Common use of Compensation of Investment Manager Clause in Contracts

Compensation of Investment Manager. Investment Manager shall be compensated in accordance with the fee schedule incorporated herein and the value of the account at the end of each quarter. The Investment Manager shall not be compensated on the basis of a share of capital gains or capital appreciation of the funds or any portion of the funds of the client. Fees will be accrued on a dialy basis and will be payable at the end of each month. The Investment Manager agrees to accept responsibility for the receipt and accounting of fees assessed to the Funds as calculated by the administrator to the Funds, Mutual Shareholder Services. The Investment Manager will receive and hold the assessed fees in a segregated account for the sole purpose of paying expenses of the Funds. The fee structure for the Manor Fund shall consist of an Investment Management fee of 0.75% of total average assets on an annual basis, and an Administrative fee of 0.50% of total average assets on an annual basis. The fee structure for the Manor Growth Fund shall consist of an Investment Management fee of 0.75% of total average assets on an annual basis, and an Administrative fee of 0.24% of total average assets on an annual basis. The fee structure for the Manor Bond Fund shall consist of an Investment Management fee of 0.50% of total average assets on an annual basis, and an Administrative fee of 0.45% of total average assets on an annual basis.

Compensation of Investment Manager. Investment Manager shall be compensated in accordance with the fee schedule incorporated herein and the value of the account at the end of each quarter. The Investment Manager shall not be compensated on the basis of a share of capital gains or capital appreciation of the funds or any portion of the funds of the client. Fees will be accrued on a dialy daily basis and will be payable at the end of each month. The Investment Manager agrees to accept responsibility for the receipt and accounting of fees assessed to the Funds as calculated by the administrator to the Funds, Mutual Shareholder Services. The Investment Manager will receive and hold the assessed fees in a segregated account for the sole purpose of paying expenses of the Funds. The fee structure for the Manor Fund shall consist of an Investment Management fee of 0.75% of total average assets on an annual basis, and an Administrative fee of 0.50% of total average assets on an annual basis. The fee structure for the Manor Growth Fund shall consist of an Investment Management fee of 0.75% of total average assets on an annual basis, and an Administrative fee of 0.24% of total average assets on an annual basis. The fee structure for the Manor Bond Fund shall consist of an Investment Management fee of 0.50% of total average assets on an annual basis, and an Administrative fee of 0.45% of total average assets on an annual basis.