GLG PARTNERS LP SUB-ADVISORY AGREEMENT
GLG PARTNERS LP SUB-ADVISORY AGREEMENT
This Sub-Advisory Agreement (“Agreement”) entered into as of the __ day of _________, 2025, by and between Man Solutions LLC (the
“Adviser”), a Delaware limited liability company with its principal place of business at ▇▇▇▇ ▇▇▇▇▇▇ ▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇, ▇▇▇▇ ▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇ ▇▇▇▇▇, and GLG Partners LP, a registered investment adviser organized under the Limited Partnership Act of
1907 of England and Wales with its principal place of business in London, England (the “Sub-Adviser”) acting by its general partner GLG Partners Limited.
WHEREAS, Man ETF Series Trust, a Delaware statutory trust (the “Trust”), is a management investment company, registered as such
under the Investment Company Act of 1940 (the “1940 Act”);
WHEREAS, the Adviser is registered as an investment adviser under the Investment Advisers Act of 1940 (the “Advisers Act”);
WHEREAS, the sub-Adviser is authorized and regulated by the Financial Conduct Authority of the United Kingdom (the “FCA”);
WHEREAS, the Adviser has entered into an Investment Advisory Agreement dated _________, 2025 (the “Advisory Agreement”) with the
Trust, relating to the provision of portfolio management services to each series listed on Schedule A hereto (each such series, the “Fund”), as may be amended from time to time;
WHEREAS, the Advisory Agreement provides that, in carrying out its responsibilities under the Advisory Agreement with respect to
the Fund, the Adviser may employ, retain or otherwise avail itself of the services of one or more sub-advisers;
WHEREAS, the Adviser and the Trustees of the Trust desire to retain the Sub-Adviser to render portfolio management services to the
Fund in the manner and on the terms set forth in this Agreement, and the Sub-Adviser is willing to provide such services.
NOW, THEREFORE, in consideration of the premises and mutual covenants hereinafter set forth, the parties hereto agree as follows:
1. Appointment and Acceptance of Appointment. The Adviser hereby appoints the Sub-Adviser to act as an investment sub-adviser to the Fund for the periods and on the terms herein set
forth. The Sub-Adviser accepts such appointment and agrees to render the services herein set forth, for the compensation herein provided.
2. Sub-Advisory Services.
(a) The Sub-Adviser shall, subject to the supervision and oversight of the Adviser, manage the investment and reinvestment of such portion of the assets of
the Fund, as the Adviser may from time to time allocate to the Sub-Adviser for management (the “Sub-Advised Assets”). The Sub-Adviser shall manage the Sub-Advised Assets in conformity with (i) the investment
For purposes of compliance with the Policies, the Sub-Adviser shall be entitled to treat the Sub-Advised Assets as though the Sub-Advised Assets
constituted the entire Fund, and the Sub-Adviser shall not be responsible in any way for the compliance of any assets of the Fund, other than the Sub-Advised Assets, with the Policies. Subject to the foregoing, the Sub-Adviser is authorized, in its
discretion and without prior consultation with the Adviser, to buy, sell, lend and otherwise trade in any stocks, bonds and other securities and investment instruments on behalf of the Fund, without regard to the length of time the securities have
been held and the resulting rate of portfolio turnover or any tax considerations; and the majority or the whole of the Sub-Advised Assets may be invested in such proportions of stocks, bonds, other securities or investment instruments, or cash, as
the Sub-Adviser shall determine. Notwithstanding the foregoing provisions of this Section 2(a), however, (i) the Sub-Adviser shall, upon and in accordance with written instructions from the Adviser, effect such portfolio transactions for the
Sub-Advised Assets as the Adviser shall determine are necessary in order for the Fund to comply with the Policies, and (ii) upon notice to the Sub-Adviser, the Adviser may effect in-kind redemptions with shareholders of the Fund with securities
included within the Sub-Advised Assets.
The Sub-Adviser is authorized (i) to sign any documentation or agreements related to any transactions or matter involving the insolvency, bankruptcy, or
potential thereof, of any issuer of a security, including any documentation or agreements related to any composition, compromise, assignment or arrangement made between any issuer of a security with any of its creditors held in the Fund, (ii) to
register any security issued in relation to any insolvency, bankruptcy, restructuring or potential thereof, of any issuer, in the relevant Fund’s name, and (iii) to sign agreements and other associated documentation related to an exchange, tender, or
other early extinguishment of securities held in the Fund.
