Common use of Independent Contractor Clause in Contracts

Independent Contractor. The Sub-Adviser shall for all purposes herein be deemed to be an independent contractor and shall, unless otherwise expressly provided or authorized, have no authority to act for or be deemed an agent of the Fund.

Independent Contractor. The Sub-Adviser Advisor shall for all purposes herein be deemed to be an independent contractor and shall, unless otherwise expressly provided or authorized, have no authority to act for or be deemed an agent of the Fund.

Independent Contractor. The Sub-Adviser shall for all purposes herein be deemed to be an independent contractor and shall, unless otherwise expressly provided or authorized, have no authority to act for or be deemed an agent of the a Fund.

Independent Contractor. The Sub-Adviser shall for all purposes herein be deemed to be an independent contractor and shall, unless otherwise expressly provided or authorized, have no authority to act for or be deemed an agent of the Fund.;

Independent Contractor. The Sub-Adviser shall for all purposes herein be deemed to be an independent contractor and shall, unless otherwise expressly provided or authorizedauthorized in this Agreement or another writing by the Trust or Adviser to the Sub-Adviser, have no authority to act for or be deemed an agent of the Trust or the Fund in any way, or in any way be deemed an agent for the Trust or for the Fund.

Independent Contractor. The Sub-Adviser shall for all purposes herein be deemed to will be an independent contractor and shall, unless otherwise expressly provided or authorized, will not have no authority to act for or represent the Trust or Adviser in any way or otherwise be deemed an agent of the FundTrust or Adviser, except as expressly authorized in this Agreement or another writing signed by the Adviser.

Independent Contractor. The Sub-Adviser shall for all purposes herein be deemed to be an independent contractor and shall, unless otherwise expressly provided or authorizedauthorized in this Agreement or another writing by the Trust or Adviser to the Sub-Adviser, have no authority to act for or be deemed an agent of the Trust of the Fund in any way, or in any way be deemed an agent for the Trust or for the Fund.

Independent Contractor. The In the performance of its duties hereunder, the Sub-Adviser adviser is and shall for all purposes herein be deemed to be an independent contractor and shalland, unless otherwise expressly provided herein or authorizedotherwise authorized in writing, shall have no authority to act for or represent the Fund or TAM in any way or otherwise be deemed to be an agent of the FundFund or TAM.

Independent Contractor. The Sub-Adviser shall Advisor shall, for all purposes herein herein, be deemed to be an independent contractor contractor, and shall, unless otherwise expressly provided or authorizedand authorized to do so, have no authority to act for or represent the Company or the Advisor in any way, or in any way be deemed an agent of for the FundAdvisor or the Company.

Independent Contractor. The Sub-Adviser shall Advisor shall, for all purposes herein herein, be deemed to be an independent contractor contractor, and shall, unless otherwise expressly provided and authorized to do so herein or authorizedin a separate writing, have no authority to act for or represent the Advisor, the Trust or the Fund in any way, or in any way be deemed an agent of the Advisor, the Trust or the Fund.

Independent Contractor. The Sub-Adviser Advisor shall for all purposes herein be deemed to be an independent contractor and shall, unless otherwise expressly provided or authorized, have no authority to act for or be deemed an agent of the FundFunds.

Independent Contractor. The Sub-Adviser Advisor shall for all purposes herein be deemed to be an independent contractor and shall, unless otherwise except to the extent expressly provided or authorizedauthorized by the Advisor or the Board of Trustees of the Trust (the “Board of Trustees”), have no authority to act for or be deemed an agent of the Fund.

Independent Contractor. The Sub-Adviser shall for all purposes herein be deemed to be an independent contractor and shall, unless otherwise expressly provided herein or authorizedauthorized by the Board of Trustees of the Trust from time to time, have no authority to act for or represent a Fund in any way or otherwise be deemed an agent of the a Fund.

Independent Contractor. The In the performance of its duties hereunder, the Sub-Adviser is and shall for all purposes herein be deemed to be an independent contractor and shalland, unless otherwise expressly provided herein or authorizedotherwise authorized in writing, shall have no authority to act for or represent a Fund, the Company or the Adviser in any way or otherwise be deemed an agent of a Fund, the FundCompany or the Adviser.

