Common use of COMPENSATION OF SMC Clause in Contracts

COMPENSATION OF SMC. (a) As compensation for the services to be rendered by SMC 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 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 to Asset Allocation Series and to Social Awareness Series, for each of the years this agreement is in effect, each of the Asset Allocation Series and Social Awareness Series shall pay SMC 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 to Asset Allocation Series, the Asset Allocation Series shall pay SMC 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 ending April 29, 1996; (ii) $45,000 in the year ending April 29, 1997, and (iii) $60,000 thereafter. Such fee shall be calculated daily and payable monthly. As compensation for the administrative services to be rendered by SMC to Social Awareness Series, the Social Awareness Series shall pay SMC an annual fee equal to .09% of the average daily net assets of the Social Awareness Series. Such fee shall be calculated daily and payable monthly. If this Agreement shall be effective for only a portion of a year, then SMC'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 to Asset Allocation Series and to Social Awareness 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. (a) As compensation for the services to be rendered by SMC 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 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 to Asset Allocation Social Awareness Series, Value Series and to Social Awareness Small Company Series, for each of the years this agreement Agreement is in effect, each of the Asset Allocation Social Awareness Series, Value Series and Social Awareness Small Company Series shall each pay SMC 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 investment advisory services to be rendered by SMC to Asset Allocation SeriesInternational Series for each of the years this Agreement is in effect, the Asset Allocation International Series shall pay SMC an annual fee equal to .0451.10% of its average daily net assets. Such fee shall be calculated daily and payable monthly. As compensation for the investment advisory services to be rendered by SMC to Total Return Series, Enhanced Index Series and Select 25 Series for each of the years this Agreement is in effect, the Total Return Series, Enhanced Index Series and Select 25 Series shall each pay SMC an annual fee equal to .75% 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 to International Series, the International Series shall pay SMC an annual fee equal to .05% of the average daily net assets of Asset Allocation International Series, plus the greater of .10% of its average daily net assets or (i) $30,000 in the year ending April 29ended January 31, 19962000; (ii) $45,000 in the year ending April 29January 31, 1997, 2001 and (iii) $60,000 thereafter. Such fee fees shall be calculated daily and payable monthly. As compensation for the administrative services to be rendered by SMC to Total Return Series, Social Awareness Series, the Social Awareness Value Series, Small Company Series, Enhanced Index Series and Select 25 Series, each such Series shall pay SMC an annual fee equal to .09% of the their respective average daily net assets of the Social Awareness Seriesassets. Such fee fees shall be calculated daily and payable monthly. If this Agreement shall be effective for only a portion of a year, then SMC'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 to Asset Allocation Series and to Total Return Series, Social Awareness Series, Value Series, Small Company Series, International Series, Enhanced Index Series, and Select 25 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. (a) As compensation for the investment advisory services to be rendered by SMC to Equity Global Series, Social Awareness Series, Mid Cap Value Series, Small Cap Growth Series, Large Cap Growth Series and Global Series as provided for hereinTechnology Series, for each of the years this Agreement is in effect, each of the Fund foregoing Series shall pay SMC an annual fee equal to (1) 2 percent 1.00% of the first $10 million of the its respective 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 fee shall be determined calculated daily and payable monthly. As compensation for the investment advisory services to be rendered by SMC to Asset Allocation International Series and to Social Awareness Series, for each of the years this agreement Agreement is in effect, each of the Asset Allocation Series and Social Awareness International Series shall pay SMC an annual fee equal to 11.10% of their its average daily net assets. Such fee shall be calculated daily and payable monthly. As compensation for the investment advisory services to be rendered by SMC to Equity Series, Total Return Series, Enhanced Index Series and Select 25 Series for each of the years this Agreement is in effect, each of the foregoing Series shall pay SMC an annual fee equal to 0.75% of its 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 to Asset Allocation Global, International and Technology Series, each of the Asset Allocation foregoing Series shall pay SMC an annual fee equal to .0450.045% of the its average daily net assets of Asset Allocation Seriesassets, plus the greater of .100.10% of its average daily net assets or (i) $30,000 in the year ending April 29, 1996; (ii) $45,000 in the year ending April 29, 1997, and (iii) $60,000 thereafter60,000. Such fee fees shall be calculated daily and payable monthly. As compensation for the administrative services to be rendered by SMC to Social Awareness Serieseach of the other Series of the Fund, the Social Awareness each such Series shall pay SMC an annual fee equal to .090.09% of the its average daily net assets of the Social Awareness Seriesassets. Such fee fees shall be calculated daily and payable monthly. If this Agreement shall be effective for only a portion of a year, then SMC'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 to Asset Allocation each Series and to Social Awareness Seriesof the Fund, each such Series shall pay a Maintenance Fee of $8.00 per account, a Transaction Fee of $1.00 per transaction per account and a Dividend Fee of $1.00 per dividend per account. For the purpose of calculating the Maintenance, Transaction and Dividend Fees applicable to each Series, SMC may count as a shareholder account each person that holds a beneficial interest in an omnibus account maintained on SMC's transfer agency system by a third-party administrator, broker/dealer, bank, insurance company or other entity; provided that SMC is paying such third-party administrator, broker/dealer, bank, insurance company or other entity sub-administrative, sub-accounting and/or sub-transfer agency fees for keeping individual shareholder records in connection with an investment in the Fund.

