Common use of EFFECTIVENESS, DURATION AND TERMINATION Clause in Contracts

EFFECTIVENESS, DURATION AND TERMINATION. (a) This Agreement shall become effective with respect to the Fund immediately upon the later of approval by a majority of the Trust's Trustees who are not parties to this Agreement or interested persons of any such party (other than as trustees of the Trust) and, if required by applicable law, by a vote of a majority of the outstanding voting securities of the Fund. (b) This Agreement shall remain in effect with respect to the Fund for a period of two years from the date of its effectiveness and shall continue in effect for successive annual periods with respect to the Fund; provided that such continuance is specifically approved at least annually (i) by the Board or by the vote of a majority of the outstanding voting securities of the Fund, and, in either case, (ii) by a majority of the Trust's Trustees who are not parties to this Agreement or interested persons of any such party (other than as trustees of the Trust); provided further, however, that if the continuation of this Agreement is not approved as to the Fund, the Sub-advisor may continue to render to that Fund the services described herein in the manner and to the extent permitted by the 1940 Act and the rules and regulations thereunder. (c) This Agreement may be terminated with respect to the Fund at any time, without the payment of any penalty, (i) by the Board, by a vote of a majority of the outstanding voting securities of the Fund or by the Advisor on 60 days' written notice to the Sub-advisor or (ii) by the Sub-advisor on 60 days' written notice to the Trust. This Agreement shall terminate immediately (x) upon its assignment or (y) upon termination of the Advisory Agreement.

EFFECTIVENESS, DURATION AND TERMINATION. (a) This Agreement shall become effective with respect to the Fund immediately upon as of the later of approval date hereof; and shall terminate 150 days after such effective date with respect to such Fund unless it has been approved by a majority of such Fund’s shareholders prior to such termination date (such period preceding such termination or Fund shareholder approval, the Trust's Trustees who are not parties “Interim Period”). If so approved, then unless sooner terminated with respect to such Fund as provided herein, this Agreement or interested persons of any shall continue in effect with respect to such party (other than as trustees of Fund until the Trust) and, if required by applicable law, by a vote of a majority of the outstanding voting securities of the Fundsecond anniversary hereof. (b) This Agreement shall remain in effect After the second anniversary, if not terminated with respect to the Fund for a period of two years from the date of its effectiveness and Fund, this Agreement shall continue in effect for successive annual periods with respect to the FundFund thereafter; provided that such continuance is specifically approved at least annually (i) by the vote of a majority of the Trust's Board of Trustees or by the vote of a majority of the outstanding voting securities of the Fund, and, in either case, (ii) by the vote of a majority of the Trust's Trustees who are not parties to this Agreement or interested persons of any such party (other than as trustees of the Trust); provided further, however, that if cast in person at a meeting called for the continuation purpose of this Agreement is not approved as to the Fund, the Sub-advisor may continue to render to that Fund the services described herein in the manner and to the extent permitted by the 1940 Act and the rules and regulations thereundervoting on such approval. (c) This Agreement may be terminated with respect to the Fund at any time, without the payment of any penalty, (i) by the Board, by a vote of a majority of the outstanding voting securities of the Fund or by the Advisor on 60 days' written notice to the Sub-advisor or (ii) by the Sub-advisor on 60 days' written notice to the Trust. This Agreement shall terminate immediately (x) upon its assignment or (y) upon termination of the Advisory Agreement.

EFFECTIVENESS, DURATION AND TERMINATION. (a) This Agreement shall become effective with respect to the Growth and Income Fund immediately upon the later of approval by a majority of the Trust's Trustees trustees who are not parties to this Agreement or interested persons of any such party (other than as trustees of the Trust) and, if required by applicable law, by a vote of a majority of the outstanding voting securities of the Fund. (b) This Agreement shall remain in effect with respect to the a Fund for a period of two years from the date of its effectiveness and shall continue in effect for successive annual periods with respect to the Fund; provided that such continuance is specifically approved at least annually (i) by the Board or by the vote of a majority of the outstanding voting securities of the Fund, and, in either case, (ii) by a majority of the Trust's Trustees trustees who are not parties to this Agreement or interested persons of any such party (other than as trustees of the Trust); provided further, however, that if the continuation of this Agreement is not approved as to the a Fund, the Sub-advisor Adviser may continue to render to that Fund the services described herein in the manner and to the extent permitted by the 1940 Act and the rules and regulations thereunder. (c) This Agreement may be terminated with respect to the Growth and Income Fund at any time, without the payment of any penalty, (i) by the Board, by a vote of a majority of the outstanding voting securities of the Fund or by the Advisor Adviser on 60 days' written notice to the Sub-advisor Adviser or (ii) by the Sub-advisor Adviser on 60 days' written notice to the Trust. This Agreement shall terminate immediately (x) upon its assignment or (y) upon termination of the Advisory Agreement.

