Common use of Duties of the Sub-Adviser Clause in Contracts

Duties of the Sub-Adviser. Subject to supervision by the Adviser and the Trust’s Board of Trustees, the Sub-Adviser shall manage all of the securities and other assets of each Fund entrusted to it hereunder (the “Assets”), including the purchase, retention and disposition of the Assets, in accordance with the Fund’s investment objectives, policies and restrictions as stated in each Fund’s prospectus and statement of additional information, as currently in effect and as amended or supplemented from time to time (referred to collectively as the “Prospectus”), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision by the Adviser and the Trust’s 's Board of Trustees, the Sub-Adviser shall manage all of the securities and other assets of each the Fund entrusted to it hereunder (the “"Assets”"), including the purchase, retention and disposition of the Assets, in accordance with the Fund’s 's investment objectives, policies and restrictions as stated in each the Fund’s 's prospectus and statement of additional information, as currently in effect and as amended or supplemented from time to time (referred to collectively as the “"Prospectus”"), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision by the Adviser and the Trust’s Board of Trustees, the Sub-Adviser shall manage all of the securities and other assets of each the Fund entrusted to it hereunder (the “Assets”), including the purchase, retention and disposition of the Assets, in accordance with the Fund’s investment objectives, policies and restrictions as stated in each the Fund’s prospectus and statement of additional information, as currently in effect and as amended or supplemented from time to time (referred to collectively as the “Prospectus”), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision by the Adviser and the Trust’s 's Board of Trustees, the Sub-Adviser shall manage all of the securities and other assets of each Fund the Portfolio entrusted to it hereunder (the “"Assets”"), including the purchase, retention and disposition of the Assets, in accordance with the Fund’s Portfolio's investment objectives, policies and restrictions as stated in each Fund’s the Portfolio's prospectus and statement of additional information, as currently in effect and as amended or supplemented from time to time (referred to collectively as the “"Prospectus”"), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision by the Adviser and the Trust’s Board of Trustees, the Sub-Adviser shall manage all of the securities and other assets of each Fund entrusted to it hereunder (the “Assets”), including by recommending the purchase, retention and disposition of the Assets, in accordance with the Fund’s investment objectives, policies and restrictions as stated in each Fund’s prospectus and statement of additional information, as currently in effect and as amended or supplemented from time to time (referred to collectively as the “Prospectus”), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision by the Adviser and the Trust’s 's Board of Trustees, the Sub-Adviser shall manage all of the securities and other those assets of each a Fund entrusted that the Adviser determines to it hereunder allocate to the Sub-Adviser (the “"Allocated Assets”"), including the purchase, retention and disposition of the Allocated Assets, in accordance with the each Fund’s 's investment objectives, policies and restrictions as stated in each the Fund’s 's prospectus and statement of additional information, as currently in effect and as amended or supplemented from time to time (referred to collectively as the “"Prospectus”"), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision and oversight by the Adviser and the Trust’s Board of Trustees, the Sub-Adviser shall manage all of the securities and other assets of each the Fund entrusted to it hereunder (the “Assets”), including the purchase, retention and disposition of the Assets, in accordance with the Fund’s investment objectives, policies and restrictions as stated in each the Fund’s prospectus and statement of additional information, as currently in effect and as amended or supplemented from time to time (referred to collectively as the “Prospectus”), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision by the Adviser and the Trust’s Trusts Board of Trustees, the Sub-Adviser shall manage all of the securities and other assets of each Fund entrusted to it hereunder (the “Assets”), including the purchase, retention and disposition of the Assets, in accordance with the Fund’s Funds investment objectives, policies and restrictions as stated in each Fund’s Funds prospectus and statement of additional information, as currently in effect and as amended or supplemented from time to time (referred to collectively as the “Prospectus”), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision by the Adviser and the Trust’s 's Board of Trustees, the Sub-Adviser shall manage all of the securities and other assets of each Fund entrusted to it hereunder (the “"Assets”"), including the purchase, retention and disposition of the Assets, in accordance with the Fund’s 's investment objectives, policies and restrictions as stated in each Fund’s 's prospectus and statement of additional information, as currently in effect and as amended or supplemented from time to time (referred to collectively as the “"Prospectus”"), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision and oversight by the Adviser and the Trust’s Board of Trustees, the Sub-Adviser shall manage all that portion of the securities and other assets of each the Fund entrusted to it hereunder (the “Assets”), including the purchase, retention and disposition of the Assets, in accordance with the Fund’s investment objectives, policies and restrictions as stated in each the Fund’s prospectus and statement of additional information, as currently in effect and as amended or supplemented from time to time (referred to collectively as the “Prospectus”), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision by the Adviser and the Trust’s 's Board of Trustees, the Sub-Adviser shall manage all of the securities and other assets of each Fund the Funds entrusted to it hereunder (the “"Assets”"), including the purchase, retention and disposition of the Assets, in accordance with the each Fund’s 's investment objectives, policies and restrictions as stated in each a Fund’s 's prospectus and statement of additional information, as currently in effect and as amended or supplemented from time to time (referred to collectively as the “a "Prospectus”"), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision by the Adviser and the Trust’s 's Board of Trustees, the Sub-Adviser shall manage all of the securities and other assets of each Fund the Funds entrusted to it hereunder (the “"Assets”"), including the purchase, retention and disposition of the Assets, in accordance with the Fund’s 's investment objectives, policies and restrictions as stated in each the Fund’s 's prospectus and statement of additional information, as currently in effect and as amended or supplemented from time to time (referred to collectively as the “"Prospectus”"), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision by the Adviser and the Trust’s Board of Trustees, the Sub-Adviser shall manage all of the securities and other assets of each the Fund entrusted to it hereunder (the “Assets”), including the purchase, retention and disposition of the Assets, in accordance with the Fund’s investment objectives, policies and restrictions as stated in each the Fund’s prospectus and statement of additional information, as currently in effect and as amended or supplemented from time to time (referred to