COMPENSATION TO BE PAID BY THE FUND TO THE MANAGER. The Fund will pay to the Manager as compensation for the Manager's services rendered, for the facilities furnished and for the expenses borne by the Manager pursuant to paragraphs (a), (b), (c) and (e) of Section 1, a fee, computed and paid quarterly at the following annual rates for each series of the Fund: Putnam International Growth axx Xxxome Fund and Putnam High Yield Total Rxxxxx (a) 0.80% of the first $500 million of the average net asset value of each series; (b) 0.70% of the next $500 million of such average net asset value; (c) 0.65% of the next $500 million of such average net asset value; (d) 0.60% of the next $5 billion of such average net asset value; (e) 0.575% of the next $5 billion of such average net asset value; (f) 0.555% of the next $5 billion of such average net asset value; (g) 0.54% of the next $5 billion of such average net asset value; and (h) 0.53% of any excess thereafter. Putnam Equity Fund 97: (x) 0.70% of the first $500 million of the average net asset value; (b) 0.60% of the next $500 million of such average net asset value; (c) 0.55% of the next $500 million of such average net asset value; (d) 0.50% of the next $5 billion of such average net asset value; (e) 0.475% of the next $5 billion of such average net asset value; (f) 0.455% of the next $5 billion of such average net asset value; (g) 0.44% of the next $5 billion of such average net asset value; and (h) 0.43% of any excess thereafter. Putnam High Yield Fund II (x) of the first $500 million of the average net asset value of each series; (b) of the next $500 million of such average net asset value; (c) of the next $500 million of such average net asset value; (d) of the next $5 billion of such average net asset value; (e) of the next $5 billion of such average net asset value;
Appears in 2 contracts
Samples: Management Contract (Putnam Funds Trust), Management Contract (Putnam Funds Trust)
COMPENSATION TO BE PAID BY THE FUND TO THE MANAGER. The Fund will pay to the Manager as compensation for the Manager's services rendered, for the facilities furnished and for the expenses borne by the Manager pursuant to paragraphs (a), (b), (c) and (e) of Section 1, a fee, computed and paid quarterly at the following annual rates for each series of the Fund: Putnam International Growth axx Xxxome Fund and Putnam High Yield Total RxxxxxXXXXXX BALANCED FUND, XXXXXX RESEARCH FUND AND XXXXXX RESEARCHCAPITAL OPPORTUNITIES FUND:
(a) 0.65% of the first $500 million of the average net asset value of the series;
(b) 0.55% of the next $500 million of such average net asset value;
(c) 0.50% of the next $500 million of such average net asset value;
(d) 0.45% of the next $5 billion of such average net asset value;
(e) 0.425% of the next $5 billion of such average net asset value;
(f) 0.405% of the next $5 billion of such average net asset value;
(g) 0.39% of the next $5 billion of such average net asset value; and
(h) 0.38% of any excess thereafter. XXXXXX NEW VALUE FUND,FUND AND XXXXXX GROWTH OPPORTUNITIES FUND AND PUTNAM U.S. CORE FUND II:
(a) 0.70% of the first $500 million of the average net asset value of the series;
(b) 0.60% of the next $500 million of such average net asset value;
(c) 0.55% of the next $500 million of such average net asset value;
(d) 0.50% of the next $5 billion of such average net asset value;
(e) 0.475% of the next $5 billion of such average net asset value;
(f) 0.455% of the next $5 billion of such average net asset value;
(g) 0.44% of the next $5 billion of such average net asset value; and
(h) 0.43% of any excess thereafter. XXXXXX GLOBAL EQUITY FUND, XXXXXX GLOBAL GROWTH AND INCOME FUND, XXXXXX INTERNATIONAL FUND AND XXXXXX SMALL CAP VALUE FUND:
(a) 0.80% of the first $500 million of the average net asset value of each the series;
(b) 0.70% of the next $500 million of such average net asset value;
(c) 0.65% of the next $500 million of such average net asset value;
(d) 0.60% of the next $5 billion of such average net asset value;
(e) 0.575% of the next $5 billion of such average net asset value;
(f) 0.555% of the next $5 billion of such average net asset value;
(g) 0.54% of the next $5 billion of such average net asset value; and
(h) 0.53% of any excess thereafter. Putnam Equity Fund 97XXXXXX INTERNATIONAL NEW OPPORTUNITIES FUND, XXXXXX INTERNATIONAL VOYAGER FUND AND XXXXXX EMERGING MARKETS FUND:
(xa) 0.701.20% of the first $500 million of the average net asset valuevalue of the series;
(b) 0.601.10% of the next $500 million of such average net asset value;
(c) 0.551.05% of the next $500 million of such average net asset value;
(d) 0.501.00% of the next $5 billion of such average net asset value;
(e) 0.4750.975% of the next $5 billion of such average net asset value;
(f) 0.4550.955% of the next $5 billion of such average net asset value;
(g) 0.440.94% of the next $5 billion of such average net asset value; and
(h) 0.430.93% of any excess thereafter. Putnam High Yield Fund II
(x) of the first $500 million of the Such average net asset value shall be determined by taking an average of each series;
(b) all of the next $500 million determinations of such average net asset value;
(c) value during such quarter at the close of business on each business day during such quarter while this Contract is in effect. Such fee shall be payable for each fiscal quarter within 30 days after the close of such quarter and shall commence accruing as of the next $500 million date of the initial issuance of shares of the Fund to the public. The fees payable by the Fund to the Manager pursuant to this Section 3 shall be reduced by any commissions, fees, brokerage or similar payments received by the Manager or any affiliated person of the Manager in connection with the purchase and sale of portfolio investments of the Fund, less any direct expenses approved by the Trustees incurred by the Manager or any affiliated person of the Manager in connection with obtaining such payments. In the event that expenses of the Fund or any series of the Fund for any fiscal year should exceed the expense limitation on investment company expenses imposed by any statute or regulatory authority of any jurisdiction in which shares of the Fund or such series are qualified for offer or sale, the compensation due the Manager for such fiscal year shall be reduced by the amount of excess by a reduction or refund thereof. In the event that the expenses of the Fund or any series of the Fund exceed any expense limitation which the Manager may, by written notice to the Fund, voluntarily declare to be effective subject to such terms and conditions as the Manager may prescribe in such notice, the compensation due the Manager shall be reduced, and, if necessary, the Manager shall assume expenses of the Fund or such series to the extent required by the terms and conditions of such average net asset value;
(d) expense limitation. If the Manager shall serve for less than the whole of a quarter, the next $5 billion of such average net asset value;
(e) of the next $5 billion of such average net asset value;foregoing compensation shall be prorated.
Appears in 2 contracts
Samples: Management Contract (Putnam Investment Funds), Management Contract (Putnam Investment Funds)
COMPENSATION TO BE PAID BY THE FUND TO THE MANAGER. The Fund will pay to the Manager as compensation for the Manager's services rendered, for the facilities furnished and for the expenses borne by the Manager pursuant to paragraphs (a), (b), (c) and (e) of Section 1, a fee, computed and paid quarterly at the following annual rates for each series of the Fund (except for Xxxxxx Equity Fund 2000, Xxxxxx Financial Services Fund: Putnam , Xxxxxx International Core Fund, Xxxxxx Xxxxxxxxxxxxx Xxxx 0000, Xxxxxx Mid Cap Fund 2000 and Xxxxxx Technology Fund, which shall be computed and paid monthly): Xxxxxx International Growth axx Xxxome Fund and Putnam High Yield Total RxxxxxIncome Fund
(a) 0.80% of the first $500 million of the average net asset value of each series;
(b) 0.70% of the next $500 million of such average net asset value;
(c) 0.65% of the next $500 million of such average net asset value;
(d) 0.60% of the next $5 billion of such average net asset value;
(e) 0.575% of the next $5 billion of such average net asset value;
(f) 0.555% of the next $5 billion of such average net asset value;
(g) 0.54% of the next $5 billion of such average net asset value; and
(h) 0.53% of any excess thereafter. Putnam Xxxxxx Mid Cap Fund 2000
(a) 0.80% of the first $500 million of the average net asset value of each series;
(b) 0.70% of the next $500 million of such average net asset value;
(c) 0.65% of the next $500 million of such average net asset value;
(d) 0.60% of the next $5 billion of such average net asset value;
(e) 0.575% of the next $5 billion of such average net asset value;
(f) 0.555% of the next $5 billion of such average net asset value;
(g) 0.54% of the next $5 billion of such average net asset value;
(h) 0.53% of the next $5 billion of such average net asset value;
(i) 0.52% of the next $5 billion of such average net asset value;
(j) 0.51% of the next $5 billion of such average net asset value;
(k) 0.50% of the next $5 billion of such average net asset value;
(l) 0.49% of the next $5 billion of such average net asset value;
(m) 0.48% of the next $8.5 billion of such average net asset value; and
(n) 0.47% of any excess thereafter. Xxxxxx Asia Pacific Fund II, Xxxxxx Equity Fund 97:00, Xxxxxx Xxxxxx Fund 2000, Xxxxxx International Core Fund, Putnam International Fund 2000, Putnam Latin America Fund and Xxxxxx Technology Fund
(xa) 1.00% of the first $500 million of the average net asset value of each series;
(b) 0.90% of the next $500 million of such average net asset value;
(c) 0.85% of the next $500 million of such average net asset value;
(d) 0.80% of the next $5 billion of such average net asset value;
(e) 0.775% of the next $5 billion of such average net asset value;
(f) 0.755% of the next $5 billion of such average net asset value;
(g) 0.74% of the next $5 billion of such average net asset value; and
(h) 0.73% of any excess thereafter. Putnam Growth Fund, Xxxxxx High Yield Trust II, Putnam New Century Growth Fund and Putnam U.S. Core Fund
(a) 0.70% of the first $500 million of the average net asset valuevalue of each series;
(b) 0.60% of the next $500 million of such average net asset value;
(c) 0.55% of the next $500 million of such average net asset value;
(d) 0.50% of the next $5 billion of such average net asset value;
(e) 0.475% of the next $5 billion of such average net asset value;
(f) 0.455% of the next $5 billion of such average net asset value;
(g) 0.44% of the next $5 billion of such average net asset value; and
(h) 0.43% of any excess thereafter. Putnam High Yield Fund IIXxxxxx Financial Services Fund
(xa) 0.70% of the first $500 million of the average net asset value of each series;
(b) 0.60% of the next $500 million of such average net asset value;
(c) 0.55% of the next $500 million of such average net asset value;
(d) 0.50% of the next $5 billion of such average net asset value;
(e) 0.475% of the next $5 billion of such average net asset value;
(f) 0.455% of the next $5 billion of such average net asset value;
(g) 0.44% of the next $5 billion of such average net asset value;
(h) 0.43% of the next $5 billion of such average net asset value;
(i) 0.42% of the next $5 billion of such average net asset value;
(j) 0.41% of the next $5 billion of such average net asset value;
(k) 0.40% of the next $5 billion of such average net asset value;
(l) 0.39% of the next $5 billion of such average net asset value;
(m) 0.38% of the next $8.5 billion of such average net asset value; and
(n) 0.37% of any excess thereafter. Such average net asset value shall be determined by taking an average of all of the determinations of such net asset value during such quarter or month as the case may be, at the close of business on each business day during such quarter or month while this Contract is in effect. Such fee shall be payable for each fiscal quarter or month within 30 days after the close of such quarter or within 15 days after the close of such month (except for Xxxxxx Equity Fund 2000, which will be payable for each fiscal month within 30 days after the close of such month) and shall commence accruing as of the date of the initial issuance of shares of the Fund to the public. The fees payable by the Fund to the Manager pursuant to this Section 3 shall be reduced by any commissions, fees, brokerage or similar payments received by the Manager or any affiliated person of the Manager in connection with the purchase and sale of portfolio investments of the Fund, less any direct expenses approved by the Trustees incurred by the Manager or any affiliated person of the Manager in connection with obtaining such payments. In the event that expenses of the Fund or any series of the Fund for any fiscal year should exceed the expense limitation on investment company expenses imposed by any statute or regulatory authority of any jurisdiction in which shares of the Fund or such series are qualified for offer or sale, the compensation due the Manager for such fiscal year shall be reduced by the amount of excess by a reduction or refund thereof. In the event that the expenses of the Fund or any series of the Fund exceed any expense limitation which the Manager may, by written notice to the Fund, voluntarily declare to be effective subject to such terms and conditions as the Manager may prescribe in such notice, the compensation due the Manager shall be reduced, and, if necessary, the Manager shall assume expenses of the Fund or such series to the extent required by the terms and conditions of such expense limitation. If the Manager shall serve for less than the whole of a quarter or month, the foregoing compensation shall be prorated.
Appears in 2 contracts
Samples: Management Contract (Putnam Funds Trust), Management Contract (Putnam Funds Trust)
COMPENSATION TO BE PAID BY THE FUND TO THE MANAGER. The Fund will pay to the Manager as compensation for the Manager's services rendered, for the facilities furnished and for the expenses borne by the Manager pursuant to paragraphs (a), (b), (c) and (e) of Section 1, a fee, computed and paid quarterly at the following annual rates for each series of the Fund: Putnam International Growth axx Xxxome Fund and Putnam High Yield Total RxxxxxRxxxxx Fund
(a) 0.80% of the first $500 million of the average net asset value of each series;
(b) 0.70% of the next $500 million of such average net asset value;
(c) 0.65% of the next $500 million of such average net asset value;
(d) 0.60% of the next $5 billion of such average net asset value;
(e) 0.575% of the next $5 billion of such average net asset value;
(f) 0.555% of the next $5 billion of such average net asset value;
(g) 0.54% of the next $5 billion of such average net asset value; and
(h) 0.53% of any excess thereafter. Putnam Equity Fund 97:98, Putnam Xxxx Pacific Fund II axx Putnam Latin America Fund
(xa) 1.00% of the first $500 million of the average net asset value of each series;
(b) 0.90% of the next $500 million of such average net asset value;
(c) 0.85% of the next $500 million of such average net asset value;
(d) 0.80% of the next $5 billion of such average net asset value; (e) 0.775% of the next $5 billion of such average net asset value; (f) 0.755% of the next $5 billion of such average net asset value;
(g) 0.74% of the next $5 billion of such average net asset value; and
(h) 0.73% of any excess thereafter. Putnam High Yield Trust II, Pxxxxx Investment Fund 98, Xxxxam Growth Fund, Pxxxxx Xxxxx Xxxx, xxx Xxxxxx X.X. Core Fund
(a) 0.70% of the first $500 million of the average net asset valuevalue of each series;
(b) 0.60% of the next $500 million of such average net asset value;
(c) 0.55% of the next $500 million of such average net asset value;
(d) 0.50% of the next $5 billion of such average net asset value;
(e) 0.475% of the next $5 billion of such average net asset value;
(f) 0.455% of the next $5 billion of such average net asset value;
(g) 0.44% of the next $5 billion of such average net asset value; and
(h) 0.43% of any excess thereafter. Putnam High Yield Fund II
(x) of the first $500 million of the Such average net asset value shall be determined by taking an average of each series;
(b) all of the next $500 million determinations of such average net asset value;
(c) value during such quarter at the close of business on each business day during such quarter while this Contract is in effect. Such fee shall be payable for each fiscal quarter within 30 days after the close of such quarter and shall commence accruing as of the next $500 million date of the initial issuance of shares of the Fund to the public. The fees payable by the Fund to the Manager pursuant to this Section 3 shall be reduced by any commissions, fees, brokerage or similar payments received by the Manager or any affiliated person of the Manager in connection with the purchase and sale of portfolio investments of the Fund, less any direct expenses approved by the Trustees incurred by the Manager or any affiliated person of the Manager in connection with obtaining such payments. In the event that expenses of the Fund or any series of the Fund for any fiscal year should exceed the expense limitation on investment company expenses imposed by any statute or regulatory authority of any jurisdiction in which shares of the Fund or such series are qualified for offer or sale, the compensation due the Manager for such fiscal year shall be reduced by the amount of excess by a reduction or refund thereof. In the event that the expenses of the Fund or any series of the Fund exceed any expense limitation which the Manager may, by written notice to the Fund, voluntarily declare to be effective subject to such terms and conditions as the Manager may prescribe in such notice, the compensation due the Manager shall be reduced, and, if necessary, the Manager shall assume expenses of the Fund or such series to the extent required by the terms and conditions of such average net asset value;
(d) expense limitation. If the Manager shall serve for less than the whole of a quarter, the next $5 billion of such average net asset value;
(e) of the next $5 billion of such average net asset value;foregoing compensation shall be prorated.
