Common use of COMPENSATION TO BE Clause in Contracts

COMPENSATION TO BE. Paid by the Manager to the Sub-adviser. The Manager will pay to the Sub-Adviser as compensation for the Sub- Adviser's services rendered and for the expenses borne by the Sub-Adviser pursuant to Section 1, a fee, computed and paid monthly at the annual rate of 0.50% of the Fund's average daily net assets. Such average daily net asset value of the Fund shall be determined by taking an average of all of the determinations of such net asset value during such month at the close of business on each business day during such month while this contract is in effect. For the purposes of determining fees payable to the Sub-Adviser, the value of the net assets of the Fund shall be computed at the times and in the manner specified in the Prospectus or Statement of Additional Information relating to the Fund as from time to time in effect. Such fee shall be payable for each month within 10 business days after the end of such month. Notwithstanding the foregoing, in the event that any reduction in the fees paid to the Manager under the investment advisory agreement between the Trust and the Manager and relating to the Fund (the "Management Contract") shall be required as a result of any statutory or regulatory limitation on investment company expenses, there shall be a proportionate reduction in the fee payable to the Sub-Adviser hereunder; provided that the Sub-Adviser will never be required to pay more than the amount of fees it receives. If the Sub-Adviser shall serve for less than the whole of a month, the foregoing compensation shall be prorated.

COMPENSATION TO BE. Paid by the Manager to the SubPAID BY THE MANAGER TO THE SUB-adviserADVISER. The Manager will pay to the Sub-Adviser as compensation for the Sub- Sub-Adviser's services rendered rendered, for the facilities furnished and for the expenses borne by the Sub-Adviser pursuant to Section 1, a fee, computed and paid monthly at the annual rate of 0.500.875% of the Fund's average daily net assetsasset value. Such average daily net asset value of the Fund shall be determined by taking an average of all of the determinations of such net asset value during such month at the close of business on each business day during such month while this contract Agreement is in effect. For the purposes of determining fees payable to the Sub-Adviser, the value of the net assets of the Fund shall be computed at the times and in the manner specified in the Prospectus or Statement of Additional Information relating to the Fund as from time to time in effect. Such fee shall be payable for each month within 10 five (5) business days after the end of such month. Notwithstanding the foregoing, in In the event that any reduction in the fees paid to the Manager under the investment advisory agreement between the Trust and the Manager and relating to expenses of the Fund (for any fiscal year should exceed the "Management Contract") shall be required as a result of any statutory or regulatory expense limitation on investment company expensesexpenses imposed by any statute or regulatory authority of any jurisdiction in which shares of the Trust are qualified for offer and sale, there shall be a proportionate reduction in the fee payable to compensation due the Sub-Adviser hereunder; provided for such fiscal year shall be reduced by the amount of such excess by a reduction or refund thereof. In the event that the expenses of the Fund exceed any expense limitation which the Sub-Adviser will never may, by written notice to the Manager, voluntarily declare to be effective with respect to the Fund, subject to such terms and conditions as the Sub-Adviser may prescribe in such notice, the compensation due the Sub-Adviser shall be reduced, and, if necessary, the Sub-Adviser shall bear the Fund's expenses to the extent required to pay more than the amount of fees it receivesby such expense limitation. If the Sub-Adviser shall serve for less than the whole of a month, the foregoing compensation shall be prorated.

COMPENSATION TO BE. Paid by the Manager to the SubPAID BY THE MANAGER TO THE SUB-adviserADVISER. The Manager will pay to the Sub-Adviser as compensation for the Sub- Sub-Adviser's services rendered rendered, for the facilities furnished and for the expenses borne by the Sub-Adviser pursuant to Section 1, a fee, computed and paid monthly at the annual rate of 0.500.375% of the Fund's average daily net assetsasset value. Such average daily net asset value of the Fund shall be determined by taking an average of all of the determinations of such net asset value during such month at the close of business on each business day during such month while this contract Agreement is in effect. For the purposes of determining fees payable to the Sub-Adviser, the value of the net assets of the Fund shall be computed at the times and in the manner specified in the Prospectus or Statement of Additional Information relating to the Fund as from time to time in effect. Such fee shall be payable for each month within 10 five (5) business days after the end of such month. Notwithstanding the foregoing, in In the event that any reduction in the fees paid to the Manager under the investment advisory agreement between the Trust and the Manager and relating to expenses of the Fund (for any fiscal year should exceed the "Management Contract") shall be required as a result of any statutory or regulatory expense limitation on investment company expensesexpenses imposed by any statute or regulatory authority of any jurisdiction in which shares of the Trust are qualified for offer and sale, there shall be a proportionate reduction in the fee payable to compensation due the Sub-Adviser hereunder; provided for such fiscal year shall be reduced by the amount of such excess by a reduction or refund thereof. In the event that the expenses of the Fund exceed any expense limitation which the Sub-Adviser will never may, by written notice to the Manager, voluntarily declare to be effective with respect to the Fund, subject to such terms and conditions as the Sub-Adviser may prescribe in such notice, the compensation due the Sub-Adviser shall be reduced, and, if necessary, the Sub-Adviser shall bear the Fund's expenses to the extent required to pay more than the amount of fees it receivesby such expense limitation. If the Sub-Adviser shall serve for less than the whole of a month, the foregoing compensation shall be prorated.

