Common use of Duration and Termination of this Agreement Clause in Contracts

Duration and Termination of this Agreement. This Agreement shall remain in force until March 1, 1998, and continue in force from year to year thereafter, but only so long as such continuance is specifically approved at least annually (a) by the vote of a majority of the Trustees who are not parties to this Agreement or interested persons of any party to this Agreement, cast in person at a meeting called for the purpose of voting on such approval, and (b) by the Trustees of the Trust, or by the vote of a majority of the outstanding voting securities of the Fund. The aforesaid requirement that continuance of this Agreement be "specifically approved at least annually" shall be construed in a manner consistent with the 1940 Act and the rules and regulations thereunder and any applicable SEC exemptive order therefrom. This Agreement may be terminated with respect to the Fund at any time, without the payment of any penalty, by the vote of a majority of the outstanding voting securities of the Fund or by the Trust's Board of Trustees on 60 days' written notice to you, or by you on 60 days' written notice to the Trust. This Agreement shall terminate automatically in the event of its assignment. This Agreement may be terminated with respect to the Fund at any time without the payment of any penalty by the Board of Trustees or by vote of a majority of the outstanding voting securities of the Fund in the event that it shall have been established by a court of competent jurisdiction that you or any of your officers or directors has taken any action which results in a breach of your covenants set forth herein.

Duration and Termination of this Agreement. This Agreement shall remain in force until March April 1, 1998, and continue in force from year to year thereafter, but only so long as such continuance is specifically approved at least annually (a) by the vote of a majority of the Trustees who are not parties to this Agreement or interested persons of any party to this Agreement, cast in person at a meeting called for the purpose of voting on such approval, and (b) by the Trustees of the Trust, or by the vote of a majority of the outstanding voting securities of the Fund. The aforesaid requirement that continuance of this Agreement be "specifically approved at least annually" shall be construed in a manner consistent with the 1940 Act and the rules and regulations thereunder and any applicable SEC exemptive order therefrom. This Agreement may be terminated with respect to the Fund at any time, without the payment of any penalty, by the vote of a majority of the outstanding voting securities of the Fund or by the Trust's Board of Trustees on 60 days' written notice to you, or by you on 60 days' written notice to the Trust. This Agreement shall terminate automatically in the event of its assignment. This Agreement may be terminated with respect to the Fund at any time without the payment of any penalty by the Board of Trustees or by vote of a majority of the outstanding voting securities of the Fund in the event that it shall have been established by a court of competent jurisdiction that you or any of your officers or directors has taken any action which results in a breach of your covenants set forth herein.

Duration and Termination of this Agreement. This Agreement shall remain in force until March 1September 30, 19982002, and continue in force from year to year thereafter, but only so long as such continuance is specifically approved at least annually (a) by the vote of a majority of the Trustees who are not parties to this Agreement or interested persons of any party to this Agreement, cast in person at a meeting called for the purpose of voting on such approval, and (b) by the Trustees of the Trust, or by the vote of a majority of the outstanding voting securities of the Fund. The aforesaid requirement that continuance of this Agreement be "specifically approved at least annually" shall be construed in a manner consistent with the 1940 Act and the rules and regulations thereunder and any applicable SEC exemptive order therefrom. This Agreement may be terminated with respect to the Fund at any time, without the payment of any penalty, by the vote of a majority of the outstanding voting securities of the Fund or by the Trust's Board of Trustees on 60 days' written notice to you, or by you on 60 days' written notice to the Trust. This Agreement shall terminate automatically in the event of its assignment. This Agreement may be terminated with respect to the Fund at any time without the payment of any penalty by the Board of Trustees or by vote of a majority of the outstanding voting securities of the Fund in the event that it shall have been established by a court of competent jurisdiction that you or any of your officers or directors has taken any action which results in a breach of your covenants set forth herein.

Duration and Termination of this Agreement. This Agreement shall remain in force until March 1September 30, 19981999, and continue in force from year to year thereafter, but only so long as such continuance is specifically approved at least annually (a) by the vote of a majority of the Trustees who are not parties to this Agreement or interested persons of any party to this Agreement, cast in person at a meeting called for the purpose of voting on such approval, and (b) by the Trustees of the Trust, or by the vote of a majority of the outstanding voting securities of the Fund. The aforesaid requirement that continuance of this Agreement be "specifically approved at least annually" shall be construed in a manner consistent with the 1940 Act and the rules and regulations thereunder and any applicable SEC exemptive order therefrom. This Agreement may be terminated with respect to the Fund at any time, without the payment of any penalty, by the vote of a majority of the outstanding voting securities of the Fund or by the Trust's Board of Trustees on 60 days' written notice to you, or by you on 60 days' written notice to the Trust. This Agreement shall terminate automatically in the event of its assignment. This Agreement may be terminated with respect to the Fund at any time without the payment of any penalty by the Board of Trustees or by vote of a majority of the outstanding voting securities of the Fund in the event that it shall have been established by a court of competent jurisdiction that you or any of your officers or directors has taken any action which results in a breach of your covenants set forth herein.

Duration and Termination of this Agreement. This Agreement shall remain in force until March April 1, 1998, 1999 and continue in force from year to year thereafter, but only so long as such continuance is specifically approved at least annually (a) by the vote of a majority of the Trustees Directors who are not parties to this Agreement or interested persons of any party to this Agreement, cast in person at a meeting called for the purpose of voting on such approval, and (b) by the Trustees Directors of the TrustCorporation, or by the vote of a majority of the outstanding voting securities of the Fund. The aforesaid requirement that continuance of this Agreement be "specifically approved at least annually" shall be construed in a manner consistent with the 1940 Act and the rules and regulations thereunder and any applicable SEC exemptive order therefrom. This Agreement may be terminated with respect to the Fund at any time, without the payment of any penalty, by the vote of a majority of the outstanding voting securities of the Fund or by the TrustCorporation's Board of Trustees Directors on 60 days' written notice to you, or by you on 60 days' written notice to the TrustCorporation. This Agreement shall terminate automatically in the event of its assignment. This Agreement may be terminated with respect to the Fund at any time without the payment of any penalty by the Board of Trustees Directors or by vote of a majority of the outstanding voting securities of the Fund in the event that it shall have been established by a court of competent jurisdiction that you or any of your officers or directors has taken any action which results in a breach of your covenants set forth herein.

Duration and Termination of this Agreement. This Agreement shall remain in force until March 1September 30, 19982000, and continue in force from year to year thereafter, but only so long as such continuance is specifically approved at least annually (a) by the vote of a majority of the Trustees who are not parties to this Agreement or interested persons of any party to this Agreement, cast in person at a meeting called for the purpose of voting on such approval, and (b) by the Trustees of the Trust, or by the vote of a majority of the outstanding voting securities of the Fund. The aforesaid requirement that continuance of this Agreement be "specifically approved at least annually" shall be construed in a manner consistent with the 1940 Act and the rules and regulations thereunder and any applicable SEC exemptive order therefrom. This Agreement may be terminated with respect to the Fund at any time, without the payment of any penalty, by the vote of a majority of the outstanding voting securities of the Fund or by the Trust's Board of Trustees on 60 days' written notice to you, or by you on 60 days' written notice to the Trust. This Agreement shall terminate automatically in the event of its assignment. This Agreement may be terminated with respect to the Fund at any time without the payment of any penalty by the Board of Trustees or by vote of a majority of the outstanding voting securities of the Fund in the event that it shall have been established by a court of competent jurisdiction that you or any of your officers or directors has taken any action which results in a breach of your covenants set forth herein.

Duration and Termination of this Agreement. This Agreement shall remain in force until March April 1, 1998, and continue in force from year to year thereafter, but only so long as such continuance is specifically approved at least annually (a) by the vote of a majority of the Trustees who are not parties to this Agreement or interested persons of any party to this Agreement, cast in person at a meeting called for the purpose of voting on such approval, and (b) by the Trustees of the TrustFund, or by the vote of a majority of the outstanding voting securities of the Fund. The aforesaid requirement that continuance of this Agreement be "specifically approved at least annually" shall be construed in a manner consistent with the 1940 Act and the rules and regulations thereunder and any applicable SEC exemptive order therefrom. This Agreement may be terminated with respect to the Fund at any time, without the payment of any penalty, by the vote of a majority of the outstanding voting securities of the Fund or by the TrustFund's Board of Trustees on 60 days' written notice to you, or by you on 60 days' written notice to the TrustFund. This Agreement shall terminate automatically in the event of its assignment. This Agreement may be terminated with respect to the Fund at any time without the payment of any penalty by the Board of Trustees or by vote of a majority of the outstanding voting securities of the Fund in the event that it shall have been established by a court of competent jurisdiction that you or any of your officers or directors has taken any action which results in a breach of your covenants set forth herein.

Duration and Termination of this Agreement. This Agreement shall remain in force until March December 1, 1998, and continue in force from year to year thereafter, but only so long as such continuance is specifically approved at least annually (a) by the vote of a majority of the Trustees who are not parties to this Agreement or interested persons of any party to this Agreement, cast in person at a meeting called for the purpose of voting on such approval, and (b) by the Trustees of the Trust, or by the vote of a majority of the outstanding voting securities of the Fund. The aforesaid requirement that continuance of this Agreement be "specifically approved at least annually" shall be construed in a manner consistent with the 1940 Act and the rules and regulations thereunder and any applicable SEC exemptive order therefrom. This Agreement may be terminated with respect to the Fund at any time, without the payment of any penalty, by the vote of a majority of the outstanding voting securities of the Fund or by the Trust's Board of Trustees on 60 days' written notice to you, or by you on 60 days' written notice to the Trust. This Agreement shall terminate automatically in the event of its assignment. This Agreement may be terminated with respect to the Fund at any time without the payment of any penalty by the Board of Trustees or by vote of a majority of the outstanding voting securities of the Fund in the event that it shall have been established by a court of competent jurisdiction that you or any of your officers or directors has taken any action which results in a breach of your covenants set forth herein.

Duration and Termination of this Agreement. This Agreement shall remain in force until March December 1, 1998, and continue in force from year to year thereafterthereafter with respect to each Fund, but only so long as such continuance is specifically approved for each Fund at least annually (a) by the vote of a majority of the Trustees who are not parties to this Agreement or interested persons of any party to this Agreement, cast in person at a meeting called for the purpose of voting on such approval, and (b) by the Trustees of the Trust, or by the vote of a majority of the outstanding voting securities of the such Fund. The aforesaid requirement that continuance of this Agreement be "specifically approved at least annually" shall be construed in a manner consistent with the 1940 Act and the rules and regulations thereunder and any applicable SEC exemptive order therefrom. This Agreement may be terminated with respect to the a Fund at any time, without the payment of any penalty, by the vote of a majority of the outstanding voting securities of the such Fund or by the Trust's Board of Trustees on 60 days' written notice to you, or by you on 60 days' written notice to the Trust. This Agreement shall terminate automatically in the event of its assignment. This Agreement may be terminated with respect to the a Fund at any time without the payment of any penalty by the Board of Trustees or by vote of a majority of the outstanding voting securities of the such Fund in the event that it shall have been established by a court of competent jurisdiction that you or any of your officers or directors has taken any action which results in a breach of your covenants set forth herein.

Duration and Termination of this Agreement. This Agreement shall remain in force until March April 1, 1998, and continue in force from year to year thereafter, but only so long as such continuance is specifically approved at least annually (a) by the vote of a majority of the Trustees Directors who are not parties to this Agreement or interested persons of any party to this Agreement, cast in person at a meeting called for the purpose of voting on such approval, and (b) by the Trustees Directors of the TrustCorporation, or by the vote of a majority of the outstanding voting securities of the Fund. The aforesaid requirement that continuance of this Agreement be "specifically approved at least annually" shall be construed in a manner consistent with the 1940 Act and the rules and regulations thereunder and any applicable SEC exemptive order therefrom. This Agreement may be terminated with respect to the Fund at any time, without the payment of any penalty, by the vote of a majority of the outstanding voting securities of the Fund or by the TrustCorporation's Board of Trustees Directors on 60 days' written notice to you, or by you on 60 days' written notice to the TrustCorporation. This Agreement shall terminate automatically in the event of its assignment. This Agreement may be terminated with respect to the Fund at any time without the payment of any penalty by the Board of Trustees Directors or by vote of a majority of the outstanding voting securities of the Fund in the event that it shall have been established by a court of competent jurisdiction that you or any of your officers or directors has taken any action which results in a breach of your covenants set forth herein.

Duration and Termination of this Agreement. This Agreement shall remain in force until March 1September 30, 19982005, and continue in force from year to year thereafter, but only so long as such continuance is specifically approved at least annually (a) by the vote of a majority of the Trustees who are not parties to this Agreement or interested persons of any party to this Agreement, cast in person at a meeting called for the purpose of voting on such approval, and (b) by the Trustees of the Trust, or by the vote of a majority of the outstanding voting securities of the Fund. The aforesaid requirement that continuance of this Agreement be "specifically approved at least annually" shall be construed in a manner consistent with the 1940 Act and the rules and regulations thereunder and any applicable SEC exemptive order therefrom. This Agreement may be terminated with respect to the Fund at any time, without the payment of any penalty, by the vote of a majority of the outstanding voting securities of the Fund or by the Trust's Board of Trustees on 60 days' written notice to you, or by you on 60 days' written notice to the Trust. This Agreement shall terminate automatically in the event of its assignment. This Agreement may be terminated with respect to the Fund at any time without the payment of any penalty by the Board of Trustees or by vote of a majority of the outstanding voting securities of the Fund in the event that it shall have been established by a court of competent jurisdiction that you or any of your officers or directors has taken any action which results in a breach of your covenants set forth herein.

