Common use of Administrative Service Fee Clause in Contracts

Administrative Service Fee. For the services rendered by IFS in its capacity as administrator, the Fund will pay IFS at the end of each calendar month an administrative services fee of 0.125% of the Fund’s average daily net assets on an annual basis for the Fund’s first $50 million of average daily net assets, 0.100% of the Fund’s average daily net assets on an annual basis for the Fund’s next $50 million of average daily net assets, 0.075% of the Fund’s average daily net assets on an annual basis for the Fund’s next $100 million of average daily net assets, 0.050% of the Fund’s average daily net assets on an annual basis for the Fund’s next $300 million of average daily net assets, and 0.025% of the Fund’s average daily net assets on an annual basis for the Fund’s average daily net assets in excess of $500 million, together with reimbursement of out-of-pocket expenses. The Fund will pay to IFS at the end of each calendar month a minimum administrative services fee of $2,000 per month and an additional fee of $500 per month will be charged by IFS for each additional share class. The net asset value for each share of the Fund shall be calculated in accordance with the provisions of the Fund’s current prospectus. On each day when net asset value is not calculated, the net asset value of a share of the Fund shall be deemed to be the net asset value of such a share as of the close of business on the last day on which such calculation was made for the purpose of the foregoing computation.

Administrative Service Fee. For the services rendered by IFS in its capacity as administrator, the Fund will pay IFS at the end of each calendar month an administrative services fee of 0.150% of the Fund’s average daily net assets on an annual basis for the Fund’s first $50 million of average daily net assets, 0.125% of the Fund’s average daily net assets on an annual basis for the Fund’s first next $50 million of average daily net assets, 0.100% of the Fund’s average daily net assets on an annual basis for the Fund’s next $50 100 million of average daily net assets, 0.075% of the Fund’s average daily net assets on an annual basis for the Fund’s next $100 million of average daily net assets, 0.050% of the Fund’s average daily net assets on an annual basis for the Fund’s next $300 million of average daily net assets, and 0.0250.050% of the Fund’s average daily net assets on an annual basis for the Fund’s average daily net assets in excess of $500 million, together with reimbursement of out-of-pocket expenses. The Fund will pay to IFS at the end of each calendar month a minimum administrative services fee of $2,000 per month and an additional fee of $500 per month will be charged by IFS for each additional share class. The net asset value for each share of the Fund shall be calculated in accordance with the provisions of the Fund’s current prospectus. On each day when net asset value is not calculated, the net asset value of a share of the Fund shall be deemed to be the net asset value of such a share as of the close of business on the last day on which such calculation was made for the purpose of the foregoing computation.

Administrative Service Fee. For the services rendered by IFS in its capacity as administrator, the each Fund will pay to IFS at the end of each calendar month an a monthly administrative services fee of 0.150% of the Fund’s average daily net assets on an annual basis for the Fund’s first $50 million of average daily net assets, 0.125% of the Fund’s average daily net assets on an annual basis for the Fund’s first next $50 million of average daily net assets, 0.100% of the Fund’s average daily net assets on an annual basis for the Fund’s next $50 100 million of average daily net assets, 0.075% of the Fund’s average daily net assets on an annual basis for the Fund’s next $100 million of average daily net assets, 0.050% of the Fund’s average daily net assets on an annual basis for the Fund’s next $300 million of average daily net assets, and 0.0250.050% of the Fund’s average daily net assets on an annual basis for the Fund’s average daily net assets in excess of $500 million, together with reimbursement of out-of-pocket expenses. The Each Fund will pay to IFS at the end of each calendar month a minimum administrative services fee of $2,000 per month and an additional fee of $500 per month will be charged by IFS for each additional share class. The net asset value for each share of the Fund shall be calculated in accordance with the provisions of the Fund’s current prospectus. On each day when net asset value is not calculated, the net asset value of a share of the Fund shall be deemed to be the net asset value of such a share as of the close of business on the last day on which such calculation was made for the purpose of the foregoing computation.