Common use of FEES; EXPENSES; EXPENSE REIMBURSEMENT Clause in Contracts

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Administrator shall receive from the Funds such compensation for the Administrator's services provided pursuant to this Agreement as may be agreed to from time to time in a written fee schedule approved by the parties and initially set forth in the Fee Schedule to this Agreement. The fees are accrued daily and billed monthly and shall be due and payable upon receipt of the invoice. Upon the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be payable upon the date of termination of this Agreement. In addition, the Funds shall reimburse the Administrator for its out-of-pocket costs incurred in connection with this Agreement. The Funds agree promptly to reimburse the Administrator for any equipment and supplies specially ordered by or for the Funds through the Administrator and for any other expenses not contemplated by this Agreement that the Administrator may incur on the Funds' behalf at the Funds' request or with the Funds' consent. Each Fund will bear all expenses that are incurred in its operation and not specifically assumed by the Administrator. Expenses to be borne by the Funds, include, but are not limited to: organizational expenses; cost of services of independent accountants and outside legal and tax counsel (including such counsel's review of a Fund's registration statement, proxy materials, federal and state tax qualification as a regulated investment company and other reports and materials prepared by the Administrator under this Agreement); cost of any services contracted for by the Funds directly from parties other than the Administrator; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the Funds; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its operation; costs incidental to any meetings of shareholders including, but not limited to, legal and accounting fees, proxy filing fees and the costs of preparation, printing and mailing of any proxy materials; costs incidental to Board meetings, including fees and expenses of Board members; the salary and expenses of any officer, director\trustee or employee of the Funds; costs incidental to the preparation, printing and distribution of the Funds' registration statements and any amendments thereto and shareholder reports; cost of typesetting and printing of prospectuses; cost of preparation and filing of the Funds' tax returns, Form N-1A or N-2 and Form N-SAR, and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; fidelity bond and directors' and officers' liability insurance; and cost of independent pricing services used in computing each Fund's net asset value. The Administrator is authorized to and may employ or associate with such person or persons as the Administrator may deem desirable to assist it in performing its duties under this Agreement; provided, however, that the compensation of such person or persons shall be paid by the Administrator and that the Administrator shall be as fully responsible to the Funds for the acts and omissions of any such person or persons as it is for its own acts and omissions.

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Administrator shall receive from the Funds such compensation for the Administrator's ’s services provided pursuant to this Agreement as may be agreed to from time to time in a written fee schedule approved by the parties and initially set forth in the Fee Schedule to this Agreement. The fees are accrued daily and billed monthly and shall be due and payable upon receipt of the invoice. Upon the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be payable upon the date of termination of this Agreement. In addition, the Funds shall reimburse the Administrator for its out-of-pocket costs incurred in connection with this Agreement. The Funds agree promptly to reimburse the Administrator for any equipment and supplies specially ordered by or for the Funds through the Administrator and for any other expenses not contemplated by this Agreement that the Administrator may incur on the Funds' ’ behalf at the Funds' ’ request or with the Funds' ’ consent. Each Fund will bear all expenses that are incurred in its operation and not specifically assumed by the Administrator. Expenses to be borne by the Funds, include, but are not limited to: organizational expenses; cost of services of independent accountants and outside legal and tax counsel (including such counsel's ’s review of a Fund's ’s registration statement, proxy materials, federal and state tax qualification as a regulated investment company and other reports and materials prepared by the Administrator under this Agreement); cost of any services contracted for by the Funds directly from parties other than the Administrator; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the Funds; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its operation; costs incidental to any meetings of shareholders including, but not limited to, legal and accounting fees, proxy filing fees and the costs of preparation, printing and mailing of any proxy materials; costs incidental to Board meetings, including fees and expenses of Board members; the salary and expenses of any officer, director\trustee or employee of the Funds; costs incidental to the preparation, printing and distribution of the Funds' ’ registration statements and any amendments thereto and shareholder reports; cost of typesetting and printing of prospectuses; cost of preparation and filing of the Funds' ’ tax returns, Form N-1A or N-2 and Form N-SAR, and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; fidelity bond and directors' ’ and officers' ’ liability insurance; and cost of independent pricing services used in computing each Fund's ’s net asset value. The Administrator is authorized to and may employ or associate with such person or persons as the Administrator may deem desirable to assist it in performing its duties under this Agreement; provided, however, that the compensation of such person or persons shall be paid by the Administrator and that the Administrator shall be as fully responsible to the Funds for the acts and omissions of any such person or persons as it is for its own acts and omissions.

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Following the transition of the Services to the Sub-Administrator, the Sub-Administrator shall receive from the Funds such be entitled to reasonable compensation for the its services and expenses as Sub-Administrator's services provided pursuant to this Agreement , as may be agreed to upon from time to time in a written fee schedule approved by between the parties Administrator and initially set forth in the Fee Schedule to this AgreementSub-Administrator. The fees are accrued daily and billed monthly and shall be due and payable upon receipt of the invoice. Upon the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be payable upon the date of termination of this Agreement. In addition, the Funds shall reimburse the Administrator for its out-of-pocket costs incurred in connection with this Agreement. The Funds agree agrees promptly to reimburse the Sub-Administrator for any equipment and supplies specially ordered by or for the Funds a Company or Account through the Sub-Administrator and for any other expenses not contemplated by this Agreement that the Sub-Administrator may incur on the Funds' behalf at the Funds' Administrator’s or the Company’s or Account’s request or with the Funds' Administrator’s or the Company’s or Account’s prior consent. Each Fund The Administrator acknowledges and agrees that the Administrator and/or the applicable Company or Account, as the case may be, will bear all expenses that are incurred in its the operation of the Company or Account and not specifically assumed by the Sub-Administrator. Expenses to be borne by the FundsAdministrator and/or the applicable Company or Account, include, but are not limited to: organizational expenses; cost of services of independent accountants and outside legal and tax counsel (including such counsel's ’s review of a Fund's registration statementthe Registration Statement, Form N-CSR, Form N-Q, Form N-PX, Form N-MFP, Form N-SAR, proxy materials, federal and state tax qualification as a regulated investment company and other reports notices, registrations, reports, filings and materials prepared by the Sub-Administrator under this Agreement); cost of any services contracted for by the Funds Administrator, the Company or Account directly from parties other than the Sub-Administrator; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the FundsCompany or Account; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its operation; costs incidental to any meetings of shareholders including, but not limited to, legal and accounting fees, proxy filing fees and the costs of preparationprint vendor and XXXXX filings (e.g., printing typesetting, XBRL-tagging, page changes and all other print vendor and XXXXX charges, collectively referred to herein as “Production”), printing, distribution and mailing of any proxy materials; costs incidental to Board meetings, including fees and expenses of Board members; the salary and expenses of any officer, director\trustee or employee of the FundsCompany; costs incidental to the preparationof Production, printing printing, distribution and distribution mailing, as applicable, of the Funds' registration statements Company’s Registration Statements and any amendments and supplements thereto and shareholder reports; cost of typesetting and printing of prospectuses; cost of preparation Preparation and filing of the Funds' Company’s tax returns, Form N-1A or N-2 N-1A, Form N-CSR, Form N-Q, Form N-PX, Form N-MFP and Form N-SAR, and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; the cost of fidelity bond and directors' and officers' D&O/E&O liability insurance; and the cost of independent pricing services used in computing each Fund's the Fund(s)’ net asset valuevalues. The Sub-Administrator is authorized to and may employ employ, associate or associate contract with such person or persons as the Sub-Administrator may deem desirable to assist it in performing its duties under this Agreement; provided, however, that (i) the compensation of such person or persons shall be paid by the Administrator and that Sub-Administrator, (ii) the Sub-Administrator shall be as fully responsible to the Funds Administrator for the acts and omissions of any such person or persons as it is for its own acts and omissions, and (iii) such employment will not diminish the quality or timeliness of the Services being performed by the Sub-Administrator pursuant to this Agreement.

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Administrator shall receive from the Funds Fund Parties with respect to each Fund such compensation for the Administrator's services provided pursuant to this Agreement as may be agreed to from time to time in a written fee schedule approved by the parties and initially set forth in the Fee Schedule A to this Agreement. The fees are accrued daily and billed monthly and shall be due and payable upon receipt of the invoice. Upon the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be payable upon the date of termination of this Agreement. In addition, the Funds shall reimburse the Administrator for its reasonable and fully documented out-of-pocket costs incurred in connection with this Agreement. The Funds agree promptly to reimburse Fund Parties must notify the Administrator in writing of any contested amounts within ninety (90) days of receipt of a billing for any equipment such amounts. Disputed amounts are not due and supplies specially ordered by payable while they are being investigated. In the event of questions with respect to the calculation of the Administrator's fees hereunder or for the Funds through billing of such fees, the Administrator and for any other expenses not contemplated by this Agreement parties agree to present a report to the Board of the affected Fund(s) at its next regularly scheduled meeting regarding the resolution of such questions to the extent that the Administrator may incur on amounts involved are material to the Funds' behalf at the Funds' request or with the Funds' consentaffected Fund(s). Each Fund (or Fund Party, as applicable) will bear all expenses that are incurred in its operation and not specifically assumed by the Administrator. Expenses to be borne by the Fundseach Fund (or Fund Party, as applicable), include, but are not limited to: organizational expenses; cost of services of independent accountants and outside legal and tax counsel (including such counsel's review of a Fund's registration statement, proxy materials, federal and state tax qualification as a regulated investment company and other reports and materials prepared by the Administrator under this Agreement); cost of any services contracted for by the Funds directly from parties other than the Administrator; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the Funds; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its operation; costs incidental to any meetings of shareholders including, but not limited to, legal and accounting fees, proxy filing fees and the costs of preparation, printing and mailing of any proxy materials; costs incidental to Board meetings, including fees and expenses of Board members; the salary and expenses of any officer, director\trustee or employee of the Funds; costs incidental to the preparation, printing and distribution of the Funds' registration statements and any amendments thereto and shareholder reports; cost of typesetting and printing of prospectuses; cost of preparation and filing of the Funds' tax returns, Form N-1A or N-2 and Form N-SAR, and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; fidelity bond and directors' and officers' liability insurance; and cost of independent pricing services used in computing each Fund's net asset value. The Administrator is authorized to and may employ or associate with such person or persons as the Administrator may deem desirable to assist it in performing its duties under this Agreement; provided, however, that the compensation of such person or persons shall be paid by the Administrator and that the Administrator shall be as fully responsible to the Funds for the acts and omissions of any such person or persons as it is for its own acts and omissions.:

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Sub-Administrator shall receive from the Funds Administrator with respect to each Fund such compensation for the Sub-Administrator's ’s services provided pursuant to this Agreement as may be agreed to from time to time in a written fee schedule approved by the parties and initially set forth in the Fee Schedule to this Agreement. The fees are accrued daily and billed monthly and shall be due and payable upon receipt of the invoice. Upon the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be payable upon the date of termination of this Agreement. In addition, the Funds Administrator shall reimburse the Sub-Administrator for its out-of-pocket costs incurred in connection with this Agreement, as may be agreed by the parties from time to time. All rights of compensation and expense reimbursement under this Agreement for services performed shall survive the termination of this Agreement. The Funds agree Administrator agrees promptly to reimburse the Sub-Administrator for any equipment and supplies specially ordered by or for the Funds any Fund through the Sub-Administrator and for any other expenses not contemplated by this Agreement that the Sub-Administrator may incur on any Fund’s or the Funds' Administrator’s behalf or at a Fund’s or the Funds' Administrator’s request or with the Funds' Administrator’s consent. Each The Administrator acknowledges and agrees that each Fund and/or the Administrator, as the case may be, will bear all expenses that are incurred in its the operation of such Fund and not specifically assumed by the Sub-Administrator. Expenses to be borne by each Fund and/or the FundsAdministrator, as the case may be, include, but are not limited to: organizational expenses; cost of services of independent accountants and outside legal and tax counsel (including such counsel's ’s review of a any Fund's ’s registration statementstatement (as needed), proxy materials, other SEC filings, federal and state tax qualification as a regulated investment company and other reports and materials prepared by the Sub-Administrator under this Agreement); cost of any services contracted for by each Fund or the Funds Administrator directly from parties other than the Sub-Administrator; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the Fundseach Fund; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its operation; costs incidental to any meetings of shareholders including, but not limited to, legal and accounting fees, proxy filing fees fees, web hosting services; solicitation and tabulation of proxies; and the costs of preparationpreparation (e.g., printing typesetting, page changes and all other print vendor and XXXXX charges, collectively referred to herein as “Preparation”), printing, mailing and web hosting of any proxy materials; costs incidental to Board meetings, including fees and expenses of Board members; the salary and expenses of any officer, director\trustee director or employee of the Fundseach Fund; costs incidental to the preparationPreparation, printing and distribution of the Funds' registration statements and any amendments thereto and each Fund’s shareholder reports; cost of typesetting and printing of prospectusesprospectuses (as necessary); cost of preparation Preparation and filing of the Funds' each Fund’s tax returns, Form N-1A or N-2 N-PX, Form N-Q and Form N-SAR, and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal federal, state and state provincial securities laws; fidelity bond and directors' ’ and officers' officers’/Errors and Omissions liability insurance, including any Independent Director-only insurance coverage; and cost of independent pricing services used in computing each Fund's ’s net asset value. The Sub-Administrator is authorized to and may employ or associate with such person or persons as the Sub-Administrator may deem desirable to assist it in performing its duties under this Agreement; provided, however, that the compensation of such person or persons shall be paid by the Sub-Administrator and that the Sub-Administrator shall be as fully responsible to the Funds Administrator for the acts and omissions of any such person or persons as it is for its own acts and omissions.

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Administrator shall receive from the Funds Trust such compensation for the Administrator's services provided pursuant to this Agreement as may be agreed to from time to time in a written fee schedule approved by the parties and initially set forth in the Fee Schedule B to this Agreement. The fees are accrued daily and billed monthly and shall be due and payable upon receipt of the invoice. Upon the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be payable upon the date of termination of this Agreement. In addition, the Funds Trust shall reimburse the Administrator for its out-of-pocket costs incurred in connection with this Agreement. The Funds agree Trust agrees promptly to reimburse the Administrator for any equipment and supplies specially ordered by or for the Funds Trust through the Administrator and for any other expenses not contemplated by this Agreement that the Administrator may incur on the Funds' Trust's behalf at the Funds' Trust's request or with the Funds' Trust's consent. Each Fund The Trust will bear all expenses that are incurred in its operation and not specifically assumed by the Administrator. Expenses to be borne by the FundsTrust, include, but are not limited to: organizational expenses; cost of services of independent accountants and outside legal and tax counsel (including such counsel's review of a Fundthe Trust's registration statement, proxy materials, federal and state tax qualification as a regulated investment company and other reports and materials prepared by the Administrator under this Agreement); cost of any services contracted for by the Funds Trust directly from parties other than the Administrator; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the FundsTrust; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its operation; costs incidental to any meetings of shareholders including, but not limited to, legal and accounting fees, proxy filing fees and the costs of preparation, printing and mailing of any proxy materials; costs incidental to Board meetings, including fees and expenses of Board members; the salary and expenses of any officer, director\trustee director/trustee or employee of the FundsTrust; costs incidental to the preparation, printing and distribution of the Funds' Trust's registration statements and any amendments thereto and shareholder reports; cost of typesetting and printing of prospectuses; cost of preparation and filing of the Funds' Trust's tax returns, Form N-1A or N-2 and Form N-SAR, and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; fidelity bond and directors' and officers' liability insurance; and cost of independent pricing services used in computing each Fundthe Trust's net asset value. The Administrator is authorized to and may employ or associate with such person or persons as the Administrator may deem desirable to assist it in performing its duties under this Agreement; provided, however, that the compensation of such person or persons shall be paid by the Administrator and that the Administrator shall be as fully responsible to the Funds Trust for the acts and omissions of any such person or persons as it is for its own acts and omissions.

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Administrator shall receive from the Funds Fund such compensation for the Administrator's services provided pursuant to this Agreement as may be agreed to from time to time in a written fee schedule approved by the parties and initially set forth in the Fee Schedule B to this Agreement. The fees are accrued daily and billed monthly and shall be due and payable upon receipt of the invoice. Upon the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be payable upon the date of termination of this Agreement. In addition, the Funds Fund shall reimburse the Administrator for its out-of-pocket costs incurred in connection with this Agreement. The Funds agree Fund agrees promptly to reimburse the Administrator for any equipment and supplies specially ordered by or for the Funds Fund through the Administrator and for any other expenses not contemplated by this Agreement that the Administrator may incur on the Funds' Fund's behalf at the Funds' Fund's request or with the Funds' Fund's consent. Each The Fund will bear all expenses that are incurred in its operation and not specifically assumed by the Administrator. Expenses to be borne by the FundsFund, include, but are not limited to: organizational expenses; cost of services of independent accountants and outside legal and tax counsel (including such counsel's review of a the Fund's registration statement, proxy materials, federal and state tax qualification as a regulated investment company and other reports and materials prepared by the Administrator under this Agreement); cost of any services contracted for by the Funds Fund directly from parties other than the Administrator; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the FundsFund; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its operation; costs incidental to any meetings of shareholders including, but not limited to, legal and accounting fees, proxy filing fees and the costs of preparationpreparation (excluding preparation as provided in Section 5y), printing and mailing of any proxy materials; costs incidental to Board meetingsmeetings other than the costs of preparation of the agenda and background materials, including fees and expenses of Board members; the salary and expenses of any officer, director\trustee or employee of the FundsFund; costs incidental to the preparationpreparation (excluding preparation as provided in Section 5x), printing and distribution of the Funds' Fund's registration statements and any amendments thereto and shareholder reports; cost of typesetting and printing of prospectuses; cost of preparation (excluding preparation as provided in Section 5x) and filing of the Funds' Fund's tax returns, Form N-1A or N-2 and Form N-SAR, and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; fidelity bond and directors' and officers' liability insurance; and cost of independent pricing services used in computing each the Fund's net asset value. The Administrator is authorized to and may employ or associate with such person or persons as the Administrator may deem desirable to assist it in performing its duties under this Agreement; provided, however, that the compensation of such person or persons shall be paid by the Administrator and that the Administrator shall be as fully responsible to the Funds Fund for the acts and omissions of any such person or persons as it is for its own acts and omissions.

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Administrator Bank shall receive from the Funds each Trust such compensation for the Administrator's Bank’s services provided pursuant to this Agreement as may be agreed to from time to time in a written fee schedule approved by the parties and initially set forth in the Fee Schedule to this Agreementparties. The fees are accrued daily and billed monthly and shall be due and payable upon receipt of the invoice. Upon the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be due and payable upon the date receipt of termination of this Agreementthe final invoice. In addition, the Funds each Trust shall reimburse the Administrator Bank for its reasonable out-of-pocket costs incurred in connection with this Agreement. The Funds agree Each Trust agrees promptly to reimburse the Administrator Bank for any equipment and supplies specially ordered by or for the Funds Trust through the Administrator Bank and for any other expenses not contemplated by this Agreement that the Administrator Bank may incur on the Funds' Trust’s behalf at the Funds' Trust’s request or with the Funds' Trust’s consent. Each Fund Trust will bear all expenses that are incurred in its operation and not specifically assumed by the AdministratorBank. Expenses to be borne by the Fundseach Trust, include, but are not limited to: organizational expenses; cost of services of independent accountants and outside legal and tax counsel (including such counsel's review of a Fund's registration statement, proxy materials, federal and state tax qualification as a regulated investment company and other reports and materials prepared by the Administrator under this Agreement); cost of any services contracted for by the Funds each Trust directly from parties other than the AdministratorBank; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the FundsTrust; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its operation; costs incidental to any meetings of shareholders including, but not limited to, legal and accounting fees, proxy filing fees and the costs of preparation, printing and mailing of any proxy materials; costs incidental to Board meetings, including fees and expenses of Board members; the salary and expenses of any officer, director\trustee or employee of the Fundsshareholders; costs incidental to the preparation, typesetting, printing and distribution of the Funds' registration statements and any amendments thereto and Trust’s shareholder reports; cost of typesetting and printing of prospectuses; cost of preparation and filing of the Funds' Trust’s tax returns, Form N-1A or N-2 and Form N-SAR, ; and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; fidelity bond and directors' and officers' liability insurance; and the cost of independent pricing services used in computing each Fund's the Portfolios’ net asset value. The Administrator Bank is authorized to and may employ employ, associate or associate contract with such person or persons as the Administrator Bank may deem desirable to assist it in performing its duties under this Agreement; provided, however, that the compensation of such person or persons shall be paid by the Administrator Bank and that the Administrator Bank shall be as fully responsible to the Funds each Trust for the acts and omissions of any such person or persons as it is for its own acts and omissions.

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Administrator shall receive from the Funds such compensation for the Administrator's services provided pursuant to this Agreement as may be agreed to from time to time in a written fee schedule approved by the parties and initially set forth in the Fee Schedule to this Agreement. The fees are accrued daily and billed monthly and shall be due and payable upon receipt of the invoice. Upon the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be payable upon the date of termination of this Agreement. In addition, the Funds shall reimburse the Administrator for its out-of-pocket costs incurred in connection inconnection with this Agreement. The Funds agree promptly to reimburse the Administrator for any equipment and supplies specially ordered by or for the Funds through the Administrator and for any other expenses not contemplated by this Agreement that the Administrator may incur on the FundstheFunds' behalf at the Funds' request or with the Funds' consent. Each Fund will bear all expenses that are incurred in its operation and not specifically assumed by the Administrator. Expenses to be borne by the Funds, include, but are not limited to: organizational expenses; cost of services of independent accountants and outside legal and tax counsel (including such counsel's review of a Fund's registration statement, proxy materials, federal and state tax qualification as a regulated investment company and other reports and materials prepared by the Administrator under this Agreement); cost of any services contracted for by the Funds directly from parties other than the Administrator; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the Funds; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its operation; costs incidental to any meetings of shareholders including, but not limited to, legal and accounting fees, proxy filing fees and the costs of preparation, printing and mailing of any proxy materials; costs incidental to Board meetings, including fees and expenses of Board members; the salary and expenses of any officer, director\trustee or employee of the Funds; costs incidental to the preparation, printing and distribution of the Funds' registration statements and any amendments thereto and shareholder reports; cost of typesetting and printing of prospectuses; cost of preparation and filing of the Funds' tax returns, Form N-1A or N-2 and Form N-SAR, and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; fidelity bond and directors' and officers' liability insurance; and cost of independent pricing services used in computing each Fund's net asset value. The Administrator is authorized to and may employ or associate with such person or persons as the Administrator may deem desirable to assist it in performing its duties under this Agreement; provided, however, that the compensation of such person or persons shall be paid by the Administrator and that the Administrator shall be as fully responsible to the Funds for the acts and omissions of any such person or persons as it is for its own acts and omissions.

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Administrator shall receive from the Funds Fund such compensation for the Administrator's services provided pursuant to this Agreement as may be agreed to from time to time in a written fee schedule approved by the parties and initially set forth in the Fee Schedule B to this Agreement. The fees are accrued daily and billed monthly and shall be due and payable upon receipt of the invoice. Upon the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be payable upon the date of termination of this Agreement. In addition, the Funds Fund shall reimburse the Administrator for its reasonable out-of-pocket costs incurred in connection with this Agreement. The Funds agree Fund agrees promptly to reimburse the Administrator for any equipment and supplies specially ordered by or for the Funds Fund through the Administrator and for any other expenses not contemplated by this Agreement that the Administrator may incur on the Funds' Fund's behalf at the Funds' Fund's request or with the Funds' Fund's consent. Each The Fund will bear all expenses that are incurred in its operation and not specifically assumed by the Administrator. Expenses to be borne by the FundsFund, include, but are not limited to: organizational expenses; cost of services of independent accountants and outside legal and tax counsel (including such counsel's review of a the Fund's registration statement, proxy materials, federal and state tax qualification as a regulated investment company and other reports and materials prepared by the Administrator under this Agreement); cost of any services contracted for by the Funds Fund directly from parties other than the Administrator; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the FundsFund; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its operation; costs incidental to any meetings of shareholders including, but not limited to, legal and accounting fees, proxy filing fees and the costs of preparation, printing and mailing of any proxy materials; costs incidental to Board meetings, including fees and expenses of Board members; the salary and expenses of any officer, director\trustee or employee of the FundsFund; costs incidental to the preparation, printing and distribution of the Funds' Fund's registration statements and any amendments thereto and shareholder reports; cost of typesetting and printing of prospectuses; cost of preparation and filing of the Funds' Fund's tax returns, Form N-1A or N-2 and Form N-SAR, and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; fidelity bond and directors' and officers' liability insurance; and cost of independent pricing services used in computing each the Fund's net asset value. The Administrator is authorized to and may employ or associate with such person or persons as the Administrator may deem desirable to assist it in performing its duties under this Agreement; provided, however, that the compensation of such person or persons shall be paid by the Administrator and that the Administrator shall be as fully responsible to the Funds Fund for the acts and omissions of any such person or persons as it is for its own acts and omissions.

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Sub-Administrator shall receive from the Funds Administrator with respect to the Fund such compensation for the Sub-Administrator's services provided pursuant to this Agreement as may be agreed to from time to time in a written fee schedule approved by the parties and initially set forth in the Fee Schedule to this Agreement. The fees are accrued daily and billed monthly and shall be due and payable upon promptly after receipt of the invoice. Upon the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be payable upon the date of termination of this Agreement. In addition, the Funds Administrator shall reimburse the Sub-Administrator for its out-of-pocket costs incurred in connection with this Agreement, as may be agreed to by the parties from time to time. The Funds Administrator agree promptly to reimburse the Sub-Administrator for any equipment and supplies specially ordered by or for the Funds Fund or the Administrator through the Sub-Administrator and for any other expenses not contemplated by this Agreement that the Sub-Administrator may incur on the Funds' Fund's or on the Administrator's behalf or at the Funds' Fund's or the Administrator's request or with the Funds' Administrator's consent. Each The Fund will bear all expenses that are incurred in its operation and not specifically assumed by the Sub-Administrator. Expenses to be borne by the FundsFund, include, but are not limited to: organizational expenses; cost of services of independent accountants and outside legal and tax counsel (including such counsel's review of a the Fund's registration statement, proxy materials, federal and state tax qualification as a regulated investment company and other reports and materials prepared by the Sub-Administrator under this Agreement); cost of any services contracted for by the Funds Fund directly from parties other than the Sub-Administrator; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the FundsFund; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its operation; costs incidental to any meetings of shareholders including, but not limited to, legal and accounting fees, proxy filing fees and the costs of preparationpreparation and XXXXX filing, printing and mailing of any proxy materials; costs incidental to Board meetings, including fees and expenses of Board members; the salary and expenses of any officer, director\trustee or employee of the FundsFund, other than employees of the Administrator; costs incidental to the preparationpreparation and XXXXX filing, printing and distribution of the Funds' Fund's registration statements and any amendments thereto and shareholder reports; cost of typesetting and printing of prospectuses; cost of preparation (excluding preparation as provided in Section 5) and filing of the Funds' Fund's tax returns, Form N-1A or N-2 N-2, Form N-CSR, Form N-Q, Form N-PX and Form N-SAR, and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; fidelity bond and directors' and officers' liability insurance; and cost of independent pricing services used in computing each the Fund's net asset valuevalues. The Sub-Administrator is authorized to and may employ or associate with such person or persons as the Sub-Administrator may deem desirable to assist it in performing its duties under this Agreement; provided, however, that the compensation of such person or persons shall be paid by the Sub-Administrator and that the Sub-Administrator shall be as fully responsible to the Funds Fund for the acts and omissions of any such person or persons as it is for its own acts and omissions.

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Administrator shall receive from the Funds Companies such compensation for the Administrator's services provided pursuant to this Agreement as may be agreed to from time to time in a written fee schedule approved by the parties and initially set forth in the Fee separate fee schedule described on Schedule C attached to this Agreement. The fees are accrued daily and billed monthly and shall be due and payable upon receipt of the invoice. Upon the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be payable upon the date of termination of this Agreement. In addition, the Funds each Company shall reimburse the Administrator for its out-of-pocket costs incurred in connection with this Agreement. The Funds agree Companies agrees promptly to reimburse the Administrator for any equipment and supplies specially ordered by or for the Funds a Company through the Administrator and for any other expenses not contemplated by this Agreement that the Administrator may incur on the Funds' Company's behalf at the Funds' Company's request or with the Funds' consentCompany's consent provided Administrator provides Company advance written notice detailing the equipment, supplies or expense and the anticipated costs. Each Fund Company will bear all expenses that are incurred in its operation and not specifically assumed by the Administrator. Expenses to be borne by the FundsCompany, include, but are not limited to: organizational expenses; cost of services of independent accountants and outside legal and tax counsel (including such counsel's review of a Fundthe Company's registration statement, proxy materials, federal and state tax qualification as a regulated investment company and other reports and materials prepared by the Administrator under this Agreement); cost of any services contracted for by the Funds Company directly from parties other than the Administrator; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the FundsCompany; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its operation; costs incidental to any meetings of shareholders including, but not limited to, legal and accounting fees, proxy filing fees and the costs of preparation, printing and mailing of any proxy materials; costs incidental to Board meetings, including fees and expenses of Board members; the salary and expenses of any officer, director\trustee or employee of the FundsCompany; costs incidental to the preparation, printing and distribution of the Funds' Company's registration statements and any amendments thereto and shareholder reports; cost of typesetting and printing of prospectuses; cost of preparation and filing of the Funds' Company's tax returns, Form N-1A N-1A, N-2, N-4 or N-2 N-6 and Form N-SAR, and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; fidelity bond and directors' and officers' liability insurance; and cost of independent pricing services used in computing each Fundthe Company's net asset value. The Administrator is authorized to and may employ or associate with such person or persons as the Administrator may deem desirable to assist it in performing its duties under this Agreement; provided, however, that the compensation of such person or persons shall be paid for solely by the Administrator and that the Administrator shall be as fully responsible to the Funds Company for the acts and omissions of any such person or persons as it is for its own acts and omissions, and further provided Administrator provides advance written notice of its intent to do so.