EFFECTIVENESS, DURATION AND TERMINATION. (a) This Agreement shall become effective with respect to the Fund immediately upon the later of Upon approval by a majority of the Trust's Trustees who are not parties to this Agreement or interested persons of any such party (other than as trustees of the Trust) and, if required by applicable law, by a vote of a majority of the outstanding voting securities of a Fund, this Agreement shall become effective with respect to a Fund immediately after the FundExchange as provided in the Agreement and Plan of Reorganization by and among the Trust, the Adviser, BIA Emerging Growth Fund Limited Partnership, BIA Growth Equity Fund Limited Partnership, and BAT Commingled Fund Manager, Inc. dated June 23, 1999. (b) This Agreement shall remain in effect with respect to the a Fund for a period of two years from the date of its effectiveness and shall continue in effect for successive annual periods with respect to the Fund; provided that such continuance is specifically approved at least annually annually: (i) by the Board or by the vote of a majority of the outstanding voting securities of the Fund, and, in either case, ; (ii) by a majority of the Trust's Trustees trustees who are not parties to this Agreement or interested persons of any such party (other than as trustees of the Trust); provided further, however, that if the continuation of this Agreement is not approved as to the a Fund, the Sub-advisor Adviser may continue to render to that Fund the services described herein in the manner and to the extent permitted by the 1940 Act and the rules and regulations thereunder. (c) This Agreement may be terminated with respect to the a Fund at any time, without the payment of any penalty, : (i) by the Board, Board or by a vote of a majority of the outstanding voting securities of the Fund or by the Advisor on 60 days' written notice to the Sub-advisor Adviser; or (ii) by the Sub-advisor Adviser on 60 days' written notice to the Trust. This Agreement shall terminate immediately (x) upon its assignment or (y) upon termination of the Advisory Agreementassignment.

EFFECTIVENESS, DURATION AND TERMINATION. (a) This Agreement shall become effective with respect to on the Fund immediately upon the later of approval by a majority of the Trust's Trustees who are not parties to this Agreement or interested persons of any such party (other than as trustees of the Trust) and, if required by applicable law, by a vote of a majority of the outstanding voting securities of the Fund. (b) This Agreement date first written above and shall remain in effect with respect to the Fund for a period of two years from the date of its effectiveness and shall continue in effect for successive annual twelve-month periods with respect to (computed from each anniversary date of the Fundapproval); provided that such continuance is specifically approved at least annually (i) by the Board or by the vote of a majority of the outstanding voting securities of the Fund, and, in either case, (ii) by a majority of the Trust's ’s Trustees who are not parties to this Agreement or interested persons of any such party (other than as trustees Trustees of the Trust); provided further, however, that if this Agreement or the continuation of this Agreement is not approved as to the Fundapproved, the Sub-advisor Subadviser may continue to render to that the Fund the services described herein in the manner and to the extent permitted by the 1940 Act and the rules and regulations thereunder. (cb) This Agreement may be terminated at any time with respect to the Fund at any timeFund, without the payment of any penalty, penalty (i) by the Board, Board or by a vote of a majority of the outstanding voting securities of the Fund or by the Advisor on 60 days' ’ written notice to the Sub-advisor or Subadviser; (ii) by the Sub-advisor Adviser on 60 days' ’ written notice to the Subadviser; or (iii) by the Subadviser on 60 days’ written notice to the Adviser and the Trust. This Agreement shall terminate immediately (x) automatically upon its assignment or (y) upon termination of as defined in the Advisory AgreementAct.

