Common use of COMPENSATION OF MANAGEMENT COMPANY Clause in Contracts

COMPENSATION OF MANAGEMENT COMPANY. (a) As compensation for the services to be rendered by the Management Company as provided herein, for each of the years this Agreement is in effect, the Fund shall pay the Management Company an annual fee equal to .5 of 1% of the average daily closing value of the net assets of each Series of the Fund computed on a daily basis. Such fee shall be adjusted and payable monthly. If this Agreement shall be effective for only a portion of a year, then the Management Company's compensation for said year shall be prorated for such portion. For purposes of this Section 5, the value of the net assets of each such Series shall be computed in the same manner at the end of the business day as the value of such net assets is computed in connection with the determination of the net asset value of the Fund's shares as described in the Fund's prospectus.

COMPENSATION OF MANAGEMENT COMPANY. (a) As compensation for the services to be rendered by the Management Company as provided herein, for each of the years this Agreement agreement is in effect, the Fund shall pay the Management Company an annual fee equal to .5 0.5 of 1% of the average daily closing value of the net assets of each the Initial Series of the Fund computed on a daily basis. Such fee shall be adjusted and payable monthly. If this Agreement shall be effective for only a portion of a year, then the Management Company's compensation for said year shall be prorated for such portion. For purposes of this Section 5, the value of the net assets of each such the Initial Series shall be computed in the same manner at the end on each business day as of the business day normal close of the New York Stock Exchange as the value of such net assets is computed in connection with the determination of the net asset value of the Fund's shares of the Initial Series as described in the Fund's prospectus.

COMPENSATION OF MANAGEMENT COMPANY. (a) As compensation for the services to be rendered by the Management Company as provided for herein, for each of the years this Agreement is in effect, the Fund shall pay the Management Company an annual fee equal to .5 of 1% 0.60 percent of the average daily closing value of the net assets of each High Yield Series and 0.50 percent of the Fund computed on a average daily basisnet assets of Intermediate Bond Series. Such fee shall be adjusted and payable monthly. If this Agreement shall be effective for only a portion of a year, then the Management Company's ’s compensation for said year shall be prorated for such portion. For purposes of this Section 5, the value of the net assets of each such Series shall be computed in the same manner at the end of the business day as the value of such net assets is computed in connection with the determination of the net asset value of the Fund's ’s shares as described in the Fund's ’s prospectus.

COMPENSATION OF MANAGEMENT COMPANY. (a) As compensation for the services to be rendered by the Management Company as provided for herein, for each of the years this Agreement is in effect, the Fund shall pay the Management Company an annual fee equal to .5 of 1% 0.60 percent of the average daily closing value of the net assets of each High Yield Series and 0.50 percent of the Fund computed on a average daily basis. net assets of Intermediate Bond Series.. Such fee shall be adjusted and payable monthly. If this Agreement shall be effective for only a portion of a year, then the Management Company's ’s compensation for said year shall be prorated for such portion. For purposes of this Section 5, the value of the net assets of each such Series shall be computed in the same manner at the end of the business day as the value of such net assets is computed in connection with the determination of the net asset value of the Fund's ’s shares as described in the Fund's ’s prospectus.