Common use of Services as Investment Adviser Clause in Contracts

Services as Investment Adviser. Subject to the supervision and direction of the Board of Trustees of each Series and Fund, the Adviser will (a) act in strict conformity with the Funds' Agreements and Declarations of Trust, the Investment Company Act of 1940 (the "1940 Act") and the Investment Advisers Act of 1940, as the same may from time to time be amended, (b) manage such Series' or Fund's assets in accordance with such Series' or Fund's investment objective and policies as stated in the Funds' Prospectuses and SAIs, (c) make investment decisions for such Series or Fund, (d) place purchase and sale orders for securities on behalf of such Series or Fund, (e) exercise voting rights in respect of portfolio securities and other investments for such Series or Fund, and (f) monitor and evaluate the services provided by such Series' or Fund's investment sub-adviser(s), if any, under the terms of the applicable investment sub-advisory agreement(s). In providing those services, the Adviser will provide investment research and supervision of such Series' or Fund's investments and conduct a continual program of investment, evaluation and, if appropriate, sale and reinvestment of such Series' or Fund's assets. In addition, the Adviser will furnish each Series and Fund with whatever statistical information such Series or Fund may reasonably request with respect to the securities that such Series or Fund may hold or contemplate purchasing. Subject to the approval of the Board of Trustees of each of the Series Funds and where required, such Series Fund's shareholders, the Adviser may engage an investment sub-adviser or sub-advisers to provide advisory services in respect of such Series and may delegate to such investment sub-adviser(s) the responsibilities described in subparagraphs (b), (c), (d) and (e) above. In the event that an investment sub-adviser's engagement has been terminated, the Adviser shall be responsible for furnishing such Series with the services required to be performed by such investment sub-adviser(s) under the applicable investment sub-advisory agreements or arranging for a successor investment sub-adviser(s) to provide such services on terms and conditions acceptable to such Series and the Series' Board of Trustees and subject to the requirements of the 1940 Act.

Services as Investment Adviser. Subject to the supervision and direction of the Board of Trustees of each Series and Fundthe Trust, the Adviser will (a) act in strict conformity with the Funds' Agreements Trust's Agreement and Declarations Declaration of Trust, the Investment Company Act of 1940 (the "1940 Act") and the Investment Advisers Act of 1940, as the same may from time to time be amended, (b) manage such Series' or Fundthe Portfolio's assets in accordance with such Series' or Fundthe Portfolio's investment objective and policies as stated in the Funds' Prospectuses Trust's Prospectus and SAIsSAI relating to the Portfolio, (c) make investment decisions for such Series or Fundthe Portfolio, (d) place purchase and sale orders for securities on behalf of such Series or Fundthe Portfolio, (e) exercise voting rights in respect of portfolio securities and other investments for such Series or Fundthe Portfolio, and (f) monitor and evaluate the services provided by such Series' or Fundthe Portfolio's investment sub-adviser(s), if any, under the terms of the applicable investment sub-advisory agreement(s). In providing those services, the Adviser will provide investment research and supervision of such Series' or Fundthe Portfolio's investments and conduct a continual program of investment, evaluation and, if appropriate, sale and reinvestment of such Series' or Fundthe Portfolio's assets. In addition, the Adviser will furnish each Series and Fund the Trust with whatever statistical information such Series or Fund the Trust may reasonably request with respect to the securities that such Series or Fund the Portfolio may hold or contemplate purchasing. Subject to the approval of the Board of Trustees of each of the Series Funds Trust and where required, such Series Fundthe Portfolio's shareholders, the Adviser may engage an investment sub-adviser or sub-advisers to provide advisory services in respect of such Series the Portfolio and may delegate to such investment sub-adviser(s) the responsibilities described in subparagraphs (b), (c), (d) and (e) above. In the event that an investment sub-adviser's engagement has been terminated, the Adviser shall be responsible for furnishing such Series the Trust with the services required to be performed by such investment sub-adviser(s) under the applicable investment sub-advisory agreements or arranging for a successor investment sub-adviser(s) to provide such services on terms and conditions acceptable to such Series the Trust and the Series' Trust's Board of Trustees and subject to the requirements of the 1940 Act.

Services as Investment Adviser. Subject to the supervision and direction of the Board of Trustees of each Series and Fund, the Adviser will (a) act in strict conformity with the Funds' ’ Agreements and Declarations of Trust, the Investment Company Act of 1940 (the "“1940 Act"”) and the Investment Advisers Act of 1940, as the same may from time to time be amended, (b) manage such Series' ’ or Fund's ’s assets in accordance with such Series' ’ or Fund's ’s investment objective and policies as stated in the Funds' ’ Prospectuses and SAIs, (c) make investment decisions for such Series or Fund, (d) place purchase and sale orders for securities on behalf of such Series or Fund, (e) exercise voting rights in respect of portfolio securities and other investments for such Series or Fund, and (f) monitor and evaluate the services provided by such Series' ’ or Fund's ’s investment sub-adviser(s), if any, under the terms of the applicable investment sub-advisory agreement(s). In providing those services, the Adviser will provide investment research and supervision of such Series' ’ or Fund's ’s investments and conduct a continual program of investment, evaluation and, if appropriate, sale and reinvestment of such Series' ’ or Fund's ’s assets. In addition, the Adviser will furnish each Series and Fund with whatever statistical information such Series or Fund may reasonably request with respect to the securities that such Series or Fund may hold or contemplate purchasing. Subject to the approval of the Board of Trustees of each of the Series Funds and where required, such Series Fund's ’s shareholders, the Adviser may engage an investment sub-adviser or sub-advisers to provide advisory services in respect of such Series and may delegate to such investment sub-adviser(s) the responsibilities described in subparagraphs (b), (c), (d) and (e) above. In the event that an investment sub-adviser's ’s engagement has been terminated, the Adviser shall be responsible for furnishing such Series with the services required to be performed by such investment sub-adviser(s) under the applicable investment sub-advisory agreements or arranging for a successor investment sub-adviser(s) to provide such services on terms and conditions acceptable to such Series and the Series' ’ Board of Trustees and subject to the requirements of the 1940 Act.

