Common use of SERVICES TO BE RENDERED BY SUB-ADVISER Clause in Contracts

SERVICES TO BE RENDERED BY SUB-ADVISER. A. As a sub-adviser to the Portfolio(s), the Sub-Adviser will invest and reinvest the assets of the Portfolio(s) and determine the composition of the assets of the Portfolio(s), subject always to the supervision and control of the Adviser and the Trust Board. With respect to the Tactical Index Portfolios (as defined on Appendix A), the Sub-Adviser will provide the Adviser with a recommendation on how best to effect the equity exposure for each Tactical Index Portfolio requested by the Adviser and execute the trading strategy as recommended by the Sub-Adviser and agreed to by the Adviser. In effecting the services described herein, Adviser and Sub-Adviser may adhere to the procedures set forth in a service level document, which may be amended from time to time. The Adviser acknowledges that (i) any information, data, advice or recommendations that Sub-Adviser provides to the Adviser with respect to the Adviser’s equity allocation model (“Model”) is for informational purposes only and the Sub-Adviser shall have no liability for such information, data, advice or recommendations should the Adviser choose to incorporate it into its Model nor will the Sub-Adviser have any liability for the investment outcome as a result of using the Model, and (ii) the Sub-Adviser will only act as the Adviser’s agent in implementing the trading strategy recommended by the Sub-Adviser and approved by the Adviser.