Common use of Appointment as Sub-Advisor Clause in Contracts

Appointment as Sub-Advisor. The Advisor hereby appoints the Sub-Advisor to act as investment adviser for and to manage the Sub-Advisor Assets, subject to the supervision of the Advisor and the Board of Trustees of the Trust, and subject to the terms of this Agreement; and the Sub-Advisor hereby accepts such appointment. In such capacity, the Sub-Advisor shall be responsible for the investment management of the Sub-Advisor Assets. The Sub-Advisor agrees to exercise the same degree of skill, care and diligence in performing its services under this Agreement as the Sub-Advisor exercises in performing similar services with respect to other fiduciary accounts for which the Sub-Advisor has investment responsibilities, and that a prudent manager would exercise under the circumstances. In the event that the Trust establishes one or more series of shares other than the MGI US Small/Mid Cap Growth Equity Fund with respect to which Advisor desires to retain Sub-Advisor to render investment advisory services hereunder, Advisor shall so notify Sub-Advisor in writing, indicating the advisory fee to be payable with respect to the additional series of shares. If Sub-Advisor is willing to render such services on the terms provided for herein, it shall so notify Advisor in writing, whereupon such series shall become a Fund hereunder and such notification by Sub-Advisor shall become a schedule to this Agreement.