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Sub-Advisory Agreement

 

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Title:

Sub-Advisory Agreement

Entities:

Johnsonfamily Funds Inc

Date:

2004

Size:

Preview shows 5KB of 23KB total

Price:

$33

ID:

#2539154

 

 

► Securities ► Advisory ► Sub-Advisory Agreements

 

 

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                                              SUB-ADVISORY AGREEMENT


JOHNSONFAMILY INTERMEDIATE FIXED INCOME FUND
--------------------------------------------

AGREEMENT (this "Agreement") made this 1st day of April, 2003, by and among
JohnsonFamily Funds, Inc., a Maryland corporation (the "Company"), Johnson Asset
Management, Inc., a Wisconsin corporation (the "Adviser"), and RNC Genter
Capital Management LLC, a California limited liability company (the "Portfolio
Manager").

W I T N E S S E T H :

The Company is a diversified open-end management investment company
registered as an investment company under the Investment Company Act of 1940
(the "Act"), and subject to the rules and regulations promulgated thereunder.
The Company's authorized shares are divided into four series, each of which
constitutes a separate investment portfolio or fund with different investment
objectives and policies. Each share of a fund represents an undivided interest
in the assets, subject to the liabilities, allocated to that portfolio.

The Adviser acts as the "investment adviser" (as defined in Section
2(a)(20) of the Act) to the JohnsonFamily Intermediate Fixed Income Fund (the
"Fund"), a series of the Company, pursuant to the terms of an Investment
Advisory Agreement. The Adviser is responsible for the day-to-day management and
overall administration of the Fund and the coordination of investment of the
Fund's assets in portfolio securities. However, specific portfolio purchases and
sales for the Fund's investment portfolio, or a portion thereof, are to be made
by advisory organizations recommended and selected by the Adviser, subject to
the approval of the Board of Directors of the Company.

WHEREAS, the Adviser and the Company desire to retain the Portfolio Manager
as the portfolio manager for the Fund.

NOW, THEREFORE, the Company, the Adviser and the Portfolio Manager do
mutually promise and agree as follows:

1. Employment. The Adviser being duly authorized hereby appoints and
employs the Portfolio Manager as a discretionary portfolio manager to the Fund
for those assets of the Fund which the Adviser determines to assign to the
Portfolio Manager (those assets being referred to as the "Fund Account"), for
the period and on the terms set forth in this Agreement. The Portfolio Manager
hereby accepts the appointment as a discretionary portfolio manager and agrees
to use its best professional judgment to make timely investment decisions for
the Fund with respect to the investments of the Fund Account in accordance with
the provisions of this Agreement.

2. Authority of the Portfolio Manager. The Portfolio Manager shall for all
purposes herein be deemed to be an independent contractor and shall, unless
otherwise expressly provided or authorized, have no authority to act for or
represent the Company or the Fund in any way or otherwise be deemed an agent of
the Company or the Fund.

3. Portfolio Management Services of the Portfolio Manager. The Portfolio
Manager is hereby employed and authorized to select portfolio securities for
investment by the Fund, to purchase and sell securities of the Fund Account, and
upon making any purchase or sale decision, to place orders for the execution of
such portfolio transactions in accordance with paragraphs 5 and 11


{PAGE}

hereof and such operational procedures as may be agreed to from time to time by
the Portfolio Manager and the Company or the Adviser (the "Operational
Procedures"). In providing portfolio management services to the Fund Account,
the Portfolio Manager shall be subject to such investment restrictions as are
set forth in the Act and the rules thereunder, the Internal Revenue Code,
applicable state securities laws, the supervision and control of the Board of
Directors of the Company, such specific instructions as the Board of Directors
may adopt and communicate to the Portfolio Manager, the investment objectives,
policies and restrictions of the Fund furnished pursuant to paragraph 4, the
provisions of Schedule A hereto and instructions from the Adviser. The Portfolio
Manager is not authorized by the Company to take any action, including the
purchase or sale of securities for the Fund Account, in contravention of any
restriction, limitation, objective, policy or instruction described in the
previous sentence. The Portfolio Manager shall maintain on behalf of the Fund
the records listed in Schedule A hereto (as amended from time to time). At the
Company's or the Adviser's reasonable request, the Portfolio Manager will
consult with the Company or with the Adviser with respect to any decision made
by it with respect to the investments of the Fund Account.

4. Investment Objectives, Policies and Restrictions. The Company will
provide the Portfolio Manager with a statement of the investment objectives,
policies and restrictions applicable to the Fund and any specific investment

 

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