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 for herein, for each of the years this Agreement is in effect, the Fund shall pay the Management Company an annual fee equal to 0.60 percent of the average daily net assets of High Yield Series; 0.35 percent of the average daily net assets of Diversified Income Series and the Capital Preservation Series; and 0.80 percent of the average daily net assets of Income Opportunity Series of $200 million or less, plus 0.70 percent of the average daily net assets of Income Opportunity Series of more than $200 million, 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 for herein, for each of the years this Agreement is in effect, the Fund shall pay the Management Company an annual fee equal to 0.60 percent of the average daily net assets of High Yield Series; 0.35 percent of the average daily net assets of Diversified Income Series and the Capital Preservation Series; and 0.80 percent of the average daily net assets of Income Opportunity Series of $200 million or less, plus 0.70 percent of the average daily net assets of Income Opportunity Series of more than $200 million, 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.