Common use of Founders Fund Clause in Contracts

Founders Fund. The Adviser agrees to limit the Total Annual Fund Operating Expenses (as defined in Item 3 of Form N-1A) of the Founders Fund (excluding shareholder servicing fees, brokerage expenses, interest expenses, acquired fund fees and expenses, taxes, and extraordinary expenses) to an annual rate of 0.80% of the Founders Fund’s average daily net assets for the Institutional Class through January 31, 2018. The Adviser will reduce the fee payable with respect to the Founders Fund to the extent of such excess and/or shall reimburse the Founder Fund (or class as applicable) by the amount of such excess. If applicable, the waiver or reimbursement shall be allocated to each class of the Founders Fund in the same manner as the underlying expenses or fees were allocated.

Founders Fund. The Adviser agrees to limit the Total Annual Fund Operating Expenses (as defined in Item 3 of Form N-1A) of the Founders Fund (excluding shareholder servicing fees, brokerage expenses, interest expenses, acquired fund fees and expenses, taxes, taxes and extraordinary expenses) to an annual rate of 0.80% of the Founders Fund’s average daily net assets for the Institutional Class through January 31, 2018. The Adviser will reduce the fee payable with respect to the Founders Fund to the extent of such excess and/or shall reimburse the Founder Fund (or class as applicable) by the amount of such excess. If applicable, the waiver or reimbursement shall be allocated to each class of the Founders Fund in the same manner as the underlying expenses or fees were allocated.

Founders Fund. The Adviser agrees to limit the Total Annual Fund Operating Expenses (as defined in Item 3 of Form N-1A) of the Founders Fund (excluding shareholder servicing fees, brokerage expenses, interest expenses, acquired fund fees and expenses, taxes, taxes and extraordinary expenses) to an annual rate of 0.80% of the Founders Fund’s average daily net assets for the Institutional Class as of February 1, 2019 and shall continue at least through January 31, 20182020. The Adviser will reduce the fee payable with respect to the Founders Fund to the extent of such excess and/or shall reimburse the Founder Fund (or class as applicable) by the amount of such excess. If applicable, the waiver or reimbursement shall be allocated to each class of the Founders Fund in the same manner as the underlying expenses or fees were allocated.

Founders Fund. The Adviser agrees to limit the Total Annual Fund Operating Expenses (as defined in Item 3 of Form N-1A) of the Founders Fund (excluding shareholder servicing fees, brokerage expenses, interest expenses, acquired fund fees and expenses, taxes, taxes and extraordinary expenses) to an annual rate of 0.80% of the Founders Fund’s average daily net assets for the Institutional Class through January 31, 20182019. The Adviser will reduce the fee payable with respect to the Founders Fund to the extent of such excess and/or shall reimburse the Founder Fund (or class as applicable) by the amount of such excess. If applicable, the waiver or reimbursement shall be allocated to each class of the Founders Fund in the same manner as the underlying expenses or fees were allocated.