Common use of EFFECTIVE PERIOD; TERMINATION AND AMENDMENT OF THIS AGREEMENT Clause in Contracts

EFFECTIVE PERIOD; TERMINATION AND AMENDMENT OF THIS AGREEMENT. (a) This Agreement shall become effective upon its execution, and shall remain in full force and effect continuously thereafter (unless terminated automatically as set forth in Section 4) until terminated as set forth below. Termination of this Agreement pursuant to this Section 5 shall be without the payment of any penalty. (b) This Agreement shall continue in effect for a period of more than two years from the date hereof only so long as continuance is specifically approved at least annually in conformance with the 1940 Act; provided, however, that this Agreement may be terminated at any time: (i) by the Board of Trustees of the Trust or by the vote of a majority of the outstanding voting securities of the Fund; (ii) by the Adviser on 60 days' written notice to the Sub-Adviser; or (iii) by the Sub-Adviser on 60 days' written notice to the Adviser. (c) No amendment to this Agreement shall be effective unless (i) there is written consent of the parties to this Agreement and (ii) the amendment is approved in a manner consistent with the 1940 Act as interpreted or permitted by the U.S. Securities and Exchange Commission ("SEC") and/or its staff.

EFFECTIVE PERIOD; TERMINATION AND AMENDMENT OF THIS AGREEMENT. (a) This Agreement shall become effective upon its execution, and shall remain in full force and effect continuously thereafter (unless terminated automatically as set forth in Section 4) until terminated as set forth below. Termination of this Agreement pursuant to this Section 5 shall be without the payment of any penalty. (b) This Agreement shall continue in effect for a period of more than two years from the date hereof only so long as continuance is specifically approved at least annually in conformance with the 1940 Act; provided, however, that this Agreement may be terminated at any time: (i) by the Board of Trustees of the Trust or by the vote of a majority of the outstanding voting securities of the Fund; (ii) by the Adviser on 60 days' ’ written notice to the Sub-Adviser; or (iii) by the Sub-Adviser on 60 days' ’ written notice to the Adviser. (c) No amendment to this Agreement shall be effective unless (i) there is written consent of the parties to this Agreement and (ii) the amendment is approved in a manner consistent with the 1940 Act as interpreted or permitted by the U.S. Securities and Exchange Commission ("“SEC"”) and/or its staff.

EFFECTIVE PERIOD; TERMINATION AND AMENDMENT OF THIS AGREEMENT. (a) This Agreement shall become effective upon its execution, and shall remain in full force and effect continuously thereafter (unless terminated automatically as set forth in Section 4) until terminated as set forth below. Termination of this Agreement pursuant to this Section 5 shall be without the payment of any penalty. (b) This Agreement shall continue in effect for a period of more than two years from the date hereof only so long as continuance is specifically approved at least annually in conformance with the 1940 Act; provided, however, that this Agreement may be terminated at any time: (i) by the Board of Trustees of the Trust or by the vote of a majority of the outstanding voting securities of the Fund; (ii) by the Adviser on 60 days' written notice to the Sub-Adviser; or (iii) by the Sub-Adviser on 60 days' written notice to the Adviser. (c) This Agreement shall automatically terminate, without the payment of any penalty, in the event of its assignment or in the event that the investment advisory contract between the Fund and the Adviser shall have terminated. (d) No amendment to this Agreement shall be effective unless (i) there is written consent of the parties to this Agreement and (ii) the amendment is approved in a manner consistent with the 1940 Act as interpreted or permitted by the U.S. Securities and Exchange Commission ("SEC") and/or its staff.

EFFECTIVE PERIOD; TERMINATION AND AMENDMENT OF THIS AGREEMENT. (a) This Agreement shall become effective upon its execution, and shall remain in full force and effect continuously thereafter (unless terminated automatically as set forth in Section 4) until terminated as set forth below. Termination of this Agreement pursuant to this Section 5 shall be without the payment of any penalty. (b) This Agreement shall continue in effect for a period of more than two years from the date hereof only so long as continuance is specifically approved at least annually in conformance with by the Board of Trustees or by the vote of a majority of the outstanding voting securities of the Fund as required by the 1940 Act; provided, however, that this Agreement may be terminated at any time: (i) by the Board of Trustees of the Trust or by the vote of a majority of the outstanding voting securities of the Fund; (ii) by the Adviser on 60 days' written notice to the Sub-Adviser; or (iii) by the Sub-Adviser on 60 days' written notice to the Adviser. (c) No amendment to this Agreement shall be effective unless (i) there is written consent of the parties to this Agreement and (ii) the amendment is approved in a manner consistent with the 1940 Act as interpreted or permitted by the U.S. Securities and Exchange Commission ("SEC") and/or its staff.

