Common use of EFFECTIVE DATE, DURATION AND TERMINATION OF AGREEMENT Clause in Contracts

EFFECTIVE DATE, DURATION AND TERMINATION OF AGREEMENT. The effective date of this Agreement shall be April 2, 1993. Wherever referred to in this Agreement, the vote or approval of the holders of a majority of the outstanding voting securities of the Fund shall mean the vote of 67% or more of such securities if the holders of more than 50% of such securities are present in person or by proxy or the vote of more than 50% of such securities, whichever is less. Unless sooner terminated as hereinafter provided, this Agreement shall continue in effect only so long as such continuance is specifically approved at least annually (a) by the Board of Directors of the Fund, or with respect to a particular Portfolio by the vote of the holders of a majority of the outstanding voting securities of such Portfolio, and (b) by a majority of the directors who are not interested persons of Advisers or of the Fund cast in person at a meeting called for the purpose of voting on such approval; provided that if a majority of the outstanding voting securities of any of the Portfolios approves this Agreement, this Agreement shall continue in effect with respect to such approving Portfolio whether or not the shareholders of any other Portfolio of the Fund approve this Agreement. This Agreement may be terminated at any time without the payment of any penalty by the vote of the Board of Directors of the Fund or by Advisers upon sixty (60) days written notice to the other party. This Agreement may be terminated with respect to a particular Portfolio at any time without the payment of any penalty by the vote of the holders of a majority of the outstanding voting securities of such Portfolios, upon sixty (60) days written notice to Advisers. Any such termination may be made effective with respect to both the investment advisory and management services provided for in this Agreement or with respect to either of such kinds of services. This Agreement shall automatically terminate in the event of its assignment.

EFFECTIVE DATE, DURATION AND TERMINATION OF AGREEMENT. The effective date of this This Agreement shall be effective on April 21, 19931994. Wherever referred to in this Agreement, the vote or approval of the holders of a majority of the outstanding voting securities of a Series or the Fund shall mean the vote of 67% or more of such securities if the holders of more than 50% of such securities are present in person or by proxy or the vote of more than 50% of such securities, whichever is less. Unless sooner terminated as hereinafter provided, this Agreement shall continue in effect only so long as such continuance is specifically approved at least annually (a) by the Board of Directors of the Fund, or with respect to a particular Portfolio Series, by the vote of the holders of a majority of the outstanding voting securities of such PortfolioSeries, and (b) by a majority of the directors who are not interested persons of Advisers Securities or of the Fund cast in person at a meeting called for the purpose of voting on such approval; provided that that, if a majority of the outstanding voting securities of any of the Portfolios Series approves this Agreement, this Agreement shall continue in effect with respect to such approving Portfolio Series whether or not the shareholders of any other Portfolio Series of the Fund approve this Agreement. This Agreement may be terminated at any time without the payment of any penalty by the vote of the Board of Directors of the Fund or by Advisers the vote of the holders of a majority of the outstanding voting securities of the Fund, or by Securities, upon sixty (60) days written notice to the other party. This Agreement may be terminated with respect to a particular Portfolio Series at any time without the payment of any penalty by the vote of the holders of a majority of the outstanding voting securities of such PortfoliosSeries, upon sixty (60) days written notice to Advisers. Any such termination may be made effective with respect to both the investment advisory and management services provided for in this Agreement or with respect to either of such kinds of servicesSecurities. This Agreement shall automatically terminate in the event of its assignment.

EFFECTIVE DATE, DURATION AND TERMINATION OF AGREEMENT. The effective date of this This Agreement shall be April 2effective as to each Series on May 1, 19931996. Wherever referred to in this Agreement, the vote or approval of the holders of a majority of the outstanding voting securities of a Series or of the Fund shall mean the vote of 67% or more of such securities if the holders of more than 50% of such securities are present in person or by proxy or the vote of more than 50% of such securities, whichever is less. Unless sooner terminated as hereinafter provided, this Agreement shall continue in effect only so long as such continuance is specifically approved at least annually (a) by the Board of Directors of the Fund, or or, with respect to a particular Portfolio Series, by the vote of the holders of a majority of the outstanding voting securities of such PortfolioSeries, and (b) by a majority of the directors who are not interested persons of Advisers or of the Fund cast in person at a meeting called for the purpose of voting on such approval; provided that that, if a majority of the outstanding voting securities of any of the Portfolios Series approves this Agreement, this Agreement shall continue in effect with respect to such approving Portfolio Series whether or not the shareholders of any other Portfolio Series of the Fund approve this Agreement. This Agreement may be terminated at any time without the payment of any penalty by the vote of the Board of Directors of the Fund Fund, or by Advisers Advisers, upon sixty (60) days days' written notice to the other party. This Agreement may be terminated with respect to a particular Portfolio Series at any time without the payment of any penalty by the vote of the holders of a majority of the outstanding voting securities of such PortfoliosSeries, upon sixty (60) days days' written notice to Advisers. Any such termination may be made effective with respect to both the investment advisory and management services provided for in this Agreement or with respect to either of such kinds of services. This Agreement shall automatically terminate in the event of its assignment.

EFFECTIVE DATE, DURATION AND TERMINATION OF AGREEMENT. The effective date of this Agreement shall be April 2February 1, 19931998. Wherever referred to in this Agreement, the vote or approval of the holders of a majority of the outstanding voting securities of the Portfolio or the Fund shall mean the vote of 67% or more of such securities if the holders of more than 50% of such securities are present in person or by proxy or the vote of more than 50% of such securities, whichever is less. Unless sooner terminated as hereinafter provided, this Agreement shall continue in effect only so long as such continuance is specifically approved at least annually (a) by the Board of Directors of the Fund, or with respect to a particular the Portfolio by the vote of the holders of a majority of the outstanding voting securities of such the Portfolio, and (b) by a majority of the directors who are not interested persons of Advisers or of the Fund cast in person at a meeting called for the purpose of voting on such approval; provided that that, if a majority of the outstanding voting securities of any of the Portfolios Portfolio approves this Agreement, this Agreement shall continue in effect with respect to such approving Portfolio whether or not the shareholders of any other Portfolio Portfolios of the Fund approve this Agreement. This Agreement may be terminated at any time without the payment of any penalty by the vote of the Board of Directors of the Fund or by Advisers Advisers, upon sixty (60) days days' written notice to the other party. This Agreement may be terminated with respect to a particular the Portfolio at any time without the payment of any penalty by the vote of the holders of a majority of the outstanding voting securities of such Portfoliosthe Portfolio, upon sixty (60) days days' written notice to Advisers. Any such termination may be made effective with respect to both the investment advisory and management services provided for in this Agreement or with respect to either of such kinds of services. This Agreement shall automatically terminate in the event of its assignment.

EFFECTIVE DATE, DURATION AND TERMINATION OF AGREEMENT. The This Agreement shall become effective with respect to each Fund on the effective date of this Agreement shall be April 2, 1993the post-effective amendment to the Company's Registration Statement on Form N1-A first registering shares of the Funds. Wherever referred to in this Agreement, the vote or approval of the holders of a majority of the outstanding voting securities shares of the a Fund shall mean the lesser of (i) the vote of 67% or more of the voting shares of such securities Fund present at a regular or special meeting of shareholders duly called, if the holders of more than 50% of such securities the Fund's outstanding voting shares are present in person or represented by proxy proxy, or (ii) the vote of more than 50% of the outstanding voting shares of such securities, whichever is lessFund. Unless sooner terminated as hereinafter provided, this Agreement shall continue in effect with respect to each Fund for a period of two years from the date of its execution, and thereafter shall continue in effect only so long as such continuance is specifically approved at least annually (ai) by the Board of Directors of the Fund, Company or with respect to a particular Portfolio by the vote of the holders of a majority of the outstanding voting securities of such Portfoliothe applicable Fund, and (bii) by the vote of a majority of the directors of the Company who are not parties to this Agreement or "interested persons of Advisers or persons", as defined in the Act, of the Fund Adviser, the Sub-Adviser or the Company, cast in person at a meeting called for the purpose of voting on such approval; provided that if a majority of the outstanding voting securities of any of the Portfolios approves this Agreement, this Agreement shall continue in effect with respect to such approving Portfolio whether or not the shareholders of any other Portfolio of the Fund approve this Agreement. This Agreement may be terminated with respect to either Fund at any time time, without the payment of any penalty penalty, by the vote of the Board of Directors of the Fund Company or by Advisers the vote of the holders of a majority of the outstanding shares of the respective Fund, or by the Adviser, upon sixty (60) days written notice to the other party. This Agreement may be terminated with respect to a particular Portfolio at any time without the payment of any penalty by the vote of the holders of a majority of the outstanding voting securities of such Portfolios, upon sixty (60) days written notice to Advisers. Any such termination may be made effective with respect to both the investment advisory and management services provided for in this Agreement or with respect to either of such kinds of services. This Agreement shall automatically terminate in the event of its assignmentassignment as defined in the Investment Company Act of 1940 and the rules thereunder, provided, however, that such automatic termination shall be prevented in a particular case by an order of exemption from the Securities and Exchange Commission or a no-action letter of the Staff of the Commission to the effect that such assignment does not require termination as a statutory or regulatory matter. This Agreement shall automatically terminate with respect to a Fund upon completion of the dissolution, liquidation and winding up of such Fund.

EFFECTIVE DATE, DURATION AND TERMINATION OF AGREEMENT. The This Agreement shall become effective as of the effective date of this Agreement shall be April 2, 1993. the Fund's Registration Statement on Form N-1A. Wherever referred to in this Agreement, the vote or approval of the holders of a majority of the outstanding voting securities or shares of the Fund a Series shall mean the vote of 67% or more of such securities shares if the holders of more than 50% of such securities shares are present in person or by proxy or the vote of more than 50% of such securitiesshares, whichever is less. Unless sooner terminated as hereinafter provided, this Agreement shall continue in effect with respect to each Series for a period of two years from the date of its execution, and thereafter shall continue in effect only so long as such continuance is specifically approved at least annually (a) by the Board of Directors of the Fund, Fund or with respect to a particular Portfolio by the vote of the holders of a majority of the outstanding voting securities of such Portfoliothe applicable Series, and (b) by the vote of a majority of the directors who are not interested persons parties to this Agreement or Interested Persons of Advisers the Adviser or of the Fund Fund, cast in person at a meeting called for the purpose of voting on such approval; provided that if a majority of the outstanding voting securities of any of the Portfolios approves this Agreement, this Agreement shall continue in effect with respect to such approving Portfolio whether or not the shareholders of any other Portfolio of the Fund approve this Agreement. This Agreement may be terminated with respect to any Series at any time without the payment of any penalty by the vote of the Board of Directors of the Fund or by Advisers upon sixty (60) days written notice to the other party. This Agreement may be terminated with respect to a particular Portfolio at any time without the payment of any penalty by the vote of the holders of a majority of the outstanding voting securities of such PortfoliosSeries, or by the Adviser, upon sixty (60) days 60 days' written notice to Advisersthe other party. Any such termination may be made effective with respect to both the investment advisory and management services provided for in this Agreement or with respect to either of such kinds of services. This Agreement shall automatically terminate in the event of its assignmentassignment as defined in the l940 Act and the rules thereunder. This Agreement shall automatically terminate upon completion of the dissolution, liquidation or winding up of the Fund.

