Common use of Services of Adviser Clause in Contracts

Services of Adviser. Subject to the supervision of the Fund's Board of Directors, the Adviser will provide a continuous investment program for each Series, including investment research and day-to-day management with respect to such Series' assets. The Adviser will determine from time to time what securities and other investments will be purchased, retained or sold by the Series. The Adviser will provide the services rendered by it under this Agreement in accordance with the investment criteria and policies established from time to time for a Series by the Fund, such Series' investment objective, policies and restrictions as stated in its Prospectus and resolutions of the Fund's Board of Directors. The Fund wishes to be informed of important developments materially affecting a Series' portfolio and the Adviser agrees to furnish to the Fund from time to time such information as the Adviser may believe appropriate for this purpose. The Adviser shall be permitted to employ one or more sub-investment advisers (each a "Sub-Adviser") to provide the day-to-day management of the investments of the Series.