Independent Contractor. The Sub-Adviser Advisor shall for all purposes herein be deemed to be an independent contractor and shallunder this Agreement and, unless otherwise expressly provided or authorized, shall have no authority to act for or represent the Fund in any way or otherwise be deemed an as agent of the Fund.

Independent Contractor. The Sub-Adviser shall for all purposes herein be deemed to be an independent contractor and shall, unless otherwise expressly provided or authorized, have no authority to act for or represent the Adviser, the Trust or the Portfolio or otherwise be deemed an agent agents of the FundAdviser, the Trust or the Portfolio.

Independent Contractor. The Sub-Adviser shall Advisor shall, for all purposes herein herein, be deemed to be an independent contractor contractor, and shall, unless otherwise expressly provided and authorized to do so herein or authorizedin a separate writing, have no authority to act for or represent the Advisor, the Trust or the Funds in any way, or in any way be deemed an agent of the FundAdvisor, the Trust or the Funds.

Independent Contractor. The Sub-Adviser shall will for all purposes herein be deemed to be an independent contractor and shallwill, unless otherwise expressly provided herein or authorizedauthorized by the Board and the Adviser from time to time, have no authority to act for or represent the Company in any way or otherwise be deemed an agent of the FundCompany.

Independent Contractor. The In the performance of its services hereunder, the Sub-Adviser is and shall for all purposes herein be deemed to be an independent contractor and shall, unless otherwise expressly provided herein or authorizedotherwise authorized in writing, shall have no authority to act for or represent the Fund, the Fund or the Manager in any way or otherwise be deemed an agent of the Fund, the Fund or the Manager.

Independent Contractor. The Sub-Adviser adviser shall for all purposes herein be deemed to be an independent contractor and shall, unless otherwise expressly provided or authorizedauthorized in this Agreement or another writing by the Trust or Adviser to the Sub-adviser, have no authority to act for or be deemed an agent of the Trust or the Fund in any way, or in any way be deemed an agent for the Trust or for the Fund.

Independent Contractor. The Sub-Adviser shall for all purposes herein be deemed to be an independent contractor and shall, unless otherwise expressly provided or authorizedauthorized in this Agreement or another writing by the Trust or Adviser to the Sub-Adviser, have no authority to act for or be deemed an agent of the FundTrust or the Funds in any way, or in any way be deemed an agent for the Trust or for the Funds.

Independent Contractor. The Sub-Adviser shall for all purposes herein be deemed to be an independent contractor and shall, unless otherwise expressly provided herein or authorizedauthorized by the Board of Trustees of the Company from time to time, have no authority to act for or represent a Fund in any way or otherwise be deemed an agent of the a Fund.

Independent Contractor. The Sub-Adviser shall for all purposes herein be deemed to be an independent contractor and shallunder this Agreement and, unless otherwise expressly provided or authorized, shall have no authority to act for or represent the Manager, the Trust or a Fund in any way or otherwise be deemed an as agent of the Manager, the Trust or a Fund.

Independent Contractor. The Sub-Adviser shall for all purposes herein be deemed to will be an independent contractor and shall, unless otherwise expressly provided or authorized, will have no authority to act for or represent the Trust, the Fund or K2 in any way, including in any litigation or administrative proceeding involving the Fund or any security or investment held by the Fund, or otherwise be deemed an agent of the FundTrust, the Fund or K2, except as expressly authorized in this Agreement or another writing by the Trust, the Fund or K2.

Independent Contractor. The Sub-Adviser shall for all purposes herein be deemed to be an independent contractor and shall, unless otherwise expressly provided herein or authorizedauthorized by the Board of Trustees of the Company from time to time, have no authority to act for or represent the Fund in any way or otherwise be deemed an agent of the Fund.

Independent Contractor. The Sub-Adviser shall for all purposes herein be deemed to be an independent contractor and shall, unless otherwise expressly provided herein or authorizedauthorized by the Board from time to time, have no authority to act for or represent a Fund in any way or otherwise be deemed an agent of the such Fund.

Independent Contractor. The Sub-Adviser shall for all purposes herein be deemed to be an independent contractor and shall, unless otherwise expressly provided or authorized, have no authority to act for or represent the Adviser, the Trust or the Fund or otherwise be deemed an agent agents of the Adviser, the Trust or the Fund.

Independent Contractor. The Sub-Adviser shall for all purposes herein be deemed to be an independent contractor and shall, unless otherwise expressly provided herein or authorizedauthorized by the Board of Trustees of the Company from time to time, have no authority to act for or represent a Fund in any way or otherwise be deemed an agent of the Fund.

