Common use of CALCULATION OF THE PERFORMANCE ADJUSTMENT Clause in Contracts

CALCULATION OF THE PERFORMANCE ADJUSTMENT. The Performance Adjustment for each fiscal quarter of the Fund shall be calculated by multiplying the appropriate Adjustment Percentage (shown below) to the Annual Percentage Rate applied to the average of the month-end net assets of the Chartwell Portfolio over the previous 36-months, and dividing the result by four. The Adjustment Percentage for each fiscal quarter of the Chartwell Portfolio shall be determined by applying the following Performance Adjustment Schedule to the cumulative performance of the Chartwell Portfolio relative to the Xxxxxxx Xxxxxx Growth Index (the "Index") over the rolling 36-month period applicable to such fiscal quarter. (See Fee Example #I .)

CALCULATION OF THE PERFORMANCE ADJUSTMENT. The Performance Adjustment for each fiscal quarter of the Fund shall be calculated by multiplying the appropriate Adjustment Percentage (shown below) to the Annual Percentage Rate applied to the average of the month-end net assets of the Chartwell Century Portfolio over the previous 36-months, and dividing the result by four. The Adjustment Percentage for each fiscal quarter of the Chartwell Century Portfolio shall be determined by applying the following Performance Adjustment Schedule to the cumulative performance of the Chartwell Century Portfolio relative to a 50/50 blend of the Xxxxxxx Xxxxxx Rxxxxxx 2500 and 2500 Growth Index (the "“Index"”) over the rolling 36-month period applicable to such fiscal quarter. (See Fee Example #I 1.)

CALCULATION OF THE PERFORMANCE ADJUSTMENT. The Performance Adjustment for each fiscal quarter of the Fund shall be calculated by multiplying the appropriate Adjustment Percentage (shown below) to the Annual Percentage Rate applied to the average of the month-end net assets of the Chartwell Sterling Portfolio over the previous 36-months, and dividing the result by four. The Adjustment Percentage for each fiscal quarter of the Chartwell Sterling Portfolio shall be determined by applying the following Performance Adjustment Schedule to the cumulative performance of the Chartwell Sterling Portfolio relative to the Xxxxxxx Xxxxxx Growth Rxxxxxx 2500 Value Index (the "“Index") ”), over the rolling 36-month period applicable to such fiscal quarter. (See Fee Example #I 1.)

CALCULATION OF THE PERFORMANCE ADJUSTMENT. The Performance Adjustment for each fiscal quarter of the Fund shall be calculated by multiplying the appropriate Adjustment Percentage (shown below) to the Annual Percentage Rate applied to the average of the month-end net assets of the Chartwell Cardinal Portfolio over the previous 36-months, and dividing the result by four. The Adjustment Percentage for each fiscal quarter of the Chartwell Cardinal Portfolio shall be determined by applying the following Performance Adjustment Schedule to the cumulative performance of the Chartwell Cardinal Portfolio relative to the Xxxxxxx Xxxxxx Growth Rxxxxxx Mid-Cap Value Custom Cap-Range Index (the "“Index") ”), over the rolling 36-month period applicable to such fiscal quarter. (See Fee Example #I 1.)