Washington Investment Advisory Agreement is a legal document that establishes a contractual relationship between Equity Strategies Fund, Inc. (ESF) and EPSF Advisors, Inc. (EPSF). This agreement outlines the terms and conditions under which EPSF Advisors will provide investment advisory services to ESF. The primary purpose of the Washington Investment Advisory Agreement is to clearly define the roles and responsibilities of both ESF and EPSF Advisors. It sets forth the guidelines for investment strategies, risk management, and performance objectives. This agreement ensures that ESF's investment goals align with the expertise and services provided by EPSF Advisors. There are several types of Washington Investment Advisory Agreements that may exist between ESF and EPSF Advisors: 1. Standard Investment Advisory Agreement: This is the typical form of agreement between ESF and EPSF Advisors. It covers the general terms and conditions of the investment advisory services offered by EPSF Advisors. 2. Customized Investment Advisory Agreement: This agreement is tailored to meet the specific needs and requirements of ESF. It may include additional provisions or modifications based on ESF's investment preferences or constraints. 3. Fiduciary Investment Advisory Agreement: In some cases, ESF may opt for a fiduciary agreement with EPSF Advisors. This agreement establishes a higher standard of care and obligates EPSF Advisors to act solely in the best interest of ESF and its investors. 4. Performance-based Investment Advisory Agreement: This type of agreement may include provisions that link EPSF Advisors' compensation to the performance of ESF's investments. It may incentivize EPSF Advisors to generate positive investment returns for ESF. Keywords: Washington Investment Advisory Agreement, Equity Strategies Fund, Inc., EPSF Advisors, Inc., investment advisory services, investment strategies, risk management, performance objectives, customized agreement, fiduciary agreement, performance-based agreement.