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Sub-Administrator shall receive from the Funds Administrator with respect to each Fund such compensation for the Sub-Administrator's ’s services provided pursuant to this Agreement as may be agreed to from time to time in a written fee schedule approved by the parties and initially set forth in the Fee Schedule to this Agreement. The fees are accrued daily and billed monthly and shall be due and payable upon receipt of the invoice. Upon the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be payable upon the date of termination of this Agreement. In addition, the Funds Administrator shall reimburse the Sub-Administrator for its out-of-pocket costs incurred in connection with this Agreement, as may be agreed by the parties from time to time. All rights of compensation and expense reimbursement under this Agreement for services performed shall survive the termination of this Agreement. The Funds agree Administrator agrees promptly to reimburse the Sub-Administrator for any equipment and supplies specially ordered by or for the Funds any Fund through the Sub-Administrator and for any other expenses not contemplated by this Agreement that the Sub-Administrator may incur on any Fund’s or the Funds' Administrator’s behalf or at a Fund’s or the Funds' Administrator’s request or with the Funds' Administrator’s consent. Each The Administrator acknowledges and agrees that each Fund and/or the Administrator, as the case may be, will bear all expenses that are incurred in its the operation of such Fund and not specifically assumed by the Sub-Administrator. Expenses to be borne by each Fund and/or the FundsAdministrator, as the case may be, include, but are not limited to: organizational expenses; cost of services of independent accountants and outside legal and tax counsel (including such counsel's ’s review of a any Fund's ’s registration statementstatement (as needed), proxy materials, other SEC filings, federal and state tax qualification as a regulated investment company and other reports and materials prepared by the Sub-Administrator under this Agreement); cost of any services contracted for by each Fund or the Funds Administrator directly from parties other than the Sub-Administrator; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the Fundseach Fund; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its operation; costs incidental to any meetings of shareholders including, but not limited to, legal and accounting fees, proxy filing fees fees, web hosting services; solicitation and tabulation of proxies; and the costs of preparationpreparation (e.g., printing typesetting, page changes and all other print vendor and XXXXX charges, collectively referred to herein as “Preparation”), printing, mailing and web hosting of any proxy materials; costs incidental to Board meetings, including fees and expenses of Board members; the salary and expenses of any officer, director\trustee trustee or employee of the FundsTrust; costs incidental to the preparationPreparation, printing and distribution of the Funds' registration statements and any amendments thereto and each Fund’s shareholder reports; cost of typesetting and printing of prospectusesprospectuses (as necessary); cost of preparation Preparation and filing of the Funds' each Fund’s tax returns, Form N-1A or N-2 N-PX, Form N-Q and Form N-SAR, and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal federal, state and state provincial securities laws; fidelity bond and directors' ’ and officers' officers’/Errors and Omissions liability insurance, including any Independent Trustee-only insurance coverage; and cost of independent pricing services used in computing each Fund's ’s net asset value. The Sub-Administrator is authorized to and may employ or associate with such person or persons as the Sub-Administrator may deem desirable to assist it in performing its duties under this Agreement; provided, however, that the compensation of such person or persons shall be paid by the Sub-Administrator and that the Sub-Administrator shall be as fully responsible to the Funds Administrator for the acts and omissions of any such person or persons as it is for its own acts and omissions.

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Administrator Bank shall receive from the Funds Company such compensation for the AdministratorBank's services provided pursuant to this Agreement as may be agreed to from time to time in a written fee schedule approved by the parties and initially set forth in the Fee Schedule to this Agreement. The fees are accrued daily and billed monthly and shall be due and payable upon receipt of the invoice. Each Fund shall pay to the Bank any and all compensation and reimbursement of expense that are not paid to the Bank by the Company. Upon the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be payable upon the date of termination of this Agreement. In addition, the Funds Company shall reimburse the Administrator Bank for its out-of-pocket costs incurred in connection with this Agreement. The Funds agree Company agrees promptly to reimburse the Administrator Bank for any equipment and supplies specially ordered by or for a Fund, or the Funds Company, through the Administrator Bank and for any other expenses not contemplated by this Agreement that the Administrator Bank may incur on a Fund's or the Funds' behalf Company's behalf, at the Funds' Fund's or the Company's request or with the Funds' Fund's or the Company's consent. Each Fund will bear all expenses that are incurred in its operation and not specifically assumed by the AdministratorBank. Expenses to be borne by the Fundseach Fund, include, but are not limited to: organizational expenses; cost of services of independent accountants and outside legal and tax counsel (including such counsel's preparation and review of a the Fund's registration statement, proxy materials, materials as well as federal and state tax qualification as a regulated investment company and other reports and materials that may be prepared by the Administrator Bank under this Agreement); cost of any services contracted for by the Funds Fund directly from parties other than the AdministratorBank; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the FundsFund; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its operation; costs incidental to any meetings of shareholders including, but not limited to, legal and accounting fees, proxy filing fees and the costs of preparation, filing (edgarization), printing and mailing of any proxy materials; costs incidental to Board meetings, including fees and expenses of Board members; the salary and expenses of any officer, director\trustee director/trustee or employee of the FundsFund; costs incidental to the preparation, filing (edgarization), printing and distribution of the Funds' Fund's registration statements and any amendments thereto and shareholder reports; cost of typesetting and printing of prospectuses; cost of preparation and filing of the Funds' Fund's tax returns, Form N-1A or N-2 returns and Form N-SARSAR (other than pursuant to Section 6f. of this Agreement), and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; fidelity bond and directors' and officers' liability insurance; and cost of independent pricing services used in computing each Fund's net asset value. The Administrator Bank is authorized to and may employ or associate with such person or persons as the Administrator Bank may deem desirable to assist it in performing its duties under this Agreement; provided, however, that the compensation of such person or persons shall be paid by the Administrator Bank and that the Administrator Bank shall be as fully responsible to the Funds Fund for the acts and omissions of any such person or persons as it is for its own acts and omissions.

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Administrator shall receive from the Funds Trust such compensation for the Administrator's services provided pursuant to this Agreement as may be agreed to from time to time in a written fee schedule approved by the parties and initially set forth in the Fee Schedule to this Agreement. The fees are accrued daily and billed monthly and shall be due and payable upon receipt of the invoice. Upon the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be payable upon the date of termination of this Agreement. In addition, the Funds Trust shall reimburse the Administrator for its out-of-pocket costs incurred in connection with this Agreement. The Funds agree promptly Trust agrees to reimburse the Administrator for any equipment and supplies specially ordered by or for the Funds Trust through the Administrator and for any other expenses not contemplated by this Agreement that the Administrator may incur on the Funds' Trust's behalf at the Funds' Trust's request or with the Funds' Trust's consent. Each Fund The Trust will bear all expenses that are incurred in its operation and not specifically assumed by the Administrator. Expenses to be borne by the FundsTrust, include, but are not limited to: organizational expenses; cost of services of independent accountants and outside legal and tax counsel (including such counsel's review of a Fundthe Trust's registration statement, proxy materials, federal and state tax qualification as a regulated investment company and other reports and materials prepared by the Administrator under this Agreement); cost of any services contracted for by the Funds Trust directly from parties other than the Administrator; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the FundsTrust; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its operation; costs incidental to any meetings of shareholders including, but not limited to, legal and accounting fees, proxy filing fees and the costs of preparation, printing and mailing of any proxy materials; costs incidental to Board meetings, including fees and expenses of Board members; the salary and expenses of any officer, director\trustee or employee of the FundsTrust; costs incidental to the preparation, printing and distribution of the Funds' Trust's registration statements and any amendments thereto and shareholder reports; cost of typesetting and printing of prospectuses; cost of preparation and filing of the Funds' Trust's tax returns, Form N-1A or N-2 and Form N-SAR, and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; fidelity bond and directors' and officers' liability insurance; and cost of independent pricing services used in computing each Fundthe Trust's net asset value. The Administrator is authorized to and may employ or associate with such person or persons as the Administrator may deem desirable to assist it in performing its duties under this Agreement; provided, however, that the compensation of such person or persons shall be paid by the Administrator and that the Administrator shall be as fully responsible to the Funds Trust for the acts and omissions of any such person or persons as it is for its own acts and omissions.

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Administrator shall receive from the Funds Trust such compensation for the Administrator's services provided pursuant to this Agreement as may be agreed to from time to time in a written fee schedule approved by the parties and initially set forth in the Fee Schedule to this Agreement. The fees are accrued daily and billed monthly and shall be due and payable upon receipt of the invoice. Upon In the termination of event this Agreement before commences or terminates other than on the end first or last day respectively of any month, the fee for the services performed for part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be payable upon the date of termination of this Agreementperiod. In addition, the Funds Trust shall reimburse the Administrator for its out-of-pocket costs incurred in connection with this Agreement. The Funds agree Trust agrees promptly to reimburse the Administrator for any equipment and supplies specially ordered by or for the Funds Trust through the Administrator and for any other expenses not contemplated by this Agreement that the Administrator may incur on the Funds' behalf Trust's behalf, in each instance at the Funds' Trust's request or with the Funds' Trust's consent. Each Fund The Trust will bear all expenses that are incurred in its operation and not specifically assumed by the Administrator. Expenses of the Trust to be borne by the FundsTrust, include, but are not limited to: organizational expenses; cost of services of its independent accountants and its outside legal and tax counsel (including such counsel's review of a Fundthe Trust's registration statement, proxy materials, federal and state tax qualification as a regulated investment company and other any reports and materials prepared by the Administrator under this Agreement); cost of any services contracted for by the Funds Trust directly from parties other than the Administrator; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the FundsTrust; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its operation; costs incidental to any meetings of shareholders including, but not limited to, legal and accounting fees, proxy filing fees and the out-of-pocket costs of preparation, printing and mailing of any proxy materials; costs incidental to Board meetings, including fees and expenses of Board members; the salary and expenses of any officer, director\trustee or employee of the FundsTrust; out-of-pocket costs incidental to the preparation, printing and distribution of the Funds' Trust's registration statements and any amendments thereto and shareholder reports; cost of typesetting and printing of prospectuses; out- of-pocket cost of preparation and filing of the Funds' Trust's tax returns, Form N-1A or N-2 and Form N-SAR, and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; the Trust's fidelity bond and directors' and officers' liability insuranceinsurance premiums; and cost of independent pricing services used in computing each Fundthe Trust's net asset value. The Administrator is authorized to and may employ or associate with such person or persons as the Administrator may deem desirable to assist it in performing its duties under this Agreement; provided, however, that the compensation of such person or persons shall be paid by the Administrator and that the Administrator shall be as fully responsible to the Funds Trust for the acts and omissions of any such person or persons as it is for its own acts and omissions.

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Administrator shall receive from the Funds Company such compensation for the Administrator's services provided pursuant to this Agreement as may be agreed to from time to time in a written fee schedule approved by the parties and initially set forth in the Fee separate fee schedule described on Schedule B attached to this Agreement. The fees are accrued daily and billed monthly and shall be due and payable upon receipt of the invoice. Upon the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be payable upon the date of termination of this Agreement. In addition, the Funds Company shall reimburse the Administrator for its out-of-pocket costs incurred in connection with this Agreement. The Funds agree Company agrees promptly to reimburse the Administrator for any equipment and supplies specially ordered by or for the Funds Company through the Administrator and for any other expenses not contemplated by this Agreement that the Administrator may incur on the Funds' Company's behalf at the Funds' Company's request or with the Funds' consentCompany's consent provided Administrator provides Company advance written notice detailing the equipment, supplies or expense and the anticipated costs. Each Fund The Company will bear all expenses that are incurred in its operation and not specifically assumed by the Administrator. Expenses to be borne by the FundsCompany, include, but are not limited to: organizational expenses; cost of services of independent accountants and outside legal and tax counsel (including such counsel's review of a Fundthe Company's registration statement, proxy materials, federal and state tax qualification as a regulated investment company and other reports and materials prepared by the Administrator under this Agreement); cost of any services contracted for by the Funds Company directly from parties other than the Administrator; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the FundsCompany; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its operation; costs incidental to any meetings of shareholders including, but not limited to, legal and accounting fees, proxy filing fees and the costs of preparation, printing and mailing of any proxy materials; costs incidental to Board meetings, including fees and expenses of Board members; the salary and expenses of any officer, director\trustee or employee of the FundsCompany; costs incidental to the preparation, printing and distribution of the Funds' Company's registration statements and any amendments thereto and shareholder reports; cost of typesetting and printing of prospectuses; cost of preparation and filing of the Funds' Company's tax returns, Form N-1A or N-2 and Form N-SAR, and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; fidelity bond and directors' and officers' liability insurance; and cost of independent pricing services used in computing each Fundthe Company's net asset value. The Administrator is authorized to and may employ or associate with such person or persons as the Administrator may deem desirable to assist it in performing its duties under this Agreement; provided, however, that the compensation of such person or persons shall be paid for solely by the Administrator and that the Administrator shall be as fully responsible to the Funds Company for the acts and omissions of any such person or persons as it is for its own acts and omissions, and further provided Administrator provides advance written notice of its intent to do so.

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Administrator shall receive from the Funds Trust such compensation for the Administrator's ’s services provided pursuant to this Agreement as may be agreed to from time to time in a written fee schedule approved by the parties and initially set forth in the Fee Schedule to this Agreementparties. The fees are accrued daily and billed monthly and shall be due and payable upon promptly after receipt of the invoice. Upon the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be payable upon the date of termination of this Agreement. In addition, the Funds Trust shall reimburse the Administrator for its out-of-pocket costs incurred in connection with this Agreement, as may be agreed to by the parties from time to time. The Funds agree Trust agrees promptly to reimburse the Administrator for any equipment and supplies specially ordered by or for the Funds Trust through the Administrator and for any other expenses not contemplated by this Agreement that the Administrator may incur on the Funds' Trust’s behalf at the Funds' Trust’s request or with the Funds' Trust’s consent. Each Fund The Trust will bear all expenses that are incurred in its operation and not specifically assumed by the Administrator. Expenses to be borne by the FundsTrust, include, but are not limited to: organizational expenses; cost of services of independent accountants and outside legal and tax counsel (including such counsel's ’s review of a Fund's registration statementthe Trust’s Registration Statement, Form N-CSR, Form N-Q, Form N-MFP, Form N-SAR, proxy materials, federal and state tax qualification as a regulated investment company and other reports and materials prepared by the Administrator under this Agreement); cost of any services contracted for by the Funds Trust directly from parties other than the Administrator; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the FundsTrust; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its operation; costs incidental to any meetings of shareholders including, but not limited to, legal and accounting fees, proxy filing fees and the costs of preparationpreparation and XXXXX filing, printing and mailing of any proxy materials; costs incidental to Board meetings, including fees and expenses of Board members; the salary and expenses of any officer, director\trustee or employee of the FundsTrust, other than employees of the Administrator; costs incidental to the preparationpreparation and XXXXX filing, printing and distribution of the Funds' Trust’s registration statements and any amendments and supplements thereto and shareholder reports; cost of typesetting and printing of prospectuses; cost of preparation (excluding preparation as provided in Section 5) and filing of the Funds' Trust’s tax returns, Form N-1A or N-2 Form N-SAR, Form N-Q, Form N-MFP and Form N-SAR, and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; fidelity bond and directors' ’ and officers' ’ liability insurance; and cost of independent pricing services used in computing each Fund's the Trust’s net asset value. The Administrator is authorized to and may employ or associate with such person or persons as the Administrator may deem desirable to assist it in performing its duties under this Agreement; provided, however, that the compensation of such person or persons shall be paid by the Administrator and that the Administrator shall be as fully responsible to the Funds Trust for the acts and omissions of any such person or persons as it is for its own acts and omissions.

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Administrator shall receive from the Funds Trust such compensation for the Administrator's services provided pursuant to this Agreement as may be agreed to from time to time in a written fee schedule approved by the parties and initially set forth in the Fee Schedule to this Agreement. The fees are accrued daily and billed monthly and shall be due and payable upon receipt of the invoice. Upon the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be payable upon the date of termination of this Agreement. In addition, the Funds Trust shall reimburse the Administrator for its out-of-pocket costs incurred in connection with this Agreement. The Funds agree Trust agrees promptly to reimburse the Administrator for any equipment and supplies specially ordered by or for the Funds Trust through the Administrator and for any other expenses not contemplated by this Agreement that the Administrator may incur on the Funds' Trust's behalf at the Funds' Trust's request or with the Funds' Trust's consent. Each Fund The Trust will bear all expenses that are incurred in its operation and not specifically assumed by the Administrator. Expenses to be borne by the FundsTrust, include, but are not limited to: organizational expenses; cost of services of independent accountants and outside legal and tax counsel (including such counsel's review of a Fundthe Trust's registration statement, proxy materials, federal and state tax qualification as a regulated investment company and other reports and materials prepared by the Administrator under this Agreement); cost of any services contracted for by the Funds Trust directly from parties other than the Administrator; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the FundsTrust; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its operation; costs incidental to any meetings of shareholders including, but not limited to, legal and accounting fees, proxy filing fees and the costs of preparation, printing and mailing of any proxy materials; costs incidental to Board meetings, including fees and expenses of Board members; the salary and expenses of any officer, director\trustee or employee of the FundsTrust; costs incidental to the preparation, printing and distribution of the Funds' Trust's registration statements and any amendments thereto and shareholder reports; cost of typesetting and printing of prospectuses; cost of preparation and filing of the Funds' Trust's tax returns, Form N-1A or N-2 and Form N-SAR, and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; fidelity bond and directors' and officers' liability insurance; and cost of independent pricing services used in computing each Fundthe Trust's net asset value. The Administrator is authorized to and may employ or associate with such person or persons as the Administrator may deem desirable to assist it in performing its duties under this Agreement; provided, however, that the compensation of such person or persons shall be paid by the Administrator and that the Administrator shall be as fully responsible to the Funds Trust for the acts and omissions of any such person or persons as it is for its own acts and omissions.

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Administrator shall receive from the Funds each Trust such compensation for the Administrator's ’s services provided pursuant to this Agreement as may be agreed to from time to time in a written fee schedule approved by the parties and initially set forth in the Fee Schedule to this Agreement. The fees are accrued daily and billed monthly and shall be due and payable upon receipt of the invoice. Upon the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be payable upon the date of termination of this Agreement. In addition, the Funds Trusts shall reimburse the Administrator for its reasonable and fully documented out-of-pocket costs incurred in connection with this Agreement. The Funds Trusts agree promptly to reimburse the Administrator for any equipment and supplies specially ordered by or for the Funds a Trust through the Administrator and for any other expenses not contemplated by this Agreement that the Administrator may incur on the Funds' a Trust’s behalf or at the Funds' Trust’s request or with the Funds' Trust’s consent. All rights of compensation and expense reimbursement under this Agreement for services performed shall survive the termination of this Agreement. Each Fund Trust acknowledges and agrees that it will bear all expenses that are incurred in its operation and not specifically assumed by the Administrator. Expenses to be borne by the FundsTrusts, include, but are not limited to: organizational expenses; cost of services of independent accountants and outside legal and tax counsel (including such counsel's ’s review of a Fund's the Trusts’ registration statement, proxy materials, federal and state tax qualification as a regulated investment company and other reports and materials prepared by the Administrator under this Agreement); cost of any services contracted for by a Trust or the Funds Trusts directly from parties other than the Administrator; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the Fundsa Trust; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its operation; costs incidental to any meetings of shareholders including, but not limited to, legal and accounting fees, proxy filing fees and the costs of preparation, printing and mailing of any proxy materials; costs incidental to Board meetings, including fees and expenses of Board members; the salary and expenses of any officer, director\trustee or employee of the Fundseach Trust; costs incidental to the preparation, printing and distribution of the Funds' each Trust’s registration statements and any amendments thereto and shareholder reports; cost of typesetting and printing of prospectuses; cost of preparation and filing of the Funds' each Trust’s tax returns, Form N-1A or N-2 N-2, Form N-PX, Form N-CSR, Form N-Q and Form N-SAR, and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; fidelity bond and directors' ’ and officers' ’ liability insurance; and cost of independent pricing services used in computing each Fund's Trust’s net asset value. The Administrator is authorized to and may employ or associate with such person or persons as the Administrator may deem desirable to assist it in performing its duties under this Agreement; provided, however, that the compensation of such person or persons shall be paid by the Administrator and that the Administrator shall be as fully responsible to the Funds Trusts for the acts and omissions of any such person or persons as it is for its own acts and omissions.

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Administrator shall receive from the Funds Fund such compensation for the Administrator's services provided pursuant to this Agreement as may be agreed to from time to time in a written fee schedule approved by the parties and initially set forth in the Fee Schedule B to this Agreement. The fees are accrued daily and to be billed monthly and shall be due and payable upon receipt of the invoice. Upon the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be payable upon the date of termination of this Agreement. In addition, the Funds Fund shall reimburse the Administrator for its reasonable out-of-pocket costs incurred in connection with this Agreement. The Funds agree Fund agrees to promptly to reimburse the Administrator for any equipment and supplies specially ordered by or for the Funds exclusive use of the Fund through the Administrator and for any other expenses not contemplated by this Agreement that the Administrator may incur on the Funds' Fund's behalf at the Funds' Fund's request or with as consented to by the Funds' consentFund. Each The Fund will bear all expenses that are incurred in its operation and not specifically assumed by the Administrator. Expenses to be borne by the FundsFund, include, but are not limited to: organizational expenses; cost of services of independent accountants and outside legal and tax counsel (including such counsel's review of a the Fund's registration statement, proxy materials, federal and state tax qualification as a regulated investment company and other reports and materials prepared by the Administrator under this Agreement); cost of any services contracted for by the Funds Fund directly from parties other than the Administrator; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the FundsFund; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its operation; costs incidental to any meetings of shareholders including, but not limited to, legal and accounting fees, proxy filing fees and the costs of preparation, printing and mailing of any proxy materials; costs incidental to Board meetings, including fees and expenses of Board members; the salary and expenses of any officer, director\trustee or employee of the FundsFund; costs incidental to the preparation, printing and distribution of the Funds' Fund's registration statements and any amendments thereto and shareholder reports; cost of typesetting and printing of prospectuses; cost of preparation and filing of the Funds' Fund's tax returns, Form N-1A or N-2 and Form N-SAR, and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; fidelity bond and directors' and officers' liability insurance; and cost of independent pricing services used in computing each the Fund's net asset value. The Administrator is authorized to and may employ or associate with such person or persons as the Administrator may deem desirable to assist it in performing its duties under this Agreement; provided, however, that the compensation of such person or persons shall be paid by the Administrator and that the Administrator shall be as fully responsible to the Funds Fund for the acts and omissions of any such person or persons as it is for its own acts and omissions.

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Administrator shall receive from the Funds Company such compensation for the Administrator's services provided pursuant to this Agreement as may be agreed to from time to time in a written fee schedule approved by the parties and initially set forth in the Fee Schedule to this Agreement. The fees are accrued daily and billed monthly and shall be due and payable upon receipt of the invoice. Upon the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be payable upon the date of termination of this Agreement. In addition, the Funds Company shall reimburse the Administrator for its out-of-pocket costs incurred in connection with this Agreement. The Funds agree Company agrees promptly to reimburse the Administrator for any equipment and supplies specially ordered by or for the Funds Company through the Administrator and for any other expenses not contemplated by this Agreement that the Administrator may incur on the Funds' Company's behalf at the Funds' Company's request or with the Funds' Company's consent. Each Fund The Company will bear all expenses that are incurred in its operation and not specifically assumed by the Administrator. Expenses to be borne by the FundsCompany, include, but are not limited to: organizational expenses; cost of services of independent accountants and outside legal and tax counsel (including such counsel's review of a Fundthe Company's registration statement, proxy materials, federal and state tax qualification as a regulated investment company and other reports and materials prepared by the Administrator under this Agreement); cost of any services contracted for by the Funds Company directly from parties other than the Administrator; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the FundsCompany; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its operation; costs incidental to any meetings of shareholders including, but not limited to, legal and accounting fees, proxy filing fees and the costs of preparation, printing and mailing of any proxy materials; costs incidental to Board meetings, including fees and expenses of Board members; the salary and expenses of any officer, director\trustee or employee of the FundsCompany; costs incidental to the preparation, printing and distribution of the Funds' Company's registration statements and any amendments thereto and shareholder reports; cost of typesetting and printing of prospectuses; cost of preparation and filing of the Funds' Company's tax returns, Form N-1A or N-2 and Form N-SAR, and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; fidelity bond and directors' and officers' liability insurance; and cost of independent pricing services used in computing each Fundthe Company's net asset value. The Administrator is authorized to and may employ or associate with such person or persons as the Administrator may deem desirable to assist it in performing its duties under this Agreement; provided, however, that the compensation of such person or persons shall be paid by the Administrator and that the Administrator shall be as fully responsible to the Funds Company for the acts and omissions of any such person or persons as it is for its own acts and omissions.

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Administrator shall receive from the Funds Fund such compensation for the Administrator's services provided pursuant to this Agreement as may be agreed to from time to time in a written fee schedule approved by the parties and initially set forth in the Fee Schedule to this Agreement. The fees are accrued daily and billed monthly and shall be due and payable upon receipt of the invoice. Upon the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be payable upon the date of termination of this Agreement. In addition, the Funds Fund shall reimburse the Administrator for its reasonable out-of-pocket costs incurred in connection with this Agreement. The Funds agree Fund agrees promptly to reimburse the Administrator for any equipment and supplies specially ordered by or for the Funds exclusive use of the Fund through the Administrator and for any other expenses not contemplated by this Agreement that the Administrator may incur on the Funds' Fund's behalf at the Funds' Fund's request or with the Funds' Fund's consent. Each The Fund will bear all expenses that are incurred in its operation and not specifically assumed by the Administrator. Expenses to be borne by the FundsFund, include, but are not limited to: organizational expenses; cost of services of independent accountants and outside legal and tax counsel (including such counsel's review of a the Fund's registration statement, proxy materials, federal and state tax qualification as a regulated investment company and any other reports and materials prepared by the Administrator under this Agreement); cost of any services contracted for by the Funds Fund directly from parties other than the Administrator; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the FundsFund; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its the Fund's operation; costs incidental to any meetings of shareholders including, but not limited to, legal and accounting fees, proxy filing fees and the costs of preparation, printing and mailing of any proxy materials; costs incidental to Board meetings, including fees and expenses of Board members; the salary and expenses of any officer, director\trustee director or employee of the FundsFund; costs incidental to the preparation, printing and distribution of the Funds' Fund's registration statements and any amendments thereto and shareholder reports; cost of typesetting and printing of prospectuses; cost of preparation and filing of the Funds' Fund's tax returns, Form N-1A or N-2 and Form N-SAR, and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; fidelity bond and directors' and officers' liability insurance; and cost of independent pricing services used in computing each the Fund's net asset value. The Administrator is authorized to and may employ or associate with such person or persons as the Administrator may deem desirable to assist it in performing its duties under this Agreement; provided, however, that the compensation of such person or persons shall be paid by the Administrator and that the Administrator shall be as fully responsible to the Funds Fund for the acts and omissions of any such person or persons as it is for its own acts and omissions.

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Administrator shall receive from the Funds such be entitled to reasonable compensation for the its services and expenses as Administrator's services provided pursuant to this Agreement , as may be agreed to upon from time to time in a written fee schedule approved by between the parties Fund and initially set forth in the Fee Schedule to Administrator. All rights of compensation and expense reimbursement under this Agreement. The fees are accrued daily and billed monthly and shall be due and payable upon receipt Agreement for services performed as of the invoice. Upon termination date shall survive the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be payable upon the date of termination of this Agreement. In addition, the Funds shall reimburse the Administrator for its out-of-pocket costs incurred in connection with this Agreement. The Funds agree promptly to reimburse the Administrator for any equipment and supplies specially ordered by or for the Funds through the Administrator and for any other expenses not contemplated by this Agreement that the Administrator may incur on the Funds' behalf at the Funds' request or with the Funds' consent. Each Fund will bear all expenses that are incurred in its operation and not specifically assumed by the Administrator. Expenses to be borne by the Funds, Fund include, but are not limited to: organizational expenses; cost of services of the Fund’s independent accountants or other accountants and outside legal and tax counsel advisers (including review, if any, by such counsel's review accountants and advisers of a Fund's registration statementthe Registration Statement, Form N-CSR, Form N-Q, Form N-PX, Form N-SAR, proxy materials, federal and state tax qualification as a regulated investment company and other reports notices, registrations, reports, filings and materials prepared by the Administrator under this Agreement); cost of any services contracted for by the Funds Fund directly from parties other than the Administrator; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the FundsFund; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its operation; costs incidental to any meetings of shareholders including, but not limited to, legal and accounting fees, proxy filing fees and the costs of preparationpreparation (e.g., printing typesetting, XBRL-tagging, page changes and all other print vendor and EXXXX charges, collectively referred to herein as “Preparation”), printing, distribution and mailing of any proxy materials; costs incidental to Board meetings, including fees and expenses of Board members; the salary and expenses of any officer, director\trustee director or employee of the FundsFund; costs incidental to the preparationof Preparation, printing printing, distribution and distribution mailing, as applicable, of the Funds' registration statements Registration Statement and any amendments and supplements thereto and shareholder reports; cost of typesetting and printing of prospectuses; cost of preparation Preparation and filing of the Funds' Fund’s tax returns, Form N-1A or N-2 N-2, Form N-CSR, Form N-Q, Form N-PX and Form N-SAR, and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; the cost of fidelity bond and directors' and officers' D&O/E&O liability insurance; and the cost of independent pricing services used in computing each the Fund's ’s net asset value. The Administrator is authorized to and may employ employ, associate or associate contract with such person or persons as the Administrator may deem desirable to assist it the Administrator in performing its duties under this Agreement; provided, however, that the compensation of such person or persons shall be paid by the Administrator and that the Administrator shall be as fully responsible to the Funds Fund for the acts and omissions of any such person or persons as it is for its own acts and omissions.