Duration and Termination of this Agreement. This Agreement shall remain in force until March April 1, 19981999, and continue in force from year to year thereafter, but only so long as such continuance is specifically approved at least annually (a) by the vote of a majority of the Trustees who are not parties to this Agreement or interested persons of any party to this Agreement, cast in person at a meeting called for the purpose of voting on such approval, and (b) by the Trustees of the Trust, or by the vote of a majority of the outstanding voting securities of the Fund. The aforesaid requirement that continuance of this Agreement be "specifically approved at least annually" shall be construed in a manner consistent with the 1940 Act and the rules and regulations thereunder and any applicable SEC exemptive order therefrom. This Agreement may be terminated with respect to the Fund at any time, without the payment of any penalty, by the vote of a majority of the outstanding voting securities of the Fund or by the Trust's Board of Trustees on 60 days' written notice to you, or by you on 60 days' written notice to the Trust. This Agreement shall terminate automatically in the event of its assignment. This Agreement may be terminated with respect to the Fund at any time without the payment of any penalty by the Board of Trustees or by vote of a majority of the outstanding voting securities of the Fund in the event that it shall have been established by a court of competent jurisdiction that you or any of your officers or directors has taken any action which results in a breach of your covenants set forth herein.

Duration and Termination of this Agreement. This Agreement shall remain in force until March 117, 1998, 1995 and continue in force from year to year thereafter, but only so long as such continuance is specifically approved at least annually (a) by the vote of a majority of the Trustees who are not parties to this Agreement or interested persons of any party to this Agreementyou or of the Trust, cast in person at a meeting called for the purpose of voting on such approval, approval and (b) by the Trustees a vote of the Trust, Board of Trustees or by the vote of a majority of the outstanding voting securities of the Fund. The aforesaid requirement that continuance of this Agreement be "specifically approved at least annually" shall be construed in a manner consistent with the Investment Company Act of 1940 Act and the rules and regulations thereunder and any applicable SEC exemptive order therefromthereunder. This Agreement may may, on 60 days written notice, be terminated with respect to the Fund at any time, time without the payment of any penalty, by the vote of a majority of the outstanding voting securities of the Fund or by the Trust's Board of Trustees on 60 days' written notice to youTrustees, or by you on 60 days' written notice to the Trust. This Agreement shall terminate automatically in the event of its assignment. This Agreement may be terminated with respect to the Fund at any time without the payment of any penalty by the Board of Trustees or by vote of a majority of the outstanding voting securities of the Fund Fund, or by you. This Agreement shall automatically terminate in the event that it of its assignment. In interpreting the provisions of this Agreement, the definitions contained in Section 2(a) of the Investment Company Act of 1940 (particularly the definitions of "interested person," "assignment" and "majority of the outstanding voting securities"), as from time to time amended, shall have been established be applied, subject, however, to such exemptions as may be granted by a court of competent jurisdiction that you the Securities and Exchange Commission by any rule, regulation or any of your officers or directors has taken any action which results in a breach of your covenants set forth hereinorder.

Duration and Termination of this Agreement. This Agreement shall remain in force until March 1September 30, 19982007, and continue in force from year to year thereafter, but only so long as such continuance is specifically approved at least annually (a) by the vote of a majority of the Trustees who are not parties to this Agreement or interested persons of any party to this Agreement, cast in person at a meeting called for the purpose of voting on such approval, and (b) by the Trustees of the Trust, or by the vote of a majority of the outstanding voting securities of the Fund. The aforesaid requirement that continuance of this Agreement be "“specifically approved at least annually" ” shall be construed in a manner consistent with the 1940 Act and the rules and regulations thereunder and any applicable SEC exemptive order therefrom. This Agreement may be terminated with respect to the Fund at any time, without the payment of any penalty, by the vote of a majority of the outstanding voting securities of the Fund or by the Trust's ’s Board of Trustees on 60 days' ’ written notice to you, or by you on 60 days' ’ written notice to the Trust. This Agreement shall terminate automatically in the event of its assignment. This Agreement may be terminated with respect to the Fund at any time without the payment of any penalty by the Board of Trustees or by vote of a majority of the outstanding voting securities of the Fund in the event that it shall have been established by a court of competent jurisdiction that you or any of your officers or directors has taken any action which results in a breach of your covenants set forth herein.

Duration and Termination of this Agreement. This Agreement shall remain in force until March 1September 30, 19982002, and continue in force from year to year thereafter, but only so long as such continuance is specifically approved at least annually (a) by the vote of a majority of the Trustees who are not parties to this Agreement or interested persons of any party to this Agreement, cast in person at a meeting called for the purpose of voting on such approval, and (b) by the Trustees of the Trust, or by the vote of a majority of the outstanding voting securities of the such Fund. The aforesaid requirement that continuance of this Agreement be "specifically approved at least annually" shall be construed in a manner consistent with the 1940 Act and the rules and regulations thereunder and any applicable SEC exemptive order therefrom. This Agreement may be terminated with respect to the a Fund at any time, without the payment of any penalty, by the vote of a majority of the outstanding voting securities of the such Fund or by the Trust's Board of Trustees on 60 days' written notice to you, or by you on 60 days' written notice to the Trust. This Agreement shall terminate automatically in the event of its assignment. This Agreement may be terminated with respect to the a Fund at any time without the payment of any penalty by the Board of Trustees or by vote of a majority of the outstanding voting securities of the Fund in the event that it shall have been established by a court of competent jurisdiction that you or any of your officers or directors has taken any action which results in a breach of your covenants set forth herein.

Duration and Termination of this Agreement. This Agreement shall remain in force until March 1September 30, 1998, 1999 and continue in force from year to year thereafter, but only so long as such continuance is specifically approved at least annually (a) by the vote of a majority of the Trustees who are not parties to this Agreement or interested persons of any party to this Agreement, cast in person at a meeting called for the purpose of voting on such approval, and (b) by the Trustees of the Trust, or by the vote of a majority of the outstanding voting securities of the Fund. The aforesaid requirement that continuance of this Agreement be "specifically approved at least annually" shall be construed in a manner consistent with the 1940 Act and the rules and regulations thereunder and any applicable SEC exemptive order therefrom. This Agreement may be terminated with respect to the Fund at any time, without the payment of any penalty, by the vote of a majority of the outstanding voting securities of the Fund or by the Trust's Board of Trustees on 60 days' written notice to you, or by you on 60 days' written notice to the Trust. This Agreement shall terminate automatically in the event of its assignment. This Agreement may be terminated with respect to the Fund at any time without the payment of any penalty by the Board of Trustees or by vote of a majority of the outstanding voting securities of the Fund in the event that it shall have been established by a court of competent jurisdiction that you or any of your officers or directors has taken any action which results in a breach of your covenants set forth herein.

Duration and Termination of this Agreement. This Agreement shall remain in ------------------------------------------ force as to each Fund until March 1June 30, 1998, 1998 and shall continue in force from year to for periods of one year thereafter, but only so long as such continuance is specifically approved at least annually (a) by the vote of a majority of the Trustees who are not parties to this Agreement or interested persons (as defined in the 0000 Xxx) of any party to the Registrant and have no financial interest in this Agreement, cast in person at a meeting called for the purpose of voting on such approval, approval and (b) by a vote of a majority of the Trustees of the Trust, Registrant or by the vote of a majority of the outstanding voting securities of the such Fund. The aforesaid requirement that continuance of this Agreement be "specifically approved at least annually" shall be construed in a manner consistent with the 1940 Act and the rules and regulations thereunder and any applicable SEC exemptive order therefromthereunder. This Agreement may may, on 60 days written notice to the other party, be terminated with respect in its entirety or as to the a particular Fund at any time, time without the payment of any penalty, by the vote of a majority Trustees of the outstanding voting securities of the Fund or by the Trust's Board of Trustees on 60 days' written notice to youRegistrant, or by you on 60 days' written notice to the Trust. This Agreement shall terminate automatically in the event of its assignment. This Agreement may be terminated with respect to the Fund at any time without the payment of any penalty by the Board of Trustees or by vote of a majority of the outstanding voting securities of the Fund a Fund, or by you. This Agreement shall automatically terminate in the event that it of its assignment. In interpreting the provisions of this Agreement, the definitions contained in Section 2(a) of the 1940 Act (particularly the definitions of "interested person," "assignment" and "majority of the outstanding voting securities"), as from time to time amended, shall have been established be applied, subject, however, to such exemptions as may be granted by a court of competent jurisdiction that you the Securities and Exchange Commission by any rule, regulation or any of your officers or directors has taken any action which results in a breach of your covenants set forth hereinorder.

Duration and Termination of this Agreement. This Agreement shall remain in force until March 1September 30, 19981999, and continue in force from year to year thereafterthereafter with respect to each Fund, but only so long as such continuance is specifically approved for each Fund at least annually (a) by the vote of a majority of the Trustees who are not parties to this Agreement or interested persons of any party to this Agreement, cast in person at a meeting called for the purpose of voting on such approval, and (b) by the Trustees of the Trust, or by the vote of a majority of the outstanding voting securities of the such Fund. The aforesaid requirement that continuance of this Agreement be "specifically approved at least annually" shall be construed in a manner consistent with the 1940 Act and the rules and regulations thereunder and any applicable SEC exemptive order therefrom. This Agreement may be terminated with respect to the a Fund at any time, without the payment of any penalty, by the vote of a majority of the outstanding voting securities of the such Fund or by the Trust's Board of Trustees on 60 days' written notice to you, or by you on 60 days' written notice to the Trust. This Agreement shall terminate automatically in the event of its assignment. This Agreement may be terminated with respect to the a Fund at any time without the payment of any penalty by the Board of Trustees or by vote of a majority of the outstanding voting securities of the such Fund in the event that it shall have been established by a court of competent jurisdiction that you or any of your officers or directors has taken any action which results in a breach of your covenants set forth herein.

Duration and Termination of this Agreement. This Agreement shall remain in force until March 1September 30, 19982006, and continue in force from year to year thereafter, but only so long as such continuance is specifically approved at least annually (a) by the vote of a majority of the Trustees Directors who are not parties to this Agreement or interested persons of any party to this Agreement, cast in person at a meeting called for the purpose of voting on such approval, and (b) by the Trustees Directors of the TrustCorporation, or by the vote of a majority of the outstanding voting securities of the Fund. The aforesaid requirement that continuance of this Agreement be "specifically approved at least annually" shall be construed in a manner consistent with the 1940 Act and the rules and regulations thereunder and any applicable SEC exemptive order therefrom. This Agreement may be terminated with respect to the Fund at any time, without the payment of any penalty, by the vote of a majority of the outstanding voting securities of the Fund or by the TrustCorporation's Board of Trustees Directors on 60 days' written notice to you, or by you on 60 days' written notice to the TrustCorporation. This Agreement shall terminate automatically in the event of its assignment. This Agreement may be terminated with respect to the Fund at any time without the payment of any penalty by the Board of Trustees Directors or by vote of a majority of the outstanding voting securities of the Fund in the event that it shall have been established by a court of competent jurisdiction that you or any of your officers or directors has taken any action which results in a breach of your covenants set forth herein.

Duration and Termination of this Agreement. This Agreement shall remain in force until March 1September 30, 19982002, and continue in force from year to year thereafter, but only so long as such continuance is specifically approved at least annually (a) by the vote of a majority of the Trustees Directors who are not parties to this Agreement or interested persons of any party to this Agreement, cast in person at a meeting called for the purpose of voting on such approval, and (b) by the Trustees Directors of the TrustCorporation, or by the vote of a majority of the outstanding voting securities of the Fund. The aforesaid requirement that continuance of this Agreement be "specifically approved at least annually" shall be construed in a manner consistent with the 1940 Act and the rules and regulations thereunder and any applicable SEC exemptive order therefrom. This Agreement may be terminated with respect to the Fund at any time, without the payment of any penalty, by the vote of a majority of the outstanding voting securities of the Fund or by the TrustCorporation's Board of Trustees Directors on 60 days' written notice to you, or by you on 60 days' written notice to the TrustCorporation. This Agreement shall terminate automatically in the event of its assignment. This Agreement may be terminated with respect to the Fund at any time without the payment of any penalty by the Board of Trustees Directors or by vote of a majority of the outstanding voting securities of the Fund in the event that it shall have been established by a court of competent jurisdiction that you or any of your officers or directors has taken any action which results in a breach of your covenants set forth herein.

Duration and Termination of this Agreement. This Agreement shall remain in force until March 1September 30, 19982001, and continue in force from year to year thereafter, but only so long as such continuance is specifically approved at least annually (a) by the vote of a majority of the Trustees who are not parties to this Agreement or interested persons of any party to this Agreement, cast in person at a meeting called for the purpose of voting on such approval, and (b) by the Trustees of the Trust, or by the vote of a majority of the outstanding voting securities of the Fund. The aforesaid requirement that continuance of this Agreement be "specifically approved at least annually" shall be construed in a manner consistent with the 1940 Act and the rules and regulations thereunder and any applicable SEC exemptive order therefrom. This Agreement may be terminated with respect to the Fund at any time, without the payment of any penalty, by the vote of a majority of the outstanding voting securities of the Fund or by the Trust's Board of Trustees on 60 days' written notice to you, or by you on 60 days' written notice to the Trust. This Agreement shall terminate automatically in the event of its assignment. This Agreement may be terminated with respect to the Fund at any time without the payment of any penalty by the Board of Trustees or by vote of a majority of the outstanding voting securities of the Fund in the event that it shall have been established by a court of competent jurisdiction that you or any of your officers or directors has taken any action which results in a breach of your covenants set forth herein.