EFFECTIVE DATE, DURATION AND TERMINATION OF AGREEMENT. The effective date of this Agreement shall be April 2__, 19932001. Wherever referred to in this Agreement, the vote or approval of the holders of a majority of the outstanding voting securities of a Series or the Fund shall mean the vote of 67% or more of such securities if the holders of more than 50% of such securities are present in person or by proxy or the vote of more than 50% of such securities, whichever is less. Unless sooner terminated as hereinafter provided, this Agreement shall continue in effect only so long as such continuance is specifically approved at least annually (a) by the Board of Directors of the Fund, or with respect to a particular Portfolio Series by the vote of the holders of a majority of the outstanding voting securities of such PortfolioSeries, and (b) by a majority of the directors who are not interested persons of Advisers Investors or of the Fund cast in person at a meeting called for the purpose of voting on such approval; provided that that, if a majority of the outstanding voting securities of any of the Portfolios Series approves this Agreement, this Agreement shall continue in effect with respect to such approving Portfolio Series whether or not the shareholders of any other Portfolio Series of the Fund approve this Agreement. This Agreement may be terminated at any time without the payment of any penalty by the vote of the Board of Directors of the Fund or by Advisers Investors, upon sixty (60) days days' written notice to the other party. This Agreement may be terminated with respect to a particular Portfolio Series at any time without the payment of any penalty by the vote of the holders of a majority of the outstanding voting securities of such PortfoliosSeries, upon sixty (60) days days' written notice to Advisers. Any such termination may be made effective with respect to both the investment advisory and management services provided for in this Agreement or with respect to either of such kinds of servicesInvestors. This Agreement shall automatically terminate in the event of its assignmentassignment as defined by the provisions of the Investment Company Act of 1940.

EFFECTIVE DATE, DURATION AND TERMINATION OF AGREEMENT. The effective date of this Agreement shall be April 2January 31, 19931992. Wherever referred to in this Agreement, the vote or approval of the holders of a majority of the outstanding voting securities of a Portfolio of the Fund shall mean the vote of 67% or more of such securities if the holders of more than 50% of such securities are present in person or by proxy or the vote of more than 50% of such securities, whichever is less. Unless sooner terminated as hereinafter provided, this Agreement shall continue in effect only so long as such continuance is specifically approved at least annually (a) by the Board of Directors of the Fund, or with respect to a particular Portfolio by the vote of the holders of a majority of the outstanding voting securities of such Portfolio, and (b) by a majority of the directors who are not interested persons of Advisers or of the Fund cast in person at a meeting called for the purpose of voting on such approval; provided that that, if a majority of the outstanding voting securities of any of the Portfolios approves this Agreement, this Agreement shall continue in effect with respect to such approving Portfolio whether or not the shareholders of any other Portfolio of the Fund approve this Agreement. This Agreement may be terminated at any time without the payment of any penalty by the vote of the Board of Directors of the Fund or by Advisers Advisers, upon sixty (60) days days' written notice to the other party. This Agreement may be terminated with respect to a particular Portfolio at any time without the payment of any penalty by the vote of the holders of a majority of the outstanding voting securities of such PortfoliosPortfolio, upon sixty (60) days days' written notice to Advisers. Any such termination may be made effective with respect to both the investment advisory and management services provided for in this Agreement or with respect to either of such kinds of services. This Agreement shall automatically terminate in the event of its assignment.

EFFECTIVE DATE, DURATION AND TERMINATION OF AGREEMENT. The effective date of this This Agreement shall be April 2effective as to each Series on May 1, 19931998. Wherever referred to in this Agreement, the vote or approval of the holders of a majority of the outstanding voting securities of a Series or of the Fund shall mean the vote of 6765% or more of such securities if the holders of more than 50% of such securities are present in person or by proxy or the vote of more than 50% of such securities, whichever is less. Unless sooner terminated as hereinafter provided, this Agreement shall continue in effect only so long as such continuance is specifically approved at least annually (a) by the Board of Directors of the Fund, or or, with respect to a particular Portfolio Series, by the vote of the holders of a majority of the outstanding voting securities of such PortfolioSeries, and (b) by a majority of the directors who are not interested persons of Advisers or of the Fund cast in person at a meeting called for the purpose of voting on such approval; provided that that, if a majority of the outstanding voting securities of any of the Portfolios Series approves this Agreement, this Agreement shall continue in effect with respect to such approving Portfolio Series whether or not the shareholders of any other Portfolio Series of the Fund approve this Agreement. This Agreement may be terminated at any time without the payment of any penalty by the vote of the Board of Directors of the Fund fund, or by Advisers Advisers, upon sixty (60) days days' written notice to the other party. This Agreement may be terminated with respect to a particular Portfolio Series at any time without the payment of any penalty by the vote of the holders of a majority of the outstanding voting securities of such PortfoliosSeries, upon sixty (60) days days' written notice to Advisers. Any such termination may be made effective with respect to both the investment advisory and management services provided for in this Agreement or with respect to either of such kinds of services. This Agreement shall automatically terminate in the event of its assignment.

EFFECTIVE DATE, DURATION AND TERMINATION OF AGREEMENT. The effective date of this Agreement as to Fortis Capital Fund shall be April 2January 31, 19931992. Wherever referred to in this Agreement, the vote or approval of the holders of a majority of the outstanding voting securities of a Portfolio or the Fund shall mean the vote of 67% or more of such securities if the holders of more than 50% of such securities are present in person or by proxy or the vote of more than 50% of such securities, whichever is less. Unless sooner terminated as hereinafter provided, this Agreement shall continue in effect only so long as such continuance is specifically approved at least annually (a) by the Board of Directors of the Fund, or with respect to a particular Portfolio by the vote of the holders of a majority of the outstanding voting securities of such Portfolio, and (b) by a majority of the directors who are not interested persons of Advisers or of the Fund cast in person at a meeting called for the purpose of voting on such approval; provided that if a majority of the outstanding voting securities of any of the Portfolios approves this Agreement, this Agreement shall continue in effect with respect to such approving Portfolio whether or not the shareholders of any other Portfolio of the Fund approve this Agreement. This Agreement may be terminated at any time without the payment of any penalty by the vote of the Board of Directors of the Fund or by Advisers upon sixty (60) days days' written notice to the other party. This Agreement may be terminated with respect to a particular Portfolio at any time without the payment of any penalty by the vote of the holders of a majority of the outstanding voting securities of such Portfolios, upon sixty (60) days days' written notice to Advisers. Any such termination may be made effective with respect to both the investment advisory and management services provided for in this Agreement or with respect to either of such kinds of services. This Agreement shall automatically terminate in the event of its assignment.