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Administrator shall receive from the Funds Fund such compensation for the Administrator's services provided pursuant to this Agreement as may be agreed to from time to time in a written fee schedule approved by the parties and initially set forth in the Fee Schedule B to this Agreement. The fees are accrued daily and billed monthly and shall be due and payable upon receipt of the invoice. Upon the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be payable upon the date of termination of this Agreement. In addition, the Funds Fund shall reimburse the Administrator for its out-of-pocket costs incurred in connection with this Agreement. The Funds agree Fund agrees promptly to reimburse the Administrator for any equipment and supplies specially ordered by or for the Funds Fund through the Administrator and for any other expenses not contemplated by this Agreement that the Administrator may incur on the Funds' Fund's behalf at the Funds' Fund's request or with the Funds' Fund's consent. Each The Fund will bear all expenses that are incurred in its operation and not specifically assumed by the Administrator. Expenses to be borne by the FundsFund, include, but are not limited to: organizational expenses; cost of services of independent accountants and outside legal and tax counsel (including such counsel's review of a the Fund's registration statement, proxy materials, federal and state tax qualification as a regulated investment company and other reports and materials prepared by the Administrator under this Agreement); cost of any services contracted for by the Funds Fund directly from parties other than the Administrator; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the FundsFund; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its operation; costs incidental to any meetings of shareholders including, but not limited to, legal and accounting fees, proxy filing fees and the costs of preparationpreparation (excluding preparation as provided in Section 5y), printing and mailing of any proxy materials; costs incidental to Board meetingsmeetings other than the costs of preparation of the agenda and background materials, including fees and expenses of Board members; the salary and expenses of any officer, director\trustee or employee of the FundsFund; costs incidental to the preparationpreparation (excluding preparation as provided in Section 5x), printing and distribution of the Funds' Fund's registration statements and any amendments thereto and shareholder reports; cost of typesetting and printing of prospectuses; cost of preparation (excluding preparation as provided in Section 5x) and filing of the Funds' Fund's tax returns, Form N-1A or N-2 and Form N-SAR, and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; fidelity bond and directors' and officers' liability insurance; and cost of independent pricing services used in computing each the Fund's net asset value. The Administrator is authorized to and may employ or associate with such person or persons as the Administrator may deem desirable to assist it in performing its duties under this Agreement; provided, however, that the compensation of such person or persons shall be paid by the Administrator and that the Administrator shall be as fully responsible to the Funds Fund for the acts and omissions of any such person or persons as it is for its own acts and omissions.

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Administrator shall receive from the Funds Company such compensation for the Administrator's ’s services provided pursuant to this Agreement as may be agreed to from time to time in a written fee schedule approved by the parties and initially set forth in the Fee Schedule fee schedule to this Agreement. The fees are accrued daily and billed monthly and shall be due and payable upon receipt of the invoice. Upon the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be payable upon the date of termination of this Agreement. In addition, the Funds Company shall reimburse the Administrator for its out-of-pocket costs incurred in connection with this Agreement. All rights of compensation and expense reimbursement under this Agreement for services performed shall survive the termination of this Agreement. The Funds agree Company agrees promptly to reimburse the Administrator for any equipment and supplies specially ordered by or for the Funds Company through the Administrator and for any other expenses not contemplated by this Agreement that the Administrator may incur on the Funds' Company’s behalf or at the Funds' Company’s request or with the Funds' Company’s consent. Each Fund The Company acknowledges and agrees that the Company will bear all expenses that are incurred in its the operation of the Company and not specifically assumed by the Administrator. Expenses to be borne by the Funds, Company include, but are not limited to: organizational expenses; cost of services of independent accountants and outside legal and tax counsel (including such counsel's ’s review of a Fund's registration statementthe Company’s Organizational Documents, proxy materials, federal tax and state tax qualification as a regulated investment company regulatory filings and other reports and materials prepared by the Administrator under this Agreement); cost of any services contracted for by the Funds Company directly from parties other than the Administrator; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the FundsCompany; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its operation; costs incidental to any meetings of shareholders including, but not limited to, legal and accounting fees, proxy filing fees and the costs of preparationpreparation (e.g., typesetting, XBRL-tagging, page changes and all other print vendor and XXXXX charges, collectively referred to herein as “Preparation”), printing and mailing of any proxy materials; costs incidental to Board meetings, including fees and expenses of Board members; the salary and expenses of any officer, director\trustee or employee of the FundsCompany; costs incidental to the preparationany Preparation, printing and distribution of the Funds' registration statements Company’s Organizational Documents and any amendments thereto and shareholder reports; cost of typesetting and printing of prospectuses; cost of preparation Preparation and filing of the Funds' Company’s tax returns, Form N-1A or N-2 and Form N-SAR, returns and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state applicable securities laws; any fidelity bond and or directors' ’ and officers' ’ liability insurance; and cost of any independent pricing services used in computing each Fund's the Company’s net asset value. The Administrator is authorized to and may employ or associate with such person or persons as the Administrator may deem desirable to assist it in performing its duties under this Agreement; provided, however, that the compensation of such person or persons shall be paid by the Administrator and that the Administrator shall be as fully responsible to the Funds Company for the acts and omissions of any such person or persons as it is for its own acts and omissions.

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Administrator shall receive from the Funds Trust such compensation for the Administrator's services provided pursuant to this Agreement as may be agreed to from time to time in a written fee schedule approved by the parties and initially set forth in the Fee Schedule to this Agreement. The fees are accrued daily and billed monthly and shall be due and payable upon receipt of the invoice. Upon the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be payable upon the date of termination of this Agreement. In addition, the Funds Trust shall reimburse the Administrator for its out-of-pocket costs incurred in connection with this Agreement. The Funds agree Trust agrees promptly to reimburse the Administrator for any equipment and supplies specially ordered by or for the Funds Trust through the Administrator Administrator, with the Trust's consent, and for any other expenses not contemplated by this Agreement that the Administrator may incur on the Funds' Trust's behalf at the Funds' Trust's request or with the Funds' Trust's consent. Each Fund The Trust will bear all expenses that are incurred in its operation and not specifically assumed by the Administrator. Expenses to be borne by the FundsTrust, include, but are not limited to: organizational expenses; cost of services of independent accountants and outside legal and tax counsel (including such counsel's review of a Fundthe Trust's registration statement, proxy materials, federal and state tax qualification as a regulated investment company and other reports and materials prepared by the Administrator under this Agreement); cost of any services contracted for by the Funds Trust directly from parties other than the Administrator; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the FundsTrust; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its operation; costs incidental to any meetings of shareholders including, but not limited to, legal and accounting fees, proxy filing fees and the costs of preparation, printing and mailing of any proxy materials; costs incidental to Board meetings, including fees and expenses of Board members; the salary and expenses of any officer, director\trustee or employee of the FundsTrust; costs incidental to the preparation, printing and distribution of the Funds' Trust's shareholder reports and registration statements and any amendments thereto thereto, including costs of preparation and shareholder reportsfiling under XXXXX; cost of typesetting and printing of prospectuses; cost of preparation and filing of the Funds' Trust's tax returns, Form N-1A or N-2 and Form N-SAR, and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; fidelity bond and directors' and officers' liability insurance; and cost of independent pricing services used in computing each Fundthe Trust's net asset value. The Administrator is authorized to and may employ or associate with such person or persons as the Administrator may deem desirable to assist it in performing its duties under this Agreement; provided, however, that the compensation of such person or persons shall be paid by the Administrator and that the Administrator shall be as fully responsible to the Funds Trust for the acts and omissions of any such person or persons as it is for its own acts and omissions.

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Administrator Bank shall receive from the Funds Company such compensation for the AdministratorBank's services provided pursuant to this Agreement as may be agreed to from time to time in a written fee schedule approved by the parties and initially set forth in the Fee Schedule to this Agreement. The fees are accrued daily and billed monthly and shall be due and payable upon receipt of the invoice. The Trust shall pay to the Bank any and all compensation and reimbursement of expense that are not paid to the Bank by the Company. Upon the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be payable upon the date of termination of this Agreement. In addition, the Funds Company shall reimburse the Administrator Bank for its out-of-pocket costs incurred in connection with this Agreement. The Funds agree Company agrees promptly to reimburse the Administrator Bank for any equipment and supplies specially ordered by or for the Funds Trust, or the Company, through the Administrator Bank and for any other expenses not contemplated by this Agreement that the Administrator Bank may incur on the Funds' behalf Trust's or Company’s behalf, at the Funds' Trust's or the Company’s request or with the Funds' Trust's or the Company’s consent. Each Fund The Trust will bear all expenses that are incurred in its operation and not specifically assumed by the AdministratorBank. Expenses to be borne by the FundsTrust, include, but are not limited to: organizational expenses; cost of services of independent accountants and outside legal and tax counsel (including such counsel's review of a Fundthe Trust's registration statement, proxy materials, federal and state tax qualification as a regulated investment company and other reports and materials prepared by the Administrator Bank under this Agreement); cost of any services contracted for by the Funds Trust directly from parties other than the AdministratorBank; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the FundsTrust; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its operation; costs incidental to any meetings of shareholders including, but not limited to, legal and accounting fees, proxy filing fees and the costs of preparation, filing (edgarization), printing and mailing of any proxy materials; costs incidental to Board meetings, including fees and expenses of Board members; the salary and expenses of any officer, director\trustee director/trustee or employee of the FundsTrust; costs incidental to the preparationpreparation (other than pursuant to Section 6w. of this Agreement), filing (edgarization), printing and distribution of the Funds' Trust's registration statements and any amendments thereto and shareholder reports; cost of typesetting and printing of prospectuses; cost of preparation and filing of the Funds' Trust's tax returns, Form N-1A or N-2 returns and Form N-SARSAR (other than pursuant to Section 6f. of this Agreement), and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; fidelity bond and directors' and officers' liability insurance; and cost of independent pricing services used in computing each Fundthe Trust's net asset value. The Administrator Bank is authorized to and may employ or associate with such person or persons as the Administrator Bank may deem desirable to assist it in performing its duties under this Agreement; provided, however, that the compensation of such person or persons shall be paid by the Administrator Bank and that the Administrator Bank shall be as fully responsible to the Funds Trust for the acts and omissions of any such person or persons as it is for its own acts and omissions.

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Administrator shall receive from the Funds Company such compensation for the Administrator's services provided pursuant to this Agreement as may be agreed to from time to time in a written fee schedule approved by the parties and initially set forth in the Fee Schedule to this Agreement. The fees are accrued daily and billed monthly and shall be due and payable upon receipt of the invoice. Upon the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be payable upon the date of termination of this Agreement. In addition, the Funds Company shall reimburse the Administrator for its reasonable out-of-pocket costs incurred in connection with this Agreement. The Funds agree Company agrees promptly to reimburse the Administrator for any equipment and supplies specially ordered by or for the Funds Company through the Administrator and for any other expenses not contemplated by this Agreement that the Administrator may incur on the Funds' Company's behalf at the Funds' Company's request or with the Funds' Company's consent. Each Fund The Company will bear all expenses that are incurred in its operation and not specifically assumed by the Administrator. Expenses to be borne by the FundsCompany, include, but are not limited to: organizational expenses; cost of services of independent accountants and outside legal and tax counsel retained by the Company (including such counsel's review of a Fundthe Company's registration statement, proxy materials, federal and state tax qualification as a regulated investment company and other reports and materials prepared by the Administrator under this Agreement); cost of any services contracted for by the Funds Company directly from parties other than the Administrator; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the FundsCompany; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its operation; costs incidental to any meetings of shareholders including, but not limited to, legal and accounting fees, proxy filing fees and the costs of preparation, printing and mailing of any proxy materials; costs incidental to Board meetings, including fees and expenses of Board members; the salary and expenses of any officer, director\trustee or employee of the FundsCompany; costs incidental to the preparation, printing and distribution of the Funds' Company's registration statements and any amendments thereto and shareholder reports; cost of typesetting and printing of prospectuses; cost of preparation and filing of the Funds' Company's tax returns, Form N-1A or N-2 and Form N-SAR, and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; fidelity bond and 5 directors' and officers' liability insurance; and cost of independent pricing services used in computing each Fundthe Company's net asset value. The Administrator is authorized to and may employ or associate with such person or persons as the Administrator may deem desirable to assist it in performing its duties under this Agreement; provided, however, that the compensation of such person or persons shall be paid by the Administrator and that the Administrator shall be as fully responsible to the Funds Company for the acts and omissions of any such person or persons as it is for its own acts and omissions.

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Administrator shall receive from the Funds Fund such compensation for the Administrator's ’s services provided pursuant to this Agreement as may be agreed to from time to time in a written fee schedule approved by the parties and initially set forth in the Fee Schedule to this Agreementparties. The fees are accrued daily and billed monthly and shall be due and payable upon receipt of the invoice. Upon the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be due and payable upon the date receipt of termination of this Agreementthe final invoice. In addition, the Funds Fund shall reimburse the Administrator for its reasonable out-of-pocket costs incurred in connection with this Agreement. All rights of compensation and expense reimbursement under this Agreement for services performed as of the termination date shall survive the termination of this Agreement. The Funds agree Fund agrees promptly to reimburse the Administrator for any equipment and supplies specially ordered by or for the Funds Fund through the Administrator and for any other expenses not contemplated by this Agreement that the Administrator may incur on the Funds' Fund’s behalf at the Funds' Fund’s request or with the Funds' Fund’s consent. Each The Fund will bear all expenses that are incurred in its operation and not specifically assumed by the Administrator. Expenses to be borne by the FundsFund, include, but are not limited to: organizational and offering expenses; cost of services of independent accountants and outside legal and tax counsel (including such counsel's review of a Fund's registration statement, proxy materials, federal and state tax qualification as a regulated investment company and other reports and materials prepared by the Administrator under this Agreement); cost of any services contracted for by the Funds Fund directly from parties other than the Administrator; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the FundsFund; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its operation; costs incidental to any meetings of shareholders equityholders including, but not limited to, legal and accounting fees, proxy filing fees and the costs of preparationpreparation (e.g., printing typesetting, XBRL-tagging, page changes and all other print vendor and XXXXX charges, collectively referred to herein as “Preparation”), printing, distribution and mailing of any proxy materials; costs incidental to Board meetings, including fees and expenses of Board members; the salary and expenses of any officer, director\trustee or employee of the FundsFund; costs incidental to the preparationof Preparation, printing printing, distribution and distribution mailing, as applicable, of the Funds' registration statements Fund’s Registration Statements, prospectuses, private placement memorandum, as applicable, and any amendments and supplements thereto and shareholder equityholder reports; cost costs of typesetting and printing of prospectuses; cost of preparation Preparation and filing of the Funds' Fund’s tax returns, Form N-1A or N-2 regulatory forms (including Forms 10-K, 10-Q and Form N8-SARK), and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; the cost of fidelity bond and directors' and officers' D&O/E&O liability insurance; and the cost of independent pricing services used in computing each the Fund's ’s net asset value. The Administrator is authorized to and may employ employ, associate or associate contract with such person or persons as the Administrator may deem desirable to assist it in performing its duties under this Agreement; provided, however, that the compensation of such person or persons shall be paid by the Administrator and that the Administrator shall be as fully responsible to the Funds Fund for the acts and omissions of any such person or persons as it is for its own acts and omissions.

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Administrator shall receive from the Funds Trust such compensation for the Administrator's services provided pursuant to this Agreement as may be agreed to from time to time in a written fee schedule approved by the parties and initially set forth in the Fee Schedule to this Agreement. The fees are accrued daily and billed monthly and shall be due and payable upon receipt of the invoice. Upon the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be payable upon the date of termination of this Agreement. In addition, the Funds Trust shall reimburse the Administrator for its reasonable out-of-pocket costs incurred in connection with the performance of this Agreement. The Funds agree Trust agrees promptly to reimburse the Administrator for any equipment and supplies specially ordered by or for the Funds Trust through the Administrator and for any other expenses not contemplated by this Agreement that the Administrator may incur on the Funds' Trust's behalf at the Funds' Trust's request or with the Funds' Trust's consent. Each Fund The Trust will bear all expenses that are incurred in its operation and not specifically assumed by the Administrator. Expenses to be borne by the FundsTrust, include, but are not limited to: organizational expenses; cost of services of independent accountants and outside legal and tax counsel (including such counsel's review of a Fundthe Trust's registration statement, proxy materials, federal and state tax qualification as a regulated investment company and other reports and materials prepared by the Administrator under this Agreement); cost of any services contracted for by the Funds Trust directly from parties other than the Administrator; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the FundsTrust; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its operation; costs incidental to any meetings of shareholders including, but not limited to, legal and accounting fees, proxy filing fees and the costs of preparation, printing and mailing of any proxy materials; costs incidental to Board meetings, including fees and expenses of Board members; the salary and expenses of any officer, director\trustee or employee of the FundsTrust; costs incidental to the preparation, printing and distribution of the Funds' Trust's registration statements and any amendments thereto and shareholder reports; cost of typesetting and printing of prospectuses; cost of preparation and filing of the Funds' tax returns, Form N-1A or N-2 and Form N-SAR, and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; fidelity bond and directors' and officers' liability insurance; and cost of independent pricing services used in computing each Fundthe Trust's net asset value. The Administrator is authorized to and may employ or associate with such person or persons as the Administrator may deem desirable to assist it in performing its duties under this Agreement; provided, however, that the compensation of such person or persons shall be paid by the Administrator and that the Administrator shall be as fully responsible to the Funds Trust for the acts and omissions of any such person or persons as it is for its own acts and omissions.

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Administrator shall receive from the Funds Trust such compensation for the Administrator's services provided pursuant to this Agreement as may be agreed to from time to time in a written fee schedule approved by the parties and described in the then current Prospectus, and initially set forth as an annual fee in the Custody, Accounting, Transfer Agent, Fund Administration and Advisory Fee Schedule to this Agreement. The fees are accrued daily and billed monthly and shall be due and payable upon receipt of the invoice. Upon the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be payable upon the date of termination of this Agreement. In addition, the Funds Trust shall reimburse the Administrator for its out-of-pocket costs incurred in connection with this Agreement. The Funds agree Trust agrees promptly to reimburse the Administrator for any equipment and supplies specially ordered by or for the Funds Trust through the Administrator and for any other expenses not contemplated by this Agreement that the Administrator may incur on the Funds' Trust's behalf at the Funds' Trust's request or with the Funds' Trust's consent. Each Fund The Trust will bear all expenses that are incurred in its operation and not specifically assumed by the AdministratorAdministrator or another party. Expenses to be borne by the FundsTrust, include, but are not limited to: organizational expenses; cost of services of independent accountants and outside legal and tax counsel (including such counsel's review of a Fundthe Trust's registration statement, proxy materials, federal and state tax qualification as a regulated investment company and other reports and materials prepared by the Administrator under this Agreement); cost of any services contracted for by the Funds Trust directly from parties other than the Administrator; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the FundsTrust; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its operation; costs incidental to any meetings of shareholders interestholders including, but not limited to, legal and accounting fees, proxy filing fees and the costs of preparation, printing and mailing of any proxy materials; costs incidental to Board meetings, including fees and expenses of Board members; the salary and expenses of any officer, director\trustee or employee of the FundsTrust; costs incidental to the preparation, printing and distribution of the Funds' Trust's registration statements and any amendments thereto and shareholder interestholder reports; cost of typesetting and printing of prospectuses; cost of preparation and filing of the Funds' Trust's tax returns, Form N-1A or N-2 and Form N-SAR, and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; fidelity bond and directors' and officers' liability insurance; and cost of independent pricing services used in computing each Fundthe Trust's net asset value. The Administrator is authorized to and may employ or associate with such person or persons as the Administrator may deem desirable to assist it in performing its duties under this Agreement; provided, however, that the compensation of such person or persons shall be paid by the Administrator and that the Administrator shall be as fully responsible to the Funds Trust for the acts and omissions of any such person or persons as it is for its own acts and omissions.

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Administrator shall receive from the Funds Fund such compensation for the Administrator's services provided pursuant to this Agreement as may be agreed to from time to time in a written fee schedule approved by the parties and initially set forth in the Fee Schedule to this Agreement. The fees are accrued daily and billed monthly and shall be due and payable upon receipt of the invoice. Upon the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be payable upon the date of termination of this Agreement. In addition, the Funds Fund shall reimburse the Administrator for its out-of-pocket costs incurred in connection with this Agreement. The Funds agree Fund agrees promptly to reimburse the Administrator for any equipment and supplies specially ordered by or for the Funds Fund through the Administrator and for any other expenses not contemplated by this Agreement that the Administrator may incur on the Funds' Fund's behalf at the Funds' Fund's request or with the Funds' Fund's consent. Each The Fund will bear all expenses that are incurred in its operation and not specifically assumed by the Administrator. Expenses to be borne by the FundsFund, include, but are not limited to: organizational expenses; cost of services of independent accountants and outside legal and tax counsel (including such counsel's review of a the Fund's registration statement, proxy materials, federal and state tax qualification as a regulated investment company and other reports and materials prepared by the Administrator under this Agreement); cost of any services contracted for by the Funds Fund directly from parties other than the Administrator; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the FundsFund; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its operation; costs incidental to any meetings of shareholders including, but not limited to, legal and accounting fees, proxy filing fees and the costs of preparationpreparation (excluding preparation as provided in Section 5y), printing and mailing of any proxy materials; costs incidental to Board meetingsmeetings other than the costs of preparation of the agenda and background materials, including fees and expenses of Board members; the salary and expenses of any officer, director\trustee or employee of the FundsFund; costs incidental to the preparationpreparation (excluding preparation as provided in Section 5x), printing and distribution of the Funds' Fund's registration statements and any amendments thereto and shareholder reports; cost of typesetting and printing of prospectuses; cost of preparation (excluding preparation as provided in Section 5x) and filing of the Funds' Fund's tax returns, Form N-1A or N-2 and Form N-SAR, and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; fidelity bond and directors' and officers' liability insurance; and cost of independent pricing services used in computing each the Fund's net asset value. The Administrator is authorized to and may employ or associate with such person or persons as the Administrator may deem desirable to assist it in performing its duties under this Agreement; provided, however, that the compensation of such person or persons shall be paid by the Administrator and that the Administrator shall be as fully responsible to the Funds Fund for the acts and omissions of any such person or persons as it is for its own acts and omissions.

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Administrator shall receive from the Funds Fund such compensation for the Administrator's services provided pursuant to this Agreement as may be agreed to from time to time in a written fee schedule approved by the parties and initially set forth in the Fee Schedule B to this Agreement. The fees are accrued daily and billed monthly and shall be due and payable upon receipt of the invoice. Upon the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be payable upon the date of termination of this Agreement. In addition, the Funds Fund shall reimburse the Administrator for its out-of-pocket costs incurred in connection with this Agreement. The Funds agree Fund agrees promptly to reimburse the Administrator for any equipment and supplies specially ordered by or for the Funds Fund through the Administrator and for any other expenses not contemplated by this Agreement that the Administrator may incur on the Funds' Fund's behalf at the Funds' Fund's request or with the Funds' Fund's consent. Each The Fund will bear all expenses that are incurred in its operation and not specifically assumed by the Administrator. Expenses to be borne by the FundsFund, include, but are not limited to: organizational expenses; cost of services of independent accountants and outside legal and tax counsel (including such counsel's review of a the Fund's registration statement, proxy materials, federal and state tax qualification as a regulated investment company and other reports and materials prepared by the Administrator under this Agreement); cost of any services contracted for by the Funds Fund directly from parties other than the Administrator; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the FundsFund; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its operation; costs incidental to any meetings of shareholders including, but not limited to, legal and accounting fees, proxy filing fees and the costs of preparation, printing and mailing of any proxy materials; costs incidental to Board meetings, including fees and expenses of Board members; the salary and expenses of any officer, director\trustee or employee of the FundsFund; costs incidental to the preparation, printing and distribution of the Funds' Fund's registration statements and any amendments thereto and shareholder reports; cost of typesetting and printing of prospectuses; cost of preparation and filing of the Funds' Fund's tax returns, Form N-1A or N-2 and Form N-SAR, and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; fidelity bond and directors' and officers' liability insurance; and cost of independent pricing services used in computing each the Fund's net asset value. The Administrator is authorized to and may employ or associate with such person or persons as the Administrator may deem desirable to assist it in performing its duties under this Agreement; provided, ,however, that the compensation of such person or persons shall be paid by the Administrator and that the Administrator C/M 10675.0002 350708.1 shall be as fully responsible to the Funds Fund for the acts and omissions of any such person or persons as it is for its own acts and omissions.

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Administrator shall receive from the Funds Company such compensation for the Administrator's services provided pursuant to this Agreement as may be agreed to from time to time in a written fee schedule approved by the parties and initially set forth in the Fee Schedule to this Agreement. The fees are accrued daily and billed monthly and shall be due and payable upon receipt of the invoice. Upon the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be payable upon the date of termination of this Agreement. In addition, the Funds Company shall reimburse the Administrator for its out-of-pocket costs incurred in connection with this Agreement. The Funds agree Company agrees promptly to reimburse the Administrator for any equipment and supplies specially ordered by or for the Funds Company through the Administrator and for any other expenses not contemplated by this Agreement that the Administrator may incur on the Funds' Company's behalf at the Funds' Company's request or with the Funds' Company's consent. Each Fund The Company will bear all expenses that are incurred in its operation and not specifically assumed by the Administrator. Expenses to be borne by the FundsCompany, include, but are not limited to: organizational expenses; cost of services of independent accountants and outside legal and tax counsel (including such counsel's review of a Fundthe Company's registration statement, proxy materials, federal and state tax qualification as a regulated investment company and other reports and materials prepared by the Administrator under this Agreement); cost of any services contracted for by the Funds Company directly from parties other than the Administrator; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the FundsCompany; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its operation; costs cost incidental to any meetings of shareholders including, but not limited to, legal and accounting fees, proxy filing fees and the costs of preparation, printing and mailing of any proxy materials; costs incidental to Board meetings, including fees and expenses of Board members; the salary and expenses of any officer, director\trustee director/trustee or employee of the FundsCompany; costs incidental to the preparation, printing and distribution of the Funds' Company's registration statements and any amendments thereto and shareholder reports; cost of typesetting and printing of prospectuses; cost of preparation and of filing of the Funds' Company's tax returns, Form N-1A or N-2 and Form form N-SAR, and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; fidelity bond and directors' and officers' ; liability insurance; and cost of independent pricing services used in computing each Fundthe Company's net asset value. The Administrator is authorized to and may employ or associate with such person or persons as the Administrator may deem desirable to assist it in performing its duties under this Agreement; provided, however, that the compensation of such person or persons shall be paid by the Administrator and that the Administrator shall be as fully responsible to the Funds Company for the acts and omissions of any such person or persons as it is for its own acts and omissions.

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Administrator shall receive from the Funds Fund such compensation for the Administrator's services provided pursuant to this Agreement as may be agreed to from time to time in a written fee schedule approved by the parties and initially set forth in the Fee Schedule B to this Agreement. The fees are accrued daily and billed monthly and shall be due and payable upon receipt of the invoice. Upon the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be payable upon the date of termination of this Agreement. In addition, the Funds Fund shall reimburse the Administrator for its out-of-pocket costs incurred in connection with this Agreement. The Funds agree Fund agrees promptly to reimburse the Administrator for any equipment and supplies specially ordered by or for the Funds Fund through the Administrator and for any other expenses not contemplated by this Agreement that the Administrator may incur on the Funds' Fund's behalf at the Funds' request or with the Funds' consentconsent of the Fund. Each Fund The Administrator will bear all not be responsible for any expenses that are incurred in its the operation of the Fund and not specifically assumed by the Administrator. Expenses to be borne by the Funds, Such expenses include, but are not limited to: organizational expenses; cost of services of independent accountants and outside legal and tax counsel (including such counsel's review of a the Fund's registration statement, proxy materials, federal and state tax qualification as a regulated investment company and other reports and materials prepared by the Administrator under this Agreement); cost of any services contracted for by the Funds Fund directly from parties other than through the Administrator; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the FundsFund; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its operation; costs incidental to any meetings of shareholders including, but not limited to, legal and accounting fees, proxy filing fees and the costs of preparation, printing and mailing of any proxy materials; costs incidental to Board meetings, including fees and expenses of Board members; the salary and expenses of any officer, director\trustee director/trustee or employee of the FundsFund; costs incidental to the preparation, printing and distribution of the Funds' Fund's registration statements and any amendments thereto and shareholder reports; cost of typesetting and printing of prospectuses; cost of preparation and filing of the Funds' Fund's tax returns, Form N-1A or N-2 and Form N-SAR, and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; fidelity bond and directors' and officers' liability insurance; and cost of independent pricing services used in computing each Fund's net asset value. The Administrator may from time to time sub-contract with one or more sub-administrators (each, a "Sub- Administrator") to provide some or all services hereunder, and is authorized to and may employ or associate with such person or persons as the Administrator may deem desirable to assist it in performing its duties under this Agreement; provided, however, that the compensation of such person or Sub- Administrators and persons shall be paid by the Administrator and that the Administrator shall be as fully responsible to the Funds Fund for the acts and omissions of any such person Sub-Administrators or persons as it is for its own acts and omissions.

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Administrator shall receive from the Funds Trust such compensation for the Administrator's services provided pursuant to this Agreement as may be agreed to from time to time in a written fee schedule approved by the parties and initially set forth in the Fee Schedule to this Agreement. The fees are accrued daily and billed monthly and shall be due and payable upon receipt of the invoice. Upon the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be payable upon the date of termination of this Agreement. In addition, the Funds Trust shall reimburse the Administrator for its out-of-pocket costs incurred in connection with this Agreement. The Funds agree Trust agrees promptly to reimburse the Administrator for any equipment and supplies specially ordered by or for the Funds Trust through the Administrator and for any other expenses not contemplated by this Agreement that the Administrator may incur on the Funds' Trust's behalf at the Funds' Trust's request or with the Funds' Trust's consent. Each Fund The Trust will bear all expenses that are incurred in its operation and not specifically assumed by the Administrator. Expenses to be borne by the FundsTrust, include, but are not limited to: organizational expenses; cost of services of independent accountants and outside legal and tax counsel (including such counsel's review of a Fundthe Trust's registration statement, proxy materials, federal and state tax qualification as a regulated investment company and other reports and materials prepared by the Administrator under this Agreement); cost of any services contracted for by the Funds Trust directly from parties other than the Administrator; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the FundsTrust; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its operation; costs incidental to any meetings of shareholders including, but not limited to, legal and accounting fees, proxy filing fees and the costs of preparation, printing and mailing of any proxy materials; costs incidental to Board meetings, including fees and expenses of Board members; the salary and expenses of any officer, director\trustee or employee of the FundsTrust; costs incidental to the preparation, printing and distribution of the Funds' Trust's registration statements and any amendments thereto and shareholder reports; cost of typesetting and printing of prospectuses; cost of preparation and filing of the Funds' Trust's tax returns, Form N-1A or N-2 and Form N-SAR, and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; fidelity bond and directors' and officers' liability insurance; and cost of independent pricing services used in computing each Fundthe Trust's net asset value. The Administrator is authorized to and may employ or associate with such person or persons as the Administrator may deem desirable to assist it in performing its duties under this Agreement; provided, however, that the compensation of such person or persons shall be paid by the Administrator and that the Administrator shall be as fully responsible to the Funds Trust for the acts and omissions of any such person or persons as it is for its own acts and omissions.

