Common use of Group Fee Clause in Contracts

Group Fee. The monthly Group Fee ("Monthly Group Fee") shall be the sum of the daily Group Fee accruals ("Daily Group Fee Accruals") for each month. The Daily Group Fee Accrual for any particular day will be computed by multiplying the Price Funds' group fee accrual as determined below ("Daily Price Funds' Group Fee Accrual") by the ratio of the Fund's net assets for that day to the sum of the aggregate net assets of the Price Funds for that day. The Daily Price Funds' Group Fee Accrual for any particular day shall be calculated by multiplying the fraction of one (1) over the number of calendar days in the year by the annualized Daily Price Funds' Group Fee Accrual for that day as determined in accordance with the following schedule: Price Funds' Annual Group Base Fee Rate for Each Level of Assets ______________________________________ 0.480% First $1 billion 0.450% Next $1 billion 0.420% Next $1 billion 0.390% Next $1 billion 0.370% Next $1 billion 0.360% Next $2 billion 0.350% Next $2 billion 0.340% Next $5 billion 0.330% Next $10 billion 0.320% Next $10 billion 0.310% Next $16 billion 0.305% Next $30 billion 0.300% Next $40 billion 0.295% Thereafter The Price Funds shall include all the mutual funds distributed by T. Xxxx Price Investment Services, Inc., (other than institutional, private label, or index funds, Spectrum Funds and Reserve Investment Funds). For the purpose of calculating the Daily Price Funds' Group Fee Accrual for any particular day, the net assets of each Price Fund shall be determined in accordance with the prospectus, on behalf of the Fund, as of the close of business on the previous business day on which the Fund was open for business.

Group Fee. The monthly Group Fee ("Monthly Group Fee") shall be the sum of the daily Group Fee accruals ("Daily Group Fee Accruals") for each month. The Daily Group Fee Accrual for any particular day will be computed by multiplying the Price Funds' Funds group fee accrual as determined below ("Daily Price Funds' Funds Group Fee Accrual") by the ratio of the Fund's Fund s net assets for that day to the sum of the aggregate net assets of the Price Funds for that day. The Daily Price Funds' Funds Group Fee Accrual for any particular day shall be calculated by multiplying the fraction of one (1) over the number of calendar days in the year by the annualized Daily Price Funds' Funds Group Fee Accrual for that day as determined in accordance with the following schedule: Price Funds' Funds Annual Group Base Fee Rate for Each Level of Assets ______________________________________ 0.480% First $1 billion 0.450% Next $1 billion 0.420% Next $1 billion 0.390% Next $1 billion 0.370% Next $1 billion 0.360% Next $2 billion 0.350% Next $2 billion 0.340% Next $5 billion 0.330% Next $10 billion 0.320% Next $10 billion 0.310% Next $16 billion 0.305% Next $30 billion 0.300% Next $40 billion 0.295% Thereafter The Price Funds shall include all the mutual funds distributed by T. X. Xxxx Price Investment Services, Inc., Inc. (other than institutional, institutional or "private label, or index " funds, Equity Index, and Spectrum Funds and Reserve Investment Funds). For the purpose purposes of calculating the Daily Price Funds' Funds Group Fee Accrual for any particular day, the net assets of each Price Fund shall be determined in accordance with the prospectus, on behalf of the Fund, Fund s prospectus as of the close of business on the previous business day on which the Fund was open for business.

