Administrative Expense Payments. (a) The fee due for an invoice period for position(s)(“Positions”) in an applicable share class of an equity Portfolio (excluding index Portfolios) described on Schedule B of the Participation Agreement held in Separate Account(s) of the Insurer shall be equal to the product of (i) the annual fee rate of [5] basis points (0.05%),(ii) the quotient of (A) the number of calendar days in the invoice period divided by (B) 365 days (or 366 days during a leap year) and (iii) the average daily value of such share class of such Portfolio held by the Separate Account(s) for the invoice period.
Appears in 9 contracts
Samples: Administrative Services Agreement (Minnesota Life Individual Variable Universal Life Account), Administrative Services Agreement (Variable Annuity Account), Administrative Services Agreement (Minnesota Life Individual Variable Universal Life Account)