Independent Contractor. The Sub-Adviser adviser shall for all purposes herein be deemed to be an independent contractor and shall, unless otherwise expressly provided herein or authorizedauthorized by the Board from time to time, have no authority to act for or represent a Fund in any way or otherwise be deemed an agent of the a Fund.

Independent Contractor. The Sub-Adviser Sub‑Advisor shall for all purposes herein be deemed to be an independent contractor and shall, unless otherwise expressly provided or authorized, have no authority to act for or be deemed an agent of the FundFunds.

Independent Contractor. The Sub-Adviser shall for all purposes herein be deemed to advisor will be an independent contractor in performing its duties under this Agreement and shall, unless otherwise expressly provided herein or authorizedotherwise authorized in writing, will have no authority to act for or represent the Trust, the Funds or the Advisor in any way or otherwise be deemed an agent of the FundTrust, the Funds or the Advisor.

Independent Contractor. The Sub-Adviser shall for all purposes herein be deemed to be an independent contractor and shall, unless otherwise expressly provided herein or authorizedauthorized by the Board of Trustees of the Trust from time to time, have no authority to act for or represent a Portfolio in any way or otherwise be deemed an agent of the Funda Portfolio.

Independent Contractor. The Sub-Adviser shall Advisor shall, for all purposes herein herein, be deemed to be an independent contractor contractor, and shall, unless otherwise expressly provided and authorized to do so herein or authorizedin a separate writing, have no authority to act for or represent the Advisor, the Trust or a Fund in any way, or in any way be deemed an agent of the Advisor, the Trust or a Fund.

Independent Contractor. The Sub-Adviser adviser shall for all purposes herein be deemed to be an independent contractor and shall, unless otherwise expressly provided or authorizedauthorized in this Agreement or another writing by the Fund or Adviser to the Sub-adviser, have no authority to act for or be deemed an agent of the FundFund or the Series in any way, or in any way be deemed an agent for the Fund or for the Series.

Independent Contractor. The Sub-Adviser shall Advisor shall, for all purposes herein herein, be deemed to be an independent contractor contractor, and shall, unless otherwise expressly provided or authorizedand authorized to do so, have no authority to act for or represent the Trust, the Fund, or the Advisor in any way, or in any way be deemed an agent of for the Trust, the Fund, or the Advisor.

Independent Contractor. The Sub-Adviser shall for all purposes herein be deemed to be an independent contractor and shall, unless otherwise expressly provided or authorized, have no authority to act for or represent the Adviser, the Trust or the Funds or otherwise be deemed an agent agents of the FundAdviser, the Trust or the Funds.

Independent Contractor. The Sub-Adviser shall for all purposes herein be deemed to will be an independent contractor and shall, unless otherwise expressly provided or authorized, will not have no authority to act for or represent the Trust or the Adviser in any way or otherwise be deemed an agent of the FundTrust or the Adviser, except as expressly authorized in this Agreement or another writing signed by the Adviser.

Independent Contractor. The In the performance of its services hereunder, the Sub-Adviser is and shall for all purposes herein be deemed to be an independent contractor and shall, unless otherwise expressly provided herein or authorizedotherwise authorized in writing, shall have no authority to act for or represent the Fund, the Fund or the Adviser in any way or otherwise be deemed an agent of the Fund, the Fund or the Adviser.

Independent Contractor. The Sub-Adviser shall Advisor shall, for all purposes herein herein, be deemed to be an independent contractor contractor, and shall, unless otherwise expressly provided and authorized to do so herein or authorizedin a separate writing, have no authority to act for or represent the Advisor, the Trust or the Fund in any way, or in any way be deemed an agent of for the Advisor, the Trust or the Fund.

Independent Contractor. The Sub-Adviser shall for all purposes herein be deemed to be an independent contractor and shall, unless otherwise expressly provided herein or authorizedauthorized by the Board from time to time, have no authority to act for or represent the Fund in any way or otherwise be deemed an agent of the Fund.

Independent Contractor. The Sub-Adviser shall for all purposes herein provided be deemed to be an independent contractor and shalland, unless otherwise except as expressly provided or authorizedauthorized herein or in any other agreement between the Sub-Adviser and the Company and/or the Adviser, shall have no authority to act for or represent the Company and/or the Adviser in any way or otherwise be deemed an agent of the FundCompany and/or the Adviser.