EFFECTIVE DATE, DURATION AND TERMINATION OF AGREEMENT. The effective date of this Agreement shall be April 2the date first above written. Unless sooner terminated as hereinafter provided, 1993this Agreement shall continue, in effect from year to year, but only so long as such continuance is specifically approved at least annually either: (i) by the vote of a majority of the Board of Directors of the Fund, including the specific approval of a majority of the directors who are not Interested Persons of the Fund or of the Distributor and who have no direct or indirect financial interest in the operation of the Plan, or in any agreements relating to the Plan, cast in person at a meeting called for the purpose of voting on such approval; or (ii) by the vote of the holders of a majority of the outstanding Shares of the Fund; provided that if a majority of the outstanding Shares of any Portfolio votes to approve this Agreement, such approval shall be effective with respect to such Portfolio whether or not the shareholders of any other Portfolio have voted to approve this Agreement. Wherever referred to in this Agreement, the vote or approval of the holders of a majority of the outstanding voting securities Shares of the Fund or any Portfolio of the Fund shall mean (I) the vote of 67% or more of such securities Shares, if the holders of more than 50% of such securities Shares are present in person or by proxy proxy; or (ii) the vote of more than 50% of such securitiesShares, whichever is less. Unless sooner terminated as hereinafter provided, this Agreement shall continue in effect only so long as such continuance is specifically approved at least annually (a) by the Board of Directors of the Fund, or with respect to a particular Portfolio by the vote of the holders of a majority of the outstanding voting securities of such Portfolio, and (b) by a majority of the directors who are not interested persons of Advisers or of the Fund cast in person at a meeting called for the purpose of voting on such approval; provided that if a majority of the outstanding voting securities of any of the Portfolios approves this Agreement, this Agreement shall continue in effect with respect to such approving Portfolio whether or not the shareholders of any other Portfolio of the Fund approve this Agreement. This Agreement may be terminated at any time without the payment of any penalty by (i) the vote of a majority of the members of the Board of Directors of the Fund who are not Interested Persons of the Fund and who have no direct or by Advisers upon sixty (60) days written notice indirect financial interest in the operation of the Plan or in any agreements relating to the other party. This Agreement may be terminated with respect to a particular Portfolio at any time without the payment of any penalty Plan, (ii) by the vote of the holders of a majority of the outstanding voting securities Shares of the Fund (provided that if a majority of the outstanding Shares of any Portfolio votes to terminate this Agreement, such Portfoliostermination shall be effective with respect to such Portfolio whether or not the shareholders of any other Portfolio have voted to terminate this Agreement) or (iii) by the Distributor, upon not more than sixty (60) days days' written notice to Advisers. Any such termination may be made effective with respect to both the investment advisory and management services provided for in this Agreement or with respect to either of such kinds of servicesother party. This Agreement shall automatically terminate in the event of its assignment.

EFFECTIVE DATE, DURATION AND TERMINATION OF AGREEMENT. The effective date of this Agreement shall be April 2March 1, 19931998. Wherever referred to in this Agreement, the vote or approval of the holders of a majority of the outstanding voting securities of the Portfolio or the Fund shall mean the vote of 67% or more of such securities if the holders of more than 50% of such securities are present in person or by proxy or the vote of more than 50% of such securities, whichever is less. Unless sooner terminated as hereinafter provided, this Agreement shall continue in effect only so long as such continuance is specifically approved at least annually (a) by the Board of Directors of the Fund, or with respect to a particular the Portfolio by the vote of the holders of a majority of the outstanding voting securities of such the Portfolio, and (b) by a majority of the directors who are not interested persons of Advisers or of the Fund cast in person at a meeting called for the purpose of voting on such approval; provided that that, if a majority of the outstanding voting securities of any of the Portfolios Portfolio approves this Agreement, this Agreement shall continue in effect with respect to such approving Portfolio whether or not the shareholders of any other Portfolio Portfolios of the Fund approve this Agreement. This Agreement may be terminated at any time without the payment of any penalty by the vote of the Board of Directors of the Fund or by Advisers Advisers, upon sixty (60) days days' written notice to the other party. This Agreement may be terminated with respect to a particular the Portfolio at any time without the payment of any penalty by the vote of the holders of a majority of the outstanding voting securities of such Portfoliosthe Portfolio, upon sixty (60) days days' written notice to Advisers. Any such termination may be made effective with respect to both the investment advisory and management services provided for in this Agreement or with respect to either of such kinds of services. This Agreement shall automatically terminate in the event of its assignment.of

EFFECTIVE DATE, DURATION AND TERMINATION OF AGREEMENT. The effective date of this Agreement as to Fortis Capital Fund shall be April 2January 1, 19931996. Wherever referred to in this Agreement, the vote or approval of the holders of a majority of the outstanding voting securities of a Portfolio or the Fund shall mean the vote of 67% or more of such securities if the holders of more than 50% of such securities are present in person or by proxy or the vote of more than 50% of such securities, whichever is less. Unless sooner terminated as hereinafter provided, this Agreement shall continue in effect only so long as such continuance is specifically approved at least annually (a) by the Board of Directors of the Fund, or with respect to a particular Portfolio by the vote of the holders of a majority of the outstanding voting securities of such Portfolio, and (b) by a majority of the directors who are not interested persons of Advisers or of the Fund cast in person at a meeting called for the purpose of voting on such approval; provided that if a majority of the outstanding voting securities of any of the Portfolios approves this Agreement, this Agreement shall continue in effect with respect to such approving Portfolio whether or not the shareholders of any other Portfolio of the Fund approve this Agreement. This Agreement may be terminated at any time without the payment of any penalty by the vote of the Board of Directors of the Fund or by Advisers upon sixty (60) days days' written notice to the other party. This Agreement may be terminated with respect to a particular Portfolio at any time without the payment of any penalty by the vote of the holders of a majority of the outstanding voting securities of such Portfolios, upon sixty (60) days days' written notice to Advisers. Any such termination may be made effective with respect to both the investment advisory and management services provided for in this Agreement or with respect to either of such kinds of services. This Agreement shall automatically terminate in the event of its assignment.

