Common use of Retention of Sub-Adviser Clause in Contracts

Retention of Sub-Adviser. Subject to a Series obtaining the initial and periodic approvals required under Section 15 of the 1940 Act, the Manager may retain a sub-adviser, at the Manager's own cost and expense, for the purpose of making investment recommendations and research information available to the Manager. Retention of a sub-adviser shall in no way reduce the responsibilities or obligations of the Manager under this Agreement and the Manager shall be responsible to Trust and the Series for all acts or omissions of the sub-adviser in connection with the performance of the Manager's duties hereunder.