Group Fee. The monthly Group Fee ("Monthly Group Fee") shall be the sum of the daily Group Fee accruals ("Daily Group Fee Accruals") for each month. The Daily Group Fee Accrual for any particular day will be computed by multiplying the Price Funds' group fee accrual as determined below ("Daily Price Funds' Group Fee Accrual") by the ratio of the Fund's net assets for that day to the sum of the aggregate net assets of the Price Funds for that day. The Daily Price Funds' Group Fee Accrual for any particular day shall be calculated by multiplying the fraction of one (1) over the number of calendar days in the year by the annualized Daily Price Funds' Group Fee Accrual for that day as determined in accordance with the following schedule: Price Funds' Funds Annual Group Base Fee Rate for Each Level of Assets __________________________________________ 0.480% First $1 billion 0.350% Next $2 billion 0.450% Next $1 billion 0.340% Next $5 billion 0.420% Next $1 billion 0.330% Next $10 billion 0.390% Next $1 billion 0.320% Next $10 billion 0.370% Next $1 billion 0.310% Next $16 billion 0.360% Next $2 billion 0.350% Next $2 billion 0.340% Next $5 billion 0.330% Next $10 billion 0.320% Next $10 billion 0.310% Next $16 billion 0.305% Next $30 billion 0.300% Next $40 billion 0.295% Thereafter The Price Funds shall include all the mutual funds distributed by T. Xxxx Rowe Price Investment ServicesInvestmenx Xxxxxces, Inc., Inc. (other than institutional, institutional or "private label, or index " funds, Equity Index, and the Spectrum Funds and Reserve Investment Funds). For the purpose purposes of calculating the Daily Price Funds' Group Fee Accrual for any particular day, the net assets of each Price Fund shall be determined in accordance with the prospectus, on behalf of the Fund, 's prospectus as of the close of business on the previous business day on which the Fund was open for business.

Group Fee. The monthly Group Fee ("Monthly Group Fee") shall be the sum of the daily Group Fee accruals ("Daily Group Fee Accruals") for each month. The Daily Group Fee Accrual for any particular day will be computed by multiplying the Price Funds' group fee accrual as determined below ("Daily Price Funds' Group Fee Accrual") by the ratio of the Fund's net assets for that day to the sum of the aggregate net assets of the Price Funds for that day. The Daily Price Funds' Group Fee Accrual for any particular day shall be calculated by multiplying the fraction of one (1) over the number of calendar days in the year by the annualized Daily Price Funds' Group Fee Accrual for that day as determined in accordance with the following schedule: Price Funds' Annual Group Base Fee Rate for Each Level of Assets ______________________________________ 0.480% First $1 billion 0.450% Next $1 billion 0.420% Next $1 billion 0.390% Next $1 billion 0.370% Next $1 billion 0.360% Next $2 billion 0.350% Next $2 billion 0.340% Next $5 billion 0.330% Next $10 billion 0.320% Next $10 billion 0.310% Next $16 billion 0.305% Next $30 billion 0.300% Next $40 billion 0.295% Thereafter The Price Funds shall include all the mutual funds distributed by T. Xxxx Price Investment Services, Inc., (other than institutional, excluding institutional or private label, or index label mutual funds, Spectrum Funds and Reserve Investment Funds). For the purpose of calculating the Daily Price Funds' Group Fee Accrual for any PAGE 6 particular day, the net assets of each Price Fund shall be determined in accordance with the prospectus, on behalf of the Fund, 's prospectus as of the close of business on the previous business day on which the Fund was open for business.

Group Fee. The monthly Group Fee ("Monthly Group Fee") shall be the sum of the daily Group Fee accruals ("Daily Group Fee Accruals") for each month. The Daily Group Fee Accrual for any particular day will be computed by multiplying the Price Funds' Funds group fee accrual as determined below ("Daily Price Funds' Funds Group Fee Accrual") by the ratio of the Fund's Fund s net assets for that day to the sum of the aggregate net assets of the Price Funds for that day. The Daily Price Funds' Funds Group Fee Accrual for any particular day shall be calculated by multiplying the fraction of one (1) over the number of calendar days in the year by the annualized Daily Price Funds' Funds Group Fee Accrual for that day as determined in accordance with the following schedule: Price Funds' Funds Annual Group Base Fee Rate for Each Level of Assets ______________________________________ 0.480% First $1 billion 0.450% Next $1 billion 0.420% Next $1 billion 0.390% Next $1 billion 0.370% Next $1 billion 0.360% Next $2 billion 0.350% Next $2 billion 0.340% Next $5 billion 0.330% Next $10 billion 0.320% Next $10 billion 0.310% Next $16 billion 0.305% Next $30 billion 0.300% Next $40 billion 0.295% Thereafter The Price Funds shall include all the mutual funds distributed by T. Xxxx Price Investment Services, Inc., Inc. (other than institutional, institutional or "private label, or index " funds, Equity Index, and the Spectrum Funds and Reserve Investment Funds). For the purpose purposes of calculating the Daily Price Funds' Funds Group Fee Accrual for any particular day, the net assets of each Price Fund shall be determined in accordance with the prospectus, on behalf of the Fund, Fund s prospectus as of the close of business on the previous business day on which the Fund was open for business.

