Common use of Sub-Advisor Clause in Contracts

Sub-Advisor. It is understood that the Advisor may from time to time employ or associate with itself such person or persons as the Advisor believes to be fitted to assist it in the performance of this Agreement (each a "Sub-Advisor"); provided, however, that the compensation of such person or persons shall be paid by the Advisor and that the Advisor shall be as fully responsible to the Trust for the acts and omissions of any such person as it is for its own acts and omissions; and provided further, that the retention of any Sub-Advisor shall be approved as may be required by the 1940 Act. In the event that any Sub-Advisor appointed hereunder is terminated, the Advisor may provide investment advisory services pursuant to this Agreement to the Funds without further shareholder approval.

Sub-Advisor. It is understood that the Advisor Manager may from time to time employ or associate with itself such person or persons as the Advisor Manager believes to be fitted to assist it in the performance of this Agreement (each a "Sub-Advisor"); provided, however, that the compensation of such person or persons shall be paid by the Advisor Manager and that the Advisor Manager shall be as fully responsible to the Trust for the acts and omissions of any such person as it is for its own acts and omissions; and provided further, that the retention of any Sub-Advisor shall be approved as may be required by the 1940 Act. In the event that any Sub-Advisor appointed hereunder is terminated, the Advisor Manager may provide investment advisory services pursuant to this Agreement to the Funds Trust without further shareholder approval.