Common use of Employment of the Adviser Clause in Contracts

Employment of the Adviser. The Trust hereby employs the Adviser to provide asset allocation services to the Funds, to manage the investment and reinvestment of the Funds’ assets in investment company and non-investment company securities, to administer certain aspects of their affairs, and to provide or procure, as applicable, the administrative and other services described in Section 2.H. of this Agreement, as may be supplemented from time to time, subject to the direction of the Board of Trustees and the officers of the Trust, for the period and on the terms hereinafter set forth. The Adviser hereby accepts such employment and agrees during such period to render the services and to assume the obligations herein set forth for the compensation herein provided. The Adviser shall for all purposes herein be deemed to be an independent contractor and shall, except as expressly provided or authorized (whether herein or otherwise), have no authority to act for or represent the Funds or the Trust in any way or otherwise be deemed an agent of the Funds or the Trust.

Employment of the Adviser. The Trust hereby employs the Adviser to provide asset allocation services to the FundsFund, to manage the investment and reinvestment of the Funds’ Fund’s assets in investment company and non-investment company securities, to administer certain aspects of their its affairs, and to provide or procure, as applicable, the administrative and other services described in Section 2.H. of this Agreement, as may be supplemented from time to time, subject to the direction of the Board of Trustees and the officers of the Trust, for the period and on the terms hereinafter set forth. The Adviser hereby accepts such employment and agrees during such period to render the services and to assume the obligations herein set forth for the compensation herein provided. The Adviser shall for all purposes herein be deemed to be an independent contractor and shall, except as expressly provided or authorized (whether herein or otherwise), have no authority to act for or represent the Funds Fund or the Trust in any way or otherwise be deemed an agent of the Funds Fund or the Trust.. IMA FFAS – Franklin LifeSmart 2055 Retirement Target Fund 1 # 1341454 v. 1

Employment of the Adviser. The Trust hereby employs the Adviser to provide asset allocation services to the FundsFund, to manage the investment and reinvestment of the Funds’ Fund’s assets in investment company and non-investment company securities, to administer certain aspects of their its affairs, and to provide or procure, as applicable, the administrative and other services described in Section 2.H. of this Agreement, as may be supplemented from time to time, subject to the direction of the Board of Trustees and the officers of the Trust, for the period and on the terms hereinafter set forth. The Adviser hereby accepts such employment and agrees during such period to render the services and to assume the obligations herein set forth for the compensation herein provided. The Adviser shall for all purposes herein be deemed to be an independent contractor and shall, except as expressly provided or authorized (whether herein or otherwise), have no authority to act for or represent the Funds Fund or the Trust in any way or otherwise be deemed an agent of the Funds Fund or the Trust.