EFFECTIVENESS, DURATION AND TERMINATION. (a) This Agreement shall become effective with respect to on the Fund immediately upon the later of approval by a majority of the Trust's Trustees who are not parties to this Agreement or interested persons of any such party (other than as trustees of the Trust) and, if required by applicable law, by a vote of a majority of the outstanding voting securities of the Fund. (b) This Agreement date first written above and shall remain in effect with respect to the Fund for a period of two years from the date of its effectiveness and shall continue in effect for successive annual twelve-month periods with respect to (computed from each anniversary date of the Fundapproval); provided that such continuance is specifically approved at least annually (i) by the Board or by the vote of a majority of the outstanding voting securities of the Fund, and, in either case, (ii) by a majority of the Trust's Trustees who are not parties to this Agreement or interested persons of any such party (other than as trustees Trustees of the Trust); provided further, however, that if this Agreement or the continuation of this Agreement is not approved as to the Fundapproved, the Sub-advisor Subadviser may continue to render to that the Fund the services described herein in the manner and to the extent permitted by the 1940 Act and the rules and regulations thereunder. (cb) This Agreement may be terminated with respect to the Fund at any time, without the payment of any penalty, penalty (i) by the Board, Board or by a vote of a majority of the outstanding voting securities of the Fund or by the Advisor on 60 days' written notice to the Sub-advisor or Subadviser; (ii) by the Sub-advisor Adviser on 60 days' written notice to the Subadviser; or (iii) by the Subadviser on 60 days' written notice to the Adviser and the Trust. This Agreement shall terminate immediately (x) automatically upon its assignment or (y) upon termination of as defined in the Advisory AgreementAct.

EFFECTIVENESS, DURATION AND TERMINATION. (a) This Agreement shall become effective with respect to on the Fund immediately upon the later of approval by a majority of the Trust's Trustees who are not parties to this Agreement or interested persons of any such party (other than as trustees of the Trust) and, if required by applicable law, by a vote of a majority of the outstanding voting securities of the Fund. (b) This Agreement date first written above and shall remain in effect with respect to the each Fund for a period of two years one year from the date of its effectiveness and shall continue in effect for successive annual twelve-month periods with respect to (computed from each anniversary date of the Fundapproval); provided that such continuance is specifically approved at least annually (i) by the Board or by the vote of a majority of the outstanding voting securities of the that Fund, and, in either case, (ii) by a majority of the Trust's ’s Trustees who are not parties to this Agreement or interested persons of any such party (other than as trustees Trustees of the Trust); provided further, however, that if this Agreement or the continuation of this Agreement is not approved as to the Fundapproved, the Sub-advisor Subadviser may continue to render to that a Fund the services described herein in the manner and to the extent permitted by the 1940 Act and the rules and regulations thereunder. (cb) This Agreement may be terminated at any time with respect to the Fund at any timea Fund, without the payment of any penalty, penalty (i) by the Board, Board or by a vote of a majority of the outstanding voting securities of the such Fund or by the Advisor on 60 days' ’ written notice to the Sub-advisor or Subadviser; (ii) by the Sub-advisor Adviser on 60 days' ’ written notice to the Subadviser; or (iii) by the Subadviser on 60 days’ written notice to the Adviser and the Trust. This Agreement shall terminate immediately (x) automatically upon its assignment or (y) upon termination of as defined in the Advisory AgreementAct.

EFFECTIVENESS, DURATION AND TERMINATION. (a) This Agreement shall become effective with respect to each Fund on the Fund immediately upon date hereof. Upon effectiveness of this Agreement, it shall supersede all previous agreements between the later of approval by a majority of parties hereto covering the Trust's Trustees who are not parties subject matter hereof insofar as such Agreement may have been deemed to this Agreement or interested persons of any such party (other than as trustees of relate to the Trust) and, if required by applicable law, by a vote of a majority of the outstanding voting securities of the FundFunds. (b) This Agreement shall remain continue in effect with respect to the a Fund for a period of two years one year from the date of its effectiveness and shall continue in effect for successive annual periods with respect to the Fundtwelve-month periods; provided provided, however, that such continuance is specifically approved at least annually (i) by the Board or by the a vote of a majority of the outstanding voting securities of the Fund, and, in either case, Fund and (ii) by a vote of a majority of Trustees of the Trust's Trustees Trust who are not parties to this Agreement agreement or interested persons of any such party (other than as trustees Trustees of the Trust); provided further, however, that if the continuation of this Agreement agreement is not approved as to the a Fund, the Sub-advisor Forum may continue to render to that the Fund the services described herein in the manner and to the extent permitted by the 1940 Act and the rules and regulations thereunder. (c) This Agreement may be terminated with respect to the a Fund at any time, without the payment of any penalty, (i) by the Board, by a vote of a majority of the outstanding voting securities of the Fund or by the Advisor Board on 60 days' written notice to the Sub-advisor Forum or (ii) by the Sub-advisor Forum on 60 days' written notice to the Trust. This Agreement shall terminate immediately (x) upon its assignment or (y) upon termination of the Advisory Agreement.