collectively as the “Prospectus”), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision and oversight by the Adviser and the TrustFund’s Board of Trustees, the Sub-Adviser shall manage all of the securities and other assets of each the Fund entrusted to it by the Adviser hereunder (the “Assets”), including the purchase, retention and disposition of the Assets, in accordance with the Fund’s investment objectivesobjective, policies and restrictions as stated in each the Fund’s prospectus and prospectus, statement of additional information, as currently in effect and as amended or supplemented from time to time (referred to collectively as the “Prospectus”), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision and oversight by the Adviser and the Trust’s Board of Trustees, the Sub-Adviser shall manage all of the securities and other assets of each the Fund entrusted to it by the Adviser hereunder (the “Assets”), including the purchase, retention and disposition of the Assets, in accordance with the Fund’s investment objectivesobjective, policies and restrictions as stated in each the Fund’s prospectus and statement of additional information, as currently in effect and as amended or supplemented from time to time (referred to collectively as the “Prospectus”), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision and oversight by the Adviser and the TrustFund’s Board of TrusteesDirectors, the Sub-Adviser shall manage all of the securities and other assets of each the Fund entrusted to it by the Adviser hereunder (the “Assets”), including the purchase, retention and disposition of the Assets, in accordance with the Fund’s investment objectivesobjective, policies and restrictions as stated in each the Fund’s prospectus and prospectus, statement of additional information, as currently in effect and as amended or supplemented from time to time (referred to collectively as the “Prospectus”), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision by the Adviser and the Trust’s Board of Trustees, the Sub-Adviser shall manage all that portion of the securities and other assets of each a Fund entrusted to it hereunder (the “Assets”), including the purchase, retention and disposition of the Assets, Assets in accordance with the Fund’s investment objectives, policies policies, and restrictions as stated in each the Fund’s then current prospectus and statement of additional information, as currently in effect and as may be amended or supplemented from time to time (referred to collectively as the “Prospectus”), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision and oversight by the Adviser and the TrustFund’s Board of TrusteesDirectors, the Sub-Adviser shall manage all of the securities and other assets of each the Fund entrusted to it by the Adviser hereunder (the “Assets”), including the purchase, retention and disposition of the Assets, in accordance with the Fund’s investment objectivesobjective, policies and restrictions as stated in each the Fund’s prospectus and statement of additional information, as currently in effect and as amended or supplemented from time to time (referred to collectively as the “Prospectus”), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision by the Adviser and the Trust’s Fund's Board of TrusteesDirectors, the Sub-Adviser shall manage all of the securities and other assets of each Fund the Series entrusted to it hereunder (the “"Assets”"), including the purchase, retention and disposition of the Assets, in accordance with the Fund’s Series' investment objectives, policies and restrictions as stated in each Fund’s the Series' prospectus and statement of additional information, as currently in effect and as amended or supplemented from time to time (referred to collectively as the “"Prospectus”"), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision and oversight by the Adviser and the Trust’s Board of Trustees, the Sub-Adviser shall manage all of the securities and other assets of each the Fund entrusted to it by the Adviser hereunder (the “Assets”), including the purchase, retention and disposition of the Assets, in accordance with the Fund’s investment objectivesobjective(s), policies and restrictions as stated in each the Fund’s prospectus and statement of additional information, as currently in effect and as amended or supplemented from time to time (referred to collectively as the “Prospectus”), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision by the Adviser and the Trust’s 's Board of Trustees, the Sub-Adviser shall manage all of the securities and other assets of each Fund the Funds entrusted to it hereunder (the “"Assets”"), including the purchase, retention and disposition of the Assets, in accordance with the each Fund’s 's investment objectives, policies and restrictions as stated in each Fund’s prospectus the Funds' prospectuses and statement of additional information, as currently in effect and as amended or supplemented from time to time (referred to collectively as the “Prospectus”"Prospectuses"), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision by the Adviser and the Trust’s Board of Trustees, the Sub-Adviser shall manage all of the securities and other assets of each Fund entrusted to it hereunder (the “Assets”), including the purchase, retention and disposition of the Assets, in accordance with the each Fund’s investment objectives, policies and restrictions as stated in each Fund’s prospectus and statement of additional information, as currently in effect and as amended or supplemented from time to time (referred to collectively as the “Prospectus”), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision by the Adviser and the Trust’s Board of Trustees, the Sub-Adviser shall manage all of the securities and other assets of each the Fund entrusted to it hereunder (the “Assets”), including the purchase, retention and disposition of the Assets, in accordance with the Fund’s investment objectives, policies and restrictions as stated in each the Fund’s prospectus and statement of additional information, as currently in effect and as amended or supplemented from time to time and provided to the Sub-Adviser (referred to collectively as the “Prospectus”), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision by the Adviser and the Trust’s 's Board of Trustees, the Sub-Adviser shall manage all of the securities and other assets of each the Fund entrusted to it hereunder (the “"Assets”"), including the purchase, retention and disposition of the Assets, in accordance with the Fund’s 's investment objectives, policies and restrictions as stated in each the Fund’s 's prospectus and statement of additional information, as currently in effect and as amended or supplemented from time to time (in the form delivered pursuant to Section 3(c), referred to collectively as the “"Prospectus”"), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision and oversight by the Adviser and the TrustCorporation’s Board of TrusteesDirectors, the Sub-Adviser shall manage all of the securities and other assets of each the Fund entrusted to it hereunder (the “Assets”), including the purchase, retention and disposition of the Assets, in accordance with the Fund’s investment objectives, policies and restrictions as stated in each the Fund’s prospectus and statement of additional information, as currently in effect and as amended or supplemented from time to time (referred to collectively as the “Prospectus”), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision and oversight by the Adviser and the Trust’s Corporation's Board of TrusteesDirectors, the Sub-Adviser shall manage all of the securities and other assets of each the Fund entrusted to it hereunder (the “"Assets”"), including the purchase, retention