Common use of Employment of Management Company Clause in Contracts

Employment of Management Company. The Fund hereby employs the Management Company to act as investment adviser to the Initial Series with respect to the investment of its assets, and to supervise and arrange the purchase of securities for the Initial Series and the sale of securities held in the portfolio of the Initial Series, subject always to the supervision of the board of directors of the Fund (or a duly appointed committee thereof), during the period and upon and subject to the terms and conditions herein set forth. The Management Company hereby accepts such employment and agrees to perform the services required by this Agreement for the compensation herein provided. In the event the Company establishes one or more series other than the Initial Series with respect to which it desires to retain the Management Company to render investment advisory services hereunder, it shall notify the Management Company in writing. If the Management Company is willing to render such services it shall notify the Company in writing, whereupon such series shall become a Series subject to the terms and conditions hereunder, and to such amended or additional provisions as shall be specifically agreed to by the Company and the Management Company in accordance with applicable law.

Employment of Management Company. The Fund hereby employs the Management Company to act as investment adviser to the Initial Series with respect to the investment of its assets, and to supervise and arrange the purchase of securities for the Initial Series and the sale of securities held in the portfolio of the Initial Series, subject always to the supervision of the board of directors of the Fund (or a duly appointed committee thereof), during the period and upon and subject to the terms and conditions herein set forth. The Management Company hereby accepts such employment and agrees to perform the services required by this Agreement for the compensation herein provided. In the event the Company Fund establishes one or more series other than the Initial Series with respect to which it desires to retain the Management Company to render investment advisory services hereunder, it shall notify the Management Company in writing. If the Management Company is willing to render such services it shall notify the Company Fund in writing, whereupon such series shall become a Series subject to the terms and conditions hereunder, and to such amended or additional provisions as shall be specifically agreed to by the Company Fund and the Management Company in accordance with applicable law.