EFFECTIVE PERIOD; TERMINATION AND AMENDMENT OF THIS AGREEMENT. (a) This Agreement shall become effective upon its execution, and shall remain in full force and effect continuously thereafter (unless terminated automatically as set forth in Section 45) until terminated as set forth below. Termination of this Agreement pursuant to this Section 5 6 shall be without the payment of any penalty. (b) This Agreement shall continue in effect for a period of more than two years from the date hereof only so long as continuance is specifically approved at least annually in conformance with the 1940 Act; provided, however, that this Agreement may be terminated at any time: (i) by the Board Fund upon 30 days’ notice by the vote of a majority of Trustees of the Trust or by the vote of a majority of the outstanding voting securities of the Fund; (ii) by the Adviser on 60 days' ’ written notice to the Sub-Adviser; or (iii) by the Sub-Adviser on 60 days' ’ written notice to the Adviser. (c) No amendment to this Agreement shall be effective unless (i) there is written consent of the parties to this Agreement and (ii) the amendment is approved in a manner consistent with the 1940 Act as interpreted or permitted by the U.S. Securities and Exchange Commission ("SEC") SEC and/or its staff.

EFFECTIVE PERIOD; TERMINATION AND AMENDMENT OF THIS AGREEMENT. (a) This Agreement shall become effective upon its execution, and shall remain in full force and effect continuously thereafter (unless terminated automatically as set forth in Section 4) until terminated as set forth below. Termination of this Agreement pursuant to this Section 5 shall be without the payment of any penalty. (b) This Agreement shall continue in effect for a period of more than two years from the date hereof only so long as continuance is specifically approved at least annually in conformance with the 1940 Act; provided, however, that this Agreement may be terminated at any time: (i) by the Board of Trustees of the Trust or by the vote of a majority of the outstanding voting securities of the Fund; (ii) by the Adviser on 60 days' ’ written notice to the Sub-Adviser; or (iii) by the Sub-Adviser on 60 days' ’ written notice to the Adviser. (c) This Agreement shall automatically terminate, without the payment of any penalty, in the event of its assignment or in the event that the investment advisory contract between the Fund and the Adviser shall have terminated. (d) No amendment to this Agreement shall be effective unless (i) there is written consent of the parties to this Agreement and (ii) the amendment is approved in a manner consistent with the 1940 Act as interpreted or permitted by the U.S. Securities and Exchange Commission ("“SEC"”) and/or its staff.

EFFECTIVE PERIOD; TERMINATION AND AMENDMENT OF THIS AGREEMENT. (a) This Agreement shall become effective upon its execution, and shall remain in full force and effect continuously thereafter (unless terminated automatically as set forth in Section 4) until terminated as set forth below. Termination of this Agreement pursuant to this Section 5 shall be without the payment of any penalty. (b) This Agreement shall continue in effect for a period of more than two years from the date hereof only so long as continuance is specifically approved at least annually in conformance with the 1940 Act; provided, however, that this Agreement may be terminated at any time: (i) by the Board Fund at any time by the vote of a majority of Trustees of the Trust or by the vote of a majority of the outstanding voting securities of the Fund; (ii) by the Adviser on 60 days' ’ written notice to the Sub-Adviser; or (iii) by the Sub-Adviser on 60 days' ’ written notice to the Adviser. (c) No amendment to this Agreement shall be effective unless (i) there is written consent of the parties to this Agreement and (ii) the amendment is approved in a manner consistent with the 1940 Act as interpreted or permitted by the U.S. Securities and Exchange Commission ("SEC") SEC and/or its staff.

EFFECTIVE PERIOD; TERMINATION AND AMENDMENT OF THIS AGREEMENT. (a) This Agreement shall become effective upon its execution, and shall remain in full force and effect continuously thereafter (unless terminated automatically as set forth in Section 45) until terminated as set forth below. Termination of this Agreement pursuant to this Section 5 6 shall be without the payment of any penalty. (b) This Agreement shall continue in effect for a period of more than two years from the date hereof only so long as continuance is specifically approved at least annually in conformance with the 1940 Act; provided, however, that this Agreement may be terminated at any time: (i) by the Board Fund upon 30 days' notice by the vote of a majority of Trustees of the Trust or by the vote of a majority of the outstanding voting securities of the Fund; (ii) by the Adviser on 60 days' written notice to the Sub-Adviser; or (iii) by the Sub-Adviser on 60 days' written notice to the Adviser. (c) No amendment to this Agreement shall be effective unless (i) there is written consent of the parties to this Agreement and (ii) the amendment is approved in a manner consistent with the 1940 Act as interpreted or permitted by the U.S. Securities and Exchange Commission ("SEC") SEC and/or its staff.

EFFECTIVE PERIOD; TERMINATION AND AMENDMENT OF THIS AGREEMENT. (a) This Agreement shall become effective upon its execution, and shall remain in full force and effect continuously thereafter (unless terminated automatically as set forth in Section 4) until terminated as set forth below. Termination of this Agreement pursuant to this Section 5 shall be without the payment of any penalty. (b) This Agreement shall continue in effect for a period of more than two years from the date hereof only so long as continuance is specifically approved at least annually in conformance with the 1940 Act; provided, however, that this Agreement may be terminated at any time: (i) by the Board of Trustees of the Trust or by the vote of a majority of the outstanding voting securities of the Fund; (ii) by the Adviser on 60 days' written notice to the Sub-Adviser; or (iii) by the Sub-Adviser on 60 days' written notice to the Adviser. (c) No amendment to this Agreement shall be effective unless (i) there is written consent of the parties to this Agreement and (ii) the amendment is approved in a manner consistent with the 1940 Act as interpreted or permitted by the U.S. Securities and Exchange Commission ("SEC") SEC and/or its staff.

