Common use of COMPENSATION OF SMC, LLC Clause in Contracts

COMPENSATION OF SMC, LLC. (a) As compensation for the services to be rendered by SMC, LLC to Equity Series and Global Series as provided for herein, for each of the years this Agreement is in effect, the Fund shall pay SMC, LLC an annual fee equal to (1) 2 percent of the first $10 million of the average daily net assets, 1 1/2 percent of the next $20 million of the average daily net assets, and 1 percent of the remaining average daily net assets of the Equity Series of the Fund for any fiscal year, and (2) 2 percent of the first $70 million of the average daily net assets and 1 1/2 percent of the remaining average daily net assets of the Global Series of the Fund for any fiscal year. Such fees shall be determined daily and payable monthly. As compensation for the investment advisory services to be rendered by SMC, LLC to Asset Allocation Series, Social Awareness Series and Value Series, for each of the years this agreement is in effect, the Asset Allocation Series, Social Awareness Series and Value Series shall each pay SMC, LLC an annual fee equal to 1% of their respective average daily net assets. Such fee shall be calculated daily and payable monthly. As compensation for the administrative services to be rendered by SMC, LLC to Asset Allocation Series, the Asset Allocation Series shall pay SMC, LLC an annual fee equal to .045% of the average daily net assets of Asset Allocation Series, plus the greater of .10% of its average daily net assets or (i) $30,000 in the year ended April 29, 1996; (ii) $45,000 in the year ending April 29, 1997, and (iii) $60,000 thereafter. Such fees shall be calculated daily and payable monthly. As compensation for the administrative services to be rendered by SMC, LLC to Social Awareness Series and Value Series, each such Series shall pay SMC, LLC an annual fee equal to .09% of their respective average daily net assets. Such fees shall be calculated daily and payable monthly. If this Agreement shall be effective for only a portion of a year, then SMC, LLC's compensation for said year shall be prorated for such portion. For purposes of this Section 3, the value of the net assets of each Series shall be computed in the same manner at the end of the business day as the value of such net assets is computed in connection with the determination of the net asset value of the Fund's shares as described in the Fund's prospectus. For transfer agency services provided by SMC, LCC to Asset Allocation Series, Social Awareness Series, and Value Series, each such Series shall pay a Maintenance Fee of $8.00 per account, a Transaction Fee of $1.00 per account and a Dividend Fee of $1.00 per account.

COMPENSATION OF SMC, LLC. (a) As compensation for the services to be rendered by SMC, LLC to Equity Series and Global Series as provided for herein, for each of the years this Agreement is in effect, the Fund shall pay SMC, LLC an annual fee equal to (1) 2 percent of the first $10 million of the average daily net assets, 1 1/2 percent of the next $20 million of the average daily net assets, and 1 percent of the remaining average daily net assets of the Equity Series of the Fund for any fiscal year, and (2) 2 percent of the first $70 million of the average daily net assets and 1 1/2 percent of the remaining average daily net assets of the Global Series of the Fund for any fiscal year. Such fees shall be determined daily and payable monthly. As compensation for the investment advisory services to be rendered by SMC, LLC to Asset Allocation Series, Social Awareness Series, Value Series and Value Small Company Series, for each of the years this agreement is in effect, the Asset Allocation Series, Social Awareness Series, Value Series and Value Small Company Series shall each pay SMC, LLC an annual fee equal to 1% of their respective average daily net assets. Such fee shall be calculated daily and payable monthly. As compensation for the administrative services to be rendered by SMC, LLC to Asset Allocation Series, the Asset Allocation Series shall pay SMC, LLC an annual fee equal to .045% of the average daily net assets of Asset Allocation Series, plus the greater of .10% of its average daily net assets or (i) $30,000 in the year ended April 29, 1996; (ii) $45,000 in the year ending April 29, 1997, and (iii) $60,000 thereafter. Such fees shall be calculated daily and payable monthly. As compensation for the administrative services to be rendered by SMC, LLC to Social Awareness Series, Value Series and Value Small Company Series, each such Series shall pay SMC, LLC an annual fee equal to .09% of their respective average daily net assets. Such fees shall be calculated daily and payable monthly. If this Agreement shall be effective for only a portion of a year, then SMC, LLC's compensation for said year shall be prorated for such portion. For purposes of this Section 3, the value of the net assets of each Series shall be computed in the same manner at the end of the business day as the value of such net assets is computed in connection with the determination of the net asset value of the Fund's shares as described in the Fund's prospectus. For transfer agency services provided by SMC, LCC to Asset Allocation Series, Social Awareness Series, and Value Series, each such Series shall pay a Maintenance Fee of $8.00 per account, a Transaction Fee of $1.00 per account and a Dividend Fee of $1.00 per account.payable

COMPENSATION OF SMC, LLC. (a) As compensation for the services to be rendered by SMC, LLC to Equity Series and Global Series as provided for herein, for each of the years this Agreement is in effect, the Fund shall pay SMC, LLC an annual fee equal to (1) 2 percent of the first $10 million of the average daily net assets, 1 1/2 percent of the next $20 million of the average daily net assets, and 1 percent of the remaining average daily net assets of the Equity Series of the Fund for any fiscal year, and (2) 2 percent of the first $70 million of the average daily net assets and 1 1/2 percent of the remaining average daily net assets of the Global Series of the Fund for any fiscal year. Such fees shall be determined daily and payable monthly. As compensation for the investment advisory services to be rendered by SMC, LLC to Asset Allocation Series, Social Awareness Series, Value Series and Value Small Company Series, for each of the years this agreement is in effect, the Asset Allocation Series, Social Awareness Series, Value Series and Value Small Company Series shall each pay SMC, LLC an annual fee equal to 1% of their respective average daily net assets. Such fee shall be calculated daily and payable monthly. As compensation for the administrative services to be rendered by SMC, LLC to Asset Allocation Series, the Asset Allocation Series shall pay SMC, LLC an annual fee equal to .045% of the average daily net assets of Asset Allocation Series, plus the greater of .10% of its average daily net assets or (i) $30,000 in the year ended April 29, 1996; (ii) $45,000 in the year ending April 29, 1997, and (iii) $60,000 thereafter. Such fees shall be calculated daily and payable monthly. As compensation for the administrative services to be rendered by SMC, LLC to Social Awareness Series, Value Series and Value Small Company Series, each such Series shall pay SMC, LLC an annual fee equal to .09% of their respective average daily net assets. Such fees shall be calculated daily and payable monthly. If this Agreement shall be effective for only a portion of a year, then SMC, LLC's compensation for said year shall be prorated for such portion. For purposes of this Section 3, the value of the net assets of each Series shall be computed in the same manner at the end of the business day as the value of such net assets is computed in connection with the determination of the net asset value of the Fund's shares as described in the Fund's prospectus. For transfer agency services provided by SMC, LCC to Asset Allocation Series, Social Awareness Series, Value Series, and Value Small Company Series, each such Series shall pay a Maintenance Fee of $8.00 per account, a Transaction Fee of $1.00 per account and a Dividend Fee of $1.00 per account.