COMPENSATION OF SMC Sample Clauses

COMPENSATION OF SMC. (a) As compensation for the services to be rendered by SMC to Equity Series and Global Series as provided for herein, for each of the years this Agreement is in effect, the Fund shall pay SMC an annual fee equal to (1) 2 percent of the first $10 million of the average daily net assets, 1 1/2 percent of the next $20 million of the average daily net assets, and 1 percent of the remaining average daily net assets of the Equity Series of the Fund for any fiscal year, and (2) 2 percent of the first $70 million of the average daily net assets and 1 1/2 percent of the remaining average daily net assets of the Global Series of the Fund for any fiscal year. Such fees shall be determined daily and payable monthly. As compensation for the investment advisory services to be rendered by SMC to Asset Allocation Series and to Social Awareness Series, for each of the years this agreement is in effect, each of the Asset Allocation Series and Social Awareness Series shall pay SMC an annual fee equal to 1% of their respective average daily net assets. Such fee shall be calculated daily and payable monthly. As compensation for the administrative services to be rendered by SMC to Asset Allocation Series, the Asset Allocation Series shall pay SMC an annual fee equal to .045% of the average daily net assets of Asset Allocation Series, plus the greater of .10% of its average daily net assets or (i) $30,000 in the year ending April 29, 1996; (ii) $45,000 in the year ending April 29, 1997, and (iii) $60,000 thereafter. Such fee shall be calculated daily and payable monthly. As compensation for the administrative services to be rendered by SMC to Social Awareness Series, the Social Awareness Series shall pay SMC an annual fee equal to .09% of the average daily net assets of the Social Awareness Series. Such fee shall be calculated daily and payable monthly. If this Agreement shall be effective for only a portion of a year, then SMC's compensation for said year shall be prorated for such portion. For purposes of this Section 3, the value of the net assets of each Series shall be computed in the same manner at the end of the business day as the value of such net assets is computed in connection with the determination of the net asset value of the Fund's shares as described in the Fund's prospectus. For transfer agency services provided by SMC to Asset Allocation Series and to Social Awareness Series, each such Series shall pay a Maintenance Fee of $8.00 per account, a Transaction Fee ...
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COMPENSATION OF SMC. (a) In consideration of the services to be rendered by SMC pursuant to this Agreement, the Fund shall pay SMC an annual fee equal to 2% of the first $10 million of the average net assets of the Fund, and 1 1/2% of the next $20 million of the average net assets, and 1% of the remaining average net assets of the Fund for any fiscal year, determined and payable monthly. If this Agreement shall be effective for only a portion of a year in which a fee is owed, then SMC's compensation for the year shall be prorated for such portion. For purposes of this Section 3, the value of the net assets of the Fund shall be computed in the same manner as the value of such net assets is computed in connection with the determination of the net asset value of the shares of the Fund as described in the Fund's Prospectus and Statement of Additional Information. (b) For each of the Fund's full fiscal years during which this Agreement remains in force, SMC agrees that if the total annual expenses of the Fund, exclusive of those expenses listed in paragraph 2(b) of this Agreement, but inclusive of SMC's compensation, exceed any expense limitation imposed by state securities law or regulation in any state in which shares of the Fund are then qualified for sale, as such regulations may be amended from time to time, SMC will contribute to the Fund such funds or waive that portion of its fee on a monthly basis as may be necessary to insure that its total expenses will not exceed any state limitation. If this paragraph of the Agreement shall be effective for only a portion of one of the Fund's fiscal years, then the maximum annual expenses shall be prorated for such portion.
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COMPENSATION OF SMC. (a) As compensation for the services to be rendered by SMC as provided for herein, for each of the years this Agreement is in effect, the Fund shall pay SMC an annual fee equal to 2 percent of the first $10 million of the average net assets, 1 1/2percent of the next $20 million of the average net assets, and 1 percent of the remaining average net assets of the Equity Series of the Fund for any fiscal year, and 2 percent of the first $70 million of the average net assets and 1 1/2 percent of the remaining average net assets of the Global Series of the Fund for any fiscal year. Such fees shall be determined and payable monthly. If this Agreement shall be effective for only a portion of a year, then SMC's compensation for said year shall be prorated for such portion. For purposes of this Section 3, the value of the net assets of each such Series shall be computed in the same manner at the end of the business day as the value of such net assets is computed in connection with the determination of the net asset value of the Fund's shares as described in the Fund's prospectus. (b) For each of the Fund's fiscal years this Agreement remains in force, SMC agrees that if total annual expenses of any Series of the Fund, exclusive of interest and taxes, extraordinary expenses (such as litigation) and distribution fees paid under the Fund's Class B Distribution Plan, but inclusive of SMC's compensation, exceed any expense limitation imposed by state securities law or regulation in any state in which shares of such Series of the Fund are then qualified for sale, as such regulations may be amended from time to time, SMC will contribute to such Series such funds or waive such portion of its fee, adjusted monthly, as may be requisite to insure that such annual expenses will not exceed any such limitation. If this Agreement shall be effective for only a portion of any Series' fiscal years, then the maximum annual expenses shall be prorated for such