and disposition of the Assets, in accordance with the Fund’s 's investment objectives, policies and restrictions as stated in each the Fund’s 's prospectus and statement of additional information, as currently in effect and as amended or supplemented from time to time (referred to collectively as the “"Prospectus”"), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision by the Adviser and the Trust’s Board of Trustees, the Sub-Adviser shall manage all of the securities and other assets of each the Fund entrusted to it hereunder (the “Assets”), including ) by recommending the purchase, retention and disposition of the Assets, in accordance with the Fund’s investment objectives, policies and restrictions as stated in each the Fund’s prospectus and statement of additional information, as currently in effect and as amended or supplemented from time to time (referred to collectively as the “Prospectus”), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision by the Adviser and the Trust’s 's Board of Trustees, the Sub-Adviser shall manage all of the securities and other assets of each Fund entrusted to it hereunder (the “"Assets”"), including the purchase, retention and disposition of the Assets, in accordance with the each Fund’s 's investment objectives, policies and restrictions as stated in each Fund’s 's prospectus and statement of additional information, as currently in effect and as amended or supplemented from time to time (referred to collectively as the “"Prospectus”"), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision by the Adviser ------------------------- and the Trust’s 's Board of Trustees, the Sub-Adviser shall manage all of the securities and other assets of each the Fund entrusted to it hereunder (the “"Assets”"), including the purchase, retention and disposition of the Assets, in accordance with the Fund’s 's investment objectives, policies and restrictions as stated in each the Fund’s 's prospectus and statement of additional information, as currently in effect and as amended or supplemented from time to time (referred to collectively as the “"Prospectus”"), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision by the Adviser and the TrustFund’s Board of TrusteesDirectors (the “Board), the Sub-Adviser shall manage all the investment operations of the securities Portfolio and other assets the composition of each Fund entrusted to it hereunder (the “Assets”)Portfolio, including the purchase, retention and disposition of the Assetssecurities and other assets, in accordance with the FundPortfolio’s investment objectives, policies and restrictions as stated in each Fundthe Portfolio’s prospectus and statement of additional information, as currently in effect and as amended or supplemented from time to time (referred to collectively as the “Prospectus”), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision by the Adviser and the Trust’s 's Board of Trustees, the Sub-Adviser shall manage all of the securities and other assets of each the Fund entrusted to it hereunder (the “"Assets”"), including the purchase, retention and disposition of the Assets, in accordance with the Fund’s 's investment objectives, policies and restrictions as stated in each the Fund’s 's prospectus and statement of additional information, as currently in effect and as amended or supplemented from time to time (referred to collectively as the “"Prospectus”"), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision by the Adviser and the Trust’s 's Board of Trustees, the Sub-Adviser shall manage all of the securities and other assets of each Fund entrusted to it hereunder (the “"Assets”"), including by recommending the purchase, retention and disposition of the Assets, in accordance with the Fund’s 's investment objectives, policies and restrictions as stated in each Fund’s 's prospectus and statement of additional information, as currently in effect and as amended or supplemented from time to time (referred to collectively as the “"Prospectus”"), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision by the Adviser and the Trust’s 's Board of Trustees, the Sub-Adviser shall manage all of the securities and other assets of each Fund the Portfolios entrusted to it hereunder (the “"Assets”"), including the purchase, retention and disposition of the Assets, in accordance with the Fund’s each Portfolio's investment objectives, policies and restrictions as stated in each Fund’s the Portfolio's prospectus and statement of additional information, as currently in effect and as amended or supplemented from time to time (referred to collectively as the “"Prospectus”"), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision by the Adviser and the Trust’s 's Board of Trustees, the Sub-Adviser shall manage all of the securities and other assets of each Fund the Funds entrusted to it hereunder (the “"Assets”"), including the purchase, retention and disposition of the Assets, in accordance with the each Fund’s 's investment objectives, policies and restrictions as stated in each Fund’s the Funds' prospectus and statement of additional information, as currently in effect and as amended or supplemented from time to time (referred to collectively as the “"Prospectus”"), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision by the Adviser and the Trust’s Board of Trustees, the Sub-Adviser shall manage all of the securities and other assets of each Fund entrusted to it hereunder (the “Assets”), including the purchase, retention and disposition of the Assets, in accordance with the Fund’s investment objectives, policies and restrictions as stated in each Fund’s prospectus and statement of additional information, as currently in effect and as amended or supplemented from time to time (provided that such amendments and supplements have been provided to the Sub-Adviser) (referred to collectively as the “Prospectus”), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision by the Adviser and the Trust’s Board of Trustees, the Sub-Adviser shall manage all of the securities and other assets of each a Fund entrusted to it hereunder (the “Assets”), including the purchase, retention and disposition of the Assets, in accordance with the each Fund’s investment objectives, policies and restrictions as stated in each the Fund’s prospectus and statement of additional information, as currently in effect and as amended or supplemented from time to time (referred to collectively as the “Prospectus”), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision by the Adviser and the Trust’s Board of TrusteesBoard, the Sub-Adviser shall manage all of the securities and other assets of each the Fund entrusted to it hereunder (the “Assets”), including the purchase, retention and disposition of the Assets, in accordance with the Fund’s investment objectives, policies and restrictions as stated in each the Fund’s prospectus and statement of additional information, as currently in effect and as amended or supplemented from time to time (referred to collectively as the “Prospectus”), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision by the Adviser and the Trust’s Board of Trustees, the Sub-Adviser shall manage all of the securities and other assets of each a Fund entrusted to it hereunder (the “Assets”), including the purchase, retention and disposition of the Assets, in accordance with the Fund’s investment objectives, policies and restrictions as stated in each the Fund’s prospectus and statement of additional information, as currently in effect and as amended or supplemented from time to time (referred to collectively as the “Prospectus”), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision by the Adviser and the Trust’s 's Board of Trustees, the Sub-Adviser shall manage all of