Common use of Employment of Adviser Clause in Contracts

Employment of Adviser. (a) The Trust hereby employs the Adviser, and the Adviser hereby accepts such employment, to render investment advice and investment management services with respect to the assets of the Fund, consistent with the investment objectives and policies of the Fund and subject to the supervision and direction of the Trust's Board of Trustees. The Adviser shall, except as otherwise provided for herein, render or make available all administrative services needed for the management and operation of the Fund, and shall, as part of its duties hereunder, (i) furnish the Trust with investment advice, research and recommendations with respect to the investment of the Fund's assets and the purchase and sale of its portfolio securities, including the taking of such other steps as may be necessary to implement such advice and recommendations, (ii) furnish the Trust and Fund with reports, statements and other data on securities, economic conditions and other pertinent subjects which the Trust's Board of Trustees may request, (iii) furnish such office space and personnel as are needed by the Fund, and (iv) in general superintend and manage the investments of the Fund, subject to the ultimate supervision and direction of the Trust's Board of Trustees. (b) The Adviser shall determine the securities to be purchased or sold by the Fund and will place orders pursuant to its determinations with or through such persons, brokers or dealers (including without limitation Xxxxxxxxx, Xxxxxxxx & Company LLC) in conformity with the policy with respect to brokerage as set forth in the Trust's Registration Statement and the Fund's Prospectus and Statement of Additional Information or as the Trustees may direct from time to time. The Adviser shall not execute portfolio transactions for the account of the Fund with a broker or dealer which is an "affiliated person" (as defined in the Act) of the Adviser or the Trust, except pursuant to procedures adopted by the Trustees in accordance with Section 17(e) and Rule l7e-1 under the Act. The Adviser shall render regular reports to the Trustees of the total brokerage business placed and the manner in which the allocation has been accomplished.

Employment of Adviser. (a) The Trust hereby employs the Adviser, and the Adviser hereby accepts such employment, to render investment advice and investment management services with respect to the assets of the Fund, consistent with the investment objectives and policies of the Fund and subject to the supervision and direction of the Trust's Board of Trustees. The Adviser shall, except as otherwise provided for herein, render or make available all administrative services needed for the management and operation of the Fund, and shall, as part of its duties hereunder, hereunder (i) furnish the Trust with investment advice, research and recommendations with respect to the investment of the Fund's assets and the purchase and sale of its portfolio securities, including the taking of such other steps as may be necessary to implement such advice and recommendations, (ii) furnish the Trust and Fund with reports, statements and other data on securities, economic conditions and other pertinent subjects which the Trust's Board of Trustees may request, (iii) furnish such office space and personnel as are needed by the Fund, and (iv) in general superintend and manage the investments of the Fund, subject to the ultimate supervision and direction of the Trust's Board of Trustees. (b) The Adviser shall determine the securities to be purchased or sold by the Fund and will place orders pursuant to its determinations with or through such persons, brokers or dealers (including including, without limitation limitation, Xxxxxxxxx, Xxxxxxxx & Company LLC) in conformity with the policy with respect to brokerage as set forth in the Trust's Registration Statement and the Fund's Prospectus and Statement of Additional Information Information, or as the Trustees may otherwise direct from time to time. The Adviser shall not execute portfolio transactions for the account of the Fund with a broker or dealer which is an "affiliated person" (as defined in the Act) of the Adviser or the Trust, or with an affiliated person of such a person, except pursuant to procedures adopted by the Trustees in accordance with Section 17(e) and Rule l7e-1 17e-1 under the Act. The Adviser shall render regular reports to the Trustees of the total brokerage business placed and the manner in which the allocation has been accomplished. (c) In all matters relating to the performance of this Agreement, the Adviser will act in conformity with the Trust's Declaration of Trust, By-Laws and Registration Statement, the Fund's current Prospectus and Statement of Additional Information and all procedures adopted by the Trust's Board of Trustees from time to time, and will conform to and comply with all applicable requirements of the Investment Company Act of 1940, as amended, the rules and regulations thereunder, and all other applicable Federal or state laws and regulations.

Employment of Adviser. (a) The Trust hereby employs the Adviser, and the Adviser hereby accepts such employment, to render investment advice and investment management services with respect to the assets of the Fund, consistent with the investment objectives and policies of the Fund and subject to the supervision and direction of the Trust's Board of Trustees. The Adviser shall, except as otherwise provided for herein, render or make available all administrative services needed for the management and operation of the Fund, and shall, as part of its duties hereunder, (i) furnish the Trust with investment advice, research and recommendations with respect to the investment of the Fund's assets and the purchase and sale of its portfolio securities, including the taking of such other steps as may be necessary to implement such advice and recommendations, (ii) furnish the Trust and Fund with reports, statements and other data on securities, economic conditions and other pertinent subjects which the Trust's Board of Trustees may request, (iii) furnish such office space and personnel as are needed by the Fund, and (iv) in general superintend and manage the investments of the Fund, subject to the ultimate supervision and direction of the Trust's Board of Trustees. (b) The Adviser shall determine the securities to be purchased or sold by the Fund and will place orders pursuant to its determinations with or through such persons, brokers or dealers (including without limitation Xxxxxxxxx, Xxxxxxxx & Company LLC) in conformity with the policy with respect to brokerage as set forth in the Trust's Registration Statement and the Fund's Prospectus and Statement of Additional Information or as the Trustees may direct from time to time. The Adviser shall not execute portfolio transactions for the account of the Fund with a broker or dealer which is an "affiliated person" (as defined in the Act) of the Adviser or the Trust, except pursuant to procedures adopted by the Trustees in accordance with Section 17(e) and Rule l7e-1 17e-1 under the Act. The Adviser shall render regular reports to the Trustees of the total brokerage business placed and the manner in which the allocation has been accomplished.

Employment of Adviser. (a) The Trust hereby employs the Adviser, and the Adviser hereby accepts such employment, to render investment advice and investment management services with respect to the assets of the Fund, consistent with the investment objectives and policies of the Fund and subject to the supervision and direction of the Trust's Board of Trustees. The Adviser shall, except as otherwise provided for herein, render or make available all administrative services needed for the management and operation of the Fund, and shall, as part of its duties hereunder, (i) furnish the Trust with investment advice, research and recommendations with respect to the investment of the Fund's assets and the purchase and sale of its portfolio securities, including the taking of such other steps as may be necessary to implement such advice and recommendations, (ii) furnish the Trust and Fund with reports, statements and other data on securities, economic conditions and other pertinent subjects which the Trust's Board of Trustees may request, (iii) furnish such office space and personnel as are needed by the Fund, and (iv) in general superintend and manage the investments of the Fund, subject to the ultimate supervision super-vision and direction of the Trust's Board of Trustees. (b) The Adviser shall determine the securities to be purchased or sold by the Fund and will place orders pursuant to its determinations with or through such persons, brokers or dealers (including without limitation Xxxxxxxxx, Xxxxxxxx & Company LLC) in conformity with the policy with respect to brokerage as set forth in the Trust's Registration Statement and the Fund's Prospectus and Statement of Additional Information or as the Trustees may direct from time to time. The Adviser shall not execute portfolio transactions for the account of the Fund with a broker or dealer which is an "affiliated person" (as defined in the Act) of the Adviser or the Trust, except pursuant to procedures adopted by the Trustees in accordance with Section 17(e) and Rule l7e-1 17e-1 under the Act. The Adviser shall render regular reports to the Trustees of the total brokerage business placed and the manner in which the allocation has been accomplished.