Common use of PERFORMANCE BENCHMARK Clause in Contracts

PERFORMANCE BENCHMARK. The market benchmark for measuring investment performance for the Adviser is the IBC ALL TAXABLE INSTITUTIONAL MONEY FUND AVERAGE. The Adviser is expected to outperform the benchmark net of Adviser fees over rolling one-, three-, and five-year periods. Investment Guidelines -- Payden&Rygel:Money Market -- November 20, 2000 SCHEDULE B-2 VANTAGEPOINT INCOME PRESERVATION FUND INVESTMENT GUIDELINES FOR PAYD▇▇ & ▇YGEL INVESTMENT COUNSEL ENHANCED CASH MANDATE

PERFORMANCE BENCHMARK. The market benchmark for measuring investment performance for the Adviser is the IBC ALL TAXABLE INSTITUTIONAL MONEY FUND AVERAGEAverage. The Adviser is expected to outperform the benchmark net of Adviser fees over rolling one-, three-, and five-year periods. Investment Guidelines -- Payden&Rygel:Money Market -- November 20, 2000 SCHEDULE B-2 VANTAGEPOINT INCOME PRESERVATION FUND INVESTMENT GUIDELINES FOR PAYD▇▇ & ▇YGEL INVESTMENT COUNSEL ENHANCED CASH MANDATE.