the securities and other assets of each Fund the Portfolio entrusted to it hereunder (the “"Assets”"), including the purchase, retention and disposition of the Assets, in accordance with the Fund’s Portfolio's investment objectivesobjective, policies and restrictions as stated in each Fund’s the Portfolio's prospectus and statement of additional information, as currently in effect and as amended or supplemented from time to time (referred to collectively as the “"Prospectus”"), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision by the Adviser and the Trust’s 's Board of Trustees, the Sub-Adviser shall manage all of the securities and other assets of each the Fund entrusted to it hereunder (the “"Assets”"), including the purchase, retention and disposition of the Assets, in accordance with the Fund’s 's investment objectives, policies and restrictions as stated in each Schedule A attached hereto and in the Fund’s 's prospectus and statement of additional information, as currently in effect and as amended or supplemented from time to time and provided to the Sub-Adviser (referred to collectively as the “"Prospectus”"), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision by the Adviser and the Trust’s Board of Trustees, the Sub-Adviser shall manage all of the securities and other assets of each Fund entrusted to it hereunder (the “Assets”), including the purchase, retention and disposition of the Assets, in accordance with the Fund’s investment objectives, policies and restrictions as stated in each Fund’s prospectus and statement of additional information, except as set forth in the written instructions and directions of the Adviser, as currently in effect and as amended or supplemented from time to time and, in each case, as previously provided to Sub-Adviser (referred to collectively as the “Prospectus”), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision by the Adviser and the Trust’s Board of Trustees, the Sub-Adviser shall manage all the portion of the securities and other assets of each Fund entrusted to it hereunder Fund’s portfolio designated by the Adviser (the “AssetsAllocated Portion”), including the purchase, retention and disposition of securities and other assets held in the AssetsAllocated Portion, in accordance with the Fund’s investment objectives, policies and restrictions as stated in each the Fund’s prospectus and statement of additional information, as currently in effect and as amended or supplemented from time to time (referred to collectively as the “Prospectus”), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision by the Adviser and the Trust’s 's Board of Trustees, the Sub-Adviser shall manage all of the securities and other assets of each the Fund entrusted to it hereunder (the “"Assets”"), including the purchase, retention and disposition of the Assets, in accordance with the Fund’s 's investment objectives, policies and restrictions as stated in each the Fund’s 's prospectus and statement of additional information, as currently in effect and as amended or supplemented from time to time (referred in the form delivered pursuant to Section 3(c),referred to collectively as the “"Prospectus”"), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision by the Adviser and the Trust’s Board of Trustees, the Sub-Adviser shall manage all that portion of the securities and other assets of each the Fund entrusted to it hereunder (the “Assets”), including the purchase, retention and disposition of the Assets, Assets in accordance with the Fund’s investment objectives, policies policies, and restrictions as stated in each the Fund’s then current prospectus and statement of additional information, as currently in effect and as may be amended or supplemented from time to time (referred to collectively as the “Prospectus”), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision by the Adviser and the Trust’s Board of Trustees, the Sub-Adviser shall manage all of the securities and other those assets of each a Fund entrusted that the Adviser determines to it hereunder allocate to the Sub-Adviser (the “Allocated Assets”), including the purchase, retention and disposition of the Allocated Assets, in accordance with the each Fund’s investment objectives, policies and restrictions as stated in each the Fund’s prospectus and statement of additional information, as currently in effect and as amended or supplemented from time to time (referred to collectively as the “Prospectus”), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision by the Adviser and the Trust’s 's Board of Trustees, the Sub-Adviser shall manage all of the securities and other assets of each the Fund entrusted to it hereunder (the “"Assets”"), including the purchase, retention and disposition of the Assets, in accordance with the Fund’s 's investment objectives, policies and restrictions as stated in each a Fund’s 's prospectus and statement of additional information, as currently in effect and as amended or supplemented from time to time (referred to collectively as the “"Prospectus”"), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision by the Adviser and the Trust’s 's Board of Trustees, the Sub-Adviser shall manage all of the securities and other assets of each Fund the Funds entrusted to it hereunder (the “"Assets”"), including the purchase, retention and disposition of the Assets, in accordance with the each Fund’s 's investment objectives, policies and restrictions as stated in each Fund’s 's prospectus and statement of additional information, as currently in effect and as amended or supplemented from time to time (referred to collectively as the “"Prospectus”"), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision by the Adviser and the Trust’s Board of Trustees, the Sub-Adviser shall manage all of the securities and other assets of each the Fund entrusted to it hereunder (the “Assets”), including the purchase, retention and disposition of the Assets, in accordance with the Fund’s investment objectives, policies and restrictions as stated in each the Fund’s prospectus and statement of additional information, as currently in effect as of the date hereof and as amended or supplemented from time to time and furnished to the Sub-Adviser (referred to collectively as the “Prospectus”), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision by the Adviser and the Trust’s 's Board of Trustees, the Sub-Adviser shall manage all the portion of the securities and other assets of each Fund the Portfolio entrusted to it hereunder (the “"Assets”"), including the purchase, retention and disposition of the Assets, in accordance with the Fund’s Portfolio's investment objectives, policies and restrictions as stated in each Fund’s the Portfolio's prospectus and statement of additional information, as currently in effect and as amended or supplemented from time to time (referred to collectively as the “"Prospectus”"), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision by and oversight of the Adviser and the Trust’s Board Board, and in accordance with the terms and conditions of Trusteesthis Agreement, the Sub-Adviser shall manage all of the securities and other assets of each Fund the Funds entrusted to it hereunder (the “Assets”), including the purchase, retention and disposition of the Assets, in accordance with the each Fund’s respective investment objectives, guidelines, policies and restrictions as stated in each Fund’s prospectus and statement of additional information, as currently in effect and as amended or supplemented from time to time (referred to collectively as collectively, the “Prospectus”), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision by the Adviser and the Trust’s Board of Trustees, the Sub-Adviser shall manage all of the