EFFECTIVE PERIOD; TERMINATION AND AMENDMENT OF THIS AGREEMENT. (a) This Agreement shall become effective upon its execution, and shall remain in full force and effect continuously thereafter (unless terminated automatically as set forth in Section 4) until terminated as set forth below. Termination of this Agreement pursuant to this Section 5 shall be without the payment of any penalty. (b) This Agreement shall continue in effect for a period of more than two years from the date hereof only so long as continuance is specifically approved at least annually in conformance with the 1940 Act; provided, however, that this Agreement may be terminated at any time: (i) by the Board of Trustees of the Trust or by the vote of a majority of the outstanding voting securities of the Fund; (ii) by the Adviser on 60 days' written notice to the Sub-Adviser; or (iii) by the Sub-Adviser on 60 days' written notice to the Adviser. (c) No amendment to this Agreement shall be effective unless (i) there is written consent of the parties to this Agreement and (ii) the amendment is approved in a manner maimer consistent with the 1940 Act as interpreted or permitted by the U.S. Securities and Exchange Commission ("SEC") and/or its staff.

EFFECTIVE PERIOD; TERMINATION AND AMENDMENT OF THIS AGREEMENT. (a) This Agreement shall become effective upon its executionas of the date first written above, and shall remain in full force and effect continuously thereafter (unless terminated automatically as set forth in Section 4) until terminated as set forth below. Termination This Agreement shall automatically terminate in the event of this Agreement pursuant to this Section 5 shall be without its assignment or in the payment event of any penaltytermination of the Investment Management Agreement. (b) This Agreement shall continue in irr effect for a period of more than two years from the date hereof only so long as continuance is specifically approved at least annually in conformance with by the Board of Trustees or by the vote of a majority of the outstanding voting securities of the Fund as required by the 1940 Act; provided, however, that this Agreement may be terminated at any timetime without the payment of any penalty: (i) by the Board of Trustees of the Trust or by the vote of a majority of the outstanding voting securities of the Fund; (ii) by the Adviser on 60 days' written notice to the Sub-Adviser; or (iii) by the Sub-Adviser on 60 days' written notice to the Adviser. (c) No amendment to this Agreement shall be effective unless (i) there is written consent of the parties to this Agreement and (ii) the amendment is approved in a manner consistent with the 1940 Act as interpreted or permitted by the U.S. Securities and Exchange Commission ("SEC") and/or its staff.

EFFECTIVE PERIOD; TERMINATION AND AMENDMENT OF THIS AGREEMENT. (a) This Agreement shall become effective upon its execution, and shall remain in full force and effect continuously thereafter (unless terminated automatically as set forth in Section 4) 4 until terminated as set forth below. Termination of this Agreement pursuant to this Section 5 shall be without the payment of any penalty. (b) This Agreement shall continue in effect for a period of more than two years from the date hereof only so long as continuance is specifically approved at least annually in conformance with the 1940 Act; provided, however, that this Agreement may be terminated at any time: (i) by the Board of Trustees of the Trust or by the vote of a majority of the outstanding voting securities of the Fund; (ii) by the Adviser on 60 days' ’ written notice to the Sub-Adviser; or (iii) by the Sub-Adviser on 60 days' ’ written notice to the Adviser. (c) No amendment to this Agreement shall be effective unless (i) there is written consent of the parties to this Agreement and (ii) the amendment is approved in a manner consistent with the 1940 Act as interpreted or permitted by the U.S. Securities and Exchange Commission ("“SEC"”) and/or its staff.

EFFECTIVE PERIOD; TERMINATION AND AMENDMENT OF THIS AGREEMENT. (a) This Agreement shall become effective upon its execution, and shall remain in full force and effect continuously thereafter (unless terminated automatically as set forth in Section 4) until terminated as set forth below. Termination of this Agreement pursuant to this Section 5 shall be without the payment of any penalty. (b) This Agreement shall continue in effect for a period of more than two years from the date hereof only so long as continuance is specifically approved at least annually in conformance with the 1940 Act; provided, however, that this Agreement may be terminated at any time: (i) by the Board of Trustees of the Trust or by the vote of a majority of the outstanding voting securities of the Fund; (ii) by the Adviser on 60 days' written notice to the Sub-Adviser; or (iii) by the Sub-Adviser on 60 days' written notice to the Adviser. (c) No amendment to this Agreement shall be effective unless (i) there is written consent of the parties to this Agreement and (ii) the amendment is approved in a manner consistent with the 1940 Act as interpreted or permitted by the U.S. Securities and Exchange Exchange. Commission ("SEC") and/or its staff.