Common use of Performance Adjustment Rate Clause in Contracts

Performance Adjustment Rate. Except as otherwise provided in sub-paragraph (e) of this paragraph 3, the Performance Adjustment Rate is 0.02% for each percentage point (the performance of the Portfolio and the Index each being calculated to the nearest 0.01%) that the Portfolio's investment performance for the performance period was better or worse than the record of the Index as then constituted. The maximum performance adjustment rate is 0.20%. For purposes of calculating the performance adjustment of the Portfolio, the Portfolio's investment performance will be based on the performance of Institutional Class. The performance period will commence with the effective date of this contract. During the first eleven months of the performance period for the Portfolio, there will be no performance adjustment. Starting with the twelfth month of the performance period, the performance adjustment will take effect. Following the twelfth month a new month will be added to the performance period until the performance period equals 36 months. Thereafter the performance period will consist of the current month plus the previous 35 months. The Portfolio's investment performance will be measured by comparing (i) the opening net asset value of one share of Institutional Class of the Portfolio on the first business day of the performance period with (ii) the closing net asset value of one share of Institutional Class of the Portfolio as of the last business day of such period. In computing the investment performance of Institutional Class of the Portfolio and the investment record of the Index, distributions of realized capital gains, the value of capital gains taxes per share paid or payable on undistributed realized long-term capital gains accumulated to the end of such period and dividends paid out of investment income on the part of Institutional Class of the Portfolio, and all cash distributions of the securities included in the Index, will be treated as reinvested in accordance with Rule 205-1 or any other applicable rules under the Investment Advisers Act of 1940, as the same from time to time may be amended.

Performance Adjustment Rate. Except as otherwise provided in sub-paragraph (e) of this paragraph 3, the Performance Adjustment Rate is 0.02% for each percentage point (the performance of the Portfolio and the Index each being calculated to the nearest 0.01%) that the Portfolio's investment performance for the performance period was better or worse than the record of the Index as then constituted. The maximum performance adjustment rate is 0.20%. For purposes of calculating the performance adjustment of the Portfolio, the Portfolio's investment performance will be based on the performance of Institutional Class. The performance period will commence with the effective date of this contractcommenced on July 1, 2007. During the first eleven months of the performance period for the Portfolio, there will be no performance adjustment. Starting with the twelfth month of the performance period, the performance adjustment will take effect. Following the twelfth month a new month will be added to the performance period until the performance period equals 36 months. Thereafter the performance period will consist of the current month plus the previous 35 months. The Portfolio's investment performance will be measured by comparing (i) the opening net asset value of one share of Institutional Class of the Portfolio on the first business day of the performance period with (ii) the closing net asset value of one share of Institutional Class of the Portfolio as of the last business day of such period. In computing the investment performance of Institutional Class of the Portfolio and the investment record of the Index, distributions of realized capital gains, the value of capital gains taxes per share paid or payable on undistributed realized long-term capital gains accumulated to the end of such period and dividends paid out of investment income on the part of Institutional Class of the Portfolio, and all cash distributions of the securities included in the Index, will be treated as reinvested in accordance with Rule 205-1 or any other applicable rules under the Investment Advisers Act of 1940, as the same from time to time may be amended.

Performance Adjustment Rate. Except as otherwise provided in sub-paragraph (e) of this paragraph 3, the Performance Adjustment Rate is 0.02% for each percentage point (the performance of the Portfolio and the Index each being calculated to the nearest 0.01%) that the Portfolio's investment performance for the performance period was better or worse than the record of the Index as then constituted. The maximum performance adjustment rate is 0.20%. For purposes of calculating the performance adjustment of the Portfolio, the Portfolio's investment performance will be based on the performance of Institutional Class. The performance period will commence with the effective date of this contractcommenced on June 1, 2007. During the first eleven months of the performance period for the Portfolio, there will be no performance adjustment. Starting with the twelfth month of the performance period, the performance adjustment will take effect. Following the twelfth month a new month will be added to the performance period until the performance period equals 36 months. Thereafter the performance period will consist of the current month plus the previous 35 months. The Portfolio's investment performance will be measured by comparing (i) the opening net asset value of one share of Institutional Class of the Portfolio on the first business day of the performance period with (ii) the closing net asset value of one share of Institutional Class of the Portfolio as of the last business day of such period. In computing the investment performance of Institutional Class of the Portfolio and the investment record of the Index, distributions of realized capital gains, the value of capital gains taxes per share paid or payable on undistributed realized long-term capital gains accumulated to the end of such period and dividends paid out of investment income on the part of Institutional Class of the Portfolio, and all cash distributions of the securities included in the Index, will be treated as reinvested in accordance with Rule 205-1 or any other applicable rules under the Investment Advisers Act of 1940, as the same from time to time may be amended.