Independent Contractor. The Sub-Adviser advisor shall for all purposes herein be deemed to be an independent contractor and shall, unless otherwise expressly provided or authorizedauthorized in this Agreement or another writing by the Fund or Advisor to the Sub-advisor, have no authority to act for or be deemed an agent of the FundFund or the Series in any way, or in any way be deemed an agent for the Fund or for the Series.

Independent Contractor. The Sub-Adviser shall for all purposes herein be deemed to be an independent contractor and shall, unless otherwise expressly provided for herein or authorizedauthorized by the Board from time to time, have no authority to act for or represent the Fund in any way or otherwise be deemed an agent of the Fund.

Independent Contractor. The In the performance of its duties hereunder, the Sub-Adviser Advisor is and shall for all purposes herein be deemed to be an independent contractor and shalland, unless otherwise expressly provided herein or authorizedotherwise authorized in writing, shall have no authority to act for or represent the Fund, the Trust or the Advisor in any way or otherwise be deemed an agent of the Fund, the Trust or the Advisor.

Independent Contractor. The Sub-Adviser shall for all purposes herein be deemed to be an independent contractor and shall, unless otherwise expressly provided herein or authorizedauthorized by the Board of Directors of the Company, from time to time, have no authority to act for or represent the Fund in any way or otherwise be deemed an agent of the Fund.

Independent Contractor. The Sub-Adviser shall for all purposes herein be deemed to be an independent contractor and shall, unless otherwise expressly provided or authorized, have no authority to act for or be deemed an agent of the FundFund other than in furtherance of the Sub-Adviser’s duties and responsibilities as set forth in this Agreement.

Independent Contractor. The Sub-Adviser shall for all purposes herein be deemed to be an independent contractor and shall, unless otherwise expressly provided or authorized, have no authority to act for or be deemed an agent of the Fund.; (c)

Independent Contractor. The Sub-Adviser shall for all purposes herein be deemed to be an independent contractor and shallshall not, unless otherwise expressly provided herein or authorizedauthorized by the Trustees of the Trust from time to time, have no any authority to act for or represent the Portfolios or Trust in any way or otherwise be deemed to be an agent of the FundPortfolios or the Trust.

Independent Contractor. The In the performance of its duties hereunder, the Sub-Adviser is and shall for all purposes herein be deemed to be an independent contractor and shall, unless otherwise expressly provided herein or authorizedotherwise authorized in writing, shall have no authority to act for or represent the Fund or the Adviser in any way or otherwise be deemed an agent of the FundFund or the Adviser.

Independent Contractor. The Sub-Adviser shall will for all purposes herein be deemed to be an independent contractor and shallwill, unless otherwise expressly provided herein or authorizedauthorized by the Board of Directors and the Adviser from time to time, have no authority to act for or represent the Company in any way or otherwise be deemed an agent of the FundCompany.

Independent Contractor. The Sub-Adviser Advisor shall for all purposes herein be deemed to be an independent contractor and shall, unless otherwise expressly provided or authorized, have no authority to act for or be deemed an agent of the FundTrust.

Independent Contractor. The Sub-Adviser shall for all purposes herein be deemed to be an independent contractor and shall, unless otherwise expressly provided herein or authorizedauthorized by the Board from time to time, have no authority to act for or represent the Fund in any way or otherwise be deemed an agent of the a Fund.

Independent Contractor. The Sub-Adviser shall for all purposes herein be deemed to be an independent contractor and shallunder this Agreement and, unless otherwise expressly provided or authorized, shall have no authority to act for or represent the Adviser or the Fund in any way or otherwise be deemed an as agent of the Adviser or the Fund.

Independent Contractor. The Sub-Adviser shall for all purposes herein be deemed to be an independent contractor and shall, unless otherwise expressly provided or authorized, have no authority to act for or be deemed an agent of the FundFunds.

Independent Contractor. The Sub-Adviser Advisor shall for all purposes herein be deemed to be an independent contractor and shall, unless otherwise expressly provided herein or authorizedotherwise authorized by the Advisor, have no authority to act for or be deemed an agent of the Fund.