EFFECTIVE DATE, DURATION AND TERMINATION OF AGREEMENT. The effective date of this Agreement shall be April 2January 31, 19931992. Wherever referred to in this Agreement, the vote or approval of the holders of a majority of the outstanding voting securities of a Portfolio or the Fund shall mean the vote of 67% or more of such securities if the holders of more than 50% of such securities are present in person or by proxy or the vote of more than 50% of such securities, whichever is less. Unless sooner terminated as hereinafter provided, this Agreement shall continue in effect only so long as such continuance is specifically approved at least annually (a) by the Board of Directors of the Fund, or with respect to a particular Portfolio by the vote of the holders of a majority of the outstanding voting securities of such Portfolio, and (b) by a majority of the directors who are not interested persons of Advisers or of the Fund cast in person at a meeting called for the purpose of voting on such approval; provided that that, if a majority of the outstanding voting securities of any of the Portfolios approves this Agreement, this Agreement shall continue in effect with respect to such approving Portfolio whether or not the shareholders of any other Portfolio of the Fund approve this Agreement. This Agreement may be terminated at any time without the payment of any penalty by the vote of the Board of Directors of the Fund or by Advisers Advisers, upon sixty (60) days days' written notice to the other party. This Agreement may be terminated with respect to a particular Portfolio at any time without the payment of any penalty by the vote of the holders of a majority of the outstanding voting securities of such PortfoliosPortfolio, upon sixty (60) days days' written notice to Advisers. Any such termination may be made effective with respect to both the investment advisory and management services provided for in this Agreement or with respect to either of such kinds of services. This Agreement shall automatically terminate in the event of its assignment.

EFFECTIVE DATE, DURATION AND TERMINATION OF AGREEMENT. The effective date of this (a) This Agreement shall be April 2effective as to the Capital Appreciation Portfolio, 1993. Wherever referred to in this AgreementHigh Yield Portfolio, the vote or approval of the holders of a majority of the outstanding voting securities of the Fund shall mean the vote of 67% or more of such securities if the holders of more than 50% of such securities are present in person or by proxy or the vote of more than 50% of such securitiesAsset Allocation Portfolio and Government Total Return Portfolio and each Class thereof on November 14, whichever is less1994. Unless sooner terminated as hereinafter provided, this Agreement shall continue in effect only so long as such continuance is specifically approved at least annually (a) by the Board of Directors of the Fund, or with respect to a particular Portfolio Class by the vote of the holders of a majority of the outstanding voting securities of such PortfolioClass, and (b) by a majority of the directors who are not interested persons of Advisers Investors or of the Fund Fund, cast in person at a meeting called for the purpose of voting on such approval; provided that that, if a majority of the outstanding voting securities of any of the Portfolios Classes approves this Agreement, this Agreement shall continue in effect with respect to such approving Portfolio Class whether or not the shareholders of any other Portfolio Class of the Fund approve this Agreement. (b) This Agreement may be terminated at any time without the payment of any penalty by the vote of the Board of Directors of the Fund or by Advisers Investors, upon sixty (60) days days' written notice to the other party. This Agreement may be terminated with respect to a particular Portfolio Class at any time without the payment of any penalty by the vote of the holders of a majority of the outstanding voting securities of such PortfoliosClass, upon sixty (60) days days' written notice to AdvisersInvestors. Any such termination may be made effective with respect to both the investment advisory and management services provided for in this Agreement or with respect to either of such kinds of services. (c) This Agreement shall automatically terminate in the event of its assignment."

EFFECTIVE DATE, DURATION AND TERMINATION OF AGREEMENT. The effective date of this Agreement shall be April 2effective as to the AMEV Global Growth Portfolio on March 26, 19931991. Wherever referred to in this Agreement, the vote or approval of the holders of a majority of the outstanding voting securities of a Portfolio or the Fund shall mean the vote of 67% or more of such securities if the holders of more than 50% of such securities are present in person or by proxy or the vote of more than 50% of such securities, whichever is less. Unless sooner terminated as hereinafter provided, this Agreement shall continue in effect only so long as such continuance is specifically approved at least annually (a) by the Board of Directors of the Fund, or with respect to a particular Portfolio by the vote of the holders of a majority of the outstanding voting securities of such Portfoliothe Fund, and (b) by a majority of the directors who are not interested persons of Advisers or of the Fund cast in person at a meeting called for the purpose of voting on such approval; provided that that, if a majority of the outstanding voting securities of any of the Portfolios approves this Agreement, this Agreement shall continue in effect with respect to such approving Portfolio whether or not the shareholders of any other Portfolio of the Fund approve this Agreement. This Agreement may be terminated at any time without the payment of any penalty by the vote of the Board of Directors of the Fund Fund, or by Advisers upon sixty (60) days days' written notice to the other party. This Agreement may be terminated with respect to a particular Portfolio at any time without the payment of any penalty by the vote of the holders of a majority of the outstanding voting securities of such PortfoliosPortfolio, upon sixty (60) days days' written notice to Advisers. Any such termination may be made effective with respect to both the investment advisory and management services provided for in this Agreement or with respect to either of such kinds of services. This Agreement shall automatically terminate in the event of its assignment.