EFFECTIVENESS, DURATION AND TERMINATION. (a) This Agreement shall become effective with respect to the a Fund immediately upon the later of approval by a majority of the Trust's Trustees trustees who are not parties to this Agreement or interested persons of any such party (other than as trustees of the Trust) and, if required by applicable law, by a vote of a majority of the outstanding voting securities of the Fund. (b) This Agreement shall remain in effect with respect to the a Fund for a period of two years from the date of its effectiveness and shall continue in effect for successive annual periods with respect to the Fund; provided that such continuance is specifically approved at least annually (i) by the Board or by the vote of a majority of the outstanding voting securities of the Fund, and, in either case, (ii) by a majority of the Trust's Trustees trustees who are not parties to this Agreement or interested persons of any such party (other than as trustees of the Trust); provided further, however, that if the continuation of this Agreement is not approved as to the a Fund, the Sub-advisor Subadviser may continue to render to that Fund the services described herein in the manner and to the extent permitted by the 1940 Act and the rules and regulations thereunder. (c) This Agreement may be terminated with respect to the a Fund at any time, without the payment of any penalty, (i) by the Board, by a vote of a majority of the outstanding voting securities of the Fund or by the Advisor Adviser on 60 [60] days' written notice to the Sub-advisor Subadviser or (ii) by the Sub-advisor Subadviser on 60 days' written notice to the Trust. This Agreement shall terminate immediately (x) upon its assignment or (y) upon termination of the Advisory Agreement.

EFFECTIVENESS, DURATION AND TERMINATION. (a) This Agreement shall become effective with respect to on the Fund immediately upon the later of approval by a majority of the Trust's Trustees who are not parties to this Agreement or interested persons of any such party (other than as trustees of the Trust) and, if required by applicable law, by a vote of a majority of the outstanding voting securities of the Fund. (b) This Agreement date first written above and shall remain in effect with respect to the each Fund for a period of two years from the date of its effectiveness and shall continue in effect for successive annual twelve-month periods with respect to (computed from each anniversary date of the Fundapproval); provided that such continuance is specifically approved at least annually (i) by the Board or by the vote of a majority of the outstanding voting securities of the that Fund, and, in either case, (ii) by a majority of the Trust's ’s Trustees who are not parties to this Agreement or interested persons of any such party (other than as trustees Trustees of the Trust); provided further, however, that if this Agreement or the continuation of this Agreement is not approved as to the Fundapproved, the Sub-advisor Subadviser may continue to render to that a Fund the services described herein in the manner and to the extent permitted by the 1940 Act and the rules and regulations thereunder. (cb) This Agreement may be terminated at any time with respect to the Fund at any timea Fund, without the payment of any penalty, penalty (i) by the Board, Board or by a vote of a majority of the outstanding voting securities of the such Fund or by the Advisor on 60 days' ’ written notice to the Sub-advisor or Subadviser; (ii) by the Sub-advisor Adviser on 60 days' ’ written notice to the Subadviser; or (iii) by the Subadviser on 60 days’ written notice to the Adviser and the Trust. This Agreement shall terminate immediately (x) automatically upon its assignment or (y) upon termination of as defined in the Advisory AgreementAct.

