Common use of Delegation of Responsibilities to Sub-Advisors Clause in Contracts

Delegation of Responsibilities to Sub-Advisors. The Advisor may, at its expense, select and contract with one or more investment advisors registered under the Investment Advisers Act of 1940 ("Sub-Advisors") to perform some or all of the services for a Portfolios for which it is responsible under this Agreement. The Advisor will compensate any Sub-Advisor for its services to a Portfolio. The Advisor may terminate the services of any Sub-Advisor at any time in its sole discretion, and shall at such time assume the responsibility of such Sub-Advisor unless and until a successor Sub-Advisor is selected and the requisite approval of all of the Portfolio's shareholders is obtained. The Advisor will continue to have responsibility for all advisory services furnished by any Sub-Advisor.

Delegation of Responsibilities to Sub-Advisors. The Advisor may, at its expense, select and contract with one or more investment advisors registered under the Investment Advisers Act of 1940 ("“Sub-Advisors"”) to perform some or all of the services for a Portfolios for which it is responsible under this Agreement. The Advisor will compensate any Sub-Advisor for its services to a Portfolio. The Advisor may terminate the services of any Sub-Advisor at any time in its sole discretion, and shall at such time assume the responsibility of such Sub-Advisor unless and until a successor Sub-Advisor is selected and the requisite approval of all of the Portfolio's ’s shareholders is obtained. The Advisor will continue to have responsibility for all advisory services furnished by any Sub-Advisor.