(b)
Absent instructions from the Adviser or the officers of the Trust to the contrary, the Sub-Adviser shall place orders pursuant to its
determinations either directly with the issuer or with any broker and/or dealer or other person who deals in the securities in which the Fund is trading. With respect to common and preferred stocks, in executing portfolio transactions and selecting
brokers or dealers, the Sub-Adviser shall use its best judgment to obtain the best overall terms available. In assessing the best overall terms available for any transaction, the Sub-Adviser shall consider all factors it deems relevant, including
the breadth of the market in the security, the price of the security, the financial condition and execution capability of the broker or dealer, and the reasonableness of the commission, if any, both for the specific transaction and on a continuing
basis. In evaluating the best overall terms available and in selecting the broker or dealer to execute
(c) The Sub-Adviser acknowledges that the Adviser and the Trust may rely on Rules 17a-7, 17a-10, 10f-3 and 17e-1 under the 1940 Act, and the Sub-Adviser
hereby agrees that it shall not consult with any other investment adviser to the Trust with respect to transactions in securities for the Sub-Advised Assets or any other transactions in the Trust’s assets, other than for the purposes of complying
with the conditions of paragraphs (a) and (b) of Rule 12d3-1 under the 1940 Act.
(d) The Sub-Adviser has provided the Adviser with a true and complete copy of its compliance policies and procedures for compliance with “federal securities
laws” (as such term is defined under Rule 38a-1 under the 1940 Act) and Rule 206(4)-7 under the Advisers Act (the “Sub-Adviser Compliance Policies”). The Sub-Adviser’s chief compliance officer (“Sub-Adviser CCO”) shall provide to the Trust’s Chief
Compliance Officer (“Trust CCO”) or his or her delegate promptly (and in any event within 10 business days) the following:
(i) a report of any material changes to the Sub-Adviser Compliance Policies;
(ii) a report of any “material compliance matters,” as defined by Rule 38a-1 under the 1940 Act, that have occurred in connection with the Sub-Adviser
Compliance Policies;
(iii) a copy of the Sub-Adviser CCO’s report with respect to the annual review of the Sub-Adviser Compliance Policies pursuant to Rule 206(4)-7 under the
Advisers Act; and
(iv) an annual (or more frequently as the Trust CCO may request) certification regarding the Sub-Adviser’s compliance with Rule 206(4)-7 under the Advisers Act
and Section 38a-1 under the 1940 Act as well as the foregoing sub-paragraphs (i) - (iii).
(e) The Sub-Adviser may, on occasions when it deems the purchase or sale of a security to be in the best interests of the Fund as well as other fiduciary or
agency accounts managed by the Sub-Adviser, aggregate, to the extent permitted by applicable laws and regulations, the securities to be sold or purchased in order to obtain the best overall terms available and execution with respect to common and
preferred stocks and the best net price and execution with respect to other securities. In such event, allocation of the securities so purchased or sold, as well as the expenses incurred in the transaction, will be made by the Sub-Adviser in the
manner it considers to be most fair and equitable over time to the Fund and to its other accounts.
(f) The Sub-Adviser, in connection with its rights and duties with respect to the Fund and the Trust shall use the care, skill, prudence and diligence under
the circumstances then prevailing that a prudent person acting in a like capacity and familiar with such matters would use in the conduct of an enterprise of a like character and with like aims.
(g) The services of the Sub-Adviser hereunder are not deemed exclusive and the Sub-Adviser shall be free to render similar services to others (including other
investment companies) so long as its services under this Agreement are not impaired thereby. The Sub-Adviser will waive enforcement of any non-compete agreement or other agreement or arrangement to which it is currently a party that restricts,
limits, or otherwise interferes with the ability of the Adviser to employ or engage any person or entity to provide investment advisory or other services and will transmit to any person or entity notice of such waiver as may be required to give
effect to this provision; and the Sub-Adviser will not become a party to any non-compete agreement or any other agreement, arrangement, or understanding that would restrict, limit, or otherwise interfere with the ability of the Adviser and the
Trust or any of their affiliates to employ or engage any person or organization, now or in the future, to manage the Fund or any other assets managed by the Adviser.