Performance Adjustment Rate. Except as otherwise provided in sub-paragraph (e) of this paragraph 3, the Performance Adjustment Rate is 0.02% for each percentage point (the performance of the Portfolio and the Index each being calculated to the nearest 0.01%) that the Portfolio's investment performance for the performance period was better or worse than the record of the Index as then constituted. The maximum performance adjustment rate is 0.20%. For purposes of calculating the performance adjustment of the Portfolio, the Portfolio's investment performance will be based on the performance of Institutional Classthe retail class. The performance period will commence with the effective date of this contract. During the first eleven months of the performance period for the Portfolio, there will be no performance adjustment. Starting with the twelfth month of the performance period, the performance adjustment will take effect. Following the twelfth month a new month will be added to the performance period until the performance period equals 36 months. Thereafter the performance period will consist of the current month plus the previous 35 months. The Portfolio's investment performance will be measured by comparing (i) the opening net asset value of one share of Institutional Class the retail class of the Portfolio on the first business day of the performance period with (ii) the closing net asset value of one share of Institutional Class the retail class of the Portfolio as of the last business day of such period. In computing the investment performance of Institutional Class the retail class of the Portfolio and the investment record of the Index, distributions of realized capital gains, the value of capital gains taxes per share paid or payable on undistributed realized long-term capital gains accumulated to the end of such period and dividends paid out of investment income on the part of Institutional Class the retail class of the Portfolio, and all cash distributions of the securities included in the Index, will be treated as reinvested in accordance with Rule 205-1 or any other applicable rules under the Investment Advisers Act of 1940, as the same from time to time may be amended.

Performance Adjustment Rate. Except as otherwise provided in sub-paragraph (e) of this paragraph 3, the Performance Adjustment Rate is 0.02% for each percentage point (the performance of the Portfolio and the Index each being calculated to the nearest 0.01%) .01% that the Portfolio's investment performance for the performance period was better or worse than the record of the Index as then constituted. The maximum performance adjustment rate is 0.20%. For purposes of calculating the performance adjustment of the Portfolio, the Portfolio's investment performance will be based on the performance of Institutional Classthe retail class. The performance period will commence with the effective date of this contracton December 1, 1984. During the first eleven months of the performance period for the Portfolioretail class, there will be no performance adjustment. Starting with the twelfth month of the performance period, the performance adjustment will take effect. Following the twelfth month a new month will be added to the performance period until the performance period equals 36 months. Thereafter the performance period will consist of the current month plus the previous 35 months. The Portfolio's investment performance will be measured by comparing (i) the opening net asset value of one share of Institutional Class the retail class of the Portfolio on the first business day of the performance period with (ii) the closing net asset value of one share of Institutional Class the retail class of the Portfolio as of the last business day of such period. In computing the investment performance of Institutional Class the retail class of the Portfolio and the investment record of the Index, distributions of realized capital gains, the value of capital gains taxes per share paid or payable on undistributed realized long-term capital gains accumulated to the end of such period and dividends paid out of investment income on the part of Institutional Class of the Portfolio, and all cash distributions of the securities included in the Index, will be treated as reinvested in accordance with Rule 205-1 or any other applicable rules under the Investment Advisers Act of 1940, as the same from time to time may be amended.

