Common use of Compensation of the Advisor Clause in Contracts

Compensation of the Advisor. a) As compensation for the services rendered and obligations assumed hereunder by the Advisor, the Trust shall pay to the Advisor monthly a fee that is equal on an annual basis to that percentage of the average daily net assets of each Fund set forth on Schedule 1 attached hereto (and with respect to any future Fund, such percentage as the Trust and the Advisor may agree to from time to time). Such fee shall be computed and accrued daily. If the Advisor serves as investment advisor for less than the whole of any period specified in this Section 4a, the compensation to the Advisor shall be prorated. For purposes of calculating the Advisor's fee, the daily value of each Fund's net assets shall be computed by the same method as the Trust uses to compute the net asset value of that Fund. b) The Advisor will pay all fees owing to each Sub-Advisor, and the Trust shall not be obligated to the Sub-Advisors in any manner with respect to the compensation of such Sub-Advisors. c) The Advisor reserves the right to waive all or a part of its fee.

Compensation of the Advisor. a) As compensation for the services rendered and obligations assumed hereunder by the Advisor, the Trust shall pay to the Advisor monthly a fee that is equal on an annual basis to that percentage of the average daily net assets of each Fund Portfolio set forth on Schedule 1 attached hereto (and with respect to any future FundPortfolio, such percentage as the Trust and the Advisor may agree to from time to time). Such fee shall be computed and accrued daily. If the Advisor serves as investment advisor for less than the whole of any period specified in this Section 4a, the compensation to the Advisor shall be prorated. For purposes of calculating the Advisor's fee, the daily value of each FundPortfolio's net assets shall be computed by the same method as the Trust uses to compute the net asset value of that FundPortfolio. b) The Advisor will pay all fees owing to each Sub-Portfolio Advisor, and the Trust shall not be obligated to the Sub-Portfolio Advisors in any manner with respect to the compensation of such Sub-Portfolio Advisors. c) The Advisor reserves the right to waive all or a part of its fee.