Services as Investment Adviser. Subject to the supervision and direction of the Board of Trustees Directors of each Series and the Fund, the Adviser will (a) act in strict conformity with the Funds' Agreements and Declarations Fund's Articles of TrustIncorporation, the Investment Company Act of 1940 (the "1940 Act") and the Investment Advisers Act of 1940, as the same may from time to time be amendedamended (the "Advisers Act"), (b) manage such Series' or the Fund's assets in accordance with such Series' or the Fund's investment objective and policies as stated in the Funds' Prospectuses Fund's Prospectus and SAIsSAI, (c) make investment decisions for such Series or the Fund, (d) place purchase and sale orders for securities on behalf of such Series or the Fund, (e) exercise voting rights in respect of portfolio securities and other investments for such Series or the Fund, and (f) monitor and evaluate the services provided by such Series' or the Fund's investment sub-adviser(s), if any, under the terms of the applicable investment sub-advisory agreement(s)agreement. In providing those services, the Adviser will provide investment research and supervision of such Series' or the Fund's investments and conduct a continual program of investment, evaluation and, if appropriate, sale and reinvestment of such Series' or the Fund's assets. In addition, the Adviser will furnish each Series and the Fund with whatever statistical information such Series or the Fund may reasonably request with respect to the securities that such Series or the Fund may hold or contemplate purchasing. Subject to the approval of the Board of Trustees of each Directors of the Series Funds and Fund and, where requiredrequired by law, such Series the Fund's shareholders, the Adviser may engage an investment sub-adviser or sub-advisers to provide advisory services in respect of such Series the Fund and may delegate to such investment sub-adviser(s) the responsibilities described in subparagraphs (b), (c), (d) and (e) above. In the event that an investment sub-adviser's engagement has been terminated, the Adviser shall be responsible for furnishing such Series the Fund with the services required to be performed by such investment sub-adviser(s) under the applicable investment sub-advisory agreements agreement(s) or arranging for a successor investment sub-adviser(s) to provide such services on terms and conditions acceptable to such Series the Fund and the Series' Fund's Board of Trustees Directors and subject to the requirements of the 1940 Act.

Services as Investment Adviser. Subject to the supervision and direction of the Board of Trustees Directors of each Series and the Fund, the Adviser will (a) act in strict conformity with the Funds' Agreements and Declarations Fund's Articles of TrustIncorporation, the Investment Company Act of 1940 (the "1940 Act") and the Investment Advisers Act of 1940, as the same may from time to time be amended, (b) manage such Series' or Fundthe Portfolio's assets in accordance with such Series' or Fundthe Portfolio's investment objective and policies as stated in the Funds' Prospectuses Fund's Prospectus and SAIsSAI relating to the Portfolio, (c) make investment decisions for such Series or Fundthe Portfolio, (d) place purchase and sale orders for securities on behalf of such Series or Fundthe Portfolio, (e) exercise voting rights in respect of portfolio securities and other investments for such Series or Fundthe Portfolio, and (f) monitor and evaluate the services provided by such Series' or Fundthe Portfolio's investment sub-adviser(s), if any, under the terms of the applicable investment sub-advisory agreement(s). In providing those services, the Adviser will provide investment research and supervision of such Series' or Fundthe Portfolio's investments and conduct a continual program of investment, evaluation and, if appropriate, sale and reinvestment of such Series' or Fundthe Portfolio's assets. In addition, the Adviser will furnish each Series and the Fund with whatever statistical information such Series or the Fund may reasonably request with respect to the securities that such Series or Fund the Portfolio may hold or contemplate purchasing. Subject to the approval of the Board of Trustees of each Directors of the Series Funds Fund and where required, such Series the Fund's shareholders, the Adviser may engage an investment sub-adviser or sub-advisers to provide advisory services in respect of such Series the Portfolio and may delegate to such investment sub-adviser(s) the responsibilities described in subparagraphs (b), (c), (d) and (e) above. In the event that an investment sub-adviser's engagement has been terminated, the Adviser shall be responsible for furnishing such Series the Portfolio with the services required to be performed by such investment sub-adviser(s) under the applicable investment sub-advisory agreements or arranging for a successor investment sub-adviser(s) to provide such services on terms and conditions acceptable to such Series the Portfolio and the Series' Fund's Board of Trustees Directors and subject to the requirements of the 1940 Act.

Services as Investment Adviser. Subject to the supervision and direction of the Board of Trustees of each Series and Fundthe Trust, the Adviser will (a) act in strict conformity with the Funds' Agreements and Declarations of TrustTrust Instrument, the Investment Company Act of 1940 (the "1940 Act") and the Investment Advisers Act of 1940, as the same may from time to time be amended, (b) manage such Series' or Fund's assets the Fund in accordance with such Series' or the Fund's investment objective and policies as stated in the Funds' Prospectuses Trust's Prospectus and SAIsSAI relating to the Fund, (c) make investment decisions for such Series or the Fund, (d) place purchase and sale orders for securities on behalf of such Series or the Fund, (e) exercise voting rights in respect of portfolio Fund securities and other investments for such Series or the Fund, (f) pledge or assign assets of the Fund and aggregate orders on behalf of the Fund with orders entered by the Adviser on behalf of other clients of the Adviser to the extent consistent with applicable law and (fg) monitor and evaluate the services provided by such Series' or the Fund's investment sub-adviser(s), if any, under the terms of the applicable investment sub-advisory agreement(s). In providing those services, the Adviser will provide investment research and supervision of such Series' or the Fund's investments and conduct a continual program of investment, evaluation and, if appropriate, sale and reinvestment of such Series' or the Fund's assets. In addition, the Adviser will furnish each Series and Fund the Trust with whatever statistical information such Series or Fund the Trust may reasonably request with respect to the securities that such Series or the Fund may hold or contemplate purchasing. Subject to the approval of the Board of Trustees of each of the Series Funds Trust and where required, such Series Fundthe Trust's shareholders, the Adviser may engage an investment sub-adviser or sub-advisers to provide advisory services in respect of such Series the Fund and may delegate to such investment sub-adviser(s) the responsibilities described in subparagraphs (b), ) through (c), (d) and (ef) above. In the event that an investment sub-adviser's engagement has been terminated, the Adviser shall be responsible for furnishing such Series the Fund with the services required to be performed by such investment sub-adviser(s) under the applicable investment sub-advisory agreements or arranging for a successor investment sub-adviser(s) to provide such services on terms and conditions acceptable to such Series the Trust and the Series' Trust's Board of Trustees and subject to the requirements of the 1940 Act.

