Common use of Investment Advisory Services and Brokerage Allocation Clause in Contracts

Investment Advisory Services and Brokerage Allocation. (1) The Adviser shall recommend from time to time to the officers and directors of the Company a course of investment for each Fund's assets and portfolio, subject to and in accordance with the investment objectives and policies of the Fund and any directions which the Company's Board of Directors may issue from time to time. The Adviser's recommendations also shall include the manner in which the voting rights, rights to consent to corporate action and any other rights pertaining to the Fund's portfolio securities shall be exercised. Subject to such objectives, policies and directions and subject to the overall supervision of the Board of Directors of the Company, the Adviser shall manage the investment and reinvestment of the assets of each Fund. The Adviser shall render such reports to the Company concerning the investment of each Fund's assets and portfolio as may be required by the Board of Directors of the Company.