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Administrator shall receive from the Funds such be entitled to reasonable compensation for the its services and expenses as Administrator's services provided pursuant to this Agreement , as may be agreed to upon from time to time in a written fee schedule approved by between the parties Fund and initially set forth in the Fee Schedule to Administrator. All rights of compensation and expense reimbursement under this Agreement. The fees are accrued daily and billed monthly and shall be due and payable upon receipt Agreement for services performed as of the invoice. Upon termination date shall survive the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be payable upon the date of termination of this Agreement. In addition, the Funds shall reimburse the Administrator for its out-of-pocket costs incurred in connection with this Agreement. The Funds agree promptly to reimburse the Administrator for any equipment and supplies specially ordered by or for the Funds through the Administrator and for any other expenses not contemplated by this Agreement that the Administrator may incur on the Funds' behalf at the Funds' request or with the Funds' consent. Each Fund will bear all expenses that are incurred in its operation and not specifically assumed by the Administrator. Expenses to be borne by the Funds, Fund include, but are not limited to: organizational expenses; cost of services of the Fund’s independent accountants or other accountants and outside legal and tax counsel advisers (including review, if any, by such counsel's review accountants and advisers of a Fund's registration statementthe Registration Statement, Form N-CSR, Form N-Q, Form N-PX, Form N-SAR, proxy materials, federal and state tax qualification as a regulated investment company and other reports notices, registrations, reports, filings and materials prepared by the Administrator under this Agreement); cost of any services contracted for by the Funds Fund directly from parties other than the Administrator; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the FundsFund; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its operation; costs incidental to any meetings of shareholders including, but not limited to, legal and accounting fees, proxy filing fees and the costs of preparationpreparation (e.g., printing typesetting, XBRL-tagging, page changes and all other print vendor and XXXXX charges, collectively referred to herein as “Preparation”), printing, distribution and mailing of any proxy materials; costs incidental to Board meetings, including fees and expenses of Board members; the salary and expenses of any officer, director\trustee director or employee of the FundsFund; costs incidental to the preparationof Preparation, printing printing, distribution and distribution mailing, as applicable, of the Funds' registration statements Registration Statement and any amendments and supplements thereto and shareholder reports; cost of typesetting and printing of prospectuses; cost of preparation Preparation and filing of the Funds' Fund’s tax returns, Form N-1A or N-2 N-2, Form N-CSR, Form N-Q, Form N-PX and Form N-SAR, and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; the cost of fidelity bond and directors' and officers' D&O/E&O liability insurance; and the cost of independent pricing services used in computing each the Fund's ’s net asset value. The Administrator is authorized to and may employ employ, associate or associate contract with such person or persons as the Administrator may deem desirable to assist it the Administrator in performing its duties under this Agreement; provided, however, that the compensation of such person or persons shall be paid by the Administrator and that the Administrator shall be as fully responsible to the Funds Fund for the acts and omissions of any such person or persons as it is for its own acts and omissions.

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Sub-Administrator shall receive from the Funds Company such compensation for the Sub-Administrator's services provided pursuant to this Agreement ’s Services as may be agreed to from time to time in a written fee schedule approved by the parties and initially set forth in the Fee Schedule to this Agreementparties. The fees are accrued daily Administrator acknowledges and billed monthly and shall be due and payable upon receipt of the invoice. Upon the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be payable upon the date of termination of this Agreement. In addition, the Funds shall reimburse the Administrator for its out-of-pocket costs incurred in connection with this Agreement. The Funds agree promptly to reimburse the Administrator for any equipment and supplies specially ordered by or for the Funds through the Administrator and for any other expenses not contemplated by this Agreement agrees that the Administrator Company and/or the Administrator, as the case may incur on the Funds' behalf at the Funds' request or with the Funds' consent. Each Fund be, will bear all expenses that are incurred in its operation and not specifically assumed by the Sub-Administrator. Expenses to be borne by the FundsCompany and/or the Administrator, as the case may be, include, but are not limited to: organizational expenses; cost of services of independent accountants and outside legal and tax counsel (including such counsel's ’s review of a Fund's registration statementthe Registration Statement, proxy materials, federal and state tax qualification as a regulated investment company and other reports notices, registrations, reports, filings and materials prepared by the Administrator under this AgreementAdministrator); cost of any services contracted for by the Funds Company directly from parties other than the Administrator; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the FundsCompany; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its operation; costs incidental to any meetings of shareholders including, but not limited to, legal and accounting fees, proxy filing fees and the costs of preparationpreparation (e.g., printing typesetting, XBRL-tagging, page changes and all other print vendor and EXXXX charges, collectively referred to herein as “Preparation”), printing, distribution and mailing of any proxy materials; costs incidental to Board meetings, including fees and expenses of Board members; the salary and expenses of any officer, director\trustee or employee of the FundsCompany; costs incidental to the preparationof Preparation, printing printing, distribution and distribution mailing, as applicable, of the Funds' registration statements Company’s Registration Statements and any amendments and supplements thereto and shareholder reports; cost of typesetting and printing of prospectuses; cost of preparation Preparation and filing of the Funds' Company’s tax returns, Form N-1A or N-2 and Form N-SARthe Registration Statement, and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; the cost of fidelity bond and directors' and officers' D&O/E&O liability insurance; and the cost of independent pricing services used in computing each Fund's the Company’s net asset value. The Sub-Administrator is authorized to and may employ employ, associate or associate contract with such person or persons as the Sub-Administrator may deem desirable to assist it in performing its duties under this Agreementthe Services; provided, however, that the compensation of such person or persons shall be paid by the Sub-Administrator and that the Sub-Administrator shall be as fully responsible to the Funds Administrator for the acts and omissions of any such person or persons as it is for its own acts and omissions.

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Sub-Administrator shall receive from the Funds Administrator such compensation for the Sub-Administrator's services provided pursuant to this Agreement as may be agreed to from time to time in a written fee schedule approved by the parties and initially set forth in the Fee Schedule B to this Agreement. The fees are accrued daily and billed monthly and shall be due and payable upon receipt of the invoice. Upon the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be payable upon the date of termination of this Agreement. In addition, the Funds Administrator shall reimburse the Sub- Administrator for its out-of-pocket costs incurred in connection with this Agreement. The Funds agree Administrator agrees promptly to reimburse the Sub-Administrator for any equipment and supplies specially ordered by or for the Funds Fund through the Sub-Administrator and for any other expenses not contemplated by this Agreement that the Sub-Administrator may incur on the Funds' Fund's behalf at the Funds' request or with the Funds' consentconsent of the Fund or the Administrator. Each Fund The Sub-Administrator will bear all not be responsible for any expenses that are incurred in its the operation of the Fund and not specifically assumed by the Sub-Administrator. Expenses to be borne by the Funds, Such expenses include, but are not limited to: organizational expenses; cost of services of independent accountants and outside legal and tax counsel (including such counsel's review of a the Fund's registration statement, proxy materials, federal and state tax qualification as a regulated investment company and other reports and materials prepared by the Sub-Administrator under this Agreement); cost of any services contracted for by the Funds Fund directly from parties other than the Sub-Administrator; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the FundsFund; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its operation; costs incidental to any meetings of shareholders including, but not limited to, legal and accounting fees, proxy filing fees and the costs of preparation, printing and mailing of any proxy materials; costs incidental to Board meetings, including fees and expenses of Board members; the salary and expenses of any officer, director\trustee director/trustee or employee of the FundsFund; costs incidental to the preparation, printing and distribution of the Funds' Fund's registration statements and any amendments thereto and shareholder reports; cost of typesetting and printing of prospectuses; cost of preparation and filing of the Funds' Fund's tax returns, Form N-1A or N-2 and Form N-SAR, and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; fidelity bond and directors' and officers' liability insurance; and cost of independent pricing services used in computing each the Fund's net asset value. The Sub-Administrator is authorized to and may employ or associate with such person or persons as the Sub-Administrator may deem desirable to assist it in performing its duties under this Agreement; provided, however, that the compensation of such person or persons shall be paid by the Sub-Administrator and that the Sub-Administrator shall be as fully responsible to the Funds Fund and the Administrator for the acts and omissions of any such person or persons as it is for its own acts and omissions.

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Administrator shall receive from the Funds each Fund such compensation for the Administrator's services provided pursuant to this Agreement as may be agreed to from time to time in a written fee schedule approved by the parties and initially set forth in the Fee Schedule to this Agreement. The fees are accrued daily and billed monthly and shall be due and payable upon receipt of the invoice. Upon the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be payable upon the date of termination of this Agreement. In addition, the Funds each Fund shall reimburse the Administrator for its out-of-pocket costs incurred in connection with this Agreement. The Funds agree Each Fund agrees promptly to reimburse the Administrator for any equipment and supplies specially ordered by or for the Funds through the Administrator and for any other expenses not contemplated by this Agreement that the Administrator may incur on the Funds' behalf at the Funds' request or with the Funds' consent. Each Fund will bear all expenses that are incurred in its operation and not specifically assumed by the Administrator. Expenses to be borne by the Funds, include, but are not limited to: organizational expenses; cost of services of independent accountants and outside legal and tax counsel (including such counsel's review of a Fund's the Funds' registration statement, proxy materials, federal and state tax qualification as a regulated investment company and other reports and materials prepared by the Administrator under this Agreement); cost of any services contracted for by the Funds directly from parties other than the Administrator; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the Funds; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its operation; costs incidental to any meetings of shareholders including, but not limited to, legal and accounting fees, proxy filing fees and the costs of preparation, printing and mailing of any proxy materials; costs incidental to Board meetings, including fees and expenses of Board members; the salary and expenses of any officer, director\trustee trustee or employee of the Funds; costs incidental to the preparation, printing and distribution of the Funds' registration statements and any amendments thereto and shareholder reports; cost of typesetting and printing of prospectuses; cost of preparation and filing of the Funds' tax returns, Form N-1A or N-2 and Form N-SAR, and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; fidelity bond and directors' and officers' liability insurance; and cost of independent pricing services used in computing each Fund's the Funds' net asset value. The Administrator is authorized to and may employ or associate with such person or persons as the Administrator may deem desirable to assist it in performing its duties under this Agreement; provided, however, that the compensation of such person or persons shall be paid by the Administrator and that the Administrator shall be as fully responsible to the Funds each Fund for the acts and omissions of any such person or persons as it is for its own acts and omissions.

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Administrator shall receive from the Funds Company such compensation for the Administrator's services provided pursuant to this Agreement as may be agreed to from time to time in a written fee schedule approved by the parties and initially set forth in the Fee Schedule to this Agreement. The fees are accrued daily and billed monthly and shall be due and payable upon receipt of the invoice. Upon the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be payable upon the date of termination of this Agreement. In addition, the Funds Company shall reimburse the Administrator for its out-of-pocket costs incurred in connection with this Agreement. The Funds agree Company agrees promptly to reimburse the Administrator for any equipment and supplies specially ordered by or for the Funds Company through the Administrator and for any other expenses not contemplated by this Agreement that the Administrator may incur on the Funds' Company's behalf at the Funds' Company's request or with the Funds' Company's consent. Each Fund The Company will bear all expenses that are incurred in its operation and not specifically assumed by the Administrator. Expenses to be borne by the FundsCompany, include, but are not limited to: organizational expenses; cost of services of independent accountants and outside legal and tax counsel (including such counsel's review of a Fundthe Company's registration statement, proxy materials, federal and state tax qualification as a regulated investment company and other reports and materials prepared by the Administrator under this Agreement); cost of any services contracted for by the Funds Company directly from parties other than the Administrator; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the FundsCompany; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its operation; costs incidental to any meetings of shareholders including, but not limited to, legal and accounting fees, proxy filing fees and the costs of preparation, printing and mailing of any proxy materials; costs incidental to Board meetings, including fees and expenses of Board members; the salary and expenses of any officer, director\trustee or employee of the Funds; costs incidental to the preparation, printing and distribution of the Funds' registration statements and any amendments thereto and shareholder reports; cost of typesetting and printing of prospectuses; cost of preparation and filing of the Funds' tax returns, Form N-1A or N-2 and Form N-SAR, and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; fidelity bond and directors' and officers' liability insurance; and cost of independent pricing services used in computing each Fund's net asset value. The Administrator is authorized to and may employ or associate with such person or persons as the Administrator may deem desirable to assist it in performing its duties under this Agreement; provided, however, that the compensation of such person or persons shall be paid by the Administrator and that the Administrator shall be as fully responsible to the Funds for the acts and omissions of any such person or persons as it is for its own acts and omissions.,

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Administrator shall receive from the Funds Company such compensation for the Administrator's services provided pursuant to this Agreement as may be agreed to from time to time in a written fee schedule approved by the parties and initially set forth in the Fee separate fee schedule described on Schedule B attached to this Agreement. The fees are accrued daily and billed monthly and shall be due and payable upon receipt of the invoice. Upon the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be payable upon the date of termination of this Agreement. In addition, the Funds Company shall reimburse the Administrator for its out-of-pocket costs incurred in connection with this Agreement. The Funds agree Company agrees promptly to reimburse the Administrator for any equipment and supplies specially ordered by or for the Funds Company through the Administrator and for any other expenses not contemplated by this Agreement that the Administrator may incur on the Funds' Company's behalf at the Funds' Company's request or with the Funds' consentCompany's consent provided Administrator provides Company advance written notice detailing the equipment, supplies or expense and the anticipated costs. Each Fund The Company will bear all expenses that are incurred in its operation and not specifically assumed by the Administrator. Expenses to be borne by the FundsCompany, include, but are not limited to: organizational expenses; cost of services of independent accountants and outside legal and tax counsel (including such counsel's review of a Fundthe Company's registration statement, proxy materials, federal and state tax qualification as a regulated investment company and other reports and materials prepared by the Administrator under this Agreement); cost of any services contracted for by the Funds Company directly from parties other than the Administrator; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the FundsCompany; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its operation; costs incidental to any meetings of shareholders including, but not limited to, legal and accounting fees, proxy filing fees and the costs of preparation, printing and mailing of any proxy materials; costs incidental to Board meetings, including fees and expenses of Board members; the salary and expenses of any officer, director\trustee or employee of the FundsCompany; costs incidental to the preparation, printing and distribution of the Funds' Company's registration statements and any amendments thereto and shareholder reports; cost of typesetting and printing of prospectuses; cost of preparation and filing of the Funds' Company's tax returns, Form N-1A N-1A, N-2, N-4 or N-2 N-6 and Form N-SAR, and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; fidelity bond and directors' and officers' liability insurance; and cost of independent pricing services used in computing each Fundthe Company's net asset value. The Administrator is authorized to and may employ or associate with such person or persons as the Administrator may deem desirable to assist it in performing its duties under this Agreement; provided, however, that the compensation of such person or persons shall be paid for solely by the Administrator and that the Administrator shall be as fully responsible to the Funds Company for the acts and omissions of any such person or persons as it is for its own acts and omissions, and further provided Administrator provides advance written notice of its intent to do so.

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Administrator Service Agent shall receive from the Funds such compensation for the Administrator's Service Agent’s services provided pursuant to this Agreement as may be agreed to from time to time in a written fee schedule Fee Schedule approved by the parties and initially set forth in the Fee Schedule to this Agreementparties. The fees are accrued daily monthly and billed monthly and shall be due and payable upon receipt of the invoice. Upon the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be payable upon the date of termination of this Agreement. In addition, the Funds shall reimburse the Administrator Service Agent for its reasonable agreed upon out-of-pocket costs incurred in connection with this Agreement. All rights of compensation and expense reimbursement under this Agreement for services performed as of the termination date shall survive the termination of this Agreement. The Funds agree agrees promptly to reimburse the Administrator Service Agent for any equipment and supplies specially ordered by or for the Funds through the Administrator Service Agent and for any other expenses not contemplated by this Agreement that the Administrator Service Agent may incur on the Funds' behalf ’ behalf, all at the Funds' ’ request or with the Funds' ’ consent. Each Fund The Funds will bear all expenses that are incurred in its operation and not specifically assumed by the AdministratorService Agent. Expenses to be borne by the Funds, include, but are not limited to: organizational expenses; cost of services of independent accountants and the Funds’ outside legal and tax counsel (including such counsel's ’s review of a Fund's registration statementRegistration Statements, Form N-54-A, Form N-2, Forms 10-Q and 10-K and Form 8-K, proxy materials, federal and state tax qualification as a regulated investment company and other reports notices, registrations, reports, filings and materials prepared by the Administrator Service Agent under this Agreement); cost of any services contracted for by the Funds directly from parties other than the AdministratorService Agent; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the Funds; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its operation; costs incidental to any meetings of shareholders including, but not limited to, legal and accounting fees, proxy filing fees and the costs of preparationpreparation (e.g., printing typesetting, XBRL-tagging, page changes and all other print vendor and XXXXX charges, collectively referenced to herein as “Preparation”), printing, distribution and mailing of any proxy materials; costs incidental to Board meetings, including fees and expenses of Board members; the salary and expenses of any officer, director\trustee or employee of the Funds; costs incidental to the preparationof Preparation, printing printing, distribution and distribution mailing, as applicable, of the Funds' registration statements ’ Registration Statements and any amendments and supplements thereto and shareholder reports; cost of typesetting and printing of prospectuses; cost of preparation Preparation and filing of the Funds' ’ tax returns, Form N-1A or N-2 N-54-A, Form N-2, Forms 10-Q and 10-K and Form N8-SARK, and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; the cost of fidelity bond and directors' and officers' D&O/E&O liability insurance; and the cost of independent pricing services used in computing each the Fund's ’s net asset value. The Administrator Service Agent is authorized to and may employ employ, associate or associate contract with such person or persons as the Administrator Service Agent may deem desirable to assist it in performing its duties under this Agreement; provided, however, that the compensation of such person or persons shall be paid by the Administrator Service Agent and that the Administrator Service Agent shall be as fully responsible to the Funds for the acts and omissions of any such person or persons as it is for its own acts and omissions.

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Administrator shall receive from the Funds Trust such compensation for the Administrator's services provided pursuant to this Agreement as may be agreed to from time to time in a written fee schedule approved by the parties and initially set forth in the Fee Schedule to this Agreement. The fees are accrued daily and billed monthly and shall be due and payable upon promptly after receipt of the invoice. Upon the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be payable upon the date of termination of this Agreement. In addition, the Funds Trust shall reimburse the Administrator for its out-of-pocket costs incurred in connection with this Agreement, as may be agreed to by the parties from time to time. The Funds agree Trust agrees promptly to reimburse the Administrator for any equipment and supplies specially ordered by or for the Funds Trust through the Administrator and for any other expenses not contemplated by this Agreement that the Administrator may incur on the Funds' Trust's behalf at the Funds' Trust's request or with the Funds' Trust's consent. Each Fund The Trust will bear all expenses that are incurred in its operation and not specifically assumed by the Administrator. Expenses to be borne by the FundsTrust, include, but are not limited to: organizational expenses; cost of services of independent accountants and outside legal and tax counsel (including such counsel's review of a Fundthe Trust's registration statement, proxy materials, federal and state tax qualification as a regulated investment company and other reports and materials prepared by the Administrator under this Agreement); cost of any services contracted for by the Funds Trust directly from parties other than the Administrator; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the FundsTrust; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its operation; costs incidental to any meetings of shareholders including, but not limited to, legal and accounting fees, proxy filing fees and the costs of preparationpreparation (excluding preparation as provided in Section 5x) and EDGAR filing, printing and mailing of any proxy materials; costs coxxx incidental to Board meetings, including fees and expenses of Board members; the salary and expenses of any officer, director\trustee or employee of the FundsTrust, other than employees of the Administrator; costs incidental to the preparationpreparation (excluding preparation as provided in Section 5w) and EDGAR filing, printing and distribution of the Funds' registration Trust's rexxxxxation statements and any amendments thereto and shareholder reports; cost of typesetting and printing of prospectuses; cost of preparation (excluding preparation as provided in Section 5) and filing of the Funds' Trust's tax returns, Form N-1A or N-2 and Form N-SAR, and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; fidelity bond and directors' and officers' liability insurance; and cost of independent pricing services used in computing each Fundthe Trust's net asset value. The Administrator is authorized to and may employ or associate with such person or persons as the Administrator may deem desirable to assist it in performing its duties under this Agreement; provided, however, that the compensation of such person or persons shall be paid by the Administrator and that the Administrator shall be as fully responsible to the Funds Trust for the acts and omissions of any such person or persons as it is for its own acts and omissions.

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Administrator shall receive from the Funds Trust such compensation for the Administrator's services provided pursuant to this Agreement as may be agreed to from time to time in a written fee schedule approved by the parties and initially set forth in the Fee Schedule to this Agreement. The fees are accrued daily and billed monthly and shall be due and payable upon receipt of the invoice. Upon the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be payable upon the date of termination of this Agreement. In addition, the Funds Trust shall reimburse the Administrator for its out-of-pocket costs incurred in connection with this Agreement. The Funds agree Trust agrees promptly to reimburse the Administrator for any equipment and supplies specially ordered by or for the Funds Trust through the Administrator Administrator, with the Trust's consent, and for any other expenses not contemplated by this Agreement that the Administrator may incur on the Funds' Trust's behalf at the Funds' Trust's request or with the Funds' Trust's consent. Each Fund The Trust will bear all expenses that are incurred in its operation and not specifically assumed by the Administrator. Expenses to be borne by the FundsTrust, include, but are not limited to: organizational expenses; cost of services of independent accountants and outside legal and tax counsel (including such counsel's review of a Fundthe Trust's registration statement, proxy materials, federal and state tax qualification as a regulated investment company and other reports and materials prepared by the Administrator under this Agreement); cost of any services contracted for by the Funds Trust directly from parties other than the Administrator; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the FundsTrust; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its operation; costs incidental to any meetings of shareholders including, but not limited to, legal and accounting fees, proxy filing fees and the costs of preparation, printing and mailing of any proxy materials; costs incidental to Board meetings, including fees and expenses of Board members; the salary and expenses of any officer, director\trustee or employee of the FundsTrust; costs incidental to the preparation, printing and distribution of the Funds' Trust's shareholder reports and registration statements and any amendments thereto thereto, including costs of preparation and shareholder reportsfiling under EDGAR; cost of typesetting and printing of prospectuses; cost of preparation ox xxxparation and filing of the Funds' Trust's tax returns, Form N-1A or N-2 and Form N-SAR, and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; fidelity bond and directors' and officers' liability insurance; and cost of independent pricing services used in computing each Fundthe Trust's net asset value. The Administrator is authorized to and may employ or associate with such person or persons as the Administrator may deem desirable to assist it in performing its duties under this Agreement; provided, however, that the compensation of such person or persons shall be paid by the Administrator and that the Administrator shall be as fully responsible to the Funds Trust for the acts and omissions of any such person or persons as it is for its own acts and omissions.

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Sub-Administrator shall receive from the Funds Administrator such compensation for the Sub-Administrator's services provided pursuant to this Agreement as may be agreed to from time to time in a written fee schedule approved by the parties and initially set forth in the Fee Schedule B to this Agreement. The fees are accrued daily and billed monthly and shall be due and payable upon receipt of the invoice. Upon the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be payable upon the date of termination of this Agreement. In addition, the Funds Administrator shall reimburse the Administrator SubAdministrator for its out-of-pocket costs incurred in connection with this Agreement. The Funds agree Administrator agrees promptly to reimburse the Sub-Administrator for any equipment and supplies specially ordered by or for the Funds Fund through the Sub-Administrator and for any other expenses not contemplated by this Agreement that the Sub-Administrator may incur on the Funds' Fund's behalf at the Funds' request or with the Funds' consentconsent of the Fund or the Administrator. Each Fund The Sub-Administrator will bear all not be responsible for any expenses that are incurred in its the operation of the Fund and not specifically assumed by the Sub-Administrator. Expenses to be borne by the Funds, Such expenses include, but are not limited to: organizational expenses; cost of services of independent accountants and outside legal and tax counsel (including such counsel's review of a the Fund's registration statement, proxy materials, federal and state tax qualification as a regulated investment company and other reports and materials prepared by the Sub-Administrator under this Agreement); cost of any services contracted for by the Funds Fund directly from parties other than the Administrator or the Sub-Administrator; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the FundsFund; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its operation; costs incidental to any meetings of shareholders including, but not limited to, legal and accounting fees, proxy filing fees and the costs of preparation, printing and mailing of any proxy materials; costs incidental to Board meetings, including fees and expenses of Board members; the salary and expenses of any officer, director\trustee director/trustee or employee of the FundsFund; costs incidental to the preparation, printing and distribution of the Funds' Fund's registration statements and any amendments thereto and shareholder reports; cost of typesetting and printing of prospectuses; cost of preparation and filing of the Funds' Fund's tax returns, Form N-1A or N-2 and Form N-SAR, and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; fidelity bond and directors' and officers' liability insurance; and cost of independent pricing services used in computing each the Fund's net asset value. The Sub-Administrator is authorized to and may employ or associate with such person or persons as the Sub-Administrator may deem desirable to assist it in performing its duties under this Agreement; provided, ,however, that the compensation of such person or persons shall be paid by the Sub-Administrator and that the Sub-Administrator shall be as fully responsible to the Funds Fund and the Administrator for the acts and omissions of any such person or persons as it is for its own acts and omissions.

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Administrator shall receive from the Funds Fund such compensation for the Administrator's ’s services provided pursuant to this Agreement as may be agreed to from time to time in a written fee schedule Fee Schedule approved by the parties and initially set forth in the Fee Schedule to this Agreementparties. The fees are accrued daily and billed monthly and shall be due and payable upon receipt of the invoice. Upon the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be payable upon the date of termination of this Agreement. In addition, the Funds Fund shall reimburse the Administrator for its out-of-pocket costs incurred in connection with this Agreement, including reasonable counsel fees. All rights of compensation and expense reimbursement under this Agreement for services performed as of the termination date shall survive the termination of this Agreement. The Funds agree Fund agrees promptly to reimburse the Administrator for any equipment and supplies specially ordered by or for the Funds Fund through the Administrator and for any other expenses not contemplated by this Agreement that the Administrator may incur on the Funds' Fund’s behalf at the Funds' Fund’s request or with the Funds' Fund’s consent. Each The Fund will bear all expenses that are incurred in its operation and not specifically assumed by the Administrator. Expenses to be borne by the FundsFund, include, but are not limited to: organizational expenses; cost of services of independent accountants and outside legal and tax counsel (including such counsel's ’s review of a Fund's the registration statement, Form N-CSR, Form N-Q, Form N-PX, Form N-SAR, proxy materials, federal and state tax qualification as a regulated investment company and other reports notices, registrations, reports, filings and materials prepared by the Administrator under this Agreement); cost of any services contracted for by the Funds Fund directly from parties other than the Administrator; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the FundsFund; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its operation; costs incidental to any meetings of shareholders including, but not limited to, legal and accounting fees, proxy filing fees and the costs of preparationpreparation (e.g., printing typesetting, XBRL-tagging, page changes and all other print vendor and XXXXX charges, collectively referred to herein as “Preparation”), printing, distribution and mailing of any proxy materials; costs incidental to Board meetings, including fees and expenses of Board members; the salary and expenses of any officer, director\trustee or employee of the FundsFund; costs incidental to the preparationof Preparation, printing printing, distribution and distribution mailing, as applicable, of the Funds' Fund’s registration statements and any amendments and supplements thereto and shareholder reports; cost of typesetting and printing of prospectuses; cost of preparation Preparation and filing of the Funds' Fund’s tax returns, Form N-1A or N-2 N-1A, Form N-CSR, Form N-Q, Form N-PX and Form N-SAR, and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; the cost of fidelity bond and directors' and officers' D&O/E&O liability insurance; and the cost of independent pricing services used in computing each Fund's the Fund(s)’ net asset value. The Administrator is authorized to and may employ employ, associate or associate contract with such person or persons as the Administrator may deem desirable to assist it in performing its duties under this Agreement; provided, however, that the compensation of such person or persons shall be paid by the Administrator and that the Administrator shall be as fully responsible to the Funds Fund for the acts and omissions of any such person or persons as it is for its own acts and omissions.