Duration and Termination of this Agreement. This Agreement shall remain in force until March 1September 30, 19982004, and continue in force from year to year thereafter, but only so long as such continuance is specifically approved at least annually (a) by the vote of a majority of the Trustees who are not parties to this Agreement or interested persons of any party to this Agreement, cast in person at a meeting called for the purpose of voting on such approval, and (b) by the Trustees of the Trust, or by the vote of a majority of the outstanding voting securities of the Fund. The aforesaid requirement that continuance of this Agreement be "specifically approved at least annually" shall be construed in a manner consistent with the 1940 Act and the rules and regulations thereunder and any applicable SEC exemptive order therefrom. This Agreement may be terminated with respect to the Fund at any time, without the payment of any penalty, by the vote of a majority of the outstanding voting securities of the Fund or by the Trust's Board of Trustees on 60 days' written notice to you, or by you on 60 days' written notice to the Trust. This Agreement shall terminate automatically in the event of its assignment. This Agreement may be terminated with respect to the Fund at any time without the payment of any penalty by the Board of Trustees or by vote of a majority of the outstanding voting securities of the Fund in the event that it shall have been established by a court of competent jurisdiction that you or any of your officers or directors has taken any action which results in a breach of your covenants set forth herein.

Duration and Termination of this Agreement. This Agreement shall remain in force until March 117, 1998, 1997 and continue in force from year to year thereafter, but only so long as such continuance, and the continuance of the Adviser as investment adviser of the Fund, is specifically approved at least annually (a) by the vote of a majority of the Trustees who are not parties to this Agreement or interested persons of any party to this Agreementyou or the Adviser or the Trust, cast in person at a meeting called for the purpose of voting on such approval, approval and (b) by the Trustees a vote of the Trust, Board of Trustees or by the vote of a majority of the outstanding voting securities of the Fund. The aforesaid requirement that continuance of this Agreement be "specifically approved at least annually" shall be construed in a manner consistent with the 1940 Investment Company Act and the rules and regulations thereunder and any applicable SEC exemptive order therefromthereunder. This Agreement may be terminated with respect to the Fund at any timemay, without the payment of any penalty, by the vote of a majority of the outstanding voting securities of the Fund or by the Trust's Board of Trustees on 60 days' written notice to younotice, or by you on 60 days' written notice to the Trust. This Agreement shall terminate automatically in the event of its assignment. This Agreement may be terminated with respect to the Fund at any time without penalties charged to the payment of any penalty Fund, by the Board of Trustees or Trustees, by vote of a majority of the outstanding voting securities of the Fund Fund, by the Adviser, or by you. This Agreement will terminate immediately upon the assignment of the investment advisory agreement between the Adviser and the Trust, on behalf of the Fund. In interpreting the provisions of this Agreement, the definitions contained in Sections 2(a) of the event that it Investment Company Act (particularly the definitions of "interested person", "assignment" and "majority of the outstanding voting securities"), as from time to time amended, shall have been established be applied, subject, however, to such exemptions as may be granted by a court of competent jurisdiction that you the Securities and Exchange Commission by any rule, regulations or any of your officers or directors has taken any action which results in a breach of your covenants set forth hereinorder.

Duration and Termination of this Agreement. This Agreement shall remain in force until March 1September 30, 19982007, and continue in force from year to year thereafter, but only so long as such continuance is specifically approved at least annually (a) by the vote of a majority of the Trustees who are not parties to this Agreement or interested persons of any party to this Agreement, cast in person at a meeting called for the purpose of voting on such approval, and (b) by the Trustees of the Trust, or by the vote of a majority of the outstanding voting securities of the such Fund. The aforesaid requirement that continuance of this Agreement be "“specifically approved at least annually" ” shall be construed in a manner consistent with the 1940 Act and the rules and regulations thereunder and any applicable SEC exemptive order therefrom. This Agreement may be terminated with respect to the a Fund at any time, without the payment of any penalty, by the vote of a majority of the outstanding voting securities of the such Fund or by the Trust's ’s Board of Trustees on 60 days' ’ written notice to you, or by you on 60 days' ’ written notice to the Trust. This Agreement shall terminate automatically in the event of its assignment. This Agreement may be terminated with respect to the a Fund at any time without the payment of any penalty by the Board of Trustees or by vote of a majority of the outstanding voting securities of the Fund in the event that it shall have been established by a court of competent jurisdiction that you or any of your officers or directors has taken any action which results in a breach of your covenants set forth herein.

Duration and Termination of this Agreement. This Agreement shall remain in force until March 1September 30, 19982006, and continue in force from year to year thereafter, but only so long as such continuance is specifically approved at least annually (a) by the vote of a majority of the Trustees who are not parties to this Agreement or interested persons of any party to this Agreement, cast in person at a meeting called for the purpose of voting on such approval, and (b) by the Trustees of the Trust, or by the vote of a majority of the outstanding voting securities of the Fund. The aforesaid requirement that continuance of this Agreement be "specifically approved at least annually" shall be construed in a manner consistent with the 1940 Act and the rules and regulations thereunder and any applicable SEC exemptive order therefrom. This Agreement may be terminated with respect to the Fund at any time, without the payment of any penalty, by the vote of a majority of the outstanding voting securities of the Fund or by the Trust's Board of Trustees on 60 days' written notice to you, or by you on 60 days' written notice to the Trust. This Agreement shall terminate automatically in the event of its assignment. This Agreement may be terminated with respect to the Fund at any time without the payment of any penalty by the Board of Trustees or by vote of a majority of the outstanding voting securities of the Fund in the event that it shall have been established by a court of competent jurisdiction that you or any of your officers or directors has taken any action which results in a breach of your covenants set forth herein.

Duration and Termination of this Agreement. This Agreement shall remain in ------------------------------------------ force as to each Fund until March 1June 30, 1998, 1999 and shall continue in force from year to for periods of one year thereafter, but only so long as such continuance is specifically approved at least annually (a) by the vote of a majority of the Trustees who are not parties to this Agreement or interested persons (as defined in the 0000 Xxx) of any party to the Registrant and have no financial interest in this Agreement, cast in person at a meeting called for the purpose of voting on such approval, approval and (b) by a vote of a majority of the Trustees of the Trust, Registrant or by the vote of a majority of the outstanding voting securities of the such Fund. The aforesaid requirement that continuance of this Agreement be "specifically approved at least annually" shall be construed in a manner consistent with the 1940 Act and the rules and regulations thereunder and any applicable SEC exemptive order therefromthereunder. This Agreement may may, on 60 days written notice to the other party, be terminated with respect in its entirety or as to the a particular Fund at any time, time without the payment of any penalty, by the vote of a majority Trustees of the outstanding voting securities of the Fund or by the Trust's Board of Trustees on 60 days' written notice to youRegistrant, or by you on 60 days' written notice to the Trust. This Agreement shall terminate automatically in the event of its assignment. This Agreement may be terminated with respect to the Fund at any time without the payment of any penalty by the Board of Trustees or by vote of a majority of the outstanding voting securities of the Fund a Fund, or by you. This Agreement shall automatically terminate in the event that it of its assignment. In interpreting the provisions of this Agreement, the definitions contained in Section 2(a) of the 1940 Act (particularly the definitions of "interested person," "assignment" and "majority of the outstanding voting securities"), as from time to time amended, shall have been established be applied, subject, however, to such exemptions as may be granted by a court of competent jurisdiction that you the Securities and Exchange Commission by any rule, regulation or any of your officers or directors has taken any action which results in a breach of your covenants set forth hereinorder.

Duration and Termination of this Agreement. This Agreement shall remain in force until March 1September 30, 19982003, and continue in force from year to year thereafter, but only so long as such continuance is specifically approved at least annually (a) by the vote of a majority of the Trustees who are not parties to this Agreement or interested persons of any party to this Agreement, cast in person at a meeting called for the purpose of voting on such approval, and (b) by the Trustees of the Trust, or by the vote of a majority of the outstanding voting securities of the Fund. The aforesaid requirement that continuance of this Agreement be "specifically approved at least annually" shall be construed in a manner consistent with the 1940 Act and the rules and regulations thereunder and any applicable SEC exemptive order therefrom. This Agreement may be terminated with respect to the Fund at any time, without the payment of any penalty, by the vote of a majority of the outstanding voting securities of the Fund or by the Trust's Board of Trustees on 60 days' written notice to you, or by you on 60 days' written notice to the Trust. This Agreement shall terminate automatically in the event of its assignment. This Agreement may be terminated with respect to the Fund at any time without the payment of any penalty by the Board of Trustees or by vote of a majority of the outstanding voting securities of the Fund in the event that it shall have been established by a court of competent jurisdiction that you or any of your officers or directors has taken any action which results in a breach of your covenants set forth herein.

Duration and Termination of this Agreement. This Agreement shall remain in force until March April 1, 1998, and continue in force from year to year thereafter, but only so long as such continuance is specifically approved at least annually (a) by the vote of a majority of the Trustees Directors who are not parties to this Agreement or interested persons of any party to this Agreement, cast in person at a meeting called for the purpose of voting on such approval, and (b) by the Trustees Directors of the TrustFund, or by the vote of a majority of the outstanding voting securities of the Fund. The aforesaid requirement that continuance of this Agreement be "specifically approved at least annually" shall be construed in a manner consistent with the 1940 Act and the rules and regulations thereunder and any applicable SEC exemptive order therefrom. This Agreement may be terminated with respect to the Fund at any time, without the payment of any penalty, by the vote of a majority of the outstanding voting securities of the Fund or by the TrustFund's Board of Trustees Directors on 60 days' written notice to you, or by you on 60 days' written notice to the TrustFund. This Agreement shall terminate automatically in the event of its assignment. This Agreement may be terminated with respect to the Fund at any time without the payment of any penalty by the Board of Trustees Directors or by vote of a majority of the outstanding voting securities of the Fund in the event that it shall have been established by a court of competent jurisdiction that you or any of your officers or directors has taken any action which results in a breach of your covenants set forth herein.

Duration and Termination of this Agreement. This Agreement ------------------------------------------ shall remain in force until March 1June 30, 1998, 1993 and shall continue in force from year to for periods of one year thereafter, but only so long as such continuance is specifically approved at least annually (a) by the vote of a majority of the Trustees Directors who are not parties to this Agreement or interested persons (as defined in the 0000 Xxx) of any party to the Company and have no financial interest in this Agreement, cast in person at a meeting called for the purpose of voting on such approval, approval and (b) by the Trustees a vote of a majority of the Trust, Board of Directors of the Company or by the vote of a majority of the outstanding voting securities of the Fund. The aforesaid requirement that continuance of this Agreement be "specifically approved at least annually" shall be construed in a manner consistent with the 1940 Act and the rules and regulations thereunder and any applicable SEC exemptive order therefromthereunder. This Agreement may may, on 60 days' written notice to the other party, be terminated with respect to the Fund at any time, time without the payment of any penalty, by the vote Board of a majority Directors of the outstanding voting securities of the Fund or by the Trust's Board of Trustees on 60 days' written notice to youCompany, or by you on 60 days' written notice to the Trust. This Agreement shall terminate automatically in the event of its assignment. This Agreement may be terminated with respect to the Fund at any time without the payment of any penalty by the Board of Trustees or by vote of a majority of the outstanding voting securities of the Fund Fund, or by you. This Agreement shall automatically terminate in the event that it of its assignment. In interpreting the provisions of this Agreement, the definitions contained in Section 2(a) of the 1940 Act (particularly the definitions of "interested person," "assignment" and "majority of the outstanding voting securities"), as from time to time amended, shall have been established be applied, subject, however, to such exemptions as may be granted by a court of competent jurisdiction that you the Securities and Exchange Commission by any rule, regulation or any of your officers or directors has taken any action which results in a breach of your covenants set forth hereinorder.

Duration and Termination of this Agreement. This Agreement shall remain in force until March 1, 19981999, and continue in force from year to year thereafter, but only so long as such continuance is specifically approved at least annually (a) by the vote of a majority of the Trustees who are not parties to this Agreement or interested persons of any party to this Agreement, cast in person at a meeting called for the purpose of voting on such approval, and (b) by the Trustees of the Trust, or by the vote of a majority of the outstanding voting securities of the Fund. The aforesaid requirement that continuance of this Agreement be "specifically approved at least annually" shall be construed in a manner consistent with the 1940 Act and the rules and regulations thereunder and any applicable SEC exemptive order therefrom. This Agreement may be terminated with respect to the Fund at any time, without the payment of any penalty, by the vote of a majority of the outstanding voting securities of the Fund or by the Trust's Board of Trustees on 60 days' written notice to you, or by you on 60 days' written notice to the Trust. This Agreement shall terminate automatically in the event of its assignment. This Agreement may be terminated with respect to the Fund at any time without the payment of any penalty by the Board of Trustees or by vote of a majority of the outstanding voting securities of the Fund in the event that it shall have been established by a court of competent jurisdiction that you or any of your officers or directors has taken any action which results in a breach of your covenants set forth herein.

