Common use of Monitor the Investment Managers Clause in Contracts

Monitor the Investment Managers. The Sub-Adviser will monitor the performance of each of the Investment Managers utilizing data provided by the Adviser and report to the Adviser no less frequently than monthly, and more frequently as the Board or Adviser may reasonably request, on such performance in comparison to the performance of such advisers and benchmarks as the Adviser may from time to time select and communicate in writing to the Sub-Adviser. The Sub-Adviser’s monitoring duties will include regular in-person meetings and telephone conferences held by the Sub-Adviser with each Investment Manager. The Sub-Adviser will provide monthly, quarterly and annual reports to the Adviser and the Board, the form and content of which will be as reasonably requested by the Adviser and the Board, addressing each Investment Manager’s performance as well as, as appropriate, the Sub-Adviser’s assessment or knowledge of whether any Investment Manager has, in carrying out its investment duties for the Fund, deviated materially from its investment philosophy or process, changed its personnel responsible for management of the assets of the Fund allocated to it, suffered a financial or other event that threatens its ability to effectively carry out its responsibilities to the Fund, achieved an acceptable level of performance during the period without taking an unexpected degree of risk, and adhered to the investment guidelines established by the Adviser for each Investment Manager, other information relevant to the services being provided by the Sub-Adviser as reasonably requested by the Adviser or the Board from time to time, and such other information as the Sub-Adviser considers relevant to an evaluation of the performance of each Investment Manager. Notwithstanding anything to the contrary in this Agreement, the Sub-Adviser shall have no responsibilities or liability with respect to any act or omission of any Investment Manager other than reporting any act or omission described above to the Adviser and/or Board, as described in this Section 2(c). For greater clarity, the parties agree and acknowledge that the Sub-Adviser shall not be responsible for monitoring, and shall have no liability with respect to, the compliance of any Investment Manager with any restrictions or requirements that may be applicable to such Investment Manager other than those restrictions and requirements with respect to the Fund. In addition, the Sub-Adviser shall provide training for purposes of providing the Adviser’s employees with an understanding of the Sub-Adviser’s approach to evaluating and recommending Investment Managers and allocations, as well as the Sub-Adviser’s investment process. As part of such training, the Sub-Adviser will arrange and participate in conferences or tele-conferences with each Investment Manager, as described in 2(c) above, and in such other telephone or in-person meetings as reasonably requested by the Adviser or Board from time to time.

Monitor the Investment Managers. The Sub-Adviser will monitor the performance of each of the Investment Managers utilizing data provided by the Adviser and report to the Adviser no less frequently than monthly, and more frequently as the Board or Adviser may reasonably request, on such performance in comparison to the performance of such advisers and benchmarks as the Adviser may from time to time select and communicate in writing to the Sub-Adviser. The Sub-Adviser’s monitoring duties will include regular in-person meetings and telephone conferences held by the Sub-Adviser with each Investment Manager. The Sub-Adviser will provide monthly, quarterly and annual reports to the Adviser and the Board, the form and content of which will be as reasonably requested by the Adviser and the Board, addressing each Investment Manager’s performance as well as, as appropriate, the Sub-Adviser’s assessment or knowledge of whether any Investment Manager has, in carrying out its investment duties for the Fund, deviated materially from its investment philosophy or process, changed its personnel responsible for management of the assets of the Fund allocated to it, suffered a financial or other event that threatens its ability to effectively carry out its responsibilities to the Fund, achieved an acceptable level of performance during the period without taking an unexpected degree of risk, and adhered to the investment guidelines established by the Adviser for each Investment Manager, other information relevant to the services being provided by the Sub-Adviser as reasonably requested by the Adviser or the Board from time to time, and such other information as the Sub-Adviser considers relevant to an evaluation of the performance of each Investment Manager. Notwithstanding anything to the contrary in this Agreement, the Sub-Adviser shall have no responsibilities or liability with respect to any act or omission of any Investment Manager other than reporting any act or omission described above to the Adviser and/or Board, as described in this Section 2(c). For greater clarity, the parties agree and acknowledge that the Sub-Adviser shall not be responsible for monitoring, and shall have no liability with respect to, the compliance of any Investment Manager with any restrictions or requirements that may be applicable to such Investment Manager other than those restrictions and requirements with respect to the Fund. In addition, the Sub-Adviser shall provide training for purposes of providing the Adviser’s employees with an understanding of the Sub-Adviser’s approach to evaluating and recommending Investment Managers and allocations, as well as the Sub-Adviser’s investment process. As part of such training, the Sub-Adviser will arrange and participate in conferences or tele-conferences with each Investment Manager, as described in 2(c) above, and in such other telephone or in-person meetings as reasonably requested by the Adviser or Board from time to time.

Monitor the Investment Managers. The Sub-Adviser will monitor the performance of each of the Investment Managers utilizing data provided by the Adviser and report to the Adviser no less frequently than monthly, and more frequently as the Board or Adviser may reasonably request, on such performance in comparison to the performance of such advisers and benchmarks as the Adviser may from time to time select and communicate in writing to the Sub-Adviser. The Sub-Adviser’s monitoring duties will include regular in-person meetings and telephone conferences held by the Sub-Adviser with each Investment Manager. The Sub-Adviser will provide monthly, quarterly and annual reports to the Adviser and the Board, the form and content of which will be as reasonably requested by the Adviser and the Board, addressing each Investment Manager’s performance as well as, as appropriate, the Sub-Adviser’s assessment or knowledge of whether any Investment Manager has, in carrying out its investment duties for the Fund, deviated materially from its investment philosophy or process, changed its personnel responsible for management of the assets of the Fund allocated to it, suffered a financial or other event that threatens its ability to effectively carry out its responsibilities to the Fund, achieved an acceptable level of performance during the period without taking an unexpected degree of risk, and adhered to the investment guidelines Investment Guidelines established by the Adviser for each Investment Manager, other information relevant to the services being provided by the Sub-Adviser as reasonably requested by the Adviser or the Board from time to time, and such other information as the Sub-Adviser considers relevant to an evaluation of the performance of each Investment Manager. Notwithstanding anything to the contrary in this Agreement, the Sub-Adviser shall have no responsibilities or liability with respect to any act or omission of any Investment Manager other than reporting any act or omission described above to the Adviser and/or Board, as described in this Section 2(c). For greater clarity, the parties agree and acknowledge that the Sub-Adviser shall not be responsible for monitoring, and shall have no liability with respect to, the compliance of any Investment Manager with any restrictions or requirements that may be applicable to such Investment Manager other than those restrictions and requirements with respect to the Fund. In addition, the Sub-Adviser shall provide training for purposes of providing the Adviser’s employees with an understanding of the Sub-Adviser’s approach to evaluating and recommending Investment Managers and allocations, as well as the Sub-Adviser’s investment process. As part of such training, the Sub-Adviser will arrange and participate in conferences or tele-conferences with each Investment Manager, as described in 2(c) above, and in such other telephone or in-person meetings as reasonably requested by the Adviser or Board from time to time.