Common use of TERM AND TERMINATION OF THIS AGREEMENT; NO ASSIGNMENT Clause in Contracts

TERM AND TERMINATION OF THIS AGREEMENT; NO ASSIGNMENT. (a) This Agreement shall become effective with respect to a Fund as of the date executed with respect to a particular Fund, after the latter of approval by a majority of the Trust’s Trustees who are not interested persons (as defined in the 1940 Act) and, if required by applicable law, by a vote of a majority of the outstanding voting securities of a Fund. The Agreement shall, unless terminated as hereinafter provided, continue in effect for a period of up to two (2) years from the date of effectiveness with respect to a Fund for the initial term set forth on Schedule A. This Agreement shall continue in effect thereafter for additional periods not exceeding one (1) year so long as such continuation is approved for a Fund at least annually by (i) the Board or by the vote of a majority of the outstanding voting securities of the Fund and (ii) the vote of a majority of the Trustees of the Trust who are not parties to this Agreement nor interested persons thereof, cast in person at a meeting called for the purpose of voting on such approval. The terms “majority of the outstanding voting securities” and “interested persons” shall have the meanings as set forth in the 1940 Act. (b) This Agreement may be terminated by the Trust on behalf of a Fund at any time without payment of any penalty, by the Board, or by vote of a majority of the outstanding voting securities of the Fund, upon at least sixty (60) days’ written notice to the Adviser, and by the Adviser upon at least sixty (60) days’ written notice to the Fund. In the event of a termination, the Adviser shall cooperate in the orderly transfer of a Fund’s affairs and, at the request of the Board, transfer any and all books and records of the Fund maintained by the Adviser on behalf of the Fund. (c) This Agreement shall terminate automatically in the event of any transfer or assignment thereof, as defined in the 1940 Act.

TERM AND TERMINATION OF THIS AGREEMENT; NO ASSIGNMENT. (a) This Agreement shall become be effective with respect as to a the Fund as of the date executed with respect to a particular Fund, after the latter Effective Date of approval by a majority of the Trust’s Trustees who are not interested persons (as defined in the 1940 Act) and, if required by applicable law, by a vote of a majority of the outstanding voting securities of a Fund. The this Agreement shall, unless terminated as hereinafter provided, continue and shall remain in effect for a period of up to two (2) years from the date of effectiveness with respect to a Fund for the initial term set forth on Schedule A. hereof, unless sooner terminated as hereinafter provided. This Agreement shall continue in effect thereafter for additional periods not exceeding one (1l) year so long as such continuation is approved for a the Fund at least annually by (i) the Board of Trustees or by the vote of a majority of the outstanding voting securities of the Fund and (ii) the vote of a majority of the Trustees of the Trust who are not parties to this Agreement nor interested persons thereof, cast in person at a meeting called for the purpose of voting on such approval. The terms “majority of the outstanding voting securities” and “interested persons” shall have the meanings as set forth in the 1940 Act. (b) This Agreement may be terminated by the Trust on behalf of a the Fund at any time without payment of any penalty, by the BoardBoard of Trustees, by the Advisor, or by vote of a majority of the outstanding voting securities of the FundFund without the payment of any penalties, upon at least sixty (60) days’ written notice to the AdviserSub-Advisor, and by the Adviser Sub-Advisor upon at least sixty (60) days’ written notice to the FundFund and the Advisor. In the event of a termination, the Adviser Sub-Advisor shall cooperate in the orderly transfer of a the Fund’s affairs and, at the request of the BoardBoard of Trustees or the Advisor, transfer any and all books and records of the Fund maintained by the Adviser Sub-Advisor on behalf of the Fund. (c) This Agreement shall terminate automatically in the event of any transfer or assignment thereof, as defined in the 1940 Act. (d) This Agreement will also terminate in the event that the Investment Advisory Agreement is terminated.