Common use of Retention of Sub-Adviser Clause in Contracts

Retention of Sub-Adviser. Subject to the Trust's obtaining the initial and periodic approvals required under Section 15 of the Act, the Adviser may retain one or more sub-advisers, at the Adviser's own cost and expense, for the purpose of managing the investments of the assets of one or more Funds of the Trust. Retention of one or more sub-advisers shall in no way reduce the responsibilities or obligations of the Adviser under this Agreement and the Adviser shall, subject to Section 11 of this Agreement, be responsible to the Trust for all acts or omissions of any sub-adviser in connection with the performance of the Adviser's duties hereunder. The Adviser shall provide advance notice to the Trust of any proposed change in the fee paid by the Adviser to a sub-adviser. Any change in sub-advisory fee is subject to the review and approval of the Trust’s Board of Trustees and may require shareholder approval.

Retention of Sub-Adviser. Subject to the Trust's obtaining the initial and periodic approvals required under Section 15 of the Act, the Adviser may retain one or more sub-advisers, at the Adviser's own cost and expense, for the purpose of managing the investments of the assets of one or more Funds of the Trust. Retention of one or more sub-advisers shall in no way reduce the responsibilities or obligations of the Adviser under this Agreement and the Adviser shall, subject to Section 11 of this Agreement, be responsible to the Trust for all acts or omissions of any sub-adviser in connection with the performance of the Adviser's duties hereunder. The Adviser shall provide advance notice to the Trust of any proposed change in the fee paid by the Adviser to a sub-adviser. Any change in sub-sub- advisory fee is subject to the review and approval of the Trust’s Board of Trustees and may require shareholder approval.