Performance Adjustment Rate. Except as otherwise provided in sub-paragraph (e) of this paragraph 31, the Performance Adjustment Rate is 0.02% for each percentage point (the performance of the Portfolio Fund and the Index each being calculated to the nearest 0.01%) that the Portfolio's Fund’s investment performance for the performance period was better or worse than the record of the Index as then constituted. The maximum performance adjustment rate is 0.20%. For purposes of calculating the performance adjustment of the PortfolioFund, the Portfolio's Fund’s investment performance will be based on the performance of Institutional Class. The performance period will commence with the effective date of this contracton October 1, 2017. During the first eleven months of the performance period for the PortfolioFund, there will be no performance adjustment. Starting with the twelfth month of the performance period, the performance adjustment will take effect. Following the twelfth month a new month will be added to the performance period until the performance period equals 36 months. Thereafter the performance period will consist of the current month plus the previous 35 months. The Portfolio's Fund’s investment performance will be measured by comparing (i) the opening net asset value of one share of Institutional Class of the Portfolio Fund on the first business day of the performance period with (ii) the closing net asset value of one share of Institutional Class of the Portfolio Fund as of the last business day of such period. In computing the investment performance of Institutional Class of the Portfolio Fund and the investment record of the Index, distributions of realized capital gains, the value of capital gains taxes per share paid or payable on undistributed realized long-–term capital gains accumulated to the end of such period and dividends paid out of investment income on the part of Institutional Class of the PortfolioFund, and all cash distributions of the securities included in the Index, will be treated as reinvested in accordance with Rule 205-1 205–1 or any other applicable rules under the Investment Advisers Act of 1940, as the same from time to time may be amended.

Performance Adjustment Rate. Except as otherwise provided in sub-paragraph (e) of this paragraph 31, the Performance Adjustment Rate is 0.02% for each percentage point (the performance of the Portfolio Fund and the Index each being calculated to the nearest 0.01%) that the Portfolio's Fund’s investment performance for the performance period was better or worse than the record of the Index as then constituted. The maximum performance adjustment rate is 0.20%. For purposes of calculating the performance adjustment of the PortfolioFund, the Portfolio's Fund’s investment performance will be based on the performance of Institutional Class. The performance period will commence with the effective date of this contracton October 1, 2017. During the first eleven months of the performance period for the PortfolioFund, there will be no performance adjustment. Starting with the twelfth month of the performance period, the performance adjustment will take effect. Following the twelfth month a new month will be added to the performance period until the performance period equals 36 months. Thereafter the performance period will consist of the current month plus the previous 35 months. The Portfolio's Fund’s investment performance will be measured by comparing (i) the opening net asset value of one share of Institutional Class of the Portfolio Fund on the first business day of the performance period with (ii) the closing net asset value of one share of Institutional Class of the Portfolio Fund as of the last business day of such period. In computing the investment performance of Institutional Class of the Portfolio Fund and the investment record of the Index, distributions of realized capital gains, the value of capital gains taxes per share paid or payable on undistributed realized long-–term capital gains accumulated to the end of such period and dividends paid out of investment income on the part of Institutional Class of the PortfolioFund, and all cash distributions of the securities included in the Index, will be treated as reinvested in accordance with Rule 205-1 or any other applicable rules under the Investment Advisers Act of 1940, as the same from time to time may be amended.

Performance Adjustment Rate. Except as otherwise provided in sub-paragraph (e) of this paragraph 31, the Performance Adjustment Rate is 0.02% for each percentage point (the performance of the Portfolio Fund and the Index each being calculated to the nearest 0.01%) that the Portfolio's Fund’s investment performance for the performance period was better or worse than the record of the Index as then constituted. The maximum performance adjustment rate is 0.20%. For purposes of calculating the performance adjustment of the PortfolioFund, the Portfolio's Fund’s investment performance will be based on the performance of Institutional Class. The performance period will commence with the effective date of this contracton October 1, 2017. During the first eleven months of the performance period for the PortfolioFund, there will be no performance adjustment. Starting with the twelfth month of the performance period, the performance adjustment will take effect. Following the twelfth month a new month will be added to the performance period until the performance period equals 36 months. Thereafter the performance period will consist of the current month plus the previous 35 months. The Portfolio's Fund’s investment performance will be measured by comparing (i) the opening net asset value of one share of Institutional Class of the Portfolio Fund on the first business day of the performance period with (ii) the closing net asset value of one share of Institutional Class of the Portfolio Fund as of the last business day of such period. In computing the investment performance of Institutional Class of the Portfolio Fund and the investment record of the Index, distributions of realized capital gains, the value of capital gains taxes per share paid or payable on undistributed realized long-term capital gains accumulated to the end of such period and dividends paid out of investment income on the part of Institutional Class of the PortfolioFund, and all cash distributions of the securities included in the Index, will be treated as reinvested in accordance with Rule 205-1 or any other applicable rules under the Investment Advisers Act of 1940, as the same from time to time may be amended.

