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

SERVICES TO BE RENDERED BY THE SUB. ADVISER TO THE TRUST a. Subject to the supervision of the Trust’s Board of Trustees (the “Board”), the Sub-Adviser will manage the investments and determine the composition of the assets of the Trust on a discretionary basis and provide the services under this Agreement in accordance with the Trust’s investment objective or objectives, policies, and restrictions as stated in the Trust’s Registration Statement filed with the Securities and Exchange Commission (“SEC”), as amended (the “Registration Statement”), copies of which shall be sent to the Sub-Adviser by the Adviser prior to the commencement of this Agreement and promptly following any such amendment or as subsequently amended in writing. The Sub-Adviser will not be responsible for the Trust’s covered call option strategy. Subject to approval of the Board and notice to the Sub-Adviser, the Adviser or any of its affiliates retains complete authority immediately to assume direct responsibility for any function delegated to the Sub-Adviser under this Agreement. The Adviser and the Sub-Adviser further agree in fulfilling its obligations, the Sub-Adviser will: i. obtain and evaluate pertinent economic, statistical, financial and other information affecting individual companies or industries the securities of which are included in the Trust’s portfolio or are under consideration for inclusion in the Trust’s portfolio; ii. formulate and implement a continuous investment program for the Trust consistent with the Sub-Adviser’s investment strategy and the specific investment objectives and related investment policies for the Trust as described in the Trust’s registration statement, as amended, or as subsequently amended in writing; iii. take whatever steps Sub-Adviser deems necessary or advisable in order to implement these investment programs by the purchase and sale of securities including the placing of orders for such purchases and sales; iv. regularly report to the Trustees of the Trust with respect to the implementation of these investment programs; and v. provide assistance to the Trust’s Custodian regarding the fair value of securities held by the Trust for which market quotations are not readily available. b. The Sub-Adviser, at its expense, will furnish: i all necessary investment and management facilities, including salaries of personnel required for it to execute its duties faithfully; and