Common use of Employment of the Sub-adviser Clause in Contracts

Employment of the Sub-adviser. The Fund hereby employs the Sub-Adviser to invest and reinvest the assets of the Portfolios in the manner set forth in Section 2 of this Agreement subject to the direction of Xxxxxx Square Management Corporation (the "Adviser") and the Trustees and the officers of the Fund, for the period, in the manner, and on the terms set forth hereinafter. The Sub-Adviser hereby accepts such employment and agrees during such period to render the services and to assume the obligations herein set forth. The Sub-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 Fund in any way or otherwise be deemed an agent of the Fund.

Employment of the Sub-adviser. The Fund Adviser hereby employs the Sub-Adviser adviser to invest manage the investment and reinvest the assets reinvestment of the Portfolios in the manner set forth in Section 2 of this Agreement Fund’s Non-Option Portfolio, subject to the control and direction of Xxxxxx Square Management Corporation (the "Adviser") and the Trustees and the officers of the Fund’s Board of Trustees (the “Board”), for the period, in the manner, period and on the terms hereinafter set forth hereinafterforth. The Sub-Adviser adviser hereby accepts such employment and agrees during such period period, subject to the oversight of the Board and the Adviser, to render the services and to assume the obligations herein set forthforth for the compensation herein provided. The Sub-Adviser 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 Adviser or the Fund in any way or otherwise be deemed an agent of the Fundway.

Employment of the Sub-adviser. The Fund hereby employs the Sub-Adviser to invest and reinvest the assets of the Portfolios in the manner set forth in Section 2 of this Agreement subject to the direction of Xxxxxx Rodney Square Management Corporation Xxxxxration (the "Adviser") and the Trustees and the officers of the Fund, for the period, in the manner, and on the terms set forth hereinafter. The Sub-Adviser hereby accepts such employment and agrees during such period to render the services and to assume the obligations herein set forth. The Sub-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 Fund in any way or otherwise be deemed an agent of the Fund.