Common use of Acceptance of Appointment; Standard of Performance Clause in Contracts

Acceptance of Appointment; Standard of Performance. The Sub-Adviser accepts the appointment as the discretionary portfolio manager and agrees to make reasonable investment decisions for the Portfolio in accordance with the provisions of this agreement. The Sub-Adviser accepts such appointment and agrees to render the services herein set forth, for the compensation herein provided. The Sub-Adviser shall for all purposes herein be deemed to be an independent contractor of the Manager, Adviser and the Trust and shall, unless otherwise expressly provided herein or authorized by the Adviser or the Board of Trustees of the Trust from time to time, have no authority to act for or represent the Adviser or the Trust in any way or otherwise be deemed an agent of the Adviser or the Trust.