securities and other assets of each the Fund entrusted to it hereunder (the “Assets”), including the purchase, retention and disposition of the Assets, in accordance with the Fund’s investment objectives, policies and restrictions as stated in each the Fund’s prospectus and statement of additional information, as currently in effect and as amended or supplemented from time to time and delivered to the Sub-Adviser (referred to collectively as the “Prospectus”), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision and oversight by the Adviser and the Trust’s Board of Trustees, the Sub-Adviser shall manage all of the securities and other assets of each Fund the Funds entrusted to it by the Adviser hereunder (the “Assets”), including the purchase, retention and disposition of the Assets, in accordance with the each Fund’s investment objectivesobjective(s), policies and restrictions as stated in each Fund’s prospectus and statement of additional information, as currently in effect and as amended or supplemented from time to time (referred to collectively as the “Prospectus”), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision by the Adviser and the Trust’s 's Board of Trustees, the Sub-Adviser shall manage all of the securities and other assets of each a Fund entrusted to it hereunder (the “"Assets”"), including the purchase, retention and disposition of the Assets, in accordance with the each Fund’s 's investment objectives, policies and restrictions as stated in each the Fund’s 's prospectus and statement of additional information, as currently in effect and as amended or supplemented from time to time (referred to collectively as the “"Prospectus”"), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision and oversight by the Adviser and the Trust’s Board of Trustees, the Sub-Adviser shall manage all that portion of the securities and other assets of each the Fund entrusted to it hereunder (the “Assets”), including the purchase, retention and disposition of the Assets, in accordance with the Fund’s investment objectives, policies and restrictions as stated in each Fund’s prospectus the Prospectus and statement of additional information, as currently in effect and as amended or supplemented from time to time (referred to collectively as the “Prospectus”), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision by the Adviser and the Trust’s 's Board of Trustees, the Sub-Adviser shall manage all of the securities and other assets of each Fund the Portfolio entrusted to it hereunder (the “"Assets”"), including the purchase, retention and disposition of the Assets, in accordance with the Fund’s Portfolio's investment objectives, policies and restrictions as stated in each Fund’s the Portfolio's prospectus and statement of additional information, information as currently in effect and as amended or supplemented from time to time (referred to collectively as the “"Prospectus”"), and subject to the following:

Duties of the Sub-Adviser. Subject to general supervision by the Adviser and the Trust’s 's Board of Trustees, the Sub-Adviser shall manage the investment of all of the securities and other assets of each the Fund entrusted to it hereunder (the “"Assets”), ") including the purchase, retention and disposition of the Assets, in accordance with the Fund’s 's investment objectives, policies and restrictions as stated in each the Fund’s 's prospectus and statement of additional information, as currently in effect and as amended or supplemented from time to time (referred to collectively as the “"Prospectus”"), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision by the Adviser and the Trust’s Board of Trustees, the Sub-Adviser shall manage all of the securities and other assets of each the Fund entrusted to it hereunder (the “Assets”), including the purchase, retention and disposition of the Assets, in accordance with the Fund’s investment objectives, policies and restrictions as stated in each the Fund’s prospectus and statement of additional information, as currently in effect and as amended or supplemented from time to time and communicated in writing to the Sub-Adviser (referred to collectively as the “Prospectus”), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision by the Adviser and the Trust’s Board of Trustees, the Sub-Adviser shall manage all of the securities and other assets of each Fund entrusted to it hereunder (the “Assets”), including the purchase, retention and disposition of the Assets, in accordance with the Fund’s investment objectives, policies and restrictions as stated in each Fund’s prospectus and statement of additional information, as currently in effect and as amended or supplemented from time to time and communicated in writing to the Sub-Adviser (referred to collectively as the “Prospectus”), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision by the Adviser and the Trust’s Board of TrusteesBoard, the Sub-Adviser shall manage all of the securities and other assets of each Fund the Series entrusted to it hereunder (the “Assets”), including the purchase, retention and disposition of the Assets, in accordance with the Fund’s Series’ written investment objectives, policies and restrictions as stated in each Fund’s prospectus and statement of additional informationthe Series’ Private Placement Memorandum, as currently in effect and as amended or supplemented from time to time (referred to collectively as the “ProspectusPPM”), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision by the Adviser and ------------------------- the Trust’s 's Board of Trustees, the Sub-Adviser shall manage all of the securities and other assets of each the Fund entrusted to it hereunder (the “"Assets”"), including the purchase, retention and disposition of the Assets, in accordance with the Fund’s 's investment objectives, policies and restrictions as stated in each the Fund’s 's prospectus and statement of additional information, as currently in effect and as amended or supplemented from time to time (referred to collectively as the “"Prospectus”"), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision by the Adviser and the Trust’s Board of Trustees, the Sub-Adviser shall manage all of the securities and other assets of each Fund entrusted to it hereunder (the “Assets”), including the purchase, retention and disposition of the Assets, in accordance with the Fund’s investment objectives, policies and restrictions as stated in each Fund’s prospectus and statement of additional information, as currently in effect and as amended or supplemented from time to time (referred to collectively as the “Prospectus”)) as provided to the Sub-Adviser by the Adviser, and subject to the following:

Duties of the Sub-Adviser. Subject to supervision by the Adviser and the Trust’s 's Board of Trustees, the Sub-Adviser shall manage on a discretionary basis all of the securities and other assets of each the Fund entrusted to it hereunder (the “"Assets”"), including the purchase, retention and disposition of the Assets, Assets in accordance with the Fund’s 's investment objectives, policies and restrictions as stated in each the Fund’s 's prospectus and statement of additional information, as currently in effect and as amended or supplemented from time to time (together referred to collectively as the “"Prospectus”"), and subject to the following:

Duties of the Sub-Adviser. Subject to the oversight and supervision by of the Adviser and the Trust’s 's Board of TrusteesTrustees and consistent with its fiduciary duties to the Fund, the Sub-Adviser shall manage all of the securities and other assets of each the Fund entrusted to it hereunder (the “"Assets”"), including the purchase, retention and disposition of the Assets, in accordance with the Fund’s 's investment objectives, policies and restrictions as stated in each the Fund’s 's prospectus and statement of additional information, as currently in effect and as amended or supplemented from time to time and provided to the Sub- Adviser in writing (referred to collectively as the “"Prospectus”"), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision by the Adviser and the Trust’s Board of TrusteesBoard, the Sub-Adviser shall manage all of the securities and other assets of each Fund the Series entrusted to it hereunder (the “Assets”), including the purchase, retention and disposition of the Assets, in accordance with the Fund’s Series’ investment objectives, policies and restrictions as stated in each Fund’s prospectus and statement of additional informationthe Series’ Private Placement Memorandum, as currently in effect and as amended or supplemented from time to time and delivered to the Sub-Adviser (referred to collectively as the “ProspectusPPM”), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision by the Adviser and the Trust’s Board of Trustees, the Sub-Adviser shall manage all of the securities and other assets of each Fund the Funds entrusted to it hereunder (the “Assets”), including the purchase, retention and disposition of the Assets, in accordance with the each Fund’s investment objectives, policies and restrictions as stated in each Fund’s the Funds’ prospectus and statement of additional information, as currently in effect and as amended or supplemented from time to time (referred to collectively as the “Prospectus”), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision by the Adviser and the Trust’s Board of Trustees, the Sub-Adviser shall manage all of the securities and other assets of each Fund entrusted to it hereunder (the “Assets”), including the purchase, retention and disposition of the the. Assets, in accordance with the Fund’s investment objectives, policies and restrictions as stated in each Fund’s prospectus and statement of additional information, as currently in effect and as amended or supplemented from time to time (referred to collectively as the “Prospectus”), and subject to the following:

Duties of the Sub-Adviser. Subject to the oversight and supervision by of the Adviser and the Trust’s Board of TrusteesTrustees and consistent with its fiduciary duties to the Fund(s), the Sub-Adviser shall manage all of the securities and other assets of each a Fund entrusted to it hereunder (the “Assets”), including the purchase, retention and disposition of the Assets, in accordance with the Fund’s investment objectives, policies and restrictions as stated in each the Fund’s prospectus and statement of additional information, as currently in effect and as amended or supplemented from time to time and provided to the Sub-Adviser in writing (referred to collectively as the “Prospectus”), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision by the Adviser and the Trust’s 's Board of Trustees, the Sub-Adviser shall manage all of the securities and other assets of each Fund entrusted to it hereunder (the “"Assets”"), . including the purchase, retention and disposition of the Assets, in accordance with the Fund’s 's investment objectives, policies and restrictions as stated in each Fund’s 's prospectus and statement of additional information, as currently in effect and as amended or supplemented from time to time (referred to collectively as the “"Prospectus”"), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision by the Adviser and the Trust’s Board of TrusteesTrustees , the Sub-Adviser shall manage all of the securities and other assets of each Fund entrusted to it hereunder (the “Assets”), including the purchase, retention and disposition of the Assets, in accordance with the a Fund’s investment objectives, policies and restrictions as stated in each a Fund’s prospectus and statement of additional information, as currently in effect and as amended or supplemented from time to time (( referred to collectively as the “Prospectus”), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision by the Adviser and the Trust’s Board of Trustees, the Sub-Adviser shall manage all of the securities and other assets of each Fund the Portfolio entrusted to it hereunder (the “Assets”), including the purchase, retention and disposition of the Assets, in accordance with the FundPortfolio’s investment objectives, policies and restrictions as stated in each Fundthe Portfolio’s prospectus and statement of additional information, as currently in effect and as amended or supplemented from time to time (referred to collectively as the “Prospectus”), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision by the ------------------------- Adviser and the Trust’s 's Board of Trustees, the Sub-Adviser shall manage all of the securities and other assets of each the Fund entrusted to it hereunder (the “"Assets”"), including the purchase, retention and disposition of the Assets, in accordance with the Fund’s 's investment objectives, policies and restrictions as stated in each the Fund’s 's prospectus and statement of additional information, as currently in effect and as amended or supplemented from time to time (referred to collectively as the “"Prospectus”"), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision by the Adviser and the Trust’s 's Board of Trustees, the Sub-Adviser shall manage all of the securities and other assets of each Fund entrusted to it hereunder (the “"Assets”"), including the purchase, retention and disposition of the Assets, in accordance with the Fund’s 's investment objectives, policies and restrictions as stated in each Fund’s 's prospectus and statement of additional information, as currently in effect and as amended or supplemented from time to time (referred to collectively as the “asthe "Prospectus”"), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision by the Adviser and the Trust’s 's Board of Trustees, the Sub-Adviser shall on manage all of the securities and other assets of each the Fund entrusted to it hereunder (the “"Assets”"), including the purchase, retention and disposition of the Assets, in accordance with the Fund’s 's investment objectives, policies and restrictions as stated in each the Fund’s 's prospectus and statement of additional information, as currently in effect and as amended or supplemented from time to time (referred to collectively as the “"Prospectus”"), and subject to the following:

Duties of the Sub-Adviser. Subject to the oversight and supervision by of the Adviser and the Trust’s Board of TrusteesTrustees and consistent with its fiduciary duties to the Fund, the Sub-Adviser shall manage all of the securities and other assets of each the Fund entrusted to it hereunder (the “Assets”), including the purchase, retention and disposition of the Assets, in accordance with the Fund’s investment objectives, policies and restrictions as stated in each the Fund’s prospectus and statement of additional information, as currently in effect and as amended or supplemented from time to time and provided to the Sub-Adviser in writing (referred to collectively as the “Prospectus”), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision by the Adviser and the Trust’s 's Board of Trustees, the Sub-Adviser shall manage all of the securities and other assets of each the Fund entrusted to it hereunder (the “"Assets”"), including the purchase, retention and disposition of the Assets, in accordance with the Fund’s 's investment objectives, policies and restrictions as stated in each the Fund’s 's prospectus and statement of additional information, as currently in effect and as amended or supplemented from time to time (referred to collectively as the “"Prospectus”"), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision by the Adviser and the Trust’s Board of Trustees, the Sub-Adviser shall manage all of the securities and other assets of each Fund entrusted to it hereunder (the “Assets”), including the purchase, retention and disposition of the Assets, in accordance with the each Fund’s investment objectives, policies and restrictions as stated in each Fund’s respective prospectus and statement of additional information, as currently in effect and as amended or supplemented from time to time (referred to collectively as the “Prospectus”), and any additional investment guidelines as described in sub-paragraph (a) subject to the following:

