Common use of Advisor Personnel Clause in Contracts

Advisor Personnel. The Advisor agrees that only its employees who are registered representatives for the Distributor ("dual employees") or registered representatives of another NASD member firm shall offer or sell Shares of the Portfolios. The Advisor further agrees that the activities of any such employees as registered representatives of the Distributor shall be limited to offering and selling Shares. If there are dual employees, one employee of the Advisor shall register as a principal of the Distributor and assist the Distributor in monitoring the marketing and sales activities of the dual employees. The Advisor shall maintain errors and omissions and fidelity bond insurance policies providing reasonable coverage for its employees' activities and shall provide copies of such policies to the Distributor. The Advisor shall indemnify and hold harmless the Distributor against any and all liabilities, losses, damages, claims and expenses (including reasonable attorneys' fees and disbursements and investigation costs incident thereto) arising from or related to the Advisor's employees' activities as registered representatives, including, without limitation, any and all such liabilities, losses, damages, claims and expenses arising from or related to the breach by such employees of any rules or regulations of the NASD or SEC.

Advisor Personnel. The Advisor agrees that only its employees who are registered representatives for the Distributor ("dual employees") or registered representatives of another NASD member firm shall offer or sell Shares of the Portfolios. The Advisor further agrees that the activities of any such employees as registered representatives of the Distributor shall be limited to offering and selling Shares. If there are dual employees, one employee of the Advisor shall register as a principal of the Distributor and assist the Distributor in monitoring the marketing and sales activities of the dual employees. The Advisor shall maintain errors and omissions and fidelity bond insurance policies providing reasonable coverage for its employees' activities and shall provide copies of such policies to the Distributor. The Advisor Advise shall indemnify and hold harmless the Distributor against any and all liabilities, losses, damages, claims and expenses (including reasonable attorneys' fees and disbursements and investigation costs incident thereto) arising from or related to the Advisor's employees' activities as registered representatives, including, without limitation, any and all such liabilities, losses, damages, claims and expenses arising from or related to the breach by such employees of any rules or regulations of the NASD or SEC.