Duration and Termination of this Agreement. (a) This Agreement shall remain in force not become effective with respect to a Fund unless and until March 1, 1998, and continue in force from year to year thereafter, but only so long as such continuance it is specifically approved at least annually (a) by the vote of Board, including a majority of the Trustees trustees who are not parties to this Agreement or interested persons of any party such party, and by the vote of a majority of the outstanding voting shares of such Fund. This Agreement shall come into full force and effect on the date above first written, subject to its prior approval by the Board and Fund shareholders (as required under the 1940 Act), provided that it shall not become effective as to any subsequently created Fund until it has been approved by the Board specifically for such Fund. As to each Fund, the Agreement shall continue in effect for two years from the date on which it becomes effective and shall thereafter continue in effect from year to year so long as such continuance is specifically approved for such Fund at least annually by: (i) the Board, or by the vote of a majority of the outstanding voting shares of such Fund; and (ii) a majority of those trustees who are not parties to this AgreementAgreement or interested persons of any such party, cast in person at a meeting called for the purpose of voting on such approval, and . (b) by the Trustees of the Trust, or by the vote of a majority of the outstanding voting securities of the Fund. The aforesaid requirement that continuance of this Agreement be "specifically approved at least annually" shall be construed in a manner consistent with the 1940 Act and the rules and regulations thereunder and any applicable SEC exemptive order therefrom. This Agreement may be terminated with respect to the Fund at any timetime as to any Fund or to all Funds, without the payment of any penalty, by the vote of a majority of the outstanding voting securities of the Fund or by the Trust's Board of Trustees on 60 days' written notice to you, or by you on 60 days' written notice to the Trust. This Agreement shall terminate automatically in the event of its assignment. This Agreement may be terminated with respect to the Fund at any time without the payment of any penalty by the Board of Trustees or by vote of a majority of the outstanding voting securities shares of the Fund applicable Fund, or by Advisor, on 60 days’ written notice to the other party. If this Agreement is terminated only with respect to one or more, but less than all, of the Funds, or if a different investment adviser is appointed with respect to a new Fund, the Agreement shall remain in effect with respect to the remaining Fund(s). (c) This Agreement shall automatically terminate in the event that it of its assignment. (d) Upon termination of this Agreement, the Trust shall no longer have been established by a court the right to utilize the words “TIAA-CREF” within its name and the Funds’ names, and shall not hold itself out as or market itself as being related to the TIAA-CREF group of competent jurisdiction that you or any companies, except with the written permission of your officers or directors has taken any action which results in a breach of your covenants set forth hereinthe Advisor.

Duration and Termination of this Agreement. This Agreement shall remain in force until March 1, 1998, for an initial term of two years and continue in force from year to year thereafter, but only so long as such continuance is specifically approved at least annually (a) by the vote of a majority of the Trustees of UFT who are not parties to this Agreement or interested persons of any party to this Agreementthe Adviser or of HTA, cast in person at a meeting called for the purpose of voting on such approval, approval and (b) by a vote of the majority of the Board of Trustees of the Trust, UFT or by the vote of a majority of the outstanding voting securities of the FundPortfolio. The aforesaid requirement that continuance of this Agreement be "specifically approved at least annually" annually shall be construed in a manner consistent with the 1940 Act and the rules and regulations thereunder and any applicable SEC exemptive order therefromthereunder. This Agreement may may, on sixty (60) days, written notice, be terminated with respect to the Fund at any time, time without the payment of any penalty, by the vote Board of a majority Directors of HTA, the outstanding voting securities Board of the Fund Trustees of UFT or by the Trust's Board of Trustees on 60 days' written notice to you, or by you on 60 days' written notice to the TrustAdviser. This Agreement shall automatically terminate automatically in the event of its assignment. This Agreement may be terminated with respect to In interpreting the Fund at any time without provisions of this Agreement, the payment definitions contained in Section 2(a) of any penalty by the Board 1940 Act (particularly the definitions of Trustees or by vote of a "interested person", "assignment" and "majority of the outstanding voting securities of securities"), as from time to time amended, shall be applied, subject, however, to such exemptions, as may be granted by the Fund in the event that it shall have been established Securities and Exchange Commission by a court of competent jurisdiction that you any rule, regulation or any of your officers or directors has taken any action which results in a breach of your covenants set forth hereinorder.

Duration and Termination of this Agreement. This Agreement shall remain in force until March 1September 30, 19982018, and continue in force from year to year thereafter, but only so long as such continuance is specifically approved at least annually (a) by the vote of a majority of the Trustees who are not parties to this Agreement or interested persons of any party to this Agreement, cast in person at a meeting called for the purpose of voting on such approval, and (b) by the Trustees of the Trust, or by the vote of a majority of the outstanding voting securities of the Fund. The aforesaid requirement that continuance of this Agreement be "“specifically approved at least annually" ” shall be construed in a manner consistent with the 1940 Act and the rules and regulations thereunder and any applicable SEC exemptive order therefrom. This Agreement may be terminated with respect to the Fund at any time, without the payment of any penalty, by the vote of a majority of the outstanding voting securities of the Fund or by the Trust's ’s Board of Trustees on 60 days' ’ written notice to you, or by you on 60 days' ’ written notice to the Trust. This Agreement shall terminate automatically in the event of its assignment. This Agreement may be terminated with respect to the Fund at any time without the payment of any penalty by the Board of Trustees or by vote of a majority of the outstanding voting securities of the Fund in the event that it shall have been established by a court of competent jurisdiction that you or any of your officers or directors has taken any action which results in a breach of your covenants set forth herein.

Duration and Termination of this Agreement. This Agreement shall remain in force until March 1September 30, 19982002, and continue in force from year to year thereafter, but only so long as such continuance is specifically approved at least annually (a) by the vote of a majority of the Trustees who are not parties to this Agreement or interested persons of any party to this Agreement, cast in person at a meeting called for the purpose of voting on such approval, and (b) by the Trustees of the TrustFund, or by the vote of a majority of the outstanding voting securities of the Fund. The aforesaid requirement that continuance of this Agreement be "specifically approved at least annually" shall be construed in a manner consistent with the 1940 Act and the rules and regulations thereunder and any applicable SEC exemptive order therefrom. This Agreement may be terminated with respect to the Fund at any time, without the payment of any penalty, by the vote of a majority of the outstanding voting securities of the Fund or by the TrustFund's Board of Trustees on 60 days' written notice to you, or by you on 60 days' written notice to the TrustFund. This Agreement shall terminate automatically in the event of its assignment. This Agreement may be terminated with respect to the Fund at any time without the payment of any penalty by the Board of Trustees or by vote of a majority of the outstanding voting securities of the Fund in the event that it shall have been established by a court of competent jurisdiction that you or any of your officers or directors has taken any action which results in a breach of your covenants set forth herein.

Duration and Termination of this Agreement. This Agreement shall become effective upon the date first written above and will remain in force until March 1, 1998, effect for a period of two years from the date hereof and continue in force from year to year thereafter, but only so long as such continuance is specifically approved at least annually (a) by the vote of a majority of the Trustees who are not parties to this Agreement or interested persons of any party to this Agreementyou or of the Trust, cast in person at a meeting called for the purpose of voting on such approval, approval and (b) by the Trustees a vote of the Trust, Board of Trustees or by the vote of a majority of the outstanding voting securities of the FundTrust. The aforesaid requirement that continuance of this Agreement be "“specifically approved at least annually" ” shall be construed in a manner consistent with the Investment Company Act of 1940 Act and the rules and regulations thereunder and any applicable SEC exemptive order therefromthereunder. This Agreement may be terminated with respect to the Fund at any time, without the payment of any penalty, by the vote of a majority of the outstanding voting securities of the Fund or by the Trust's The Board of Trustees may on 60 days' days written notice to younotice, or by you on 60 days' written notice to the Trust. This terminate this Agreement shall terminate automatically in the event of its assignment. This Agreement may be terminated with respect to the Fund at any time without the payment of any penalty by the Board of Trustees or penalty, by vote of a majority of the outstanding voting securities of the Fund Trust, or by you. This Agreement shall automatically terminate in the event that it of its assignment. In interpreting the provisions of this Agreement, the definitions contained in Section 2(a) of the Investment Company Act of 1940 (particularly the definitions of “interested person,” “assignment” and “majority of the outstanding voting securities”), as from time to time amended, shall have been established be applied, subject, however, to such exemptions as may be granted by a court of competent jurisdiction that you the Securities and Exchange Commission by any rule, regulation or any of your officers or directors has taken any action which results in a breach of your covenants set forth hereinorder.

Duration and Termination of this Agreement. a. This Agreement shall become effective upon the date of its execution, subject to the condition that the Trust's Board, including a majority of those Trustees who are not interested persons (as such term is defined in the 0000 Xxx) of the Adviser or the Sub-Adviser, and the Holders of Interests in the Trust, shall have approved this Agreement in the manner required by the 1940 Act. Unless terminated as herein provided, this Agreement shall remain in full force until March 1, 1998, and effect for one-year from the effective date and shall continue in full force from year to year and effect indefinitely thereafter, but only so long as such continuance is specifically approved at least annually (ai) by the Board of Trustees of the Trust or by vote of a majority of the outstanding voting securities of the Trust and (ii) by the vote of a majority of those Trustees of the Trustees Trust who are not parties to this Agreement or interested persons of any party to this Agreement, the Adviser or the Sub-Adviser (the "Independent Trustees") cast in person at a meeting called for the purpose of voting on such approval. b. Notwithstanding the foregoing, (i) the Sub-Adviser may at any time on sixty (60) days' prior written notice to the Adviser terminate its obligations hereunder without the payment of any penalty; (ii) the Adviser may at any time on sixty (60) days' notice to the Sub-Adviser terminate this Agreement without the payment of any penalty, and (biii) this Agreement may be terminated by the Trustees of the Trust, or by the vote of a majority of the outstanding voting securities of the Fund. The aforesaid requirement that continuance of this Agreement be "specifically approved at least annually" shall be construed in a manner consistent with the 1940 Act and the rules and regulations thereunder and any applicable SEC exemptive order therefrom. This Agreement may be terminated with respect to the Fund at any time, without the payment of any penalty, by the vote of a majority of the outstanding voting securities of the Fund or by the Trust's Board of Trustees on 60 days' written notice to you, or by you on 60 days' written notice to the Trust. This Agreement shall terminate automatically in the event of its assignment. This Agreement may be terminated with respect to the Fund at any time without the payment of any penalty by the Board of Trustees assignment or by vote of a majority of the outstanding voting securities of the Fund in the event that it the Advisory Agreement shall have been established by a court of competent jurisdiction that you or terminated for any of your officers or directors has taken any action which results in a breach of your covenants set forth hereinreason.

Duration and Termination of this Agreement. This Agreement shall ------------------------------------------ remain in force until March 1June 30, 1998, 1998 and shall continue in force from year to for periods of one year thereafter, but only so long as such continuance is specifically approved at least annually (a) by the vote of a majority of the Trustees who are not parties to this Agreement or interested persons (as defined in the 0000 Xxx) of any party to the Registrant and have no financial interest in this Agreement, cast in person at a meeting called for the purpose of voting on such approval, approval and (b) by a vote of a majority of the Trustees of the Trust, or by the vote of a majority of the outstanding voting securities of the Fund. The aforesaid requirement that continuance of this Agreement be "specifically approved at least annually" shall be construed in a manner consistent with the 1940 Act and the rules and regulations thereunder and any applicable SEC exemptive order therefromthereunder. This Agreement may may, on 60 days' written notice to the other party, be terminated with respect to the Fund at any time, time without the payment of any penalty, by the vote of a majority Trustees of the outstanding voting securities of the Fund or by the Trust's Board of Trustees on 60 days' written notice to youRegistrant, or by you on 60 days' written notice to the Trust. This Agreement shall terminate automatically in the event of its assignment. This Agreement may be terminated with respect to the Fund at any time without the payment of any penalty by the Board of Trustees or by vote of a majority of the outstanding voting securities of the Fund Fund, or by you. This Agreement shall automatically terminate in the event that it of its assignment. In interpreting the provisions of this Agreement, the definitions contained in Section 2(a) of the 1940 Act (particularly the definitions of "interested person," "assignment" and "majority of the outstanding voting securities"), as from time to time amended, shall have been established be applied, subject, however, to such exemptions as may be granted by a court of competent jurisdiction that you the Securities and Exchange Commission by any rule, regulation or any of your officers or directors has taken any action which results in a breach of your covenants set forth hereinorder.

Duration and Termination of this Agreement. a. This Agreement shall become effective upon the date of its execution, subject to the condition that the Trust’s Board, including a majority of those Trustees who are not interested persons (as such term is defined in the 0000 Xxx) of the Adviser or the Sub-Adviser, and the Holders of Interests in the Trust, shall have approved this Agreement in the manner required by the 1940 Act. Unless terminated as herein provided, this Agreement shall remain in full force until March 1, 1998, and effect for one-year from the effective date and shall continue in full force from year to year and effect indefinitely thereafter, but only so long as such continuance is specifically approved at least annually (ai) by the Board of Trustees of the Trust or by vote of a majority of the outstanding voting securities of the Trust and (ii) by the vote of a majority of those Trustees of the Trustees Trust who are not parties to this Agreement or interested persons of any party to this Agreement, the Adviser or the Sub-Adviser (the “Independent Trustees”) cast in person at a meeting called for the purpose of voting on such approval. b. Notwithstanding the foregoing, (i) the Sub-Adviser may at any time on sixty (60) days' prior written notice to the Adviser terminate its obligations hereunder without the payment of any penalty; (ii) the Adviser may at any time on sixty (60) days' notice to the Sub-Adviser terminate this Agreement without the payment of any penalty, and (biii) this Agreement may be terminated by the Trustees of the Trust, or by the vote of a majority of the outstanding voting securities of the Fund. The aforesaid requirement that continuance of this Agreement be "specifically approved at least annually" shall be construed in a manner consistent with the 1940 Act and the rules and regulations thereunder and any applicable SEC exemptive order therefrom. This Agreement may be terminated with respect to the Fund at any time, without the payment of any penalty, by the vote of a majority of the outstanding voting securities of the Fund or by the Trust's Board of Trustees on 60 days' written notice to you, or by you on 60 days' written notice to the Trust. This Agreement shall terminate automatically in the event of its assignment. This Agreement may be terminated with respect to the Fund at any time without the payment of any penalty by the Board of Trustees assignment or by vote of a majority of the outstanding voting securities of the Fund in the event that it the Advisory Agreement shall have been established by a court of competent jurisdiction that you or terminated for any of your officers or directors has taken any action which results in a breach of your covenants set forth hereinreason.