Appears in 2 contracts
Samples: Management Contract (Putnam Funds Trust), Management Contract (Putnam Funds Trust)
COMPENSATION TO BE PAID BY THE FUND TO THE MANAGER. The Fund will pay to the Manager as compensation for the Manager's services rendered, for the facilities furnished and for the expenses borne by the Manager pursuant to paragraphs (a), (b), (c) and (e) of Section 1, a fee, computed and paid quarterly at the following annual rates for each series of the Fund: Putnam International Growth axx Xxxome Fund and Putnam High Yield Total RxxxxxXXXXXX INTERNATIONAL GROWTH AND INCOME FUND AND XXXXXX HIGH YIELD TOTAL RETURN FUND
(a) 0.80% of the first $500 million of the average net asset value of each series;
(b) 0.70% of the next $500 million of such average net asset value;
(c) 0.65% of the next $500 million of such average net asset value;
(d) 0.60% of the next $5 billion of such average net asset value;
(e) 0.575% of the next $5 billion of such average net asset value;
(f) 0.555% of the next $5 billion of such average net asset value;
(g) 0.54% of the next $5 billion of such average net asset value; and
(h) 0.53% of any excess thereafter. Putnam Equity Fund 97:XXXXXX EQUITY FUND 98, XXXXXX ASIA PACIFIC FUND II AND PUTNAM LATIN AMERICA FUND
(xa) 1.00% of the first $500 million of the average net asset value of each series;
(b) 0.90% of the next $500 million of such average net asset value;
(c) 0.85% of the next $500 million of such average net asset value;
(d) 0.80% of the next $5 billion of such average net asset value;
(e) 0.775% of the next $5 billion of such average net asset value;
(f) 0.755% of the next $5 billion of such average net asset value;
(g) 0.74% of the next $5 billion of such average net asset value; and
(h) 0.73% of any excess thereafter. XXXXXX HIGH YIELD TRUST II, XXXXXX INVESTMENT FUND 00, XXXXXX XXXXXX XXXX, XXXXXX VALUE FUND, AND PUTNAM U.S. CORE FUND
(a) 0.70% of the first $500 million of the average net asset valuevalue of each series;
(b) 0.60% of the next $500 million of such average net asset value;
(c) 0.55% of the next $500 million of such average net asset value;
(d) 0.50% of the next $5 billion of such average net asset value;
(e) 0.475% of the next $5 billion of such average net asset value;
(f) 0.455% of the next $5 billion of such average net asset value;
(g) 0.44% of the next $5 billion of such average net asset value; and
(h) 0.43% of any excess thereafter. Putnam High Yield Fund II
(x) of the first $500 million of the Such average net asset value shall be determined by taking an average of each series;
(b) all of the next $500 million determinations of such average net asset value;
(c) value during such quarter at the close of business on each business day during such quarter while this Contract is in effect. Such fee shall be payable for each fiscal quarter within 30 days after the close of such quarter and shall commence accruing as of the next $500 million date of the initial issuance of shares of the Fund to the public. The fees payable by the Fund to the Manager pursuant to this Section 3 shall be reduced by any commissions, fees, brokerage or similar payments received by the Manager or any affiliated person of the Manager in connection with the purchase and sale of portfolio investments of the Fund, less any direct expenses approved by the Trustees incurred by the Manager or any affiliated person of the Manager in connection with obtaining such payments. In the event that expenses of the Fund or any series of the Fund for any fiscal year should exceed the expense limitation on investment company expenses imposed by any statute or regulatory authority of any jurisdiction in which shares of the Fund or such series are qualified for offer or sale, the compensation due the Manager for such fiscal year shall be reduced by the amount of excess by a reduction or refund thereof. In the event that the expenses of the Fund or any series of the Fund exceed any expense limitation which the Manager may, by written notice to the Fund, voluntarily declare to be effective subject to such terms and conditions as the Manager may prescribe in such notice, the compensation due the Manager shall be reduced, and, if necessary, the Manager shall assume expenses of the Fund or such series to the extent required by the terms and conditions of such average net asset value;
(d) expense limitation. If the Manager shall serve for less than the whole of a quarter, the next $5 billion of such average net asset value;
(e) of the next $5 billion of such average net asset value;foregoing compensation shall be prorated.
Appears in 1 contract
COMPENSATION TO BE PAID BY THE FUND TO THE MANAGER. The Fund will pay to the Manager as compensation for the Manager's services rendered, for the facilities furnished and for the expenses borne by the Manager pursuant to paragraphs (a), (b), (c) and (e) of Section 1, a fee, computed and paid quarterly at the following annual rates for each series of the Fund: Putnam International Growth axx Xxxome Xxxxxx Balanced Fund and Putnam High Yield Total RxxxxxXxxxxx Research Fund:
(a) 0.800.65% of the first $500 million of the average net asset value of each the series;
(b) 0.700.55% of the next $500 million of such average net asset value;
(c) 0.650.50% of the next $500 million of such average net asset value;
(d) 0.600.45% of the next $5 billion of such average net asset value;
(e) 0.5750.425% of the next $5 billion of such average net asset value;
(f) 0.5550.405% of the next $5 billion of such average net asset value;
(g) 0.540.39% of the next $5 billion of such average net asset value; and
(h) 0.530.38% of any excess thereafter. Xxxxxx New Value Fund, Xxxxxx Growth Opportunities Fund and Putnam Equity U.S. Core Fund 97II:
(xa) 0.70% of the first $500 million of the average net asset valuevalue of the series;
(b) 0.60% of the next $500 million of such average net asset value;
(c) 0.55% of the next $500 million of such average net asset value;
(d) 0.50% of the next $5 billion of such average net asset value;
(e) 0.475% of the next $5 billion of such average net asset value;
(f) 0.455% of the next $5 billion of such average net asset value;
(g) 0.44% of the next $5 billion of such average net asset value; and
(h) 0.43% of any excess thereafter. Putnam High Yield Xxxxxx Global Equity Fund, Xxxxxx Global Growth and Income Fund, Xxxxxx International Fund IIand Xxxxxx Japan Fund:
(xa) 0.80% of the first $500 million of the average net asset value of each the series;
(b) 0.70% of the next $500 million of such average net asset value;
(c) 0.65% of the next $500 million of such average net asset value;
(d) 0.60% of the next $5 billion of such average net asset value;
(e) 0.575% of the next $5 billion of such average net asset value; (f) 0.555% of the next $5 billion of such average net asset value;
(g) 0.54% of the next $5 billion of such average net asset value; and
(h) 0.53% of any excess thereafter. Xxxxxx International New Opportunities Fund, Xxxxxx International Voyager Fund and Xxxxxx Emerging Markets Fund:
(a) 1.20% of the first $500 million of the average net asset value of the series;
(b) 1.10% of the next $500 million of such average net asset value;
(c) 1.05% of the next $500 million of such average net asset value;
(d) 1.00% of the next $5 billion of such average net asset value;
(e) 0.975% of the next $5 billion of such average net asset value;
(f) 0.955% of the next $5 billion of such average net asset value;
(g) 0.94% of the next $5 billion of such average net asset value; and
(h) 0.93% of any excess thereafter. Such average net asset value shall be determined by taking an average of all of the determinations of such net asset value during such quarter at the close of business on each business day during such quarter while this Contract is in effect. Such fee shall be payable for each fiscal quarter within 30 days after the close of such quarter and shall commence accruing as of the date of the initial issuance of shares of the Fund to the public. The fees payable by the Fund to the Manager pursuant to this Section 3 shall be reduced by any commissions, fees, brokerage or similar payments received by the Manager or any affiliated person of the Manager in connection with the purchase and sale of portfolio investments of the Fund, less any direct expenses approved by the Trustees incurred by the Manager or any affiliated person of the Manager in connection with obtaining such payments. In the event that expenses of the Fund or any series of the Fund for any fiscal year should exceed the expense limitation on investment company expenses imposed by any statute or regulatory authority of any jurisdiction in which shares of the Fund or such series are qualified for offer or sale, the compensation due the Manager for such fiscal year shall be reduced by the amount of excess by a reduction or refund thereof. In the event that the expenses of the Fund or any series of the Fund exceed any expense limitation which the Manager may, by written notice to the Fund, voluntarily declare to be effective subject to such terms and conditions as the Manager may prescribe in such notice, the compensation due the Manager shall be reduced, and, if necessary, the Manager shall assume expenses of the Fund or such series to the extent required by the terms and conditions of such expense limitation. If the Manager shall serve for less than the whole of a quarter, the foregoing compensation shall be prorated.
Appears in 1 contract
COMPENSATION TO BE PAID BY THE FUND TO THE MANAGER. The Fund will pay to the Manager as compensation for the Manager's services rendered, for the facilities furnished and for the expenses borne by the Manager pursuant to paragraphs (a), (b), (c) and (e) of Section 1, a fee, computed and paid quarterly (except for Pxxxxx VT Capital Appreciation Fund, Pxxxxx VT Capital Opportunities Fund, Pxxxxx VT Discovery Growth Fund, Pxxxxx VT Equity Income Fund and Pxxxxx VT Mid Cap Value Fund, which shall be computed and paid monthly) at the following annual rates for applicable to the average net asset value of each series Series of the Fund (a "Series") of: Pxxxxx VT International New Opportunities Fund: Putnam :
(a) 1.00% of the first $500 million of average net assets; (b) 0.90% of the next $500 million; (c) 0.85% of the next $500 million; (d) 0.80% of the next $5 billion; (e) 0.775% of the next $5 billion; (f) 0.755% of the next $5 billion; (g) 0.74% of the next $5 billion; and (h) 0.73% of any excess thereafter. Pxxxxx VT Global Equity Fund, Pxxxxx VT International Equity Fund, Pxxxxx VT International Growth axx Xxxome Fund and Putnam High Yield Total RxxxxxIncome Fund, and Pxxxxx VT Small Cap Value Fund:
(a) 0.80% of the first $500 million of the average net asset value of each series;
assets; (b) 0.70% of the next $500 million of such average net asset value;
million; (c) 0.65% of the next $500 million of such average net asset value;
million; (d) 0.60% of the next $5 billion of such average net asset value;
billion; (e) 0.575% of the next $5 billion of such average net asset value;
billion; (f) 0.555% of the next $5 billion of such average net asset value;
billion; (g) 0.54% of the next $5 billion of such average net asset valuebillion; and
and (h) 0.53% of any excess thereafter. Putnam Equity Fund 97Pxxxxx VT Discovery Growth Fund:
(xa) 0.70% of the first $500 million of the average net asset value;
assets; (b) 0.60% of the next $500 million of such average net asset value;
million; (c) 0.55% of the next $500 million of such average net asset value;
million; (d) 0.50% of the next $5 billion of such average net asset value;
billion; (e) 0.475% of the next $5 billion of such average net asset value;
billion; (f) 0.455% of the next $5 billion of such average net asset value;
billion; (g) 0.44% of the next $5 billion billion; (h) 0.43% of such the next $5 billion; (i) 0.42% of the next $5 billion; (j) 0.41% of the next $5 billion; (k) 0.40% of the next $5 billion; (l) 0.39% of the next $5 billion; (m) 0.38% of the next $8.5 billion; and (n) 0.37% of any excess thereafter. Pxxxxx VT Growth Opportunities Fund:
(a) 0.70% of the first $500 million of average net asset valueassets; and(b) 0.60% of the next $500 million; (c) 0.55% of the next $500 million; (d) 0.50% of the next $5 billion; (e) 0.475% of the next $5 billion; (f) 0.455% of the next $5 billion; (g) 0.44% of the next $5 billion; (h) 0.43% of the next $5 billion; and (i) 0.42% of any excess thereafter. Pxxxxx VT Diversified Income Fund, Pxxxxx VT Global Asset Allocation Fund, Pxxxxx VT Health Sciences Fund, Pxxxxx VT High Yield Fund, Pxxxxx VT Mid Cap Value Fund, Pxxxxx VT New Opportunities Fund, Pxxxxx VT New Value Fund, Pxxxxx VT OTC Emerging Growth Fund, Pxxxxx VT Utilities Growth and Income Fund and Pxxxxx VT Voyager Fund:
(a) 0.70% of the first $500 million of average net assets; (b) 0.60% of the next $500 million; (c) 0.55% of the next $500 million; (d) 0.50% of the next $5 billion; (e) 0.475% of the next $5 billion; (f) 0.455% of the next $5 billion; (g) 0.44% of the next $5 billion; and (h) 0.43% of any excess thereafter. Putnam High Yield Fund IIPxxxxx VT Capital Appreciation Fund
(xa) 0.65% of the first $500 million of average net assets; (b) 0.55% of the next $500 million; (c) 0.50% of the next $500 million; (d) 0.45% of the next $5 billion; (e) 0.425% of the next $5 billion; (f) 0.405% of the next $5 billion; (g) 0.39% of the next $5 billion; (h) 0.38% of the next $5 billion; (i) 0.37% of the next $5 billion; (j) 0.36% of the next $5 billion; (k) 0.35% of the next $5 billion; (l) 0.34% of the next $5 billion; (m) 0.33% of the next $8.5 billion; and (n) 0.32% of any excess thereafter. Pxxxxx VT American Government Income Fund:
(a) 0.65% of the first $500 million of average net assets; (b) 0.55% of the next $500 million; (c) 0.50% of the next $500 million; (d) 0.45% of the next $5 billion; (e) 0.425% of the next $5 billion; (f) 0.405% of the next $5 billion; (g) 0.39% of the next $5 billion; (h) 0.38% of the next $5 billion; (i) 0.37% of the next $5 billion; (j) 0.36% of the next $5 billion; (k) 0.35% of the next $5 billion; and (l) 0.34% of any excess thereafter. Pxxxxx VT Capital Opportunities Fund, Pxxxxx VT Equity Income Fund, Pxxxxx VT The Gxxxxx Xxxxxx Fund of Boston, Pxxxxx VT Growth and Income Fund, Pxxxxx VT Income Fund, Pxxxxx VT Investors Fund, Pxxxxx VT Research Fund and Pxxxxx VT Vista Fund:
(a) 0.65% of the first $500 million of average net assets; (b) 0.55% of the next $500 million; (c) 0.50% of the next $500 million; (d) 0.45% of the next $5 billion; (e) 0.425% of the next $5 billion; (f) 0.405% of the next $5 billion; (g) 0.39% of the next $5 billion; and (h) 0.38% of any excess thereafter. Pxxxxx VT Money Market Fund:
(a) 0.45% of the first $500 million of average net assets; (b) 0.35% of the next $500 million; (c) 0.30% of the next $500 million; (d) 0.25% of the next $5 billion; (e) 0.225% of the next $5 billion; (f) 0.205% of the next $5 billion; (g) 0.19% of the next $5 billion; and (h) 0.18% of any excess thereafter. Such fees computed with respect to the net asset value of each Series shall be paid from the assets of such Series. Such average net asset value of each series;
(b) Series of the next $500 million Fund shall be determined by taking an average of all of the determinations of such average net asset value;
(c) value during such quarter or month, as the case may be, at the close of business on each business day during such quarter or month while this Contract is in effect. Such fee shall be payable for each month within 30 days after the end of such quarter or month, as the case may be. The fees payable by the Fund to the Manager pursuant to this Section 3 with respect to any Series of the next $500 million Fund shall be reduced by any commissions, fees, brokerage or similar payments received by the Manager or any affiliated person of the Manager in connection with the purchase and sale of portfolio investments of such average net asset value;
(d) Series, less any direct expenses approved by the Trustees incurred by the Manager or any affiliated person of the next $5 billion Manager in connection with obtaining such payments. In the event that expenses of any Series of the Fund for any fiscal year should exceed the expense limitation on investment company expenses imposed by any statute or regulatory authority of any jurisdiction in which shares of that Series are qualified for offer or sale, the compensation due the Manager for such fiscal year shall be reduced by the amount of such average net asset value;
(e) excess by a reduction or refund thereof. In the event that the expenses of any Series of the next $5 billion Fund exceed any expense limitation which the Manager may, by written notice to the Fund, voluntarily declare to be effective subject to such terms and conditions as the Manager may prescribe in such notice, the compensation due the Manager shall be reduced, and, if necessary, the Manager shall assume expenses of the Series to the extent required by the terms and conditions of such average net asset value;expense limitation. If the Manager shall serve for less than the whole of a month, the foregoing compensation shall be prorated.
Appears in 1 contract
COMPENSATION TO BE PAID BY THE FUND TO THE MANAGER. The Fund will pay to the Manager as compensation for the Manager's services rendered, for the facilities furnished and for the expenses borne by the Manager pursuant to paragraphs (a), (b), (c) and (e) of Section 1, a fee, computed and paid quarterly at the following annual rates for each series of the Fund: Putnam Fund (except for Xxxxxx Xxxxxxxxxxxxx Xxxx 0000, Xxxxxx Technology Fund and Xxxxxx Equity Fund 2000, which shall be computed and paid monthly): Xxxxxx International Growth axx Xxxome Fund and Putnam High Yield Total RxxxxxIncome Fund
(a) 0.80% of the first $500 million of the average net asset value of each series;
(b) 0.70% of the next $500 million of such average net asset value;
(c) 0.65% of the next $500 million of such average net asset value;
(d) 0.60% of the next $5 billion of such average net asset value;
(e) 0.575% of the next $5 billion of such average net asset value;
(f) 0.555% of the next $5 billion of such average net asset value;
(g) 0.54% of the next $5 billion of such average net asset value; and
(h) 0.53% of any excess thereafter. Putnam Xxxxxx Equity Fund 97:00, Xxxxxx Xxxx Pacific Fund II, Putnam Latin America Fund, Putnam International Fund 2000, Xxxxxx Technology Fund and Xxxxxx Equity Fund 2000
(xa) 1.00% of the first $500 million of the average net asset value of each series;
(b) 0.90% of the next $500 million of such average net asset value;
(c) 0.85% of the next $500 million of such average net asset value;
(d) 0.80% of the next $5 billion of such average net asset value;
(e) 0.775% of the next $5 billion of such average net asset value;
(f) 0.755% of the next $5 billion of such average net asset value;
(g) 0.74% of the next $5 billion of such average net asset value; and
(h) 0.73% of any excess thereafter. Xxxxxx High Yield Trust II, Putnam New Century Growth Fund, Putnam Growth Fund, Putnam Value Fund, and Putnam U.S. Core Fund
(a) 0.70% of the first $500 million of the average net asset valuevalue of each series;
(b) 0.60% of the next $500 million of such average net asset value;
(c) 0.55% of the next $500 million of such average net asset value;
(d) 0.50% of the next $5 billion of such average net asset value;
(e) 0.475% of the next $5 billion of such average net asset value;
(f) 0.455% of the next $5 billion of such average net asset value;
(g) 0.44% of the next $5 billion of such average net asset value; and
(h) 0.43% of any excess thereafter. Putnam High Yield Fund II
(x) of the first $500 million of the Such average net asset value shall be determined by taking an average of each series;
(b) all of the next $500 million determinations of such average net asset value;
(c) value during such quarter or month as the case may be, at the close of business on each business day during such quarter or month while this Contract is in effect. Such fee shall be payable for each fiscal quarter or month within 30 days after the close of such quarter or month and shall commence accruing as of the next $500 million date of the initial issuance of shares of the Fund to the public. The fees payable by the Fund to the Manager pursuant to this Section 3 shall be reduced by any commissions, fees, brokerage or similar payments received by the Manager or any affiliated person of the Manager in connection with the purchase and sale of portfolio investments of the Fund, less any direct expenses approved by the Trustees incurred by the Manager or any affiliated person of the Manager in connection with obtaining such payments. In the event that expenses of the Fund or any series of the Fund for any fiscal year should exceed the expense limitation on investment company expenses imposed by any statute or regulatory authority of any jurisdiction in which shares of the Fund or such series are qualified for offer or sale, the compensation due the Manager for such fiscal year shall be reduced by the amount of excess by a reduction or refund thereof. In the event that the expenses of the Fund or any series of the Fund exceed any expense limitation which the Manager may, by written notice to the Fund, voluntarily declare to be effective subject to such terms and conditions as the Manager may prescribe in such notice, the compensation due the Manager shall be reduced, and, if necessary, the Manager shall assume expenses of the Fund or such series to the extent required by the terms and conditions of such average net asset value;
(d) expense limitation. If the Manager shall serve for less than the whole of a quarter or month, the next $5 billion of such average net asset value;
(e) of the next $5 billion of such average net asset value;foregoing compensation shall be prorated.
