Common use of Administrative Service Fee Clause in Contracts

Administrative Service Fee. For the services rendered by IFS in its capacity as administrator, each Fund will pay to IFS a monthly administrative services fee of 0.150% of the Fund’s average daily net assets on an annual basis for the Fund’s first $50 million of average daily net assets, 0.125% of the Fund’s average daily net assets on an annual basis for the Fund’s next $50 million of average daily net assets, 0.100% of the Fund’s average daily net assets on an annual basis for the Fund’s next $100 million of average daily net assets, 0.075% of the Fund’s average daily net assets on an annual basis for the Fund’s next $300 million of average daily net assets, and 0.050% of the Fund’s average daily net assets on an annual basis for the Fund’s average daily net assets in excess of $500 million, together with reimbursement of out-of-pocket expenses. Each Fund will pay to IFS at the end of each calendar month a minimum administrative services fee of $2,000 per month and an additional fee of $500 per month will be charged by IFS for each additional share class.

Administrative Service Fee. For the services rendered by IFS in its capacity as administrator, each Fund will pay to IFS a monthly administrative services fee of 0.150% of the Fund’s 's average daily net assets on an annual basis for the Fund’s 's first $50 million of average daily net assets, 0.125% of the Fund’s 's average daily net assets on an annual basis for the Fund’s 's next $50 million of average daily net assets, 0.100% of the Fund’s 's average daily net assets on an annual basis for the Fund’s 's next $100 million of average daily net assets, 0.075% of the Fund’s 's average daily net assets on an annual basis for the Fund’s 's next $300 million of average daily net assets, and 0.050% of the Fund’s 's average daily net assets on an annual basis for the Fund’s 's average daily net assets in excess of $500 million, together with reimbursement of out-of-pocket expenses. Each Fund will pay to IFS at the end of each calendar month a minimum administrative services fee of $2,000 per month and an additional fee of $500 per month will be charged by IFS for each additional share class.