Common use of Variable Fee Clause in Contracts

Variable Fee. The variable fee (the "Variable Fee") shall be calculated based on average daily net assets under management ("AUM") of all Funds sub-advised by the Sub-Adviser as follows: $0 - $500,000,000 5 Greater than $500,000,000 3

Variable Fee. The variable fee (the "“Variable Fee"”) shall be calculated based on average daily net assets under management ("“AUM"”) of all Funds sub-advised by the Sub-Adviser cumulatively as follows: $0 - $500,000,000 5 Greater than 250,000,000 4 $250,000,001 - $500,000,000 33 $500,000,001 - $1,000,000,000 2 > $1,000,000,001 1 Payment of the Variable Fee to the Sub-Adviser will be deferred for the initial six months after the Inception Date of the first Fund that is launched.

Variable Fee. The variable fee (the "“Variable Fee"”) shall be calculated based on average daily net assets under management ("“AUM"”) of all Funds sub-advised by the Sub-Adviser as follows: $0 - $500,000,000 5 Greater than $500,000,000 3