Independent Contractor. The Sub-Adviser shall for all purposes herein be deemed to be an independent contractor and shall, unless otherwise expressly provided or authorizedauthorized in this Agreement or another writing by the Trust or Adviser to the Sub-Adviser, have no authority to act for or be deemed an agent of the Trust of the Fund in any way, or in any way be deemed an agent for the Trust or the Fund.

Independent Contractor. The Sub-Adviser shall for all purposes herein be deemed to be an independent contractor and shall, unless otherwise expressly provided or authorizedauthorized in this Agreement or another writing by the Trust or Adviser to the Sub- Adviser, have no authority to act for or be deemed an agent of the FundTrust or of the Funds in any way, or in any way be deemed an agent for the Trust or the Funds.

Independent Contractor. The Sub-Adviser Advisor shall for all purposes herein be deemed to be an independent contractor and shall, unless otherwise expressly provided herein or authorizedauthorized by the Board of Trustees of the Trust or the Advisor from time to time, have no authority to act for or represent the Portfolio in any way or otherwise be deemed an agent of the FundPortfolio or of the Advisor.

Independent Contractor. The Sub-Adviser Advisor shall for all purposes herein be deemed to be an independent contractor and shall, unless otherwise expressly provided or authorized, have no authority to act for or be deemed an agent of the Fund. The duties set forth herein shall apply to the Sub-Advisor only with respect to the Sub-Advisor Account and unless set forth herein, the Sub-Advisor shall not be deemed to have any obligation or duty to any account of any other sub-advisor to the Fund.

Independent Contractor. The Sub-Adviser shall for all purposes herein be deemed to be an independent contractor and shall, unless otherwise expressly provided or authorizedauthorized in this Agreement or another writing by the Trust or Adviser to the Sub- Adviser, have no authority to act for or be deemed an agent of the Trust or the Fund in any way, or in any way be deemed an agent for the Trust or for the Fund.

Independent Contractor. The Sub-Adviser Advisor shall for all purposes herein be deemed to be an independent contractor and shall, unless otherwise expressly provided or authorizedauthorized herein or in a separate writing executed by the Advisor, have no authority to act for or be deemed an agent of the Fund.

Independent Contractor. The Sub-Adviser shall for all purposes herein be deemed to be an independent contractor and shall, unless otherwise expressly provided herein or authorizedauthorized by the Board of Trustees of the Trust from time to time, have no authority to act for or represent the Trust in any way or otherwise be deemed an agent of the FundTrust.

Independent Contractor. The Sub-Adviser Advisor shall for all purposes herein be deemed to be an independent contractor and shall, unless otherwise expressly provided or authorizedauthorized herein, have no authority to act for or be deemed an agent of the FundFund or the Advisor.

Independent Contractor. The In the performance of its duties hereunder, the Sub-Adviser Advisor is and shall for all purposes herein be deemed to be an independent contractor and shalland, unless otherwise expressly provided herein or authorizedotherwise authorized in writing, shall have no authority to act for or represent the Fund, or the Advisor in any way or otherwise be deemed an agent of the FundFund or the Advisor.

Independent Contractor. The Sub-Adviser Advisor shall for all purposes herein be deemed to be an independent contractor and shall, unless otherwise expressly provided herein or authorizedauthorized by the Board of Trustees of the Trust or the Advisor from time to time, have no authority to act for or represent a Fund in any way or otherwise be deemed an agent of a Fund or of the FundAdvisor.

Independent Contractor. The Sub-Adviser Advisor shall for all purposes herein be deemed to be an independent contractor and shall, unless otherwise expressly provided or authorizedauthorized by this Agreement or otherwise in writing by the Trust and the Advisor, have no authority to act for or be deemed an agent of the Trust or the Fund.

Independent Contractor. The Sub-Adviser shall for all purposes herein be deemed to be an independent contractor and shall, unless otherwise expressly provided or authorizedauthorized within this Agreement or by other written authority, have no authority to act for or be deemed an agent of the Fund.

Independent Contractor. The Sub-Adviser Subadviser shall for all purposes herein be deemed to be an independent contractor and shall, unless otherwise expressly provided herein or authorizedauthorized by the Fund's Board or the Adviser from time to time, have no authority to act for or represent the Fund in any way or otherwise be deemed an agent of the FundFund or of the Adviser.

Independent Contractor. The Sub-Adviser Advisor shall for all purposes herein be deemed to be an independent contractor and shall, unless otherwise expressly provided or authorized, have no authority to act for or be deemed an agent of the FundClient.

