Common use of COMPENSATION OF ADVISER Clause in Contracts

COMPENSATION OF ADVISER. For the services to be furnished during any month by the Adviser hereunder, each Portfolio listed in Schedule A shall pay the Adviser, and the Adviser agrees to accept as full compensation for all services rendered hereunder, an Advisory Fee as soon as practical after the last day of such month. The Advisory Fee shall be an amount equal to 1/12th of the annual fee as set forth in Schedule B of the average of the net asset value of the Portfolio determined as of the close of business on each business day throughout the month (the "Average Asset Value"). In case of termination of this Agreement with respect to any Portfolio during any month, the fee for that month shall be reduced proportionately on the basis of the number of calendar days during which it is in effect and the fee computed upon the Average Asset Value of the business days during which it is so in effect.

COMPENSATION OF ADVISER. For the services to be furnished during any ----------------------- month by the Adviser hereunder, each Portfolio listed in Schedule A shall pay the Adviser, and the Adviser agrees to accept as full compensation for all services rendered hereunder, an Advisory Fee as soon as practical after the last day of such month. The Advisory Fee shall be an amount equal to 1/12th of the annual fee as set forth in Schedule B of the average of the net asset value of the Portfolio determined as of the close of business on each business day throughout the month (the "Average Asset Value"). In case of termination of this Agreement with respect to any Portfolio during any month, the fee for that month shall be reduced proportionately on the basis of the number of calendar days during which it is in effect and the fee computed upon the Average Asset Value of the business days during which it is so in effect.