EFFECTIVENESS, DURATION AND TERMINATION. (a) This Agreement shall become effective with respect to the a Fund immediately upon the later of approval by a majority of the Trust's Trustees who are not parties to this Agreement or interested persons of any such party (other than as trustees of the Trust) and, if required by applicable law, by a vote of a majority of the outstanding voting securities of the Fund. (b) This Agreement shall remain in effect with respect to the a Fund for a period of two years from the date of its effectiveness and shall continue in effect for successive annual periods with respect to the Fund; provided that such continuance is specifically approved at least annually (i) by the Board or by the vote of a majority of the outstanding voting securities of the Fund, and, in either case, (ii) by a majority of the Trust's Trustees who are not parties to this Agreement or interested persons of any such party (other than as trustees of the Trust); provided further, however, that if the continuation of this Agreement is not approved as to the a Fund, the Sub-advisor Subadviser may continue to render to that Fund the services described herein in the manner and to the extent permitted by the 1940 Act and the rules and regulations thereunder. (c) This Agreement may be terminated with respect to the a Fund at any time, without the payment of any penalty, (i) by the Board, by a vote of a majority of the outstanding voting securities of the Fund or by the Advisor Adviser on 60 days' written notice to the Sub-advisor Subadviser or (ii) by the Sub-advisor Subadviser on 60 days' written notice to the Trust. This Agreement shall terminate immediately (x) upon its assignment or (y) upon termination of the Advisory Agreement.

EFFECTIVENESS, DURATION AND TERMINATION. (a) This Agreement shall become effective with respect to on the Fund immediately upon the later of approval by a majority of the Trust's Trustees who are not parties to this Agreement or interested persons of any such party (other than as trustees of the Trust) and, if required by applicable law, by a vote of a majority of the outstanding voting securities of the Fund. (b) This Agreement date first written above and shall remain in effect with respect to the each Fund for a period of two years from the date of its effectiveness and shall continue in effect for successive annual twelve-month periods with respect to (computed from each anniversary date of the Fundapproval); provided that such continuance is specifically approved at least annually (i) by the Board or by the vote of a majority of the outstanding voting securities of the applicable Fund, and, in either case, (ii) by a majority of the Trust's Trustees who are not parties to this Agreement or interested persons of any such party (other than as trustees Trustees of the Trust); provided further, however, that if this Agreement or the continuation of this Agreement is not approved as to the Fundapproved, the Sub-advisor Subadviser may continue to render to that the applicable Fund the services described herein in the manner and to the extent permitted by the 1940 Act and the rules and regulations thereunder. (cb) This Agreement may be terminated at any time with respect to the Fund at any timea Fund, without the payment of any penalty, (i) by the Board, Board or by a vote of a majority of the outstanding voting securities of the Fund or by the Advisor on 60 days' written notice to the Sub-advisor or Subadviser; (ii) by the Sub-advisor Adviser on 60 days' written notice to the Subadviser; or (iii) by the Subadviser on 60 days' written notice to the Adviser and the Trust. This Agreement shall terminate immediately (x) automatically upon its assignment or (y) upon termination of as defined in the Advisory AgreementAct.

EFFECTIVENESS, DURATION AND TERMINATION. (a) This Agreement shall become effective with respect to the a Fund immediately upon the later of approval by a majority of the Trust's Trustees Trus"s trustees who are not parties to this Agreement or interested persons of any such party (other than as trustees of the Trust) and, if required by applicable law, by a vote of a majority of the outstanding voting securities of the Fund. (b) This Agreement shall remain in effect with respect to the a Fund for a period of two years from the date of its effectiveness and shall continue in effect for successive annual periods with respect to the Fund; provided that such continuance is specifically approved at least annually (i) by the Board or by the vote of a majority of the outstanding voting securities of the Fund, and, in either case, (ii) by a majority of the Trust's Trustees Trus"s trustees who are not parties to this Agreement or interested persons of any such party (other than as trustees of the Trust); provided further, however, that if the continuation of this Agreement is not approved as to the a Fund, the Sub-advisor Subadviser may continue to render to that Fund the services described herein in the manner and to the extent permitted by the 1940 Act and the rules and regulations thereunder. (c) This Agreement may be terminated with respect to the a Fund at any time, without the payment of any penalty, (i) by the Board, by a vote of a majority of the outstanding voting securities of the Fund or by the Advisor Adviser on 60 days' day" written notice to the Sub-advisor Subadviser or (ii) by the Sub-advisor Subadviser on 60 days' day" written notice to the Trust. This Agreement shall terminate immediately (x) upon its assignment or (y) upon termination of the Advisory Agreement.