Appears in 1 contract
COMPENSATION TO BE PAID BY THE FUND TO THE MANAGER. The Fund Trust, on behalf of each Fund, will pay to the Manager as compensation for the Manager's services rendered, for the facilities furnished and for the expenses borne by the Manager pursuant to paragraphs (a), (b), (c) and (e) of Section 1, a fee, computed and paid quarterly at the following annual rates for each series of the Fund: Putnam International Growth axx Xxxome Fund and Putnam High Yield Total Rxxxxx:
(a) 0.800.65% of the first $500 million of the average net asset value of each seriesthe Fund;
(b) 0.700.55% of the next $500 million of such average net asset value;
(c) 0.650.50% of the next $500 million of such average net asset value;
(d) 0.600.45% of the next $5 billion of such average net asset value;
(e) 0.5750.425% of the next $5 billion of such average net asset value;
(f) 0.5550.405% of the next $5 billion of such average net asset value;
(g) 0.540.39% of the next $5 billion of such average net asset value; and
(h) 0.530.38% of any excess thereafter. Putnam Equity Fund 97:.
(xa) 0.70% of the first $500 million of the average net asset valuevalue of the Fund;
(b) 0.60% of the next $500 million of such average net asset value;
(c) 0.55% of the next $500 million of such average net asset value;
(d) 0.50% of the next $5 billion of such average net asset value;
(e) 0.475% of the next $5 billion of such average net asset value;
(f) 0.455% of the next $5 billion of such average net asset value;
(g) 0.44% of the next $5 billion of such average net asset value; and
(h) 0.43% of any excess thereafter. Putnam High Yield Fund II
(x) of the first $500 million of the average net asset value of each series;
(b) of the next $500 million of such average net asset value;
(c) of the next $500 million of such average net asset value;
(d) of the next $5 billion of such average net asset value;
(e) of the next $5 billion of such average net asset value;.
Appears in 1 contract
COMPENSATION TO BE PAID BY THE FUND TO THE MANAGER. The Fund will pay to the Manager as compensation for the Manager's services rendered, for the facilities furnished and for the expenses borne by the Manager pursuant to paragraphs (a), (b), (c) and (e) of Section 1, a fee, computed and paid quarterly at the following annual rates for each series of the Fund: Putnam International Growth axx Xxxome Fund and Putnam High Yield Total RxxxxxReturx
(a) 0.80% of the first $500 million of the average net asset value of each series;
(b) 0.70% of the next $500 million of such average net asset value;
(c) 0.65% of the next $500 million of such average net asset value;
(d) 0.60% of the next $5 billion of such average net asset value;
(e) 0.575% of the next $5 billion of such average net asset value;
(f) 0.555% of the next $5 billion of such average net asset value;
(g) 0.54% of the next $5 billion of such average net asset value; and
(h) 0.53% of any excess thereafter. Putnam Equity Fund 97:
(x) 0.70% of the first $500 million of the average net asset value;
(b) 0.60% of the next $500 million of such average net asset value;
(c) 0.55% of the next $500 million of such average net asset value;
(d) 0.50% of the next $5 billion of such average net asset value;
(e) 0.475% of the next $5 billion of such average net asset value;
(f) 0.455% of the next $5 billion of such average net asset value;
(g) 0.44% of the next $5 billion of such average net asset value; and
(h) 0.43% of any excess thereafter. [Fee schedule to be determined] Putnam High Yield Fund II
(x) of the first $500 million of the average net asset value of each series;
(b) of the next $500 million of such average net asset value;
(c) of the next $500 million of such average net asset value;
(d) of the next $5 billion of such average net asset value;
(e) of the next $5 billion of such average net asset value;
Appears in 1 contract
COMPENSATION TO BE PAID BY THE FUND TO THE MANAGER. The Fund will pay to the Manager as compensation for the Manager's services rendered, for the facilities furnished and for the expenses borne by the Manager pursuant to paragraphs (a), (b), (c) and (e) of Section 1, a fee, computed and paid quarterly at the following annual rates for each series of the Fund (except for Xxxxxx Equity Fund 2000, Xxxxxx International Core Fund: Putnam , Xxxxxx International Fund 2000 and Xxxxxx Technology Fund, which shall be computed and paid monthly): Xxxxxx International Growth axx Xxxome Fund and Putnam High Yield Total RxxxxxIncome Fund
(a) 0.80% of the first $500 million of the average net asset value of each series;
(b) 0.70% of the next $500 million of such average net asset value;
(c) 0.65% of the next $500 million of such average net asset value;
(d) 0.60% of the next $5 billion of such average net asset value;
(e) 0.575% of the next $5 billion of such average net asset value;
(f) 0.555% of the next $5 billion of such average net asset value;
(g) 0.54% of the next $5 billion of such average net asset value; and
(h) 0.53% of any excess thereafter. Putnam Xxxxxx Asia Pacific Fund II, Xxxxxx Equity Fund 97:00, Xxxxxx Xxxxxx Fund 2000, Xxxxxx International Core Fund, Putnam International Fund 2000, Putnam Latin America Fund and Xxxxxx Technology Fund
(xa) 1.00% of the first $500 million of the average net asset value of each series;
(b) 0.90% of the next $500 million of such average net asset value;
(c) 0.85% of the next $500 million of such average net asset value;
(d) 0.80% of the next $5 billion of such average net asset value;
(e) 0.775% of the next $5 billion of such average net asset value;
(f) 0.755% of the next $5 billion of such average net asset value;
(g) 0.74% of the next $5 billion of such average net asset value; and
(h) 0.73% of any excess thereafter. Putnam Growth Fund, Xxxxxx High Yield Trust II, Putnam New Century Growth Fund and Putnam U.S. Core Fund
(a) 0.70% of the first $500 million of the average net asset valuevalue of each series;
(b) 0.60% of the next $500 million of such average net asset value;
(c) 0.55% of the next $500 million of such average net asset value;
(d) 0.50% of the next $5 billion of such average net asset value;
(e) 0.475% of the next $5 billion of such average net asset value;
(f) 0.455% of the next $5 billion of such average net asset value;
(g) 0.44% of the next $5 billion of such average net asset value; and
(h) 0.43% of any excess thereafter. Putnam High Yield Fund II
(x) of the first $500 million of the Such average net asset value shall be determined by taking an average of each series;
(b) all of the next $500 million determinations of such average net asset value;
value during such quarter or month as the case may be, at the close of business on each business day during such quarter or month while this Contract is in effect. Such fee shall be payable for each fiscal quarter or month within 30 days after the close of such quarter or within 15 days after the close of such month (cexcept for Xxxxxx Equity Fund 2000, which will be payable for each fiscal month within 30 days after the close of such month) and shall commence accruing as of the next $500 million date of the initial issuance of shares of the Fund to the public. The fees payable by the Fund to the Manager pursuant to this Section 3 shall be reduced by any commissions, fees, brokerage or similar payments received by the Manager or any affiliated person of the Manager in connection with the purchase and sale of portfolio investments of the Fund, less any direct expenses approved by the Trustees incurred by the Manager or any affiliated person of the Manager in connection with obtaining such payments. In the event that expenses of the Fund or any series of the Fund for any fiscal year should exceed the expense limitation on investment company expenses imposed by any statute or regulatory authority of any jurisdiction in which shares of the Fund or such series are qualified for offer or sale, the compensation due the Manager for such fiscal year shall be reduced by the amount of excess by a reduction or refund thereof. In the event that the expenses of the Fund or any series of the Fund exceed any expense limitation which the Manager may, by written notice to the Fund, voluntarily declare to be effective subject to such terms and conditions as the Manager may prescribe in such notice, the compensation due the Manager shall be reduced, and, if necessary, the Manager shall assume expenses of the Fund or such series to the extent required by the terms and conditions of such average net asset value;
(d) expense limitation. If the Manager shall serve for less than the whole of a quarter or month, the next $5 billion of such average net asset value;
(e) of the next $5 billion of such average net asset value;foregoing compensation shall be prorated.
Appears in 1 contract
COMPENSATION TO BE PAID BY THE FUND TO THE MANAGER. The Fund will pay to the Manager as compensation for the Manager's services rendered, for the facilities furnished and for the expenses borne by the Manager pursuant to paragraphs (a), (b), (c) and (e) of Section 1, a fee, computed and paid quarterly at the following annual rates for each series of the Fund (except for Xxxxxx International Fund 2000 and Xxxxxx Technology Fund: Putnam , which shall be computed and paid monthly): Xxxxxx International Growth axx Xxxome Fund and Putnam High Yield Total RxxxxxIncome Fund
(a) 0.80% of the first $500 million of the average net asset value of each series;
(b) 0.70% of the next $500 million of such average net asset value;
(c) 0.65% of the next $500 million of such average net asset value;
(d) 0.60% of the next $5 billion of such average net asset value;
(e) 0.575% of the next $5 billion of such average net asset value;
(f) 0.555% of the next $5 billion of such average net asset value;
(g) 0.54% of the next $5 billion of such average net asset value; and
(h) 0.53% of any excess thereafter. Putnam Xxxxxx Equity Fund 97:00, Xxxxxx Xxxx Pacific Fund II, Putnam Latin America Fund, Putnam International Fund 2000 and Xxxxxx Technology Fund
(xa) 1.00% of the first $500 million of the average net asset value of each series;
(b) 0.90% of the next $500 million of such average net asset value;
(c) 0.85% of the next $500 million of such average net asset value;
(d) 0.80% of the next $5 billion of such average net asset value;
(e) 0.775% of the next $5 billion of such average net asset value;
(f) 0.755% of the next $5 billion of such average net asset value;
(g) 0.74% of the next $5 billion of such average net asset value; and
(h) 0.73% of any excess thereafter. Xxxxxx High Yield Trust II, Putnam New Century Growth Fund, Putnam Growth Fund, Putnam Value Fund, and Putnam U.S. Core Fund
(a) 0.70% of the first $500 million of the average net asset valuevalue of each series;
(b) 0.60% of the next $500 million of such average net asset value;
(c) 0.55% of the next $500 million of such average net asset value;
(d) 0.50% of the next $5 billion of such average net asset value;
(e) 0.475% of the next $5 billion of such average net asset value;
(f) 0.455% of the next $5 billion of such average net asset value;
(g) 0.44% of the next $5 billion of such average net asset value; and
(h) 0.43% of any excess thereafter. Putnam High Yield Fund II
(x) of the first $500 million of the Such average net asset value shall be determined by taking an average of each series;
(b) all of the next $500 million determinations of such average net asset value;
(c) value during such quarter or month as the case may be, at the close of business on each business day during such quarter or month while this Contract is in effect. Such fee shall be payable for each fiscal quarter or month within 30 days after the close of such quarter or month and shall commence accruing as of the next $500 million date of the initial issuance of shares of the Fund to the public. The fees payable by the Fund to the Manager pursuant to this Section 3 shall be reduced by any commissions, fees, brokerage or similar payments received by the Manager or any affiliated person of the Manager in connection with the purchase and sale of portfolio investments of the Fund, less any direct expenses approved by the Trustees incurred by the Manager or any affiliated person of the Manager in connection with obtaining such payments. In the event that expenses of the Fund or any series of the Fund for any fiscal year should exceed the expense limitation on investment company expenses imposed by any statute or regulatory authority of any jurisdiction in which shares of the Fund or such series are qualified for offer or sale, the compensation due the Manager for such fiscal year shall be reduced by the amount of excess by a reduction or refund thereof. In the event that the expenses of the Fund or any series of the Fund exceed any expense limitation which the Manager may, by written notice to the Fund, voluntarily declare to be effective subject to such terms and conditions as the Manager may prescribe in such notice, the compensation due the Manager shall be reduced, and, if necessary, the Manager shall assume expenses of the Fund or such series to the extent required by the terms and conditions of such average net asset value;
(d) expense limitation. If the Manager shall serve for less than the whole of a quarter or month, the next $5 billion of such average net asset value;
(e) of the next $5 billion of such average net asset value;foregoing compensation shall be prorated.
Appears in 1 contract
COMPENSATION TO BE PAID BY THE FUND TO THE MANAGER. The Fund will pay to the Manager as compensation for the Manager's services rendered, for the facilities furnished and for the expenses borne by the Manager pursuant to paragraphs (a), (b), (c) and (e) of Section 1, a fee, computed and paid quarterly at the following annual rates for each series of the Fund: Putnam International Xxxxxx Balanced Fund and Xxxxxx Research Fund:
(a) 0.65% of the first $500 million of the average net asset value of the series;
(b) 0.55% of the next $500 million of such average net asset value;
(c) 0.50% of the next $500 million of such average net asset value;
(d) 0.45% of the next $5 billion of such average net asset value;
(e) 0.425% of the next $5 billion of such average net asset value;
(f) 0.405% of the next $5 billion of such average net asset value;
(g) 0.39% of the next $5 billion of such average net asset value; and
(h) 0.38% of any excess thereafter. Xxxxxx New Value Fund, Xxxxxx Growth axx Xxxome Opportunities Fund and Putnam High Yield Total RxxxxxU.S. Core Fund II:
(a) 0.70% of the first $500 million of the average net asset value of the series;
(b) 0.60% of the next $500 million of such average net asset value;
(c) 0.55% of the next $500 million of such average net asset value;
(d) 0.50% of the next $5 billion of such average net asset value;
(e) 0.475% of the next $5 billion of such average net asset value;
(f) 0.455% of the next $5 billion of such average net asset value;
(g) 0.44% of the next $5 billion of such average net asset value; and
(h) 0.43% of any excess thereafter. Xxxxxx Global Growth and Income Fund, Xxxxxx International Fund and Xxxxxx Japan Fund:
(a) 0.80% of the first $500 million of the average net asset value of each the series;
(b) 0.70% of the next $500 million of such average net asset value;
(c) 0.65% of the next $500 million of such average net asset value;
(d) 0.60% of the next $5 billion of such average net asset value;
(e) 0.575% of the next $5 billion of such average net asset value;
(f) 0.555% of the next $5 billion of such average net asset value;
(g) 0.54% of the next $5 billion of such average net asset value; and
(h) 0.53% of any excess thereafter. Putnam Equity Xxxxxx International New Opportunities Fund, Xxxxxx International Voyager Fund 97and Xxxxxx Emerging Markets Fund:
(xa) 0.701.20% of the first $500 million of the average net asset valuevalue of the series;
(b) 0.601.10% of the next $500 million of such average net asset value;
(c) 0.551.05% of the next $500 million of such average net asset value;
(d) 0.501.00% of the next $5 billion of such average net asset value;
(e) 0.4750.975% of the next $5 billion of such average net asset value;
(f) 0.4550.955% of the next $5 billion of such average net asset value;
(g) 0.440.94% of the next $5 billion of such average net asset value; and
(h) 0.430.93% of any excess thereafter. Putnam High Yield Fund IIXxxxxx Global Equity Fund
(xa) 1.00% of the first $500 million of the average net asset value of each the series;
(b) 0.90% of the next $500 million of such average net asset value;
(c) 0.85% of the next $500 million of such average net asset value;
(d) 0.80% of the next $5 billion of such average net asset value; (e) 0.775% of the next $5 billion of such average net asset value; (f) 0.755% of the next $5 billion of such average net asset value;
(eg) 0.74% of the next $5 billion of such average net asset value;; and
(h) 0.73% of any excess thereafter. Such average net asset value shall be determined by taking an average of all of the determinations of such net asset value during such quarter at the close of business on each business day during such quarter while this Contract is in effect. Such fee shall be payable for each fiscal quarter within 30 days after the close of such quarter and shall commence accruing as of the date of the initial issuance of shares of the Fund to the public. The fees payable by the Fund to the Manager pursuant to this Section 3 shall be reduced by any commissions, fees, brokerage or similar payments received by the Manager or any affiliated person of the Manager in connection with the purchase and sale of portfolio investments of the Fund, less any direct expenses approved by the Trustees incurred by the Manager or any affiliated person of the Manager in connection with obtaining such payments. In the event that expenses of the Fund or any series of the Fund for any fiscal year should exceed the expense limitation on investment company expenses imposed by any statute or regulatory authority of any jurisdiction in which shares of the Fund or such series are qualified for offer or sale, the compensation due the Manager for such fiscal year shall be reduced by the amount of excess by a reduction or refund thereof. In the event that the expenses of the Fund or any series of the Fund exceed any expense limitation which the Manager may, by written notice to the Fund, voluntarily declare to be effective subject to such terms and conditions as the Manager may prescribe in such notice, the compensation due the Manager shall be reduced, and, if necessary, the Manager shall assume expenses of the Fund or such series to the extent required by the terms and conditions of such expense limitation. If the Manager shall serve for less than the whole of a quarter, the foregoing compensation shall be prorated.