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Sub-Administrator shall receive from the Funds Adviser such compensation for the Sub-Administrator's ’s services provided pursuant to this Agreement as may be agreed to from time to time in a written fee schedule approved by the parties and initially as set forth in the Fee on Schedule C to this Agreement. The fees are accrued daily and billed monthly and shall be due and payable upon receipt of the invoice. Upon the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be payable upon the date of termination of this Agreement. In addition, the Funds Adviser shall reimburse the Sub-Administrator for its out-of-pocket costs incurred in connection with this Agreement. The Funds agree promptly to reimburse the Administrator for any equipment Adviser acknowledges and supplies specially ordered by or for the Funds through the Administrator and for any other expenses not contemplated by this Agreement agrees that the Administrator Trust and/or the Adviser, as the case may incur on the Funds' behalf at the Funds' request or with the Funds' consent. Each Fund will be, shall bear all ordinary operating expenses that are incurred in its operation of each Fund, including ordinary legal and not specifically assumed by the Administratoraudit expenses. Expenses to be borne by the Funds, Such expenses will include, but are not limited to: organizational expenses; cost of services of independent accountants and outside legal and tax counsel (including such counsel's ’s review of a Fund's the Trust’s registration statement, proxy materials, federal and state tax qualification as a regulated investment company and other reports and materials prepared by the Sub-Administrator under this Agreement); cost of any services contracted for by the Funds Trust or Adviser directly from parties other than the Sub-Administrator; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the FundsTrust; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its operation; costs incidental to any meetings of shareholders including, but not limited to, legal and accounting fees, proxy filing fees and the costs of preparation, printing and mailing of any proxy materials; costs incidental to Board meetings, including fees and expenses of Board members; the salary and expenses of any officer, director\trustee or employee of the FundsTrust; costs incidental to the preparation, printing and distribution of the Funds' Trust’s registration statements and any amendments thereto and shareholder reports; cost of typesetting and printing of prospectuses; cost of preparation and filing of the Funds' Trust’s tax returns, Form N-1A or N-2 and Form N-SAR, and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; fidelity bond and directors' ’ and officers' ’ liability insurance; and cost of independent pricing services used in computing each Fund's the Trust’s net asset value. The Trust, on behalf of each Fund, agrees promptly to reimburse the Sub-Administrator for any extraordinary expenses that the Sub-Administrator may incur on such Fund’s behalf at the Trust’s or the Adviser’s request or with the Trust’s or the Adviser’s consent. The Sub-Administrator is authorized to and may employ or associate with such person or persons as the Sub-Administrator may deem desirable to assist it in performing its duties under this Agreement; provided, however, that the compensation of such person or persons shall be paid by the Sub-Administrator and that the Sub-Administrator shall be as fully responsible to the Funds Trust and the Adviser for the acts and omissions of any such person or persons as it is for its own acts and omissions.

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Administrator shall receive from the Funds Trust such compensation for the Administrator's services provided pursuant to this Agreement as may be agreed to from time to time in a written fee schedule approved by the parties and initially set forth in the Fee Schedule to this Agreement. The fees are accrued daily and billed monthly and shall be due and payable upon promptly after receipt of the invoice. Upon the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be payable upon the date of termination of this Agreement. In addition, the Funds Trust shall reimburse the Administrator for its out-of-pocket costs incurred in connection with this Agreement, as may be agreed to by the parties from time to time. The Funds agree Trust agrees promptly to reimburse the Administrator for any equipment and supplies specially ordered by or for the Funds Trust through the Administrator and for any other expenses not contemplated by this Agreement that the Administrator may incur on the Funds' Trust's behalf at the Funds' Trust's request or with the Funds' Trust's consent. Each Fund The Trust will bear all expenses that are incurred in its operation and not specifically assumed by the Administrator. Expenses to be borne by the FundsTrust, include, but are not limited to: organizational expenses; cost of services of independent accountants and outside legal and tax counsel (including such counsel's review of a Fundthe Trust's registration statement, proxy materials, federal and state tax qualification as a regulated investment company and other reports and materials prepared by the Administrator under this Agreement); cost of any services contracted for by the Funds Trust directly from parties other than the Administrator; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the FundsTrust; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its operation; costs incidental to any meetings of shareholders including, but not limited to, legal and accounting fees, proxy filing fees and the costs of preparationpreparation (excluding preparation as provided in Section 5x) and XXXXX filing, printing and mailing of any proxy materials; costs incidental to Board meetings, including fees and expenses of Board members; the salary and expenses of any officer, director\trustee or employee of the FundsTrust, other than employees of the Administrator; costs incidental to the preparationpreparation (excluding preparation as provided in Section 5w) and XXXXX filing, printing and distribution of the Funds' Trust's registration statements and any amendments thereto and shareholder reports; cost of typesetting and printing of prospectuses; cost of preparation (excluding preparation as provided in Section 5) and filing of the Funds' Trust's tax returns, Form N-1A or N-2 and Form N-SAR, and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; fidelity bond and directors' and officers' liability insurance; and cost of independent pricing services used in computing each Fundthe Trust's net asset value. The Administrator is authorized to and may employ or associate with such person or persons as the Administrator may deem desirable to assist it in performing its duties under this Agreement; provided, however, that the compensation of such person or persons shall be paid by the Administrator and that the Administrator shall be as fully responsible to the Funds Trust for the acts and omissions of any such person or persons as it is for its own acts and omissions.

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Sub-Administrator shall receive from the Funds Administrator with respect to the Company such compensation for the Sub-Administrator's ’s services provided pursuant to this Agreement as may be agreed to from time to time in a written fee schedule approved by the parties and initially set forth in the Fee Schedule to this Agreement. The fees are accrued daily and billed monthly and shall be due and payable upon receipt of the invoice. Upon the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be payable upon the date of termination of this AgreementParties. In addition, the Funds Administrator shall reimburse the Sub-Administrator for its reasonable out-of-pocket costs incurred in connection with this Agreement. All rights of compensation and expense reimbursement under this Agreement for services performed as of the termination date shall survive the termination of this Agreement. The Funds agree Administrator agrees promptly to reimburse the Sub-Administrator for any equipment and supplies specially ordered by or for the Funds Company through the Sub-Administrator and for any other expenses not contemplated by this Agreement that the Sub-Administrator may incur on the Funds' behalf Administrator’s or the Company’s behalf, in all such cases, at the Funds' request or with consent of an officer of the Funds' consentCompany or the Administrator or any other person duly authorized by the Company’s board of directors. Each Fund The Administrator acknowledges and agrees that the Company will bear all expenses that are incurred in its the operation of the Company and not specifically assumed by the Sub-Administrator. Expenses to be borne by the Funds, Company include, but are not limited to: organizational and offering expenses; cost of services of independent accountants and outside legal and tax counsel (including such counsel's review of a Fund's registration statement, proxy materials, federal and state tax qualification as a regulated investment company and other reports and materials prepared by the Administrator under this Agreement); cost of any services contracted for by the Funds Administrator or the Company directly from parties other than the Sub-Administrator; cost of trading operations brokerage fees and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the Fundscommissions; investment advisory fees; taxes, ; insurance premiums and other fees and expenses applicable to its operationpremiums; costs incidental to any meetings of shareholders includingstockholders; printing, but not limited to, legal and accounting fees, proxy filing fees and the costs of preparation, printing distribution and mailing of any proxy materials; costs incidental to Board meetings, including independent director fees and expenses of Board members; the salary and expenses of any officer, director\trustee or employee of the Fundsexpenses; costs incidental to the preparation, printing and distribution of the Funds' registration statements and any amendments thereto and shareholder reports; cost of typesetting and printing of prospectuses; cost of preparation and filing of the Funds' tax returns, Form N-1A or N-2 and Form N-SAR, and all notices, registrations and amendments associated with the Company’s reporting and compliance obligations under the 1940 Act and applicable U.S. federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; the cost of fidelity bond and directors' and officers' liability Directors & Officers/Errors & Omissions (“D&O/E&O”) insurance; and the cost of independent pricing services used in computing each Fund's the Company’s net asset value. The Sub-Administrator is authorized to and may employ employ, associate or associate contract with such person or persons as the Sub-Administrator may deem desirable to assist it in performing its duties under this Agreement; provided, however, that the compensation of such person or persons shall be paid by the Administrator Sub-Administrator, and that the Sub-Administrator shall be as fully responsible to the Funds Administrator for the acts and omissions of any such person or persons as it is for its own acts and omissions.

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Sub-Administrator shall receive from the Funds FCM such compensation for the Sub-Administrator's services provided pursuant to this Agreement as may be agreed to from time to time in a written fee schedule approved by the parties and initially set forth in the Fee Schedule to this Agreement. The fees are accrued daily and billed monthly and shall be due and payable upon receipt of the invoice. Upon the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be payable upon the date of termination of this Agreement. In addition, the Funds FCM shall reimburse the Sub-Administrator for its reasonable out-of-pocket costs incurred in connection with the performance of this Agreement. The Funds agree FCM agrees promptly to reimburse the Sub-Administrator for any equipment and supplies specially ordered by or for the Funds Trust through the Sub-Administrator and for any other expenses not contemplated by this Agreement that the Sub-Administrator may incur on the Funds' Trust's behalf at FCM's or the Funds' Trust's request or with FCM's or the Funds' Trust's consent. Each Fund The Trust will bear all expenses that are incurred in its operation and not specifically assumed by the AdministratorSub-Administrator or FCM. Expenses to be borne by the FundsTrust, include, but are not limited to: organizational expenses; cost of services of independent accountants and outside legal and tax counsel (including such counsel's review of a Fundthe Trust's registration statement, proxy materials, federal and state tax qualification as a regulated investment company and other reports and materials prepared by the Sub-Administrator under this Agreement); cost of any services contracted for by the Funds Trust directly from parties other than the Sub-Administrator; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the FundsTrust; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its operation; costs incidental to any meetings of shareholders including, but not limited to, legal and accounting fees, proxy filing fees and the costs of preparation, printing and mailing of any proxy materials; costs incidental to Board meetings, including fees and expenses of Board members; the salary and expenses of any officer, director\trustee director/trustee or employee of the FundsTrust; costs incidental to the preparation, printing and distribution of the Funds' Trust's registration statements and any amendments thereto and shareholder reports; cost of typesetting and printing of prospectuses; cost of preparation and filing of the Funds' tax returns, Form N-1A or N-2 and Form N-SAR, and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; fidelity bond and directors' and officers' liability insurance; and cost of independent pricing services used in computing each Fundthe Trust's net asset value. The Sub-Administrator is authorized to and may employ or associate with such person or persons as the Sub-Administrator may deem desirable to assist it in performing its duties under this Agreement; provided, however, that the compensation of such person or persons shall be paid by the Sub-Administrator and that the Sub-Administrator shall be as fully responsible to the Funds Trust for the acts and omissions of any such person or persons as it is for its own acts and omissions.

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Administrator shall receive from the Funds Fund such compensation for the Administrator's services provided pursuant to this Agreement as may be agreed to from time to time in a written fee schedule approved by the parties and initially set forth in the Fee Schedule B to this Agreement. The fees are accrued daily and billed monthly and shall be due and payable upon receipt of the invoice. Upon the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be payable upon the date of termination of this Agreement. In addition, the Funds Fund shall reimburse the Administrator for its out-of-pocket costs incurred in connection with this Agreement. The Funds agree Fund agrees promptly to reimburse the Administrator for any equipment and supplies specially ordered by or for the Funds Fund through the Administrator and for any other expenses not contemplated by this Agreement that the Administrator may incur on the Funds' Fund's behalf at the Funds' Fund's request or with the Funds' Fund's consent. Each The Fund will bear all expenses that are incurred in its operation and not specifically assumed by the Administrator. Expenses to be borne by the FundsFund, include, but are not limited to: organizational expenses; cost of services of independent accountants and outside legal and tax counsel (including such counsel's review of a the Fund's registration statement, proxy materials, federal and state tax qualification as a regulated investment company and other reports and materials prepared by the Administrator under this Agreement); cost of any services contracted for by the Funds Fund directly from parties other than the Administrator; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the FundsFund; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its operation; costs incidental to any meetings of shareholders including, but not limited to, legal and accounting fees, proxy filing fees and the costs of preparation, printing and mailing of any proxy materials; costs incidental to Board meetings, including fees and expenses of Board members; the salary and expenses of any officer, director\trustee director/trustee or employee of the FundsFund; costs incidental to the preparation, printing and distribution of the Funds' Fund's registration statements and any amendments thereto and shareholder reports; cost of typesetting and printing of prospectuses; cost of preparation and filing of the Funds' Fund's tax returns, Form N-1A or N-2 and Form N-SAR, and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; fidelity bond and directors' and officers' liability insurance; and cost of independent pricing services used in computing each the Fund's net asset value. The Administrator is authorized to and may employ or associate with such person or persons as the Administrator may deem desirable to assist it in performing its duties under this Agreement; provided, however, that the compensation of such person or persons shall be paid by the Administrator and that the Administrator shall be as fully responsible to the Funds Fund for the acts and omissions of any such person or persons as it is for its own acts and omissions.

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Administrator shall receive from the Funds Fund with respect to each Series such compensation for the Administrator's services provided pursuant to this Agreement as may be agreed to from time to time in a written fee schedule approved by the parties and initially set forth in the Fee Schedule B to this Agreement. The fees are accrued daily and to be billed monthly and shall be due and payable promptly upon receipt of the invoice. Upon the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be payable upon the date of termination of this Agreement. In addition, the Funds Fund shall reimburse the Administrator for its reasonable out-of-pocket costs incurred in connection with its services under this Agreement. The Funds agree promptly Fund agrees to reimburse the Administrator promptly for any equipment and supplies specially ordered by or for the Funds Fund through the Administrator and for any other expenses not contemplated by this Agreement that the Administrator may incur on the Funds' Fund's behalf at the Funds' Fund's request or with as consented to by the Funds' consentFund in advance in writing. Each The Fund will bear all expenses that are incurred in its operation and not specifically assumed by the Administrator. Expenses to be borne directly or indirectly by the Funds, Fund with respect to each Series include, but are not limited to: organizational expenses; cost of services of independent accountants and outside legal and tax counsel (including such counsel's review of a the Fund's registration statement, proxy materials, federal and state tax qualification as a regulated investment company and other reports and materials prepared by the Administrator under this Agreement); cost of any services contracted for by the Funds Fund directly from parties other than the Administrator; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the FundsFund; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its operation; costs incidental to any meetings of shareholders including, but not limited to, legal and accounting fees, fees of independent accountants and proxy filing fees and the costs of preparationpreparation (other than the preparation specified in Section 5, subject to Schedule B), printing and mailing of any proxy materials; costs incidental to Board meetings, including fees and expenses of Board members; the salary and expenses of any officer, officer or director\trustee or employee of the FundsFund (to the extent that any are paid); costs incidental to the preparationpreparation (other than the preparation specified in Section 5, subject to Schedule B), printing and distribution of the Funds' registration statements and any amendments thereto and Fund's shareholder reports; cost of typesetting and printing of prospectuses; cost of preparation (other than the preparation specified in Section 5, subject to Schedule B), and filing of the Funds' Fund's tax returns, Form N-1A or N-2 and Form N-N- SAR, and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; fidelity bond and directors' and officers' liability insurance; insurance and the cost of independent pricing services used in computing each the net asset value of the Fund's net asset valueSeries, as set forth in the Custodian Contract between the Fund and the Administrator. The Administrator is authorized to and may employ or associate with such person or persons as the Administrator may deem desirable to assist it in performing its duties under this Agreement; provided, however, that the compensation of such person or persons shall be paid by the Administrator and that the Administrator shall be as fully responsible to the Funds Fund for the acts and omissions of any such person or persons as it is for its own acts and omissions; and further provided that the Administrator shall not make a material delegation of its duties, except in accordance with Section 14 of this Agreement.

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Administrator shall receive from the Funds each Fund such compensation for the Administrator's ’s services provided pursuant to this Agreement as may be agreed to from time to time in a written fee schedule Fee Schedule approved by the parties and initially set forth in the Fee Schedule to this Agreementparties. The fees are accrued Fees shall accrue daily and be billed monthly monthly, and shall be due and payable upon receipt within thirty (30) days of the invoice. Upon the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be payable upon the date of termination of this Agreement. In addition, All rights of compensation and expense reimbursement under this Agreement for services performed through the Funds termination date shall reimburse survive the Administrator for its out-of-pocket costs incurred in connection with termination of this Agreement. The Funds agree Each Fund agrees promptly to reimburse the Administrator for any equipment and supplies specially ordered by or for the Funds Fund through the Administrator and for any other reasonable expenses not contemplated by this Agreement that the Administrator may incur on the Funds' Fund’s behalf at the Funds' Fund’s request or with the Funds' Fund’s consent. Each Fund will bear all expenses that are incurred in its operation and not specifically assumed by the Administrator. Expenses to be borne by the FundsFund, include, but are not limited to: organizational expenses; cost of services of the Fund’s independent accountants and the Fund’s outside legal and tax counsel (including such counsel's ’s review of a Fund's registration statementthe Registration Statement, Form N-CSR, Form N-Q, Form N-PX, Form N-SAR, proxy materials, federal and state tax qualification as a regulated investment company and other reports notices, registrations, reports, filings and materials prepared by the Administrator under this Agreement); cost of any services contracted for by the Funds Fund directly from parties other than the Administrator; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the FundsFund; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its operation; costs charges by third parties incidental to any meetings of shareholders including, but not limited to, legal and accounting fees, proxy filing fees and the costs of preparationpreparation (e.g., printing typesetting, XBRL-tagging, page changes and all other print vendor and XXXXX charges, collectively referred to herein as “Preparation”), printing, distribution and mailing of any proxy materials; costs charges by third parties incidental to Board meetings, including fees and expenses of Board members; the salary and expenses of any officer, director\trustee trustee or employee of the FundsFund; costs incidental to the preparationcharges by third parties for Preparation, printing printing, distribution and distribution mailing, as applicable, of the Funds' registration statements Fund’s Registration Statements and any amendments and supplements thereto and shareholder reports; cost of typesetting and printing of prospectuses; cost of preparation charges by third parties for Preparation and filing of the Funds' Fund’s tax returns, Form N-1A or N-2 N-2, Form N-CSR, Form N-Q, Form N-PX, and Form N-SAR, and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; the cost of fidelity bond and directors' and officers' D&O/E&O liability insurance; and the cost of independent pricing services used in computing each Fund's the Fund or Portfolio’s net asset value. The Administrator is authorized to and may employ employ, associate or associate contract with any such person or persons as the Administrator may deem desirable reasonably appropriate to assist it in performing its duties under this Agreement; provided, however, that the compensation of such person or persons shall be paid by the Administrator and that the Administrator shall be as fully responsible to the Funds Fund for the acts and omissions of any such person or persons as it is for its own acts and omissions.

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Administrator shall receive from the Funds Fund such compensation for the Administrator's services provided pursuant to this Agreement as may be agreed to from time to time in a written fee schedule approved by the parties and initially set forth in the Fee Schedule B to this Agreement. The fees are accrued daily and billed monthly and shall be due and payable upon receipt of the invoice. Upon the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be payable upon the date of termination of this Agreement. In addition, the Funds Fund shall reimburse the Administrator for its out-of-pocket costs incurred in connection with this Agreement. The Funds agree Fund agrees promptly to reimburse the Administrator for any equipment and supplies specially ordered by or for the Funds Fund through the Administrator and for any other expenses not contemplated by this Agreement that the Administrator may incur on the Funds' Fund's behalf at the Funds' Fund's request or with the Funds' Fund's consent. Each The Fund will bear all expenses that are incurred in its operation and not specifically assumed by the Administrator. Expenses to be borne by the FundsFund, include, but are not limited to: organizational expenses; cost of services of independent accountants and outside legal and tax counsel (including such counsel's review of a the Fund's registration statement, proxy materials, federal and state tax qualification as a regulated investment company and other reports and materials prepared by the Administrator under this Agreement); cost of any services contracted for by the Funds Fund directly from parties other than the Administrator; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the FundsFund; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its operation; costs incidental to any meetings of shareholders including, but not limited to, legal and accounting fees, proxy filing fees and the costs of preparation, printing and mailing of any proxy materials; costs incidental to Board meetings, including fees and expenses of Board members; the salary and expenses of any officer, director\trustee or employee of the FundsFund; costs incidental to the preparation, printing and distribution of the Funds' Fund's registration statements and any amendments thereto and shareholder reports; cost of typesetting and printing of prospectuses; cost of preparation and filing of the Funds' Fund's tax returns, Form N-1A or N-2 and Form N-SAR, and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; fidelity bond and directors' and officers' liability insurance; and cost of independent pricing services used in computing each the Fund's net asset value. The Administrator is authorized to and may employ or associate with such person or persons as the Administrator may deem desirable to assist it in performing its duties under this Agreement; provided, however, that the compensation of such person or persons shall be paid by the Administrator and that the Administrator shall be as fully responsible to the Funds Fund for the acts and omissions of any such person or persons as it is for its own acts and omissions.

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Administrator shall receive from the Funds Fund such compensation for the Administrator's ’s services provided pursuant to this Agreement as may be agreed to from time to time in a written fee schedule approved by the parties and initially set forth in the Fee Schedule set forth in Schedule A to this Agreement. The fees are accrued daily and billed monthly and shall be due and payable upon receipt of the invoice. Upon the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be payable upon the date of termination of this Agreement. In addition, the Funds Fund shall reimburse the Administrator for its reasonable out-of-pocket costs listed on Schedule A incurred in connection with this Agreement. The Funds agree Fund agrees promptly to reimburse the Administrator for any equipment and supplies specially ordered by or for the Funds Fund through the Administrator and for any other expenses not contemplated by this Agreement that the Administrator may incur on the Funds' Fund’s behalf at the Funds' Fund’s request or with the Funds' Fund’s consent. Each The Fund will bear all expenses that are incurred in its operation and not specifically assumed by the Administrator. Expenses to be borne by the FundsFund, include, but are not limited to: organizational expenses; cost of services of independent accountants and outside legal and tax counsel (including such counsel's ’s review of a the Fund's ’s registration statement, proxy materials, federal and state tax qualification as a regulated investment company and other reports and materials prepared by the Administrator under this Agreement); cost of any services contracted for by the Funds Fund directly from parties other than the Administrator; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the FundsFund; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its operation; costs incidental to any meetings of shareholders including, but not limited to, legal and accounting fees, proxy filing fees and the costs of preparation, printing and mailing of any proxy materials; costs incidental to Board meetings, including fees and expenses of Board members; the salary and expenses of any officer, director\trustee director, trustee or employee of the FundsFund; costs incidental to the preparation, printing and distribution of the Funds' Fund’s registration statements and any amendments thereto and shareholder reports; cost of typesetting and printing of prospectuses; cost of preparation and filing of the Funds' Fund’s tax returns, Form N-1A or N-2 and Form N-SAR, and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; fidelity bond and directors' ’ and officers' ’ liability insurance; and cost of independent pricing services used in computing each Fund's ’s net asset value. The Administrator is authorized to and may employ or associate with such person or persons as the Administrator may deem desirable to assist it in performing its duties under this Agreement; provided, however, that the compensation of such person or persons shall be paid by the Administrator and that the Administrator shall be as fully responsible to the Funds Fund for the acts and omissions of any such person or persons as it is for its own acts and omissions.

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Administrator shall receive from the Funds Fund such compensation for the Administrator's ’s services provided pursuant to this Agreement as may be agreed to from time to time in a written fee schedule Fee Schedule approved by the parties and initially set forth in the Fee Schedule to this Agreementparties. The fees are accrued daily and billed monthly and shall be due and payable upon receipt of the invoice. Upon the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be payable upon the date of termination of this Agreement. In addition, the Funds Fund shall reimburse the Administrator for its out-of-pocket costs incurred in connection with this Agreement, including reasonable counsel fees. All rights of compensation and expense reimbursement under this Agreement for services performed as of the termination date shall survive the termination of this Agreement. The Funds agree Fund agrees promptly to reimburse the Administrator for any equipment and supplies specially ordered by or for the Funds Fund through the Administrator and for any other expenses not contemplated by this Agreement that the Administrator may incur on the Funds' Fund’s behalf at the Funds' Fund’s request or with the Funds' Fund’s consent. Each The Fund will bear all expenses that are incurred in its operation and not specifically assumed by the Administrator. Expenses to be borne by the FundsFund, include, but are not limited to: organizational expenses; cost of services of independent accountants and outside legal and tax counsel (including such counsel's ’s review of a Fund's the registration statement, Form N-CSR, Form N-Q, Form N-PX, Form N-SAR, tender offer materials, proxy materials, federal and state tax qualification as a regulated investment company and other reports notices, registrations, reports, filings and materials prepared by the Administrator under this Agreement); cost of any services contracted for by the Funds Fund directly from parties other than the Administrator; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the FundsFund; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its operation; costs incidental to any meetings of shareholders including, but not limited to, legal and accounting fees, tender offer and proxy filing fees and the costs of preparationpreparation (e.g., printing typesetting, XBRL-tagging, page changes and all other print vendor and XXXXX charges, collectively referred to herein as “Preparation”), printing, distribution and mailing of any tender offer or proxy materials; costs incidental to Board meetings, including fees and expenses of Board members; the salary and expenses of any officer, director\trustee or employee of the FundsFund; costs incidental to the preparationof Preparation, printing printing, distribution and distribution mailing, as applicable, of the Funds' Fund’s registration statements and any amendments and supplements thereto and shareholder reports; cost of typesetting and printing of prospectuses; cost of preparation Preparation and filing of the Funds' Fund’s tax returns, Form N-1A or N-2 N-2, Form N-CSR, Form N-Q, Form N-PX and Form N-SAR, and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; the cost of fidelity bond and directors' and officers' D&O/E&O liability insurance; and the cost of independent pricing services used in computing each Fund's the Fund(s)’ or Portfolio(s)’ net asset value. The Administrator is authorized to and may employ employ, associate or associate contract with such person or persons as the Administrator may deem desirable to assist it in performing its duties under this Agreement; provided, however, that the compensation of such person or persons shall be paid by the Administrator and that the Administrator shall be as fully responsible to the Funds Fund for the acts and omissions of any such person or persons as it is for its own acts and omissions.

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Administrator Bank shall receive from the Funds each Trust such compensation for the AdministratorBank's services provided pursuant to this Agreement as may be agreed to from time to time in a written fee schedule approved by the parties and initially set forth in the Fee Schedule to this Agreement. The fees are accrued daily and billed monthly and shall be due and payable upon receipt of the invoice. Upon the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be payable upon the date of termination of this Agreement. In addition, the Funds each Trust shall reimburse the Administrator Bank for its reasonable out-of-pocket costs incurred in connection with its performance of this AgreementAgreement in respect of that Trust. The Funds Trusts agree promptly to reimburse the Administrator Bank for any equipment and supplies specially ordered by or for the Funds Trusts, or the Administrator, through the Administrator Bank and for any other expenses not contemplated by this Agreement that the Administrator Bank may incur on any Trust's or the Funds' behalf Administrator's behalf, at the Funds' Trust's or the Administrator's request or with any Trust's or the Funds' Administrator's consent. Each Fund Trust will bear all expenses that are incurred in its operation and not specifically assumed by the AdministratorBank. Expenses to be borne by the FundsTrusts, include, but are not limited to: organizational expenses; cost of services of independent accountants and outside legal and tax counsel (including such counsel's review of a Fundeach Trust's registration statement, proxy materials, federal and state tax qualification as a regulated investment company and other reports and materials prepared by the Administrator Bank under this Agreement); cost of any services contracted for by the Funds Trusts directly from parties other than the AdministratorBank; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the FundsTrusts; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its each Trust's operation; costs incidental to any meetings of shareholders including, but not limited to, legal and accounting fees, proxy filing fees and the costs of preparation, filing (including edgarization), printing and mailing of any proxy materials; costs incidental to Board meetings, including fees and expenses of Board members; the salary and expenses of any officer, director\trustee director/trustee or employee of the FundsTrusts; costs incidental to the preparation, filing (including edgarization), printing and distribution of the Funds' each Trust's registration statements and any amendments thereto thereto, and shareholder reports; cost of typesetting and printing of prospectuses; cost (other than internal costs of the Bank in its performance of its obligations under this Agreement) of preparation and filing of the Funds' each Trust's tax returns, Form N-1A or N-2 and Form N-SAR, and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; fidelity bond and directors' and officers' liability insurance; and cost of independent pricing services used in computing each FundTrust's net asset value. The Administrator Bank is authorized to and may employ or associate with such person or persons as the Administrator Bank may deem desirable to assist it in performing its duties under this Agreement; provided, however, that the compensation of such person or persons shall be paid by the Administrator Bank and that the Administrator Bank shall be as fully responsible to the Funds Trusts for the acts and omissions of any such person or persons as it is for its own acts and omissions.

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The For the services to be rendered hereunder, the Fund shall pay the Administrator shall receive from a monthly fee equal to the Funds such compensation for annualized rate of the Administratorhigher of $75,000.00 and 0.15% of the Fund's services provided pursuant to this Agreement as may be agreed to from time to time in a written fee schedule approved by the parties and initially set forth in the Fee Schedule to this Agreementaverage daily net asset value. The fees are accrued daily and billed monthly and shall be due and payable upon receipt of the invoice. Upon the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be payable upon the date of termination of this Agreement. In addition, the Funds Fund shall reimburse the Administrator for its out-of-pocket costs incurred in connection with this Agreement. The Funds agree Fund agrees promptly to reimburse the Administrator for any equipment and supplies specially ordered by or for the Funds Fund through the Administrator and for any other expenses not contemplated by this Agreement that the Administrator may incur on the Funds' Fund's behalf at the Funds' Fund's request or with the Funds' Fund's consent. Each The Fund will bear all expenses that are incurred in its operation and not specifically assumed by the Administrator. Expenses to be borne by the Funds, Fund include, but are not limited to: organizational expenses; cost costs of services of independent accountants and outside legal and tax counsel (including such counsel's review of a the Fund's registration statement, proxy materials, federal and state tax qualification as a regulated investment company and other reports and materials prepared by the Administrator under this Agreement); cost investment advisory fees; costs of any services contracted for by the Funds Fund directly from parties other than the Administrator; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the Funds; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its operation; costs incidental to any meetings of shareholders including, but not limited to, legal and accounting fees, proxy filing fees and the costs of preparation, printing and mailing of any proxy materials; costs incidental to Board meetings, including fees and expenses of Board members; the salary and expenses of any officer, director\trustee director/trustee or employee of the FundsFund; costs incidental to the preparation, printing and distribution of the Funds' Fund's registration statements and any amendments thereto and shareholder reports; cost costs of typesetting and printing of prospectuses; cost of preparation and filing of the Funds' Fund's tax returns, Form N-1A or N-2 and Form N-SAR, and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; fidelity bond and directors' and officers' liability insurance; and cost costs of independent pricing services used in computing each the Fund's net asset value. The Administrator is authorized to and may employ or associate with such person or persons as the Administrator may deem desirable to assist it in performing its duties under this Agreement; provided, however, that the compensation of such person or persons shall be paid by the Administrator and that the Administrator shall be as fully responsible to the Funds Fund for the acts and omissions of any such person or persons as it is for its own acts and omissions.