EFFECTIVE DATE, DURATION AND TERMINATION OF AGREEMENT. The effective date of this Agreement shall be April 2, 1993. Wherever referred to in this Agreement, the vote or approval of the holders of a majority of the outstanding voting securities of the Fund shall mean the vote of 67% or more of such securities if the holders of more than 50% of such securities are present in person or by proxy or the vote of more than 50% of such securities, whichever is less. Unless sooner terminated as hereinafter provided, this Agreement shall continue in effect only so long for an initial two year term from the date of its execution as such indicated above and thereafter shall continue in effect for successive periods of 12 months thereafter, provided that each continuance is specifically approved at least annually by (a) by the Board of Directors of the Fund, or with respect to a particular Portfolio by the vote of the holders of a majority of the outstanding voting securities Fund's Board of such Portfolio, and (b) by a majority of the directors Trustees who are not parties to the Agreement or interested persons (as defined in the Investment Company Act of Advisers or of 1940, as amended and the Fund rules, regulations and releases relating thereto), cast in person at a meeting called for the purpose of voting on such approval; provided that if approval and (b) either (i) the vote of a majority of the outstanding voting securities of any the Fund or (ii) the vote of a majority of the Portfolios approves this Agreement, this Agreement shall continue in effect with respect to such approving Portfolio whether or not the shareholders Fund's Board of any other Portfolio of the Fund approve this AgreementTrustees. This Agreement may be terminated at any time without the payment of any penalty by the vote of the Board of Directors Trustees of the Fund or by Advisers upon sixty (60) days written notice to the other party. This Agreement may be terminated with respect to a particular Portfolio at any time without the payment of any penalty by the vote of the holders of a majority of the outstanding voting securities shares of such Portfoliosthe Fund, upon sixty (60) days written notice to Advisersthe Adviser. Any such termination The Adviser may be made effective with respect to both the investment advisory and management services provided for in terminate this Agreement or with respect without penalty on ninety (90) days written notice to either of such kinds of servicesthe Fund. This Agreement shall automatically terminate in the event of its assignmentassignment as defined in the Investment Company Act of 1940 and the rules thereunder. This Agreement shall automatically terminate upon completion of the dissolution, liquidation and winding up of the Fund. Wherever referred to in this Agreement, the vote or approval of the holders of a majority of the outstanding shares of the Fund shall mean the vote of 67% or more of such shares if the holders of more than 50% of such shares are present in person or by proxy or the vote of more than 50% of such shares, whichever is less.

EFFECTIVE DATE, DURATION AND TERMINATION OF AGREEMENT. The effective date of this This Agreement shall be April 2effective on December 15, 19932003. Wherever referred to in this Agreement, the vote or approval of the holders of a majority of the outstanding voting securities of a Series or the Fund shall mean the vote of 67% or more of such securities if the holders of more than 50% of such securities are present in person or by proxy or the vote of more than 50% of such securities, whichever is less. Unless sooner terminated as hereinafter provided, this Agreement shall continue in effect only so long as such continuance is specifically approved at least annually (a) by the Board of Directors of the Fund, or with respect to a particular Portfolio Series, by the vote of the holders of a majority of the outstanding voting securities of such PortfolioSeries, and (b) by a majority of the directors who are not interested persons of Advisers Securities or of the Fund cast in person at a meeting called for the purpose of voting on such approval; approval provided that that, if a majority of the outstanding voting securities of any of the Portfolios Series approves this Agreement, this Agreement shall continue in effect with respect to such approving Portfolio Series whether or not the shareholders of any other Portfolio Series of the Fund approve this Agreement. This Agreement may be terminated at any time without the payment of any penalty by the vote of the Board of Directors of the Fund or by Advisers the vote of the holders of a majority of the outstanding voting securities of the Fund, or by Securities, upon sixty (60) days written notice to the other party. This Agreement may be terminated with respect to a particular Portfolio Series at any time without the payment of any penalty by the vote of the holders of a majority of the outstanding voting securities of such PortfoliosSeries, upon sixty (60) days written notice to Advisers. Any such termination may be made effective with respect to both the investment advisory and management services provided for in this Agreement or with respect to either of such kinds of servicesSecurities. This Agreement shall automatically terminate in the event of its assignment.

EFFECTIVE DATE, DURATION AND TERMINATION OF AGREEMENT. The effective date of this This Agreement shall be April 2effective as to each Series on May 1, 19931994. Wherever referred to in this Agreement, the vote or approval of the holders of a majority of the outstanding voting securities of a Series or of the Fund shall mean the vote of 67% or more of such securities if the holders of more than 50% of such securities are present in person or by proxy or the vote of more than 50% of such securities, whichever is less. Unless sooner terminated as hereinafter provided, this Agreement shall continue in effect only so long as such continuance is specifically approved at least annually (a) by the Board of Directors of the Fund, or or, with respect to a particular Portfolio Series, by the vote of the holders of a majority of the outstanding voting securities of such PortfolioSeries, and (b) by a majority of the directors who are not interested persons of Advisers or of the Fund cast in person at a meeting called for the purpose of voting on such approval; provided that that, if a majority of the outstanding voting securities of any of the Portfolios Series approves this Agreement, this Agreement shall continue in effect with respect to such approving Portfolio Series whether or not the shareholders of any other Portfolio Series of the Fund approve this Agreement. This Agreement may be terminated at any time without the payment of any penalty by the vote of the Board of Directors of the Fund Fund, or by Advisers Advisers, upon sixty (60) days days' written notice to the other party. This Agreement may be terminated with respect to a particular Portfolio Series at any time without the payment of any penalty by the vote of the holders of a majority of the outstanding voting securities of such PortfoliosSeries, upon sixty (60) days days' written notice to Advisers. Any such termination may be made effective with respect to both the investment advisory and management services provided for in this Agreement or with respect to either of such kinds of services. This Agreement shall automatically terminate in the event of its assignment.