Duties of the Sub-Adviser. Subject to supervision by the Adviser and the Trust’s Board of Trustees, the Sub-Adviser shall manage all that portion of the securities and other assets of each a Fund entrusted allocated to it hereunder (the “Assets”) and maintained in a distinct separate account (“Sub-Account”), including the purchase, retention and disposition of the Assets, Assets in accordance with the Fund’s investment objectives, policies policies, and restrictions as stated in each the Fund’s then current prospectus and statement of additional information, as currently in effect and as may be amended or supplemented from time to time (referred to collectively as the “Prospectus”), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision by the Adviser and the Trust’s 's Board of Trustees, the Sub-Adviser shall manage all of the securities and other assets of each the Fund entrusted to it hereunder by the Adviser (the “"Assets”"), including the purchase, retention and disposition of the Assets, in accordance with the Fund’s 's investment objectives, policies and restrictions as stated in each the Fund’s 's prospectus and statement of additional information, as currently in effect and as amended or supplemented from time to time (referred to collectively as the “"Prospectus”"), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision by the Adviser and the Trust’s Trusts Board of Trustees, the Sub-Adviser shall manage all of the securities and other assets of each Fund entrusted provide advice with respect to it hereunder (the “Assets”), including the purchase, retention and disposition of the assets of the Fund (the Assets), in accordance with the Fund’s Funds investment objectives, policies and restrictions as stated in each Fund’s Funds prospectus and statement of additional information, as currently in effect and as amended or supplemented from time to time (referred to collectively as the “Prospectus”), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision by the Adviser and the Trust’s Board of Trustees, the Sub-Adviser shall manage all of the securities and other assets of each Fund the Funds entrusted to it hereunder (the “Assets”), including the purchase, retention and disposition of the Assets, in accordance with the Fund’s investment objectives, policies and restrictions as stated in each the Fund’s prospectus and statement of additional information, as currently in effect and as amended or supplemented from time to time (referred to collectively as the “Prospectus”), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision by the Adviser and the Trust’s Board of Trustees, the Sub-Adviser shall manage all of the securities and other assets of each Fund the Funds entrusted to it hereunder (the “Assets”), including the purchase, retention and disposition of the Assets, in accordance with the each Fund’s investment objectives, policies and restrictions as stated in each Fund’s prospectus the Funds’ prospectuses and statement statements of additional information, as currently in effect and as amended or supplemented from time to time (referred to collectively as the “ProspectusProspectuses”), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision by the Adviser and the Trust’s Trusts Board of Trustees, the Sub-Adviser shall manage all of the securities and other assets of each Fund entrusted to it hereunder (the “Assets”), including by recommending the purchase, retention and disposition of the Assets, in accordance with the Fund’s Funds investment objectives, policies and restrictions as stated in each Fund’s Funds prospectus and statement of additional information, as currently in effect and as amended or supplemented from time to time (referred to collectively as the “Prospectus”), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision and oversight by the Adviser and the TrustCorporation’s Board of TrusteesDirectors, the Sub-Adviser shall manage all of the securities and other assets of each the Fund entrusted to it by the Adviser hereunder (the “Assets”), including the purchase, retention and disposition of the Assets, in accordance with the Fund’s investment objectivesobjective, policies and restrictions as stated in each the Fund’s prospectus prospectus, and statement of additional information, as currently in effect and as amended or supplemented from time to time (referred to collectively as the “Prospectus”), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision by the Adviser and the Trust’s 's Board of Trustees, the Sub-Adviser shall manage all of the securities and other assets of each Fund Portfolio entrusted to it hereunder (the “"Assets”"), including the purchase, retention and disposition of the Assets, in accordance with the Fund’s each Portfolio's investment objectives, policies and restrictions as stated in each Fund’s Portfolio's prospectus and statement of additional information, as currently in effect and as amended or supplemented from time to time (referred to collectively as the “"Prospectus”"), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision by the Adviser and the Trust’s Board of Trustees, the Sub-Adviser shall manage all of the securities and other assets of each the Fund entrusted to it hereunder (the “Assets”), ) including the purchase, retention and disposition of the Assets, in accordance with the Fund’s investment objectives, policies and restrictions as stated in each the Fund’s prospectus and statement of additional information, as currently in effect and as amended or supplemented from time to time (referred to collectively as the “Prospectus”), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision by the Adviser and the Trust’s Board of Trustees, the Sub-Adviser shall manage all of the securities and other assets of each the Fund entrusted to it hereunder (the “Assets”), including the purchase, ,’ retention and disposition of the Assets, in accordance with the Fund’s investment objectives, policies and restrictions as stated in each the Fund’s prospectus and statement of additional information, as currently in effect and as amended or supplemented from time to time (referred to collectively as the “Prospectus”), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision by the Adviser and the Trust’s 's Board of Trustees, the Sub-Adviser shall manage all of the securities and other assets of each Fund the Funds entrusted to it hereunder (the “"Assets”"), including the purchase, retention and disposition of the Assets, in accordance with the Fund’s Funds' investment objectives, policies and restrictions as stated in each Fund’s the Funds' prospectus and statement of additional information, as currently in effect and as amended or supplemented from time to time (referred to collectively as the “"Prospectus”"), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision by the Adviser and the Trust’s Board of Trustees, the Sub-Adviser shall manage all of the securities and other assets of each the Fund entrusted to it hereunder (the “Assets”), including the purchase, retention and disposition of the Assets, in accordance with the Fund’s investment