EFFECTIVENESS, DURATION AND TERMINATION. (a) This Agreement shall become effective with respect to the Fund immediately upon the later of approval by a majority of the Trust's Trustees who are not parties to this Agreement or interested persons of any such party (other than as trustees of the Trust) and, if required by applicable law, by a vote of a majority of the outstanding voting securities of the Fund. (b) This Agreement shall remain in effect with respect to the Fund for a period of two years from the date of its effectiveness and shall continue in effect for successive annual periods with respect to the Fund; provided that such continuance is specifically approved at least annually (i) by the Board or by the vote of a majority of the outstanding voting securities of the Fund, and, in either case, (ii) by a majority of the Trust's Trustees who are not parties to this Agreement or interested persons of any such party (other than as trustees of the Trust); provided further, however, that if the continuation of this Agreement is not approved as to the Fund, the Sub-advisor Subadviser may continue to render to that Fund the services described herein in the manner and to the extent permitted by the 1940 Act and the rules and regulations thereunder. (c) This Agreement may be terminated with respect to the Fund at any time, without the payment of any penalty, (i) by the Board, Board or by a vote of a majority of the outstanding voting securities of the Fund or by the Advisor on 60 days' written notice to the Sub-advisor or (ii) by the Sub-advisor on 60 days' written notice to the TrustFund. This Agreement shall terminate immediately (x) upon its assignment or (y) upon termination of the Advisory Agreement. (d) The subadviser may terminate the agreement for any reason by providing 60 days’ written notice to the adviser. (e) The advisor may terminate the agreement for any reason by providing 60 days’ written notice to the subadvisor.

EFFECTIVENESS, DURATION AND TERMINATION. (a) This Agreement shall become effective with respect to the Fund immediately concurrent with the effectiveness of the Advisory Agreement, upon the later of approval by a majority of the Board, including a majority of the Trust's Trustees who are not parties to this Agreement or interested persons of any such party (other than as trustees of defined in the Trust1940 Act) and, if required by applicable law, by a vote of a majority of the outstanding voting securities of the Fund. (b) This Agreement shall remain in effect with respect to the Fund Funds for a period of two years from the date of its effectiveness and shall continue in effect for successive annual periods with respect to the FundFunds; provided that such continuance is specifically approved at least annually (i) by the Board or by the vote of a majority of the outstanding voting securities of the Fund, andand in, in either case, (ii) by a majority of the Trust's ’s Trustees who are not parties to this Agreement or interested persons of any such party (other than as trustees of defined in the Trust1940 Act); provided further, however, that if the continuation of this Agreement is not approved as to the a Fund, the Sub-advisor Subadviser may continue to render to that Fund the services described herein in the manner and to the extent permitted by the 1940 Act and the rules and regulations thereunder. (c) This Agreement may be terminated with respect to the a Fund at any time, without the payment of any penalty, (i) by the Board, by a vote of a majority of the outstanding voting securities of the Fund or by the Advisor Adviser on 60 days' written notice to the Sub-advisor Subadviser or (ii) by the Sub-advisor Subadviser on 60 days' written notice to the Trust. This Agreement shall terminate immediately (x) upon its assignment or (y) upon termination of the Advisory Agreement.

EFFECTIVENESS, DURATION AND TERMINATION. (a) This Agreement shall become effective with respect to each Fund on the date of its execution or amendment to include the Fund. Upon effectiveness of this Agreement with respect to a Fund, it shall supersede all previous agreements between the parties hereto covering the subject matter hereof insofar as such Agreement may have been deemed to relate to the Fund. (b) This Agreement shall continue in effect with respect to a Fund for a period of one year from its effectiveness and shall continue in effect for successive twelve-month periods; provided, however, that continuance is specifically approved at least annually (i) by the Board or by a vote of a majority of the outstanding voting securities of the Fund immediately upon the later of approval and (ii) and by a majority of Trustees of the Trust's Trustees Trust who are not parties to this Agreement or interested persons of any such party (other than as trustees Trustees of the Trust) and, if required by applicable law, by a vote of a majority of and who do not have any direct or indirect financial interest in any plan adopted pursuant to Rule 12b-1 under the outstanding voting securities of the Fund. (b) This Agreement shall remain in effect Act with respect to the Fund for a period of two years from the date of its effectiveness and shall continue or in effect for successive annual periods with respect any agreement related to the Fund; provided that such continuance is specifically approved at least annually (i) by the Board or by the vote of a majority of the outstanding voting securities of the Fund, and, in either case, (ii) by a majority of the Trust's Trustees who are not parties to this Agreement or interested persons of any such party (other than as trustees of the Trust)plan; provided further, however, that if the continuation of this Agreement is not approved as to the a Fund, the Sub-advisor Forum may continue to render to that the Fund the services described herein in the manner and to the extent permitted by the 1940 Act and the rules and regulations thereunder. (c) This Agreement may be terminated with respect to the a Fund at any time, without the payment of any penalty, (i) by the Board, by a vote of a majority of the outstanding voting securities of the Fund or by the Advisor Board on 60 days' written notice to the Sub-advisor Forum or (ii) by the Sub-advisor Forum on 60 days' written notice to the Trust. This Agreement shall terminate immediately (x) upon its assignment or (y) upon termination of the Advisory Agreementassignment.

