Common use of Prevention of Termination Clause in Contracts

Prevention of Termination. If FCS wishes to dismiss the Chief Compliance Officer under the terms of FCS’s contract with the Chief Compliance Officer, then FCS will present its plan of action to the Board prior to taking such action. Under such circumstances FCS may, at its own discretion, offer to present another Chief Compliance Officer candidate to the Board that would work through FCS. If the Board approves the new Chief Compliance Officer, the contract would continue as amended to reflect the new Chief Compliance Officer. If, the Board chooses to engage its own Chief Compliance Officer as a result of FCS dismissing the Chief Compliance Officer under this Agreement, the contract with FCS would end, and the Trust would pay FCS only for fees and Out of Pocket Expenses accrued up to the point in time when the Board’s new Chief Compliance Officer officially assumes responsibility.

Prevention of Termination. If FCS wishes to dismiss the Chief Compliance Officer under the terms of FCS’s contract with the Chief Compliance Officer, then FCS will present its plan of action to the Board prior to taking such action. Under such circumstances FCS may, at its own discretion, offer to present another Chief Compliance Officer candidate to the Board that would work through FCS. If the Board approves the new Chief Compliance Officer, the contract would continue as amended to reflect the new Chief Compliance Officer. If, the Board chooses to engage its own Chief Compliance Officer as a result of FCS dismissing the Chief Compliance Officer under this Agreement, the contract with FCS would end, and the Trust Fund would pay FCS only for fees and Out of Pocket Expenses accrued up to the point in time when the Board’s new Chief Compliance Officer officially assumes responsibility.