(h) The Sub-Adviser shall furnish the Adviser reports concerning portfolio transactions and performance of the Sub-Advised Assets as the Adviser may
reasonably determine in such form as may be mutually agreed upon, and agrees to review the Sub-Advised Assets with the Adviser and discuss the management of them. The Sub-Adviser shall promptly respond to requests by the Adviser and the Trust CCO
or their delegates for copies of the pertinent books and records maintained by the Sub-Adviser relating directly to the Fund. The Sub-Adviser shall also provide the Adviser with such other information and reports, including information and reports
related to compliance matters, as may reasonably be requested by it from time to time, including without limitation all material requested by or required to be delivered to the Board.
(i) The Sub-Adviser shall vote proxies relating to the Fund’s investment securities in accordance with (i) the Trust’s proxy voting policies and procedures,
which provide that the Sub-Adviser shall vote all proxies relating to securities held by the Fund and, subject to the Trust’s policies and procedures, shall use proxy voting policies and procedures adopted by the Sub-Adviser in conformance with
Rule 206(4)-6 under the Investment Advisers Act. The Sub-Adviser shall review its proxy voting activities on a periodic basis with the Trustees.
(j) The Sub-Adviser shall cooperate promptly and fully with the Adviser and/or the Trust in responding to any regulatory or compliance examinations or
inspections (including any
information requests) relating to the Trust, the Fund or the Adviser brought by any governmental or regulatory authorities. The
Sub-Adviser shall provide the Trust CCO or his or her delegate with notice within a reasonable period (but in any event within three business days) of any deficiencies or other issues identified by the United States Securities and Exchange
Commission (“SEC”) in an examination or otherwise that relate to or that may affect the Sub-Adviser’s responsibilities with respect to the Fund.
(k) The Sub-Adviser shall be responsible for the preparation and filing of Schedule 13G and Form 13F on behalf of the Sub-Advised Assets. The Sub-Adviser
shall not be responsible for the preparation or filing of any other reports required on behalf of the Sub-Advised Assets, except as may be expressly agreed to in writing.
(l) The Sub-Adviser shall maintain separate detailed records of all matters pertaining to the Sub-Advised Assets, including, without limitation, brokerage and
other records of all securities transactions. Any records required to be maintained and preserved pursuant to the provisions of Rule 31a-1 and Rule 31a-2 promulgated under the 1940 Act that are prepared or maintained by the Sub-Adviser on behalf of
the Trust are the property of the Trust and will be surrendered promptly to the Trust upon request. The Sub-Adviser further agrees to preserve for the periods prescribed in Rule 31a-2 under the 1940 Act the records required to be maintained under
Rule 31a-1 under the 1940 Act.
(m) The Sub-Adviser shall promptly notify the Adviser of any financial condition that is likely to impair the Sub-Adviser’s ability to fulfill its commitments
under this Agreement.
(n) Upon request from the Adviser, or the custodian or recordkeeping agent of the Trust, the Sub-Adviser will, to the best of its ability, provide reasonable
assistance to the Adviser, custodian or recordkeeping agent in determining or confirming, consistent with the procedures and policies stated in the Trust’s valuation policy and procedures and/or the Fund’s prospectus and statement of additional
information (as may be amended from time to time), the value of any of the Fund’s holdings or other assets of a Fund. Such reasonable assistance shall include (but is not limited to) verifying pricing and providing fair valuations or
recommendations for fair valuations to the Adviser. In addition, if the Sub-Adviser becomes aware, over the course of its regular activities, that (1) the value of any holding of the Fund does not appear to reflect corporate actions, news, or other
significant events; (2) a market quotation is not readily available or is deemed to be unreliable; or (3) the holding otherwise requires a review to determine if a fair valuation is necessary under the policies and procedures of the Sub-Adviser
used to determine the value of portfolio holdings, the Sub-Adviser will, to the best of its ability, promptly notify the Trust or the Adviser. The Sub-Adviser shall have written policies and procedures that address the above requirements. The
Sub-Adviser shall notify the Trust and the Adviser immediately if it identifies any error in connection with the valuation of a Sub-Advised Asset.
3. Representations and Warranties of the Parties
(a) The Sub-Adviser represents and warrants to the Adviser as follows:
(i) The Sub-Adviser is a registered investment adviser under the Advisers Act;
(ii) The Form ADV that the Sub-Adviser has previously provided to the Adviser is a true and complete copy of the form as currently filed with the SEC, and the
information contained therein is accurate and complete in all material respects and does not omit to state any material fact necessary in order to make the statements made, in light of the circumstances under which they are made, not misleading.