COMPENSATION OF SMC. (a) As compensation for the services to be rendered by SMC 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 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 to Asset Allocation Total Return Series, Enhanced Index Series and to Social Awareness Series, Select 25 Series for each of the years this agreement Agreement is in effect, such Series shall each pay SMC an annual fee equal to .75% of their respective average daily net assets. Such fee shall be calculated daily and payable monthly. As compensation for the investment advisory services to be rendered by SMC to Social Awareness Series, Mid Cap Value Series, Small Cap Growth Series, Large Cap Growth Series, and Technology Series for each of the Asset Allocation Series and Social Awareness years this Agreement is in effect, such Series shall each pay SMC 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 investment advisory services to be rendered by SMC to International Series for each of the years this Agreement is in effect, the International Series shall pay SMC an annual fee equal to 1.10% of its average daily net assets. Such fee shall be calculated daily and payable monthly. As compensation for the administrative services to be rendered by SMC to Asset Allocation the International Series, the Asset Allocation International Series shall pay SMC an annual fee equal to .045% of the average daily net assets of Asset Allocation International Series, plus the greater of .10% of its average daily net assets or (i) $45,000 in the year ending January 31, 2001 and (ii) $60,000 thereafter. Such fees shall be calculated daily and payable monthly. As compensation for the administrative services to be rendered by SMC to the Technology Series, the Technology Series shall pay SMC an annual fee equal to .045% of the average daily net assets of International Series, plus the greater of .10% of its average daily net assets or (i) $30,000 in the year ending April 2930, 1996; 2001, (ii) $45,000 in the year ending April 2930, 1997, 2002 and (iii) $60,000 thereafter. Such fee fees shall be calculated daily and payable monthly. As compensation for the administrative services to be rendered by SMC to Total Return Series, Social Awareness Series, the Social Awareness Mid Cap Value Series, Small Cap Growth Series, Enhanced Index Series, Select 25 Series, and Large Cap Growth Series, each such Series shall pay SMC an annual fee equal to .09% of the their respective average daily net assets of the Social Awareness Seriesassets. Such fee fees shall be calculated daily and payable monthly. If this Agreement shall be effective for only a portion of a year, then SMC'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 to Asset Allocation each Series other than Equity and to Social Awareness Global 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. (a) As compensation for the services to be rendered by SMC 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 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 to Asset Allocation Series and to Social Awareness Series, for each of the years this agreement is in effect, each of the Asset Allocation Series and Social Awareness Series shall pay SMC an annual fee equal to 1% of their respective the average daily net assets. Such fee shall be calculated daily and payable monthlyassets of the Asset Allocation Series. As compensation for the administrative services to be rendered by SMC to Asset Allocation Series, the Asset Allocation Series shall pay SMC 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 ending April 29, 1996; (ii) $45,000 in the year ending April 29, 1997, and (iii) $60,000 thereafter. Such fee shall be calculated daily and payable monthly. As compensation for the administrative services to be rendered by SMC to Social Awareness Series, the Social Awareness Series shall pay SMC an annual fee equal to .09% of the average daily net assets of the Social Awareness Series. Such fee fees shall be calculated daily and payable monthly. If this Agreement shall be effective for only a portion of a year, then SMC'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 to Asset Allocation Series and to Social Awareness Series, each such Asset Allocation 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.