Common use of Resignation by Chief Compliance Officer Clause in Contracts

Resignation by Chief Compliance Officer. If the Chief Compliance Officer voluntarily resigns, at the discretion of both parties, FCS may present an alternative Chief Compliance Officer for Board consideration and approval to continue Chief Compliance Officer duties under this Agreement. If the Board chooses to end it’s relationship with FCS as a result of such voluntary resignation by the Chief Compliance Officer, the contract with FCS would end, and the 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. FCS will make every effort to assist the Board in a smooth transition during this period.

Resignation by Chief Compliance Officer. If the Chief Compliance Officer voluntarily resigns, at the discretion of both parties, FCS may present an alternative Chief Compliance Officer for Board consideration and approval to continue Chief Compliance Officer duties under this Agreement. If the Board chooses to end it’s relationship with FCS as a result of such voluntary resignation by the Chief Compliance Officer, the contract with FCS would end, and the Fund 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. FCS will make every effort to assist the Board in a smooth transition during this period.

Resignation by Chief Compliance Officer. If the Chief Compliance Officer voluntarily resigns, at the discretion of both parties, FCS may present an alternative Chief Compliance Officer for Board consideration and approval to continue Chief Compliance Officer duties under this Agreement. If the Board chooses to end it’s its relationship with FCS as a result of such voluntary resignation by the Chief Compliance Officer, the contract with FCS would end, and the Fund 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. FCS will make every effort to assist the Board in a smooth transition during this period.