Appears in 1 contract
COMPENSATION TO BE PAID BY THE FUND TO THE MANAGER. The Fund will pay to the Manager as compensation for the Manager's services rendered, for the facilities furnished and for the expenses borne by the Manager pursuant to paragraphs (a), (b), (c) and (e) of Section 1, a fee, computed and paid quarterly at the following annual rates for each series of the Fund: Putnam International Growth axx Xxxome Fund and Putnam High Yield Total Rxxxxx
(a) 0.80% of the first $500 million of the average net asset value of each series;
(b) 0.70% of the next $500 million of such average net asset value;
(c) 0.65% of the next $500 million of such average net asset value;
(d) 0.60% of the next $5 billion of such average net asset value;
(e) 0.575% of the next $5 billion of such average net asset value;
(f) 0.555% of the next $5 billion of such average net asset value;
(g) 0.54% of the next $5 billion of such average net asset value; and
(h) 0.53% of any excess thereafter. Putnam Equity Fund 97:
(x) 0.70% of the first $500 million of the average net asset value;
(b) 0.60% of the next $500 million of such average net asset value;
(c) 0.55% of the next $500 million of such average net asset value;
(d) 0.50% of the next $5 billion of such average net asset value;
(e) 0.475% of the next $5 billion of such average net asset value;
(f) 0.455% of the next $5 billion of such average net asset value;
(g) 0.44% of the next $5 billion of such average net asset value; and
(h) 0.43% of any excess thereafter. Putnam High Yield Fund Trust II
(x) 70% of the first $500 million of the average net asset value of each series;
(b) 60% of the next $500 million of such average net asset value;
(c) 55% of the next $500 million of such average net asset value;
(d) 50% of the next $5 billion of such average net asset value;
(e) 475% of the next $5 billion of such average net asset value;
(f) 455% of the next $5 billion of such average net asset value;
(d) 44% of the next $5 billion of such average net asset value; and
Appears in 1 contract
COMPENSATION TO BE PAID BY THE FUND TO THE MANAGER. The Fund will pay to the Manager as compensation for the Manager's services rendered, for the facilities furnished and for the expenses borne by the Manager pursuant to paragraphs (a), (b), (c) and (e) of Section 1, a fee, computed and paid quarterly at the following annual rates for each series of the Fund: Putnam International Growth axx Xxxome Fund and Putnam High Yield Total Rxxxxx
(a) 0.80% of the first $500 million of the average net asset value of each series;
(b) 0.70% of the next $500 million of such average net asset value;
(c) 0.65% of the next $500 million of such average net asset value;
(d) 0.60% of the next $5 billion of such average net asset value;
(e) 0.575% of the next $5 billion of such average net asset value;
(f) 0.555% of the next $5 billion of such average net asset value;
(g) 0.54% of the next $5 billion of such average net asset value; and
(h) 0.53% of any excess thereafter. Putnam Equity Fund 97:
(x) 0.70% of the first $500 million of the average net asset value;
(b) 0.60% of the next $500 million of such average net asset value;
(c) 0.55% of the next $500 million of such average net asset value;
(d) 0.50% of the next $5 billion of such average net asset value;
(e) 0.475% of the next $5 billion of such average net asset value;
(f) 0.455% of the next $5 billion of such average net asset value;
(g) 0.44% of the next $5 billion of such average net asset value; and
(h) 0.43% of any excess thereafter. Putnam High Yield Fund II
(x) 0.70% of the first $500 million of the average net asset value;
(b) 0.60% of the next $500 million of such average net asset value;
(c) 0.55% of the next $500 million of such average net asset value;
(d) 0.50% of the next $5 billion of such average net asset value;
(e) 0.475% of the next $5 billion of such average net asset value;
(f) 0.455% of the next $5 billion of such average net asset value;
(g) 0.44% of the next $5 billion of such average net asset value; and
(h) 0.43% of any excess thereafter. Putnam Equity Fund 98
(a) 0.00% of the first $500 million of the average net asset value of each series;
(b) 0.90% of the next $500 million of such average net asset value;
(c) 0.85% of the next $500 million of such average net asset value;
(d) 0.80% of the next $5 billion of such average net asset value;
(e) 0.775% of the next $5 billion of such average net asset value;
(f) 0.755% of the next $5 billion of such average net asset value;
(g) 0.74% of the next $5 billion of such average net asset value; and
(h) 0.73% of any excess thereafter. Such average net asset value shall be determined by taking an average of all of the determinations of such net asset value during such quarter at the close of business on each business day during such quarter while this Contract is in effect. Such fee shall be payable for each fiscal quarter within 30 days after the close of such quarter and shall commence accruing as of the date of the initial issuance of shares of the Fund to the public. The fees payable by the Fund to the Manager pursuant to this Section 3 shall be reduced by any commissions, fees, brokerage or similar payments received by the Manager or any affiliated person of the Manager in connection with the purchase and sale of portfolio investments of the Fund, less any direct expenses approved by the Trustees incurred by the Manager or any affiliated person of the Manager in connection with obtaining such payments. In the event that expenses of the Fund or any series of the Fund for any fiscal year should exceed the expense limitation on investment company expenses imposed by any statute or regulatory authority of any jurisdiction in which shares of the Fund or such series are qualified for offer or sale, the compensation due the Manager for such fiscal year shall be reduced by the amount of excess by a reduction or refund thereof. In the event that the expenses of the Fund or any series of the Fund exceed any expense limitation which the Manager may, by written notice to the Fund, voluntarily declare to be effective subject to such terms and conditions as the Manager may prescribe in such notice, the compensation due the Manager shall be reduced, and, if necessary, the Manager shall assume expenses of the Fund or such series to the extent required by the terms and conditions of such expense limitation. If the Manager shall serve for less than the whole of a quarter, the foregoing compensation shall be prorated.
Appears in 1 contract
COMPENSATION TO BE PAID BY THE FUND TO THE MANAGER. The Fund will pay to the Manager as compensation for the Manager's services rendered, for the facilities furnished and for the expenses borne by the Manager pursuant to paragraphs (a), (b), (c) and (e) of Section 1, a fee, computed and paid quarterly at the following annual rates for each series of the Fund: Putnam International Growth axx Xxxome Fund and Putnam High Yield Total RxxxxxXXXXXX BALANCED FUND, XXXXXX RESEARCH FUND AND XXXXXX RESEARCHCAPITAL OPPORTUNITIES FUND:
(a) 0.65% of the first $500 million of the average net asset value of the series;
(b) 0.55% of the next $500 million of such average net asset value;
(c) 0.50% of the next $500 million of such average net asset value;
(d) 0.45% of the next $5 billion of such average net asset value;
(e) 0.425% of the next $5 billion of such average net asset value;
(f) 0.405% of the next $5 billion of such average net asset value;
(g) 0.39% of the next $5 billion of such average net asset value; and
(h) 0.38% of any excess thereafter. XXXXXX NEW VALUE FUND,FUND AND XXXXXX GROWTH OPPORTUNITIES FUND AND XXXXXX U.S. CORE FUND II:
(a) 0.70% of the first $500 million of the average net asset value of the series;
(b) 0.60% of the next $500 million of such average net asset value;
(c) 0.55% of the next $500 million of such average net asset value;
(d) 0.50% of the next $5 billion of such average net asset value;
(e) 0.475% of the next $5 billion of such average net asset value;
(f) 0.455% of the next $5 billion of such average net asset value;
(g) 0.44% of the next $5 billion of such average net asset value; and
(h) 0.43% of any excess thereafter. XXXXXX GLOBAL EQUITY FUND, XXXXXX GLOBAL GROWTH AND INCOME FUND, XXXXXX INTERNATIONAL FUND AND XXXXXX JAPAN FUND:
(a) 0.80% of the first $500 million of the average net asset value of each the series;
(b) 0.70% of the next $500 million of such average net asset value;
(c) 0.65% of the next $500 million of such average net asset value;
(d) 0.60% of the next $5 billion of such average net asset value;
(e) 0.575% of the next $5 billion of such average net asset value;
(f) 0.555% of the next $5 billion of such average net asset value;
(g) 0.54% of the next $5 billion of such average net asset value; and
(h) 0.53% of any excess thereafter. Putnam Equity Fund 97XXXXXX INTERNATIONAL NEW OPPORTUNITIES FUND, XXXXXX INTERNATIONAL VOYAGER FUND AND XXXXXX EMERGING MARKETS FUND:
(xa) 0.701.20% of the first $500 million of the average net asset valuevalue of the series;
(b) 0.601.10% of the next $500 million of such average net asset value;
(c) 0.551.05% of the next $500 million of such average net asset value;
(d) 0.501.00% of the next $5 billion of such average net asset value;
(e) 0.4750.975% of the next $5 billion of such average net asset value;
(f) 0.4550.955% of the next $5 billion of such average net asset value;
(g) 0.440.94% of the next $5 billion of such average net asset value; and
(h) 0.430.93% of any excess thereafter. Putnam High Yield Fund II
(x) of the first $500 million of the Such average net asset value shall be determined by taking an average of each series;
(b) all of the next $500 million determinations of such average net asset value;
(c) value during such quarter at the close of business on each business day during such quarter while this Contract is in effect. Such fee shall be payable for each fiscal quarter within 30 days after the close of such quarter and shall commence accruing as of the next $500 million date of the initial issuance of shares of the Fund to the public. The fees payable by the Fund to the Manager pursuant to this Section 3 shall be reduced by any commissions, fees, brokerage or similar payments received by the Manager or any affiliated person of the Manager in connection with the purchase and sale of portfolio investments of the Fund, less any direct expenses approved by the Trustees incurred by the Manager or any affiliated person of the Manager in connection with obtaining such payments. In the event that expenses of the Fund or any series of the Fund for any fiscal year should exceed the expense limitation on investment company expenses imposed by any statute or regulatory authority of any jurisdiction in which shares of the Fund or such series are qualified for offer or sale, the compensation due the Manager for such fiscal year shall be reduced by the amount of excess by a reduction or refund thereof. In the event that the expenses of the Fund or any series of the Fund exceed any expense limitation which the Manager may, by written notice to the Fund, voluntarily declare to be effective subject to such terms and conditions as the Manager may prescribe in such notice, the compensation due the Manager shall be reduced, and, if necessary, the Manager shall assume expenses of the Fund or such series to the extent required by the terms and conditions of such average net asset value;
(d) expense limitation. If the Manager shall serve for less than the whole of a quarter, the next $5 billion of such average net asset value;
(e) of the next $5 billion of such average net asset value;foregoing compensation shall be prorated.
Appears in 1 contract
COMPENSATION TO BE PAID BY THE FUND TO THE MANAGER. The Fund will pay to the Manager as compensation for the Manager's services rendered, for the facilities furnished and for the expenses borne by the Manager pursuant to paragraphs (a), (b), (c) and (e) of Section 1, a fee, computed and paid quarterly at the following annual rates for each series of the Fund (except for Xxxxxx Equity Fund 2000, Xxxxxx Financial Services Fund: Putnam , Xxxxxx International Core Fund, Xxxxxx Xxxxxxxxxxxxx Xxxx 0000, Xxxxxx Mid Cap Fund 2000 and Xxxxxx Technology Fund, which shall be computed and paid monthly): Xxxxxx International Growth axx Xxxome Fund and Putnam High Yield Total RxxxxxIncome Fund
(a) 0.80% of the first $500 million of the average net asset value of each series;
; (b) 0.70% of the next $500 million of such average net asset value;
; (c) 0.65% of the next $500 million of such average net asset value;
; (d) 0.60% of the next $5 billion of such average net asset value;
; (e) 0.575% of the next $5 billion of such average net asset value;
; (f) 0.555% of the next $5 billion of such average net asset value;
; (g) 0.54% of the next $5 billion of such average net asset value; and
and (h) 0.53% of any excess thereafter. Putnam Xxxxxx Mid Cap Fund 2000
(a) 0.80% of the first $500 million of the average net asset value of each series; (b) 0.70% of the next $500 million of such average net asset value; (c) 0.65% of the next $500 million of such average net asset value; (d) 0.60% of the next $5 billion of such average net asset value; (e) 0.575% of the next $5 billion of such average net asset value; (f) 0.555% of the next $5 billion of such average net asset value; (g) 0.54% of the next $5 billion of such average net asset value; (h) 0.53% of the next $5 billion of such average net asset value; (i) 0.52% of the next $5 billion of such average net asset value; (j) 0.51% of the next $5 billion of such average net asset value; (k) 0.50% of the next $5 billion of such average net asset value; (l) 0.49% of the next $5 billion of such average net asset value; (m) 0.48% of the next $8.5 billion of such average net asset value; and (n) 0.47% of any excess thereafter. Xxxxxx Asia Pacific Fund II, Xxxxxx Equity Fund 97:00, Xxxxxx Xxxxxx Fund 2000, Putnam International Fund 2000, Putnam Latin America Fund and Xxxxxx Technology Fund
(xa) 1.00% of the first $500 million of the average net asset value of each series; (b) 0.90% of the next $500 million of such average net asset value; (c) 0.85% of the next $500 million of such average net asset value; (d) 0.80% of the next $5 billion of such average net asset value; (e) 0.775% of the next $5 billion of such average net asset value; (f) 0.755% of the next $5 billion of such average net asset value; (g) 0.74% of the next $5 billion of such average net asset value; and (h) 0.73% of any excess thereafter. Xxxxxx International Core Fund
(a) 1.00% of the first $500 million of the average net asset value of each series; (b) 0.90% of the next $500 million of such average net asset value; (c) 0.85% of the next $500 million of such average net asset value; (d) 0.80% of the next $5 billion of such average net asset value; (e) 0.775% of the next $5 billion of such average net asset value; (f) 0.755% of the next $5 billion of such average net asset value; (g) 0.74% of the next $5 billion of such average net asset value; (h) 0.73% of the next $5 billion of such average net asset value; (i) 0.72% of the next $5 billion of such average net asset value; (j) 0.71% of the next $5 billion of such average net asset value; (k) 0.70% of the next $5 billion of such average net asset value; (l) 0.69% of the next $5 billion of such average net asset value; (m) 0.68% of the next $8.5 billion of such average net asset value; and (n) 0.67% of any excess thereafter. Putnam Growth Fund, Xxxxxx High Yield Trust II, Putnam New Century Growth Fund and Putnam U.S. Core Fund
(a) 0.70% of the first $500 million of the average net asset value;
value of each series; (b) 0.60% of the next $500 million of such average net asset value;
; (c) 0.55% of the next $500 million of such average net asset value;
; (d) 0.50% of the next $5 billion of such average net asset value;
; (e) 0.475% of the next $5 billion of such average net asset value;
; (f) 0.455% of the next $5 billion of such average net asset value;
; (g) 0.44% of the next $5 billion of such average net asset value; and
and (h) 0.43% of any excess thereafter. Putnam High Yield Fund IIXxxxxx Financial Services Fund
(xa) 0.70% of the first $500 million of the average net asset value of each series;
; (b) 0.60% of the next $500 million of such average net asset value;
; (c) 0.55% of the next $500 million of such average net asset value;
; (d) 0.50% of the next $5 billion of such average net asset value;
; (e) 0.475% of the next $5 billion of such average net asset value;; (f) 0.455% of the next $5 billion of such average net asset value; (g) 0.44% of the next $5 billion of such average net asset value; (h) 0.43% of the next $5 billion of such average net asset value; (i) 0.42% of the next $5 billion of such average net asset value; (j) 0.41% of the next $5 billion of such average net asset value; (k) 0.40% of the next $5 billion of such average net asset value; (l) 0.39% of the next $5 billion of such average net asset value; (m) 0.38% of the next $8.5 billion of such average net asset value; and (n) 0.37% of any excess thereafter. Such average net asset value shall be determined by taking an average of all of the determinations of such net asset value during such quarter or month as the case may be, at the close of business on each business day during such quarter or month while this Contract is in effect. Such fee shall be payable for each fiscal quarter or month within 30 days after the close of such quarter or within 15 days after the close of such month (except for Xxxxxx Equity Fund 2000, which will be payable for each fiscal month within 30 days after the close of such month) and shall commence accruing as of the date of the initial issuance of shares of the Fund to the public. The fees payable by the Fund to the Manager pursuant to this Section 3 shall be reduced by any commissions, fees, brokerage or similar payments received by the Manager or any affiliated person of the Manager in connection with the purchase and sale of portfolio investments of the Fund, less any direct expenses approved by the Trustees incurred by the Manager or any affiliated person of the Manager in connection with obtaining such payments. In the event that expenses of the Fund or any series of the Fund for any fiscal year should exceed the expense limitation on investment company expenses imposed by any statute or regulatory authority of any jurisdiction in which shares of the Fund or such series are qualified for offer or sale, the compensation due the Manager for such fiscal year shall be reduced by the amount of excess by a reduction or refund thereof. In the event that the expenses of the Fund or any series of the Fund exceed any expense limitation which the Manager may, by written notice to the Fund, voluntarily declare to be effective subject to such terms and conditions as the Manager may prescribe in such notice, the compensation due the Manager shall be reduced, and, if necessary, the Manager shall assume expenses of the Fund or such series to the extent required by the terms and conditions of such expense limitation. If the Manager shall serve for less than the whole of a quarter or month, the foregoing compensation shall be prorated.