The Sub-Adviser will promptly provide the Adviser and the Trust with a complete copy of all subsequent amendments to its Form ADV;
(iii) The Sub-Adviser agrees to maintain an appropriate level of errors and omissions or professional liability insurance coverage;
(iv) The Sub-Adviser has adopted and implemented (1) written policies and procedures pursuant to, and in accordance with, Rule 38a-1 under the 1940 Act and
Rule 206(4)-7 under the Advisers Act; (2) written policies and procedures reasonably designed to address cybersecurity risks; and (3) a written business continuity plan reasonably designed to address operational and other risks related to a
significant disruption in the Sub-Adviser’s operations; and
(v) This Agreement has been duly authorized and executed by the Sub-Adviser.
(b) The Adviser represents and warrants to the Sub-Adviser as follows:
(i) The Adviser is registered under the Advisers Act; and
(ii) The Adviser and the Trust have duly authorized the execution of this Agreement by the Adviser.
4. Obligations of the Adviser.
(a) The Adviser shall provide (or cause the Fund’s Custodian (as defined in Section 5 hereof, the Fund’s accountant and the Fund’s distributor) to provide)
timely information to the Sub-Adviser regarding such matters as the composition of the Sub-Advised Assets, cash requirements and cash available for investment in the Sub-Advised Assets, and all other information as may be reasonably necessary for
the Sub-Adviser to perform its responsibilities hereunder.
(b) The Adviser has furnished the Sub-Adviser with a copy of the prospectus and statement of additional information of the Fund and it agrees during the
continuance of this Agreement to furnish the Sub-Adviser copies of any revisions or supplements thereto at, or, if practicable, before the time the revisions or supplements become effective. The Adviser agrees to furnish the Sub-Adviser with copies
of any financial statements or reports made by the Fund to its shareholders, and any further materials or information that the Sub-Adviser may reasonably request to enable it to perform its functions under this Agreement.
5. Custodian. The Adviser shall provide the Sub-Adviser with a copy of the Fund’s agreement with the custodian designated to hold the assets of the
Fund (the “Custodian”) and any material modifications thereto (the “Custody Agreement”) that may affect the Sub-Adviser’s duties, copies
of such modifications to be provided to the Sub-Adviser reasonably in advance of the effectiveness of such modifications. The Sub-Advised Assets
shall be maintained in the custody of the Custodian identified in, and in accordance with the terms and conditions of, the Custody Agreement (or any sub-custodian properly appointed as provided in the Custody Agreement). The Sub-Adviser shall have
no liability for the acts or omissions of the Custodian, unless such act or omission is taken solely in reliance upon instruction given to the Custodian by a representative of the Sub-Adviser properly authorized to give such instruction under the
Custody Agreement. Any assets added to the Fund shall be delivered directly to the Custodian.
6. Use of Name. During the term of this Agreement, the Adviser shall have permission to use the Sub-Adviser’s name in the offering and marketing of the Fund, and agree to furnish the
Sub-Adviser, for its prior approval at its principal office all prospectuses, brochures, advertisements, promotional materials, web-based information, proxy statements shareholder reports and other similar informational materials that are to be
made available to shareholders of the Fund or to the public and that refer to the Sub-Adviser in any way. During the term of this Agreement, the Sub-Adviser shall not use the Adviser’s name or the Trust’s name without the prior consent of the
Adviser.
7. Expenses. During the term of this Agreement, the Sub-Adviser will pay all expenses incurred by it in connection with the performance of its duties under paragraph 2 hereof other than
the cost (including taxes, brokerage commissions and other transaction costs, if any) of the securities or other investment instruments purchased or sold for the Fund.
8. Compensation of the Sub-Adviser. As full compensation for all services rendered, facilities furnished and expenses borne by the Sub-Adviser hereunder, the Sub-Adviser shall be paid
the fees in the amounts and in the manner set forth in Schedule B hereto.
9. Independent Contractor Status. The Sub-Adviser shall for all purposes hereof be deemed to be an independent contractor and shall, unless otherwise provided or authorized, have no
authority to act for or represent the Trust or the Adviser in any way or otherwise be deemed an agent of the Fund or the Adviser.