Duration and Termination of this Agreement. This Agreement shall ------------------------------------------ remain in force until March 1June 30, 1998, 1994 and shall continue in force from year to for periods of one year thereafter, but only so long as such continuance is specifically approved at least annually (a) by the vote of a majority of the Trustees who are not parties to this Agreement or interested persons (as defined in the 0000 Xxx) of any party to the Trust and have no financial interest in this Agreement, cast in person at a meeting called for the purpose of voting on such approval, approval and (b) by the Trustees a vote of a majority of the Trust, Board of Trustees or by the vote of a majority of the outstanding voting securities of the Fund. The aforesaid requirement that continuance of this Agreement be "specifically approved at least annually" shall be construed in a manner consistent with the 1940 Act and the rules and regulations thereunder and any applicable SEC exemptive order therefromthereunder. This Agreement may may, on 60 days' written notice to the other party, be terminated with respect to the Fund at any time, time without the payment of any penalty, by the vote of a majority of the outstanding voting securities of the Fund or by the Trust's Board of Trustees on 60 days' written notice to you, or by you on 60 days' written notice to of the Trust. This Agreement shall terminate automatically in the event of its assignment. This Agreement may be terminated with respect to the Fund at any time without the payment of any penalty by the Board of Trustees or , by vote of a majority of the outstanding voting securities of the Fund Fund, or by you. This Agreement shall automatically terminate in the event that it of its assignment. In interpreting the provisions of this Agreement, the definitions contained in Section 2(a) of the 1940 Act (particularly the definitions of "interested person," "assignment" and "majority of the outstanding voting securities"), as from time to time amended, shall have been established be applied, subject, however, to such exemptions as may be granted by a court of competent jurisdiction that you the Securities and Exchange Commission by any rule, regulation or any of your officers or directors has taken any action which results in a breach of your covenants set forth hereinorder.

Duration and Termination of this Agreement. This Agreement ------------------------------------------ shall remain in force until March 1June 30, 1998, 1994 and shall continue in force from year to for periods of one year thereafter, but only so long as such continuance, and the continuance of the Adviser as investment adviser of the Fund, is specifically approved at least annually (a) by the vote of a majority of the Trustees Directors who are not parties to this Agreement or interested persons (as defined in the 0000 Xxx) of any party to the Company or the Adviser and have no financial interest in this Agreement, cast in person at a meeting called for the purpose of voting on such approval, approval and (b) by the Trustees a vote of a majority of the Trust, Board of Directors or by the vote of a majority of the outstanding voting securities of the Fund. The aforesaid requirement that continuance of this Agreement be "specifically approved at least annually" shall be construed in a manner consistent with the 1940 Act and the rules and regulations thereunder and any applicable SEC exemptive order therefromthereunder. This Agreement may may, on 60 days' written notice to the other party, be terminated with respect to the Fund at any time, time without the payment of any penalty, by the vote Board of a majority Directors of the outstanding voting securities of the Fund or by the Trust's Board of Trustees on 60 days' written notice to youCompany, or by you on 60 days' written notice to the Trust. This Agreement shall terminate automatically in the event of its assignment. This Agreement may be terminated with respect to the Fund at any time without the payment of any penalty by the Board of Trustees or by vote of a majority of the outstanding voting securities of the Fund Fund, by the Adviser, or by you. This Agreement shall automatically terminate in the event that it of its assignment. In interpreting the provisions of this Agreement, the definitions contained in Section 2(a) of the 1940 Act (particularly the definitions of "interested person," "assignment" and "majority of the outstanding voting securities"), as from time to time amended, shall have been established be applied, subject, however, to such exemptions as may be granted by a court of competent jurisdiction that you the Securities and Exchange Commission by any rule, regulation or any of your officers or directors has taken any action which results in a breach of your covenants set forth hereinorder.

Duration and Termination of this Agreement. This Agreement shall remain in force until March 1September 30, 19982006, and continue in force from year to year thereafter, thereafter with respect to each Fund but only so long as such continuance is specifically approved for each Fund at least annually (a) by the vote of a majority of the Trustees who are not parties to this Agreement or interested persons of any party to this Agreement, cast in person at a meeting called for the purpose of voting on such approval, and (b) by the Trustees of the Trust, or by the vote of a majority of the outstanding voting securities of the such Fund. The aforesaid requirement that continuance of this Agreement be "specifically approved at least annually" shall be construed in a manner consistent with the 1940 Act and the rules and regulations thereunder and any applicable SEC exemptive order therefrom. This Agreement may be terminated with respect to the a Fund at any time, without the payment of any penalty, by the vote of a majority of the outstanding voting securities of the such Fund or by the Trust's Board of Trustees on 60 days' written notice to you, or by you on 60 days' written notice to the Trust. This Agreement shall terminate automatically in the event of its assignment. This Agreement may be terminated with respect to the a Fund at any time without the payment of any penalty by the Board of Trustees or by vote of a majority of the outstanding voting securities of the Fund in the event that it shall have been established by a court of competent jurisdiction that you or any of your officers or directors has taken any action which results in a breach of your covenants set forth herein.

Duration and Termination of this Agreement. This Agreement shall remain in force until March 1September 30, 19982005, and continue in force from year to year thereafter, but only so long as such continuance is specifically approved at least annually (a) by the vote of a majority of the Trustees who are not parties to this Agreement or interested persons of any party to this Agreement, cast in person at a meeting called for the purpose of voting on such approval, and (b) by the Trustees of the Trust, or by the vote of a majority of the outstanding voting securities of the Fund. The aforesaid requirement that continuance of this Agreement be "“specifically approved at least annually" ” shall be construed in a manner consistent with the 1940 Act and the rules and regulations thereunder and any applicable SEC exemptive order therefrom. This Agreement may be terminated with respect to the Fund at any time, without the payment of any penalty, by the vote of a majority of the outstanding voting securities of the Fund or by the Trust's ’s Board of Trustees on 60 days' ’ written notice to you, or by you on 60 days' ’ written notice to the Trust. This Agreement shall terminate automatically in the event of its assignment. This Agreement may be terminated with respect to the Fund at any time without the payment of any penalty by the Board of Trustees or by vote of a majority of the outstanding voting securities of the Fund in the event that it shall have been established by a court of competent jurisdiction that you or any of your officers or directors has taken any action which results in a breach of your covenants set forth herein.

Duration and Termination of this Agreement. This Agreement shall remain in force until March 1September 30, 19982000, and continue in force from year to year thereafter, but only so long as such continuance is specifically approved at least annually (a) by the vote of a majority of the Trustees who are not parties to this Agreement or interested persons of any party to this Agreement, cast in person at a meeting called for the purpose of voting on such approval, and (b) by the Trustees of the TrustFund, or by the vote of a majority of the outstanding voting securities of the Fund. The aforesaid requirement that continuance of this Agreement be "specifically approved at least annually" shall be construed in a manner consistent with the 1940 Act and the rules and regulations thereunder and any applicable SEC exemptive order therefrom. This Agreement may be terminated with respect to the Fund at any time, without the payment of any penalty, by the vote of a majority of the outstanding voting securities of the Fund or by the TrustFund's Board of Trustees on 60 days' written notice to you, or by you on 60 days' written notice to the TrustFund. This Agreement shall terminate automatically in the event of its assignment. This Agreement may be terminated with respect to the Fund at any time without the payment of any penalty by the Board of Trustees or by vote of a majority of the outstanding voting securities of the Fund in the event that it shall have been established by a court of competent jurisdiction that you or any of your officers or directors has taken any action which results in a breach of your covenants set forth herein.

Duration and Termination of this Agreement. This Agreement shall remain in force until March 1September 30, 19982007, and continue in force from year to year thereafter, but only so long as such continuance is specifically approved at least annually (a) by the vote of a majority of the Trustees who are not parties to this Agreement or interested persons of any party to this Agreement, cast in person at a meeting called for the purpose of voting on such approval, and (b) by the Trustees of the Trust, or by the vote of a majority of the outstanding voting securities of the Fund. The aforesaid requirement that continuance of this Agreement be "specifically approved at least annually" shall be construed in a manner consistent with the 1940 Act and the rules and regulations thereunder and any applicable SEC exemptive order therefrom. This Agreement may be terminated with respect to the Fund at any time, without the payment of any penalty, by the vote of a majority of the outstanding voting securities of the Fund or by the Trust's Board of Trustees on 60 days' written notice to you, or by you on 60 days' written notice to the Trust. This Agreement shall terminate automatically in the event of its assignment. This Agreement may be terminated with respect to the Fund at any time without the payment of any penalty by the Board of Trustees or by vote of a majority of the outstanding voting securities of the Fund in the event that it shall have been established by a court of competent jurisdiction that you or any of your officers or directors has taken any action which results in a breach of your covenants set forth herein.

Duration and Termination of this Agreement. This Agreement shall remain in force until March 1September 30, 19982005, and continue in force from year to year thereafter, but only so long as such continuance is specifically approved at least annually (a) by the vote of a majority of the Trustees Directors who are not parties to this Agreement or interested persons of any party to this Agreement, cast in person at a meeting called for the purpose of voting on such approval, and (b) by the Trustees Directors of the TrustCorporation, or by the vote of a majority of the outstanding voting securities of the Fund. The aforesaid requirement that continuance of this Agreement be "specifically approved at least annually" shall be construed in a manner consistent with the 1940 Act and the rules and regulations thereunder and any applicable SEC exemptive order therefrom. This Agreement may be terminated with respect to the Fund at any time, without the payment of any penalty, by the vote of a majority of the outstanding voting securities of the Fund or by the TrustCorporation's Board of Trustees Directors on 60 days' written notice to you, or by you on 60 days' written notice to the TrustCorporation. This Agreement shall terminate automatically in the event of its assignment. This Agreement may be terminated with respect to the Fund at any time without the payment of any penalty by the Board of Trustees Directors or by vote of a majority of the outstanding voting securities of the Fund in the event that it shall have been established by a court of competent jurisdiction that you or any of your officers or directors has taken any action which results in a breach of your covenants set forth herein.

Duration and Termination of this Agreement. This Agreement shall remain in force until March 1September 30, 19982000, and continue in force from year to year thereafter, but only so long as such continuance is specifically approved at least annually (a) by the vote of a majority of the Trustees Directors who are not parties to this Agreement or interested persons of any party to this Agreement, cast in person at a meeting called for the purpose of voting on such approval, and (b) by the Trustees Directors of the TrustFund, or by the vote of a majority of the outstanding voting securities of the Fund. The aforesaid requirement that continuance of this Agreement be "specifically approved at least annually" shall be construed in a manner consistent with the 1940 Act and the rules and regulations thereunder and any applicable SEC exemptive order therefrom. This Agreement may be terminated with respect to the Fund at any time, without the payment of any penalty, by the vote of a majority of the outstanding voting securities of the Fund or by the TrustFund's Board of Trustees Directors on 60 days' written notice to you, or by you on 60 days' written notice to the TrustFund. This Agreement shall terminate automatically in the event of its assignment. This Agreement may be terminated with respect to the Fund at any time without the payment of any penalty by the Board of Trustees Directors or by vote of a majority of the outstanding voting securities of the Fund in the event that it shall have been established by a court of competent jurisdiction that you or any of your officers or directors has taken any action which results in a breach of your covenants set forth herein.

Duration and Termination of this Agreement. This Agreement shall remain in force until March 1, 1998, and continue in force from year to year thereafter, but only so long as such continuance is specifically approved at least annually (a) by the vote of a majority of the Trustees who are not parties to this Agreement or interested persons of any party to this Agreement, cast in person at a meeting called for the purpose of voting on such approval, and (b) by the Trustees of the Trust, or by the 8 vote of a majority of the outstanding voting securities of the Fund. The aforesaid requirement that continuance of this Agreement be "specifically approved at least annually" shall be construed in a manner consistent with the 1940 Act and the rules and regulations thereunder and any applicable SEC exemptive order therefrom. This Agreement may be terminated with respect to the Fund at any time, without the payment of any penalty, by the vote of a majority of the outstanding voting securities of the Fund or by the Trust's Board of Trustees on 60 days' written notice to you, or by you on 60 days' written days'written notice to the Trust. This Agreement shall terminate automatically in the event of its assignment. This Agreement may be terminated with respect to the Fund at any time without the payment of any penalty by the Board of Trustees or by vote of a majority of the outstanding voting securities of the Fund in the event that it shall have been established by a court of competent jurisdiction that you or any of your officers or directors has taken any action which results in a breach of your covenants set forth herein.

Duration and Termination of this Agreement. This Agreement shall remain in ------------------------------------------ force until March 1June 30, 1998, 1992 and shall continue in force from year to for periods of one year thereafter, but only so long as such continuance is specifically approved at least annually (a) by the vote of a majority of the Trustees who are not parties to this Agreement or interested persons (as defined in the 0000 Xxx) of any party to the Trust and have no financial interest in this Agreement, cast in person at a meeting called for the purpose of voting on such approval, approval and (b) by the Trustees a vote of a majority of the Trust, Board of Trustees or by the vote of a majority of the outstanding voting securities of the Fund. The aforesaid requirement that continuance of this Agreement be "specifically approved at least annually" shall be construed in a manner consistent with the 1940 Act and the rules and regulations thereunder and any applicable SEC exemptive order therefromthereunder. This Agreement may may, on 60 days' written notice to the other party, be terminated with respect to the Fund at any time, time without the payment of any penalty, by the vote of a majority of the outstanding voting securities of the Fund or by the Trust's Board of Trustees on 60 days' written notice to you, or by you on 60 days' written notice to of the Trust. This Agreement shall terminate automatically in the event of its assignment. This Agreement may be terminated with respect to the Fund at any time without the payment of any penalty by the Board of Trustees or , by vote of a majority of the outstanding voting securities of the Fund Fund, or by you. This Agreement shall automatically terminate in the event that it of its assignment. In interpreting the provisions of this Agreement, the definitions contained in Section 2(a) of the 1940 Act (particularly the definitions of "interested person," "assignment" and "majority of the outstanding voting securities"), as from time to time amended, shall have been established be applied, subject, however, to such exemptions as may be granted by a court of competent jurisdiction that you the Securities and Exchange Commission by any rule, regulation or any of your officers or directors has taken any action which results in a breach of your covenants set forth hereinorder.