Appears in 1 contract
COMPENSATION TO BE PAID BY THE FUND TO THE MANAGER. The Fund will pay to the Manager as compensation for the Manager's services rendered, for the facilities furnished and for the expenses borne by the Manager pursuant to paragraphs (a), (b), (c) and (e) of Section 1, a fee, computed and paid quarterly at the following annual rates for each series of the Fund: Putnam Fund (except for Xxxxxx International Growth axx Xxxome Large Cap Fund and Putnam High Yield Total RxxxxxXxxxxx Global Aggressive Growth Fund, which shall be computed and paid monthly): Xxxxxx Balanced Fund and Xxxxxx Capital Opportunities Fund:
(a) 0.65% of the first $500 million of the average net asset value of the series; (b) 0.55% of the next $500 million of such average net asset value; (c) 0.50% of the next $500 million of such average net asset value; (d) 0.45% of the next $5 billion of such average net asset value; (e) 0.425% of the next $5 billion of such average net asset value; (f) 0.405% of the next $5 billion of such average net asset value; (g) 0.39% of the next $5 billion of such average net asset value; and (h) 0.38% of any excess thereafter. Xxxxxx Growth Opportunities Fund, Xxxxxx Mid-Cap Value Fund, and Xxxxxx New Value Fund:
(a) 0.70% of the first $500 million of the average net asset value of the series; (b) 0.60% of the next $500 million of such average net asset value; (c) 0.55% of the next $500 million of such average net asset value; (d) 0.50% of the next $5 billion of such average net asset value; (e) 0.475% of the next $5 billion of such average net asset value; (f) 0.455% of the next $5 billion of such average net asset value; (g) 0.44% of the next $5 billion of such average net asset value; and (h) 0.43% of any excess thereafter. Xxxxxx Global Growth and Income Fund, Xxxxxx International Fund, Xxxxxx International Large Cap Growth Fund, and Xxxxxx Small Cap Value Fund:
(a) 0.80% of the first $500 million of the average net asset value of each the series;
; (b) 0.70% of the next $500 million of such average net asset value;
; (c) 0.65% of the next $500 million of such average net asset value;
; (d) 0.60% of the next $5 billion of such average net asset value;
; (e) 0.575% of the next $5 billion of such average net asset value;
; (f) 0.555% of the next $5 billion of such average net asset value;
; (g) 0.54% of the next $5 billion of such average net asset value; and
and (h) 0.53% of any excess thereafter. Putnam Equity Xxxxxx International New Opportunities Fund, Xxxxxx International Voyager Fund 97and Xxxxxx Emerging Markets Fund:
(xa) 0.701.00% of the first $500 million of the average net asset value;
value of the series; (b) 0.600.90% of the next $500 million of such average net asset value;; (c) 0.85% of the next $500 million of such average net asset value; (d) 0.80% of the next $5 billion of such average net asset value; (e) 0.775% of the next $5 billion of such average net asset value; (f) 0.755% of the next $5 billion of such average net asset value; (g) 0.74% of the next $5 billion of such average net asset value; and (h) 0.73% of any excess thereafter. Xxxxxx Global Aggressive Growth Fund:
(a) 1.00% of the first $500 million of the average net asset value of the series; (b) 0.90% of the next $500 million of such average net asset value; (c) 0.85% of the next $500 million of such average net asset value; (d) 0.80% of the next $5 billion of such average net asset value; (e) 0.775% of the next $5 billion of such average net asset value; (f) 0.755% of the next $5 billion of such average net asset value; (g) 0.74% of the next $5 billion of such average net asset value; (b) 0.73% of the next $5 billion of such average net asset value; (c) 0.72% of the next $5 billion of such average net asset value; (d) 0.71% of the next $5 billion of such average net asset value; (e) 0.70% of the next $5 billion of such average net asset value; (f) 0.69% of the next $5 billion of such average net asset value; (h) 0.68% of the next $8.5 billion of such average net asset value; and (i) 0.67% of any excess thereafter. Xxxxxx Research Fund:
(a) 0.65% of the first $500 million of the average net asset value of the series; (b) 0.55% of the next $500 million of such average net asset value;
; (dc) 0.50% of the next $5 billion 500 million of such average net asset value;
; (ed) 0.475% of the next $5 billion of such average net asset value;
(f) 0.455% of the next $5 billion of such average net asset value;
(g) 0.440.45% of the next $5 billion of such average net asset value; and
(he) 0.430.425% of any excess thereafter. Putnam High Yield Fund II
(x) of the first $500 million of the average net asset value of each series;
(b) of the next $500 million of such average net asset value;
(c) of the next $500 million of such average net asset value;
(d) of the next $5 billion of such average net asset value;
; (ef) 0.405% of the next $5 billion of such average net asset value;; (g) 0.39% of the next $5 billion of such average net asset value; and (h) 0.38% of any excess thereafter; provided, however, that the applicable base fee will be increased or decreased for each calendar quarter by 0.01% of average net asset value of the Fund for each full 1% increment in excess of 3% (with fractional amounts rounded to the nearest whole number) by which the Fund's cumulative return (calculated in accordance with regulations of the Securities and Exchange Commission) over the 36-month period immediately preceding such calendar quarter (or the life of the Fund, if shorter) exceeds or is exceeded by, respectively, the cumulative change in value (expressed as a percentage) of the Standard & Poor's 500 Composite Stock Price Index (with dividends reinvested) over the same period, provided that the maximum increase or decrease to the base fee shall not exceed in the aggregate 0.07% of average net asset value of the Fund. For purposes of calculating the rate payable by the Fund, the Fund's cumulative return for any relevant period shall equal the change, expressed as a percentage, in the Fund's net asset value per share, including the value of any distributions of net realized capital gains or net investment income and capital gains taxes paid or payable on undistributed realized long-term capital gains, over such period. Such average net asset value shall be determined by taking an average of all of the determinations of such net asset value during such month or quarter at the close of business on each business day during such month or quarter while this Contract is in effect. Such fee shall be payable for each fiscal quarter or month within 30 days after the close of such quarter or within 15 days after the close of such month, and shall commence accruing as of the date of the initial issuance of shares of the Fund to the public. The fees payable by the Fund to the Manager pursuant to this Section 3 shall be reduced by any commissions, fees, brokerage or similar payments received by the Manager or any affiliated person of the Manager in connection with the purchase and sale of portfolio investments of the Fund, less any direct expenses approved by the Trustees incurred by the Manager or any affiliated person of the Manager in connection with obtaining such payments. In the event that expenses of the Fund or any series of the Fund for any fiscal year should exceed the expense limitation on investment company expenses imposed by any statute or regulatory authority of any jurisdiction in which shares of the Fund or such series are qualified for offer or sale, the compensation due the Manager for such fiscal year shall be reduced by the amount of excess by a reduction or refund thereof. In the event that the expenses of the Fund or any series of the Fund exceed any expense limitation which the Manager may, by written notice to the Fund, voluntarily declare to be effective subject to such terms and conditions as the Manager may prescribe in such notice, the compensation due the Manager shall be reduced, and, if necessary, the Manager shall assume expenses of the Fund or such series to the extent required by the terms and conditions of such expense limitation. If the Manager shall serve for less than the whole of a quarter, the foregoing compensation shall be prorated.
Appears in 1 contract
COMPENSATION TO BE PAID BY THE FUND TO THE MANAGER. The Fund will pay to the Manager as compensation for the Manager's services rendered, for the facilities furnished and for the expenses borne by the Manager pursuant to paragraphs (a), (b), (c) and (e) of Section 1, a fee, computed and paid quarterly at the following annual rates for each series of the Fund: Putnam Fund (except for Pxxxxx International Fund 2000 and Pxxxxx Floating Rate Daily Access Fund which shall be computed and paid monthly): Pxxxxx International Growth axx Xxxome Fund and Putnam High Yield Total RxxxxxIncome Fund
(a) 0.80% of the first $500 million of the average net asset value of each series;
; (b) 0.70% of the next $500 million of such average net asset value;
; (c) 0.65% of the next $500 million of such average net asset value;
; (d) 0.60% of the next $5 billion of such average net asset value;
; (e) 0.575% of the next $5 billion of such average net asset value;
; (f) 0.555% of the next $5 billion of such average net asset value;
; (g) 0.54% of the next $5 billion of such average net asset value; and
and (h) 0.53% of any excess thereafter. Putnam Equity Pxxxxx Small Cap Growth Fund 97:and Pxxxxx International Fund 2000
(xa) 1.00% of the first $500 million of the average net asset value of each series; (b) 0.90% of the next $500 million of such average net asset value; (c) 0.85% of the next $500 million of such average net asset value; (d) 0.80% of the next $5 billion of such average net asset value; (e) 0.775% of the next $5 billion of such average net asset value; (f) 0.755% of the next $5 billion of such average net asset value; (g) 0.74% of the next $5 billion of such average net asset value; and (h) 0.73% of any excess thereafter. Pxxxxx Growth Fund
(a) 0.70% of the first $500 million of the average net asset value;
value of each series; (b) 0.60% of the next $500 million of such average net asset value;
; (c) 0.55% of the next $500 million of such average net asset value;
; (d) 0.50% of the next $5 billion of such average net asset value;
; (e) 0.475% of the next $5 billion of such average net asset value;
; (f) 0.455% of the next $5 billion of such average net asset value;
; (g) 0.44% of the next $5 billion of such average net asset value; and
and (h) 0.43% of any excess thereafter. Putnam High Yield Fund IIPxxxxx Floating Rate Daily Access Fund
(xa) 0.65% of the first $500 million of the average net asset value of each series;
; (b) 0.55% of the next $500 million of such average net asset value;
; (c) 0.50% of the next $500 million of such average net asset value;
; (d) 0.45% of the next $5 billion of such average net asset value;
; (e) 0.425% of the next $5 billion of such average net asset value;; (f) 0.405% of the next $5 billion of such average net asset value; (g) 0.39% of the next $5 billion of such average net asset value; (h) 0.38% of the next $5 billion of such average net asset value; (i) 0.37% of the next $5 billion of such average net asset value; (j) 0.36% of the next $5 billion of such average net asset value; (k) 0.35% of the next $5 billion of such average net asset value; (l) 0.34% of the next $5 billion of such average net asset value; (m) 0.33% of the next $8.5 billion of such average net asset value; and (n) 0.32% of any excess thereafter. Such average net asset value shall be determined by taking an average of all of the determinations of such net asset value during such quarter or month as the case may be, at the close of business on each business day during such quarter or month while this Contract is in effect. Such fee shall be payable for each fiscal quarter or month within 30 days after the close of such quarter or within 15 days after the close of such month (except for Pxxxxx International Fund 2000 and Floating Rate Daily Access Fund, which will be payable for each fiscal month within 30 days after the close of such month) and shall commence accruing as of the date of the initial issuance of shares of the Fund to the public. The fees payable by the Fund to the Manager pursuant to this Section 3 shall be reduced by any commissions, fees, brokerage or similar payments received by the Manager or any affiliated person of the Manager in connection with the purchase and sale of portfolio investments of the Fund, less any direct expenses approved by the Trustees incurred by the Manager or any affiliated person of the Manager in connection with obtaining such payments. In the event that expenses of the Fund or any series of the Fund for any fiscal year should exceed the expense limitation on investment company expenses imposed by any statute or regulatory authority of any jurisdiction in which shares of the Fund or such series are qualified for offer or sale, the compensation due the Manager for such fiscal year shall be reduced by the amount of excess by a reduction or refund thereof. In the event that the expenses of the Fund or any series of the Fund exceed any expense limitation which the Manager may, by written notice to the Fund, voluntarily declare to be effective subject to such terms and conditions as the Manager may prescribe in such notice, the compensation due the Manager shall be reduced, and, if necessary, the Manager shall assume expenses of the Fund or such series to the extent required by the terms and conditions of such expense limitation. If the Manager shall serve for less than the whole of a quarter or month, the foregoing compensation shall be prorated.
Appears in 1 contract
COMPENSATION TO BE PAID BY THE FUND TO THE MANAGER. The Fund will pay to the Manager as compensation for the Manager's services rendered, for the facilities furnished and for the expenses borne by the Manager pursuant to paragraphs (a), (b), (c) and (e) of Section 1, a fee, computed and paid quarterly at the following annual rates for each series of the Fund: Putnam International Growth axx Xxxome Fund and Putnam High Yield Total RxxxxxXXXXXX BALANCED FUND AND XXXXXX RESEARCHCAPITAL OPPORTUNITIES FUND:
(a) 0.65% of the first $500 million of the average net asset value of the series;
(b) 0.55% of the next $500 million of such average net asset value;
(c) 0.50% of the next $500 million of such average net asset value;
(d) 0.45% of the next $5 billion of such average net asset value;
(e) 0.425% of the next $5 billion of such average net asset value;
(f) 0.405% of the next $5 billion of such average net asset value;
(g) 0.39% of the next $5 billion of such average net asset value; and
(h) 0.38% of any excess thereafter. XXXXXX NEW VALUE FUND,FUND, XXXXXX GROWTH OPPORTUNITIES FUND AND XXXXXX MID-CAP VALUE FUND AND PUTNAM U.S. CORE FUND II:
(a) 0.70% of the first $500 million of the average net asset value of the series;
(b) 0.60% of the next $500 million of such average net asset value;
(c) 0.55% of the next $500 million of such average net asset value;
(d) 0.50% of the next $5 billion of such average net asset value;
(e) 0.475% of the next $5 billion of such average net asset value;
(f) 0.455% of the next $5 billion of such average net asset value;
(g) 0.44% of the next $5 billion of such average net asset value; and
(h) 0.43% of any excess thereafter. XXXXXX GLOBAL EQUITY FUND, XXXXXX GLOBAL GROWTH AND INCOME FUND, XXXXXX INTERNATIONAL FUND AND XXXXXX SMALL CAP VALUE FUND:
(a) 0.80% of the first $500 million of the average net asset value of each the series;
(b) 0.70% of the next $500 million of such average net asset value;
(c) 0.65% of the next $500 million of such average net asset value;
(d) 0.60% of the next $5 billion of such average net asset value;
(e) 0.575% of the next $5 billion of such average net asset value;
(f) 0.555% of the next $5 billion of such average net asset value;
(g) 0.54% of the next $5 billion of such average net asset value; and
(h) 0.53% of any excess thereafter. Putnam Equity Fund 97XXXXXX INTERNATIONAL NEW OPPORTUNITIES FUND, XXXXXX INTERNATIONAL VOYAGER FUND AND XXXXXX EMERGING MARKETS FUND:
(xa) 0.701.00% of the first $500 million of the average net asset valuevalue of the series;
(b) 0.600.90% of the next $500 million of such average net asset value;
(c) 0.550.85% of the next $500 million of such average net asset value;
(d) 0.500.80% of the next $5 billion of such average net asset value;
(e) 0.4750.775% of the next $5 billion of such average net asset value;
(f) 0.4550.755% of the next $5 billion of such average net asset value;
(g) 0.440.74% of the next $5 billion of such average net asset value; and
(h) 0.430.73% of any excess thereafter. Putnam High Yield Fund IIXXXXXX RESEARCH FUND:
(xa) 0.65% of the first $500 million of the average net asset value of each the series;
(b) 0.55% of the next $500 million of such average net asset value;
(c) 0.50% of the next $500 million of such average net asset value;
(d) 0.45% of the next $5 billion of such average net asset value;
(e) 0.425% of the next $5 billion of such average net asset value;
(f) 0.405% of the next $5 billion of such average net asset value;
(g) 0.39% of the next $5 billion of such average net asset value; and
(h) 0.38% of any excess thereafter. The applicable base fee will be increased or decreased for each calendar quarter by 0.01% of average net asset value of the Fund for each full 1% increment in excess of 3% (with fractional amounts rounded to the nearest whole number) by which the Fund's cumulative return (calculated in accordance with regulations of the Securities and Exchange Commission) over the 36-month period immediately preceding such calendar quarter (or the life of the Fund, if shorter) exceeds or is exceeded by, respectively, the cumulative change in value (expressed as a percentage) of the Standard & Poor's 500 Composite Stock Price Index (with dividends reinvested) over the same period, provided that the maximum increase or decrease to the base fee shall not exceed in the aggregate 0.07% of average net asset value of the Fund. For purposes of calculating the rate payable by the Fund, the Fund's cumulative return for any relevant period shall equal the change, expressed as a percentage, in the Fund's net asset value per share, including the value of any distributions of net realized capital gains or net investment income and capital gains taxes paid or payable on undistributed realized long-term capital gains, over such period. Such average net asset value shall be determined by taking an average of all of the determinations of such net asset value during such quarter at the close of business on each business day during such quarter while this Contract is in effect. Such fee shall be payable for each fiscal quarter within 30 days after the close of such quarter and shall commence accruing as of the date of the initial issuance of shares of the Fund to the public. The fees payable by the Fund to the Manager pursuant to this Section 3 shall be reduced by any commissions, fees, brokerage or similar payments received by the Manager or any affiliated person of the Manager in connection with the purchase and sale of portfolio investments of the Fund, less any direct expenses approved by the Trustees incurred by the Manager or any affiliated person of the Manager in connection with obtaining such payments. In the event that expenses of the Fund or any series of the Fund for any fiscal year should exceed the expense limitation on investment company expenses imposed by any statute or regulatory authority of any jurisdiction in which shares of the Fund or such series are qualified for offer or sale, the compensation due the Manager for such fiscal year shall be reduced by the amount of excess by a reduction or refund thereof. In the event that the expenses of the Fund or any series of the Fund exceed any expense limitation which the Manager may, by written notice to the Fund, voluntarily declare to be effective subject to such terms and conditions as the Manager may prescribe in such notice, the compensation due the Manager shall be reduced, and, if necessary, the Manager shall assume expenses of the Fund or such series to the extent required by the terms and conditions of such expense limitation. If the Manager shall serve for less than the whole of a quarter, the foregoing compensation shall be prorated.