EFFECTIVE DATE, DURATION AND TERMINATION OF AGREEMENT. The effective date of this Agreement shall be April 2March 3, 19932000. Wherever referred to in this Agreement, the vote or approval of the holders of a majority of the outstanding voting securities of the Fund shall mean the vote of 67% or more of such securities if the holders of more than 50% of such securities are present in person or by proxy or the vote of more than 50% of such securities, whichever is less. Unless sooner terminated as hereinafter provided, this Agreement shall continue in effect only so long as such continuance is specifically approved at least annually (a) by the Board of Directors of the Fund, or or, with respect to a particular Portfolio Series, by the vote of the holders of a majority of the outstanding voting securities of such PortfolioSeries, and (b) by a majority of the directors who are not interested persons of Advisers or of the Fund cast in person at a meeting called for the purpose of voting on such approval; provided that that, if a majority of the outstanding voting securities of any of the Portfolios Series approves this Agreement, this Agreement shall continue remain in effect with respect to such approving Portfolio Series whether or not the shareholders of any other Portfolio Series of the Fund approve this Agreement. This Agreement may be terminated at any time without the payment of any penalty by the vote of the Board of Directors of the Fund Fund, or by Advisers Advisers, upon sixty (60) days written notice to the other party. This Agreement may be terminated with respect to a particular Portfolio Series at any time without the payment of any penalty by the vote of the holders of a majority of the outstanding voting securities of such PortfoliosSeries, upon sixty (60) days days' written notice to Advisers. Any such termination may be made effective with respect to both the investment advisory and management services provided for in this Agreement or with respect to either of such kinds of services. This Agreement shall automatically terminate in the event of its assignment.

EFFECTIVE DATE, DURATION AND TERMINATION OF AGREEMENT. The effective date of this This Agreement shall be effective on April 21, 19931994. Wherever referred to in this Agreement, the vote or approval of the holders of a majority of the outstanding voting securities of a Series or the Fund shall mean the vote of 67% or more of such securities if the holders of more than 50% of such securities are present in person or by proxy or the vote of more than 50% of such securities, whichever is less. Unless sooner terminated as hereinafter provided, this Agreement shall continue in effect only so long as such continuance is specifically approved at least annually (a) by the Board of Directors of the Fund, or with respect to a particular Portfolio Series, by the vote of the holders of a majority of the outstanding voting securities of such PortfolioSeries, and (b) by a majority of the directors who are not interested persons of Advisers Securities or of the Fund cast in person at a meeting called for the purpose of voting on such approval; approval provided that that, if a majority of the outstanding voting securities of any of the Portfolios Series approves this Agreement, this Agreement shall continue in effect with respect to such approving Portfolio Series whether or not the shareholders of any other Portfolio Series of the Fund approve this Agreement. This Agreement may be terminated at any time without the payment of any penalty by the vote of the Board of Directors of the Fund or by Advisers the vote of the holders of a majority of the outstanding voting securities of the Fund, or by Securities, upon sixty (60) days written notice to the other party. This Agreement may be terminated with respect to a particular Portfolio Series at any time without the payment of any penalty by the vote of the holders of a majority of the outstanding voting securities of such PortfoliosSeries, upon sixty (60) days written notice to Advisers. Any such termination may be made effective with respect to both the investment advisory and management services provided for in this Agreement or with respect to either of such kinds of servicesSecurities. This Agreement shall automatically terminate in the event of its assignment.

EFFECTIVE DATE, DURATION AND TERMINATION OF AGREEMENT. The effective date of this Agreement shall be April 2, 1993the date of commencement of the Fund's initial public offering of shares. Wherever referred to in this Agreement, the vote or approval of the holders of a majority of the outstanding voting securities Shares of the Fund or any Portfolio of the Fund shall mean the vote of 67% or more of such securities Shares if the holders of more than 50% of such securities Shares are present in person or by proxy or the vote of more than 50% of such securitiesShares, whichever is less. Unless sooner terminated as hereinafter provided, this Agreement shall continue in effect from year to year after April 30, 1989, but only so long as such continuance is specifically approved at least annually either: (a1) by the Board of Directors of the Fund, or with respect to a particular Portfolio by including the vote specific approval of the holders of a majority of the outstanding voting securities of such Portfolio, and (b) by a majority of the directors who are not interested persons Interested Persons of Advisers the Fund or of the Fund Distributor and who have no direct or indirect financial interest in the operation of the Plan, or in any agreements relating to the Plan, cast in person at a meeting called for the purpose of voting on such approval; or (2) by the vote of the holders of a majority of the outstanding Shares of the Fund; provided that if a majority of the outstanding voting securities Shares of any of the Portfolios approves Portfolio votes to approve this Agreement, this Agreement such approval shall continue in effect be effective with respect to such approving Portfolio whether or not the shareholders of any other Portfolio of the Fund have voted to approve this Agreement. This Agreement may be terminated at any time without the payment of any penalty by the vote of a majority of the members of the Board of Directors of the Fund who are not Interested Persons of the Fund and who have no direct or by Advisers upon sixty (60) days written notice indirect or financial interest in the operation of the Plan or in any agreements relating to the other party. This Agreement may be terminated with respect to a particular Portfolio at any time without the payment of any penalty Plan, by the vote of the holders of a majority of the outstanding voting securities Shares of the Fund (provided that if a majority of the outstanding Shares of any Portfolio votes to terminate this Agreement, such Portfoliostermination shall be effective with respect to such Portfolio whether or not the shareholders of any other Portfolio have voted to terminate this Agreement) or by the Distributor, upon not more than sixty (60) days days' written notice to Advisers. Any such termination may be made effective with respect to both the investment advisory and management services provided for in this Agreement or with respect to either of such kinds of servicesother party. This Agreement shall automatically terminate in the event of its assignment.

