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Title: |
Sub-Advisory Agreement |
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Date: |
2007 |
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Preview shows 4KB of 20KB total |
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Price: |
$40 |
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ID: |
#2900575 |
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Sub-Advisory Agreement
This SUB-ADVISORY AGREEMENT ("Agreement") is made as of
the 16th day of March 2007, by and between Legg Mason Partners
Fund Advisor, LLC, a Delaware limited liability company (the
"Manager"), and Barrett Associates, Inc., a corporation
organized under the laws of the State of New York (the
"Subadviser").
WHEREAS, the Manager has been retained by Legg Mason
Partners Sector Series, Inc. (the "Corporation"), a registered
management investment company under the Investment Company Act
of 1940, as amended (the "1940 Act") to provide investment
advisory, management, and administrative services to the
Corporation with respect to certain series of the Corporation;
and
WHEREAS, the Manager wishes to engage the Subadviser to
provide certain investment advisory services to the
Corporation with respect to the series of the Corporation
designated in Schedule A annexed hereto (the "Fund") and
Subadviser is willing to furnish such services on the terms
and conditions hereinafter set forth;
NOW THEREFORE, in consideration of the promises and
mutual covenants herein contained, it is agreed as follows:
1. In accordance with and subject to the Management
Agreement between the Corporation and the Manager with respect
to the Fund (the "Management Agreement"), the Manager hereby
appoints the Subadviser to act as Subadviser with respect to
the Fund for the period and on the terms set forth in this
Agreement. The Subadviser accepts such appointment and agrees
to render the services herein set forth, for the compensation
herein provided.
2. The Manager shall cause the Subadviser to be kept
fully informed at all times with regard to the securities
owned by the Fund, its funds available, or to become available,
for investment, and generally as to the condition of the
Fund's affairs. Manager shall furnish the Subadviser with such
other documents and information with regard to the Fund's
affairs as the Subadviser may from time to time reasonably
request.
3. (a) Subject to the supervision of the Corporation's
Board of Directors (the "Board") and the Manager, the
Subadviser shall regularly provide the Fund with respect to
such portion of the Fund's assets as shall be allocated to the
Subadviser by the Manager from time to time (the "Allocated
Assets") with investment research, advice, management and
supervision and shall furnish a continuous investment program
for the Allocated Assets consistent with the Fund's investment
objectives, policies and restrictions, as stated in the Fund's
current Prospectus and Statement of Additional Information.
The Subadviser shall, with respect to the Allocated Assets,
determine from time to time what securities and other
investments will be purchased, retained, sold or exchanged by
the Fund and what portion of the Allocated Assets will be held
in the various securities and other investments in which the
Fund invests, and shall implement those decisions, all subject
to the provisions of the Corporation's Articles of
Incorporation and By-Laws (collectively, the "Governing
Documents"), the 1940 Act, and the applicable rules and
regulations promulgated thereunder by the Securities and
Exchange Commission (the "SEC") and interpretive guidance
issued thereunder by the SEC staff and any other applicable
federal and state law, as well as the investment objectives,
policies and restrictions of the Fund referred to above, and
any other specific policies adopted by the Board and disclosed
to the Subadviser. The Subadviser is authorized as the agent
of the Corporation to give instructions with respect to the
Allocated Assets to the custodian of the Fund as to deliveries
of securities and other investments and payments of cash for
the account of the Fund. Subject to applicable provisions of
the 1940 Act, the investment program to be provided hereunder
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