Group Fee. The monthly Group Fee ("Monthly Group Fee") shall be the sum of the daily Group Fee accruals ("Daily Group Fee Accruals") for each month. The Daily Group Fee Accrual for any particular day will be computed by multiplying the Price Funds' group fee accrual as determined below ("Daily Price Funds' Group Fee Accrual") by the ratio of the Fund's net assets for that day to the sum of the aggregate net assets of the Price Funds for that day. The Daily Price Funds' Group Fee Accrual for any particular day shall be calculated by multiplying the fraction of one (1) over the number of calendar days in the year by the annualized Daily Price Funds' Group Fee Accrual for that day as determined in accordance with the following schedule: Price Funds' Annual Group Base Fee Rate for Each Level of Assets ___________________________________________ 0.480% First $1 billion 0.450% Next $1 billion 0.420% Next $1 billion 0.390% Next $1 billion 0.370% Next $1 billion PAGE 6 0.360% Next $2 billion 0.350% Next $2 billion 0.340% Next $5 billion 0.330% Next $10 billion 0.320% Next $10 billion 0.310% Next $16 billion 0.305% Next $30 billion 0.300% Next $40 billion 0.295% Thereafter The Price Funds shall include all the mutual funds distributed by T. X. Xxxx Price Investment Services, Inc., (other than institutional, excluding institutional or private label, or index label mutual funds, Spectrum Funds and Reserve Investment Funds). For the purpose of calculating the Daily Price Funds' Group Fee Accrual for any particular day, the net assets of each Price Fund shall be determined in accordance with the prospectus, on behalf of the Fund, 's prospectus as of the close of business on the previous business day on which the Fund was open for business.

Group Fee. The monthly Group Fee ("Monthly Group Fee") shall be the sum of the daily Group Fee accruals ("Daily Group Fee Accruals") for each month. The Daily Group Fee Accrual for any particular day will be computed by multiplying the Price Funds' group fee accrual as determined below ("Daily Price Funds' Group Fee Accrual") by the ratio of the Fund's net assets for that day to the sum of the aggregate net assets of the Price Funds for that day. The Daily Price Funds' Group Fee Accrual for any particular day shall be calculated by multiplying the fraction of one (1) over the number of calendar days in the year by the annualized Daily Price Funds' Group Fee Accrual for that day as determined in accordance with the following schedule: Price Funds' Annual Group Base Fee Rate for Each Level of Assets ______________________________________ 0.480% First $1 billion 0.450% Next $1 billion 0.420% Next $1 billion 0.390% Next $1 billion 0.370% Next $1 billion 0.360% Next $2 billion 0.350% Next $2 billion 0.340% Next $5 billion 0.330% Next $10 billion 0.320% Next $10 billion 0.310% Next $16 billion 0.305% Next $30 billion 0.300% Next $40 billion 0.295% Thereafter The Price Funds shall include all the mutual funds distributed by T. Xxxx Price Investment Rowe Prixx Xxxxstment Services, Inc., (other than institutional, excluding institutional or private label, or index label mutual funds, Spectrum Funds and Reserve Investment Funds). For the purpose of calculating the Daily Price Funds' Group Fee Accrual for any particular day, the net assets of each Price Fund shall be determined in accordance with the prospectus, on behalf of the Fund, as of the close of business on the previous business day on which the Fund was open for business.any

