Common use of Capital Appreciation Value Trust Clause in Contracts

Capital Appreciation Value Trust. If net assets are less than $500 million, the following fee schedule shall apply: Portfolio First $250 million of Net Assets Excess Over $250 million of Net Assets Capital Appreciation Value Trust 0.950 % 0.850 % If net assets equal or exceed $500 million but are less than $2 billion, the following fee schedule shall apply: Portfolio First $1 billion of Net Assets Excess Over $1 billion of Net Assets Capital Appreciation Value Trust 0.850 % 0.800 % If net assets equal or exceed $2 billion but are less than $3 billion, the following fee schedule shall apply: Portfolio First $500 million of Net Assets Excess Over $500 million of Net Assets Capital Appreciation Value Trust 0.850 % 0.800 % If net assets equal or exceed $3 billion, the following fee schedule shall apply: Portfolio All Asset Levels Capital Appreciation Value Trust 0.800 % Total Return Trust The Adviser shall serve as investment adviser for the Portfolio of the Trust listed below. The Trust will pay the Adviser, as full compensation for all services provided under this Agreement with respect to the Portfolio, the fee computed separately for the Portfolio at an annual rate as follows (the "Adviser Fee"). Pacific Investment Management Company (“PIMCO”) is the Subadviser to the Portfolio During the period during which PIMCO is the subadviser to the Portfolio, if Relationship Net Assets* equal or exceed $3 Billion, the following fee schedule shall apply: Portfolio First $1 Billion of Total Return Net Assets** Excess Over $1 Billion of Total Return Net Assets** Total Return Trust 0.700 % 0.675 % If Relationship Net Assets* are less than $3 Billion, the following fee schedule shall apply: Portfolio All Asset Levels Total Return Trust 0.700 % *The term Relationship Net Assets shall mean the aggregate net assets of all portfolios of the Jxxx Hxxxxxx Trust and the Jxxx Hxxxxxx Funds II that are subadvised by PIMCO. These funds currently include the Total Return Trust, the Real Return Bond Trust and the Global Bond Trust, each a series of the Trust, and the Total Return Fund, the Real Return Bond Fund and the Global Bond Fund, each a series of Jxxx Hxxxxxx Funds II. PIMCO is not the Subadviser to the Portfolio If PIMCO is not the subadviser to the Portfolio, the following fee schedule shall apply: Portfolio First $1 Billion of Total Return Net Assets** Excess Over $1 Billion of Total Return Net Assets** Total Return Trust 0.700 % 0.675 % **The term Total Return Net Assets includes the net assets of the Portfolio. It also includes with respect to the Portfolio the net assets of the Total Return Fund, a series of Jxxx Hxxxxxx Funds II but only for the period during which the subadviser for the Portfolio also serves as the subadviser for the Total Return Fund. For purposes of determining Total Return Net Assets and calculating the Advisory Fee, the net assets of the Portfolio are determined as of the close of business on the previous business day of the Trust, and the net assets of the Total Return Trust are determined as of the close of business on the previous business day of that fund. The Adviser Fee for a Portfolio shall be based on the applicable annual fee rate for the Portfolio which for each day shall be equal to (i) the sum of the amounts determined by applying the annual percentage rates in the table to the applicable portions of Total Return Net Assets divided by (ii) Total Return Net Assets (the “Applicable Annual Fee Rate”). The Adviser Fee for each Portfolio shall be accrued and paid daily to the Adviser for each calendar day. The daily fee accruals will be computed by multiplying the fraction of one over the number of calendar days in the year by the Applicable Annual Fee Rate, and multiplying this product by the net assets of the Portfolio. Fees shall be paid either by wire transfer or check, as directed by the Adviser. If, with respect to any Portfolio, this Agreement becomes effective or terminates, or if the manner of determining the Applicable Annual Fee Rate changes, before the end of any month, the fee (if any) for the period from the effective date to the end of such month or from the beginning of such month to the date of termination or from the beginning of such month to the date such change, as the case may be, shall be prorated according to the proportion which such period bears to the full month in which such effectiveness or termination or change occurs.