EFFECTIVE DATE, DURATION AND TERMINATION OF AGREEMENT. The This Agreement shall become effective with respect to the Fund on the effective date of this Agreement shall be April 2, 1993the post-effective amendment to the Company's Registration Statement on Form N1-A first registering shares of the Fund. Wherever referred to in this Agreement, the vote or approval of the holders of a majority of the outstanding voting securities shares of the Fund shall mean the lesser of (i) the vote of 67% or more of such securities the voting shares of the Fund present at a regular or special meeting of shareholders duly called, if the holders of more than 50% of such securities the Fund's outstanding voting shares are present in person or represented by proxy proxy, or (ii) the vote of more than 50% of such securities, whichever is lessthe outstanding voting shares of the Fund. Unless sooner terminated as hereinafter provided, this Agreement shall continue in effect for a period of two years from the date of its execution, and thereafter shall continue in effect only so long as such continuance is specifically approved at least annually (ai) by the Board of Directors of the Fund, Company or with respect to a particular Portfolio by the vote of the holders of a majority of the outstanding voting securities of such Portfoliothe Fund, and (bii) by the vote of a majority of the directors of the Company who are not parties to this Agreement or "interested persons of Advisers or persons", as defined in the Act, of the Fund Adviser or the Company cast in person at a meeting called for the purpose of voting on such approval; provided that if a majority of the outstanding voting securities of any of the Portfolios approves this Agreement, this Agreement shall continue in effect with respect to such approving Portfolio whether or not the shareholders of any other Portfolio of the Fund approve this Agreement. This Agreement may be terminated at any time time, without the payment of any penalty penalty, by the vote of the Board of Directors of the Fund Company or by Advisers the vote of the holders of a majority of the outstanding shares of the Fund, or by the Adviser, upon sixty (60) days written notice to the other party. This Agreement may be terminated with respect to a particular Portfolio at any time without the payment of any penalty by the vote of the holders of a majority of the outstanding voting securities of such Portfolios, upon sixty (60) days written notice to Advisers. Any such termination may be made effective with respect to both the investment advisory and management services provided for in this Agreement or with respect to either of such kinds of services. This Agreement shall automatically terminate in the event of its assignmentassignment as defined in the Investment Company Act of 1940 and the rules thereunder, provided, however, that such automatic termination shall be prevented in a particular case by an order of exemption from the Securities and Exchange Commission or a no-action letter of the Staff of the Commission to the effect that such assignment does not require termination as a statutory or regulatory matter. This Agreement shall automatically terminate upon completion of the dissolution, liquidation and winding up of the Fund.

EFFECTIVE DATE, DURATION AND TERMINATION OF AGREEMENT. The effective date of this Agreement shall be April 2May 1, 19931996. Wherever referred to in this Agreement, the vote or approval of the holders of a majority of the outstanding voting securities of a Series or the Fund shall mean the vote of 67% or more of such securities if the holders of more than 50% of such securities are present in person or by proxy or the vote of more than 50% of such securities, whichever is less. Unless sooner terminated as hereinafter provided, this Agreement shall continue in effect only so long as such continuance is specifically approved at least annually (a) by the Board of Directors of the Fund, or with respect to a particular Portfolio Series by the vote of the holders of a majority of the outstanding voting securities of such PortfolioSeries, and (b) by a majority of the directors who are not interested persons of Advisers Investors or of the Fund cast in person at a meeting called for the purpose of voting on such approval; provided that that, if a majority of the outstanding voting securities of any of the Portfolios Series approves this Agreement, this Agreement shall continue in effect with respect to such approving Portfolio Series whether or not the shareholders of any other Portfolio Series of the Fund approve this Agreement. This Agreement may be terminated at any time without the payment of any penalty by the vote of the Board of Directors of the Fund or by Advisers Investors, upon sixty (60) days days' written notice to the other party. This Agreement may be terminated with respect to a particular Portfolio Series at any time without the payment of any penalty by the vote of the holders of a majority of the outstanding voting securities of such PortfoliosSeries, upon sixty (60) days days' written notice to Advisers. Any such termination may be made effective with respect to both the investment advisory and management services provided for in this Agreement or with respect to either of such kinds of servicesInvestors. This Agreement shall automatically terminate in the event of its assignmentassignment as defined by the provisions of the Investment Company Act of 1940.

EFFECTIVE DATE, DURATION AND TERMINATION OF AGREEMENT. The effective date of this This Agreement shall be April 2effective as to each Series on January 3, 19931995. Wherever referred to in this Agreement, the vote or approval of the holders of a majority of the outstanding voting securities of a Series or of the Fund shall mean the vote of 67% or more of such securities if the holders of more than 50% of such securities are present in person or by proxy or the vote of more than 50% of such securities, whichever is less. Unless sooner terminated as hereinafter provided, this Agreement shall continue in effect only so long as such continuance is specifically approved at least annually (a) by the Board of Directors of the Fund, or or, with respect to a particular Portfolio Series, by the vote of the holders of a majority of the outstanding voting securities of such PortfolioSeries, and (b) by a majority of the directors who are not interested persons of Advisers or of the Fund cast in person at a meeting called for the purpose of voting on such approval; provided that that, if a majority of the outstanding voting securities of any of the Portfolios Series approves this Agreement, this Agreement shall continue in effect with respect to such approving Portfolio Series whether or not the shareholders of any other Portfolio Series of the Fund approve this Agreement. This Agreement may be terminated at any time without the payment of any penalty by the vote of the Board of Directors of the Fund Fund, or by Advisers Advisers, upon sixty (60) days days' written notice to the other party. This Agreement may be terminated with respect to a particular Portfolio Series at any time without the payment of any penalty by the vote of the holders of a majority of the outstanding voting securities of such PortfoliosSeries, upon sixty (60) days days' written notice to Advisers. Any such termination may be made effective with respect to both the investment advisory and management services provided for in this Agreement or with respect to either of such kinds of services. This Agreement shall automatically terminate in the event of its assignment.