Common use of APPOINTMENT OF THE SUB-ADVISER Clause in Contracts

APPOINTMENT OF THE SUB-ADVISER. The Adviser hereby appoints the Sub-Adviser as an investment sub-adviser with respect to the Fund for the period and on the terms set forth in this Agreement. The Adviser may, in its sole discretion, allocate all, only a portion or none of the Fund's assets to the Sub-Adviser for management. The Sub-Adviser will be responsible for the investment of only the assets which the Adviser allocates to the Sub-Adviser for management under this Agreement, plus all investments, reinvestments and proceeds of the sale thereof, including, without limitation, all interest, dividends and appreciation on investments, less depreciation thereof and withdrawals by the Adviser therefrom (the "Managed Portion"). The Adviser shall have the right at any time to increase or decrease the allocation of the Managed Portion to the Sub-Adviser if the Adviser deems such increase or decrease appropriate. The Sub- Adviser accepts that appointment and agrees to render for the Managed Portion the services herein set forth, for the compensation herein provided.

APPOINTMENT OF THE SUB-ADVISER. The Adviser hereby appoints the Sub-Adviser as an investment sub-adviser with respect to the Fund for the period and on the terms set forth in this Agreement. The Adviser may, in its sole discretion, allocate all, only a portion or none of the Fund's ’s assets to the Sub-Adviser for management. The Sub-Adviser will be responsible for the investment of only the assets which the Adviser allocates to the Sub-Adviser for management under this Agreement, plus all investments, reinvestments and proceeds of the sale thereof, including, without limitation, all interest, dividends and appreciation on investments, less depreciation thereof and withdrawals by the Adviser therefrom (the "“Managed Portion"”). The Adviser shall have the right at any time to increase or decrease the allocation of the Managed Portion to the Sub-Adviser if the Adviser deems such increase or decrease appropriate. The Sub- Sub-Adviser accepts that appointment and agrees to render for the Managed Portion the services herein set forth, for the compensation herein provided.

APPOINTMENT OF THE SUB-ADVISER. The Adviser hereby appoints the Sub-Adviser as an investment sub-adviser with respect to the Fund for the period and on the terms set forth in this Agreement. The Adviser may, in its sole discretion, allocate all, only a portion or none of the Fund's assets to the Sub-Sub- Adviser for management. The Sub-Adviser will be responsible for the investment of only the assets which the Adviser allocates to the Sub-Adviser for management under this Agreement, plus all investments, reinvestments and proceeds of the sale thereof, including, without limitation, all interest, dividends and appreciation on investments, less depreciation thereof and withdrawals by the Adviser therefrom (the "Managed Portion"). The Adviser shall have the right at any time to increase or decrease the allocation of the Managed Portion to the Sub-Adviser if the Adviser deems such increase or decrease appropriateappropriate and shall provide notice via email to the Sub-Adviser prior to 9:00 AM EST on the day of any such increase or decrease. The Sub- Sub-Adviser accepts that appointment and agrees to render for the Managed Portion the services herein set forth, for the compensation herein provided.

APPOINTMENT OF THE SUB-ADVISER. The Adviser hereby appoints the Sub-Adviser as an investment sub-adviser with respect to the Fund for the period and on the terms set forth in this Agreement. The Adviser may, in its sole discretion, allocate all, only a portion or none of the Fund's assets to the Sub-Adviser for management. The Sub-Adviser will be responsible for the investment of only the assets which the Adviser allocates to the Sub-Sub- Adviser for management under this Agreement, plus all investments, reinvestments and proceeds of the sale thereof, including, without limitation, all interest, dividends and appreciation on investments, less depreciation thereof and withdrawals by the Adviser therefrom (the "Managed Portion"). The Adviser shall have the right at any time to increase or decrease the allocation of the Managed Portion to the Sub-Adviser if the Adviser deems such increase or decrease appropriate, and shall provide notice via email to the Sub-Adviser during the trading hours on the day of any such increase or decrease. The Sub- Sub-Adviser accepts that appointment and agrees to render for the Managed Portion the services herein set forth, for the compensation herein provided.

APPOINTMENT OF THE SUB-ADVISER. The Adviser hereby appoints the Sub-Adviser as an investment sub-adviser with respect to the Fund for the period and on the terms set forth in this Agreement. The Adviser may, in its sole discretion, allocate all, only a portion or none of the Fund's assets to the Sub-Adviser for management. The Sub-Adviser will be responsible for the investment of only the assets which the Adviser allocates to the Sub-Sub- Adviser for management under this Agreement, plus all investments, reinvestments and proceeds of the sale thereof, including, without limitation, all interest, dividends and appreciation on investments, less depreciation thereof and withdrawals by the Adviser therefrom (the "Managed Portion"). The Adviser shall have the right at any time to increase or decrease the allocation of the Managed Portion to the Sub-Adviser if the Adviser deems such increase or decrease appropriate, and shall provide notice via email to the Sub-Adviser prior to or during the trading hours on the day of any such increase or decrease. The Sub- Sub-Adviser accepts that appointment and agrees to render for the Managed Portion the services herein set forth, for the compensation herein provided.

APPOINTMENT OF THE SUB-ADVISER. The Adviser hereby appoints the Sub-Adviser as an investment sub-adviser with respect to the Fund for the period and on the terms set forth in this Agreement. The Adviser may, in its sole discretion, allocate all, only a portion or none of the Fund's assets to the Sub-Adviser for management. The Sub-Adviser will be responsible for the investment of only the assets which the Adviser allocates to the Sub-Sub- Adviser for management under this Agreement, plus all investments, reinvestments and proceeds of the sale thereof, including, without limitation, all interest, dividends and appreciation on investments, less depreciation thereof and withdrawals by the Adviser therefrom (the "Managed Portion"). The Adviser shall have the right at any time to increase or decrease the allocation of the Managed Portion to the Sub-Adviser if the Adviser deems such increase or decrease appropriateappropriate and shall provide notice via email to the Sub-Adviser prior to 9:00 am (Eastern time) on the day of any such increase or decrease. The Sub- Sub-Adviser accepts that appointment and agrees to render for the Managed Portion the services herein set forth, for the compensation herein provided.

APPOINTMENT OF THE SUB-ADVISER. The Adviser hereby appoints the Sub-Adviser as an investment sub-adviser with respect to the Fund for the period and on the terms set forth in this Agreement. The Adviser may, in its sole discretion, allocate all, only a portion or none of the Fund's assets to the Sub-Adviser for management. The Sub-Sub- Adviser will be responsible for the investment of only the assets which the Adviser allocates to the Sub-Adviser for management under this Agreement, plus all investments, reinvestments and proceeds of the sale thereof, including, without limitation, all interest, dividends and appreciation on investments, less depreciation thereof and withdrawals by the Adviser therefrom (the "Managed Portion"). The Adviser shall have the right at any time upon reasonable advance notice to increase or decrease (which shall not require any advance notice) the allocation of the Managed Portion to the Sub-Sub- Adviser if the Adviser deems such increase or decrease appropriate. The Sub- Sub-Adviser accepts that appointment and agrees to render for the Managed Portion the services herein set forth, for the compensation herein provided. 2.