Services as Investment Adviser. Subject to the supervision and direction of the Board of Trustees Directors of each Series and the Fund, the Adviser will (a) act in strict conformity with the Funds' Agreements and Declarations Fund's Articles of TrustIncorporation, the Investment Company Act of 1940 (the "1940 Act") and the Investment Advisers Act of 1940, as the same may from time to time be amended, (b) manage such Series' or the Fund's assets in accordance with such Series' or the Fund's investment objective and policies as stated in the Funds' Prospectuses Fund's Prospectus and SAIsSAI, (c) make general investment decisions for the Fund, including decisions concerning (i) the specific types of securities to be held by the Fund and the proportion of the Fund's assets that should be allocated to such Series investments during particular market cycles, (ii) the specific issuers whose securities will be purchased or sold by the Fund, (iii) the appropriate maturity of its portfolio investments and (iv) the appropriate average weighted maturity of its portfolio in light of current market conditions, (d) place purchase and sale orders for securities on behalf of such Series or Fund, (e) exercise voting rights in respect of portfolio securities and other investments for such Series or the Fund, and (fe) monitor and evaluate the services provided by such Series' or the Fund's investment sub-adviser(s), if any, under the terms of the applicable investment sub-advisory agreement(s). In providing those services, the Adviser will provide investment research and supervision of such Series' or the Fund's investments and conduct a continual program of investment, evaluation and, if appropriate, sale and reinvestment of such Series' or the Fund's assets. In addition, the Adviser will furnish each Series and the Fund with whatever statistical information such Series or the Fund may reasonably request with respect to the securities that such Series or the Fund may hold or contemplate purchasing. Subject to the approval of the Board of Trustees of each Directors of the Series Funds Fund and where required, such Series the Fund's shareholders, the Adviser may engage an investment sub-adviser or sub-advisers to provide advisory services in respect of such Series the Fund and may delegate to such investment sub-adviser(s) the responsibilities described in subparagraphs (b), (c), and (d) and (e) above. In the event that an investment sub-adviser's engagement has been terminated, the Adviser shall be responsible for furnishing such Series the Fund with the services required to be performed by such investment sub-adviser(s) under the applicable investment sub-advisory agreements or arranging for a successor investment sub-adviser(s) to provide such services on terms and conditions acceptable to such Series the Fund and the Series' Fund's Board of Trustees Directors and subject to the requirements of the 1940 Act.

Services as Investment Adviser. Subject to the supervision and direction of the Board of Trustees of each Series and Fundthe Trust, the Adviser will (a) act in strict conformity with the Funds' Agreements and Declarations Trust's Declaration of Trust, the Investment Company Act of 1940 (the "1940 Act") and the Investment Advisers Act of 1940, as the same may from time to time be amended, (b) manage such Series' or the Fund's assets in accordance with such Series' or the Fund's investment objective objectives and policies as stated in the Funds' Prospectuses Trust's Prospectus and SAIsSAI relating to the Fund, (c) make investment decisions for such Series or the Fund, (d) place purchase and sale orders for securities on behalf of such Series or the Fund, (e) exercise voting rights in respect of portfolio securities and other investments for such Series or the Fund, and (f) monitor and evaluate the services provided by such Series' or the Fund's investment sub-adviser(s), if any, under the terms of the applicable investment sub-advisory agreement(s). In providing those services, the Adviser will provide investment research and supervision of such Series' or the Fund's investments and conduct a continual program of investment, evaluation and, if appropriate, sale and reinvestment of such Series' or the Fund's assets. In addition, the Adviser will furnish each Series and Fund the Trust with whatever statistical information such Series or Fund the Trust may reasonably request with respect to the securities that such Series or the Fund may hold or contemplate purchasing. Subject to the approval of the Board of Trustees of each of the Series Funds Trust and where required, such Series Fundthe Trust's shareholders, the Adviser may engage an investment sub-adviser or sub-advisers to provide advisory services in respect of such Series the Fund and may delegate to such investment sub-adviser(s) the responsibilities described in subparagraphs (b), (c), (d) and (e) above. In the event that an investment sub-adviser's engagement has been terminated, the Adviser shall be responsible for furnishing such Series the Fund with the services required to be performed by such investment sub-adviser(s) under the applicable investment sub-advisory agreements or arranging for a successor investment sub-adviser(s) to provide such services on terms and conditions acceptable to such Series the Fund and the Series' Trust's Board of Trustees and subject to the requirements of the 1940 Act.

Services as Investment Adviser. Subject to the supervision and direction of the Board of Trustees Directors of each Series and the Fund, the Adviser will (a) act in strict conformity with the Funds' Agreements and Declarations Fund's Articles of TrustIncorporation, the Investment Company Act of 1940 (the "1940 Act") and the Investment Advisers Act of 1940, as the same may from time to time be amended, (b) manage such Series' or Fundeach Portfolio's assets in accordance with such Series' or the Fund's investment objective each Portfolio and policies as stated in the Funds' Prospectuses and SAIsSAI relating to the Portfolios, (c) make investment decisions for such Series or Fundeach Portfolio, (d) place purchase and sale orders for securities on behalf of such Series or Fundeach Portfolio, (e) exercise voting rights in respect of portfolio securities and other investments for such Series or Fundeach Portfolio, and (f) monitor and evaluate the services provided by such Series' or the Fund's investment sub-adviser(s), if any, under the terms of the applicable investment sub-advisory agreement(s). In providing those services, the Adviser will provide investment research and supervision of such Series' or Fundeach Portfolio's investments and conduct a continual program of investment, evaluation and, if appropriate, sale and reinvestment of such Series' or Fundeach Portfolio's assets. In addition, the Adviser will furnish each Series and the Fund with whatever statistical information such Series or the Fund may reasonably request with respect to the securities that such Series or Fund the Portfolios may hold or contemplate purchasing. Subject to the approval of the Board of Trustees of each Directors of the Series Funds Fund and where required, such Series Funda Portfolio's shareholders, the Adviser may engage an investment sub-adviser or sub-advisers to provide advisory services in respect of such Series a Portfolio and may delegate to such investment sub-adviser(s) the responsibilities described in subparagraphs (b), (c), (d) and (e) above. In the event that an investment sub-adviser's engagement has been terminated, the Adviser shall be responsible for furnishing such Series the Fund with the services required to be performed by such investment sub-adviser(s) under the applicable investment sub-advisory agreements or arranging for a successor investment sub-adviser(s) to provide such services on terms and conditions acceptable to such Series the Fund and the Series' Fund's Board of Trustees Directors and subject to the requirements of the 1940 Act.

