Duties of the Sub. Investment Manager ------------------------------------ Subject to the supervision and approval of the Investment Manager and the Fund's Board of Directors, the Sub-Investment Manager will manage the investment and reinvestment of the assets of the Fund's Xxxxxx Oakmark Large Cap Value Portfolio (the "Portfolio") for the period and on the terms and conditions set forth in this Agreement. In acting as Sub-Investment Manager to the Fund with respect to the Portfolio, the Sub-Investment Manager shall determine which securities shall be purchased, sold or exchanged and what portion of the assets of the Portfolio shall be held in the various securities or other assets in which it may invest, subject always to any restrictions of the Fund's Articles of Incorporation and By-Laws, as amended or supplemented from time to time, the provisions of applicable laws and regulations including the Investment Company Act, and the statements relating to the Portfolio's investment objectives, policies and restrictions as the same are set forth in the prospectus and statement of additional information of the Fund then currently effective under the Securities Act of 1933 (the "Prospectus") and provided to Sub-Investment Manager in writing. Should the Board of Directors of the Fund or the Investment Manager at any time, however, make any definite determination as to investment policy and notify in writing the Sub-Investment Manager thereof, the Sub-Investment Manager shall be bound by such determination for the period, if any, specified in such notice or until similarly notified in writing that such determination has been revoked. The Sub-Investment Manager shall take, on behalf of the Fund, all actions which it deems necessary to implement the investment policies of the Portfolio, determined as provided above, and in particular to place all orders for the purchase or sale of portfolio securities for the Portfolio with brokers or dealers selected by it. In connection with the selection of such brokers or dealers and the placing of such orders, the Sub-Investment Manager is directed at all times to follow the policies of the Fund set forth in the Prospectus. Nothing herein shall preclude the "bunching" of orders for the sale or purchase of portfolio securities with other Fund portfolios or with other accounts managed by the Sub- Investment Manager. The Sub-Investment Manager shall not favor any account over any other and any purchase or sale orders executed contemporaneously shal...
Duties of the Sub. ADVISER AIM hereby employs the Sub-Adviser to act as investment adviser to the Series and to furnish the investment advisory services described below, subject to the broad supervision of AIM and the Board of Directors of the Fund, for the period and on the terms and conditions set forth in this Agreement. The Sub-Adviser hereby accepts such assignment and agrees during such period, at its own expense, to render such services and to assume the obligations herein set forth for the compensation provided for herein. The Sub-Adviser shall for all purposes herein be deemed to be an independent contractor and, unless otherwise expressly provided or authorized herein, shall have no authority to act for or represent the Fund in any way or otherwise be deemed an agent of the Fund. The Sub-Adviser hereby agrees to manage the investment operations of the Fund's Series, subject to the supervision of the Fund's directors (the "Directors") and AIM. Specifically, the Sub-Adviser agrees to perform the following services:
Duties of the Sub adviser The Adviser hereby employs the Sub-adviser to act with the Adviser as investment advisers to and managers of the Portfolio, and, subject to the review of the Board of Directors of the Fund ("the Board"), to manage the investment and reinvestment of the assets of the Portfolio and to administer its affairs, for the period and on the terms and conditions set forth in this Agreement. The Sub-adviser hereby accepts such employment and agrees during such period to render the services and to assume the obligations herein set forth for the compensation provided for herein. The Sub-adviser shall for all purposes herein be deemed to be an independent contractor and shall, unless otherwise expressly provided or authorized by this Agreement or otherwise, have no authority to act for or represent the Fund in any way or otherwise be deemed an agent of the Fund.
Duties of the Sub. Adviser With Respect to a Model Portfolio
Duties of the Sub. Adviser The Investment Adviser hereby employs the Sub-Adviser to act as sub-adviser to the Investment Adviser and to furnish, or arrange for affiliates to furnish, certain investment advisory services with respect to the daily cash position of the Portfolio, as described below, subject to the supervision of the Investment Adviser and the Trustees of the Trust, for the period and on the terms and conditions set forth in this Agreement. The Sub-Adviser hereby accepts such employment and agrees during such period to render, or arrange for the rendering of, such services and to assume the obligations herein set forth for the compensation from the Investment Adviser provided for herein. The Sub-Adviser and its affiliates shall for all purposes herein be deemed to be an independent contractor and shall, unless otherwise expressly provided or authorized, have no authority to act for or represent the Trust or Portfolio in any way or otherwise be deemed an agent of the Trust or Portfolio.
Duties of the Sub. Custodian with Respect to Property of the Fund Held --------------------------------------------------------------------- Outside of the United States ----------------------------
Duties of the Sub adviser. The Sub-adviser will serve the Manager as investment sub-adviser with respect to each Fund.
Duties of the Sub. CUSTODIAN WITH RESPECT TO PROPERTY OF THE PORTFOLIOS ---------------------------------------------------------------------- HELD OUTSIDE THE UNITED STATES. ------------------------------
Duties of the Sub adviser The Adviser hereby employs and authorizes the Sub-adviser to act as an investment subadviser to and manager of the Portfolios, and, subject to the periodic review of the Board of Directors of the Fund (the "Board"), to, in accordance with the terms and conditions of this Agreement, manage the investment and reinvestment of the assets of the Portfolios and to administer its affairs, for the period and on the terms and conditions set forth in this Agreement. The Sub-Adviser may perform its day-to-day investment subadvisory services under this Agreement in its discretion and without prior consultation in accordance with this Agreement (including, without limitation, the documents referred to in Section B below). The Sub-adviser hereby accepts such employment and agrees during such period, at its own expense (as provided in Section B of Article III below), to render the services and to assume the obligations herein set forth for the compensation provided for herein. The discretion granted to Sub-adviser under this Agreement includes the authority to execute and deliver, and take any other required actions with respect to, such instruments, agreements and other documents, as agent and attorney-in-fact, in the name of and for or on behalf of the Adviser, the Portfolios and/or the Fund as Sub-adviser determines are necessary in connection with the investment and reinvestment of the assets of the Portfolios and the performance of its other services and obligations under this Agreement. Unless otherwise expressly provided or authorized by this Agreement or otherwise, the Sub-adviser shall for all purposes herein be deemed to be an independent contractor and shall have no authority to act for or represent the Fund in any way or otherwise be deemed an agent of the Fund.
