Common use of Monitor the Sub-advisors Clause in Contracts

Monitor the Sub-advisors. The Sub-Advisor will monitor the performance of each of the Series' sub-advisors and report to the Manager monthly, quarterly and annually on such performance in comparison to the performance of such advisers and benchmarks as the Manager may from time to time select. The Sub-Advisor's monitoring duties will include, and each monthly report regarding the performance of each sub-advisor will reflect the results of, one or more telephone conferences held by the Sub-Advisor with each sub- advisor. Each monthly, quarterly, and annual report will include, as appropriate, the Sub-Advisor's assessment of whether any sub-advisor has, in carrying out its investment duties for the Series, deviated materially from its investment philosophy or process, changed its personnel responsible for management of the assets of the Series allocated to it, suffered a financial or other event that threatens its ability to carry out its responsibilities to the Series, 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 Manager for each sub-advisor. Prior to the time the Sub-Advisor begins its work pursuant to this agreement, the Manager will provide the Sub-Advisor with the investment guidelines and subsequently the Manager will provide the Sub- Advisor promptly with any amendments to the guidelines. In determining whether any sub-advisor has suffered a financial or other event that threatens its ability to carry out its responsibilities to the Series, or has failed to adhere to the investment guidelines the Manager establishes, the Sub-Advisor may rely solely on information the Manager receives from each sub-advisor in the form of responses to the Manager's periodic questionnaire or other documentation, which documentation the Manager will provide to the Sub-Advisor within ten business days of the Manager's receipt of it. The Manager will also cause each sub-advisor to cooperate with the Sub-Advisor, including causing each sub-advisor to promptly provide to Sub-Advisor any other information the Sub-Advisor reasonably requests and make available the appropriate personnel to provide Sub-Advisor with clarifications and such other information that the Sub-Advisor may reasonably require to enable Sub-Advisor to carry out its responsibilities pursuant to this agreement.

Monitor the Sub-advisors. The Sub-Advisor will monitor the performance of each of the Series' sub-advisors and report to the Manager monthlymonthly , quarterly and annually on such performance in comparison to the performance of such advisers and benchmarks as the Manager may from time to time select. The Sub-Advisor's monitoring duties will include, and each monthly report regarding the performance of each sub-advisor will reflect the results of, one or more telephone conferences held by the Sub-Advisor with each sub- sub-advisor. Each monthly, quarterly, and annual report will include, as appropriate, the Sub-Advisor's assessment of whether any sub-advisor has, in carrying out its investment duties for the Series, deviated materially from its investment philosophy or process, changed its personnel responsible for management of the assets of the Series allocated to it, suffered a financial or other event that threatens its ability to carry out its responsibilities to the Series, 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 Manager for each sub-advisoradvisor . Prior to the time the Sub-Advisor begins its work pursuant to this agreementagreement , the Manager will provide the Sub-Advisor with the investment guidelines and subsequently the Manager will provide the Sub- Sub-Advisor promptly with any amendments to the guidelinesguidelines . In determining whether any sub-sub- advisor has suffered a financial or other event that threatens its ability to carry out its responsibilities to the Series, or has failed to adhere to the investment guidelines the Manager establishes, the Sub-Advisor may rely solely on information the Manager receives from each sub-advisor in the form of responses to the Manager's periodic questionnaire or other documentationdocumentation , which documentation the Manager will provide to the Sub-Advisor within ten business days of the Manager's receipt of it. The Manager will also cause each sub-advisor to cooperate with the Sub-AdvisorAdvisor , including causing each sub-advisor to promptly provide to Sub-Advisor any other information the Sub-Sub- Advisor reasonably requests and make available the appropriate personnel to provide Sub-Advisor with clarifications and such other information that the Sub-Sub- Advisor may reasonably require to enable Sub-Advisor to carry out its responsibilities pursuant to this agreement.

Monitor the Sub-advisors. The Sub-Advisor will monitor the performance of each of the Series' sub-advisors and report to the Manager monthly, quarterly and annually on such performance in comparison to the performance of such advisers and benchmarks as the Manager may from time to time select. The Sub-Advisor's monitoring duties will include, and each monthly report regarding the performance of each sub-advisor will reflect the results of, one or more telephone conferences held by the Sub-Advisor with each sub- sub-advisor. Each monthly, quarterly, and annual report will include, as appropriate, the Sub-Sub- Advisor's assessment of whether any sub-advisor has, in carrying out its investment duties for the Series, deviated materially from its investment philosophy or process, changed its personnel responsible for management of the assets of the Series allocated to it, suffered a financial or other event that threatens its ability to carry out its responsibilities to the Series, 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 Manager for each sub-advisor. Prior to the time the Sub-Sub- Advisor begins its work pursuant to this agreement, the Manager will provide the Sub-Advisor with the investment guidelines and subsequently the Manager will provide the Sub- Sub-Advisor promptly with any amendments to the guidelines. In determining whether any sub-advisor has suffered a financial or other event that threatens its ability to carry out its responsibilities to the Series, or has failed to adhere to the investment guidelines the Manager establishes, the Sub-Sub- Advisor may rely solely on information the Manager receives from each sub-advisor in the form of responses to the Manager's periodic questionnaire or other documentation, which documentation the Manager will provide to the Sub-Sub- Advisor within ten business days of the Manager's receipt of it. The Manager will also cause each sub-advisor to cooperate with the Sub-Advisor, including causing each sub-sub- advisor to promptly provide to Sub-Advisor any other information the Sub-Advisor reasonably requests and make available the appropriate personnel to provide Sub-Advisor with clarifications and such other information that the Sub-Sub- Advisor may reasonably require to enable Sub-Advisor to carry out its responsibilities pursuant to this agreement.