Common use of Compensation and Services to be Rendered Clause in Contracts

Compensation and Services to be Rendered. (a) The Company will pay Cowen an annual fee in connection with the servicing of Fund shareholder accounts. The annual fee paid to Cowen under this Agreement will be calculated daily and paid monthly by the Company at the annual rate of .25% of the average daily net assets with respect to each of the Classes. (b) The annual fee will be used by Cowen to provide compensation for ongoing servicing and/or maintenance of shareholder accounts with the Fund and to cover an allocable portion of overhead and other Cowen branch office expenses related to the servicing and/or maintenance of shareholder accounts. Compensation will be paid by Cowen to persons, including Cowen employees, who respond to inquiries of shareholders of the Fund regarding their ownership of shares or their accounts with the Fund or who provide other similar services not otherwise required to be provided by the Fund's manager, investment adviser, transfer agent or other agent of the Fund.