COMPENSATION TO BE. Paid by the Manager to the SubPAID BY THE MANAGER TO THE SUB-adviserADVISER. The Manager will pay to the Sub-Adviser as compensation for the Sub- Sub-Adviser's services rendered rendered, for the facilities furnished and for the expenses borne by the Sub-Adviser pursuant to Section 1, a fee, computed and paid monthly at the annual rate of 0.50% of the Fund's average daily net assetsasset value. Such average daily net asset value of the Fund shall be determined by taking an average of all of the determinations of such net asset value during such month at the close of business on each business day during such month while this contract Agreement is in effect. For the purposes of determining fees payable to the Sub-Adviser, the value of the net assets of the Fund shall be computed at the times and in the manner specified in the Prospectus or Statement of Additional Information relating to the Fund as from time to time in effect. Such fee shall be payable for each month within 10 five (5) business days after the end of such month. Notwithstanding the foregoing, in In the event that any reduction in the fees paid to the Manager under the investment advisory agreement between the Trust and the Manager and relating to expenses of the Fund (for any fiscal year should exceed the "Management Contract") shall be required as a result of any statutory or regulatory expense limitation on investment company expensesexpenses imposed by any statute or regulatory authority of any jurisdiction in which shares of the Trust are qualified for offer and sale, there shall be a proportionate reduction in the fee payable to compensation due the Sub-Adviser hereunder; provided for such fiscal year shall be reduced by the amount of such excess by a reduction or refund thereof. In the event that the expenses of the Fund exceed any expense limitation which the Sub-Adviser will never may, by written notice to the Manager, voluntarily declare to be effective with respect to the Fund, subject to such terms and conditions as the Sub-Adviser may prescribe in such notice, the compensation due the Sub-Adviser shall be reduced, and, if necessary, the Sub-Adviser shall bear the Fund's expenses to the extent required to pay more than the amount of fees it receivesby such expense limitation. If the Sub-Adviser shall serve for less than the whole of a month, the foregoing compensation shall be prorated.

COMPENSATION TO BE. Paid by the Manager to the SubPAID BY THE MANAGER TO THE SUB-adviserADVISER. The Manager will pay to the Sub-Adviser as compensation for the Sub- Sub-Adviser's services rendered rendered, for the facilities furnished and for the expenses borne by the Sub-Adviser pursuant to Section 1, a fee, computed and paid monthly at the annual rate of 0.50% of the Fund's average daily net assetsasset value. Such average daily net asset value of the Fund shall be determined by taking an average of all of the determinations of such net asset value during such month at the close of business on each business day during such month while this contract Agreement is in effect. For the purposes of determining fees payable to the Sub-Adviser, the value of the net assets of the Fund shall be computed at the times and in the manner specified in the Prospectus or Statement of Additional Information relating to the Fund as from time to time in effect. Such fee shall be payable for each month within 10 five (5) business days after the end of such month. Notwithstanding the foregoing, in In the event that any reduction in the fees paid to the Manager under the investment advisory agreement between the Trust and the Manager and relating to expenses of the Fund (for any fiscal year should exceed the "Management Contract") shall be required as a result of any statutory or regulatory expense limitation on investment company expensesexpenses imposed by any statute or regulatory authority of any jurisdiction in which shares of the Trust are qualified for offer and sale, there shall be a proportionate reduction in the fee payable to compensation due the Sub-Adviser hereunder; provided for such fiscal year shall be reduced by the amount of such excess by a reduction or refund thereof. In the event that the expenses of the Fund exceed any expense limitation which the Sub-Adviser will never may, by written notice to the Manager, voluntarily declare to be effective with respect to the Fund, subject to such terms and conditions as the Sub-Adviser may prescribe in such notice, the compensation due the Sub-Adviser shall be reduced, and, if necessary, the Sub- Adviser shall bear the Fund's expenses to the extent required to pay more than the amount of fees it receivesby such expense limitation. If the Sub-Adviser shall serve for less than the whole of a month, the foregoing compensation shall be prorated.