Duration and Termination of this Agreement. This Agreement shall remain in ------------------------------------------ force as to each Fund until March 1___________, 1998, 1999 and shall continue in force from year to for periods of one year thereafter, but only so long as such continuance is specifically approved at least annually (a) by the vote of a majority of the Trustees who are not parties to this Agreement or interested persons (as defined in the 0000 Xxx) of any party to the Registrant and have no financial interest in this Agreement, cast in person at a meeting called for the purpose of voting on such approval, approval and (b) by a vote of a majority of the Trustees of the Trust, Registrant or by the vote of a majority of the outstanding voting securities of the such Fund. The aforesaid requirement that continuance of this Agreement be "specifically approved at least annually" shall be construed in a manner consistent with the 1940 Act and the rules and regulations thereunder and any applicable SEC exemptive order therefromthereunder. This Agreement may may, on 60 days written notice to the other party, be terminated with respect in its entirety or as to the a particular Fund at any time, time without the payment of any penalty, by the vote of a majority Trustees of the outstanding voting securities of the Fund or by the Trust's Board of Trustees on 60 days' written notice to youRegistrant, or by you on 60 days' written notice to the Trust. This Agreement shall terminate automatically in the event of its assignment. This Agreement may be terminated with respect to the Fund at any time without the payment of any penalty by the Board of Trustees or by vote of a majority of the outstanding voting securities of the Fund a Fund, or by you. This Agreement shall automatically terminate in the event that it of its assignment. In interpreting the provisions of this Agreement, the definitions contained in Section 2(a) of the 1940 Act (particularly the definitions of "interested person," "assignment" and "majority of the outstanding voting securities"), as from time to time amended, shall have been established be applied, subject, however, to such exemptions as may be granted by a court of competent jurisdiction that you the Securities and Exchange Commission by any rule, regulation or any of your officers or directors has taken any action which results in a breach of your covenants set forth hereinorder.

Duration and Termination of this Agreement. This Agreement shall remain be effective as to a particular Portfolio as of the date of the commencement of the public sale of the shares of that Portfolio and unless sooner terminated as provided herein, shall continue in force until March 1, 1998effect as to a particular Portfolio for an initial term of two years, and shall continue in force from year to year on an annual basis thereafter, but only so long as such continuance is specifically approved at least annually during the 90 days prior to and including the anniversary of the effective date of the prior continuance, or on another schedule as approved by the Board of Directors which complies with the requirements of the 1940 Act, (a) by the vote of a majority of the Trustees Directors who are not parties to this Agreement or interested persons of any party to this Agreementthe Investment Adviser or of the Fund, cast in person at a meeting called for the purpose of voting on such approval, approval and (b) by the Trustees a vote of the Trust, Board of Directors or by the vote of a majority of the outstanding voting securities of the Fundthat Portfolio. The aforesaid requirement that continuance of this Agreement be "specifically approved at least annually" annually shall be construed in a manner consistent with the 1940 Act and the rules and regulations thereunder and any applicable SEC exemptive order therefromthereunder. This Agreement may may, on 60 days' written notice, be terminated with respect to the Fund any Portfolio at any time, time without the payment of any penalty, by the vote Board of a majority Directors of the outstanding voting securities of the Fund or by the Trust's Board of Trustees on 60 days' written notice to youFund, or by you on 60 days' written notice to the Trust. This Agreement shall terminate automatically in the event of its assignment. This Agreement may be terminated with respect to the Fund at any time without the payment of any penalty by the Board of Trustees or by vote of a majority of the outstanding voting securities of the Fund Fund, or by the Investment Adviser. This Agreement shall automatically terminate in the event that it of its assignment. In interpreting the provisions of this Agreement, the definitions contained in Section 2(a) of the 1940 Act (particularly the definitions of "interested person", "assignment" and "majority of the outstanding voting securities"), as from time to time amended, shall have been established be applied, subject, however, to such exemptions as may be granted by a court of competent jurisdiction that you the Securities and Exchange Commission by any rule, regulation or any of your officers or directors has taken any action which results in a breach of your covenants set forth hereinorder.

Duration and Termination of this Agreement. This Agreement shall remain become effective on the date first written above, subject to the condition that the Trust’s Board of Trustees (“Board”), including a majority of those Trustees who are not interested persons (as such term is defined in force until March 1the 1000 Xxx) of the Trust shall have approved this Agreement. Unless terminated as provided herein, 1998, and the Agreement shall continue in full force and effect through two years from the effective date of this Agreement and shall continue in effect from year to year thereafter, but only thereafter with respect to each Fund so long as such continuance is specifically approved at least annually (ai) by a vote of a majority of the outstanding voting securities of such Funds (as defined in the 1000 Xxx) or (ii) by a vote of a majority of the Trustees of the Trust, including a majority of those Trustees who are not parties to this Agreement or interested persons of any party to this Agreement(as such term is defined in the 1940 Act), cast in person at a meeting called for the purpose of voting on such approvalthis Agreement. However, and (b) any approval of this Agreement by the Trustees holders of a majority of the Trustoutstanding voting securities (as defined in the 1000 Xxx) of a Fund shall be effective to continue this Agreement with respect to such Fund notwithstanding (i) that this Agreement has not been approved by the holders of a majority of the outstanding voting securities of any other Fund, or (ii) that this Agreement has not been approved by the vote of a majority of the outstanding voting securities of the Fund. The aforesaid requirement that continuance of this Agreement be "specifically approved at least annually" Trust, unless such approval shall be construed in a manner consistent with the 1940 Act and the rules and regulations thereunder and required by any other applicable SEC exemptive order therefromlaw or otherwise. This Agreement may be terminated with respect as to the a particular Fund at any timetime on sixty (60) days’ written notice, without the payment of any penalty, by the Trust (by vote of a majority of the Board of Trustees of the Trust or by a vote of a majority of the outstanding voting securities of the Fund such Fund) or by the Trust's Board of Trustees on 60 days' written notice to you, or by you on 60 days' written notice to the TrustDistributor. This Agreement shall terminate automatically in the event of its assignment. This Agreement may be terminated with respect to the Fund at any time without the payment of any penalty by the Board of Trustees or by vote of a majority of the outstanding voting securities of the Fund assignment as described in the event that it shall have been established by a court of competent jurisdiction that you or any of your officers or directors has taken any action which results in a breach of your covenants set forth herein1940 Act and the rules and interpretations thereunder.

Duration and Termination of this Agreement. This Agreement shall remain in force until March April 1, 19982001, and continue in force from year to year thereafter, but only so long as such continuance is specifically approved at least annually (a) by the vote of a majority of the Trustees Directors who are not parties to this Agreement or interested persons of any party to this Agreement, cast in person at a meeting called for the purpose of voting on such approval, and (b) by the Trustees Directors of the TrustFund, or by the vote of a majority of the outstanding voting securities of the Fund. The aforesaid requirement that continuance of this Agreement be "specifically approved at least annually" shall be construed in a manner consistent with the 1940 Act and the rules and regulations thereunder and any applicable SEC exemptive order therefrom. This Agreement may be terminated with respect to the Fund at any time, without the payment of any penalty, by the vote of a majority of the outstanding voting securities of the Fund or by the TrustFund's Board of Trustees Directors on 60 days' written notice to you, or by you on 60 days' written notice to the TrustFund. This Agreement shall terminate automatically in the event of its assignment. This Agreement may be terminated with respect to the Fund at any time without the payment of any penalty by the Board of Trustees Directors or by vote of a majority of the outstanding voting securities of the Fund in the event that it shall have been established by a court of competent jurisdiction that you or any of your officers or directors has taken any action which results in a breach of your covenants set forth herein.

Duration and Termination of this Agreement. This Agreement shall remain in force until March December 1, 1998, and continue in force from year to year thereafter, but only so long as such continuance is specifically approved at least annually (a) by the vote of a majority of the Trustees who are not parties to this Agreement or interested persons of any party to this Agreement, cast in person at a meeting called for the purpose of voting on such approval, and (b) by the Trustees of the Trust, or by the vote of a majority of the outstanding voting securities of the Fund. The aforesaid requirement that continuance of this Agreement be "specifically approved at least annually" shall be construed in a manner consistent with the 1940 Act and the rules and regulations thereunder and any applicable SEC exemptive order therefrom. This Agreement may be terminated with respect to the Fund at any time, without the payment of any penalty, by the vote of a majority of the outstanding voting securities of the Fund or by the Trust's Board of Trustees on 60 days' written notice to you, or by you on 60 days' written days'written notice to the Trust. This Agreement shall terminate automatically in the event of its assignment. This Agreement may be terminated with respect to the Fund at any time without the payment of any penalty by the Board of Trustees or by vote of a majority of the outstanding voting securities of the Fund in the event that it shall have been established by a court of competent jurisdiction that you or any of your officers or directors has taken any action which results in a breach of your covenants set forth herein.

Duration and Termination of this Agreement. This Agreement shall remain in force until March 1, 1998, and continue in force from year to year thereafter, but only so long as such continuance is specifically approved at least annually (a) by the vote of a majority of the Trustees who are not parties to this Agreement or interested persons of any party to this Agreement, cast in person at a meeting called for the purpose of voting on such approval, and (b) by the Trustees of the Trust, or by the vote of a majority of the outstanding voting securities of the Fund. The aforesaid requirement that continuance of this Agreement be "specifically approved at least annually" shall be construed in a manner consistent with the 1940 Act and the rules and regulations thereunder and any applicable SEC exemptive order therefrom. This Agreement may be terminated with respect to the Fund at any time, without the payment of any penalty, by the vote of a majority of the outstanding voting securities of the Fund or by the Trust's Board of Trustees on 60 days' written notice to you, or by you on 60 days' written days'written notice to the Trust. This Agreement shall terminate automatically in the event of its assignment. This Agreement may be terminated with respect to the Fund at any time without the payment of any penalty by the Board of Trustees or by vote of a majority of the outstanding voting securities of the Fund in the event that it shall have been established by a court of competent jurisdiction that you or any of your officers or directors has taken any action which results in a breach of your covenants set forth herein.

Duration and Termination of this Agreement. This Agreement shall remain become effective on the date first written above, subject to the condition that the Fund’s Board of Directors (“Board”), including a majority of those Directors who are not interested persons (as such term is defined in the 0000 Xxx) of the Fund shall have approved this Agreement. Unless terminated as provided herein, the Agreement shall continue in full force until March 1and effect through November 30, 19982008, and shall continue in force effect from year to year thereafter, but only thereafter with respect to each Fund so long as such continuance is specifically approved at least annually (ai) by the a vote of a majority of the Trustees outstanding voting securities of such Portfolios (as defined in the 0000 Xxx) or (ii) by a vote of a majority of the Directors of the Fund, including a majority of those Directors who are not parties to this Agreement or interested persons of any party to this Agreement(as such term is defined in the 1940 Act), cast in person at a meeting called for the purpose of voting on such approvalthis Agreement. However, and (b) any approval of this Agreement by the Trustees holders of a majority of the Trustoutstanding voting securities (as defined in the 0000 Xxx) of a Fund shall be effective to continue this Agreement with respect to such Fund notwithstanding (i) that this Agreement has not been approved by the holders of a majority of the outstanding voting securities of any other Fund, or (ii) that this Agreement has not been approved by the vote of a majority of the outstanding voting securities of the Fund. The aforesaid requirement that continuance of this Agreement be "specifically approved at least annually" , unless such approval shall be construed in a manner consistent with the 1940 Act and the rules and regulations thereunder and required by any other applicable SEC exemptive order therefromlaw or otherwise. This Agreement may be terminated with respect as to the a particular Fund at any timetime on sixty (60) days’ written notice, without the payment of any penalty, by the Fund (by vote of a majority of the Board of Directors of the Fund or by a vote of a majority of the outstanding voting securities of the Fund such Fund) or by the Trust's Board of Trustees on 60 days' written notice to you, or by you on 60 days' written notice to the TrustDistributor. This Agreement shall terminate automatically in the event of its assignment. This Agreement may be terminated with respect to the Fund at any time without the payment of any penalty by the Board of Trustees or by vote of a majority of the outstanding voting securities of the Fund assignment as described in the event that it shall have been established by a court of competent jurisdiction that you or any of your officers or directors has taken any action which results in a breach of your covenants set forth herein1940 Act and the rules and interpretations thereunder.

Duration and Termination of this Agreement. This Agreement shall remain in force until March April 1, 1998, and continue in force from year to year thereafter, but only so long as such continuance is specifically approved at least annually (a) by the vote of a majority of the Trustees who are not parties to this Agreement or interested persons of any party to this Agreement, cast in person at a meeting called for the purpose of voting on such approval, and (b) by the Trustees of the Trust, or by the vote of a majority of the outstanding voting securities of the Fund. The aforesaid requirement that continuance of this Agreement be "specifically approved at least annually" shall be construed in a manner consistent with the 1940 Act and the rules and regulations thereunder and any applicable SEC exemptive order therefrom. This Agreement may be terminated with respect to the Fund at any time, without the payment of any penalty, by the vote of a majority of the outstanding voting securities of the Fund or by the Trust's Trust s Board of Trustees on 60 days' days written notice to you, or by you on 60 days' written notice to the Trust. This Agreement shall terminate automatically in the event of its assignment. This Agreement may be terminated with respect to the Fund at any time without the payment of any penalty by the Board of Trustees or by vote of a majority of the outstanding voting securities of the Fund in the event that it shall have been established by a court of competent jurisdiction that you or any of your officers or directors has taken any action which results in a breach of your covenants set forth herein.

Duration and Termination of this Agreement. This Agreement shall become effective as of the day and year first above written and shall govern the relations between the parties hereto thereafter, and shall remain in force until March 1, 1998, and continue in force from year to year thereafter, but only so long as such [DATE] on which date it will terminate unless its continuance after [DATE] is "specifically approved at least annually annually" (a) by the vote of a majority of the Board of Trustees of the Trust who are not parties to this Agreement "interested persons" of the Trust or interested persons of any party to this Agreement, cast in person the Administrator at a meeting specifically called for the purpose of voting on such approval, and (b) by the Board of Trustees of the Trust, Trust or by the "vote of a majority of the outstanding voting securities securities" of the Trust or each Fund. The aforesaid requirement that continuance of , if any, as to which this Agreement be is to continue, and provided, however, that the term "specifically approved at least annuallyassignment" shall be construed in include (without limitation) any sale, transfer or conversion of a manner consistent with the 1940 Act and the rules and regulations thereunder and controlling interest of any applicable SEC exemptive order therefromclass of voting stock of LFBDS or of any entity which holds a controlling interest of any class of voting stock of LFBDS or another such entity. This Agreement may be terminated with respect as to the Trust or any Fund at any time, without the payment of any penalty, by the Board of Trustees of the Trust or by the "vote of a majority of the outstanding voting securities securities" of the Fund such Trust or Fund, or by the Trust's Board of Trustees Administrator, in each case on not more than 60 days' written notice to you, or by you on 60 nor less than 30 days' written notice to the Trustother party. This Agreement shall automatically terminate automatically in the event of its "assignment. This Agreement may be terminated with respect to the Fund at any time without the payment of any penalty by the Board of Trustees or by vote of a majority of the outstanding voting securities of the Fund in the event that it shall have been established by a court of competent jurisdiction that you or any of your officers or directors has taken any action which results in a breach of your covenants set forth herein".

Duration and Termination of this Agreement. This Agreement shall remain in force until March 1September 30, 19982002, and continue in force from year to year thereafterthereafter with respect to each Fund, but only so long as such continuance is specifically approved for each Fund at least annually (a) by the vote of a majority of the Trustees who are not parties to this Agreement or interested persons of any party to this Agreement, cast in person at a meeting called for the purpose of voting on such approval, and (b) by the Trustees of the Trust, or by the vote of a majority of the outstanding voting securities of the such Fund. The aforesaid requirement that continuance of this Agreement be "specifically approved at least annually" shall be construed in a manner consistent with the 1940 Act and the rules and regulations thereunder and any applicable SEC exemptive order therefrom. This Agreement may be terminated with respect to the a Fund at any time, without the payment of any penalty, by the vote of a majority of the outstanding voting securities of the such Fund or by the Trust's Board of Trustees on 60 days' written notice to you, or by you on 60 days' written notice to the Trust. This Agreement shall terminate automatically in the event of its assignment. This Agreement may be terminated with respect to the a Fund at any time without the payment of any penalty by the Board of Trustees or by vote of a majority of the outstanding voting securities of the Fund in the event that it shall have been established by a court of competent jurisdiction that you or any of your officers or directors has taken any action which results in a breach of your covenants set forth herein.

Duration and Termination of this Agreement. This Agreement shall remain in ------------------------------------------ force until March 1June 30, 1998, 1992 and shall continue in force from year to for periods of one year thereafter, but only so long as such continuance, and the continuance of the Adviser as investment adviser of the Fund, is specifically approved at least annually (a) by the vote of a majority of the Trustees who are not parties to this Agreement or interested persons (as defined in the 0000 Xxx) of any party to the Trust or the Adviser and have no financial interest in this Agreement, cast in person at a meeting called for the purpose of voting on such approval, approval and (b) by the Trustees a vote of a majority of the Trust, Board of Trustees or by the vote of a majority of the outstanding voting securities of the Fund. The aforesaid requirement that continuance of this Agreement be "specifically approved at least annually" shall be construed in a manner consistent with the 1940 Act and the rules and regulations thereunder and any applicable SEC exemptive order therefromthereunder. This Agreement may may, on 60 days' written notice to the other party, be terminated with respect to the Fund at any time, time without the payment of any penalty, by the vote of a majority of the outstanding voting securities of the Fund or by the Trust's Board of Trustees on 60 days' written notice to you, or by you on 60 days' written notice to of the Trust. This Agreement shall terminate automatically in the event of its assignment. This Agreement may be terminated with respect to the Fund at any time without the payment of any penalty by the Board of Trustees or , by vote of a majority of the outstanding voting securities of the Fund Fund, by the Adviser, or by you. This Agreement shall automatically terminate in the event that it of its assignment. In interpreting the provisions of this Agreement, the definitions contained in Section 2(a) of the 1940 Act (particularly the definitions of "interested person," "assignment" and "majority of the outstanding voting securities"), as from time to time amended, shall have been established be applied, subject, however, to such exemptions as may be granted by a court of competent jurisdiction that you the Securities and Exchange Commission by any rule, regulation or any of your officers or directors has taken any action which results in a breach of your covenants set forth hereinorder.

Duration and Termination of this Agreement. This Agreement shall remain become effective on the date first written above, subject to the condition that the Fund’s Board of Directors (“Board”), including a majority of those Directors who are not interested persons (as such term is defined in force until March 1the 0000 Xxx) of the Fund shall have approved this Agreement. Unless terminated as provided herein, 1998, and the Agreement shall continue in full force and effect through two years from the effective date of this Agreement and shall continue in effect from year to year thereafter, but only thereafter with respect to each Fund so long as such continuance is specifically approved at least annually (ai) by the a vote of a majority of the Trustees outstanding voting securities of such Portfolios (as defined in the 0000 Xxx) or (ii) by a vote of a majority of the Directors of the Fund, including a majority of those Directors who are not parties to this Agreement or interested persons of any party to this Agreement(as such term is defined in the 1940 Act), cast in person at a meeting called for the purpose of voting on such approvalthis Agreement. However, and (b) any approval of this Agreement by the Trustees holders of a majority of the Trustoutstanding voting securities (as defined in the 0000 Xxx) of a Fund shall be effective to continue this Agreement with respect to such Fund notwithstanding (i) that this Agreement has not been approved by the holders of a majority of the outstanding voting securities of any other Fund, or (ii) that this Agreement has not been approved by the vote of a majority of the outstanding voting securities of the Fund. The aforesaid requirement that continuance of this Agreement be "specifically approved at least annually" , unless such approval shall be construed in a manner consistent with the 1940 Act and the rules and regulations thereunder and required by any other applicable SEC exemptive order therefromlaw or otherwise. This Agreement may be terminated with respect as to the a particular Fund at any timetime on sixty (60) days’ written notice, without the payment of any penalty, by the Fund (by vote of a majority of the Board of Directors of the Fund or by a vote of a majority of the outstanding voting securities of the Fund such Fund) or by the Trust's Board of Trustees on 60 days' written notice to you, or by you on 60 days' written notice to the TrustDistributor. This Agreement shall terminate automatically in the event of its assignment. This Agreement may be terminated with respect to the Fund at any time without the payment of any penalty by the Board of Trustees or by vote of a majority of the outstanding voting securities of the Fund assignment as described in the event that it shall have been established by a court of competent jurisdiction that you or any of your officers or directors has taken any action which results in a breach of your covenants set forth herein1940 Act and the rules and interpretations thereunder.

Duration and Termination of this Agreement. This Agreement shall remain in force until March 1, 1998, and continue in force from year to year thereafter, but only so long as such continuance is specifically approved at least annually (a) by the vote of a majority of the Trustees who are not parties to this Agreement or interested persons of any party to this Agreement, cast in person at a meeting called for the purpose of voting on such approval, and (b) by the Trustees of the Trust, or by the 8 vote of a majority of the outstanding voting securities of the Fund. The aforesaid requirement that continuance of this Agreement be "specifically approved at least annually" shall be construed in a manner consistent with the 1940 Act and the rules and regulations thereunder and any applicable SEC exemptive order therefrom. This Agreement may be terminated with respect to the Fund at any time, without the payment of any penalty, by the vote of a majority of the outstanding voting securities of the Fund or by the Trust's Board of Trustees on 60 days' written notice to you, or by you on 60 days' written notice to the Trust. This Agreement shall terminate automatically in the event of its assignment. This Agreement may be terminated with respect to the Fund at any time without the payment of any penalty by the Board of Trustees or by vote of a majority of the outstanding voting securities of the Fund in the event that it shall have been established by a court of competent jurisdiction that you or any of your officers or directors has taken any action which results in a breach of your covenants set forth herein.

Duration and Termination of this Agreement. This Agreement shall remain in force until March 1September 30, 19982002, and continue in force from year to year thereafter, but only so long as such continuance is specifically approved for each Fund at least annually (a) by the vote of a majority of the Trustees who are not parties to this Agreement or interested persons of any party to this Agreement, cast in person at a meeting called for the purpose of voting on such approval, and (b) by the Trustees of the Trust, or by the vote of a majority of the outstanding voting securities of the such Fund. The aforesaid requirement that continuance of this Agreement be "specifically approved at least annually" shall be construed in a manner consistent with the 1940 Act and the rules and regulations thereunder and any applicable SEC exemptive order therefrom. This Agreement may be terminated with respect to the a Fund at any time, without the payment of any penalty, by the vote of a majority of the outstanding voting securities of the such Fund or by the Trust's Board of Trustees on 60 days' written notice to you, or by you on 60 days' written notice to the Trust. This Agreement shall terminate automatically in the event of its assignment. This Agreement may be terminated with respect to the a Fund at any time without the payment of any penalty by the Board of Trustees or by vote of a majority of the outstanding voting securities of the Fund in the event that it shall have been established by a court of competent jurisdiction that you or any of your officers or directors has taken any action which results in a breach of your covenants set forth herein.

Duration and Termination of this Agreement. This Agreement shall remain be effective with respect to each Fund on the date set forth opposite the Fund’s name on Annex A (the “Effective Date”), provided that it shall have been approved by the Trustees and by the shareholders of the Fund in force until March 1accordance with the requirements of the 1940 Act and, 1998unless sooner terminated, and shall continue in force from year to effect until the second anniversary of the Effective Date and for periods of one year thereafter, but only so long as each such one-year period of continuance is specifically approved at least annually (a) by the vote of a majority of the Trustees who are not parties to this Agreement or interested persons (as defined in the 0000 Xxx) of any party to this Agreement and have no financial interest in this Agreement, cast in person at a meeting called for the purpose of voting on such approval, approval and (b) by a vote of a majority of the Trustees of the Trust, or by the vote of a majority of the outstanding voting securities of the such Fund. The aforesaid requirement that continuance of this Agreement be "“specifically approved at least annually" ” shall be construed in a manner consistent with the 1940 Act and the rules and regulations thereunder and any applicable SEC exemptive order therefromthereunder. This Agreement may may, on 60 days written notice to the other party, be terminated with respect in its entirety or as to the a particular Fund at any time, time without the payment of any penalty, by the vote of a majority of the outstanding voting securities of the Fund or by the Trust's Board of Trustees on 60 days' written notice to youTrustees, or by you on 60 days' written notice to the Trust. This Agreement shall terminate automatically in the event of its assignment. This Agreement may be terminated with respect to the Fund at any time without the payment of any penalty by the Board of Trustees or by vote of a majority of the outstanding voting securities of the applicable Fund, or by you. This Agreement shall automatically terminate with respect to a Fund in the event that it of its assignment with respect to such Fund. In interpreting the provisions of this Agreement, the definitions contained in Section 2(a) of the 1940 Act (particularly the definitions of “interested person,” “assignment” and “majority of the outstanding voting securities”), as from time to time amended, shall have been established be applied, subject, however, to such exemptions as may be granted by a court of competent jurisdiction that you the SEC by any rule, regulation or any of your officers or directors has taken any action which results in a breach of your covenants set forth hereinorder.

Duration and Termination of this Agreement. This Agreement shall remain in force until March April 1, 1998, and continue in force from year to year thereafter, but only so long as such continuance is specifically approved at least annually (a) by the vote of a majority of the Trustees who are not parties to this Agreement or interested persons of any party to this Agreement, cast in person at a meeting called for the purpose of voting on such approval, and (b) by the Trustees of the Trust, or by the vote of a majority of the outstanding voting securities of the Fund. The aforesaid requirement that continuance of this Agreement be "specifically approved at least annually" shall be construed in a manner consistent with the 1940 Act and the rules and regulations thereunder and any applicable SEC exemptive order therefrom. This Agreement may be terminated with respect to the Fund at any time, without the payment of any penalty, by the vote of a majority of the outstanding voting securities of the Fund or by the Trust's ' Board of Trustees on 60 days' written days'written notice to you, or by you on 60 days' written days'written notice to the Trust. This Agreement shall terminate automatically in the event of its assignment. This Agreement may be terminated with respect to the Fund at any time without the payment of any penalty by the Board of Trustees or by vote of a majority of the outstanding voting securities of the Fund in the event that it shall have been established by a court of competent jurisdiction that you or any of your officers or directors has taken any action which results in a breach of your covenants set forth herein.