Services as Investment Adviser. Subject to the supervision and direction of the Board of Trustees Directors of each Series and the Fund, the Adviser will (a) act in strict conformity with the Funds' Agreements and Declarations Fund's Articles of TrustIncorporation, the Investment Company Act of 1940 (the "1940 Act") and the Investment Advisers Act of 1940, as the same may from time to time be amendedamended (the "Advisers Act"), (b) manage such Series' or the Fund's assets in accordance with such Series' or the Fund's investment objective and policies as stated in the Funds' Prospectuses Fund's Prospectus and SAIsSAI, (c) make investment decisions for such Series or the Fund, (d) place purchase and sale orders for securities on behalf of such Series or the Fund, (e) exercise voting rights in respect of portfolio securities and other investments for such Series or the Fund, and (f) monitor and evaluate the services provided by such Series' or the Fund's investment sub-adviser(s), if any, under the terms of the applicable investment sub-advisory agreement(s)agreement. In providing those services, the Adviser will provide investment research and supervision of such Series' or the Fund's investments and conduct a continual program of investment, evaluation and, if appropriate, sale and reinvestment of such Series' or the Fund's assets. In addition, the Adviser will furnish each Series and the Fund with whatever statistical information such Series or the Fund may reasonably request with respect to the securities that such Series or the Fund may hold or contemplate purchasing. Subject to the approval of the Board of Trustees of each Directors of the Series Funds and Fund and, where requiredrequired by law, such Series the Fund's shareholders, the Adviser may engage an investment sub-adviser or sub-sub- advisers to provide advisory services in respect of such Series the Fund and may delegate to such investment sub-adviser(s) the responsibilities described in subparagraphs (b), (c), (d) and (e) above. In the event that an investment sub-adviser's engagement has been terminated, the Adviser shall be responsible for furnishing such Series the Fund with the services required to be performed by such investment sub-adviser(s) under the applicable investment sub-advisory agreements agreement(s) or arranging for a successor investment sub-adviser(s) to provide such services on terms and conditions acceptable to such Series the Fund and the Series' Fund's Board of Trustees Directors and subject to the requirements of the 1940 Act.

Services as Investment Adviser. Subject to the supervision and direction of the Board of Trustees of each Series and the Fund, the Adviser will (a) act in strict conformity with the Funds' Agreements and Declarations of TrustFund’s Trust Instrument, the Investment Company Act of 1940 1940, as amended, (the "“1940 Act"”) and the Investment Advisers Act of 1940, as the same may from time to time be amended, (b) manage such each Series' or Fund's ’ assets in accordance with such Series' or Fund's ’ investment objective and policies as stated in the Funds' Prospectuses Series’ Prospectus and SAIsSAI, (c) make investment decisions for such Series or Fundeach Series, (d) place purchase and sale orders for securities on behalf of such Series or Fundeach Series, (e) exercise voting rights in respect of portfolio securities and other investments for such Series or Fundeach Series, and (f) monitor and evaluate the services provided by such each Series' or Fund's ’ investment sub-adviser(s), if any, under the terms of the applicable investment sub-advisory agreement(s)agreement. In providing those services, the Adviser will provide investment research and supervision of such each Series' or Fund's ’ investments and conduct a continual program of investment, evaluation and, if appropriate, sale and reinvestment of such Series' or Fund's ’ assets. In addition, the Adviser will furnish each Series and Fund with whatever statistical information such Series or the Fund may reasonably request with respect to the securities that such Series or Fund may hold or contemplate purchasing. Subject to the approval of the Board of Trustees of each of the Series Funds and Fund and, where required, such Series Fund's the Series’ shareholders, the Adviser may engage an investment sub-adviser or sub-advisers to provide advisory services in respect of such a Series and may delegate to such investment sub-adviser(s) the responsibilities described in subparagraphs (b), (c), (d) and (e) above. In the event that an investment sub-adviser's ’s engagement has been terminated, the Adviser shall be responsible for furnishing such each Series with the services required to be performed by such investment sub-adviser(s) under the applicable investment sub-advisory agreements agreement(s) or arranging for a successor investment sub-adviser(s) to provide such services on terms and conditions acceptable to such the Series and the Series' Fund’s Board of Trustees and subject to the requirements of the 1940 Act.

Services as Investment Adviser. Subject to the supervision and direction of the Board of Trustees Directors of each Series and the Fund, the Adviser will (a) act in strict conformity with the Funds' Agreements and Declarations Fund’s Articles of TrustIncorporation, the Investment Company Act of 1940 (the "“1940 Act"”) and the Investment Advisers Act of 1940, as the same may from time to time be amended, (b) manage such Series' or Fund's the Portfolio’s assets in accordance with such Series' or Fund's the Portfolio’s investment objective and policies as stated in the Funds' Prospectuses Fund’s Prospectus and SAIsSAI relating to the Portfolio, (c) make investment decisions for such Series or Fundthe Portfolio, (d) place purchase and sale orders for securities on behalf of such Series or Fundthe Portfolio, (e) exercise voting rights in respect of portfolio securities and other investments for such Series or Fundthe Portfolio, and (f) monitor and evaluate the services provided by such Series' or Fund's the Portfolio’s investment sub-adviser(s), if any, under the terms of the applicable investment sub-advisory agreement(s). In providing those services, the Adviser will provide investment research and supervision of such Series' or Fund's the Portfolio’s investments and conduct a continual program of investment, evaluation and, if appropriate, sale and reinvestment of such Series' or Fund's the Portfolio’s assets. In addition, the Adviser will furnish each Series and the Fund with whatever statistical information such Series or the Fund may reasonably request with respect to the securities that such Series or Fund the Portfolio may hold or contemplate purchasing. Subject to the approval of the Board of Trustees of each Directors of the Series Funds Fund and where required, such Series the Fund's ’s shareholders, the Adviser may engage an investment sub-adviser or sub-advisers to provide advisory services in respect of such Series the Portfolio and may delegate to such investment sub-adviser(s) the responsibilities described in subparagraphs (b), (c), (d) and (e) above. In the event that an investment sub-adviser's ’s engagement has been terminated, the Adviser shall be responsible for furnishing such Series the Portfolio with the services required to be performed by such investment sub-adviser(s) under the applicable investment sub-advisory agreements or arranging for a successor investment sub-adviser(s) to provide such services on terms and conditions acceptable to such Series the Portfolio and the Series' Fund’s Board of Trustees Directors and subject to the requirements of the 1940 Act.

Services as Investment Adviser. Subject to the supervision and direction of the Board of Trustees of each Series and Fundthe Trust, the Adviser will (a) act in strict conformity with the Funds' Agreements and Declarations Trust's Declaration of Trust, the Investment Company Act of 1940 (the "1940 Act") and the Investment Advisers Act of 1940, as the same may from time to time be amended, (b) manage such Series' or Fundthe Portfolio's assets in accordance with such Series' or Fundthe Portfolio's investment objective and policies as stated in the Funds' Prospectuses Trust's Prospectus and SAIsSAI relating to the Portfolio, (c) make investment decisions for such Series or Fundthe Portfolio, (d) place purchase and sale orders for securities on behalf of such Series or Fundthe Portfolio, (e) exercise voting rights in respect of portfolio securities and other investments for such Series or Fundthe Portfolio, and (f) monitor and evaluate the services provided by such Series' or Fundthe Portfolio's investment sub-adviser(s), if any, under the terms of the applicable investment sub-advisory agreement(s). In providing those services, the Adviser will provide investment research and supervision of such Series' or Fundthe Portfolio's investments and conduct a continual program of investment, evaluation and, if appropriate, sale and reinvestment of such Series' or Fundthe Portfolio's assets. In addition, the Adviser will furnish each Series and Fund the Trust with whatever statistical information such Series or Fund the Trust may reasonably request with respect to the securities that such Series or Fund the Portfolio may hold or contemplate purchasing. Subject to the approval of the Board of Trustees of each of the Series Funds Trust and where required, such Series Fundthe Trust's shareholders, the Adviser may engage an investment sub-adviser or sub-advisers to provide advisory services in respect of such Series the Portfolio and may delegate to such investment sub-adviser(s) the responsibilities described in subparagraphs (b), (c), (d) and (e) above. In the event that an investment sub-adviser's engagement has been terminated, the Adviser shall be responsible for furnishing such Series the Portfolio with the services required to be performed by such investment sub-adviser(s) under the applicable investment sub-advisory agreements or arranging for a successor investment sub-adviser(s) to provide such services on terms and conditions acceptable to such Series the Portfolio and the Series' Trust's Board of Trustees and subject to the requirements of the 1940 Act.

