Common use of Services of the Adviser Clause in Contracts

Services of the Adviser. The Fund hereby employs the Adviser, and the Adviser, hereby accepts such employment, to render investment advice and investment management services with respect to the assets of the Series, subject to the supervision and direction of the Board. The Adviser, shall, as part of its duties hereunder (i) furnish the Series with advice and recommendations with respect to the investment of the Series’ assets and the purchase and sale of such assets, including the taking of such other steps as may be necessary to implement such advice and recommendations, (ii) furnish the Series with reports, statements and other data on securities, economic conditions and other pertinent subjects which the Board may request, (iii) permit its officers and employees to serve without compensation as Trustees of the Trust, if elected to such positions and (iv) in general oversee and manage the investment of the Series, subject to the ultimate supervision and direction of the.