Appears in 1 contract
COMPENSATION TO BE PAID BY THE FUND TO THE MANAGER. The Fund will pay to the Manager as compensation for the Manager's services rendered, for the facilities furnished and for the expenses borne by the Manager pursuant to paragraphs (a), (b), (c) and (e) of Section 1, a fee, computed and paid quarterly at the following annual rates for each series of the Fund (except for Xxxxxx International Large Cap Fund: Putnam International Growth axx Xxxome , which shall be computed and paid monthly): Xxxxxx Balanced Fund and Putnam High Yield Total RxxxxxXxxxxx Capital Opportunities Fund:
(a) 0.65% of the first $500 million of the average net asset value of the series;
(b) 0.55% of the next $500 million of such average net asset value;
(c) 0.50% of the next $500 million of such average net asset value;
(d) 0.45% of the next $5 billion of such average net asset value;
(e) 0.425% of the next $5 billion of such average net asset value;
(f) 0.405% of the next $5 billion of such average net asset value;
(g) 0.39% of the next $5 billion of such average net asset value; and
(h) 0.38% of any excess thereafter. Xxxxxx Growth Opportunities Fund, Xxxxxx Mid-Cap Value Fund and Xxxxxx New Value Fund:
(a) 0.70% of the first $500 million of the average net asset value of the series;
(b) 0.60% of the next $500 million of such average net asset value;
(c) 0.55% of the next $500 million of such average net asset value;
(d) 0.50% of the next $5 billion of such average net asset value;
(e) 0.475% of the next $5 billion of such average net asset value;
(f) 0.455% of the next $5 billion of such average net asset value;
(g) 0.44% of the next $5 billion of such average net asset value; and
(h) 0.43% of any excess thereafter. Xxxxxx Global Growth and Income, Xxxxxx International Fund, Xxxxxx International Large Cap Fund, Xxxxxx Small Cap Value Fund and Xxxxxx Worldwide Equity Fund:
(a) 0.80% of the first $500 million of the average net asset value of each the series;
(b) 0.70% of the next $500 million of such average net asset value;
(c) 0.65% of the next $500 million of such average net asset value;
(d) 0.60% of the next $5 billion of such average net asset value;
(e) 0.575% of the next $5 billion of such average net asset value;
(f) 0.555% of the next $5 billion of such average net asset value;
(g) 0.54% of the next $5 billion of such average net asset value; and
(h) 0.53% of any excess thereafter. Putnam Equity Xxxxxx Emerging Markets Fund, Xxxxxx International New Opportunities Fund 97and Xxxxxx International Voyager Fund:
(xa) 0.701.00% of the first $500 million of the average net asset valuevalue of the series;
(b) 0.600.90% of the next $500 million of such average net asset value;
(c) 0.550.85% of the next $500 million of such average net asset value;
(d) 0.500.80% of the next $5 billion of such average net asset value;
(e) 0.4750.775% of the next $5 billion of such average net asset value;
(f) 0.4550.755% of the next $5 billion of such average net asset value;
(g) 0.440.74% of the next $5 billion of such average net asset value; and
(h) 0.430.73% of any excess thereafter. Putnam High Yield Fund IIXxxxxx Research Fund:
(xa) 0.65% of the first $500 million of the average net asset value of each the series;
(b) 0.55% of the next $500 million of such average net asset value;
(c) 0.50% of the next $500 million of such average net asset value;
(d) 0.45% of the next $5 billion of such average net asset value;
(e) 0.425% of the next $5 billion of such average net asset value;
(f) 0.405% of the next $5 billion of such average net asset value;
(g) 0.39% of the next $5 billion of such average net asset value; and
(h) 0.38% of any excess thereafter; provided, however, that the applicable base fee will be increased or decreased for each calendar quarter by 0.01% of average net asset value of the Fund for each full 1% increment in excess of 3% (with fractional amounts rounded to the nearest whole number) by which the Fund's cumulative return (calculated in accordance with regulations of the Securities and Exchange Commission) over the 36-month period immediately preceding such calendar quarter (or the life of the Fund, if shorter) exceeds or is exceeded by, respectively, the cumulative change in value (expressed as a percentage) of the Standard & Poor's 500 Composite Stock Price Index (with dividends reinvested) over the same period, provided that the maximum increase or decrease to the base fee shall not exceed in the aggregate 0.07% of average net asset value of the Fund. For purposes of calculating the rate payable by the Fund, the Fund's cumulative return for any relevant period shall equal the change, expressed as a percentage, in the Fund's net asset value per share, including the value of any distributions of net realized capital gains or net investment income and capital gains taxes paid or payable on undistributed realized long-term capital gains, over such period. Such average net asset value shall be determined by taking an average of all of the determinations of such net asset value during such quarter or month at the close of business on each business day during such quarter or month while this Contract is in effect. Such fee shall be payable for each fiscal quarter or month within 30 days after the close of such quarter or within 15 days after the close of such month, and shall commence accruing as of the date of the initial issuance of shares of the Fund to the public. The fees payable by the Fund to the Manager pursuant to this Section 3 shall be reduced by any commissions, fees, brokerage or similar payments received by the Manager or any affiliated person of the Manager in connection with the purchase and sale of portfolio investments of the Fund, less any direct expenses approved by the Trustees incurred by the Manager or any affiliated person of the Manager in connection with obtaining such payments. In the event that expenses of the Fund or any series of the Fund for any fiscal year should exceed the expense limitation on investment company expenses imposed by any statute or regulatory authority of any jurisdiction in which shares of the Fund or such series are qualified for offer or sale, the compensation due the Manager for such fiscal year shall be reduced by the amount of excess by a reduction or refund thereof. In the event that the expenses of the Fund or any series of the Fund exceed any expense limitation which the Manager may, by written notice to the Fund, voluntarily declare to be effective subject to such terms and conditions as the Manager may prescribe in such notice, the compensation due the Manager shall be reduced, and, if necessary, the Manager shall assume expenses of the Fund or such series to the extent required by the terms and conditions of such expense limitation. If the Manager shall serve for less than the whole of a quarter or month, the foregoing compensation shall be prorated.
Appears in 1 contract
COMPENSATION TO BE PAID BY THE FUND TO THE MANAGER. The Fund will pay to the Manager as compensation for the Manager's services rendered, for the facilities furnished and for the expenses borne by the Manager pursuant to paragraphs (a), (b), (c) and (e) of Section 1, a fee, computed and paid quarterly at the following annual rates for each series of the Fund: Putnam International Growth axx Xxxome and Income Fund and Putnam High Yield Hxxx Xxeld Total RxxxxxReturn Fund
(a) 0.80% of the xx xxe first $500 million of the average net asset value of each series;
(b) 0.70% of the next $500 million of such average net asset value;
(c) 0.65% of the next $500 million of such average net asset value;
(d) 0.60% of the next $5 billion of such average net asset value;
(e) 0.575% of the next $5 billion of such average net asset value;
(f) 0.555% of the next $5 billion of such average net asset value;
(g) 0.54% of the next $5 billion of such average net asset value; and
(h) 0.53% of any excess thereafter. Putnam Equity Fund 97:98
(xa) 0.701.00% of the first $500 million 000 xillion of the average net asset valuevalue of each series;
(b) 0.600.90% of the next $500 million of such average net asset value;
(c) 0.550.85% of the next $500 million of such average net asset value;
(d) 0.500.80% of the next $5 billion of such average net asset value;
; (e) 0.4750.775% of the next $5 billion of such average net asset value;
; (f) 0.4550.755% of the next $5 billion of such average net asset value;
(g) 0.440.74% of the next $5 billion of such average net asset value; and
(h) 0.430.73% of any excess thereafter. Putnam High Yield Asia Pacific Fund II
II and Putnam Latin America Xxxx (xa) 1.20% of the first $500 million of the average net asset value of each series;
(b) 1.10% of the next $500 million of such average net asset value;
(c) 1.05% of the next $500 million of such average net asset value;
(d) 1.00% of the next $5 billion of such average net asset value;
(e) 0.975% of the next $5 billion of such average net asset value;
(f) 0.955% of the next $5 billion of such average net asset value;
(g) 0.94% of the next $5 billion of such average net asset value; and
(h) 0.93% of any excess thereafter. Putnam High Yield Trust II, Putnam Investment Fund 98, Putnam Growth Fund, Xxxxxx Value Fund, and Xxxxxx X.X. X Xxxx Xxxx (a) 0.70% of the first $500 million of the average net asset value of each series;
Appears in 1 contract
COMPENSATION TO BE PAID BY THE FUND TO THE MANAGER. The Fund will pay to the Manager as compensation for the Manager's services rendered, for the facilities furnished and for the expenses borne by the Manager pursuant to paragraphs (a), (b), (c) and (e) of Section 1, a fee, computed and paid quarterly at the following annual rates for each series of the Fund: Putnam Fund (except for Pxxxxx International Fund 2000 and Pxxxxx Floating Rate Income Fund which shall be computed and paid monthly): Pxxxxx International Growth axx Xxxome Fund and Putnam High Yield Total RxxxxxIncome Fund
(a) 0.80% of the first $500 million of the average net asset value of each series;
; (b) 0.70% of the next $500 million of such average net asset value;
; (c) 0.65% of the next $500 million of such average net asset value;
; (d) 0.60% of the next $5 billion of such average net asset value;
; (e) 0.575% of the next $5 billion of such average net asset value;
; (f) 0.555% of the next $5 billion of such average net asset value;
; (g) 0.54% of the next $5 billion of such average net asset value; and
and (h) 0.53% of any excess thereafter. Putnam Equity Pxxxxx Small Cap Growth Fund 97:and Pxxxxx International Fund 2000
(xa) 1.00% of the first $500 million of the average net asset value of each series; (b) 0.90% of the next $500 million of such average net asset value; (c) 0.85% of the next $500 million of such average net asset value; (d) 0.80% of the next $5 billion of such average net asset value; (e) 0.775% of the next $5 billion of such average net asset value; (f) 0.755% of the next $5 billion of such average net asset value; (g) 0.74% of the next $5 billion of such average net asset value; and (h) 0.73% of any excess thereafter. Pxxxxx Growth Fund
(a) 0.70% of the first $500 million of the average net asset value;
value of each series; (b) 0.60% of the next $500 million of such average net asset value;
; (c) 0.55% of the next $500 million of such average net asset value;
; (d) 0.50% of the next $5 billion of such average net asset value;
; (e) 0.475% of the next $5 billion of such average net asset value;
; (f) 0.455% of the next $5 billion of such average net asset value;
; (g) 0.44% of the next $5 billion of such average net asset value; and
and (h) 0.43% of any excess thereafter. Putnam High Yield Fund IIPxxxxx Floating Rate Income Fund
(xa) 0.65% of the first $500 million of the average net asset value of each series;
; (b) 0.55% of the next $500 million of such average net asset value;
; (c) 0.50% of the next $500 million of such average net asset value;
; (d) 0.45% of the next $5 billion of such average net asset value;
; (e) 0.425% of the next $5 billion of such average net asset value;; (f) 0.405% of the next $5 billion of such average net asset value; (g) 0.39% of the next $5 billion of such average net asset value; (h) 0.38% of the next $5 billion of such average net asset value; (i) 0.37% of the next $5 billion of such average net asset value; (j) 0.36% of the next $5 billion of such average net asset value; (k) 0.35% of the next $5 billion of such average net asset value; (l) 0.34% of the next $5 billion of such average net asset value; (m) 0.33% of the next $8.5 billion of such average net asset value; and (n) 0.32% of any excess thereafter. Pxxxxx Income Opportunities Fund
(a) 0.65% of the first $500 million of the average net asset value of each series; (b) 0.55% of the next $500 million of such average net asset value; (c) 0.50% of the next $500 million of such average net asset value; (d) 0.45% of the next $5 billion of such average net asset value; (e) 0.425% of the next $5 billion of such average net asset value; (f) 0.405% of the next $5 billion of such average net asset value; (g) 0.39% of the next $5 billion of such average net asset value; (h) 0.38% of the next $5 billion of such average net asset value; (i) 0.37% of the next $5 billion of such average net asset value; (j) 0.36% of the next $5 billion of such average net asset value; (k) 0.35% of the next $5 billion of such average net asset value; (l) 0.34% of the next $5 billion of such average net asset value; (m) 0.33% of the next $8.5 billion of such average net asset value; and (n) 0.32% of any excess thereafter. Such average net asset value shall be determined by taking an average of all of the determinations of such net asset value during such quarter or month as the case may be, at the close of business on each business day during such quarter or month while this Contract is in effect. Such fee shall be payable for each fiscal quarter or month within 30 days after the close of such quarter or within 15 days after the close of such month (except for Pxxxxx International Fund 2000 and Floating Rate Income Fund, which will be payable for each fiscal month within 30 days after the close of such month) and shall commence accruing as of the date of the initial issuance of shares of the Fund to the public. The fees payable by the Fund to the Manager pursuant to this Section 3 shall be reduced by any commissions, fees, brokerage or similar payments received by the Manager or any affiliated person of the Manager in connection with the purchase and sale of portfolio investments of the Fund, less any direct expenses approved by the Trustees incurred by the Manager or any affiliated person of the Manager in connection with obtaining such payments. In the event that expenses of the Fund or any series of the Fund for any fiscal year should exceed the expense limitation on investment company expenses imposed by any statute or regulatory authority of any jurisdiction in which shares of the Fund or such series are qualified for offer or sale, the compensation due the Manager for such fiscal year shall be reduced by the amount of excess by a reduction or refund thereof. In the event that the expenses of the Fund or any series of the Fund exceed any expense limitation which the Manager may, by written notice to the Fund, voluntarily declare to be effective subject to such terms and conditions as the Manager may prescribe in such notice, the compensation due the Manager shall be reduced, and, if necessary, the Manager shall assume expenses of the Fund or such series to the extent required by the terms and conditions of such expense limitation. If the Manager shall serve for less than the whole of a quarter or month, the foregoing compensation shall be prorated.