10. Liability and Indemnification.
(a) Liability. The duties of the Sub-Adviser shall be confined to those expressly set forth herein with respect to the Sub-Advised Assets. The
Sub-Adviser shall not be liable for any loss arising out of any portfolio investment or disposition hereunder, except a loss directly resulting from willful misfeasance, bad faith or gross negligence in the performance of its duties, or by reason
of reckless disregard of its obligations and duties hereunder. The Sub-Adviser shall have no liability for any indirect, incidental, consequential, special, exemplary or punitive damages even if the Sub-Adviser has been advised of the possibility
of such damages. Furthermore, under no circumstances shall the Sub-Adviser be liable for any loss arising out of any act or omission taken by another sub-adviser, or any other third party, in respect of any portion of the Trust’s assets not managed
by the Sub-Adviser pursuant to this Agreement. Notwithstanding the foregoing, nothing herein shall be deemed to relieve the Sub-Adviser of any liability it would otherwise have under applicable federal securities laws.
(b) Indemnification.
(i) The Sub-Adviser shall indemnify the Adviser, the Trust and the Fund, and their respective affiliates and controlling persons (the “Adviser Indemnified
Persons”) for any liability and expenses, including reasonable attorneys’ fees, which the Adviser, the Trust or the Fund and their respective affiliates and controlling persons may sustain as a result of the Sub-Adviser’s breach of this Agreement
or its representations and warranties herein or as a result of the Sub-Adviser’s willful misfeasance, bad faith, gross negligence, or reckless disregard of its duties hereunder or violation of applicable law; provided, however, that the Adviser
Indemnified Persons shall not be indemnified for any liability or expenses that may be sustained as a result of the either of the Adviser’s willful misfeasance, bad faith, gross negligence, or reckless disregard of its duties hereunder.
(ii) The Adviser shall indemnify the Sub-Adviser, its affiliates and its controlling persons (the “Sub-Adviser Indemnified Persons”) for any liability and
expenses, including reasonable attorneys’ fees, arising from, or in connection with, the Adviser’s breach of this Agreement or its representations and warranties herein or as a result of the Adviser’s willful misfeasance, bad faith, gross
negligence, reckless disregard of their duties hereunder or violation of applicable law; provided, however, that the Sub-Adviser Indemnified Persons shall not be indemnified for any liability or expenses that may be sustained as a result of the
Sub-Adviser’s willful misfeasance, bad faith, gross negligence, or reckless disregard of its duties hereunder.
11. Effective Date and Termination. This Agreement shall become effective with respect to the Fund on the date that the Fund commences investment operations (the “Effective Date”),
and:
(a) unless otherwise terminated, this Agreement shall continue in effect for an initial term of two years, and thereafter from year to year thereafter so long
as such continuance is specifically approved at least annually (i) by the Board or by vote of a majority of the outstanding voting securities of the Fund, and (ii) by vote of a majority of the Trustees of the Trust who are not parties to this
Agreement or interested persons of any such party (the “Disinterested Trustees”), cast in person at a meeting called for the purpose of voting on such approval (except that no in person meeting will be required in the event that SEC guidance or
exemptive relief permits action without an in person meeting);
(b) this Agreement may at any time be terminated on 60 days’ written notice to the Sub-Adviser either by vote of the Board or by vote of a majority of the
outstanding voting securities of the Fund;
(c) this Agreement shall automatically terminate in the event of its “assignment,” as such term is defined in Section 2(a)(4) of the 1940 Act, or upon the
termination of the Advisory Agreement;
(d) this Agreement may be terminated by the Sub-Adviser on 60 days’ written notice to the Adviser and the Trust, or by the Adviser immediately upon notice to
the Sub-Adviser; and
(e) termination of this Agreement pursuant to this Section 11 shall be without the payment of any penalty.
12. Amendment. This Agreement may be amended at any time by mutual consent of the Adviser and the Sub-Adviser, provided that, if required by law, such amendment shall also have been
approved by vote of a majority of the outstanding voting securities of the Fund and by vote of a majority of the Disinterested Trustees, cast in person at a meeting called for the purpose of voting on such approval.
13. Assignment. The Sub-Adviser may not assign this Agreement. The Sub-Adviser shall notify the Adviser in writing sufficiently in advance of any proposed change of “control,” as
defined in Section 2(a)(9) of the 1940 Act, so as to enable the Trust and/or the Adviser to: (a) consider whether an assignment will occur, (b) consider whether to enter into a new Sub-Advisory Agreement with the Sub-Adviser or its successor as a
result of such change of control, and (c) prepare, file, and deliver any disclosure document to the Fund’s shareholders as may be required by applicable law.
