Engagement and Obligations of Sub-Advisor. The Advisor hereby appoints and retains the Sub-Advisor to act as a sub-advisor to the Advisor and to provide the following services for the period and on the terms and conditions set forth in this Agreement.
Engagement and Obligations of Sub-Advisor. Subject to the general supervision of the Trustees and the Advisor, the Sub-Advisor shall, employing its discretion, manage the investment operations of the Fund and the composition of the portfolio of securities and investments (including cash) belonging to the Fund, including the purchase, retention and disposition thereof, in accordance with all applicable laws and regulations, any policies and procedures established by the Trust or the Adviser, and the Fund's investment objective, policies and restrictions as stated in the Fund's then-current Prospectus and Statement of Additional Information or any similar offering documents of the Fund (together, the "Prospectus") and subject to the following understandings:
