Common use of Based Fees Clause in Contracts

Based Fees. At the Program level, the Account may be subject to a Program Management Fee and certain other asset-based fees. Such fees paid by the Account are received by the Program Manager, and there are no additional fees payable to the Council or to the State of South Dakota. The asset-based fees noted below for each class of Units are accrued daily and paid to the Program Manager monthly. The Program Manager has agreed to pay VA an asset based advisory fee in connection with the advisory services provided to the Program, and that fee is not a separate charge paid by the Investment Portfolios. Fee A SD-A1 C SD-C2 F3 Program Management Fee 0.25% None 0.25% .25% None Servicing and Administrative Fee Equity* and Fixed Income** Portfolios 0.35% 0.35% 0.35% 0.35% None Ultrashort Bond Portfolios*** 0.10% 0.10% 0.10% 0.10% None Distribution Fee Equity* & Fixed Income** Portfolios None None 0.75% 0.65% None Ultrashort Bond Portfolios*** None None None None None * Equity Fund Portfolios consist of the following: Age-Based Investment Portfolios 1 (Ages 0-9), 2 (Ages 10), 3 (Age 11), 4 (Age 12); Diversified Equity Static Investment Portfolio; Virtus Blended International Equity, Virtus Blended U.S. Equity, Virtus Ceredex Small-Cap Value, Virtus Global Allocation, Virtus KAR Mid-Cap Core, Virtus NFJ Dividend Value and ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Focused Growth.** Fixed Income Fund Portfolios consist of Age-Based Investment Portfolios 5 (Age 13), 6 (Age 14), 7 (Age 15), 8 (Age 16), 9 (Ages 17-18), and 10 (Ages 19 and over); Diversified Bond Static Investment Portfolio; Virtus Blended All Asset, Virtus Newfleet Multi-Sector Intermediate Bond, and Virtus Seix Core Bond. *** Ultrashort Bond Portfolios consist of the Ultrashort Bond Static Investment Portfolio and the Virtus Blended Ultrashort Bond.

Based Fees. At the Program level, the Account may be subject to a Program Management Fee and certain other asset-based fees. Such fees paid by the Account are received by the Program Manager, and there are no additional fees payable to the Council or to the State of South Dakota. The asset-based fees noted below for each class of Units are accrued daily and paid to the Program Manager monthly. The Program Manager has agreed to pay VA AllianzGI U.S. an asset based advisory fee in connection with the advisory services provided to the Program, and that fee is not a separate charge paid by the Investment Portfolios. Fee A SD-A1 C SD-C2 F3 Program Management Fee 0.25% None 0.25% None 0.00 or .25% None Servicing and Administrative Fee Equity* and Fixed Income** Portfolios 0.35% 0.35% 0.35% 0.35% None PIMCO Short Asset Investment & Ultrashort Bond Portfolios*** Portfolios 0.10% 0.10% 0.10% 0.10% None Distribution Fee Equity* & Fixed Income** Portfolios None None 0.75% 0.65% None PIMCO Short Asset Investment & Ultrashort Bond Portfolios*** Portfolios None None None None None * Equity Fund Portfolios consist of the following: Age-Based Investment Portfolios 1 (Ages 0-9)8), 2 (Ages 9-10), 3 (Age 11), 4 (Age 12); Diversified Equity Static Investment Portfolio; Virtus Blended Dodge and ▇▇▇ International Stock, Parametric International Equity, Virtus Blended U.S. EquityAllianzGI Focused Growth, Virtus Ceredex Small-Cap Value, Virtus AllianzGI Global Allocation, Virtus KAR Mid-Cap Core, Virtus NFJ Dividend Value and ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Focused Growth.Virtus NFJ Small-Cap Value. ** Fixed Income Fund Portfolios consist of the following: Age-Based Investment Portfolios 5 (Age 13), 6 (Age 14), 7 (Age 15), 8 (Age 16), ) and 9 (Ages 17-18), 17 and 10 (Ages 19 and overOver); Diversified Bond Static Investment Portfolio; Virtus Blended Metropolitan West Total Return Bond, PIMCO All Asset, Virtus Newfleet Multi-Sector Intermediate BondPIMCO Income, PIMCO Real Return, and Virtus Seix Core Bond. *** Ultrashort Bond Portfolios consist of the Ultrashort Bond Static Investment Portfolio and the Virtus Blended Ultrashort BondPIMCO Stocks PLUS Absolute Return Fund.