Common use of Subsequent to Termination Clause in Contracts

Subsequent to Termination. The Advisor agrees to reduce the fee payable to it under this Agreement by the amount by which the ordinary operating expenses of the Company for any fiscal year of the Company shall exceed the annual rate of 1.25% of the Series' average daily net assets. Costs incurred in connection with the purchase or sale of portfolio securities, including brokerage fees and commissions, which are capitalized in accordance with generally accepted accounting principles applicable to investment companies, shall be accounted for as capital items and not as expenses. Proper accruals shall be made by the Company for any projected reduction hereunder and corresponding amounts shall be withheld from the fees paid by the Company to the Advisor. Any additional reduction computed at the end of the fiscal year shall be deducted from the fee for the last month of such fiscal year.

Subsequent to Termination. The Advisor agrees to reduce the fee payable to it under this Agreement by the amount by which the ordinary operating expenses of the Company for any fiscal year of the Company shall exceed the annual rate of 1.251.40% of the Series' average daily net assets. Costs incurred in connection with the purchase or sale of portfolio securities, including brokerage fees and commissions, which are capitalized in accordance with generally accepted accounting principles applicable to investment companies, shall be accounted for as capital items and not as expenses. Proper accruals shall be made by the Company for any projected reduction hereunder and corresponding amounts shall be withheld from the fees paid by the Company to the Advisor. Any additional reduction computed at the end of the fiscal year shall be deducted from the fee for the last month of such fiscal year.

Subsequent to Termination. The Advisor agrees to reduce the fee payable to it under this Agreement by the amount by which the ordinary operating expenses of the Company for any fiscal year of the Company shall exceed the annual rate of 1.251.50% of the Series' average daily net assets. Costs incurred in connection with the purchase or sale of portfolio securities, including brokerage fees and commissions, which are capitalized in accordance with generally accepted accounting principles applicable to investment companies, shall be accounted for as capital items and not as expenses. Proper accruals shall be made by the Company for any projected reduction hereunder and corresponding amounts shall be withheld from the fees paid by the Company to the Advisor. Any additional reduction computed at the end of the fiscal year shall be deducted from the fee for the last month of such fiscal year.