Nevada § 349.915 - Contents of agreement

§ 349.915. Contents of agreement

In the agreement the management company shall agree to invest the money and other

assets in the Account for Venture Capital consistent with the purposes of NRS 349.900 to 349.929 , inclusive. In addition, the agreement must: 1. Specify the length of the term of the agreement, the compensation to be paid the

management company and the method by which the agreement may be terminated before

the expiration of its term. 2. Impose a fiduciary duty on the management company in the administration of the

Account for Venture Capital, including the preservation and protection of the money

and other assets in the Account for Venture Capital before their investment. 3. Prohibit the Director from participating in the decisions regarding the investment

of the money and other assets in the Account for Venture Capital. 4. Specify the grounds for terminating the agreement for cause other than the poor

performance of certain enterprises in which the money is invested. 5. Authorize the Director or the management company to terminate the agreement without

cause upon written notice to the other party. The amount of time necessary for notice may be negotiated between the Director and

the management company. 6. Authorize the Director to require the management company to adhere to certain objectives

and policies for investment applicable to the Account for Venture Capital to ensure

the achievement of the goals prescribed in NRS 349.900 , and to terminate the contract if the management company fails to adhere to those

objectives and policies. 7. Prohibit the management company, upon termination of the agreement for any reason,

from making any additional investment for the Account for Venture Capital after the

date of notice of the termination, unless the investment is authorized in writing

by the Director.