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Administrator shall receive from the Funds Trust such compensation for the Administrator's services provided pursuant to this Agreement as may be agreed to from time to time in a written fee schedule approved by the parties and initially set forth in the Fee Schedule to this Agreement. The fees are accrued daily and billed monthly and shall be due and payable upon receipt of the invoice. Upon the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be payable upon the date of termination of this Agreement. In addition, the Funds Trust shall reimburse the Administrator for its out-of-pocket costs incurred in connection with this Agreement. All rights of compensation and expense reimbursement under this Agreement for services performed as of the termination date shall survive the termination of this Agreement. The Funds agree Trust agrees promptly to reimburse the Administrator for any equipment and supplies specially ordered by or for the Funds Trust through the Administrator and for any other expenses not contemplated by this Agreement that the Administrator may incur on the Funds' Trust's behalf at the Funds' Trust's request or with the Funds' Trust's consent. Each Fund The Trust will bear all expenses that are incurred in its operation and not specifically assumed by the Administrator. Expenses to be borne by the FundsTrust, include, but are not limited to: organizational expenses; cost of services of independent accountants and outside legal and tax counsel (including such counsel's review of a Fundthe Trust's registration statement, proxy materials, federal and state tax qualification as a regulated investment company and other reports and materials prepared by the Administrator under this Agreement); cost of any services contracted for by the Funds Trust directly from parties other than the Administrator; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the FundsTrust; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its operation; costs incidental to any meetings of shareholders including, but not limited to, legal and accounting fees, proxy filing fees and the costs of preparation, printing and mailing of any proxy materials; costs incidental to Board meetings, including fees and expenses of Board members; the salary and expenses of any officer, director\trustee or employee of the FundsTrust; costs incidental to the preparation, printing and distribution of the Funds' Trust's registration statements and any amendments thereto and shareholder reports; cost of typesetting and printing of prospectuses; cost of preparation and filing of the Funds' Trust's tax returns, Form N-1A or N-2 N-2, Form N-CSR, Form N-Q, Form N-PX and Form N-SAR, and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; fidelity bond and directors' and officers' liability insurance; and cost of independent pricing services used in computing each Fund's the Investment Funds' net asset valuevalues. The Administrator is authorized to and may employ or associate with such person or persons as the Administrator may deem desirable to assist it in performing its duties under this Agreement; provided, however, that the compensation of such person or persons shall be paid by the Administrator and that the Administrator shall be as fully responsible to the Funds Trust for the acts and omissions of any such person or persons as it is for its own acts and omissions.

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Administrator Bank shall receive from the Funds Company such compensation for the AdministratorBank's services provided pursuant to this Agreement as may be agreed to from time to time in a written fee schedule approved by the parties and initially set forth in the Fee Schedule to this Agreement. The fees are accrued daily and billed monthly and shall be due and payable upon receipt of the invoice. The Trust shall pay to the Bank any and all compensation and reimbursement of expense that are not paid to the Bank by the Company. Upon the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be payable upon the date of termination of this Agreement. In addition, the Funds Company shall reimburse the Administrator Bank for its out-of-pocket costs incurred in connection with this Agreement. The Funds agree Company agrees promptly to reimburse the Administrator Bank for any equipment and supplies specially ordered by or for the Funds Trust, or the Company, through the Administrator Bank and for any other expenses not contemplated by this Agreement that the Administrator Bank may incur on the Funds' behalf Trust's or Company's behalf, at the Funds' Trust's or the Company's request or with the Funds' Trust's or the Company's consent. Each Fund The Trust will bear all expenses that are incurred in its operation and not specifically assumed by the AdministratorBank. Expenses to be borne by the FundsTrust, include, but are not limited to: organizational expenses; cost of services of independent accountants and outside legal and tax counsel (including such counsel's review of a Fundthe Trust's registration statement, proxy materials, federal and state tax qualification as a regulated investment company and other reports and materials prepared by the Administrator Bank under this Agreement); cost of any services contracted for by the Funds Trust directly from parties other than the AdministratorBank; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the FundsTrust; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its operation; costs incidental to any meetings of shareholders including, but not limited to, legal and accounting fees, proxy filing fees and the costs of preparation, filing (edgarization), printing and mailing of any proxy materials; costs incidental to Board meetings, including fees and expenses of Board members; the salary and expenses of any officer, director\trustee or employee of the FundsTrust; costs incidental to the preparation, filing (edgarization), printing and distribution of the Funds' Trust's registration statements and any amendments thereto and shareholder reports; cost of typesetting and printing of prospectuses; cost of preparation and filing of the Funds' Trust's tax returns, Form N-1A or N-2 and Form N-SAR, and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; fidelity bond and directors' and officers' liability insurance; and cost of independent pricing services used in computing each Fundthe Trust's net asset value. The Administrator Bank is authorized to and may employ or associate with such person or persons as the Administrator Bank may deem desirable to assist it in performing its duties under this Agreement; provided, however, that the compensation of such person or persons shall be paid by the Administrator Bank and that the Administrator Bank shall be as fully responsible to the Funds Trust for the acts and omissions of any such person or persons as it is for its own acts and omissions.

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Administrator shall receive from the Funds Trust such compensation for the Administrator's services provided pursuant to this Agreement as may be agreed to from time to time in a written fee schedule approved by the parties and described in the then current Prospectus and initially as set forth in the Fee on Schedule C to this Agreement. The fees are accrued daily and billed monthly and shall be due and payable upon receipt of the invoice. Upon the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be payable upon the date of termination of this Agreement. In addition, the Funds Trust shall reimburse the Administrator for its out-of-pocket costs incurred in connection with this Agreement. The Funds agree Trust agrees promptly to reimburse the Administrator for any equipment and supplies specially ordered by or for the Funds Trust through the Administrator and for any other expenses not contemplated by this Agreement that the Administrator may incur on the Funds' Trust's behalf at the Funds' Trust's request or with the Funds' Trust's consent. Each Fund The Trust will bear all expenses that are incurred in its operation and not specifically assumed by the AdministratorAdministrator or another party. Expenses to be borne by the FundsTrust, include, but are not limited to: organizational expenses; cost of services of independent accountants and outside legal and tax counsel (including such counsel's review of a Fundthe Trust's registration statement, proxy materials, federal and state tax qualification as a regulated investment company and other reports and materials prepared by the Administrator under this Agreement); cost of any services contracted for by the Funds Trust directly from parties other than the Administrator; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the FundsTrust; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its operation; costs incidental to any meetings of shareholders including, but not limited to, legal and accounting fees, proxy filing fees and the costs of preparation, printing and mailing of any proxy materials; costs incidental to Board meetings, including fees and expenses of Board members; the salary and expenses of any officer, director\trustee or employee of the FundsTrust; costs incidental to the preparation, printing and distribution of the Funds' Trust's registration statements and any amendments thereto and shareholder reports; cost of typesetting and printing of prospectuses; cost of preparation and filing of the Funds' Trust's tax returns, Form N-1A or N-2 and Form N-SAR, and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; fidelity bond and directors' and officers' liability insurance; and cost of independent pricing services used in computing each Fundthe Trust's net asset value. The Administrator is authorized to and may employ or associate with such person or persons as the Administrator may deem desirable to assist it in performing its duties under this Agreement; provided, however, that the compensation of such person or persons shall be paid by the Administrator and that the Administrator shall be as fully responsible to the Funds Trust for the acts and omissions of any such person or persons as it is for its own acts and omissions.

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Administrator shall receive from the Funds Fund such compensation for the Administrator's services provided pursuant to this Agreement as may be agreed to from time to time in a written fee schedule approved by the parties and initially set forth in the Fee Schedule A to this Agreement. The fees are accrued daily and billed monthly and shall be due and payable upon receipt of the invoice. Upon the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be payable upon the date of termination of this Agreement. In addition, the Funds Fund shall reimburse the Administrator for its reasonable out-of-pocket costs incurred in connection with this Agreement. The Funds agree Fund agrees promptly to reimburse the Administrator for any equipment and supplies specially ordered by or for the Funds Fund through the Administrator and for any other expenses not contemplated by this Agreement that the Administrator may incur on the Funds' Fund's behalf at the Funds' Fund's request or with the Funds' Fund's consent. Each Fund The fund will bear all expenses that are incurred in its operation and not specifically assumed by the Administrator. Expenses to be borne by the FundsFund, include, but are not limited to: organizational expenses; cost of services of independent accountants and outside legal and tax counsel (including such counsel's review of a the Fund's registration statement, proxy materials, federal and state tax qualification as a regulated investment company and other reports and materials prepared by the Administrator under this Agreement); cost of any services contracted for by the Funds Fund directly from parties other than the Administrator; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the FundsFund; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its operation; costs incidental to any meetings of shareholders including, but not limited to, legal and accounting fees, proxy filing fees and the costs of preparation, printing and mailing of any proxy materials; costs incidental to Board meetings, including fees and expenses of Board members; the salary and expenses of any officer, director\trustee or employee of the FundsFund; costs incidental to the preparation, printing and distribution of the Funds' Fund's registration statements and any amendments thereto and shareholder reports; cost costs of typesetting and printing of prospectuses; cost of preparation and filing of the Funds' Fund's tax returns, Form N-1A or N-2 and Form N-SAR, and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; fidelity bond and directors' and officers' liability insurance; and cost of independent pricing services used in computing each the Fund's net asset value. The Administrator is authorized to and may employ or associate with such person or persons as the Administrator may deem desirable to assist it in performing its duties under this Agreement; provided, however, that the compensation of such person or persons shall be paid by the Administrator and that the Administrator shall be as fully responsible to the Funds Fund for the acts and omissions of any such person or persons as it is for its own acts and omissions.

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Administrator shall receive from the Funds Fund such compensation for the Administrator's ’s services provided pursuant to this Agreement as may be agreed to from time to time in a written fee schedule Fee Schedule approved by the parties and initially set forth in the Fee Schedule to this Agreementparties. The fees are accrued Fees shall accrue daily and be billed monthly monthly, and shall be due and payable upon receipt within thirty (30) days of the invoice. Upon the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be payable upon the date of termination of this Agreement. In addition, All rights of compensation and expense reimbursement under this Agreement for services performed through the Funds termination date shall reimburse survive the Administrator for its out-of-pocket costs incurred in connection with termination of this Agreement. The Funds agree Fund agrees promptly to reimburse the Administrator for any equipment and supplies specially ordered by or for the Funds Fund through the Administrator and for any other reasonable expenses not contemplated by this Agreement that the Administrator may incur on the Funds' Fund’s behalf at the Funds' Fund’s request or with the Funds' Fund’s consent. Each The Fund will bear all expenses that are incurred in its operation and not specifically assumed by the Administrator. Expenses to be borne by the FundsFund, include, but are not limited to: organizational expenses; cost of services of the Fund’s independent accountants and the Fund’s outside legal and tax counsel (including such counsel's ’s review of a Fund's registration statementthe Registration Statement, Form N-CSR, Form N-Q, Form N-PX, Form N-SAR, proxy materials, federal and state tax qualification as a regulated investment company and other reports notices, registrations, reports, filings and materials prepared by the Administrator under this Agreement); cost of any services contracted for by the Funds Fund directly from parties other than the Administrator; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the FundsFund; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its operation; costs charges by third parties incidental to any meetings of shareholders including, but not limited to, legal and accounting fees, proxy filing fees and the costs of preparationpreparation (e.g., printing typesetting, XBRL-tagging, page changes and all other print vendor and XXXXX charges, collectively referred to herein as “Preparation”), printing, distribution and mailing of any proxy materials; costs charges by third parties incidental to Board meetings, including fees and expenses of Board members; the salary and expenses of any officer, director\trustee trustee or employee of the FundsFund; costs incidental to the preparationcharges by third parties for Preparation, printing printing, distribution and distribution mailing, as applicable, of the Funds' registration statements Fund’s Registration Statements and any amendments and supplements thereto and shareholder reports; cost of typesetting and printing of prospectuses; cost of preparation charges by third parties for Preparation and filing of the Funds' Fund’s tax returns, Form N-1A or N-2 N-2, Form N-CSR, Form N-Q, Form N-PX, and Form N-SAR, and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; the cost of fidelity bond and directors' and officers' D&O/E&O liability insurance; and the cost of independent pricing services used in computing each the Fund's ’s net asset value. The Administrator is authorized to and may employ employ, associate or associate contract with any such person or persons as the Administrator may deem desirable reasonably appropriate to assist it in performing its duties under this Agreement; provided, however, that the compensation of such person or persons shall be paid by the Administrator and that the Administrator shall be as fully responsible to the Funds Fund for the acts and omissions of any such person or persons as it is for its own acts and omissions.

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Administrator Bank shall receive from the Funds Company such compensation for the AdministratorBank's services provided pursuant to this Agreement as may be agreed to from time to time in a written fee schedule approved by the parties and initially set forth in the Fee Schedule to this Agreement. The fees are accrued daily and billed monthly and shall be due and payable upon receipt of the invoice. Each Fund shall pay to the Bank any and all compensation and reimbursement of expense that are not paid to the Bank by the Company. Upon the termination of this Agreement before the end of any month, the fee for the ;part of the month before such termination shall be prorated according to the proportion which such part bears bars to the full monthly period and shall be payable upon the date of termination of this Agreement. In addition, the Funds Company shall reimburse the Administrator Bank for its out-of-pocket costs incurred in connection with `this Agreement. The Funds agree Company agrees promptly to reimburse the Administrator Bank for any equipment and supplies specially ordered by or for a Fund, or the Funds Company, through the Administrator Bank and for any other expenses not contemplated by this Agreement that the Administrator Bank may incur on a Fund's or the Funds' behalf Company's behalf, at the Funds' Fund's or the Company's request or with the Funds' Fund's or the Company's consent. Each Fund will bear all expenses that are incurred in its operation and not specifically assumed by the AdministratorBank. Expenses to be borne by the Fundseach Fund, include, but are not limited to: to organizational expenses; cost of services of independent accountants and outside legal and tax counsel (including such counsel's preparation and review of a the Fund's registration statement, proxy materials, materials as well as federal and state tax qualification as a regulated investment company and other reports and materials that may be prepared by the Administrator Bank under this Agreement); cost of any services contracted for by the Funds Fund directly from parties other than the AdministratorBank; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the FundsFund; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its operation; costs incidental to any meetings of shareholders including, but not limited to, legal and accounting fees, proxy filing fees and the costs of preparation, filing, (edgarization), printing and mailing of any proxy materials; costs incidental to Board meetings, including fees and expenses of Board members; the salary and expenses of any officer, director\trustee director/trustee or employee of the FundsFund; costs incidental to the preparation, filing (edgarization), printing and distribution of the Funds' Fund's registration statements and any amendments thereto and shareholder reports; cost of typesetting and printing of prospectuses; cost of preparation and filing of the Funds' Fund's tax returns, Form N-1A or N-2 returns and Form N-SARSAR (other than pursuant to Section 6f. of this Agreement), and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; fidelity bond and directors' and officers' liability insurance; and cost of independent pricing services used in computing each Fund's net asset value. The Administrator Bank is authorized to and may employ or associate with such person or persons as the Administrator Bank may deem desirable to assist it in performing its duties under this Agreement; provided, however, that the compensation of such person or persons shall be paid by the Administrator Bank and that the Administrator Bank shall be as fully responsible to the Funds Fund for the acts and omissions of any such person or persons as it is for its own own, acts and omissions.

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Administrator shall receive from the Funds Fund Parties with respect to each Fund such compensation for the Administrator's ’s services provided pursuant to this Agreement as may be agreed to from time to time in a written fee schedule approved by the parties and initially set forth in the Fee Schedule A to this Agreement. The fees are accrued daily and billed monthly and shall be due and payable upon receipt of the invoice. Upon the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be payable upon the date of termination of this Agreement. In addition, the Funds shall reimburse the Administrator for its reasonable and fully documented out-of-pocket costs incurred in connection with this Agreement. The Funds agree promptly to reimburse Fund Parties must notify the Administrator in writing of any contested amounts within ninety (90) days of receipt of a billing for any equipment such amounts. Disputed amounts are not due and supplies specially ordered by payable while they are being investigated. In the event of questions with respect to the calculation of the Administrator’s fees hereunder or for the Funds through billing of such fees, the Administrator and for any other expenses not contemplated by this Agreement parties agree to present a report to the Board of the affected Fund(s) at its next regularly scheduled meeting regarding the resolution of such questions to the extent that the Administrator may incur on amounts involved are material to the Funds' behalf at the Funds' request or with the Funds' consentaffected Fund(s). Each Fund (or Fund Party, as applicable) will bear all expenses that are incurred in its operation and not specifically assumed by the Administrator. Expenses to be borne by the Fundseach Fund (or Fund Party, as applicable), include, but are not limited to: organizational expenses; cost of services of independent accountants and outside legal and tax counsel (including such counsel's review of a Fund's registration statement, proxy materials, federal and state tax qualification as a regulated investment company and other reports and materials prepared by the Administrator under this Agreement); cost of any services contracted for by the Funds directly from parties other than the Administrator; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the Funds; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its operation; costs incidental to any meetings of shareholders including, but not limited to, legal and accounting fees, proxy filing fees and the costs of preparation, printing and mailing of any proxy materials; costs incidental to Board meetings, including fees and expenses of Board members; the salary and expenses of any officer, director\trustee or employee of the Funds; costs incidental to the preparation, printing and distribution of the Funds' registration statements and any amendments thereto and shareholder reports; cost of typesetting and printing of prospectuses; cost of preparation and filing of the Funds' tax returns, Form N-1A or N-2 and Form N-SAR, and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; fidelity bond and directors' and officers' liability insurance; and cost of independent pricing services used in computing each Fund's net asset value. The Administrator is authorized to and may employ or associate with such person or persons as the Administrator may deem desirable to assist it in performing its duties under this Agreement; provided, however, that the compensation of such person or persons shall be paid by the Administrator and that the Administrator shall be as fully responsible to the Funds for the acts and omissions of any such person or persons as it is for its own acts and omissions.:

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Administrator shall receive from the Funds Fund such compensation for the Administrator's services provided pursuant to this Agreement as may be agreed to from time to time in a written fee schedule approved by the parties and initially set forth in the Fee Schedule B to this Agreement. The fees are accrued daily and billed monthly and shall be due and payable upon receipt of the invoice. Upon the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be payable upon the date of termination of this Agreement. In addition, the Funds Fund shall reimburse the Administrator for its out-of-pocket costs incurred in connection with this Agreement. The Funds agree Fund agrees promptly to reimburse the Administrator for any equipment and supplies specially ordered by or for the Funds Fund through the Administrator and for any other expenses not contemplated by this Agreement that the Administrator may incur on the Funds' Fund's behalf at the Funds' Fund's request or with the Funds' Fund's consent. Each The Fund will bear all expenses that are incurred in its operation and not specifically assumed by the Administrator. Expenses to be borne by the FundsFund, include, but are not limited to: organizational expenses; cost of services of independent accountants and outside legal and tax counsel (including such counsel's review of a the Fund's registration statement, proxy materials, federal and state tax qualification as a regulated investment company and other reports and materials prepared by the Administrator under this Agreement); cost of any services contracted for by the Funds Fund directly from parties other than the Administrator; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the FundsFund; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its operation; costs incidental to any meetings of shareholders including, but not limited to, legal and accounting fees, proxy filing fees and the costs of preparation, printing and mailing of any proxy materials; costs incidental to Board meetings, including fees and expenses of Board members; the salary and expenses of any officer, director\trustee or employee of the FundsFund; costs incidental to the preparation, printing and distribution of the Funds' Fund's registration statements and any amendments thereto and shareholder reports; cost of typesetting and printing of prospectuses; cost of preparation and filing of the Funds' Fund's tax returns, Form N-1A or N-2 and Form N-SAR, and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; fidelity bond and directors' and officers' liability insurance; and cost of independent pricing services used in computing each the Fund's net asset value. The Administrator is authorized to and may employ or associate with such person or persons as the Administrator may deem desirable to assist it in performing its duties under this Agreement; provided, ,however, that the compensation of such person or persons shall be paid by the Administrator and that the Administrator shall be as fully responsible to the Funds Fund for the acts and omissions of any such person or persons as it is for its own acts and omissions.

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Administrator shall receive from the Funds each Fund such compensation for the Administrator's ’s services provided pursuant to this Agreement as may be agreed to from time to time in a written fee schedule Fee Schedule approved by the parties and initially set forth in the Fee Schedule to this Agreementparties. The fees are accrued Fees shall accrue daily and be billed monthly monthly, and shall be due and payable upon receipt within sixty (60) days of the invoice. Upon the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be payable upon the date of termination of this Agreement. In addition, All rights of compensation and expense reimbursement under this Agreement for services performed through the Funds termination date shall reimburse survive the Administrator for its out-of-pocket costs incurred in connection with termination of this Agreement. The Funds agree Each Fund agrees promptly to reimburse the Administrator for any equipment and supplies specially ordered by or for the Funds Fund through the Administrator and for any other reasonable expenses not contemplated by this Agreement that the Administrator may incur on the Funds' Fund’s behalf at the Funds' Fund’s request or with the Funds' Fund’s consent. Each Fund will bear all expenses that are incurred in its operation and not specifically assumed by the Administrator. Expenses to be borne by the FundsFund, include, but are not limited to: organizational expenses; cost of services of the Fund’s independent accountants and the Fund’s outside legal and tax counsel (including such counsel's ’s review of a Fund's registration statementthe Registration Statement, Form N-CSR, Form N-Q, Form N-PX, Form N-SAR, proxy materials, federal and state tax qualification as a regulated investment company and other reports notices, registrations, reports, filings and materials prepared by the Administrator under this Agreement); cost of any services contracted for by the Funds Fund directly from parties other than the Administrator; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the FundsFund; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its operation; costs charges by third parties incidental to any meetings of shareholders including, but not limited to, legal and accounting fees, proxy filing fees and the costs of preparationpreparation (e.g., printing typesetting, XBRL-tagging, page changes and all other print vendor and XXXXX charges, collectively referred to herein as “Preparation”), printing, distribution and mailing of any proxy materials; costs charges by third parties incidental to Board meetings, including fees and expenses of Board members; the salary and expenses of any officer, director\trustee trustee or employee of the FundsFund; costs incidental to the preparationcharges by third parties for Preparation, printing printing, distribution and distribution mailing, as applicable, of the Funds' registration statements Fund’s Registration Statements and any amendments and supplements thereto and shareholder reports; cost of typesetting and printing of prospectuses; cost of preparation charges by third parties for Preparation and filing of the Funds' Fund’s tax returns, Form N-1A or N-2 N-2, Form N-CSR, Form N-Q, Form N-PX, and Form N-SAR, and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; the cost of fidelity bond and directors' and officers' D&O/E&O liability insurance; and the cost of independent pricing services used in computing each Fund's the Fund or Portfolio’s net asset value. The Administrator is authorized to and may employ employ, associate or associate contract with any such person or persons as the Administrator may deem desirable reasonably appropriate to assist it in performing its duties under this Agreement; provided, however, that the compensation of such person or persons shall be paid by the Administrator and that the Administrator shall be as fully responsible to the Funds Fund for the acts and omissions of any such person or persons as it is for its own acts and omissions.

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Administrator Bank shall receive from the Funds Fund such compensation for the Administrator's services provided pursuant to this Agreement as may be agreed to from time to time in a written fee schedule approved by the parties and initially set forth in the Fee Schedule B to this Agreement. The fees are accrued daily and billed monthly and shall be due and payable upon receipt of the invoice. Upon the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be payable upon the date of termination of this Agreement. In addition, the Funds shall reimburse the Administrator for its out-of-pocket costs incurred in connection with this Agreement. The Funds agree Fund agrees promptly to reimburse the Administrator Bank for any equipment and supplies specially ordered by or for the Funds Fund through the Administrator Bank and for any other expenses not contemplated by this Agreement that the Administrator Bank may incur on the Funds' Fund's behalf at the Funds' Fund's request or with the Funds' Fund's consent. Each The Fund will bear all expenses that are incurred in its operation and not specifically assumed by the AdministratorBank. Expenses to be borne by the FundsFund, include, but are not limited to: organizational expenses; cost of services of independent accountants and outside legal and tax counsel (including such counsel's review of a the Fund's registration statement, proxy materials, federal and state tax qualification as a regulated investment company and other reports and materials prepared by the Administrator Bank under this Agreement); cost of any services contracted for by the Funds Fund directly from parties other than the AdministratorBank; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the FundsFund; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its operation; costs incidental to any meetings of shareholders including, but not limited to, legal and accounting fees, proxy filing fees and the costs of preparation, printing and mailing of any proxy materials; costs incidental to Board meetings, including fees and expenses of Board members; the salary and expenses of any officer, director\trustee director or employee of the FundsFund; costs incidental to the preparation, printing and distribution of the Funds' Fund's registration statements and any amendments thereto and shareholder reports; cost of typesetting and printing of prospectuses; cost of preparation and filing of the Funds' Fund's tax returns, Form N-1A or N-2 and Form N-SAR, and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; fidelity bond and directors' and officers' liability insurance; and cost of independent pricing services used in computing each the Fund's net asset value. The Administrator Bank is authorized to and may employ or associate with such person or persons as the Administrator Bank may deem desirable to assist it in performing its duties under this Agreement; provided, however, that the compensation of such person or persons shall be paid by the Administrator Bank and that the Administrator Bank shall be as fully responsible to the Funds Fund for the acts and omissions of any such person or persons as it is for its own acts and omissions.

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Administrator shall receive from the Funds Fund such compensation for the Administrator's services provided pursuant to this Agreement as may be agreed to from time to time in a written fee schedule approved by the parties and initially set forth in the Fee Schedule B to this Agreement. The fees are accrued daily and billed monthly and shall be due and payable upon receipt of the invoice. Upon the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be payable upon the date of termination of this Agreement. In addition, the Funds Fund shall reimburse the Administrator for its out-of-pocket costs incurred in connection with this Agreement. The Funds agree Fund agrees promptly to reimburse the Administrator for any equipment and supplies specially ordered by or for the Funds Fund through the Administrator and for any other expenses not contemplated by this Agreement that the Administrator may incur on the Funds' Fund's behalf at the Funds' request or with the Funds' consentconsent of the Fund. Each Fund The Administrator will bear all not be responsible for any expenses that are incurred in its the operation of the Fund and not specifically assumed by the Administrator. Expenses to be borne by the Funds, Such expenses include, but are not limited to: organizational expenses; cost of services of independent accountants and outside legal and tax counsel (including such counsel's review of a the Fund's registration statement, proxy materials, federal and state tax qualification as a regulated investment company and other reports and materials prepared by the The Administrator under this Agreement); cost of any may from time to time sub-contract with one or more sub- administrators (each, a "Sub-Administrator") to provide some or all services contracted for by the Funds directly from parties other than the Administrator; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the Funds; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its operation; costs incidental to any meetings of shareholders including, but not limited to, legal and accounting fees, proxy filing fees and the costs of preparation, printing and mailing of any proxy materials; costs incidental to Board meetings, including fees and expenses of Board members; the salary and expenses of any officer, director\trustee or employee of the Funds; costs incidental to the preparation, printing and distribution of the Funds' registration statements and any amendments thereto and shareholder reports; cost of typesetting and printing of prospectuses; cost of preparation and filing of the Funds' tax returns, Form N-1A or N-2 and Form N-SARhereunder, and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; fidelity bond and directors' and officers' liability insurance; and cost of independent pricing services used in computing each Fund's net asset value. The Administrator is authorized to and may employ or associate with such person or persons as the Administrator may deem desirable to assist it in performing its duties under this Agreement; provided, however, that the compensation of such person or Sub-Administrators and persons shall be paid by the Administrator and that the Administrator shall be as fully responsible to the Funds Fund for the acts and omissions of any such person Sub-Administrators or persons as it is for its own acts and omissions.

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Administrator shall receive from the Funds Company such compensation for the Administrator's ’s services provided pursuant to this Agreement as may be agreed to from time to time in a written fee schedule approved by the parties and initially set forth in the Fee separate fee schedule described on Schedule B attached to this Agreement. The fees are accrued daily and billed monthly and shall be due and payable upon receipt of the invoice. Upon the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be payable upon the date of termination of this Agreement. In addition, the Funds Company shall reimburse the Administrator for its out-of-pocket costs incurred in connection with this Agreement. The Funds agree Company agrees promptly to reimburse the Administrator for any equipment and supplies specially ordered by or for the Funds Company through the Administrator and for any other expenses not contemplated by this Agreement that the Administrator may incur on the Funds' Company’s behalf at the Funds' Company’s request or with the Funds' consentCompany’s consent provided Administrator provides Company advance written notice detailing the equipment, supplies or expense and the anticipated costs. Each Fund The Company will bear all expenses that are incurred in its operation and not specifically assumed by the Administrator. Expenses to be borne by the FundsCompany, include, but are not limited to: organizational expenses; cost of services of independent accountants and outside legal and tax counsel (including such counsel's ’s review of a Fund's the Company’s registration statement, proxy materials, federal and state tax qualification as a regulated investment company and other reports and materials prepared by the Administrator under this Agreement); cost of any services contracted for by the Funds Company directly from parties other than the Administrator; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the FundsCompany; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its operation; costs incidental to any meetings of shareholders including, but not limited to, legal and accounting fees, proxy filing fees and the costs of preparation, printing and mailing of any proxy materials; costs incidental to Board meetings, including fees and expenses of Board members; the salary and expenses of any officer, director\trustee or employee of the FundsCompany; costs incidental to the preparation, printing and distribution of the Funds' Company’s registration statements and any amendments thereto and shareholder reports; cost of typesetting and printing of prospectuses; cost of preparation and filing of the Funds' Company’s tax returns, Form N-1A or N-2 and Form N-SAR, and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; fidelity bond and directors' ’ and officers' ’ liability insurance; and cost of independent pricing services used in computing each Fund's the Company’s net asset value. The Administrator is authorized to and may employ or associate with such person or persons as the Administrator may deem desirable to assist it in performing its duties under this Agreement; provided, however, that the compensation of such person or persons shall be paid for solely by the Administrator and that the Administrator shall be as fully responsible to the Funds Company for the acts and omissions of any such person or persons as it is for its own acts and omissions, and further provided Administrator provides advance written notice of its intent to do so.