Group Fee. The monthly Group Fee ("Monthly Group Fee") shall be the sum of the daily Group Fee accruals ("Daily Group Fee Accruals") for each month. The Daily Group Fee Accrual for any particular day will be computed by multiplying the Price Funds' group fee accrual as determined below ("Daily Price Funds' Group Fee Accrual") by the ratio of the Fund's net assets for that day to the sum of the aggregate net assets of the Price Funds for that day. The Daily Price Funds' Group Fee Accrual for any particular day shall be calculated by multiplying the fraction of one (1) over the number of calendar days in the year by the annualized Daily Price Funds' Group Fee Accrual for that day as determined in accordance with the following schedule: Price Funds' Funds Annual Group Base Fee Rate for Each Level of Assets ______________________________________ 0.480% First $1 billion 0.450% Next $1 billion 0.420% Next $1 billion 0.390% Next $1 billion 0.370% Next $1 billion 0.360% Next $2 billion 0.350% Next $2 billion 0.340% Next $5 billion 0.330% Next $10 billion 0.320% Next $10 billion 0.310% Next $16 billion 0.305% Next $30 billion 0.300% Next $40 billion 0.295% Thereafter The Price Funds shall include all the mutual funds distributed by T. X. Xxxx Price Investment Services, Inc., (other than institutional, institutional or "private label" funds, or index funds, Spectrum Funds and Reserve Investment Funds). For the purpose purposes of calculating the Daily Price Funds' Group Fee Accrual for any particular day, the net assets of each Price Fund shall be determined in accordance with the Fund's prospectus, on behalf of the Fund, as of the close of business on the previous business day on which the Fund was open for business.

Group Fee. The monthly Group Fee ("Monthly Group Fee") shall be the sum of the daily Group Fee accruals ("Daily Group Fee Accruals") for each month. The Daily Group Fee Accrual for any particular day will be computed by multiplying the Price Funds' group fee accrual as determined below ("Daily Price Funds' Group Fee Accrual") by the ratio of the Fund's net assets for that day to the sum of the aggregate net assets of the Price Funds for that day. The Daily Price Funds' Group Fee Accrual for any particular day shall be calculated by multiplying the fraction of one (1) over the number of calendar days in the year by the annualized Daily Price Funds' Group Fee Accrual for that day as determined in accordance with the following schedule: Price Funds' Funds Annual Group Base Fee Rate for Each Level of Assets ________________________________________ 0.480% First $1 billion PAGE 27 0.450% Next $1 billion 0.420% Next $1 billion 0.390% Next $1 billion 0.370% Next $1 billion 0.360% Next $2 billion 0.350% Next $2 billion 0.340% Next $5 billion 0.330% Next $10 billion 0.320% Next $10 billion 0.310% Next $16 billion 0.305% Next $30 billion 0.300% Next $40 billion 0.295% Thereafter The Price Funds shall include all the mutual funds distributed by T. Xxxx Rowe Price Investment ServicesInvestmenx Xxxxxces, Inc., (other than institutional, excluding institutional or private label, or index label mutual funds, Spectrum Funds and Reserve Investment Funds). For the purpose of calculating the Daily Price Funds' Group Fee Accrual for any particular day, the net assets of each Price Fund shall be determined in accordance with the prospectus, on behalf of the Fund, 's prospectus as of the close of business on the previous business day on which the Fund was open for business.

Group Fee. The monthly Group Fee ("Monthly Group Fee") shall be the sum of the daily Group Fee accruals ("Daily Group Fee Accruals") for each month. The Daily Group Fee Accrual for any particular day will be computed by multiplying the Price Funds' group fee accrual as determined below ("Daily Price Funds' Group Fee Accrual") by the ratio of the Fund's net assets for that day to the sum of the aggregate net assets of the Price Funds for that day. The Daily Price Funds' Group Fee Accrual for any particular day shall be calculated by multiplying the fraction of one (1) over the number of calendar days in the year by the annualized Daily Price Funds' Group Fee Accrual for that day as determined in accordance with the following schedule: Price Funds' Annual Group Base Fee Rate for Each Level of Assets ______________________________________ 0.480% First $1 billion 0.450% Next $1 billion 0.420% Next $1 billion 0.390% Next $1 billion 0.370% Next $1 billion 0.360% Next $2 billion 0.350% Next $2 billion 0.340% Next $5 billion 0.330% Next $10 billion 0.320% Next $10 billion 0.310% Next $16 billion 0.305% Next $30 billion 0.300% Next $40 billion 0.295% Thereafter The Price Funds shall include all the mutual funds distributed by T. X. Xxxx Price Investment Services, Inc., (other than institutional, excluding institutional or private label, or index label mutual funds, Spectrum Funds and Reserve Investment Funds). For the purpose of calculating the Daily Price Funds' Group Fee Accrual for any particular day, the net assets of each Price Fund shall be determined in accordance with the prospectus, on behalf of the Fund, 's prospectus as of the close of business on the previous business day on which the Fund was open for business.