Common use of Compensation and Reimbursement of Manager Clause in Contracts

Compensation and Reimbursement of Manager. The Manager shall receive a quarterly management fee (the “Management Fee”) calculated as follows: {(the market value under US GAAP of all cash and securities in the Account on the first day of each calendar quarter plus the market value under US GAAP of all cash and securities in the Account on the last day of that same calendar quarter) divided by two} times .00045. The Principal shall pay its Proportionate Share of the Management Fee and its Proportionate Share of all reasonable costs and expenses incurred by the Manager in performing its obligations under this Agreement, including but not limited to commissions, transaction fees and custodial fees for the Account (the “Account Expenses”). The Principal’s Proportionate Share of the Management Fee, along with its Proportionate Share of any related Account Expenses, shall be billed to the Principal on a quarterly basis, or in such other manner as mutually agreed to by the Manager and Principal in writing. Compensation amounts owing between the parties shall be settled between the parties on a quarterly basis and payments of amounts owing shall be made within 45 days after the end of the calendar quarter.

Compensation and Reimbursement of Manager. The Manager shall receive a quarterly management fee (the “Management Fee”) calculated as follows: {(the market value under US GAAP of all cash and securities in the Account on the first day of each calendar quarter plus the market value under US GAAP of all cash and securities in the Account on the last day of that same calendar quarter) divided by two} times .00045. 00045. The Principal shall pay its Proportionate Share of the Management Fee and its Proportionate Share of all reasonable costs and expenses incurred by the Manager in performing its obligations under this Agreement, including but not limited to commissions, transaction fees and custodial fees for the Account (the “Account Expenses”). The Principal’s Proportionate Share of the Management Fee, along with its Proportionate Share of any related Account Expenses, shall be billed to the Principal on a quarterly basis, or in such other manner as mutually agreed to by the Manager and Principal in writing. Compensation amounts owing between the parties shall be settled between the parties on a quarterly basis and payments of amounts owing shall be made within 45 days after the end of the calendar quarter.

Compensation and Reimbursement of Manager. The Manager shall receive a quarterly management fee (the “Management Fee”) calculated as follows: {(the market value under US GAAP of all cash and securities in the Account on the first day of each calendar quarter plus the market value under US GAAP of all cash and securities in the Account on the last day of that same calendar quarter) divided by two} ) times .00045. The Principal shall pay its Proportionate Share of the Management Fee and its Proportionate Share of all reasonable costs and expenses incurred by the Manager in performing its obligations under this Agreement, including but not limited to commissions, transaction fees and custodial fees for the Account (the “Account Expenses”). The Principal’s Proportionate Share of the Management Fee, along with its Proportionate Share of any related Account Expenses, shall be billed to the Principal on a quarterly basis, or in such other manner as mutually agreed to by the Manager and Principal in writing. Compensation amounts owing between the parties shall be settled between the parties on a quarterly basis and payments of amounts owing shall be made within 45 days after the end of the calendar quarter.