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COMPENSATION OF SMC. (a) As compensation for the services to be rendered by SMC to Equity Series and Global Series as provided for herein, for each of the years this Agreement is in effect, the Fund shall pay SMC an annual fee equal to (1) 2 percent of the first $10 million of the average daily net assets, 1 1/2 percent of the next $20 million of the average daily net assets, and 1 percent of the remaining average daily net assets of the Equity Series of the Fund for any fiscal year, and (2) 2 percent of the first $70 million of the average daily net assets and 1 1/2 percent of the remaining average daily net assets of the Global Series of the Fund for any fiscal year. Such fees shall be determined daily and payable monthly. As compensation for the investment advisory services to be rendered by SMC to Asset Allocation Series, for each of the years this agreement is in effect, the Asset Allocation Series shall pay SMC an annual fee equal to 1% of the average daily net assets of the Asset Allocation Series. As compensation for the administrative services to be rendered by SMC to Asset Allocation Series, the Asset Allocation Series shall pay SMC an annual fee equal to .045% of the average daily net assets of Asset Allocation Series, plus the greater of .10% of its average daily net assets or (i) $30,000 in the year ending April 29, 1996; (ii) $45,000 in the year ending April 29, 1997, and
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COMPENSATION OF SMC. For each of the Fund's fiscal years this Agreement remains in force, SMC agrees that if total annual expenses of the Fund, exclusive of interest and taxes, extraordinary expenses (such as litigation), distribution fees paid under the Fund's Class B, Class C, and Class S Distribution Plans, but inclusive of SMC's compensation, exceed any expense limitation imposed by state securities law or regulation in any state in which shares of the Fund are then qualified for sale, as such regulations may be amended from time to time, SMC will contribute to the Fund such funds or waive such portion of its fee, adjusted monthly, as may be requisite to insure that such annual expenses will not exceed any such limitation. If this Agreement shall be effective for only a portion of any fiscal year, then the maximum annual expenses shall be prorated for such portion. Brokerage fees and commissions incurred in connection with the purchase or sale of any securities by the Fund shall not be deemed to be expenses within the meaning of this paragraph (b).
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COMPENSATION OF SMC. (a) As compensation for the investment advisory services to be rendered by SMC to the Fund for each of the years this Agreement is in effect, the Fund shall pay SMC an annual fee equal to 0.75% of the Fund's average daily net assets. Such fee shall be calculated daily and payable monthly. As compensation for the administrative services to be rendered by SMC to the Fund, the Fund shall pay SMC an annual fee equal to 0.09% of its average daily net assets. Such fees shall be calculated daily and payable monthly. If this Agreement shall be effective for only a portion of a year, then SMC's compensation for said year shall be prorated for such portion. For purposes of this Section 3, the value of the net assets of the Fund shall be computed in the same manner at the end of the business day as the value of such net assets is computed in connection with the determination of the net asset value of the Fund's shares as described in the Fund's prospectus. For transfer agency services provided by SMC to the Fund, each Fund shall pay a Maintenance Fee of $8.00 per account, a Transaction Fee of $1.00 per transaction per account and a Dividend Fee of $1.00 per dividend per account. For the purpose of calculating the Maintenance, Transaction and Dividend Fees applicable to the Fund, SMC may count as a shareholder account each person that holds a beneficial interest in an omnibus account maintained on SMC's transfer agency system by a third-party administrator, broker/dealer, bank, insurance company or other entity; provided that SMC is paying such third-party administrator, broker/dealer, bank, insurance company or other entity sub-administrative, sub-accounting and/or sub-transfer agency fees for keeping individual shareholder records in connection with an investment in the Fund. (b) For each of the Fund's fiscal years that this Agreement remains in force, SMC agrees that if total annual expenses of the Fund, exclusive of interest and taxes, extraordinary expenses (such as litigation), distribution fees paid under the Fund's Class A, Class B, Class C and Class S Distribution Plans, but inclusive of SMC's compensation, exceed any expense limitation imposed by state securities law or regulation in any state in which shares of the Fund are then qualified for sale, as such regulations may be amended from time to time, SMC will contribute to the Fund such funds or waive such portion of its fee, adjusted monthly, as may be requisite to insure that such annual expenses will no...
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Related to COMPENSATION OF SMC