EFFECTIVENESS, DURATION AND TERMINATION. (a) This Agreement shall become effective with respect to the a Fund immediately upon the later of approval by a majority of the Trust's Trustees trustees who are not parties to this Agreement or interested persons of any such party (other than as trustees of the Trust) and, if required by applicable law, by a vote of a majority of the outstanding voting securities of the Fund. (b) This Agreement shall remain in effect with respect to the a Fund for a period of two (2) years from the date of its effectiveness and shall may only continue in effect for successive annual periods with respect to the Fund; Fund under such separate Agreement, provided that such continuance is specifically approved at least annually (i) by the Board or by the vote of a majority of the outstanding voting securities of the Fund, and, in either case, (ii) by a majority of the Trust's Trustees trustees who are not parties to this Agreement or interested persons of any such party (other than as trustees of the Trust); provided further, however, that if the continuation of this new Agreement is not approved as to the a Fund, the Sub-advisor Subadviser may continue to render to that Fund the services described herein in the manner and to the extent permitted by the 1940 Act and the rules and regulations thereunder. (c) This Agreement may be terminated with respect to the a Fund at any time, without the payment of any penalty, (i) by the Board, by a vote of a majority of the outstanding voting securities of the Fund or by the Advisor Adviser on 60 30 days' written notice to the Sub-advisor Subadviser or (ii) by the Sub-advisor Subadviser on 60 30 days' written notice to the Trust. This Agreement shall terminate immediately (x) upon its assignment or (y) upon termination of the Advisory Management Agreement.

EFFECTIVENESS, DURATION AND TERMINATION. (a) This For each Fund, this Agreement shall become effective with respect to it on the Fund immediately upon the later date adjacent to it on Schedule A after approval (i) by a vote of approval by a majority of the Trust's Trustees Board, including a majority of those trustees of the Trust who are not parties to this Agreement or interested persons of any such party party, and (other than as trustees of the Trustii) and, if required by applicable lawthe 1940 Act, by a vote of a majority of the Fund’s outstanding voting securities of the Fundsecurities. (b) This Agreement shall remain in effect with respect to the a Fund for a period of two years from the date of its initial effectiveness with respect to that Fund and shall continue in effect for successive annual periods with respect to the that Fund; provided that such continuance is specifically approved at least annually annually: (i) by the Board or by the vote of a majority of the outstanding voting securities of the Fund, and, in either case, ; (ii) by a majority of the Trust's ’s Trustees who are not parties to this Agreement or interested persons of any such party (other than as trustees of defined in the Trust1940 Act); provided further, however, that if the continuation of this Agreement is not approved as to the a Fund, the Sub-advisor Adviser may continue to render to that Fund the services described herein in the manner and to the extent permitted by the 1940 Act and the rules and regulations thereunder. (c) This Agreement may be terminated with respect to the a Fund at any time, without the payment of any penalty, : (i) by the Board, Board or by a vote of a majority of the outstanding voting securities of the Fund or by the Advisor on 60 days' ’ written notice to the Sub-advisor Adviser; or (ii) by the Sub-advisor Adviser on 60 days' ’ written notice to the Trust. This Agreement shall terminate immediately (x) upon its assignment assignment. Termination of this Agreement with respect to a given Fund shall not affect the continued validity of this Agreement or (y) upon termination of the Advisory Agreementperformance thereunder with respect to any other Fund.