Services as Investment Adviser. Subject to the supervision and direction of the Board of Trustees of each Series and Fund, the Adviser will (a) act in strict conformity with the Funds' Agreements and Declarations of Trust, the Investment Company Act of 1940 (the "1940 Act") and the Investment Advisers Act of 1940, as the same may from time to time be amended, (b) manage such Series' or Fund's assets in accordance with such Series' or Fund's investment objective and policies as stated in the Funds' Prospectuses and SAIs, (c) make investment decisions for such Series or Fund, (d) place purchase and sale orders for securities on behalf of such Series or Fund, (e) exercise voting rights in respect of portfolio securities and other investments for such Series or Fund, and (f) monitor and evaluate the services provided by such Series' or Fund's investment sub-adviser(s), if any, under the terms of the applicable investment sub-advisory agreement(s). In providing those services, the Adviser will provide investment research and supervision of such Series' or Fund's investments and conduct a continual program of investment, evaluation and, if appropriate, sale and reinvestment of such Series' or Fund's assets. In addition, the Adviser will furnish each Series and Fund with whatever statistical information such Series or Fund may reasonably request with respect to the securities that such Series or Fund may hold or contemplate purchasing. Subject to the approval of the Board of Trustees of each of the Series Funds and where required, such Series Fund's shareholders, the Adviser may engage an investment sub-adviser or sub-advisers to provide advisory services in respect of such Series and may delegate to such investment sub-adviser(s) the responsibilities described in subparagraphs (b), (c), (d) and (e) above. In the event that an investment sub-adviser's engagement has been terminated, the Adviser shall be responsible for furnishing such Series with the services required to be performed by such investment sub-adviser(s) under the applicable investment sub-advisory agreements or arranging for a successor uccessor investment sub-adviser(s) to provide such services on terms and conditions acceptable to such Series and the Series' Board of Trustees and subject to the requirements of the 1940 Act.

Services as Investment Adviser. Subject to the supervision and direction of the Board of Trustees of each Series and Fund, the Adviser will (a) act in strict conformity with the Funds' ’ Agreements and Declarations of Trust, the Investment Company Act of 1940 (the "“1940 Act"”) and the Investment Advisers Act of 1940, as the same may from time to time be amended, (b) manage such Series' ’ or Fund's ’s assets in accordance with such Series' ’ or Fund's ’s investment objective and policies as stated in the Funds' ’ Prospectuses and SAIs, (c) make investment decisions for such Series or Fund, (d) place purchase and sale orders for securities on behalf of such Series or Fund, (e) exercise voting rights in respect of portfolio securities and other investments for such Series or Fund, and and (f) monitor and evaluate the services provided by such Series' ’ or Fund's ’s investment sub-adviser(s), if any, under the terms of the applicable investment sub-advisory agreement(s). In providing those services, the Adviser will provide investment research and supervision of such Series' ’ or Fund's ’s investments and conduct a continual program of investment, evaluation and, if appropriate, sale and reinvestment of such Series' ’ or Fund's ’s assets. In addition, the Adviser will furnish each Series and Fund with whatever statistical information such Series or Fund may reasonably request with respect to the securities that such Series or Fund may hold or contemplate purchasing. Subject to the approval of the Board of Trustees of each of the Series Funds and where required, such Series Fund's ’s shareholders, the Adviser may engage an investment sub-adviser or sub-advisers to provide advisory services in respect of such Series and may delegate to such investment sub-adviser(s) the responsibilities described in subparagraphs (b), (c), (d) and (e) above. In the event that an investment sub-adviser's ’s engagement has been terminated, the Adviser shall be responsible for furnishing such Series with the services required to be performed by such investment sub-adviser(s) under the applicable investment sub-advisory agreements or arranging for a successor investment sub-adviser(s) to provide such services on terms and conditions acceptable to such Series and the Series' ’ Board of Trustees and subject to the requirements of the 1940 Act.

Services as Investment Adviser. Subject to the supervision and direction of the Board of Trustees Directors of each Series and the Fund, the Adviser will (a) act in strict conformity with the Funds' Agreements and Declarations Fund's Articles of TrustIncorporation, the Investment Company Act of 1940 (the "1940 Act") and the Investment Advisers Act of 1940, as the same may from time to time be amended, (b) manage such Series' or the Fund's assets in accordance with such Series' or the Fund's investment objective and policies as stated in the Funds' Prospectuses Fund's Prospectus and SAIsSAI, (c) make general investment decisions for the Fund, including decisions concerning (i) the specific types of securities to be held by the Fund and the proportion of the Fund's assets that should be allocated to such Series investments during particular market cycles, (ii) the specific issuers whose securities will be purchased or sold by the Fund, (iii) the appropriate maturity of its portfolio investments and (iv) the appropriate average weighted maturity of its portfolio in light of current market conditions, (d) place purchase and sale orders for securities on behalf of such Series or Fund, (e) exercise voting rights in respect of portfolio securities and other investments for such Series or the Fund, and (fe) monitor and evaluate the services provided by such Series' or the Fund's investment sub-sub- adviser(s), if any, under the terms of the applicable investment sub-advisory agreement(s). In providing those services, the Adviser will provide investment research and supervision of such Series' or the Fund's investments and conduct a continual program of investment, evaluation and, if appropriate, sale and reinvestment of such Series' or the Fund's assets. In addition, the Adviser will furnish each Series and the Fund with whatever statistical information such Series or the Fund may reasonably request with respect to the securities that such Series or the Fund may hold or contemplate purchasing. Subject to the approval of the Board of Trustees of each Directors of the Series Funds Fund and where required, such Series the Fund's shareholders, the Adviser may engage an investment sub-adviser or sub-advisers to provide advisory services in respect of such Series the Fund and may delegate to such investment sub-adviser(s) the responsibilities described in subparagraphs (b), (c), (d) and (ed) above. In the event that an investment sub-adviser's engagement has been terminated, the Adviser shall be responsible for furnishing such Series the Fund with the services required to be performed by such investment sub-sub- adviser(s) under the applicable investment sub-advisory agreements or arranging for a successor investment sub-adviser(s) to provide such services on terms and conditions acceptable to such Series the Fund and the Series' Fund's Board of Trustees Directors and subject to the requirements of the 1940 Act.