Independent Contractor. The Sub-Adviser shall for all purposes herein be deemed to be an independent contractor and shall, unless otherwise expressly provided or authorized, have no authority to act for or be deemed an agent of the Fund, except as provided for herein.

Independent Contractor. The Sub-Adviser shall for all purposes herein be deemed to be an independent contractor and shall, unless otherwise expressly provided or authorizedauthorized in this Agreement or another writing by the Trust or Adviser to the Sub-Adviser, have no authority to act for or be deemed an agent of the Trust or of the Fund in any way, or in any way be deemed an agent for the Trust or the Fund.

Independent Contractor. The Sub-Adviser shall Advisor shall, for all purposes herein herein, be deemed to be an independent contractor contractor, and shall, unless otherwise expressly provided or authorizedand authorized to do so, have no authority to act for or represent the Fund or the Advisor in any way, or in any way be deemed an agent of for the Advisor or the Fund.

Independent Contractor. The Sub-Adviser shall for all purposes herein be deemed to be an independent contractor and shall, unless otherwise expressly provided or authorizedauthorized in this Agreement or another writing by the Trust or Adviser to the Sub-Adviser, have no authority to act for or be deemed an agent of the FundTrust or the Fund in any way.

Independent Contractor. The Sub-Adviser Advisor shall for all purposes herein be deemed to be an independent contractor and shall, unless otherwise expressly provided or authorized, have no authority to act for or be deemed an agent of the Fund.. KC-1596036-2

Independent Contractor. The Sub-Adviser shall for all purposes herein be deemed to be an independent contractor and shall, unless otherwise expressly provided herein or authorizedauthorized by the Board of Trustees of the Trust from time to time, have no authority to act for or represent the Fund or the Adviser in any way or otherwise be deemed an agent of the FundFund or the Adviser.

Independent Contractor. The Sub-Adviser shall for all purposes herein be deemed to Advisor will be an independent contractor in performing its duties under this Agreement and shall, unless otherwise expressly provided herein or authorizedotherwise authorized in writing, will have no authority to act for or represent the Corporation, the Funds or Advisor in any way or otherwise be deemed an agent of the FundCorporation, the Funds or Advisor.

Independent Contractor. The Sub-Adviser shall for all purposes herein be deemed to be an independent contractor and shall, unless otherwise expressly provided or authorized, have no authority to act for or and shall not be deemed an agent of the any Fund.

Independent Contractor. The Sub-Adviser shall for all purposes herein be deemed to be an independent contractor and shall, unless otherwise expressly provided or authorizedauthorized in this Agreement or another writing by the Trust or Adviser to the Sub-Adviser, have no authority to act for the Trust or the Fund in any way, or in any way be deemed an agent of for the Trust or for the Fund.

Independent Contractor. The Sub-Adviser shall for all purposes herein be deemed to be an independent contractor and shall, unless otherwise expressly provided or authorized, have no authority to act for or be deemed an agent of the Cayman Fund.

Independent Contractor. The Sub-Adviser shall for all purposes herein be deemed to be an independent contractor and shall, unless otherwise expressly provided or authorizedauthorized in this Agreement or another writing by the Trust or Adviser to the Sub-Adviser, have no authority to act for or be deemed an agent of the FundTrust of the Fund in any way.

Independent Contractor. The Sub-Adviser shall for all purposes herein be deemed to be an independent contractor and shall, unless otherwise expressly provided or authorized, have no authority to act for or be deemed an agent of the FundFund and nothing herein shall be deemed to create any association, partnership, or joint venture between the parties.

Independent Contractor. The Sub-Adviser shall for all purposes herein be deemed to be an independent contractor and shall, unless otherwise expressly provided herein or authorizedauthorized by the Board of Trustees of the Trust or the Adviser from time to time, have no authority to act for or represent a Fund in any way or otherwise be deemed an agent of a Fund or of the FundAdviser.

Independent Contractor. The Sub-Adviser shall for all purposes herein be deemed to be an independent contractor and shallunder this Agreement and, unless otherwise expressly provided or authorized, shall have no authority to act for or represent the Manager or the Fund in any way or otherwise be deemed an as agent of the Manager or the Fund.

