Common use of Beneficial Owner Servicing Fees to Third Parties Clause in Contracts

Beneficial Owner Servicing Fees to Third Parties. Subject to the limitation set forth in paragraph (d) below, the Investment Company will reimburse FTIS for servicing fee payments ("Beneficial Owner Servicing Fees") made by FTIS on the Investment Company's behalf to institutions that: (i) maintain a master account with a Fund in the institution's name ("Omnibus Account") on behalf of numerous beneficial owners of Omnibus Account assets; or (ii) maintain a master account with a Fund in the institution's name on behalf of an employer sponsored retirement plan (a "Plan Account") and provide, directly or indirectly under separate contract with the retirement plan, participant level accounting for each plan participant with a beneficial ownership in Plan Account assets. Each beneficial owner with an interest in Fund shares held in an Omnibus Account and each plan participant with an interest in Fund shares held in a Plan Account is referred to in this Agreement as a "Beneficial Owner".