Services as Investment Adviser. Subject to the supervision and direction of the Board of Trustees of each Series and Fundthe Trust, the Adviser will (a) act in strict conformity with the Funds' Agreements and Declarations Trust’s Declaration of Trust, the Investment Company Act of 1940 (the "“1940 Act"”) and the Investment Advisers Act of 1940, as the same may from time to time be amended, (b) manage such Series' or the Fund's ’s assets in accordance with such Series' or the Fund's ’s investment objective objectives and policies as stated in the Funds' Prospectuses Trust’s Prospectus and SAIsSAI relating to the Fund, (c) make investment decisions for such Series or the Fund, (d) place purchase and sale orders for securities on behalf of such Series or the Fund, (e) exercise voting rights in respect of portfolio securities and other investments for such Series or the Fund, and (f) monitor and evaluate the services provided by such Series' or the Fund's ’s investment sub-adviser(s), if any, under the terms of the applicable investment sub-advisory agreement(s). In providing those services, the Adviser will provide investment research and supervision of such Series' or the Fund's ’s investments and conduct a continual program of investment, evaluation and, if appropriate, sale and reinvestment of such Series' or the Fund's ’s assets. In addition, the Adviser will furnish each Series and Fund the Trust with whatever statistical information such Series or Fund the Trust may reasonably request with respect to the securities that such Series or the Fund may hold or contemplate purchasing. Subject to the approval of the Board of Trustees of each of the Series Funds Trust and where required, such Series Fund's the Trust’s shareholders, the Adviser may engage an investment sub-adviser or sub-advisers to provide advisory services in respect of such Series the Fund and may delegate to such investment sub-adviser(s) the responsibilities described in subparagraphs (b), (c), (d) and (e) above. In the event that an investment sub-adviser's ’s engagement has been terminated, the Adviser shall be responsible for furnishing such Series the Fund with the services required to be performed by such investment sub-adviser(s) under the applicable investment sub-advisory agreements or arranging for a successor investment sub-adviser(s) to provide such services on terms and conditions acceptable to such Series the Fund and the Series' Trust’s Board of Trustees and subject to the requirements of the 1940 Act.

Services as Investment Adviser. Subject to the supervision and direction of the Board of Trustees of each Series and the Fund, the Adviser will (a) act in strict conformity with the Funds' Agreements and Declarations of TrustFund's Trust Instrument, the Investment Company Act of 1940 1940, as amended, (the "1940 Act") and the Investment Advisers Act of 1940, as the same may from time to time be amended, (b) manage such each Series' or Fund's assets in accordance with such Series' or Fund's investment objective and policies as stated in the FundsSeries' Prospectuses Prospectus and SAIsSAI, (c) make investment decisions for such Series or Fundeach Series, (d) place purchase and sale orders for securities on behalf of such Series or Fundeach Series, (e) exercise voting rights in respect of portfolio securities and other investments for such Series or Fundeach Series, and (f) monitor and evaluate the services provided by such each Series' or Fund's investment sub-adviser(s), if any, under the terms of the applicable investment sub-advisory agreement(s)agreement. In providing those services, the Adviser will provide investment research and supervision of such each Series' or Fund's investments and conduct a continual program of investment, evaluation and, if appropriate, sale and reinvestment of such Series' or Fund's assets. In addition, the Adviser will furnish each Series and Fund with whatever statistical information such Series or the Fund may reasonably request with respect to the securities that such Series or Fund may hold or contemplate purchasing. Subject to the approval of the Board of Trustees of each of the Series Funds and Fund and, where required, such Series Fund's the Series' shareholders, the Adviser may engage an investment sub-adviser or sub-advisers to provide advisory services in respect of such a Series and may delegate to such investment sub-adviser(s) the responsibilities described in subparagraphs (b), (c), (d) and (e) above. In the event that an investment sub-adviser's engagement has been terminated, the Adviser shall be responsible for furnishing such each Series with the services required to be performed by such investment sub-adviser(s) under the applicable investment sub-advisory agreements agreement(s) or arranging for a successor investment sub-adviser(s) to provide such services on terms and conditions acceptable to such the Series and the Series' Fund's Board of Trustees and subject to the requirements of the 1940 Act.

Services as Investment Adviser. Subject to the supervision and direction of the Board of Trustees Directors of each Series and the Fund, the Adviser will (a) act in strict conformity with the Funds' Agreements and Declarations Fund’s Articles of TrustIncorporation, the Investment Company Act of 1940 (the "“1940 Act"”) and the Investment Advisers Act of 1940, as the same may from time to time be amendedamended (the “Advisers Act”), (b) manage such Series' or the Fund's ’s assets in accordance with such Series' or the Fund's ’s investment objective and policies as stated in the Funds' Prospectuses Fund’s Prospectus and SAIsSAI, (c) make investment decisions for such Series or the Fund, (d) place purchase and sale orders for securities on behalf of such Series or the Fund, (e) exercise voting rights in respect of portfolio securities and other investments for such Series or the Fund, and (f) monitor f)monitor and evaluate the services provided by such Series' or the Fund's ’s investment sub-adviser(s), if any, under the terms of the applicable investment sub-advisory agreement(s)agreement. In providing those services, the Adviser will provide investment research and supervision of such Series' or the Fund's ’s investments and conduct a continual program of investment, evaluation and, if appropriate, sale and reinvestment of such Series' or the Fund's ’s assets. In addition, the Adviser will furnish each Series and the Fund with whatever statistical information such Series or the Fund may reasonably request with respect to the securities that such Series or the Fund may hold or contemplate purchasing. Subject to the approval of the Board of Trustees of each Directors of the Series Funds and Fund and, where requiredrequired by law, such Series the Fund's ’s shareholders, the Adviser may engage an investment sub-adviser or sub-advisers to provide advisory services in respect of such Series the Fund and may delegate to such investment sub-adviser(s) the responsibilities described in subparagraphs (b), (c), (d) and (e) above. In the event that an investment sub-adviser's ’s engagement has been terminated, the Adviser shall be responsible for furnishing such Series the Fund with the services required to be performed by such investment sub-adviser(s) under the applicable investment sub-advisory agreements agreement(s) or arranging for a successor investment sub-adviser(s) to provide such services on terms and conditions acceptable to such Series the Fund and the Series' Fund’s Board of Trustees Directors and subject to the requirements of the 1940 Act.