  • COMPENSATION OF ULTIMUS The Trust, on behalf of each Fund, shall pay for the services to be provided by Ultimus under this Agreement in accordance with, and in the manner set forth in, Schedule B attached hereto, as such Schedule may be amended from time to time. If this Agreement becomes effective subsequent to the first day of a month or terminates before the last day of a month, Ultimus’ compensation for that part of the month in which the Agreement is in effect shall be prorated in a manner consistent with the calculation of the fees as set forth above. Payment of Ultimus’ compensation for the preceding month shall be made promptly.

  • Compensation of OFI The Fund agrees to pay OFI and OFI agrees to accept as full compensation for the performance of all functions and duties on its part to be performed pursuant to the provisions hereof, a fee computed on the aggregate net assets of the Fund as of the close of each business day and payable monthly at the following annual rates:

  • Compensation of OFI GLOBAL The Fund agrees to pay OFI GLOBAL and OFI GLOBAL agrees to accept as full compensation for the performance of all functions and duties on its part to be performed pursuant to the provisions hereof, a management fee computed on the aggregate net asset value of the Fund as of the close of each business day and payable monthly at the following annual rates:

  • COMPENSATION OF SUBADVISER The Adviser will pay the Subadviser with respect to each Portfolio the compensation specified in Appendix A to this Agreement.

  • Compensation of Consultant Town agrees to pay to Consultant for satisfactory completion of all services included in this Agreement a total fee of Fifty Thousand ($50,000.00) for the Project as set forth and described in Exhibit B - Compensation Schedule and incorporated herein as if written word for word. Lump sum fees shall be billed monthly based on the percentage of completion. Hourly not to exceed fees shall be billed monthly based on hours of work that have been completed. Direct Costs for expenses such as mileage, copies, scans, sub- consultants, and similar costs are included in fees and shall be billed as completed. Consultant agrees to submit statements to Town for professional services no more than once per month. These statements will be based upon Consultant's actual services performed and reimbursable expenses incurred, if any, and Town shall endeavor to make prompt payments. Each statement submitted by Consultant to Town shall be reasonably itemized to show the amount of work performed during that period. If Town fails to pay Consultant within sixty (60) calendar days of the receipt of Consultant's invoice, Consultant may, after giving ten (10) days written notice to Town, suspend professional services until paid. Nothing contained in this Agreement shall require Town to pay for any work that is unsatisfactory as reasonably determined by Town or which is not submitted in compliance with the terms of this Agreement. The Scope of Services shall be strictly limited. Town shall not be required to pay any amount in excess of the original proposed amount unless Town shall have approved in writing in advance (prior to the performance of additional work) the payment of additional amounts.