EFFECTIVENESS, DURATION AND TERMINATION. (a) This Agreement shall become effective with respect to the a Fund immediately upon the later of approval by a majority of the Trust's Trustees trustees who are not parties to this Agreement or interested persons of any such party (other than as trustees of the Trust) and, if required by applicable law, by a vote of a majority of the outstanding voting securities of the Fund. (b) This Agreement shall remain in effect with respect to the a Fund for a period of two (2) years from the date of its effectiveness and shall may only continue in effect for successive annual periods with respect to the FundFund under such separate Agreement; provided that such continuance is specifically approved at least annually (i) by the Board or by the vote of a majority of the outstanding voting securities of the FundFluid, and, in either case, (ii) by a majority of the Trust's Trustees trustees who are not parties to this Agreement or interested persons of any such party (other than as trustees of the Trust); provided further, however, that if the continuation of this new Agreement is not approved as to the a Fund, the Sub-advisor Subadviser may continue to render to that Fund the services described herein in the manner and to the extent permitted by the 1940 Act and the rules and regulations thereunder. (c) This Agreement may be terminated with respect to the a Fund at any time, without the payment of any penalty, (i) by the Board, by a vote of a majority of the outstanding voting securities of the Fund or by the Advisor Adviser on 60 30 days' written notice to the Sub-advisor Subadviser or (ii) by the Sub-advisor Subadviser on 60 30 days' written notice to the Trust. This Agreement shall terminate immediately (x) upon its assignment or (y) upon termination of the Advisory Management Agreement.

EFFECTIVENESS, DURATION AND TERMINATION. (a) This Agreement shall become effective with respect to the Fund immediately upon Fund, on the later of date indicated in Appendix A, subject to the approval by a majority of the Trust's Trustees who are not parties to this Agreement or interested persons of any such party (other than as trustees of the Trust) and, if required by applicable law, by a vote of a majority of the outstanding voting securities of the Fund. (b) This Agreement shall remain in effect with respect to the Fund for a period of two years from the date of its effectiveness and shall continue in effect for successive annual periods with respect to the Fund; provided that such continuance is specifically approved at least annually (i) by the Board or by the vote of a majority of the outstanding voting securities of the Fund, and, in either case, (ii) by a majority of the Trust's Trustees who are not parties to this Agreement or interested persons of any such party (other than as trustees of the Trust); provided further, however, that if the continuation of this Agreement is not approved as to the Fund, the Sub-advisor may continue to render to that Fund the services described herein in the manner and to the extent permitted by the 1940 Act and the rules and regulations thereunder. (c) This Agreement may be terminated with respect to the Fund at any time, without the payment of any penalty, (i) by the Board, by a vote of a majority of the outstanding voting securities of the Fund or by the Advisor on 60 days' written notice to the Sub-advisor or (ii) by the Sub-advisor on 60 days' written notice to the Trust. This Agreement shall terminate immediately (x) upon its assignment or (y) upon termination of the Advisory Agreement.

EFFECTIVENESS, DURATION AND TERMINATION. (a) This Agreement shall become effective with respect to on the Fund immediately upon the later of approval by a majority of the Trust's Trustees who are not parties to this Agreement or interested persons of any such party (other than as trustees of the Trust) and, if required by applicable law, by a vote of a majority of the outstanding voting securities of the Fund. (b) This Agreement date first written above and shall remain in effect with respect to the Fund for a period of two years one year from the date of its effectiveness and shall continue in effect for successive annual twelve-month periods with respect to (computed from each anniversary date of the Fundapproval); provided that such continuance is specifically approved at least annually (i) by the Board or by the vote of a majority of the outstanding voting securities of the Fund, and, in either case, (ii) by a majority of the Trust's Trustees who are not parties to this Agreement or interested persons of any such party (other than as trustees Trustees of the Trust); provided further, however, that if this Agreement or the continuation of this Agreement is not approved as to the Fundapproved, the Sub-advisor Subadviser may continue to render to that the Fund the services described herein in the manner and to the extent permitted by the 1940 Act and the rules and regulations thereunder. (cb) This Agreement may be terminated at any time with respect to the Fund at any timeFund, without the payment of any penalty, penalty (i) by the Board, Board or by a vote of a majority of the outstanding voting securities of the such Fund or by the Advisor on 60 days' written notice to the Sub-advisor or Subadviser; (ii) by the Sub-advisor Adviser on 60 days' written notice to the Subadviser; or (iii) by the Subadviser on 60 days' written notice to the Adviser and the Trust. This Agreement shall terminate immediately (x) automatically upon its assignment or (y) upon termination of as defined in the Advisory AgreementAct.