COMPENSATION TO BE. Paid by the Manager to the SubPAID BY THE MANAGER TO THE SUB-adviserADVISER. The Manager will pay to the Sub-Adviser as compensation (the "Compensation") for the Sub- Sub-Adviser's services rendered rendered, for the facilities furnished and for the expenses borne by the Sub-Adviser pursuant to Section 1, a fee, computed and paid monthly at the annual rate of 0.500.875% of the Fund's average daily net assetsasset value. Such average daily net asset value of the Fund shall be determined by taking an average of all of the determinations of such net asset value during such month at the close of business on each business day during such month while this contract Agreement is in effect. For the purposes of determining fees payable to the Sub-Adviser, the value of the net assets of the Fund shall be computed at the times and in the manner specified in the Prospectus or Statement of Additional Information relating to the Fund as from time to time in effect. Such fee shall be payable for each month within 10 five (5) business days after the end of such month. Notwithstanding the foregoing, in In the event that any reduction in the fees paid to the Manager under the investment advisory agreement between the Trust and the Manager and relating to expenses of the Fund (for any fiscal year should exceed the "Management Contract") shall be required as a result of any statutory or regulatory expense limitation on investment company expensesexpenses imposed by any statute or regulatory authority of any jurisdiction in which shares of the Trust are qualified for offer and sale, there shall be a proportionate reduction in the fee payable to Compensation due the Sub-Adviser hereunder; provided for such fiscal year shall be reduced by the amount of such excess by a reduction or refund thereof. In the event that the expenses of the Fund exceed any expense limitation which the Sub-Adviser will never may, by written notice to the Manager, voluntarily declare to be required effective with respect to pay more than the amount of fees it receives. If Fund, subject to such terms and conditions as the Sub-Adviser may prescribe in such notice, the Compensation due the Sub-Adviser shall serve for less than the whole of a monthbe reduced, and, if necessary, the foregoing compensation Sub-Adviser shall be proratedbear the Fund's expenses to the extent required by such expense limitation.

COMPENSATION TO BE. Paid by the Manager to the SubPAID BY THE MANAGER TO THE SUB-adviserADVISER. The Manager will pay to the Sub-Adviser as compensation (the "Compensation") for the Sub- Sub-Adviser's services rendered rendered, for the facilities furnished and for the expenses borne by the Sub-Adviser pursuant to Section 1, a fee, computed and paid monthly at the annual rate of 0.50% of the Fund's average daily net assetsasset value. Such average daily net asset value of the Fund shall be determined by taking an average of all of the determinations of such net asset value during such month at the close of business on each business day during such month while this contract Agreement is in effect. For the purposes of determining fees payable to the Sub-Adviser, the value of the net assets of the Fund shall be computed at the times and in the manner specified in the Prospectus or Statement of Additional Information relating to the Fund as from time to time in effect. Such fee shall be payable for each month within 10 five (5) business days after the end of such month. Notwithstanding the foregoing, in In the event that any reduction in the fees paid to the Manager under the investment advisory agreement between the Trust and the Manager and relating to expenses of the Fund (for any fiscal year should exceed the "Management Contract") shall be required as a result of any statutory or regulatory expense limitation on investment company expensesexpenses imposed by any statute or regulatory authority of any jurisdiction in which shares of the Trust are qualified for offer and sale, there shall be a proportionate reduction in the fee payable to Compensation due the Sub-Adviser hereunder; provided for such fiscal year shall be reduced by the amount of such excess by a reduction or refund thereof. In the event that the expenses of the Fund exceed any expense limitation which the Sub-Adviser will never may, by written notice to the Manager, voluntarily declare to be effective with respect to the Fund, subject to such terms and conditions as the Sub-Adviser may prescribe in such notice, the Compensation due the Sub-Adviser shall be reduced, and, if necessary, the Sub-Adviser shall bear the Fund's expenses to the extent required to pay more than the amount of fees it receivesby such expense limitation. If the Sub-Adviser shall serve for less than the whole of a month, the foregoing compensation shall be prorated.. Further:

COMPENSATION TO BE. Paid by the Manager to the SubPAID BY THE MANAGER TO THE SUB-adviserADVISER. The Manager will pay to the Sub-Adviser as compensation (the "Compensation") for the Sub- Sub-Adviser's services rendered rendered, for the facilities furnished and for the expenses borne by the Sub-Adviser pursuant to Section 1, a fee, computed and paid monthly at the annual rate of 0.500.375% of the Fund's average daily net assetsasset value. Such average daily net asset value of the Fund shall be determined by taking an average of all of the determinations of such net asset value during such month at the close of business on each business day during such month while this contract Agreement is in effect. For the purposes of determining fees payable to the Sub-Adviser, the value of the net assets of the Fund shall be computed at the times and in the manner specified in the Prospectus or Statement of Additional Information relating to the Fund as from time to time in effect. Such fee shall be payable for each month within 10 five (5) business days after the end of such month. Notwithstanding the foregoing, in In the event that any reduction in the fees paid to the Manager under the investment advisory agreement between the Trust and the Manager and relating to expenses of the Fund (for any fiscal year should exceed the "Management Contract") shall be required as a result of any statutory or regulatory expense limitation on investment company expensesexpenses imposed by any statute or regulatory authority of any jurisdiction in which shares of the Trust are qualified for offer and sale, there shall be a proportionate reduction in the fee payable to Compensation due the Sub-Adviser hereunder; provided for such fiscal year shall be reduced by the amount of such excess by a reduction or refund thereof. In the event that the expenses of the Fund exceed any expense limitation which the Sub-Adviser will never may, by written notice to the Manager, voluntarily declare to be effective with respect to the Fund, subject to such terms and conditions as the Sub-Adviser may prescribe in such notice, the Compensation due the Sub-Adviser shall be reduced, and, if necessary, the Sub-Adviser shall bear the Fund's expenses to the extent required to pay more than the amount of fees it receivesby such expense limitation. If the Sub-Adviser shall serve for less than the whole of a month, the foregoing compensation shall be prorated.. Further: