Common use of Sub-Investment Manager Clause in Contracts

Sub-Investment Manager. Notwithstanding any other provision of this Agreement, the Fund and the Manager may agree to the employment of a sub-investment manager to the Fund for the purpose of providing investment management services with respect to the Portfolio, provided that the compensation to be paid to such sub-investment manager shall be the sole responsibility of the Manager and the duties and responsibilities of the sub-investment manager shall be as set forth in a sub-investment management agreement among the Manager, the sub-investment manager and the Fund on behalf of the Portfolio. Any sub-investment manager may (but need not) be affiliated with the Manager. If different sub-investment managers are engaged to provide investment management services with respect to different segments of the Portfolio, the Manager shall determine, in the manner described in the Prospectus, what portion of the assets belonging to the Portfolio shall be managed by each sub-investment manager.

Sub-Investment Manager. Notwithstanding any other provision of this Agreement, the Fund and the Manager may agree to the employment of a sub-investment manager to the Fund for the purpose of providing investment management services with respect to the Portfolio, provided that the compensation to be paid to such sub-investment manager shall be the sole responsibility of the Manager and the duties and responsibilities of the sub-investment manager shall be as set forth in a sub-investment management agreement among the Manager, the sub-investment manager and the Fund on behalf of the Portfolio. Any sub-investment manager may (but need not) be affiliated with the Manager. If different sub-sub- investment managers are engaged to provide investment management services with respect to different segments of the Portfolio, the Manager shall determine, in the manner described in the Prospectus, what portion of the assets belonging to the Portfolio shall be managed by each sub-sub- investment manager.