Independent Contractor. The Sub-Adviser Advisor shall for all purposes herein be deemed to be an independent contractor and shall, unless otherwise expressly provided herein or authorizedauthorized by the Board from time to time, have no authority to act for or represent a Fund in any way or otherwise be deemed an agent of the a Fund.

Independent Contractor. The Sub-Adviser shall Advisor shall, for all purposes herein herein, be deemed to be an independent contractor contractor, and shall, unless otherwise expressly provided or authorizedand authorized to do so, have no authority to act for or represent the Fund or the Advisor in any way, or in any way be deemed an agent of for the FundAdvisor or the Company.

Independent Contractor. The Sub-Adviser shall shall, for all purposes herein herein, be deemed to be an independent contractor contractor, and shall, unless otherwise expressly provided or authorizedand authorized to do so, have no authority to act for or represent the Trust, the Funds, or the Adviser in any way, or in any way be deemed an agent of for the FundTrust, the Funds, or the Adviser.

Independent Contractor. The Sub-Adviser shall for all purposes herein be deemed to be an rut independent contractor and shall, unless otherwise expressly provided or authorized, have no authority to act for or be deemed an agent of the Fund.

Independent Contractor. The Sub-Adviser shall for all purposes herein be deemed to be an independent contractor and shall, unless otherwise expressly provided or authorized, have no authority to act for or be deemed an agent of a Fund; except with respect to maintaining trading accounts in the name of each Fund, and executing for each Fund, as its agent and attorney-in-fact, standard institutional customer agreements with broker-dealers, each as the Adviser shall deem necessary or appropriate, in its sole discretion, to carry out the Sub-Adviser’s duties under this Agreement.

Independent Contractor. The In the performance of its duties hereunder, the Sub-Adviser is and shall for all purposes herein be deemed to be an independent contractor and shall, unless otherwise expressly provided herein or authorizedotherwise authorized in writing, shall have no authority to act for or represent the Fund, the Trust or the Manager in any way or otherwise be deemed an agent of the Fund, the Trust or the Manager.

Independent Contractor. The Sub-Adviser In the performance of its duties hereunder, the Sub- Advisor is and shall for all purposes herein be deemed to be an independent contractor and shalland, unless otherwise expressly provided herein or authorizedotherwise authorized in writing, shall have no authority to act for or represent a Fund, the Trust or the Advisor in any way or otherwise be deemed an agent of a Fund, the FundTrust or the Advisor.

Independent Contractor. The Sub-Adviser shall for all purposes herein be deemed to be an independent contractor and and, except as provided in Section 2 shall, unless otherwise expressly provided or authorized, have no authority to act for or be deemed an agent of the Fund.;

Independent Contractor. The Sub-Adviser shall will for all purposes herein be he deemed to be an independent contractor and shallwill, unless otherwise expressly provided herein or authorizedauthorized by the Board and the Adviser from time to time, have no authority to act for or represent the Company in any way or otherwise be deemed an agent of the FundCompany.

Independent Contractor. The Sub-Adviser shall for all purposes herein be deemed to will be an independent contractor and shall, unless otherwise expressly provided or authorized, will have no authority to act for or represent the Trust, the Fund or K2 in any way, including in any litigation or administrative proceeding involving the Fund or any security or investment held by the Fund, or otherwise be deemed an agent of the FundTrust, the Fund or K2, except as expressly authorized in this Agreement or another writing by the Trust, the Fund or K2.

Independent Contractor. The Sub-Adviser Sub‑Adviser shall for all purposes herein be deemed to be an independent contractor and shall, unless otherwise expressly provided herein or authorizedauthorized by the Board of Trustees of the Trust or the Adviser from time to time, have no authority to act for or represent a Fund in any way or otherwise be deemed an agent of a Fund or of the FundAdviser.

Independent Contractor. The Sub-Adviser Subadviser shall for all purposes herein be deemed to be an independent contractor and shall, unless otherwise expressly provided herein or authorizedauthorized by the Board of Directors of the Corporation or the Adviser from time to time, have no authority to act for or represent a Fund in any way or otherwise be deemed an agent of a Fund or of the FundAdviser.

Independent Contractor. The In the performance of its duties hereunder, the Sub-Adviser is and shall for all purposes herein be deemed to be an independent contractor and shalland, unless otherwise expressly provided herein or authorizedotherwise authorized in writing, shall have no authority to act for or represent the Fund or TAM in any way or otherwise be deemed to be an agent of the FundFund or TAM.