Capital Appreciation Value Trust. If net assets are less than $500 million, the following fee schedule shall apply: Portfolio First $250 million of Net Assets Excess Over $250 million of Net Assets Capital Appreciation Value Trust 0.950 % 0.850 % If net assets equal or exceed $500 million but are less than $2 billion, the following fee schedule shall apply: Portfolio First $1 billion of Net Assets Excess Over $1 billion of Net Assets Capital Appreciation Value Trust 0.850 % 0.800 % If net assets equal or exceed $2 billion but are less than $3 billion, the following fee schedule shall apply: Portfolio First $500 million of Net Assets Excess Over $500 million of Net Assets Capital Appreciation Value Trust 0.850 % 0.800 % If net assets equal or exceed $3 billion, the following fee schedule shall apply: Portfolio All Asset Levels Capital Appreciation Value Trust 0.800 % Total Return Trust The Adviser shall serve as investment adviser for the Portfolio of the Trust listed below. The Trust will pay the Adviser, as full compensation for all services provided under this Agreement with respect to the Portfolio, the fee computed separately for the Portfolio at an annual rate as follows (the "Adviser Fee"). Pacific Investment Management Company (“PIMCO”) is the Subadviser to the Portfolio During the period during which PIMCO is the subadviser to the Portfolio, if Relationship Net Assets* equal or exceed $3 Billion, the following fee schedule shall apply: Portfolio First $1 Billion of Total Return Net Assets** Excess Over $1 Billion of Total Return Net Assets** Total Return Trust 0.700 % 0.675 % If Relationship Net Assets* are less than $3 Billion, the following fee schedule shall apply: Portfolio All Asset Levels Total Return Trust 0.700 % *The term Relationship Net Assets shall mean the aggregate net assets of all portfolios of the Jxxx Hxxxxxx Xxxx Xxxxxxx Trust and the Jxxx Hxxxxxx Xxxx Xxxxxxx Funds II that are subadvised by PIMCO. These funds currently include the Total Return Trust, the Real Return Bond Trust and the Global Bond Trust, each a series of the Trust, and the Total Return Fund, the Real Return Bond Fund and the Global Bond Fund, each a series of Jxxx Hxxxxxx Xxxx Xxxxxxx Funds II. PIMCO is not the Subadviser to the Portfolio If PIMCO is not the subadviser to the Portfolio, the following fee schedule shall apply: Portfolio First $1 Billion of Total Return Net Assets** Excess Over $1 Billion of Total Return Net Assets** Total Return Trust 0.700 % 0.675 % **The term Total Return Net Assets includes the net assets of the Portfolio. It also includes with respect to the Portfolio the net assets of the Total Return Fund, a series of Jxxx Hxxxxxx Xxxx Xxxxxxx Funds II but only for the period during which the subadviser for the Portfolio also serves as the subadviser for the Total Return Fund. For purposes of determining Total Return Net Assets and calculating the Advisory Fee, the net assets of the Portfolio are determined as of the close of business on the previous business day of the Trust, and the net assets of the Total Return Trust are determined as of the close of business on the previous business day of that fund. The Adviser Fee for a Portfolio shall be based on the applicable annual fee rate for the Portfolio which for each day shall be equal to (i) the sum of the amounts determined by applying the annual percentage rates in the table to the applicable portions of Total Return Net Assets divided by (ii) Total Return Net Assets (the “Applicable Annual Fee Rate”). The Adviser Fee for each Portfolio shall be accrued and paid daily to the Adviser for each calendar day. The daily fee accruals will be computed by multiplying the fraction of one over the number of calendar days in the year by the Applicable Annual Fee Rate, and multiplying this product by the net assets of the Portfolio. Fees shall be paid either by wire transfer or check, as directed by the Adviser. If, with respect to any Portfolio, this Agreement becomes effective or terminates, or if the manner of determining the Applicable Annual Fee Rate changes, before the end of any month, the fee (if any) for the period from the effective date to the end of such month or from the beginning of such month to the date of termination or from the beginning of such month to the date such change, as the case may be, shall be prorated according to the proportion which such period bears to the full month in which such effectiveness or termination or change occurs.