Duration and Termination of this Agreement. This Agreement shall remain in ------------------------------------------ force as to each Fund until March 1June 30, 1998, 2000 and shall continue in force from year to for periods of one year thereafter, but only so long as such continuance is specifically approved at least annually (a) by the vote of a majority of the Trustees who are not parties to this Agreement or interested persons (as defined in the 0000 Xxx) of any party to the Registrant and have no financial interest in this Agreement, cast in person at a meeting called for the purpose of voting on such approval, approval and (b) by a vote of a majority of the Trustees of the Trust, Registrant or by the vote of a majority of the outstanding voting securities of the such Fund. The aforesaid requirement that continuance of this Agreement be "specifically approved at least annually" shall be construed in a manner consistent with the 1940 Act and the rules and regulations thereunder and any applicable SEC exemptive order therefromthereunder. This Agreement may may, on 60 days written notice to the other party, be terminated with respect in its entirety or as to the a particular Fund at any time, time without the payment of any penalty, by the vote of a majority Trustees of the outstanding voting securities of the Fund or by the Trust's Board of Trustees on 60 days' written notice to youRegistrant, or by you on 60 days' written notice to the Trust. This Agreement shall terminate automatically in the event of its assignment. This Agreement may be terminated with respect to the Fund at any time without the payment of any penalty by the Board of Trustees or by vote of a majority of the outstanding voting securities of the Fund a Fund, or by you. This Agreement shall automatically terminate in the event that it of its assignment. In interpreting the provisions of this Agreement, the definitions contained in Section 2(a) of the 1940 Act (particularly the definitions of "interested person," "assignment" and "majority of the outstanding voting securities"), as from time to time amended, shall have been established be applied, subject, however, to such exemptions as may be granted by a court of competent jurisdiction that you the Securities and Exchange Commission by any rule, regulation or any of your officers or directors has taken any action which results in a breach of your covenants set forth hereinorder.

Duration and Termination of this Agreement. This Agreement shall remain in force until March 1August 31, 19981999, and continue in force from year to year thereafter, but only so long as such continuance is specifically approved at least annually (a) by the vote of a majority of the Trustees who are not parties to this Agreement or interested persons of any party to this Agreement, cast in person at a meeting called for the purpose of voting on such approval, and (b) by the Trustees of the Trust, or by the vote of a majority of the outstanding voting securities of the Fund. The aforesaid requirement that continuance of this Agreement be "specifically approved at least annually" shall be construed in a manner consistent with the 1940 Act and the rules and regulations thereunder and any applicable SEC exemptive order therefrom. This Agreement may be terminated with respect to the Fund at any time, without the payment of any penalty, by the vote of a majority of the outstanding voting securities of the Fund or by the Trust's Board of Trustees on 60 days' written notice to you, or by you on 60 days' written notice to the Trust. This Agreement shall terminate automatically in the event of its assignment. This Agreement may be terminated with respect to the Fund at any time without the payment of any penalty by the Board of Trustees or by vote of a majority of the outstanding voting securities of the Fund in the event that it shall have been established by a court of competent jurisdiction that you or any of your officers or directors has taken any action which results in a breach of your covenants set forth herein.

Duration and Termination of this Agreement. This Agreement shall remain in force until March April 1, 19981999, and continue in force from year to year thereafter, but only so long as such continuance is specifically approved at least annually (a) by the vote of a majority of the Trustees Directors who are not parties to this Agreement or interested persons of any party to this Agreement, cast in person at a meeting called for the purpose of voting on such approval, and (b) by the Trustees Directors of the TrustFund, or by the vote of a majority of the outstanding voting securities of the Fund. The aforesaid requirement that continuance of this Agreement be "specifically approved at least annually" shall be construed in a manner consistent with the 1940 Act and the rules and regulations thereunder and any applicable SEC exemptive order therefrom. This Agreement may be terminated with respect to the Fund at any time, without the payment of any penalty, by the vote of a majority of the outstanding voting securities of the Fund or by the TrustFund's Board of Trustees Directors on 60 days' written notice to you, or by you on 60 days' written notice to the TrustFund. This Agreement shall terminate automatically in the event of its assignment. This Agreement may be terminated with respect to the Fund at any time without the payment of any penalty by the Board of Trustees Directors or by vote of a majority of the outstanding voting securities of the Fund in the event that it shall have been established by a court of competent jurisdiction that you or any of your officers or directors has taken any action which results in a breach of your covenants set forth herein.

Duration and Termination of this Agreement. This Agreement shall remain in ------------------------------------------ force until March 1June 30, 1998, 1993 and shall continue in force from year to for periods of one year thereafter, but only so long as such continuance is specifically approved at least annually (a) by the vote of a majority of the Trustees who are not parties to this Agreement or interested persons (as defined in the 0000 Xxx) of any party to the Trust and have no financial interest in this Agreement, cast in person at a meeting called for the purpose of voting on such approval, approval and (b) by the Trustees a vote of a majority of the Trust, Board of Trustees or by the vote of a majority of the outstanding voting securities of the Fund. The aforesaid requirement that continuance of this Agreement be "specifically approved at least annually" shall be construed in a manner consistent with the 1940 Act and the rules and regulations thereunder and any applicable SEC exemptive order therefromthereunder. This Agreement may may, on 60 days' written notice to the other party, be terminated with respect to the Fund at any time, time without the payment of any penalty, by the vote of a majority of the outstanding voting securities of the Fund or by the Trust's Board of Trustees on 60 days' written notice to you, or by you on 60 days' written notice to of the Trust. This Agreement shall terminate automatically in the event of its assignment. This Agreement may be terminated with respect to the Fund at any time without the payment of any penalty by the Board of Trustees or , by vote of a majority of the outstanding voting securities of the Fund Fund, or by you. This Agreement shall automatically terminate in the event that it of its assignment. In interpreting the provisions of this Agreement, the definitions contained in Section 2(a) of the 1940 Act (particularly the definitions of "interested person," "assignment" and "majority of the outstanding voting securities"), as from time to time amended, shall have been established be applied, subject, however, to such exemptions as may be granted by a court of competent jurisdiction that you the Securities and Exchange Commission by any rule, regulation or any of your officers or directors has taken any action which results in a breach of your covenants set forth hereinorder.

Duration and Termination of this Agreement. This Agreement shall remain in force until March 1September 30, 19981999, and continue in force from year to year thereafter, but only so long as such continuance is specifically approved at least annually (a) by the vote of a majority of the Trustees who are not parties to this Agreement or interested persons of any party to this Agreement, cast in person at a meeting called for the purpose of voting on such approval, and (b) by the Trustees of the TrustFund, or by the vote of a majority of the outstanding voting securities of the Fund. The aforesaid requirement that continuance of this Agreement be "specifically approved at least annually" shall be construed in a manner consistent with the 1940 Act and the rules and regulations thereunder and any applicable SEC exemptive order therefrom. This Agreement may be terminated with respect to the Fund at any time, without the payment of any penalty, by the vote of a majority of the outstanding voting securities of the Fund or by the TrustFund's Board of Trustees on 60 days' written notice to you, or by you on 60 days' written notice to the TrustFund. This Agreement shall terminate automatically in the event of its assignment. This Agreement may be terminated with respect to the Fund at any time without the payment of any penalty by the Board of Trustees or by vote of a majority of the outstanding voting securities of the Fund in the event that it shall have been established by a court of competent jurisdiction that you or any of your officers or directors has taken any action which results in a breach of your covenants set forth herein.

Duration and Termination of this Agreement. This With respect to each Fund and the Distributor, this Agreement shall become effective as of the date first written above and unless terminated as provided herein, shall remain in force until March effect through February 1, 19982011, and continue in force from year to year thereafter, but only so long as such continuance is specifically approved at least annually (a) by the a vote of a majority of the Trustees who are not parties to this Agreement agreement or interested persons of any party to this Agreementsuch party, cast voting in person at a meeting called for the purpose of voting on such approval, and (b) by the Trustees vote of either a majority of the Trust, Trustees or by the vote of a majority of the outstanding voting securities of the Fund. The aforesaid requirement that If the continuance of this Agreement be "specifically is not approved at least annually" shall be construed as to a Fund, the Distributor may continue to render to that Fund the services described herein in a the manner consistent with and to the extent permitted by the 1940 Act and the rules and regulations thereunder thereunder, and any applicable SEC exemptive order therefromthis Agreement shall continue with respect to those Funds that have approved its continuance. This Agreement may be terminated with respect to by and between an individual Fund and the Fund Distributor at any time, without the payment of any penaltypenalty (a) on 60 days’ written notice, by a vote of a majority of the Trustees or by a vote of a majority of the outstanding voting securities of the Fund such Fund, or (b) by the Trust's Board Distributor. Without prejudice to any other remedies of Trustees JIF, JIF may terminate this Agreement at any time immediately on 60 days' written notice in the event of the Distributor’s failure to youfulfill any of its obligations hereunder, including the termination or by you on 60 days' written notice to suspension of any of the TrustRegistrations. This Agreement shall will automatically terminate automatically in the event of its assignment. This Agreement may be terminated with respect to In interpreting the Fund at any time without provisions of this Paragraph 14, the payment definitions contained in Section 2(a) of any penalty by the Board 1940 Act (particularly the definitions of Trustees or by vote of a “interested person”, “assignment”, and “majority of the outstanding voting securities of the Fund in the event that it “) shall have been established by a court of competent jurisdiction that you or any of your officers or directors has taken any action which results in a breach of your covenants set forth hereinbe applied.

Duration and Termination of this Agreement. This Agreement shall remain in force until March 1September 30, 19982008, and continue in force from year to year thereafter, but only so long as such continuance is specifically approved at least annually (a) by the vote of a majority of the Trustees Directors who are not parties to this Agreement or interested persons of any party to this Agreement, cast in person at a meeting called for the purpose of voting on such approval, and (b) by the Trustees Directors of the TrustCorporation, or by the vote of a majority of the outstanding voting securities of the Fund. The aforesaid requirement that continuance of this Agreement be "“specifically approved at least annually" ” shall be construed in a manner consistent with the 1940 Act and the rules and regulations thereunder and any applicable SEC exemptive order therefrom. This Agreement may be terminated with respect to the Fund at any time, without the payment of any penalty, by the vote of a majority of the outstanding voting securities of the Fund or by the Trust's Corporation’s Board of Trustees Directors on 60 days' ’ written notice to you, or by you on 60 days' ’ written notice to the TrustCorporation. This Agreement shall terminate automatically in the event of its assignment. This Agreement may be terminated with respect to the Fund at any time without the payment of any penalty by the Board of Trustees Directors or by vote of a majority of the outstanding voting securities of the Fund in the event that it shall have been established by a court of competent jurisdiction that you or any of your officers or directors has taken any action which results in a breach of your covenants set forth herein.

Duration and Termination of this Agreement. This Agreement shall remain in ------------------------------------------ force until March 1June 30, 1998, 1994 and shall continue in force from year to for periods of one year thereafter, but only so long as such continuance is specifically approved at least annually (a) by the vote of a majority of the Trustees who are not parties to this Agreement or interested persons (as defined in the 0000 Xxx) of any party to the Trust and have no financial interest in this Agreement, cast in person at a meeting called for the purpose of voting on such approval, approval and (b) by the Trustees a vote of a majority of the Trust, Board of Trustees or by the vote of a majority of the outstanding voting securities of the Fund. The aforesaid requirement that continuance of this Agreement be "specifically approved at least annually" shall be construed in a manner consistent with the 1940 Act and the rules and regulations thereunder and any applicable SEC exemptive order therefromthereunder. This Agreement may may, on 60 days' written notice to the other party, be terminated with respect to the Fund at any time, time without the payment of any penalty, by the vote of a majority of the outstanding voting securities of the Fund or by the Trust's Board of Trustees on 60 days' written notice to you, or by you on 60 days' written notice to of the Trust. This Agreement shall terminate automatically in the event of its assignment. This Agreement may be terminated with respect to the Fund at any time without the payment of any penalty by the Board of Trustees or , by vote of a majority of the outstanding voting securities of the Fund Fund, or by you. This Agreement shall automatically terminate in the event that it of its assignment. In interpreting the provisions of this Agreement, the definitions contained in Section 2(a) of the 1940 Act (particularly the definitions of "interested person," "assignment" and "majority of the outstanding voting securities"), as from time to time amended, shall have been established be applied, subject, however, to such exemptions as may be granted by a court of competent jurisdiction that you the Securities and Exchange Commission by any rule, regulation or any of your officers or directors has taken any action which results in a breach of your covenants set forth hereinorder.

Duration and Termination of this Agreement. This Agreement shall remain in ------------------------------------------ force as to each Fund until March 1June 30, 1998, 1998 and shall continue in force from year to for periods of one year thereafter, but only so long as such continuance is specifically approved at least annually (a) by the vote of a majority of the Trustees [Trustees/Directors] who are not parties to this Agreement or interested persons (as defined in the 0000 Xxx) of any party to the Registrant and have no financial interest in this Agreement, cast in person at a meeting called for the purpose of voting on such approval, approval and (b) by the Trustees a vote of a majority of the Trust, Board of [Trustees/Directors] of the Registrant or by the vote of a majority of the outstanding voting securities of the such Fund. The aforesaid requirement that continuance of this Agreement be "specifically approved at least annually" shall be construed in a manner consistent with the 1940 Act and the rules and regulations thereunder and any applicable SEC exemptive order therefromthereunder. This Agreement may may, on 60 days written notice to the other party, be terminated with respect in its entirety or as to the a particular Fund at any time, time without the payment of any penalty, by the vote Board of a majority [Trustees/Directors] of the outstanding voting securities of the Fund or by the Trust's Board of Trustees on 60 days' written notice to youRegistrant, or by you on 60 days' written notice to the Trust. This Agreement shall terminate automatically in the event of its assignment. This Agreement may be terminated with respect to the Fund at any time without the payment of any penalty by the Board of Trustees or by vote of a majority of the outstanding voting securities of the Fund a Fund, or by you. This Agreement shall automatically terminate in the event that it of its assignment. In interpreting the provisions of this Agreement, the definitions contained in Section 2(a) of the 1940 Act (particularly the definitions of "interested person," "assignment" and "majority of the outstanding voting securities"), as from time to time amended, shall have been established be applied, subject, however, to such exemptions as may be granted by a court of competent jurisdiction that you the Securities and Exchange Commission by any rule, regulation or any of your officers or directors has taken any action which results in a breach of your covenants set forth hereinorder.