Common use of Compensation of the Portfolio Manager Clause in Contracts

Compensation of the Portfolio Manager. The compensation of the Portfolio Manager for its services under this Agreement shall be calculated and paid by the Adviser in accordance with the attached Schedule B. Pursuant to the provisions of the Investment Advisory Agreement between the Company and the Adviser, the Adviser is solely responsible for the payment of fees to the Portfolio Manager, and the Portfolio Manager agrees to seek payment of its fees solely from the Adviser. As to the Fund, if, in any fiscal year, the Adviser is obligated pursuant to the Investment Advisory Agreement to waive fees payable to it by the Fund or reimburse expenses to the Fund, the Portfolio Manager shall pay to the Adviser an amount equal to 75% of such fee waiver or expense reimbursement and the Adviser shall remain liable to the Company for the full amount of such fee waiver or expense reimbursement.