Capital Appreciation Value Trust. If net assets are less than $500 million, the following fee schedule shall apply: Portfolio First $250 million of Net Assets Excess Over $250 million of Net Assets Capital Appreciation Value Trust 0.950 0.950% 0.850 0.850% If net assets equal or exceed $500 million but are less than $2 billion, the following fee schedule shall apply: Portfolio First $1 billion of Net Assets Excess Over $1 billion of Net Assets Capital Appreciation Value Trust 0.850 0.850% 0.800 0.800% If net assets equal or exceed $2 billion but are less than $3 billion, the following fee schedule shall apply: Portfolio First $500 million of Net Assets Excess Over $500 million of Net Assets Capital Appreciation Value Trust 0.850 0.850% 0.800 0.800% If net assets equal or exceed $3 billion, the following fee schedule shall apply: Portfolio All Asset Levels Capital Appreciation Value Trust 0.800 0.800% Total Return Trust The Adviser shall serve as investment adviser for the Portfolio of the Trust listed below. The Trust will pay the Adviser, as full compensation for all services provided under this Agreement with respect to the Portfolio, the fee computed separately for the Portfolio at an annual rate as follows (the "Adviser Fee"). Pacific Investment Management Company (“PIMCO”) is the Subadviser to the Portfolio During the period during which PIMCO is the subadviser to the Portfolio, if Relationship Net Assets* equal or exceed $3 Billion, the following fee schedule shall apply: Portfolio First $1 Billion of Total Return Net Assets** Excess Over $1 Billion of Total Return Net Assets** Total Return Trust 0.700 0.700% 0.675 0.675% If Relationship Net Assets* are less than $3 Billion, the following fee schedule shall apply: Portfolio All Asset Levels Total Return Trust 0.700 0.700% *The term Relationship Net Assets shall mean the aggregate net assets of all portfolios of the Jxxx Hxxxxxx Xxxx Xxxxxxx Trust and the Jxxx Hxxxxxx Xxxx Xxxxxxx Funds II that are subadvised by PIMCO. These funds currently include the Total Return Trust, the Real Return Bond Trust and the Global Bond Trust, each a series of the Trust, and the Total Return Fund, the Real Return Bond Fund and the Global Bond Fund, each a series of Jxxx Hxxxxxx Xxxx Xxxxxxx Funds II. PIMCO is not the Subadviser to the Portfolio If PIMCO is not the subadviser to the Portfolio, the following fee schedule shall apply: Portfolio First $1 Billion of Total Return Net Assets** Excess Over $1 Billion of Total Return Net Assets** Total Return Trust 0.700 0.700% 0.675 0.675% **The term Total Return Net Assets includes the net assets of the Portfolio. It also includes with respect to the Portfolio the net assets of the Total Return Fund, a series of Jxxx Hxxxxxx Xxxx Xxxxxxx Funds II but only for the period during which the subadviser for the Portfolio also serves as the subadviser for the Total Return Fund. For purposes of determining Total Return Net Assets and calculating the Advisory Fee, the net assets of the Portfolio are determined as of the close of business on the previous business day of the Trust, and the net assets of the Total Return Trust are determined as of the close of business on the previous business day of that fund. The Adviser Fee for a Portfolio shall be based on the applicable annual fee rate for the Portfolio which for each day shall be equal to (i) the sum of the amounts determined by applying the annual percentage rates in the table to the applicable portions of Total Return Net Assets divided by (ii) Total Return Net Assets (the “Applicable Annual Fee Rate”). The Adviser Fee for each Portfolio shall be accrued and paid daily to the Adviser for each calendar day. The daily fee accruals will be computed by multiplying the fraction of one over the number of calendar days in the year by the Applicable Annual Fee Rate, and multiplying this product by the net assets of the Portfolio. Fees shall be paid either by wire transfer or check, as directed by the Adviser. If, with respect to any Portfolio, this Agreement becomes effective or terminates, or if the manner of determining the Applicable Annual Fee Rate changes, before the end of any month, the fee (if any) for the period from the effective date to the end of such month or from the beginning of such month to the date of termination or from the beginning of such month to the date such change, as the case may be, shall be prorated according to the proportion which such period bears to the full month in which such effectiveness or termination or change occurs.