Common use of Management and Investment Advisory Fee Clause in Contracts

Management and Investment Advisory Fee. For the services rendered, the facilities furnished and expenses assumed by the Manager, each Fund shall pay to the Manager at the end of each calendar month a fee, commencing on the day following effectiveness hereof, based upon the average daily value of the net assets of such Fund, as determined and computed in accordance with the description of the determination of net asset value contained in the relevant Prospectus and Statement of Additional Information. The fee payable by each Fund is set forth on Schedule A hereto. If this Agreement becomes effective subsequent to the first day of a month or shall terminate before the last day of a month, compensation for that part of the month that this Agreement is in effect shall be prorated in a manner consistent with the calculation of the fee as set forth above. Subject to the provisions of subsection (b) hereof, payment of the Manager's compensation for the preceding month shall be made as promptly as possible after completion of the computations contemplated by subsection (b) hereof. During any period when the determination of net asset value is suspended by the Directors, the net asset value of a share as of the last business day prior to such suspension shall for this purpose be deemed to be the net asset value at the close of each succeeding business day until it is again determined.

Management and Investment Advisory Fee. For the services rendered, the facilities furnished and expenses assumed by FAM, the Manager, each Fund shall pay to the Manager FAM at the end of each calendar month a fee, commencing fee based on the day following effectiveness hereof, based upon the average daily value of the net assets of such the Fund, as determined and computed in accordance with the description of the determination of net asset value contained in the relevant Prospectus and Statement of Additional Information. The fee payable by each Fund is set forth , at the annual rate of 0.75% of the average daily net assets of the Fund, commencing on Schedule A heretothe day following the date hereof. If this Agreement becomes effective subsequent to the first day of a month or shall terminate before the last day of a month, compensation for that part of the month that this Agreement is in effect shall be prorated in a manner consistent with the calculation of the fee as set forth above. Subject to the provisions of subsection (b) hereof, payment of the ManagerFAM's compensation for the preceding month shall be made as promptly as possible after completion of the computations contemplated by subsection (b) hereof. During any period when the determination of net asset value is suspended by the Directors, the net asset value of a share as of the last business day prior to such suspension shall for this purpose be deemed to be the net asset value at the close of each succeeding business day until it is again determined.