Common use of Scope of Engagement Clause in Contracts

Scope of Engagement. (a) CLIENT hereby appoints ADVISER as an Investment Adviser to perform the services hereinafter described, and ADVISER accepts such appointment. ADVISER shall be responsible for the investment and reinvestment of those assets designated by CLIENT to be subject to ADVISER’s management (which assets, together with all additions, substitutions and/or alterations thereto are hereinafter referred to as the “Assets” or “Account”); (b) The CLIENT acknowledges that the ADVISER shall primarily recommend that the CLIENT allocate all or a portion of the Assets among various individual mutual funds, individual equity and/or fixed income securities, and/or independent investment managers and/or programs and other securities and/or contracts relating to the same, on margin (only if written authorization has been granted) or otherwise in accordance with the CLIENT’s designated investment objective(s). Unless the CLIENT has advised the ADVISER to the contrary, in writing, there are no restrictions that the CLIENT has imposed upon the ADVISER with respect to the management of the Assets;