14. Miscellaneous. The captions in this Agreement are included for convenience of reference only and in no way define or delimit any of the provisions hereof or otherwise affect their
construction or effect. If any provision of this Agreement shall be held or made invalid by a court decision, statute, rule or otherwise, the remainder of this Agreement shall not be affected thereby. This Agreement shall be binding upon and shall
inure to the benefit of the parties hereto and their respective successors (subject to paragraph 11(c) hereof) and, to the extent provided in paragraph 10 hereof, each Sub-Adviser and Adviser Indemnified Person. Anything herein to the contrary
notwithstanding, this Agreement shall not be construed to require, or to impose any duty upon, either of the parties to do anything in violation of any applicable laws or regulations. Any provision in this Agreement requiring compliance with any
statute or regulation shall mean such statute or regulation as amended and in effect from time to time.
15. Regulation S-P. In accordance with Regulation S-P, if non-public personal information regarding any party’s customers or consumers is disclosed to the other party in connection
with this Agreement, the other party receiving such information will not disclose or use that information other than as necessary to carry out the purposes of this Agreement.
16. Confidentiality. Any information or recommendations supplied by either the Adviser or the Sub-Adviser, that are not otherwise in the public domain or previously known to the other
party in connection with the performance of its obligations and duties hereunder, including without limitation portfolio holdings of the Trust, financial information or other information relating to a party to this Agreement, are to be regarded as
confidential (“Confidential Information”) and held in the strictest confidence. Except as may be required by applicable law or rule or as requested by regulatory authorities having jurisdiction over a party to this Agreement, Confidential
Information may be used only by the party to which said information has been communicated and such other persons as that party believes are necessary to carry out the purposes of this Agreement, the Custodian, and such persons as the Adviser may
designate in connection with the Sub-Advised Assets.
17. Notices. All notices required to be given pursuant to this Agreement shall be delivered or mailed to the address listed below of each applicable party in person or by registered
or certified mail or a private mail or delivery service providing the sender with notice of receipt or such other address as specified in a notice duly given to the other parties. Notice shall be deemed given on the date delivered or mailed in
accordance with this paragraph.
For: Man Solutions LLC
▇▇▇▇ ▇▇▇▇▇▇ ▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇
21st Floor
New York, NY 10105
Attn: US Legal
For: GLG Partners LP
Riverbank House
▇ ▇▇▇▇ ▇▇▇▇
London EC4R 3AD
United Kingdom
Attn: Discretionary Product Legal
18. Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same
instrument.
19. Governing Law. This Agreement shall be governed by and interpreted in accordance with the laws of the State of New York, or any applicable provisions of the 1940 Act. To the
extent that the laws of the State of New York, or any of the provisions in this Agreement, conflict with the applicable provisions of the 1940 Act, the 1940 Act shall control.
20. Severability and Survival. Should any portion of this Agreement for any reason be held to be void in law or in equity, the Agreement shall be construed, insofar as is possible, as
if such portion had never been contained herein. Section 10 shall survive the termination of this Agreement.
[signature page to follow]
IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed by their officers thereunto duly authorized.
Man Solutions LLC
By: _____________________
Name:
Title:
GLG Partners LP, acting by its general partner GLG Partners Limited
By: _____________________
Name:
Title:
By: _____________________
Name:
Title:
Schedule A
Funds(s)
(as of _____, 2025)
Man Active High Yield ETF
Man Active Income ETF
Schedule B
Sub-advisory Fees
The Adviser shall pay the Sub-Adviser a Sub-Advisory fee, computed and paid monthly, at the following percentage rates of each Fund’s average daily net
assets under management by the Sub-Adviser:
|
Fund
|
Fee
|
|
Man Active High Yield ETF
|
|
|
Man Active Income ETF
|
All fees payable hereunder shall be accrued daily and paid as soon as practicable after the last day of each calendar month. In case of commencement or
termination of this Agreement with respect to any Fund during any calendar month, the fee with respect to such Fund for that month shall be reduced proportionately based upon the number of calendar days during which it is in effect, and the fee shall
be computed upon the average daily net assets of such Fund for the days during which it is in effect.
For the purpose of determining fees payable to the Sub-Adviser, the daily value of a Fund’s net assets will be computed at the times and in the manner
specified in the Fund’s current Prospectus or SAI, and on days on which the net assets are not so determined, the net asset value computation to be used will be as determined on the immediately preceding day on which the net assets were determined.