Services as Investment Adviser. Subject to the supervision and direction of the Board of Trustees of each Series and Fundthe Trust, the Adviser will (a) act in strict conformity conformity-with the Funds' Agreements and Declarations Trust's Declaration of Trust, the Investment Company Act of 1940 (the "1940 Act") and the Investment Advisers Act of 1940, as the same may from time to time be amended, (b) manage such Series' or Fundthe Portfolio's assets in accordance with such Series' or Fundthe Portfolio's investment objective and policies as stated in the Funds' Prospectuses Trust's Prospectus and SAIsSAI relating to the Portfolio, (c) make investment decisions for such Series or Fundthe Portfolio, (d) place purchase and sale orders for securities on behalf of such Series or Fundthe Portfolio, (e) exercise voting rights in respect of portfolio securities and other investments for such Series or Fundthe Portfolio, and (f) monitor and evaluate the services provided by such Series' or Fundthe Portfolio's investment sub-adviser(s), if any, under the terms of the applicable investment sub-advisory agreement(s). In providing those services, the Adviser will provide investment research and supervision of such Series' or Fundthe Portfolio's investments and conduct a continual program of investment, evaluation and, if appropriate, sale and reinvestment of such Series' or Fundthe Portfolio's assets. In addition, the Adviser will furnish each Series and Fund the Trust with whatever statistical information such Series or Fund the Trust may reasonably request with respect to the securities that such Series or Fund the Portfolio may hold or contemplate purchasing. Subject to the approval of the Board of Trustees of each of the Series Funds Trust and where required, such Series Fundthe Trust's shareholders, the Adviser may engage an investment sub-adviser or sub-advisers to provide advisory services in respect of such Series the Portfolio and may delegate to such investment sub-adviser(ssubadviser(s) the responsibilities described in subparagraphs (b), (c), (d) and (e) above. In the event that an investment sub-adviser's engagement has been terminated, the Adviser shall be responsible for furnishing such Series the Portfolio with the services required to be performed by such investment sub-adviser(s) under the applicable investment sub-advisory agreements or arranging for a successor investment sub-adviser(s) to provide such services on terms and conditions acceptable to such Series the Portfolio and the Series' Trust's Board of Trustees and subject to the requirements of the 1940 Act.

Services as Investment Adviser. Subject to the supervision and direction of the Board of Trustees Directors of each Series and the Fund, the Adviser will will (a) act in strict conformity with the Funds' Agreements and Declarations Fund's Articles of TrustIncorporation, the Investment Company Act of 1940 (the "1940 Act") and the Investment Advisers Act of 1940, as the same may from time to time be amended, (b) manage such Series' or Fundthe Portfolio's assets in accordance with such Series' or Fundthe Portfolio's investment objective and policies as stated in the Funds' Prospectuses Fund's Prospectus and SAIsSAI relating to the Portfolio, (c) make investment decisions for such Series or Fundthe Portfolio, (d) place purchase and sale orders for securities on behalf of such Series or Fundthe Portfolio, (e) exercise voting rights in respect of portfolio securities and other investments for such Series or Fundthe Portfolio, and (f) monitor and evaluate the services provided by such Series' or Fundthe Portfolio's investment sub-adviser(s), if any, under the terms of the applicable investment sub-advisory agreement(s). In providing those services, the Adviser will provide investment research and supervision of such Series' or Fundthe Portfolio's investments and conduct a continual program of investment, evaluation and, if appropriate, sale and reinvestment of such Series' or Fundthe Portfolio's assets. In addition, the Adviser will furnish each Series and the Fund with whatever statistical information such Series or the Fund may reasonably request with respect to the securities that such Series or Fund the Portfolio may hold or contemplate purchasing. Subject to the approval of the Board of Trustees of each Directors of the Series Funds Fund and where required, such Series the Fund's shareholders, the Adviser may engage an investment sub-adviser or sub-advisers to provide advisory services in respect of such Series the Portfolio and may delegate to such investment sub-adviser(s) the responsibilities described in subparagraphs (b), (c), (d) and (e) above. In the event that an investment sub-adviser's engagement has been terminated, the Adviser shall be responsible for furnishing such Series the Portfolio with the services required to be performed by such investment sub-adviser(s) under the applicable investment sub-advisory agreements or arranging for a successor investment sub-adviser(s) to provide such services on terms and conditions acceptable to such Series the Portfolio and the Series' Fund's Board of Trustees Directors and subject to the requirements of the 1940 Act.

Services as Investment Adviser. Subject to the supervision and direction of the Board of Trustees Directors of each Series and the Fund, the Adviser will (a) act in strict conformity with the Funds' Agreements and Declarations Fund's Articles of TrustIncorporation, the Investment Company Act of 1940 (the "1940 Act") and the Investment Advisers Act of 1940, as the same may from time to time be amended, (b) manage such Series' or Fundthe Portfolio's assets in accordance with such Series' or Fundthe Portfolio's investment objective and policies as stated in the Funds' Prospectuses Fund's Prospectus and SAIsSAI relating to the Portfolio, (c) make investment decisions for such Series or Fundthe Portfolio, (d) place purchase and sale orders for securities on behalf of such Series or Fundthe Portfolio, (e) exercise voting rights in respect of portfolio securities and other investments for such Series or Fundthe Portfolio, and (f) monitor and evaluate the services provided by such Series' or Fundthe Portfolio's investment sub-adviser(s), if any, under the terms of the applicable investment sub-advisory agreement(s). In providing those services, the Adviser will provide investment research and supervision of such Series' or Fundthe Portfolio's investments and conduct a continual program of investment, evaluation and, if appropriate, sale and reinvestment of such Series' or Fundthe Portfolio's assets. In addition, the Adviser will furnish each Series and the Fund with whatever statistical information such Series or the Fund may reasonably request with respect to the securities that such Series or Fund the Portfolio may hold or contemplate purchasing. Subject to the approval of the Board of Trustees of each Directors of the Series Funds Fund and where required, such Series the Fund's shareholders, the Adviser may engage an investment sub-adviser or sub-advisers to provide advisory services in respect of such Series the Portfolio and may delegate to such investment sub-adviser(s) the 2 responsibilities described in subparagraphs (b), (c), (d) and (e) above. In the event that an investment sub-adviser's engagement has been terminated, the Adviser shall be responsible for furnishing such Series the Portfolio with the services required to be performed by such investment sub-adviser(s) under the applicable investment sub-advisory agreements or arranging for a successor investment sub-adviser(s) to provide such services on terms and conditions acceptable to such Series the Portfolio and the Series' Fund's Board of Trustees Directors and subject to the requirements of the 1940 Act.

