the request of the Fund, one in person. (b) The CCO shall make regular reports to the Board of Directors of the Fund regarding its administration and enforcement of the Compliance Program. These regular reports shall address compliance by the Fund and the Service Providers and such other matters as the Board of Directors of the Fund may reasonably request. (c) In addition, at least annually, the CCO shall submit a written report to the Board of Directors of the Fund addressing the following issues: a. the operation of the Compliance Program, and the written compliance policies and procedures of the Service Providers; b. any material changes made to the Compliance Program since the date of the last report; c. any material changes to the Compliance Program recommended as a result of the Annual Review; and d. each “Material Compliance Matter” that occurred since the date of the last report. (d) This written report shall be based on the Annual Review. The first written report shall be presented to the Board of Directors of the Fund no later than 90 days after the date of the first Annual Review. (e) The CCO shall report any Material Compliance Matters to the Board of Directors at least quarterly.

Attendance of Board Meetings; Reports to the Fund’s Board; Escalation. (a) The CCO shall attend up to four board meetings per year, including, at the request of Fund, including one in person. (b) The CCO shall make regular reports to the Board of Directors Trustees of the Fund regarding its administration and enforcement of the Compliance Program. These regular reports shall address compliance by the Fund and the Service Providers and such other matters as the Board of Directors Trustees of the Fund may reasonably request. (c) In addition, at least annually, the CCO shall submit a written report to the Board of Directors Trustees of the Fund addressing the following issues: a. the operation of the Compliance Program, and the written compliance policies and procedures of the Service Providers; b. any material changes made to the Compliance Program since the date of the last report; c. any material changes to the Compliance Program recommended as a result of the Annual Review; and d. each “Material Compliance Matter” that occurred since the date of the last report. (d) This written report shall be based on the Annual Review. The first written report shall be presented to the Board of Directors Trustees of the Fund no later than 90 days after the date of the first Annual Review. (e) The CCO shall report any Material Compliance Matters to the Board of Directors Trustees at least quarterly.

Attendance of Board Meetings; Reports to the Fund’s Board; Escalation. (a) The CCO shall attend up to four board meetings per year, including, at the request of Fund, one in person. (b) The CCO shall make regular reports to the Board of Directors Trustees of the Fund regarding its administration and enforcement of the Compliance Program. These regular reports shall address compliance by the Fund and the Service Providers and such other matters as the Board of Directors Trustees of the Fund may reasonably request. (c) In addition, at least annually, the CCO shall submit a written report to the Board of Directors Trustees of the Fund addressing the following issues: a. the operation of the Compliance Program, and the written compliance policies and procedures of the Service Providers; b. any material changes made to the Compliance Program since the date of the last report; c. any material changes to the Compliance Program recommended as a result of the Annual Review; and d. each “Material Compliance Matter” that occurred since the date of the last report. (d) This written report shall be based on the Annual Review. The first written report shall be presented to the Board of Directors Trustees of the Fund no later than 90 days after the date of the first Annual Review. (e) The CCO shall report any Material Compliance Matters to the Board of Directors Trustees at least quarterly.

Attendance of Board Meetings; Reports to the Fund’s Board; Escalation. (a) The CCO shall attend up to four board meetings per year, including, at the request of Fund, including one in personperson or as agreed upon by the Board of Trustees and CCO. (b) The CCO shall make regular reports to the Board of Directors Trustees of the Fund regarding its administration and enforcement of the Compliance Program. These regular reports shall address compliance by the Fund and the Service Providers and such other matters as the Board of Directors Trustees of the Fund may reasonably request. (c) In addition, at least annually, the CCO shall submit a written report to the Board of Directors Trustees of the Fund addressing the following issues: a. the operation of the Compliance Program, and the written compliance policies and procedures of the Service Providers; b. any material changes made to the Compliance Program since the date of the last report; c. any material changes to the Compliance Program recommended as a result of the Annual Review; and d. each “Material Compliance Matter” that occurred since the date of the last report. (d) This written report shall be based on the Annual Review. The first written report shall be presented to the Board of Directors Trustees of the Fund no later than 90 days after the date of the first Annual Review. (e) The CCO shall report any Material Compliance Matters to the Board of Directors Trustees at least quarterly.

Attendance of Board Meetings; Reports to the Fund’s Board; Escalation. (a) The CCO shall attend up each regular meeting of the Board each year. The CCO shall also attend each special meeting of the Board for which CCO attendance would be expected based on the agenda of such meeting, and each other special meeting to four board meetings per year, including, at the request of Fund, one in personextent the CCO can reasonably make arrangements to attend. (b) The CCO shall make regular reports to the Board of Directors Trustees of the Fund regarding its administration and enforcement of the Compliance Program. These regular reports shall address compliance by the Fund and the Service Providers and such other matters as the Board of Directors Trustees of the Fund may reasonably request. (c) In addition, at least annually, the CCO shall submit a written report to the Board of Directors Trustees of the Fund addressing the following issues: a. the operation of the Compliance Program, and the written compliance policies and procedures of the Service Providers; b. any material changes made to the Compliance Program since the date of the last report; c. any material changes to the Compliance Program recommended as a result of the Annual Review; and d. each “Material Compliance Matter” that occurred since the date of the last report. (d) This written report shall be based on the Annual Review. The first written report shall be presented to the Board of Directors Trustees of the Fund no later than 90 days after the date of the first Annual Review. (e) The CCO shall report any Material Compliance Matters to the Board of Directors Trustees at least quarterly.