Appears in 1 contract
COMPENSATION TO BE PAID BY THE FUND TO THE MANAGER. The Fund will pay to the Manager as compensation for the Manager's services rendered, for the facilities furnished and for the expenses borne by the Manager pursuant to paragraphs (a), (b), (c) and (e) of Section 1, a fee, computed and paid quarterly at the following annual rates for each series of the Fund (except for Pxxxxx Equity Fund 2000, Pxxxxx Financial Services Fund: Putnam , Pxxxxx Income Opportunities Fund, Pxxxxx International Core Fund, Pxxxxx Xxxxxxxxxxxxx Xxxx 0000, Xxxxxx Mid Cap Fund 2000 and Pxxxxx Technology Fund, which shall be computed and paid monthly): Pxxxxx International Growth axx Xxxome Fund and Putnam High Yield Total RxxxxxIncome Fund
(a) 0.80% of the first $500 million of the average net asset value of each series;
; (b) 0.70% of the next $500 million of such average net asset value;
; (c) 0.65% of the next $500 million of such average net asset value;
; (d) 0.60% of the next $5 billion of such average net asset value;
; (e) 0.575% of the next $5 billion of such average net asset value;
; (f) 0.555% of the next $5 billion of such average net asset value;
; (g) 0.54% of the next $5 billion of such average net asset value; and
and (h) 0.53% of any excess thereafter. Putnam Pxxxxx Mid Cap Fund 2000
(a) 0.80% of the first $500 million of the average net asset value of each series; (b) 0.70% of the next $500 million of such average net asset value; (c) 0.65% of the next $500 million of such average net asset value; (d) 0.60% of the next $5 billion of such average net asset value; (e) 0.575% of the next $5 billion of such average net asset value; (f) 0.555% of the next $5 billion of such average net asset value; (g) 0.54% of the next $5 billion of such average net asset value; (h) 0.53% of the next $5 billion of such average net asset value; (i) 0.52% of the next $5 billion of such average net asset value; (j) 0.51% of the next $5 billion of such average net asset value; (k) 0.50% of the next $5 billion of such average net asset value; (l) 0.49% of the next $5 billion of such average net asset value; (m) 0.48% of the next $8.5 billion of such average net asset value; and (n) 0.47% of any excess thereafter. Pxxxxx Asia Pacific Fund II, Pxxxxx Equity Fund 97:90, Xxxxxx Xxxxxx Fund 2000, Putnam International Fund 2000, Putnam Latin America Fund and Pxxxxx Technology Fund
(xa) 1.00% of the first $500 million of the average net asset value of each series; (b) 0.90% of the next $500 million of such average net asset value; (c) 0.85% of the next $500 million of such average net asset value; (d) 0.80% of the next $5 billion of such average net asset value; (e) 0.775% of the next $5 billion of such average net asset value; (f) 0.755% of the next $5 billion of such average net asset value; (g) 0.74% of the next $5 billion of such average net asset value; and (h) 0.73% of any excess thereafter. Pxxxxx International Core Fund
(a) 1.00% of the first $500 million of the average net asset value of each series; (b) 0.90% of the next $500 million of such average net asset value; (c) 0.85% of the next $500 million of such average net asset value; (d) 0.80% of the next $5 billion of such average net asset value; (e) 0.775% of the next $5 billion of such average net asset value; (f) 0.755% of the next $5 billion of such average net asset value; (g) 0.74% of the next $5 billion of such average net asset value; (h) 0.73% of the next $5 billion of such average net asset value; (i) 0.72% of the next $5 billion of such average net asset value; (j) 0.71% of the next $5 billion of such average net asset value; (k) 0.70% of the next $5 billion of such average net asset value; (l) 0.69% of the next $5 billion of such average net asset value; (m) 0.68% of the next $8.5 billion of such average net asset value; and (n) 0.67% of any excess thereafter. Pxxxxx Growth Fund, Pxxxxx High Yield Trust II, Putnam New Century Growth Fund and Putnam U.S. Core Fund
(a) 0.70% of the first $500 million of the average net asset value;
value of each series; (b) 0.60% of the next $500 million of such average net asset value;
; (c) 0.55% of the next $500 million of such average net asset value;
; (d) 0.50% of the next $5 billion of such average net asset value;
; (e) 0.475% of the next $5 billion of such average net asset value;
; (f) 0.455% of the next $5 billion of such average net asset value;
; (g) 0.44% of the next $5 billion of such average net asset value; and
and (h) 0.43% of any excess thereafter. Putnam High Yield Fund IIPxxxxx Financial Services Fund
(xa) 0.70% of the first $500 million of the average net asset value of each series;
; (b) 0.60% of the next $500 million of such average net asset value;
; (c) 0.55% of the next $500 million of such average net asset value;
; (d) 0.50% of the next $5 billion of such average net asset value;
; (e) 0.475% of the next $5 billion of such average net asset value;; (f) 0.455% of the next $5 billion of such average net asset value; (g) 0.44% of the next $5 billion of such average net asset value; (h) 0.43% of the next $5 billion of such average net asset value; (i) 0.42% of the next $5 billion of such average net asset value; (j) 0.41% of the next $5 billion of such average net asset value; (k) 0.40% of the next $5 billion of such average net asset value; (l) 0.39% of the next $5 billion of such average net asset value; (m) 0.38% of the next $8.5 billion of such average net asset value; and (n) 0.37% of any excess thereafter. Pxxxxx Income Opportunities Fund
(a) 0.65% of the first $500 million of the average net asset value of each series; (b) 0.55% of the next $500 million of such average net asset value; (c) 0.50% of the next $500 million of such average net asset value; (d) 0.45% of the next $5 billion of such average net asset value; (e) 0.425% of the next $5 billion of such average net asset value; (f) 0.405% of the next $5 billion of such average net asset value; (g) 0.39% of the next $5 billion of such average net asset value; (h) 0.38% of the next $5 billion of such average net asset value; (i) 0.37% of the next $5 billion of such average net asset value; (j) 0.36% of the next $5 billion of such average net asset value; (k) 0.35% of the next $5 billion of such average net asset value; (l) 0.34% of the next $5 billion of such average net asset value; (m) 0.33% of the next $8.5 billion of such average net asset value; and (n) 0.32% of any excess thereafter. Such average net asset value shall be determined by taking an average of all of the determinations of such net asset value during such quarter or month as the case may be, at the close of business on each business day during such quarter or month while this Contract is in effect. Such fee shall be payable for each fiscal quarter or month within 30 days after the close of such quarter or within 15 days after the close of such month (except for Pxxxxx Equity Fund 2000, which will be payable for each fiscal month within 30 days after the close of such month) and shall commence accruing as of the date of the initial issuance of shares of the Fund to the public. The fees payable by the Fund to the Manager pursuant to this Section 3 shall be reduced by any commissions, fees, brokerage or similar payments received by the Manager or any affiliated person of the Manager in connection with the purchase and sale of portfolio investments of the Fund, less any direct expenses approved by the Trustees incurred by the Manager or any affiliated person of the Manager in connection with obtaining such payments. In the event that expenses of the Fund or any series of the Fund for any fiscal year should exceed the expense limitation on investment company expenses imposed by any statute or regulatory authority of any jurisdiction in which shares of the Fund or such series are qualified for offer or sale, the compensation due the Manager for such fiscal year shall be reduced by the amount of excess by a reduction or refund thereof. In the event that the expenses of the Fund or any series of the Fund exceed any expense limitation which the Manager may, by written notice to the Fund, voluntarily declare to be effective subject to such terms and conditions as the Manager may prescribe in such notice, the compensation due the Manager shall be reduced, and, if necessary, the Manager shall assume expenses of the Fund or such series to the extent required by the terms and conditions of such expense limitation. If the Manager shall serve for less than the whole of a quarter or month, the foregoing compensation shall be prorated.
Appears in 1 contract
COMPENSATION TO BE PAID BY THE FUND TO THE MANAGER. The Fund will pay to the Manager as compensation for the Manager's services rendered, for the facilities furnished and for the expenses borne by the Manager pursuant to paragraphs (a), (b), (c) and (e) of Section 1, a fee, computed and paid quarterly at the following annual rates for each series of the Fund: Putnam International Growth axx Xxxome Fund and Putnam High Yield Total RxxxxxXXXXXX BALANCED FUND AND XXXXXX RESEARCHCAPITAL OPPORTUNITIES FUND:
(a) 0.65% of the first $500 million of the average net asset value of the series;
(b) 0.55% of the next $500 million of such average net asset value;
(c) 0.50% of the next $500 million of such average net asset value;
(d) 0.45% of the next $5 billion of such average net asset value;
(e) 0.425% of the next $5 billion of such average net asset value;
(f) 0.405% of the next $5 billion of such average net asset value;
(g) 0.39% of the next $5 billion of such average net asset value; and
(h) 0.38% of any excess thereafter. XXXXXX NEW VALUE FUND,FUND, XXXXXX GROWTH OPPORTUNITIES FUND AND XXXXXX MID-CAP VALUE FUND AND PUTNAM U.S. CORE FUND II:
(a) 0.70% of the first $500 million of the average net asset value of the series;
(b) 0.60% of the next $500 million of such average net asset value;
(c) 0.55% of the next $500 million of such average net asset value;
(d) 0.50% of the next $5 billion of such average net asset value;
(e) 0.475% of the next $5 billion of such average net asset value;
(f) 0.455% of the next $5 billion of such average net asset value;
(g) 0.44% of the next $5 billion of such average net asset value; and
(h) 0.43% of any excess thereafter. XXXXXX WORLDWIDE EQUITY FUND, XXXXXX GLOBAL GROWTH AND INCOME FUND, XXXXXX INTERNATIONAL FUND AND XXXXXX SMALL CAP VALUE FUND:
(a) 0.80% of the first $500 million of the average net asset value of each the series;
(b) 0.70% of the next $500 million of such average net asset value;
(c) 0.65% of the next $500 million of such average net asset value;
(d) 0.60% of the next $5 billion of such average net asset value;
(e) 0.575% of the next $5 billion of such average net asset value;
(f) 0.555% of the next $5 billion of such average net asset value;
(g) 0.54% of the next $5 billion of such average net asset value; and
(h) 0.53% of any excess thereafter. Putnam Equity Fund 97XXXXXX INTERNATIONAL NEW OPPORTUNITIES FUND, XXXXXX INTERNATIONAL VOYAGER FUND AND XXXXXX EMERGING MARKETS FUND:
(xa) 0.701.00% of the first $500 million of the average net asset valuevalue of the series;
(b) 0.600.90% of the next $500 million of such average net asset value;
(c) 0.550.85% of the next $500 million of such average net asset value;
(d) 0.500.80% of the next $5 billion of such average net asset value;
(e) 0.4750.775% of the next $5 billion of such average net asset value;
(f) 0.4550.755% of the next $5 billion of such average net asset value;
(g) 0.440.74% of the next $5 billion of such average net asset value; and
(h) 0.430.73% of any excess thereafter. Putnam High Yield Fund IIXXXXXX RESEARCH FUND:
(xa) 0.65% of the first $500 million of the average net asset value of each the series;
(b) 0.55% of the next $500 million of such average net asset value;
(c) 0.50% of the next $500 million of such average net asset value;
(d) 0.45% of the next $5 billion of such average net asset value;
(e) 0.425% of the next $5 billion of such average net asset value;
(f) 0.405% of the next $5 billion of such average net asset value;
(g) 0.39% of the next $5 billion of such average net asset value; and
(h) 0.38% of any excess thereafter; provided, however, that the applicable base fee will be increased or decreased for each calendar quarter by 0.01% of average net asset value of the Fund for each full 1% increment in excess of 3% (with fractional amounts rounded to the nearest whole number) by which the Fund's cumulative return (calculated in accordance with regulations of the Securities and Exchange Commission) over the 36-month period immediately preceding such calendar quarter (or the life of the Fund, if shorter) exceeds or is exceeded by, respectively, the cumulative change in value (expressed as a percentage) of the Standard & Poor's 500 Composite Stock Price Index (with dividends reinvested) over the same period, provided that the maximum increase or decrease to the base fee shall not exceed in the aggregate 0.07% of average net asset value of the Fund. For purposes of calculating the rate payable by the Fund, the Fund's cumulative return for any relevant period shall equal the change, expressed as a percentage, in the Fund's net asset value per share, including the value of any distributions of net realized capital gains or net investment income and capital gains taxes paid or payable on undistributed realized long-term capital gains, over such period. Such average net asset value shall be determined by taking an average of all of the determinations of such net asset value during such quarter at the close of business on each business day during such quarter while this Contract is in effect. Such fee shall be payable for each fiscal quarter within 30 days after the close of such quarter and shall commence accruing as of the date of the initial issuance of shares of the Fund to the public. The fees payable by the Fund to the Manager pursuant to this Section 3 shall be reduced by any commissions, fees, brokerage or similar payments received by the Manager or any affiliated person of the Manager in connection with the purchase and sale of portfolio investments of the Fund, less any direct expenses approved by the Trustees incurred by the Manager or any affiliated person of the Manager in connection with obtaining such payments. In the event that expenses of the Fund or any series of the Fund for any fiscal year should exceed the expense limitation on investment company expenses imposed by any statute or regulatory authority of any jurisdiction in which shares of the Fund or such series are qualified for offer or sale, the compensation due the Manager for such fiscal year shall be reduced by the amount of excess by a reduction or refund thereof. In the event that the expenses of the Fund or any series of the Fund exceed any expense limitation which the Manager may, by written notice to the Fund, voluntarily declare to be effective subject to such terms and conditions as the Manager may prescribe in such notice, the compensation due the Manager shall be reduced, and, if necessary, the Manager shall assume expenses of the Fund or such series to the extent required by the terms and conditions of such expense limitation. If the Manager shall serve for less than the whole of a quarter, the foregoing compensation shall be prorated.
Appears in 1 contract
COMPENSATION TO BE PAID BY THE FUND TO THE MANAGER. The Fund will pay to the Manager as compensation for the Manager's services rendered, for the facilities furnished and for the expenses borne by the Manager pursuant to paragraphs (a), (b), (c) and (e) of Section 1, a fee, computed and paid quarterly at the following annual rates for each series of the Fund: Putnam Fund (except for Xxxxxx International Fund 2000 which shall be computed and paid monthly): Xxxxxx International Growth axx Xxxome and Income Fund and Putnam Xxxxxx High Yield Total RxxxxxReturn Fund
(a) 0.80% of the first $500 million of the average net asset value of each series;
(b) 0.70% of the next $500 million of such average net asset value;
(c) 0.65% of the next $500 million of such average net asset value;
(d) 0.60% of the next $5 billion of such average net asset value;
(e) 0.575% of the next $5 billion of such average net asset value;
(f) 0.555% of the next $5 billion of such average net asset value;
(g) 0.54% of the next $5 billion of such average net asset value; and
(h) 0.53% of any excess thereafter. Putnam Xxxxxx Equity Fund 97:00, Xxxxxx Xxxx Pacific Fund II, Putnam Latin America Fund and Xxxxxx International Fund 2000
(xa) 1.00% of the first $500 million of the average net asset value of each series;
(b) 0.90% of the next $500 million of such average net asset value;
(c) 0.85% of the next $500 million of such average net asset value;
(d) 0.80% of the next $5 billion of such average net asset value;
(e) 0.775% of the next $5 billion of such average net asset value;
(f) 0.755% of the next $5 billion of such average net asset value;
(g) 0.74% of the next $5 billion of such average net asset value; and
(h) 0.73% of any excess thereafter. Xxxxxx High Yield Trust II, Xxxxxx Investment Fund 00, Xxxxxx Xxxxxx Xxxx, Xxxxxx Value Fund, and Putnam U.S. Core Fund
(a) 0.70% of the first $500 million of the average net asset valuevalue of each series;
(b) 0.60% of the next $500 million of such average net asset value;
(c) 0.55% of the next $500 million of such average net asset value;
(d) 0.50% of the next $5 billion of such average net asset value;
(e) 0.475% of the next $5 billion of such average net asset value;
(f) 0.455% of the next $5 billion of such average net asset value;
(g) 0.44% of the next $5 billion of such average net asset value; and
(h) 0.43% of any excess thereafter. Putnam High Yield Fund II
(x) of the first $500 million of the Such average net asset value shall be determined by taking an average of each series;
(b) all of the next $500 million determinations of such average net asset value;
(c) value during such quarter or month as the case may be, at the close of business on each business day during such quarter or month while this Contract is in effect. Such fee shall be payable for each fiscal quarter or month within 30 days after the close of such quarter or month and shall commence accruing as of the next $500 million date of the initial issuance of shares of the Fund to the public. The fees payable by the Fund to the Manager pursuant to this Section 3 shall be reduced by any commissions, fees, brokerage or similar payments received by the Manager or any affiliated person of the Manager in connection with the purchase and sale of portfolio investments of the Fund, less any direct expenses approved by the Trustees incurred by the Manager or any affiliated person of the Manager in connection with obtaining such payments. In the event that expenses of the Fund or any series of the Fund for any fiscal year should exceed the expense limitation on investment company expenses imposed by any statute or regulatory authority of any jurisdiction in which shares of the Fund or such series are qualified for offer or sale, the compensation due the Manager for such fiscal year shall be reduced by the amount of excess by a reduction or refund thereof. In the event that the expenses of the Fund or any series of the Fund exceed any expense limitation which the Manager may, by written notice to the Fund, voluntarily declare to be effective subject to such terms and conditions as the Manager may prescribe in such notice, the compensation due the Manager shall be reduced, and, if necessary, the Manager shall assume expenses of the Fund or such series to the extent required by the terms and conditions of such average net asset value;
(d) expense limitation. If the Manager shall serve for less than the whole of a quarter or month, the next $5 billion of such average net asset value;
(e) of the next $5 billion of such average net asset value;foregoing compensation shall be prorated.
Appears in 1 contract
COMPENSATION TO BE PAID BY THE FUND TO THE MANAGER. The Fund will pay to the Manager as compensation for the Manager's services rendered, for the facilities furnished and for the expenses borne by the Manager pursuant to paragraphs (a), (b), (c) and (e) of Section 1, a fee, computed and paid quarterly at the following annual rates for each series of the Fund: Putnam International Growth axx Xxxome Xxxxxx Balanced Fund and Putnam High Yield Total RxxxxxXxxxxx Research Fund:
(a) 0.65% of the first $500 million of the average net asset value of the series;
(b) 0.55% of the next $500 million of such average net asset value;
(c) 0.50% of the next $500 million of such average net asset value;
(d) 0.45% of the next $5 billion of such average net asset value;
(e) 0.425% of the next $5 billion of such average net asset value;
(f) 0.405% of the next $5 billion of such average net asset value;
(g) 0.39% of the next $5 billion of such average net asset value; and
(h) 0.38% of any excess thereafter. Xxxxxx Real Estate Opportunities Fund, Xxxxxx Basic Value Fund and Xxxxxx American Renaissance Fund:
(a) 0.70% of the first $500 million of the average net asset value of the series;
(b) 0.60% of the next $500 million of such average net asset value;
(c) 0.55% of the next $500 million of such average net asset value;
(d) 0.50% of the next $5 billion of such average net asset value;
(e) 0.475% of the next $5 billion of such average net asset value;
(f) 0.455% of the next $5 billion of such average net asset value;
(g) 0.44% of the next $5 billion of such average net asset value; and
(h) 0.43% of any excess thereafter. Xxxxxx Global Growth and Income Fund, Xxxxxx International Fund and Xxxxxx Japan Fund:
(a) 0.80% of the first $500 million of the average net asset value of each the series;
(b) 0.70% of the next $500 million of such average net asset value;
(c) 0.65% of the next $500 million of such average net asset value;
(d) 0.60% of the next $5 billion of such average net asset value;
(e) 0.575% of the next $5 billion of such average net asset value;
(f) 0.555% of the next $5 billion of such average net asset value;
(g) 0.54% of the next $5 billion of such average net asset value; and
(h) 0.53% of any excess thereafter. Putnam Equity Xxxxxx International New Opportunities Fund, Xxxxxx Genesis Fund 97and Xxxxxx Emerging Growth Fund:
(xa) 0.701.20% of the first $500 million of the average net asset valuevalue of the series;
(b) 0.601.10% of the next $500 million of such average net asset value;
(c) 0.551.05% of the next $500 million of such average net asset value;
(d) 0.501.00% of the next $5 billion of such average net asset value;
(e) 0.4750.975% of the next $5 billion of such average net asset value;
(f) 0.4550.955% of the next $5 billion of such average net asset value;
(g) 0.440.94% of the next $5 billion of such average net asset value; and
(h) 0.430.93% of any excess thereafter. Putnam High Yield Fund II
(x) of the first $500 million of the Such average net asset value shall be determined by taking an average of each series;
(b) all of the next $500 million determinations of such average net asset value;
(c) value during such quarter at the close of business on each business day during such quarter while this Contract is in effect. Such fee shall be payable for each fiscal quarter within 30 days after the close of such quarter and shall commence accruing as of the next $500 million date of the initial issuance of shares of the Fund to the public. The fees payable by the Fund to the Manager pursuant to this Section 3 shall be reduced by any commissions, fees, brokerage or similar payments received by the Manager or any affiliated person of the Manager in connection with the purchase and sale of portfolio investments of the Fund, less any direct expenses approved by the Trustees incurred by the Manager or any affiliated person of the Manager in connection with obtaining such payments. In the event that expenses of the Fund or any series of the Fund for any fiscal year should exceed the expense limitation on investment company expenses imposed by any statute or regulatory authority of any jurisdiction in which shares of the Fund or such series are qualified for offer or sale, the compensation due the Manager for such fiscal year shall be reduced by the amount of excess by a reduction or refund thereof. In the event that the expenses of the Fund or any series of the Fund exceed any expense limitation which the Manager may, by written notice to the Fund, voluntarily declare to be effective subject to such terms and conditions as the Manager may prescribe in such notice, the compensation due the Manager shall be reduced, and, if necessary, the Manager shall assume expenses of the Fund or such series to the extent required by the terms and conditions of such average net asset value;
(d) expense limitation. If the Manager shall serve for less than the whole of a quarter, the next $5 billion of such average net asset value;
(e) of the next $5 billion of such average net asset value;foregoing compensation shall be prorated.
