SECOND AMENDMENT TO AMENDED AND RESTATED INVESTMENT SUB-ADVISORY AGREEMENT BETWEEN VERSUS CAPITAL ADVISORS LLC AND CALLAN LLC.
SECOND AMENDMENT TO
AMENDED AND RESTATED INVESTMENT
SUB-ADVISORY AGREEMENT BETWEEN
VERSUS CAPITAL ADVISORS LLC AND
XXXXXX LLC.
THIS SECOND AMENDMENT (the “Amendment”) TO THE AMENDMED AND RESTATED INVESTMENT SUB-ADVISORY AGREEMENT is made this 5th day of November, 2018, by and between VERSUS CAPITAL ADVISORS LLC, a Delaware limited liability company (the "Adviser") and XXXXXX LLC, a California limited liability company (the "Sub-Adviser").
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1.
Section 1 (c) Right of Sub-Adviser. This section will be deleted in its entirety:
Section
1 (c) Right
of Sub-Adviser. Should the Adviser select a new Investment Fund or Investment
Manager that has not been approved by the Sub-Adviser or choose not to
terminate an Investment Manager or Investment Fund that was recommended for
termination by the Sub Adviser, then such action or actions by the Adviser shall
enable the Sub-Adviser to terminate this Agreement "for cause"
pursuant to Section 8 of this Agreement. This section shall in no way be
construed to give the Sub-Adviser any discretion to make investment decisions.
Section 8 (c) Termination Fee. This section will be deleted in its entirety:
Section 8(b) Termination shall be modified as follows:
Section (b) Termination:. This Agreement may be terminated at any time, upon 60 days’ written notice, by (i) the Adviser or (ii) the Sub-Adviser. The Agreement may be terminated at any time, without the payment of any penalty, by (i) vote of the Board; or (ii) vote of a majority of the outstanding voting securities of the Fund (as determined pursuant to Section 2(a)(42) of the 1940 Act), upon not more than 60 days’ written notice to the Sub-Adviser, in accordance with Section 15(a)(3) of the 1940 Act. This Agreement shall automatically terminate in the event of (i) its “assignment” (as such term is defined for purposes of Section 15(a)(4) of the 1940 Act), or (ii) the termination of the Investment Management Agreement. The provisions of Section 6 of this Agreement shall remain in full force and effect, and the Adviser and Sub-Adviser shall remain entitled to the benefits thereof, notwithstanding any termination of this Agreement. The Sub-Adviser shall be entitled to receive all amounts earned and payable to it and not yet paid, pursuant to Section 2 of this Agreement, as of the date of termination.
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2. Except as specifically modified by this Amendment, all terms, conditions and provisions of the Investment Management Agreement will continue in full force and effect. From and after the effective date of this Amendment, all, references to the Investment Management Agreement will be to the Investment Management Agreement as amended by this Amendment.
3. This Amendment shall be governed by and construed in accordance with the Laws of the State of New York.
4. Any conflict arising between this Amendment and the Investment Management Agreement shall be resolved in favor of the terms and intent of this Amendment.
(signatures follow)
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BY THE SIGNATURES affixed below, the above Amendment is hereby accepted as to all the terms and conditions. This Amendment is duly authorized by the legal representatives of the parties herein and the parties are hereby fully bound by the terms of this Amendment. This Amendment may be signed in counterparts and each party when taken together shall create a full and binding document. This Amendment may be signed and signatures transmitted by facsimile or electronic mail (as a .pdf document) and such transmitted signatures shall have the same binding effect as an original signed agreement.
VERSUS CAPITAL ADVISORS LLC
By: /s/
Xxxxxxx X. Xxxx
Name: Xxxxxxx X. Xxxx
Title: President
XXXXXX LLC.
By:
/s/ Xxxx Xxxxxxx
Name: Xxxx Xxxxxxx
Title: EVP
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