Performance Adjustment Rate. Except as otherwise provided in sub-paragraph (e) of this paragraph 3, the Performance Adjustment Rate is 0.02% for each percentage point (the performance of the Portfolio and the Index each being calculated to the nearest 0.01.01%) that the Portfolio's investment performance for the performance period was better or worse than the record of the Index as then constituted. The maximum performance adjustment rate is 0.20%. For purposes of calculating the performance adjustment of the Portfolioportfolio, the Portfolioportfolio's investment performance will be based on the performance of Institutional Classthe retail class. The performance period will commence with the effective date first day of this contractthe first full month following the Portfolio's commencement of operations. During the first eleven months of the performance period for the Portfolio, there will be no performance adjustment. Starting with the twelfth month of the performance period, the performance adjustment will take effect. Following the twelfth month a new month will be added to the performance period until the performance period equals 36 months. Thereafter the performance period will consist of the current month plus the previous 35 months. The Portfolio's investment performance will be measured by comparing (i) the opening net asset value of one share of Institutional Class of the Portfolio on the first business day of the performance period with (ii) the closing net asset value of one share of Institutional Class of the Portfolio as of the last business day of such period. In computing the investment performance of Institutional Class of the Portfolio and the investment record of the Index, distributions of realized capital gains, the value of capital gains taxes per share paid or payable on undistributed realized long-term capital gains accumulated to the end of such period and dividends paid out of investment income on the part of Institutional Class of the Portfolio, and all cash distributions of the securities included in the Index, will be treated as reinvested in accordance with Rule 205-1 or any other applicable rules under the Investment Advisers Act of 1940, as the same from time to time may be amended.

Performance Adjustment Rate. Except as otherwise provided in sub-paragraph (e) of this paragraph 31, the Performance Adjustment Rate is 0.02% for each percentage point (the performance of the Portfolio Fund and the Index each being calculated to the nearest 0.01%) that the Portfolio's Fund’s investment performance for the performance period was better or worse than the record of the Index as then constituted. The maximum performance adjustment rate is 0.20%. For purposes of calculating the performance adjustment of the PortfolioFund, the Portfolio's Fund’s investment performance will be based on the performance of Institutional Classthe retail class. The performance period will commence with the effective date of this contracton October 1, 2007. During the first eleven months of the performance period for the Portfolio, there will be no performance adjustment. Starting with the twelfth month of the performance period, the performance adjustment will take effect. Following the twelfth month a new month will be added to the performance period until the performance period equals 36 months. Thereafter the performance period will consist of the current month plus the previous 35 months. The Portfolio's Fund’s investment performance will be measured by comparing (i) the opening net asset value of one share of Institutional Class the retail class of the Portfolio Fund on the first business day of the performance period with (ii) the closing net asset value of one share of Institutional Class the retail class of the Portfolio Fund as of the last business day of such period. In computing the investment performance of Institutional Class the retail class of the Portfolio Fund and the investment record of the Index, distributions of realized capital gains, the value of capital gains taxes per share paid or payable on undistributed realized long-–term capital gains accumulated to the end of such period and dividends paid out of investment income on the part of Institutional Class the retail class of the PortfolioFund, and all cash distributions of the securities included in the Index, will be treated as reinvested in accordance with Rule 205-1 205–1 or any other applicable rules under the Investment Advisers Act of 1940, as the same from time to time may be amended.