Appears in 1 contract
COMPENSATION TO BE PAID BY THE FUND TO THE MANAGER. The Fund will pay to the Manager as compensation for the Manager's services rendered, for the facilities furnished and for the expenses borne by the Manager pursuant to paragraphs (a), (b), (c) and (e) of Section 1, a fee, computed and paid quarterly at the following annual rates for each series of the Fund: Putnam International Growth axx Xxxome Xxxxxx Balanced Fund and Putnam High Yield Total RxxxxxXxxxxx Research Fund:
(a) 0.65% of the first $500 million of the average net asset value of the series;
(b) 0.55% of the next $500 million of such average net asset value;
(c) 0.50% of the next $500 million of such average net asset value;
(d) 0.45% of the next $5 billion of such average net asset value;
(e) 0.425% of the next $5 billion of such average net asset value;
(f) 0.405% of the next $5 billion of such average net asset value;
(g) 0.39% of the next $5 billion of such average net asset value; and
(h) 0.38% of any excess thereafter. Xxxxxx Basic Value Fund and Xxxxxx American Renaissance Fund:
(a) 0.70% of the first $500 million of the average net asset value of the series;
(b) 0.60% of the next $500 million of such average net asset value;
(c) 0.55% of the next $500 million of such average net asset value;
(d) 0.50% of the next $5 billion of such average net asset value;
(e) 0.475% of the next $5 billion of such average net asset value;
(f) 0.455% of the next $5 billion of such average net asset value;
(g) 0.44% of the next $5 billion of such average net asset value; and
(h) 0.43% of any excess thereafter. Xxxxxx Global Growth and Income Fund, Xxxxxx International Fund and Xxxxxx Japan Fund:
(a) 0.80% of the first $500 million of the average net asset value of each the series;
(b) 0.70% of the next $500 million of such average net asset value;
(c) 0.65% of the next $500 million of such average net asset value;
(d) 0.60% of the next $5 billion of such average net asset value;
(e) 0.575% of the next $5 billion of such average net asset value;
(f) 0.555% of the next $5 billion of such average net asset value;
(g) 0.54% of the next $5 billion of such average net asset value; and
(h) 0.53% of any excess thereafter. Putnam Equity Xxxxxx International New Opportunities Fund, Xxxxxx Genesis Fund 97and Xxxxxx Emerging Growth Fund:
(xa) 0.701.20% of the first $500 million of the average net asset valuevalue of the series;
(b) 0.601.10% of the next $500 million of such average net asset value;
(c) 0.551.05% of the next $500 million of such average net asset value;
(d) 0.501.00% of the next $5 billion of such average net asset value;
(e) 0.4750.975% of the next $5 billion of such average net asset value;
(f) 0.4550.955% of the next $5 billion of such average net asset value;
(g) 0.440.94% of the next $5 billion of such average net asset value; and
(h) 0.430.93% of any excess thereafter. Putnam High Yield Fund II
(x) of the first $500 million of the Such average net asset value shall be determined by taking an average of each series;
(b) all of the next $500 million determinations of such average net asset value;
(c) value during such quarter at the close of business on each business day during such quarter while this Contract is in effect. Such fee shall be payable for each fiscal quarter within 30 days after the close of such quarter and shall commence accruing as of the next $500 million date of the initial issuance of shares of the Fund to the public. The fees payable by the Fund to the Manager pursuant to this Section 3 shall be reduced by any commissions, fees, brokerage or similar payments received by the Manager or any affiliated person of the Manager in connection with the purchase and sale of portfolio investments of the Fund, less any direct expenses approved by the Trustees incurred by the Manager or any affiliated person of the Manager in connection with obtaining such payments. In the event that expenses of the Fund or any series of the Fund for any fiscal year should exceed the expense limitation on investment company expenses imposed by any statute or regulatory authority of any jurisdiction in which shares of the Fund or such series are qualified for offer or sale, the compensation due the Manager for such fiscal year shall be reduced by the amount of excess by a reduction or refund thereof. In the event that the expenses of the Fund or any series of the Fund exceed any expense limitation which the Manager may, by written notice to the Fund, voluntarily declare to be effective subject to such terms and conditions as the Manager may prescribe in such notice, the compensation due the Manager shall be reduced, and, if necessary, the Manager shall assume expenses of the Fund or such series to the extent required by the terms and conditions of such average net asset value;
(d) expense limitation. If the Manager shall serve for less than the whole of a quarter, the next $5 billion of such average net asset value;
(e) of the next $5 billion of such average net asset value;foregoing compensation shall be prorated.
Appears in 1 contract
COMPENSATION TO BE PAID BY THE FUND TO THE MANAGER. The Fund will pay to the Manager as compensation for the Manager's services rendered, for the facilities furnished and for the expenses borne by the Manager pursuant to paragraphs (a), (b), (c) and (e) of Section 1, a fee, computed and paid quarterly at the following annual rates for each series of the Fund: Putnam International Growth axx Xxxome Fund and Putnam High Yield Total RxxxxxFund IIX:
(a) 0.80% of the first $500 million of the average net asset value of each series;
(b) 0.70% of the next $500 million of such average net asset value;
(c) 0.65% of the next $500 million of such average net asset value;
(d) 0.60% of the next $5 billion of such average net asset value;
(e) 0.575% of the next $5 billion of such average net asset value;
(f) 0.555% of the next $5 billion of such average net asset value;
(g) 0.54% of the next $5 billion of such average net asset value; and
(h) 0.53% of any excess thereafter. Putnam Equity Fund 97Specialty Growth Fund:
(xa) 0.70% of the first $500 million of the average net asset value;
(b) 0.60% of the next $500 million of such average net asset value;
(c) 0.55% of the next $500 million of such average net asset value;
(d) 0.50% of the next $5 billion of such average net asset value;
(e) 0.475% of the next $5 billion of such average net asset value;
(f) 0.455% of the next $5 billion of such average net asset value;
(g) 0.44% of the next $5 billion of such average net asset value; and
(h) 0.43% of any excess thereafter. Putnam High Yield Fund II
(x) of the first $500 million of the Such average net asset value shall be determined by taking an average of each series;
(b) all of the next $500 million determinations of such average net asset value;
(c) value during such quarter at the close of business on each business day during such quarter while this Contract is in effect. Such fee shall be payable for each fiscal quarter within 30 days after the close of such quarter and shall commence accruing as of the next $500 million date of the initial issuance of shares of the Fund to the public. The fees payable by the Fund to the Manager pursuant to this Section 3 shall be reduced by any commissions, fees, brokerage or similar payments received by the Manager or any affiliated person of the Manager in connection with the purchase and sale of portfolio investments of the Fund, less any direct expenses approved by the Trustees incurred by the Manager or any affiliated person of the Manager in connection with obtaining such payments. In the event that expenses of the Fund or any series of the Fund for any fiscal year should exceed the expense limitation on investment company expenses imposed by any statute or regulatory authority of any jurisdiction in which shares of the Fund or such series are qualified for offer or sale, the compensation due the Manager for such fiscal year shall be reduced by the amount of excess by a reduction or refund thereof. In the event that the expenses of the Fund or any series of the Fund exceed any expense limitation which the Manager may, by written notice to the Fund, voluntarily declare to be effective subject to such terms and conditions as the Manager may prescribe in such notice, the compensation due the Manager shall be reduced, and, if necessary, the Manager shall assume expenses of the Fund or such series to the extent required by the terms and conditions of such average net asset value;
(d) expense limitation. If the Manager shall serve for less than the whole of a quarter, the next $5 billion of such average net asset value;
(e) of the next $5 billion of such average net asset value;foregoing compensation shall be prorated.
Appears in 1 contract
COMPENSATION TO BE PAID BY THE FUND TO THE MANAGER. The Fund will pay to the Manager as compensation for the Manager's services rendered, for the facilities furnished and for the expenses borne by the Manager pursuant to paragraphs (a), (b), (c) and (e) of Section 1, a fee, computed and paid quarterly at the following annual rates for each series of the Fund (except for Xxxxxx International Blend Fund: Putnam , Xxxxxx International Large Cap Growth axx Xxxome Fund and Putnam High Yield Total RxxxxxXxxxxx Global Aggressive Growth Fund, which shall be computed and paid monthly): Xxxxxx Balanced Fund and Xxxxxx Capital Opportunities Fund:
(a) 0.65% of the first $500 million of the average net asset value of the series; (b) 0.55% of the next $500 million of such average net asset value; (c) 0.50% of the next $500 million of such average net asset value; (d) 0.45% of the next $5 billion of such average net asset value; (e) 0.425% of the next $5 billion of such average net asset value; (f) 0.405% of the next $5 billion of such average net asset value; (g) 0.39% of the next $5 billion of such average net asset value; and (h) 0.38% of any excess thereafter. Xxxxxx Growth Opportunities Fund, Xxxxxx Mid-Cap Value Fund, and Xxxxxx New Value Fund:
(a) 0.70% of the first $500 million of the average net asset value of the series; (b) 0.60% of the next $500 million of such average net asset value; (c) 0.55% of the next $500 million of such average net asset value; (d) 0.50% of the next $5 billion of such average net asset value; (e) 0.475% of the next $5 billion of such average net asset value; (f) 0.455% of the next $5 billion of such average net asset value; (g) 0.44% of the next $5 billion of such average net asset value; and (h) 0.43% of any excess thereafter. Xxxxxx Global Growth and Income Fund, Xxxxxx International Fund and Xxxxxx Small Cap Value Fund:
(a) 0.80% of the first $500 million of the average net asset value of each the series;
; (b) 0.70% of the next $500 million of such average net asset value;
; (c) 0.65% of the next $500 million of such average net asset value;
; (d) 0.60% of the next $5 billion of such average net asset value;
; (e) 0.575% of the next $5 billion of such average net asset value;
; (f) 0.555% of the next $5 billion of such average net asset value;
; (g) 0.54% of the next $5 billion of such average net asset value; and
and (h) 0.53% of any excess thereafter. Putnam Equity Fund 97Xxxxxx International Large Cap Growth Fund:
(xa) 0.700.80% of the first $500 million of the average net asset value;
value of the series; (b) 0.600.70% of the next $500 million of such average net asset value;; (c) 0.65% of the next $500 million of such average net asset value; (d) 0.60% of the next $5 billion of such average net asset value; (e) 0.575% of the next $5 billion of such average net asset value; (f) 0.555% of the next $5 billion of such average net asset value; (g) 0.54% of the next $5 billion of such average net asset value; (h) 0.53% of the next $5 billion of such average net asset value; (i) 0.52% of the next $5 billion of such average net asset value; (j) 0.51% of the next $5 billion of such average net asset value; (k) 0.50% of the next $5 billion of such average net asset value; (l) 0.49% of the next $5 billion of such average net asset value; (m) 0.48% of the next $8.5 billion of such average net asset value; and (n) 0.47% of any excess thereafter. Xxxxxx International New Opportunities Fund, Xxxxxx International Voyager Fund and Xxxxxx Emerging Markets Fund:
(a) 1.00% of the first $500 million of the average net asset value of the series; (b) 0.90% of the next $500 million of such average net asset value; (c) 0.85% of the next $500 million of such average net asset value; (d) 0.80% of the next $5 billion of such average net asset value; (e) 0.775% of the next $5 billion of such average net asset value; (f) 0.755% of the next $5 billion of such average net asset value; (g) 0.74% of the next $5 billion of such average net asset value; and (h) 0.73% of any excess thereafter. Xxxxxx Global Aggressive Growth Fund and Xxxxxx International Blend Fund:
(a) 1.00% of the first $500 million of the average net asset value of the series; (b) 0.90% of the next $500 million of such average net asset value; (c) 0.85% of the next $500 million of such average net asset value; (d) 0.80% of the next $5 billion of such average net asset value; (e) 0.775% of the next $5 billion of such average net asset value; (f) 0.755% of the next $5 billion of such average net asset value; (g) 0.74% of the next $5 billion of such average net asset value; (h) 0.73% of the next $5 billion of such average net asset value; (i) 0.72% of the next $5 billion of such average net asset value; (j) 0.71% of the next $5 billion of such average net asset value; (k) 0.70% of the next $5 billion of such average net asset value; (l) 0.69% of the next $5 billion of such average net asset value; (m) 0.68% of the next $8.5 billion of such average net asset value; and (n) 0.67% of any excess thereafter. Xxxxxx Research Fund:
(a) 0.65% of the first $500 million of the average net asset value of the series; (b) 0.55% of the next $500 million of such average net asset value;
; (dc) 0.50% of the next $5 billion 500 million of such average net asset value;
; (ed) 0.475% of the next $5 billion of such average net asset value;
(f) 0.455% of the next $5 billion of such average net asset value;
(g) 0.440.45% of the next $5 billion of such average net asset value; and
(he) 0.430.425% of any excess thereafter. Putnam High Yield Fund II
(x) of the first $500 million of the average net asset value of each series;
(b) of the next $500 million of such average net asset value;
(c) of the next $500 million of such average net asset value;
(d) of the next $5 billion of such average net asset value;
; (ef) 0.405% of the next $5 billion of such average net asset value;; (g) 0.39% of the next $5 billion of such average net asset value; and (h) 0.38% of any excess thereafter; provided, however, that the applicable base fee will be increased or decreased for each calendar quarter by 0.01% of average net asset value of the Fund for each full 1% increment in excess of 3% (with fractional amounts rounded to the nearest whole number) by which the Fund's cumulative return (calculated in accordance with regulations of the Securities and Exchange Commission) over the 36-month period immediately preceding such calendar quarter (or the life of the Fund, if shorter) exceeds or is exceeded by, respectively, the cumulative change in value (expressed as a percentage) of the Standard & Poor's 500 Composite Stock Price Index (with dividends reinvested) over the same period, provided that the maximum increase or decrease to the base fee shall not exceed in the aggregate 0.07% of average net asset value of the Fund. For purposes of calculating the rate payable by the Fund, the Fund's cumulative return for any relevant period shall equal the change, expressed as a percentage, in the Fund's net asset value per share, including the value of any distributions of net realized capital gains or net investment income and capital gains taxes paid or payable on undistributed realized long-term capital gains, over such period. Such average net asset value shall be determined by taking an average of all of the determinations of such net asset value during such month or quarter at the close of business on each business day during such month or quarter while this Contract is in effect. Such fee shall be payable for each fiscal quarter or month within 30 days after the close of such quarter or within 15 days after the close of such month, and shall commence accruing as of the date of the initial issuance of shares of the Fund to the public. The fees payable by the Fund to the Manager pursuant to this Section 3 shall be reduced by any commissions, fees, brokerage or similar payments received by the Manager or any affiliated person of the Manager in connection with the purchase and sale of portfolio investments of the Fund, less any direct expenses approved by the Trustees incurred by the Manager or any affiliated person of the Manager in connection with obtaining such payments. In the event that expenses of the Fund or any series of the Fund for any fiscal year should exceed the expense limitation on investment company expenses imposed by any statute or regulatory authority of any jurisdiction in which shares of the Fund or such series are qualified for offer or sale, the compensation due the Manager for such fiscal year shall be reduced by the amount of excess by a reduction or refund thereof. In the event that the expenses of the Fund or any series of the Fund exceed any expense limitation which the Manager may, by written notice to the Fund, voluntarily declare to be effective subject to such terms and conditions as the Manager may prescribe in such notice, the compensation due the Manager shall be reduced, and, if necessary, the Manager shall assume expenses of the Fund or such series to the extent required by the terms and conditions of such expense limitation. If the Manager shall serve for less than the whole of a quarter, the foregoing compensation shall be prorated.
Appears in 1 contract