Services as Investment Adviser. Subject to the supervision and direction of the Board of Trustees Directors of each Series and the Fund, the Adviser will (a) act in strict conformity with the Funds' Agreements and Declarations Fund's Articles of TrustIncorporation, the Investment Company Act of 1940 (the "1940 Act") and the Investment Advisers Act of 1940, as the same may from time to time be amended, (b) manage such Series' or the Fund's assets in accordance with such Series' or the Fund's investment objective and policies as stated in the Funds' Prospectuses Fund's Prospectus and SAIsSAI, (c) make general investment decisions for the Fund, including decisions concerning (i) the specific types of securities to be held by the Fund and the proportion of the Fund's assets that should be allocated to such Series investments during particular market cycles, (ii) the specific issuers whose securities will be purchased or sold by the Fund, (iii) the appropriate maturity of its portfolio investments and (iv) the appropriate average weighted maturity of its portfolio in light of current market conditions, (d) place purchase and sale orders for securities on behalf of such Series or Fund, (e) exercise voting rights in respect of portfolio securities and other investments for such Series or the Fund, and (fe) monitor and evaluate the services provided by such Series' or the Fund's investment sub-sub- adviser(s), if any, under the terms of the applicable investment sub-advisory agreement(s). In providing those services, the Adviser will provide investment research and supervision of such Series' or the Fund's investments and conduct a continual program of investment, evaluation and, if appropriate, sale and reinvestment of such Series' or the Fund's assets. In addition, the Adviser will furnish each Series and the Fund with whatever statistical information such Series or the Fund may reasonably request with respect to the securities that such Series or the Fund may hold or contemplate purchasing. Subject to the approval of the Board of Trustees of each Directors of the Series Funds Fund and where required, such Series the Fund's shareholders, the Adviser may engage an investment sub-adviser or sub-advisers to provide advisory services in respect of such Series the Fund and may delegate to such investment sub-adviser(s) the responsibilities described in subparagraphs (b), (c), and (d) and (e) above. In the event that an investment sub-adviser's engagement has been terminated, the Adviser shall be responsible for furnishing such Series the Fund with the services required to be performed by such investment sub-sub- adviser(s) under the applicable investment sub-advisory agreements or arranging for a successor investment sub-adviser(s) to provide such services on terms and conditions acceptable to such Series the Fund and the Series' Fund's Board of Trustees Directors and subject to the requirements of the 1940 Act.

Services as Investment Adviser. Subject to the supervision and direction of the Board of Trustees Directors of each Series and the Fund, the Adviser will (a) act in strict conformity with the Funds' Agreements and Declarations Fund's Articles of TrustIncorporation, the Investment Company Act of 1940 (the "1940 Act") and the Investment Advisers Act of 1940, as the same may from time to time be amendedamended (the "Advisers Act"), (b) manage such Series' or the Fund's assets in accordance with such Series' or the Fund's investment objective and policies as stated in the Funds' Prospectuses Fund's Prospectus and SAIsSAI, (c) make investment decisions for such Series or the Fund, (d) place purchase and sale orders for securities on behalf of such Series or the Fund, (e) exercise voting rights in respect of portfolio securities and other investments for such Series or the Fund, and (f) monitor f)monitor and evaluate the services provided by such Series' or the Fund's investment sub-adviser(s), if any, under the terms of the applicable investment sub-advisory agreement(s)agreement. In providing those services, the Adviser will provide investment research and supervision of such Series' or the Fund's investments and conduct a continual program of investment, evaluation and, if appropriate, sale and reinvestment of such Series' or the Fund's assets. In addition, the Adviser will furnish each Series and the Fund with whatever statistical information such Series or the Fund may reasonably request with respect to the securities that such Series or the Fund may hold or contemplate purchasing. Subject to the approval of the Board of Trustees of each Directors of the Series Funds and Fund and, where requiredrequired by law, such Series the Fund's shareholders, the Adviser may engage an investment sub-adviser or sub-advisers to provide advisory services in respect of such Series the Fund and may delegate to such investment sub-sub- adviser(s) the responsibilities described in subparagraphs (b), (c), (d) and (e) above. In the event that an investment sub-adviser's engagement has been terminated, the Adviser shall be responsible for furnishing such Series the Fund with the services required to be performed by such investment sub-adviser(s) under the applicable investment sub-advisory agreements agreement(s) or arranging for a successor investment sub-adviser(s) to provide such services on terms and conditions acceptable to such Series the Fund and the Series' Fund's Board of Trustees Directors and subject to the requirements of the 1940 Act.

Services as Investment Adviser. Subject to the supervision and direction of the Board of Trustees Directors of each Series and the Fund, the Adviser will (a) act in strict conformity with the Funds' Agreements and Declarations Fund's Articles of TrustIncorporation, the Investment Company Act of 1940 (the "1940 Act") and the Investment Advisers Act of 1940, as the same may from time to time be amended, (b) manage such Series' or the Fund's assets in accordance with such Series' or the Fund's investment objective and policies as stated in the Funds' Prospectuses Fund's Prospectus and SAIsSAI, (c) make general investment decisions for the Fund, including decisions concerning (i) the specific types of securities to be held by the Fund and the proportion of the Fund's assets that should be allocated to such Series investments during particular market cycles, (ii) the specific issuers whose securities will be purchased or sold by the Fund, (iii) the appropriate maturity of its portfolio investments and (iv) the appropriate average weighted maturity of its portfolio in light of current market conditions, (d) place purchase and sale orders for securities on behalf of such Series or Fund, (e) exercise voting rights in respect of portfolio securities and other investments for such Series or the Fund, and (fe) monitor and evaluate the services provided by such Series' or the Fund's investment sub-adviser(s), if any, under the terms of the applicable investment sub-advisory agreement(s). In providing those services, the Adviser will provide investment research and supervision of such Series' or the Fund's investments and conduct a continual program of investment, evaluation and, if appropriate, sale and reinvestment of such Series' or the Fund's assets. In addition, the Adviser will furnish each Series and the Fund with whatever statistical information such Series or the Fund may reasonably request with respect to the securities that such Series or the Fund may hold or contemplate purchasing. Subject to the approval of the Board of Trustees of each Directors of the Series Funds Fund and where required, such Series the Fund's shareholders, the Adviser may engage an investment sub-adviser or sub-advisers to provide advisory services in respect of such Series the Fund and may delegate to such investment sub-adviser(s) the responsibilities described in subparagraphs (b), (c), (d) and (ed) above. In the event that an investment sub-adviser's engagement has been terminated, the Adviser shall be responsible for furnishing such Series the Fund with the services required to be performed by such investment sub-adviser(s) under the applicable investment sub-advisory agreements or arranging for a successor investment sub-adviser(s) to provide such services on terms and conditions acceptable to such Series the Fund and the Series' Fund's Board of Trustees Directors and subject to the requirements of the 1940 Act.