Common use of EMPLOYMENT OF THE ADMINISTRATOR Clause in Contracts

EMPLOYMENT OF THE ADMINISTRATOR. The Trust hereby employs the Administrator to administer the affairs of the Funds subject to the direction of the Board of Trustees and the officers of the Trust, for the period and on the terms hereinafter set forth. The Administrator hereby accepts such employment and agrees during such period to render the services and to assume the obligations herein set forth for the compensation herein provided. The Administrator shall for all purposes herein be deemed to be an independent contractor and, except as expressly provided or authorized (whether herein or otherwise), shall have no authority to act for or represent the Funds in any way or otherwise be deemed an agent of the Funds. Absent written notification to the contrary by the Trust or the Administrator, each new investment portfolio established in the future by the Trust shall automatically become a "Fund" for all purposes hereunder as if listed on Schedule A.

EMPLOYMENT OF THE ADMINISTRATOR. The Trust hereby employs the Administrator to administer the affairs of the Funds subject to the direction of the Board of Trustees and the officers of the Trust, for the period and on the terms hereinafter set forth. The Administrator hereby accepts such employment and agrees during such period to render the services and to assume the obligations herein set forth for the compensation herein provided. The Administrator shall for all purposes herein be deemed to be an independent contractor and, except as expressly provided or authorized (whether herein or otherwise), shall have no authority to act for or represent the Funds in any way or otherwise be deemed an agent of the Funds. Absent written notification to the contrary by the Trust or the Administrator, each new investment portfolio established in the future by the Trust shall automatically become a "“Fund" ” for all purposes hereunder as if listed on Schedule A.