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Administrator Bank shall receive from the Funds Company such compensation for the AdministratorBank's services provided pursuant to this Agreement as may be agreed to from time to time in a written fee schedule approved by the parties and initially set forth in the Fee Schedule to this Agreement. The fees are accrued daily and billed monthly and shall be due and payable upon receipt of the invoice. The Trust shall pay to the Bank any and all compensation and reimbursement of expense that are not paid to the Bank by the Company. Upon the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be payable upon the date of termination of this Agreement. In addition, the Funds Company shall reimburse the Administrator Bank for its out-of-pocket costs incurred in connection with this Agreement. The Funds agree Company agrees promptly to reimburse the Administrator Bank for any equipment and supplies specially ordered by or for the Funds Trust, or the Company, through the Administrator Bank and for any other expenses not contemplated by this Agreement that the Administrator Bank may incur on the Funds' behalf Trust's or Company's behalf, at the Funds' Trust's or the Company's request or with the Funds' Trust's or the Company's consent. Each Fund The Trust will bear all expenses that are incurred in its operation and not specifically assumed by the AdministratorBank. Expenses to be borne by the FundsTrust, include, but are not limited to: organizational expenses; cost of services of independent accountants and outside legal and tax counsel (including such counsel's review of a Fundthe Trust's registration statement, proxy materials, federal and state tax qualification as a regulated investment company and other reports and materials prepared by the Administrator Bank under this Agreement); cost of any services contracted for by the Funds Trust directly from parties other than the AdministratorBank; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the FundsTrust; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its operation; costs incidental to any meetings of shareholders including, but not limited to, legal and accounting fees, proxy filing fees and the costs of preparation, filing (edgarization), printing and mailing of any proxy materials; costs incidental to Board meetings, including fees and expenses of Board members; the salary and expenses of any officer, director\trustee or employee of the FundsTrust; costs incidental to the preparationpreparation (other than pursuant to Section 6W. of this Agreement), filing (edgarization), printing and distribution of the Funds' Trust's registration statements and any amendments thereto and shareholder reports; cost of typesetting and printing of prospectuses; cost of preparation and filing of the Funds' Trust's tax returns, Form N-1A or N-2 returns and Form N-SARSAR (other than pursuant to Section 6f. of this Agreement), and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; fidelity bond and directors' and officers' liability insurance; and cost of independent pricing services used in computing each Fundthe Trust's net asset value. The Administrator Bank is authorized to and may employ or associate with such person or persons as the Administrator Bank may deem desirable to assist it in performing its duties under this Agreement; provided, however, that the compensation of such person or persons shall be paid by the Administrator Bank and that the Administrator Bank shall be as fully responsible to the Funds Trust for the acts and omissions of any such person or persons as it is for its own acts and omissions.

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Administrator shall receive from the Funds Trust such compensation for the Administrator's services provided pursuant to this Agreement as may be agreed to from time to time in a written fee schedule approved by the parties and described in the then current Prospectus and initially as set forth in the Fee on Schedule C to this Agreement. The fees are accrued daily and billed monthly and shall be due and payable upon receipt of the invoice. Upon the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be payable upon the date of termination of this Agreement. In addition, the Funds Trust shall reimburse the Administrator for its out-of-pocket costs incurred in connection with this Agreement. The Administrator shall bear all ordinary operating expenses of each Fund, including ordinary legal and audit expenses. However, should a Fund cease to invest substantially all of its assets in the corresponding Portfolio of the State Street Master Funds agree promptly to reimburse then such Fund of the Administrator for any equipment and supplies specially ordered by or for the Funds through the Administrator and for any other expenses not contemplated by this Agreement that the Administrator may incur on the Funds' behalf at the Funds' request or with the Funds' consent. Each Fund will Trust shall bear all expenses that are incurred in its operation and not specifically assumed by the Administratoroperation. Expenses to be borne by the Funds, Such expenses will include, but are not limited to: organizational expenses; cost of services of independent accountants and outside legal and tax counsel (including such counsel's review of a Fundthe Trust's registration statement, proxy materials, federal and state tax qualification as a regulated investment company and other reports and materials prepared by the Administrator under this Agreement); cost of any services contracted for by the Funds Trust directly from parties other than the Administrator; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the FundsTrust; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its operation; costs incidental to any meetings of shareholders including, but not limited to, legal and accounting fees, proxy filing fees and the costs of preparation, printing and mailing of any proxy materials; costs incidental to Board meetings, including fees and expenses of Board members; the salary and expenses of any officer, director\trustee or employee of the FundsTrust; costs incidental to the preparation, printing and distribution of the Funds' Trust's registration statements and any amendments thereto and shareholder reports; cost of typesetting and printing of prospectuses; cost of preparation and filing of the Funds' Trust's tax returns, Form N-1A or N-2 and Form N-SAR, and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; fidelity bond and directors' and officers' liability insurance; and cost of independent pricing services used in computing each Fundthe Trust's net asset value. The Trust agrees promptly to reimburse the Administrator for any extraordinary expenses that the Administrator may incur on the Trust's behalf at the Trust's request or with the Trust's consent. The Administrator is authorized to and may employ or associate with such person or persons as the Administrator may deem desirable to assist it in performing its duties under this Agreement; provided, however, that the compensation of such person or persons shall be paid by the Administrator and that the Administrator shall be as fully responsible to the Funds Trust for the acts and omissions of any such person or persons as it is for its own acts and omissions.

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Administrator shall receive from the Funds each Investment Fund such compensation for the Administrator's services provided pursuant to this Agreement as may be agreed to from time to time in a written fee schedule approved by the parties and initially set forth in the Fee Schedule B to this Agreement. The fees are accrued daily and billed monthly and shall be due and payable upon receipt of the invoice. Upon the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be payable upon the date of termination of this Agreement. In addition, the Funds each Investment Fund shall reimburse the Administrator for its out-the Investment Fund's share of out- of-pocket costs incurred by the Administrator in connection with this Agreement. The Funds agree Agreement as initially set forth in Schedule B. Each Investment Fund agrees to promptly to reimburse the Administrator for any equipment and supplies specially ordered by or for the Funds it through the Administrator and for any other expenses not contemplated by this Agreement that the Administrator may incur on the Funds' Investment Fund's behalf at the Funds' Investment Fund's request or with the Funds' Investment Fund's consent. Each The Fund will bear all expenses that are incurred in its operation and not specifically assumed by the Administrator. Expenses to be borne by the FundsFund, include, but are not limited to: organizational expenses; cost of services of independent accountants and outside legal and tax counsel (including such counsel's review of a the Fund's registration statement, proxy materials, federal and state tax qualification as a regulated investment company and other reports and materials prepared by the Administrator under this Agreement); cost of any services contracted for by the Funds Fund directly from parties other than the Administrator; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the FundsFund; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its operation; costs incidental to any meetings of shareholders including, but not limited to, legal and accounting fees, proxy filing fees and the costs of preparation, printing and mailing of any proxy materials; costs incidental to Board meetings, including fees and expenses of Board members; the salary and expenses of any officer, director\trustee director or employee of the FundsFund; costs incidental to the preparation, printing and distribution of the Funds' Fund's registration statements and any amendments thereto and shareholder reports; cost of typesetting and printing of prospectuses; cost of preparation (other than the preparation specified in Section 5) and filing of the Funds' Fund's tax returns, Form N-1A or N-2 and Form N-SAR, and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; fidelity bond and directors' and officers' liability insurance; and cost of independent pricing services used in computing each the Fund's net asset value. The Administrator is authorized to and may employ or associate with such person or persons as the Administrator may deem desirable to assist it in performing its duties under this Agreement; provided, however, that the compensation of such person or persons shall be paid by the Administrator and that the Administrator shall be as fully responsible to the Funds Fund for the acts and omissions of any such person or persons as it is for its own acts and omissions.

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Administrator Bank shall receive from the Funds such be entitled to reasonable compensation for the Administrator's its services provided pursuant to this Agreement and expenses, as may be agreed to upon from time to time in a written fee schedule approved by writing between the parties Trust on behalf of each applicable Fund and initially set forth in the Fee Schedule to this AgreementBank. The fees are accrued daily and billed monthly and shall be due and payable upon receipt of the invoice. Upon the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be payable upon the date of termination of this Agreement. In addition, the Funds shall reimburse the Administrator for its out-of-pocket costs incurred in connection with this Agreement. The Funds agree Trust agrees promptly to reimburse the Administrator Bank for any equipment and supplies specially ordered by or for the Funds Trust through the Administrator Bank and for any other expenses not contemplated by this Agreement that the Administrator Bank may incur on the Funds' Trust’s behalf at the Funds' Trust’s request or with the Funds' Trust’s consent. Each Fund The Trust acknowledges and agrees that the Trust will bear all expenses that are incurred in its the Trust’s operation and not specifically assumed by the AdministratorBank. Expenses to be borne For the avoidance of doubt, Trust expenses not assumed by the Funds, Bank include, but are not limited to: organizational expenses; cost of services of independent accountants and outside legal and tax counsel (including such counsel's ’s review of a Fund's registration statementthe Registration Statement, Form N-CSR, Form N-Q, Form N-PX, Form N-MFP, Form N-SAR, proxy materials, federal and state tax qualification as a regulated investment company and other reports notices, registrations, reports, filings and materials prepared by the Administrator under this Agreement); cost of any services contracted for by the Funds Trust directly from parties other than the Administrator; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the FundsTrust; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its operation; costs incidental to any meetings of shareholders including, but not limited to, legal and accounting fees, proxy filing fees and the costs of preparationpreparation (e.g., printing typesetting, XBRL-tagging, page changes and all other print vendor and XXXXX charges, collectively referred to herein as “Preparation”), printing, distribution and mailing of any proxy materials; costs incidental to Board meetings, including fees and expenses of Board members; the salary and expenses of any officer, director\trustee or employee of the FundsTrust; costs incidental to the preparationof Preparation, printing printing, distribution and distribution mailing, as applicable, of the Funds' registration statements Trust’s Registration Statements and any amendments and supplements thereto and shareholder reports; cost of typesetting and printing of prospectuses; cost of preparation Preparation and filing of the Funds' Trust’s tax returns, Form N-1A or N-2 N-lA, Form N-CSR, Form N-Q, Form N-PX, Form N-MFP and Form N-SAR, and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; the cost of fidelity bond and directors' and officers' D&O/E&O liability insurance; and the cost of independent pricing services used in computing each Fund's the Fund(s)’ net asset value. The Administrator Bank is authorized to and may employ or associate with such person or persons as the Administrator Bank may deem desirable to assist it in performing its duties under this Agreement; provided, however, that the compensation of such person person. or persons shall be paid by the Administrator Bank and that the Administrator Bank shall be as fully responsible to the Funds Trust for the acts and omissions of any such person or persons as it is for its own acts and omissions.

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Administrator shall receive from the Funds Fund such compensation for the Administrator's services provided pursuant to this Agreement as may be agreed to from time to time in a written fee schedule approved by the parties and initially set forth in the Fee Schedule B to this Agreement. The fees are accrued daily and billed monthly and shall be due and payable upon receipt of the invoice. Upon the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be payable upon the date of termination of this Agreement. In addition, the Funds Fund shall reimburse the Administrator for its necessary and reasonable out-of-pocket costs incurred in connection with this Agreement. The Funds agree Administrator shall not incur out-of-pocket expenses chargeable to an Investment Fund in excess of ten percent of such Investment Fund's annual fees charged hereunder in any Fund fiscal year without the prior written consent of the Fund. The Fund agrees promptly to reimburse the Administrator for any equipment and supplies specially ordered by or for the Funds Fund through the Administrator and for any other expenses not contemplated by this Agreement that the Administrator may incur on the Funds' Fund's behalf at the Funds' Fund's request or with the Funds' Fund's written consent. Each The Fund will bear all expenses that are incurred in its operation and not specifically assumed by the AdministratorAdministrator as provided elsewhere in this Agreement, particularly Section 5. Expenses to be borne by the FundsFund, include, but are not limited to: organizational expenses; cost of services of independent accountants and outside legal and tax counsel (including such counsel's review of a the Fund's registration statement, proxy materials, federal and state tax qualification as a regulated investment company and other reports and materials prepared by the Administrator under this Agreement); cost of any services contracted for by the Funds Fund directly from parties other than the Administrator; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the FundsFund; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its operation; costs incidental to any meetings of shareholders including, but not limited to, legal and accounting fees, proxy filing fees and the costs of preparationpreparation (except as provided elsewhere herein), printing and mailing of any proxy materials; costs incidental to Board meetings, including fees and expenses of Board members; the salary and expenses of any officer, director\trustee director or employee of the FundsFund; costs incidental to the preparationpreparation (except as provided elsewhere herein), printing and distribution of the Funds' Fund's registration statements and any amendments thereto and shareholder reportsreports (excluding any portion of these costs that may be deemed to be properly chargeable to sales or promotional activities and therefore borne by an entity other than the Fund or the Administrator); cost of typesetting and printing of prospectusesprospectuses (excluding any portion of these costs that may be deemed to be properly chargeable to sales or promotional activities and therefore borne by an entity other than the Fund or the Administrator); cost of preparation (except as provided elsewhere herein) and filing of the Funds' Fund's tax returns, Form N-1A or N-2 and Form N-SAR, and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; fidelity bond and directors' and officers' liability insurance; and cost of independent pricing services used in computing each the Fund's net asset value. The Administrator is authorized to and may employ or associate with such person or persons as the Administrator may deem desirable to assist it in performing its duties under this Agreement; provided, however, that the compensation of such person or persons shall be paid by the Administrator and that the Administrator shall be as fully responsible to the Funds Fund for the acts and omissions of any such person or persons as it is for its own acts and omissions.

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Administrator shall receive from the Funds Fund with respect to each Series such compensation for the Administrator's services provided pursuant to this Agreement as may be agreed to from time to time in a written fee schedule approved by the parties and initially set forth in the Fee Schedule B to this Agreement. The fees are accrued daily and to be billed monthly and shall be due and payable promptly upon receipt of the invoice. Upon the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be payable upon the date of termination of this Agreement. In addition, the Funds Fund shall reimburse the Administrator for its reasonable out-of-pocket costs incurred in connection with its services under this Agreement. The Funds agree promptly Fund agrees to reimburse the Administrator promptly for any equipment and supplies specially ordered by or for the Funds Fund through the Administrator and for any other expenses not contemplated by this Agreement that the Administrator may incur on the Funds' Fund's behalf at the Funds' Fund's request or with as consented to by the Funds' consentFund in advance in writing. Each The Fund will bear all expenses that are incurred in its operation and not specifically assumed by the Administrator. Expenses to be borne directly or indirectly by the Funds, Fund with respect to each Series include, but are not limited to: organizational expenses; cost of services of independent accountants and outside legal and tax counsel (including such counsel's review of a the Fund's registration statement, proxy materials, federal and state tax qualification as a regulated investment company and other reports and materials prepared by the Administrator under this Agreement); cost of any services contracted for by the Funds Fund directly from parties other than the Administrator; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the FundsFund; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its operation; costs incidental to any meetings of shareholders including, but not limited to, legal and accounting fees, fees of independent accountants and proxy filing fees and the costs of preparationpreparation (other than the preparation specified in Section 5, subject to Schedule B), printing and mailing of any proxy materials; costs incidental to Board meetings, including fees and expenses of Board members; the salary and expenses of any officer, officer or director\trustee or employee of the FundsFund (to the extent that any are paid); costs incidental to the preparationpreparation (other than the preparation specified in Section 5, subject to Schedule B), printing and distribution of the Funds' registration statements and any amendments thereto and Fund's shareholder reports; cost of typesetting and printing of prospectuses; cost of preparation (other than the preparation specified in Section 5, subject to Schedule B), and filing of the Funds' Fund's tax returns, Form N-1A or N-2 and Form N-N- SAR, and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; fidelity bond and directors' and officers' liability insurance; insurance and the cost of independent pricing services used in computing each the net asset value of the Fund's net asset valueSeries, as set forth in the Custodian Contract between the Fund and the Administrator. The Administrator is authorized to and may employ or associate with such person or persons as the Administrator may deem desirable to assist it in performing its duties under this Agreement; provided, 8 however, that the compensation of such person or persons shall be paid by the Administrator and that the Administrator shall be as fully responsible to the Funds Fund for the acts and omissions of any such person or persons as it is for its own acts and omissions; and further provided that the Administrator shall not make a material delegation of its duties, except in accordance with Section 14 of this Agreement.

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Administrator shall receive from the Funds Trust such compensation for the Administrator's services provided pursuant to this Agreement as may be agreed to from time to time in a written fee schedule approved by the parties and initially set forth in the Fee Schedule B to this Agreement. The fees are accrued daily and billed monthly and shall be due and payable upon receipt of the invoice. Upon the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be payable upon the date of termination of this Agreement. In addition, the Funds Trust shall reimburse the Administrator for its out-of-pocket costs incurred in connection with this Agreement. The Funds agree Trust agrees promptly to reimburse the Administrator for any equipment and supplies specially ordered by or for the Funds Trust through the Administrator and for any other expenses not contemplated by this Agreement that the Administrator may incur on the Funds' Trust's behalf at the Funds' Trust's request or with the Funds' Trust's consent. Each Fund The Trust will bear all expenses that are incurred in its operation and not specifically assumed by the Administrator. Expenses to be borne by the FundsTrust, include, but are not limited to: organizational expenses; cost of services of independent accountants and outside legal and tax counsel (including such counsel's review of a Fundthe Trust's registration statement, proxy materials, federal and state tax qualification as a regulated investment company and other reports and materials prepared by the Administrator under this Agreement); cost of any services contracted for by the Funds Trust directly from parties other than the Administrator; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the FundsTrust; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its operation; costs incidental to any meetings of shareholders including, but not limited to, legal and accounting fees, proxy filing fees and the costs of preparationpreparation (excluding preparation as provided in Section 5y), printing and mailing of any proxy materials; costs incidental to Board meetings, including fees and expenses of Board members; the salary and expenses of any officer, director\trustee or employee of the FundsTrust; costs incidental to the preparationpreparation (excluding preparation as provided in Section 5x), printing and distribution of the Funds' Trust's registration statements and any amendments thereto and shareholder reports; cost of typesetting and printing of prospectuses; cost of preparation and XXXXX filing (excluding preparation as provided in Section 5x) and filing of the Funds' Trust's tax returns, Form N-1A or N-2 and Form N-SAR, and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; fidelity bond and directors' and officers' liability insurance; and cost of independent pricing services used in computing each Fundthe Trust's net asset value. The Administrator is authorized to and may employ or associate with such person or persons as the Administrator may deem desirable to assist it in performing its duties under this Agreement; provided, however, that the compensation of such person or persons shall be paid by the Administrator and that the Administrator shall be as fully responsible to the Funds Trust for the acts and omissions of any such person or persons as it is for its own acts and omissions.

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Administrator Bank shall receive from the Funds Company such compensation for the AdministratorBank's services provided pursuant to this Agreement as may be agreed to from time to time in a written fee schedule Fee Schedule approved by the parties and initially set forth in the Fee Schedule to this Agreementparties. The fees are accrued daily and billed monthly and shall be due and payable upon receipt of the applicable invoice. Each Fund shall pay to the Bank any and all compensation and reimbursement of expense for such Fund that is not paid to the Bank by the Company. Upon the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be payable upon the date of termination of this Agreement. In addition, the Funds Company shall reimburse the Administrator Bank for its out-of-pocket costs incurred in connection with this Agreement. All rights of compensation and expense reimbursement under this Agreement for services performed as of the termination date shall survive the termination of this Agreement. The Funds agree Company agrees promptly to reimburse the Administrator Bank for any equipment and supplies specially ordered by or for a Fund, or the Funds Company, through the Administrator Bank and for any other expenses not contemplated by this Agreement that the Administrator Bank may incur on the a Funds' behalf or the Company's behalf, at the Funds' Company's request or with the Funds' Fund's or the Company's consent. Each Fund will bear all expenses that are incurred in its operation and not specifically assumed by the AdministratorBank. Expenses to be borne by the Fundseach Fund, include, but are not limited to: organizational expenses; cost of services of independent accountants and outside legal and tax counsel (including such counsel's review of a Fund's registration statementthe Registration Statement, Form N-CSR, Form N-Q, Form N-PX, From N-SAR, proxy materials, federal and state tax qualification as a regulated investment company and other reports notices, registrations, reports, filings and materials prepared by the Administrator Bank under this Agreement); cost of any services contracted for by the Funds Fund directly from parties other than the AdministratorBank; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the FundsFund; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its operation; costs incidental to any meetings of shareholders including, but not limited to, legal and accounting fees, proxy filing fees and the costs of preparationpreparation (e.g., printing typesetting, page changes and all other print vendor and EDGAR charges, collectively referred to herein as "Preparation"), xrinting, distribution and mailing of any proxy materials; costs incidental to Board meetings, including fees and expenses of Board members; the salary and expenses of any officer, director\trustee or employee of the FundsFund; costs incidental to the preparationof Preparation, printing printing, distribution and distribution mailing, as applicable, of the Funds' registration statements Fund's Registration Statements and any amendments and supplements thereto and shareholder reports; cost of typesetting and printing of prospectuses; cost of preparation Preparation and filing of the Funds' Fund's tax returns, Form N-1A or N-2 N-1A, Form N-CSR, Form N-Q, Form N-PX and Form N-SAR, and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; the cost of fidelity bond and directors' and officers' D&O/E&O liability insurance; and cost of independent pricing services used in computing each Fund's Funds' net asset value. The Administrator Bank is authorized to and may employ employ, associate or associate contract with such person or persons as the Administrator Bank may deem desirable to assist it in performing its duties under this Agreement; provided, however, that the compensation of such person or persons shall be paid by the Administrator Bank and that the Administrator Bank shall be as fully responsible to the Funds for the acts and omissions of any such person or persons as it is for its own acts and omissions.

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Administrator shall receive from the Funds Advisors such compensation for the Administrator's services provided pursuant to this Agreement as may be mutually agreed to by the parties from time to time in a written separate fee schedule approved by (the parties and initially set forth in the "Fee Schedule Schedule"). Advisors agrees to this Agreement. The fees are accrued daily and billed monthly and shall be due and payable upon receipt of the invoice. Upon the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be payable upon the date of termination of this Agreement. In addition, the Funds shall reimburse the Administrator for its out-of-pocket costs incurred in connection with this Agreement. The Funds agree promptly to reimburse the Administrator for any equipment and supplies specially ordered by or for the Funds through the Administrator upon Advisors' written request or approval and for any other expenses not contemplated by this Agreement that the Administrator may incur on the Funds' Fund's behalf at the FundsAdvisors' written request or with the Funds' consentapproval. Each Fund The Administrator will bear all expenses that are incurred in the performance of its operation duties under this Agreement and not specifically assumed by the AdministratorAdvisors. Expenses Except as noted herein, expenses to be borne by the Funds, include, but are not limited toAdvisors are: organizational expenses; cost of services of the Fund's independent accountants and outside legal and tax counsel (including such counsel's review of a the Fund's registration statement, proxy materials, federal and state tax qualification as a regulated investment company and other reports and materials prepared by the Administrator under this Agreement); cost of any services contracted for by the Funds Advisors directly from parties other than the Administrator; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the FundsFund (which costs shall be borne by the Fund); investment advisory feesmanagement fees (which costs shall be borne by the Fund); taxestaxes (which shall be borne by the Fund), insurance premiums and other fees and expenses applicable to its the Fund's operation; costs incidental to any meetings of the Fund's shareholders including, but not limited to, legal and accounting fees, proxy filing fees and the costs of preparation, printing and mailing of any proxy materials; costs incidental to Board meetings, including meetings (except for fees and expenses of Board membersthe Fund's Trustees who are not "interested persons" as such term is defined in the 1940 Act, which fees and expenses shall be borne by the Fund); the salary and expenses of any officer, director\trustee officer or employee of the FundsFund; costs incidental to the preparation, filing, printing and distribution of the Funds' Fund's registration statements and any amendments thereto and shareholder reports; cost of typesetting and printing of prospectuses; cost of preparation and filing of the Funds' Fund's tax returns, Form Forms N-1A or N-2 and Form N-SAR, and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; and fidelity bond and directors' and officers' liability insurance; and cost of independent pricing services used in computing each Fund's net asset value. The Administrator is authorized to and may employ or associate with such person or persons as the Administrator may deem desirable to assist it in performing its duties under this Agreement; provided, however, that the compensation of such person or persons shall be paid by the Administrator and that the Administrator shall be as fully responsible to Advisors or to the Funds Fund for the acts and or omissions of any such person or persons as it is for its own acts and or omissions.

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Administrator shall receive from the Funds Adviser such compensation for the Administrator's services provided pursuant to this Agreement as may be agreed to from time to time in a written fee schedule approved by the parties parties, and initially set forth as a "Unitary Fee" in the Custody, Accounting, Transfer Agent, Stock Transfer, Fund Administration and Advisory Fee Schedule to this Agreement. The fees are accrued daily and billed monthly and shall be due and payable upon receipt of the invoice. Upon the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be payable upon the date of termination of this Agreement. In addition, the Funds Trust shall reimburse the Administrator for its out-of-pocket costs incurred in connection with this Agreement. The Funds agree Adviser agrees promptly to reimburse the Administrator for any equipment and supplies specially ordered by or for the Funds Trust through the Administrator and for any other expenses not contemplated by this Agreement that the Administrator may incur on the Funds' Trust's behalf at the Funds' Trust's request or with the Funds' Trust's consent. Each Fund The Adviser or the Trust will bear all expenses that are incurred in its operation and not specifically assumed by the AdministratorAdministrator or another party. Expenses to be borne by the FundsAdviser or the Trust, include, but are not limited to: organizational expenses; cost of services of independent accountants and outside legal and tax counsel (including such counsel's review of a Fundthe Trust's registration statement, proxy materials, federal and state tax qualification as a regulated investment company and other reports and materials prepared by the Administrator under this Agreement); cost of any services contracted for by the Funds Trust directly from parties other than the Administrator; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the FundsTrust; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its operation; costs incidental to any meetings of shareholders including, but not limited to, legal and accounting fees, proxy filing fees and the costs of preparation, printing and mailing of any proxy materials; costs incidental to Board meetings, including fees and expenses of Board members; the salary and expenses of any officer, director\trustee or employee of the FundsTrust; costs incidental to the preparation, printing and distribution of the Funds' Trust's registration statements and any amendments thereto and shareholder reports; cost of typesetting and printing of prospectuses; cost of preparation and filing of the Funds' Trust's tax returns, Form N-1A or N-2 and Form N-SAR, and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; fidelity bond and directors' and officers' liability insurance; and cost of independent pricing services used in computing each Fundthe Trust's net asset value. The Administrator is authorized to and may employ or associate with such person or persons as the Administrator may deem desirable to assist it in performing its duties under this Agreement; provided, however, that the compensation of such person or persons shall be paid by the Administrator and that the Administrator shall be as fully responsible to the Funds Trust for the acts and omissions of any such person or persons as it is for its own acts and omissions.or

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Administrator shall receive from the Funds Trust such compensation for the Administrator's services provided pursuant to this Agreement as may be agreed to from time to time in a written fee schedule approved by the parties and initially set forth in the Fee Schedule to this Agreement. The fees are accrued daily and billed monthly and shall be due and payable upon receipt of the invoice. Upon the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be payable upon the date of termination of this Agreement. In addition, the Funds Trust shall reimburse the Administrator for its out-of-pocket costs incurred in connection with this Agreement. All rights of compensation and expense reimbursement under this Agreement for services performed as of the termination date shall survive the termination of this Agreement. The Funds agree Trust agrees promptly to reimburse the Administrator for any equipment and supplies specially ordered by or for the Funds Trust through the Administrator and for any other expenses not contemplated by this Agreement that the Administrator may incur on the Funds' Trust's behalf at the Funds' Trust's request or with the Funds' Trust's consent. Each Fund The Trust will bear all expenses that are incurred in its operation and not specifically assumed by the Administrator. Expenses to be borne by the FundsTrust, include, but are not limited to: organizational expenses; cost of services of independent accountants and outside legal and tax counsel (including such counsel's review of a Fundthe Trust's registration statement, proxy materials, federal and state tax qualification as a regulated investment company and other reports and materials prepared by the Administrator under this Agreement); cost of any services contracted for by the Funds Trust directly from parties other than the Administrator; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the FundsTrust; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its operation; costs incidental to any meetings of shareholders including, but not limited to, legal and accounting fees, proxy filing fees and the costs of preparation, printing and mailing of any proxy materials; costs incidental to Board meetings, including fees and expenses of Board members; the salary and expenses of any officer, director\trustee director trustee or employee of the FundsTrust; costs incidental to the preparation, printing and distribution of the Funds' Trust's registration statements and any amendments thereto and shareholder reports; cost of typesetting and printing of prospectuses; cost of preparation and filing of the Funds' Trust's tax returns, Form N-1A or N-2 N-2, Form N-CSR, Form N-Q, Form N-PX and Form N-SAR, and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; fidelity bond and directors' and officers' liability insurance; and cost of independent pricing services used in computing each Fund's the Investment Funds' net asset valuevalues. The Administrator is authorized to and may employ or associate with such person or persons as the Administrator may deem desirable to assist it in performing its duties under this Agreement; provided, however, that the compensation of such person or persons shall be paid by the Administrator and that the Administrator shall be as fully responsible to the Funds Trust for the acts and omissions of any such person or persons as it is for its own acts and omissions.

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Administrator shall receive from the Funds Advisors such compensation for the Administrator's services provided pursuant to this Agreement as may be mutually agreed to by the parties from time to time in a written fee schedule approved by the parties and initially set forth in the Fee Schedule to this included in the Transfer Agency Agreement. The fees are accrued daily and billed monthly and shall be due and payable upon receipt of the invoice. Upon the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according Advisors agrees to the proportion which such part bears to the full monthly period and shall be payable upon the date of termination of this Agreement. In addition, the Funds shall reimburse the Administrator for its out-of-pocket costs incurred in connection with this Agreement. The Funds agree promptly to reimburse the Administrator for any equipment and supplies specially ordered by or for the Funds through the Administrator upon Advisors' written request or approval and for any other expenses not contemplated by this Agreement that the Administrator may incur on the Funds' Fund's behalf at the FundsAdvisors' written request or with the Funds' consentapproval. Each Fund The Administrator will bear all expenses that are incurred in the performance of its operation duties under this Agreement and not specifically assumed by the AdministratorAdvisors. Expenses Except as noted herein, expenses to be borne by the Funds, include, but are not limited toAdvisors are: organizational expenses; cost of services of the Fund's independent accountants and outside legal and tax counsel (including such counsel's review of a the Fund's registration statement, proxy materials, federal and state tax qualification as a regulated investment company and other reports and materials prepared by the Administrator under this Agreement); cost of any services contracted for by the Funds Advisors directly from parties other than the Administrator; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the FundsFund (which costs shall be borne by the Fund); investment advisory feesmanagement fees (which costs shall be borne by the Fund); taxestaxes (which shall be borne by the Fund), insurance premiums and other fees and expenses applicable to its the Fund's operation; costs incidental to any meetings of the Fund's shareholders including, but not limited to, legal and accounting fees, proxy filing fees and the costs of preparation, printing and mailing of any proxy materials; costs incidental to Board meetings, including meetings (except for fees and expenses of Board membersthe Fund's Trustees who are not "interested persons" as such term is defined in the 1940 Act, which fees and expenses shall be borne by the Fund); the salary and expenses of any officer, director\trustee officer or employee of the FundsFund; costs incidental to the preparation, filing, printing and distribution of the Funds' Fund's registration statements and any amendments thereto and shareholder reports; cost of typesetting and printing of prospectuses; cost of preparation and filing of the Funds' Fund's tax returns, Form Forms N-1A or N-2 and Form N-SAR, and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; and fidelity bond and directors' and officers' liability insurance; and cost of independent pricing services used in computing each Fund's net asset value. The Administrator is authorized to and may employ or associate with such person or persons as the Administrator may deem desirable to assist it in performing its duties under this Agreement; provided, however, that the compensation of such person or persons shall be paid by the Administrator and that the Administrator shall be as fully responsible to Advisors or to the Funds Fund for the acts and or omissions of any such person or persons as it is for its own acts and or omissions.

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Administrator shall receive from the Funds Fund such compensation for the Administrator's services provided pursuant to this Agreement as may be agreed to from time to time in a written fee schedule approved by the parties and initially set forth in the Fee Schedule B to this Agreement. The fees are accrued daily and billed monthly and shall be due and payable upon within 45 days of receipt of the invoice. Upon the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be payable upon the date of termination of this Agreement. In addition, the Funds Fund shall reimburse the Administrator for its out-of-pocket costs incurred in connection with this Agreement. The Funds agree Fund agrees promptly to reimburse the Administrator for any equipment and supplies specially ordered by or for the Funds Fund through the Administrator and for any other expenses not contemplated by this Agreement that the Administrator may incur on the Funds' Fund's behalf at the Funds' Fund's request or with the Funds' Fund's consent. Each The Fund will bear all expenses that are incurred in its operation and not specifically assumed by the Administrator. Expenses to be borne by the FundsFund, include, but are not limited to: organizational expenses; cost of services of independent accountants and outside legal and tax counsel engaged by the Fund (including such counsel's review of a the Fund's registration statement, proxy materials, federal and state tax qualification as a regulated investment company and other reports and materials prepared by the Administrator under this Agreement); cost of any services contracted for by the Funds Fund directly from parties other than the Administrator; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the FundsFund; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its operation; costs incidental to any meetings of shareholders including, but not limited to, legal and accounting fees, proxy filing fees and the costs of preparationpreparation (excluding preparation by the Administrator as provided in Section 5y, above but including cost of preparation for filing by XXXXX), printing and mailing of any proxy materials; costs incidental to Board meetings, including fees and expenses of Board members; the salary and expenses of any officer, director\trustee trustee or employee of the FundsFund; costs incidental to the preparationpreparation (excluding preparation by the Administrator of financial information as provided in Section 5e above), printing and distribution of the Funds' registration statements and any amendments thereto and Fund's shareholder reports; cost of typesetting and printing of prospectuses; cost of preparation (except as provided in Sections 5c and 5y, above) and filing of the Funds' Fund's tax returns, Form N-1A or N-2 and Form N-SAR, and cost of preparation (excluding preparation by the Administrator as provided in Section 5f, above but including cost of preparation for filing by XXXXX) and filing of Form N-1A, and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; fidelity bond and directors' and officers' liability insurance; and cost of independent pricing services used in computing each the Fund's net asset value. The Administrator is authorized to and may employ or associate with such person or persons retain the services of service providers as the Administrator may deem desirable to assist it in performing its duties under this Agreement; provided, however, that the compensation of such person or persons shall be paid by the Administrator and that the Administrator shall be as fully responsible to the Funds Fund for the acts and omissions of any such person or persons service providers as it is for its own acts and omissions; and further provided that the Administrator shall notify the Fund of the retention of such service providers.

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Administrator shall receive from the Funds each Fund such compensation for the Administrator's services provided pursuant to this Agreement as may be agreed to from time to time in a written fee schedule approved by the parties and initially set forth in the Fee Schedule B to this Agreement. The fees are accrued daily and billed monthly and shall be due and payable upon receipt of the invoice. Upon the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be payable upon the date of termination of this Agreement. In addition, the Funds each Fund shall reimburse the Administrator for its out-of-pocket costs incurred in connection with this Agreement. The Funds agree Agreement as initially set forth in Schedule B. Each Fund agrees to promptly to reimburse the Administrator for any equipment and supplies specially ordered by or for the Funds Fund through the Administrator and for any other expenses not contemplated by this Agreement that the Administrator may incur on the Funds' Fund's behalf at the Funds' Fund's request or with the Funds' Fund's consent. Each Fund will bear all expenses that are incurred in its operation and not specifically assumed by the Administrator. Expenses to be borne by the Fundsa Fund, include, but are not limited to: organizational expenses; cost of services of independent accountants and outside legal and tax counsel (including such counsel's review of a the Fund's registration statement, proxy materials, federal and state tax qualification as a regulated investment company and other reports and materials prepared by the Administrator under this Agreement); cost of any services contracted for by the Funds Fund directly from parties other than the Administrator; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the FundsFund; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its operation; costs incidental to any meetings of shareholders including, but not limited to, legal and accounting fees, proxy filing fees and the costs of preparation, printing and mailing of any proxy materials; costs incidental to Board meetings, including fees and expenses of Board members; the salary and expenses of any officer, director\trustee director or employee of the FundsFund; costs incidental to the preparation, printing and distribution of the Funds' Fund's registration statements and any amendments thereto and shareholder reports; cost of typesetting and printing of prospectuses; cost of preparation (other than the preparation specified in Section 5) and filing of the Funds' Fund's tax returns, Form N-1A or N-2 and Form N-SAR, and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; fidelity bond and directors' and officers' liability insurance; and cost of independent pricing services used in computing each Fund's net asset value. The Administrator is authorized to and may employ or associate with such person or persons as the Administrator may deem desirable to assist it in performing its duties under this Agreement; provided, however, that the compensation of such person or persons shall be paid by the Administrator and that the Administrator shall be as fully responsible to the Funds a Fund for the acts and omissions of any such person or persons as it is for its own acts and omissions.

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Administrator shall receive from the Funds Fund such compensation for the Administrator's ’s services provided pursuant to this Agreement as may be agreed to from time to time in a written fee schedule Fee Schedule approved by the parties and initially set forth in the Fee Schedule to this Agreementparties. The fees are accrued daily and billed monthly and shall be due and payable upon receipt of the invoice. Upon the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be payable upon the date of termination of this Agreement. In addition, the Funds Fund shall reimburse the Administrator for its out-of-pocket costs incurred in connection with this Agreement, including reasonable counsel fees. All rights of compensation and expense reimbursement under this Agreement for services performed as of the termination date shall survive the termination of this Agreement. The Funds agree Fund agrees promptly to reimburse the Administrator for any equipment and supplies specially ordered by or for the Funds Fund through the Administrator and for any other expenses not contemplated by this Agreement that the Administrator may incur on the Funds' Fund’s behalf at the Funds' Fund’s request or with the Funds' Fund’s consent. Each The Fund will bear all expenses that are incurred in its operation and not specifically assumed by the Administrator. Expenses to be borne by the FundsFund, include, but are not limited to: organizational expenses; cost of services of independent accountants and outside legal and tax counsel (including such counsel's ’s review of a Fund's the registration statement, Form N-CSR, Form N-Q, Form N-PX, Form N-SAR, tender offer materials, proxy materials, federal and state tax qualification as a regulated investment company and other reports notices, registrations, reports, filings and materials prepared by the Administrator under this Agreement); cost of any services contracted for by the Funds Fund directly from parties other than the Administrator; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the FundsFund; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its operation; costs incidental to any meetings of shareholders including, but not limited to, legal and accounting fees, tender offer and proxy filing fees and the costs of preparationpreparation (e.g., printing typesetting, XBRL-tagging, page changes and all other print vendor and XXXXX charges, collectively referred to herein as “Preparation”), printing, distribution and mailing of any tender offer or proxy materials; costs incidental to Board meetings, including fees and expenses of Board members; the salary and expenses of any officer, director\trustee or employee of the FundsFund; costs incidental to the preparationof Preparation, printing printing, distribution and distribution mailing, as applicable, of the Funds' Fund’s registration statements and any amendments and supplements thereto and shareholder reports; cost of typesetting and printing of prospectuses; cost of preparation Preparation and filing of the Funds' Fund’s tax returns, Form N-1A or N-2 N-2, Form N-CSR, Form N-Q, Form N-PX and Form N-SAR, and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; the cost of fidelity bond and directors' and officers' D&O/E&O liability insurance; and the cost of independent pricing services used in computing each Fund's the Fund(s)’ or Portfolio(s)’ net asset value. The Administrator is authorized to and may employ employ, associate or associate contract with such person or persons as the Administrator may deem desirable to assist it in performing its duties under this Agreement; provided, however, that the compensation of such person or persons shall be paid by the Administrator and that the Administrator shall be as fully folly responsible to the Funds Fund for the acts and omissions of any such person or persons as it is for its own acts and omissions.

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Administrator shall receive from the Funds Trust such compensation for the Administrator's services provided pursuant to this Agreement as may be agreed to from time to time in a written fee schedule approved by the parties and initially set forth in the Fee Schedule to this Agreement. The fees are accrued daily and billed monthly and shall be due and payable upon receipt of the invoice. Upon the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be payable upon the date of termination of this Agreement. In addition, the Funds Trust shall reimburse the Administrator for its out-of-pocket costs incurred in connection with this Agreement. The Funds agree Trust agrees promptly to reimburse the Administrator for any equipment and supplies specially ordered by or for the Funds Trust through the Administrator and for any other expenses not contemplated by this Agreement that the Administrator may incur on the Funds' Trust's behalf at the Funds' Trust's request or with the Funds' Trust's consent. Each Fund The Trust will bear all expenses that are incurred in its operation and not specifically assumed by the Administrator. Expenses to be borne by the FundsTrust, include, but are not limited to: organizational expenses; cost of services of independent accountants and outside legal and tax counsel (including such counsel's review of a Fundthe Trust's registration statement, proxy materials, federal and state tax qualification as a regulated investment company and other reports and materials prepared by the Administrator under this Agreement); cost of any services contracted for by the Funds Trust directly from parties other than the Administrator; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the FundsTrust; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its operation; costs incidental to any meetings of shareholders including, but not limited to, legal and accounting fees, proxy filing fees and the costs of preparation, printing and mailing of any proxy materials; costs incidental to Board meetings, including fees and expenses of Board members; the salary and expenses of any officer, director\trustee or employee of the FundsTrust; costs incidental to the preparation, printing and distribution of the Funds' Trust's registration statements and any amendments thereto and shareholder reports; cost of typesetting and printing of prospectuses; cost of preparation and filing of the Funds' Trust's tax returns, Form N-1A or N-2 and Form N-SAR, and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; fidelity bond and directors' and officers' liability insurance; and cost of independent pricing services used in computing each Fundthe Trust's net asset value. The Administrator is authorized to and may employ or associate with such person or persons as the Administrator may deem desirable to assist it in performing its duties under this Agreement; provided, however, that the compensation of such person or persons shall be paid by the Administrator and that the Administrator shall be as fully responsible to the Funds Trust for the acts and omissions of any such person or persons as it is for its own acts and omissions.

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Administrator shall receive from the Funds Company such compensation for the Administrator's services provided pursuant to this Agreement as may be agreed to from time to time in a written fee schedule approved by the parties and initially set forth in the Fee Schedule to this Agreement. The fees are accrued daily and billed monthly and shall be due and payable upon receipt of the invoice. Upon the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be payable upon the date of termination of this Agreement. In addition, the Funds Company shall reimburse the Administrator for its reasonable out-of-pocket costs incurred in connection with this Agreement. The Funds agree Company agrees promptly to reimburse the Administrator for any equipment and supplies specially ordered by or for the Funds Company through the Administrator and for any other expenses not contemplated by this Agreement that the Administrator may incur on the Funds' Company's behalf at the Funds' Company's request or with the Funds' Company's consent. Each Fund The Company will bear all expenses that are incurred in its operation and not specifically assumed by the Administrator. Expenses to be borne by the FundsCompany, include, but are not limited to: organizational expenses; cost of services of independent accountants and outside legal and tax counsel retained by the Company (including such counsel's review of a Fundthe Company's registration statement, proxy materials, federal and state tax qualification as a regulated investment company and other reports and materials prepared by the Administrator under this Agreement); cost of any services contracted for by the Funds Company directly from parties other than the Administrator; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the FundsCompany; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its operation; costs incidental to any meetings of shareholders including, but not limited to, legal and accounting fees, proxy filing fees and the costs of preparation, printing and mailing of any proxy materials; costs incidental to Board meetings, including fees and expenses of Board members; the salary and expenses of any officer, director\trustee or employee of the FundsCompany; costs incidental to the preparation, printing and distribution of the Funds' Company's registration statements and any amendments thereto and shareholder reports; cost of typesetting and printing of prospectuses; cost of preparation and filing of the Funds' Company's tax returns, Form N-1A or N-2 and Form N-SAR, and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; fidelity bond and directors' and officers' liability insurance; and cost of independent pricing services used in computing each Fundthe Company's net asset value. The Administrator is authorized to and may employ or associate with such person or persons as the Administrator may deem desirable to assist it in performing its duties under this Agreement; provided, however, that the compensation of such person or persons shall be paid by the Administrator and that the Administrator shall be as fully responsible to the Funds Company for the acts and omissions of any such person or persons as it is for its own acts and omissions.

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Administrator shall receive from the Funds Trust such compensation for the Administrator's ’s services provided pursuant to this Agreement as may be agreed to from time to time in a written fee schedule Fee Schedule approved by the parties and initially set forth in the Fee Schedule to this Agreementparties. The fees are accrued daily and billed monthly and shall be due and payable upon receipt of the invoice. Upon the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be payable upon the date of termination of this Agreement. In addition, the Funds Trust shall reimburse the Administrator for its reasonable out-of-pocket costs incurred in connection with this Agreement. All rights of compensation and expense reimbursement under this Agreement for services performed as of the termination date shall survive the termination of this Agreement. The Funds agree Trust agrees promptly to reimburse the Administrator for any equipment and supplies specially ordered by or for the Funds Trust through the Administrator and for any other expenses not contemplated by this Agreement that the Administrator may incur on the Funds' Trust’s behalf at the Funds' Trust’s request or with the Funds' Trust’s consent. Each Fund The Trust will bear all expenses that are incurred in its operation and not specifically assumed by the Administrator. Expenses to be borne by the FundsTrust, include, but are not limited to: organizational expenses; cost of services of independent accountants and outside legal and tax counsel (including such counsel's ’s review of a Fund's registration statementthe Registration Statement, Form N-CSR, Form N-Q, Form N-PX, From N-SAR, proxy materials, federal and state tax qualification as a regulated investment company and other reports notices, registrations, reports, filings and materials prepared by the Administrator under this Agreement); cost of any services contracted for by the Funds Trust directly from parties other than the Administrator; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the FundsTrust; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its operation; costs incidental to any meetings of shareholders including, but not limited to, legal and accounting fees, proxy filing fees and the costs of preparationpreparation (e.g., printing typesetting, page changes and all other print vendor and XXXXX charges, collectively referred to herein as “Preparation”), printing, distribution and mailing of any proxy materials; costs incidental to Board meetings, including fees and expenses of Board members; the salary and expenses of any officer, director\trustee or employee of the FundsTrust; costs incidental to the preparationof Preparation, printing printing, distribution and distribution mailing, as applicable, of the Funds' registration statements Trust’s Registration Statements and any amendments and supplements thereto and shareholder reports; cost of typesetting and printing of prospectuses; cost of preparation Preparation and filing of the Funds' Trust’s tax returns, Form N-1A or N-2 N-1A, Form N-CSR, Form N-Q, Form N-PX and Form N-SAR, and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; the cost of fidelity bond and directors' and officers' D&O/E&O liability insurance; and cost of independent pricing services used in computing each Fund's the Fund(s)’ net asset value. The Administrator is authorized to and may employ employ, associate or associate contract with such person or persons as the Administrator may deem desirable to assist it in performing its duties under this Agreement; provided, however, that the compensation of such person or persons shall be paid by the Administrator and that the Administrator shall be as fully responsible to the Funds Trust for the acts and omissions of any such person or persons as it is for its own acts and omissions.

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Administrator shall receive from the Funds Fund such compensation for the Administrator's services provided pursuant to this Agreement as may be agreed to from time to time in a written fee schedule approved by the parties and initially set forth in the Fee Schedule B to this Agreement. The fees are accrued daily and billed monthly and shall be due and payable upon receipt of the invoice. Upon the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be payable upon the date of termination of this Agreement. In addition, the Funds Fund shall reimburse the Administrator for its out-of-pocket costs incurred in connection with this Agreement. The Funds agree Fund agrees promptly to reimburse the Administrator for any equipment and supplies specially ordered by or for the Funds Fund through the Administrator and for any other expenses not contemplated by this Agreement that the Administrator may incur on the Funds' Fund's behalf at the Funds' Fund's request or with the Funds' Fund's consent. Each The Fund will bear all expenses that are incurred in its operation and not specifically assumed by the Administrator. Expenses to be borne by the FundsFund, include, but are not limited to: organizational expenses; cost of services of independent accountants and outside legal and tax counsel (including such counsel's review of a the Fund's registration statement, proxy materials, federal and state tax qualification as a regulated investment company and other reports and materials prepared by the Administrator under this Agreement); cost of any services contracted for by the Funds Fund directly from parties other than the Administrator; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the FundsFund; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its operation; costs incidental to any meetings of shareholders including, but not limited to, legal and accounting fees, proxy filing fees and the costs of preparation, printing and mailing of any proxy materials; costs incidental to Board meetings, including fees and expenses of Board members; the salary and expenses of any officer, director\trustee or employee of the FundsFund; costs incidental to the preparation, printing and distribution of the Funds' Fund's registration statements and any amendments thereto and shareholder reports; cost of typesetting and printing of prospectuses; cost of preparation and filing of the Funds' Fund's tax returns, Form N-1A or N-2 and Form N-SAR, and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; fidelity bond and directors' and officers' liability insurance; and cost of independent pricing services used in computing each the Fund's net asset value. The Administrator is authorized to and may employ or associate with such person or persons as the Administrator may deem desirable to assist it in performing its duties under this Agreement; provided, however, that the compensation of such person or persons shall be paid by the Administrator and that the Administrator shall be as fully responsible to the Funds Fund for the acts and omissions of any such person or persons as it is for its own acts and omissions.

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Administrator Bank shall receive from the Funds Commerce such compensation for the Administrator's Bank’s services provided pursuant to this Agreement as may be agreed to from time to time in a written fee schedule approved by the parties and initially set forth in the Fee Schedule to this Agreementparties. The Ile fees are accrued daily and billed monthly and shall be due and payable upon receipt of the invoice. Upon the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be due and payable upon the date receipt of termination of this Agreementthe final invoice. In addition, the Funds Commerce shall reimburse the Administrator Bank for its reasonable out-of-pocket costs incurred in connection with this Agreement. The Funds agree Commerce agrees promptly to reimburse the Administrator Bank for any equipment and supplies specially ordered by or for the Funds Trust through the Administrator Bank and for any other expenses not contemplated by this Agreement that the Administrator Bank may incur on the Funds' Trust’s or Commerce’s behalf at the Funds' Trust’s or Commerce’s request or with Commerce’s consent, Commerce acknowledges and agrees that Commerce or the Funds' consent. Each Fund Trust will bear all expenses that are incurred in its the Trust’s operation and not specifically assumed by the AdministratorBank. Expenses to be borne by Commerce or the Funds, Trust include, but are not limited to: organizational expenses; cost of services of independent accountants and outside legal and tax counsel (including such counsel's review of a Fund's registration statement, proxy materials, federal and state tax qualification as a regulated investment company and other reports and materials prepared by the Administrator under this Agreement); cost of any services contracted for by Commerce or the Funds Trust directly from parties other than the AdministratorBank; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the FundsTrust; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its operation; costs incidental to any meetings of shareholders including, but not limited to, legal and accounting fees, proxy filing fees and the costs of preparation, printing and mailing of any proxy materials; costs incidental to Board meetings, including fees and expenses of Board members; the salary and expenses of any officer, director\trustee or employee of the Fundsshareholders; costs incidental to the preparation, typesetting, printing and distribution of the Funds' registration statements and any amendments thereto and Trust’s shareholder reports; cost of typesetting and printing of prospectuses; cost of preparation and filing of the Funds' Trust’s tax returns, Form N-1A or N-2 and Form N-SAR, ; and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; fidelity bond and directors' and officers' liability insurance; and cost of or independent pricing services used in computing each Fund's the Funds’ net asset valuevalues. The Administrator Bank is authorized to and may employ or associate with such person or persons as the Administrator Bank may deem desirable to assist it in performing its duties under this Agreement; provided, however, that the compensation of such person or persons shall be paid by the Administrator Bank and that the Administrator Bank shall be as fully responsible to the Funds Commerce for the acts and omissions of any such person or persons as it is for its own acts and omissions.

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Administrator shall receive from the Funds Trust such compensation for the Administrator's services provided pursuant to this Agreement as may be agreed to from time to time in a written fee schedule approved by the parties and initially set forth in the Fee Schedule to this Agreement. The fees are accrued daily and billed monthly and shall be due and payable upon receipt of the invoice. Upon the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be payable upon the date of termination of this Agreement. In addition, the Funds Trust shall reimburse the Administrator for its out-of-pocket costs incurred in connection with this Agreement. The Funds agree Trust agrees promptly to reimburse the Administrator for any equipment and supplies specially ordered by or for the Funds Trust through the Administrator and for any other expenses not contemplated by this Agreement that the Administrator may incur on the Funds' Trust's behalf at the Funds' Trust's request or with the Funds' Trust's consent. Each Fund The Trust will bear all expenses that are incurred in its operation and not specifically assumed by the Administrator. Expenses to be borne by the FundsTrust, include, but are not limited to: organizational expenses; cost of services of independent accountants and outside legal and tax counsel (including such counsel's review of a Fundthe Trust's registration statement, proxy materials, federal and state tax qualification as a regulated investment company and other reports and materials prepared by the Administrator under this Agreement); cost of any services contracted for by the Funds Trust directly from parties other than the Administrator; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the FundsTrust; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its operation; costs incidental to any meetings of shareholders including, but not limited to, legal and accounting fees, proxy filing fees and the costs of preparation, printing and mailing of any proxy materials; costs incidental to Board meetings, including fees and expenses of Board members; the salary and expenses of any officer, director\trustee or employee of the FundsTrust; costs incidental to the preparation, printing and distribution of the Funds' Trust's shareholder reports and registration statements and any amendments thereto thereto, including costs of preparation and shareholder reportsfiling under XXXXX; cost of typesetting and printing of prospectuses; cost of preparation and filing of the Funds' Trust's tax returns, Form N-1A or N-2 and Form N-SAR, and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; fidelity bond and directors' and officers' liability insurance; and cost of independent pricing services used in computing each Fundthe Trust's net asset value. The Administrator is authorized to and may employ or associate with such person or persons as the Administrator may deem desirable to assist it in performing its duties under this Agreement; provided, however, that the compensation of such person or persons shall be paid by the Administrator and that the Administrator shall be as fully responsible to the Funds Trust for the acts and omissions of any such person or persons as it is for its own acts and omissions.

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Administrator shall receive from the Funds Fund such compensation for the Administrator's services provided pursuant to this Agreement as may be agreed to from time to time in a written fee schedule approved by the parties and initially set forth in the Fee Schedule B to this Agreement. The fees are accrued daily and billed monthly and shall be due and payable upon receipt of the invoice. Upon the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be payable upon the date of termination of this Agreement. In addition, the Funds Fund shall reimburse the Administrator for its necessary and reasonable out-of-pocket costs incurred in connection with this Agreement. The Funds agree Administrator shall not incur out-of-pocket expenses chargeable to an Investment Fund in excess of ten percent of such Investment Fund's annual fees charged hereunder in any Fund fiscal year without the prior written consent of the Fund. The Fund agrees promptly to reimburse the Administrator for any equipment and supplies specially ordered by or for the Funds Fund through the Administrator and for any other expenses not contemplated by this Agreement that the Administrator may incur on the Funds' Fund's behalf at the Funds' Fund's request or with the Funds' Fund's written consent. Each The Fund will bear all expenses that are incurred in its operation and not specifically assumed by the AdministratorAdministrator as provided elsewhere in this Agreement, particularly Section 5. Expenses to be borne by the FundsFund, include, but are not limited to: organizational expenses; cost of services of independent accountants and outside legal and tax counsel (including such counsel's review of a the Fund's registration statement, proxy materials, federal and state tax qualification as a regulated investment company and other reports and materials prepared by the Administrator under this Agreement); cost of any services contracted for by the Funds Fund directly from parties other than the Administrator; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the FundsFund; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its operation; costs incidental to any meetings of shareholders including, but not limited to, legal and accounting fees, proxy filing fees and the costs of preparationpreparation (except as provided elsewhere herein), printing and mailing of any proxy materials; costs incidental to Board meetings, including fees and expenses of Board members; the salary and expenses of any officer, director\trustee director or employee of the FundsFund; costs incidental to the preparationpreparation (except as provided elsewhere herein), printing and distribution of the Funds' Fund's registration statements and any amendments thereto and shareholder reportsreports (excluding any portion of these costs that may be deemed to be properly chargeable to sales or promotional activities and therefore borne by an entity other than the Fund or the Administrator); cost of typesetting and printing of prospectuses); cost of preparation (except as provided elsewhere herein) and filing of the Funds' Fund's tax returns, Form N-1A or N-2 and Form N-SAR, and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; fidelity bond and directors' and officers' liability insurance; and cost of independent pricing services used in computing each the Fund's net asset value. The Administrator is authorized to and may employ or associate with such person or persons as the Administrator may deem desirable to assist it in performing its duties under this Agreement; provided, ,however, that the compensation of such person or persons shall be paid by the Administrator and that the Administrator shall be as fully responsible to the Funds Fund for the acts and omissions of any such person or persons as it is for its own acts and omissions.

FEES; EXPENSES; EXPENSE REIMBURSEMENT. The Administrator shall receive from the Funds Company such compensation for the Administrator's services provided pursuant to this Agreement as may be agreed to from time to time in a written fee schedule approved by the parties and initially set forth in the Fee Schedule to this Agreement. The fees are accrued daily and billed monthly and shall be due and payable upon receipt of the invoice. Upon the termination of this Agreement before the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be payable upon the date of termination of this Agreement. In addition, the Funds Company shall reimburse the Administrator for its reasonable out-of-pocket costs incurred in connection with this Agreement. The Funds agree Company agrees promptly to reimburse the Administrator for any equipment and supplies specially ordered by or for the Funds Company through the Administrator and for any other expenses not contemplated by this Agreement that the Administrator may incur on the Funds' Company's behalf at the Funds' Company's request or with the Funds' Company's consent. Each Fund The Company will bear all expenses that are incurred in its operation and not specifically assumed by the Administrator. Expenses to be borne by the FundsCompany, include, but are not limited to: organizational expenses; cost of services of independent accountants and outside legal and tax counsel (including such counsel's review of a Fundthe Company's registration statement, proxy materials, federal and state tax qualification as a regulated investment company and other reports and materials prepared by the Administrator under this Agreement); cost of any services contracted for by the Funds Company directly from parties other than the Administrator; cost of trading operations and brokerage fees, commissions and transfer taxes in connection with the purchase and sale of securities for the FundsCompany; investment advisory fees; taxes, insurance premiums and other fees and expenses applicable to its operation; costs incidental to any meetings of shareholders including, but not limited to, legal and accounting fees, proxy filing fees and the costs of preparation, printing and mailing of any proxy materials; costs incidental to Board meetings, including fees and expenses of Board members; the salary and expenses of any officer, director\trustee director or employee of the FundsCompany; costs incidental to the preparation, printing and distribution of the Funds' Company's registration statements and any amendments thereto and shareholder reports; cost of typesetting and printing of prospectuses; cost of preparation and filing of the Funds' Company's tax returns, Form N-1A or N-2 and Form N-SAR, and all notices, registrations and amendments associated with applicable federal and state tax and securities laws; all applicable registration fees and filing fees required under federal and state securities laws; fidelity bond and directors' and officers' liability insurance; and cost of independent pricing services used in computing each Fundthe Company's net asset value. The Administrator is authorized to and may employ or associate with such person or persons as the Administrator may deem desirable to assist it in performing its duties under this Agreement; provided, however, that the compensation of such person or persons shall be paid by the Administrator and that the Administrator shall be as fully responsible to the Funds Company for the acts and omissions of any such person or persons as it is for its own acts and omissions.