objectives, policies and restrictions as stated in each a Fund’s prospectus and statement of additional information, as currently in effect and as amended or supplemented from time to time (referred to collectively as the “Prospectus”), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision and oversight by the Adviser and the Trust’s Board of Trustees, the Sub-Adviser shall manage all that portion of the securities and other assets of each the Fund entrusted to it hereunder (the “Assets”), including the purchase, retention and disposition of the Assets, in accordance with the Fund’s investment objectives, policies and restrictions as stated in each the Fund’s prospectus and statement of additional information, as currently in effect and as amended or supplemented from time to time (referred to collectively as the “Prospectus”), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision and oversight by the Adviser and the Trust’s Corporation's Board of TrusteesDirectors, the Sub-Adviser shall manage all of the securities and other assets of each Fund entrusted to it by the Adviser hereunder (the “"Assets”"), including the purchase, retention and disposition of the Assets, in accordance with the Fund’s 's investment objectivesobjective(s), policies and restrictions as stated in each the Fund’s 's prospectus and statement of additional information, as currently in effect and as amended or supplemented from time to time (referred to collectively as the “"Prospectus”"), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision by the Adviser and the Trust’s Trusts Board of Trustees, the Sub-Adviser shall manage all of the securities and other assets of each Fund the Portfolio entrusted to it hereunder (the “Assets”), including the purchase, retention and disposition of the Assets, in accordance with the Fund’s Portfolios investment objectives, policies and restrictions as stated in each Fund’s the Portfolios prospectus and statement of additional information, as currently in effect and as amended or supplemented from time to time (referred to collectively as the “Prospectus”), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision and oversight by the Adviser and the TrustFund’s Board of Trustees, the Sub-Adviser shall manage all of the securities and other assets of each the Fund entrusted to it hereunder (the “Assets”), including the purchase, retention and disposition of the Assets, in accordance with the Fund’s investment objectives, policies and restrictions as stated in each the Fund’s prospectus and statement of additional information, as currently in effect and as amended or supplemented from time to time (referred to collectively as the “Prospectus”), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision by the Adviser and ------------------------- the Trust’s Fund's Board of Trustees, the Sub-Adviser shall manage all such portion of the securities and other assets of each the Fund entrusted to it hereunder (the “"Assets”"), including the purchase, retention and disposition of the Assets, in accordance with the Fund’s 's investment objectives, policies and restrictions as stated in each the Fund’s 's prospectus and statement of additional information, as currently in effect and as amended or supplemented from time to time (referred to collectively as the “"Prospectus”"), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision by the Adviser and the Trust’s Board of Trustees, . the Sub-Adviser shall manage all of the securities and other assets of each Fund entrusted provide advice with respect to it hereunder (the “Assets”), including the purchase, retention and disposition of the assets of the Fund (the “Assets”), in accordance with the Fund’s investment objectives, policies and restrictions as stated in each Fund’s prospectus and statement of additional information, as currently in effect and as amended or supplemented from time to time (referred to collectively as the “Prospectus”), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision by the Adviser and the Trust’s 's Board of Trustees, the Sub-Adviser shall manage all of the securities and other assets of each the Fund entrusted to it hereunder (the “"Assets”), ") including the purchase, retention and disposition of the Assets, in accordance with the Fund’s 's investment objectives, policies and restrictions as stated in each the Fund’s 's prospectus and statement of additional information, as currently in effect and as amended or supplemented from time to time (referred to collectively as the “"Prospectus”"), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision by the Adviser and the Trust’s Board of TrusteesBoard, the Sub-Adviser shall manage all of the securities and other assets of each Fund the Series entrusted to it hereunder (the “Assets”), including the purchase, retention and disposition of the Assets, in accordance with the Fund’s Series’ investment objectives, policies and restrictions as stated in each Fund’s prospectus and statement of additional informationthe Series’ Private Placement Memorandum, as currently in effect and as amended or supplemented from time to time (referred to collectively as the “ProspectusPPM”), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision and oversight by the Adviser and the Trust’s Board of TrusteesDirectors, the Sub-Adviser shall manage all that portion of the securities and other assets of each the Fund entrusted to it by the Adviser hereunder (the “Assets”), including the purchase, retention and disposition of the Assets, in accordance with the Fund’s investment objectivesobjective, policies and restrictions as stated in each the Fund’s prospectus and statement of additional information, as currently in effect and as amended or supplemented from time to time (referred to collectively as the “Prospectus”), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision by the Adviser and the Trust’s Board of Trustees, the Sub-Adviser shall manage all of the securities and other assets of each the Fund entrusted to it hereunder (the “Assets”), including the purchase, retention and disposition digposition of the Assets, in accordance with the Fund’s investment objectives, policies and restrictions as stated in each the Fund’s prospectus and statement of additional information, as currently in effect and as amended or supplemented from time to time (referred to collectively as the “Prospectus”), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision by the Adviser and the Trust’s 's Board of Trustees, the Sub-Adviser shall manage all of the securities and other assets of each Fund the Portfolio entrusted to it hereunder (the “Assets”AAssets@), including the purchase, retention and disposition of the Assets, in accordance with the Fund’s Portfolio's investment objectivesobjective, policies and restrictions as stated in each Fund’s the Portfolio's prospectus and statement of additional information, as currently in effect and as amended or supplemented from time to time (referred to collectively as the “"Prospectus”"), and subject to the following:

Duties of the Sub-Adviser. Subject to supervision by the Adviser and the Trust’s Trusts Board of Trustees, the Sub-Adviser shall manage all of the securities and other those assets of each a Fund entrusted that the Adviser determines to it hereunder allocate to the Sub-Adviser (the “Allocated Assets”), including the purchase, retention and disposition of the Allocated Assets, in accordance with the Fund’s each Funds investment objectives, policies and restrictions as stated in each Fund’s the Funds prospectus and statement of additional information, as currently in effect and as amended or supplemented from time to time (referred to collectively as the “Prospectus”), and subject to the following: