Common use of Investment Management Fee Clause in Contracts

Investment Management Fee. For services provided under subparagraph (b) of paragraph 1 of this Agreement, the Massachusetts Sub-Advisor agrees to pay the Sub-Subadvisor a monthly Investment Management Fee. The Investment Management Fee shall be equal to: (i) 0.90% multiplied by: (ii) the fraction equal to the net assets of the Portfolio as to which the Sub-Subadvisor shall have provided investment management services divided by the net assets of the Portfolio for that month; provided, however, that the Investment Management Fee paid to the Sub-Subadvisor for any period hereunder shall in all circumstances be an amount not less than 110% of the Sub-Subadvisor 's costs incurred in connection with rendering the services referred to in subparagraph (b) of paragraph 1 of this Agreement (but in no event will the Investment Management Fee paid to the Sub-Subadvisor exceed the sub-advisory fee paid to the Massachusetts Sub-Advisor pursuant to its sub-advisory agreement with respect to the Portfolio) (the minimum fee described in this proviso being referred to herein as the "Minimum Investment Management Fee"). If in any fiscal year the aggregate expenses of the Portfolio exceed any applicable expense limitation imposed by any state or federal securities laws or regulations, and the Massachusetts Sub-Advisor waives all or a portion of its management fee or reimburses the Portfolio for expenses to the extent required to satisfy such limitation, the Investment Management Fee paid to the Sub-Subadvisor will be reduced by 50% of the amount of such waivers or reimbursements multiplied by the fraction determined in (ii), subject to the Minimum Investment Management Fee. If the Sub-Subadvisor reduces its fees to reflect such waivers or reimbursements and the Massachusetts Sub-Advisor subsequently recovers all or any portion of such waivers or reimbursements, then the Sub-Subadvisor shall be entitled to receive from the Massachusetts Sub-Advisor a proportionate share of the amount recovered.

Investment Management Fee. For services provided under subparagraph (b) of paragraph 1 of this Agreement, the Massachusetts Sub-Advisor agrees to pay the Sub-Subadvisor a monthly Investment Management Fee. The Investment Management Fee shall be equal to: (i) 0.900.32% multiplied by: (ii) the fraction equal to the net assets of the Portfolio as to which the Sub-Sub- Subadvisor shall have provided investment management services divided by the net assets of the Portfolio for that month; provided, however, that the Investment Management Fee paid to the Sub-Subadvisor for any period hereunder shall in all circumstances be an amount not less than 110% of the Sub-Subadvisor 's costs incurred in connection with rendering the services referred to in subparagraph (b) of paragraph 1 of this Agreement (but in no event will the Investment Management Fee paid to the Sub-Subadvisor exceed the sub-advisory fee paid to the Massachusetts Sub-Advisor pursuant to its sub-advisory agreement with respect to the Portfolio) (the minimum fee described in this proviso being referred to herein as the "Minimum Investment Management Fee"). If in any fiscal year the aggregate expenses of the Portfolio exceed any applicable expense limitation imposed by any state or federal securities laws or regulations, and the Massachusetts Sub-Advisor waives all or a portion of its management fee or reimburses the Portfolio for expenses to the extent required to satisfy such limitation, the Investment Management Fee paid to the Sub-Subadvisor will be reduced by 50% of the amount of such waivers or reimbursements multiplied by the fraction determined in (ii), subject to the Minimum Investment Management Fee. If the Sub-Subadvisor reduces its fees to reflect such waivers or reimbursements and the Massachusetts Sub-Advisor subsequently recovers all or any portion of such waivers or reimbursements, then the Sub-Subadvisor shall be entitled to receive from the Massachusetts Sub-Advisor a proportionate share of the amount recovered.

Investment Management Fee. For services provided under subparagraph (b) of paragraph 1 of this Agreement, the Massachusetts Sub-Advisor agrees to pay the Sub-Subadvisor a monthly Investment Management Fee. The Investment Management Fee shall be equal to: (i) 0.900.32% multiplied by: (ii) the fraction equal to the net assets of the Portfolio as to which the Sub-Subadvisor shall have provided investment management services divided by the net assets of the Portfolio for that month; provided, however, that the Investment Management Fee paid to the Sub-Subadvisor for any period hereunder shall in all circumstances be an amount not less than 110% of the Sub-Subadvisor 's costs incurred in connection with rendering the services referred to in subparagraph (b) of paragraph 1 of this Agreement (but in no event will the Investment Management Fee paid to the Sub-Subadvisor exceed the sub-advisory fee paid to the Massachusetts Sub-Advisor pursuant to its sub-advisory agreement with respect to the Portfolio) (the minimum fee described in this proviso being referred to herein as the "Minimum Investment Management Fee"). If in any fiscal year the aggregate expenses of the Portfolio exceed any applicable expense limitation imposed by any state or federal securities laws or regulations, and the Massachusetts Sub-Advisor waives all or a portion of its management fee or reimburses the Portfolio for expenses to the extent required to satisfy such limitation, the Investment Management Fee paid to the Sub-Subadvisor will be reduced by 50% of the amount of such waivers or reimbursements multiplied by the fraction determined in (ii), subject to the Minimum Investment Management Fee. If the Sub-Subadvisor reduces its fees to reflect such waivers or reimbursements and the Massachusetts Sub-Advisor subsequently recovers all or any portion of such waivers or reimbursements, then the Sub-Subadvisor shall be entitled to receive from the Massachusetts Sub-Advisor a proportionate share of the amount recovered.

Investment Management Fee. For services provided under subparagraph (ba) of paragraph 1 of this Agreement, the Massachusetts Sub-Advisor agrees to pay the Sub-Subadvisor a monthly Investment Management Fee. The Investment Management Fee shall be equal to: (i) 0.90[_]% of the monthly management fee rate (including performance adjustments, if any) that the Portfolio is obligated to pay the Sub-Advisor under its Sub-Advisory Agreement with the Sub-Advisor, multiplied by: (ii) the fraction equal to the net assets of the Portfolio as to which the Sub-Subadvisor shall have provided investment management services divided by the net assets of the Portfolio for that month; provided, however, that the Investment Management Fee paid to the Sub-Subadvisor for any period hereunder shall in all circumstances be an amount not less than 110[_]% of the Sub-Subadvisor 's Subadvisor’s costs incurred in connection with rendering the services referred to in subparagraph (ba) of paragraph 1 of this Agreement (but in no event will the Investment Management Fee paid to the Sub-Subadvisor exceed the sub-advisory management fee paid to the Massachusetts Sub-Advisor pursuant to its sub-advisory agreement management contract with respect to the Portfolio) (the minimum fee described in this proviso being referred to herein as the "“Minimum Investment Management Fee"”). If in any fiscal year the aggregate expenses of the Portfolio exceed any applicable expense limitation imposed by any state or federal securities laws or regulations, and the Massachusetts Sub-Advisor waives all or a portion of its management fee or reimburses the Portfolio for expenses to the extent required to satisfy such limitation, the Investment Management Fee paid to the Sub-Subadvisor will be reduced by 50[_]% of the amount of such waivers or reimbursements multiplied by the fraction determined in (ii), subject to the Minimum Investment Management Fee. If the Sub-Subadvisor reduces its fees to reflect such waivers or reimbursements and the Massachusetts Sub-Advisor subsequently recovers all or any portion of such waivers or reimbursements, then the Sub-Subadvisor shall be entitled to receive from the Massachusetts Sub-Advisor a proportionate share of the amount recovered.

Investment Management Fee. For services provided under subparagraph (b) of paragraph 1 of this Agreement, the Massachusetts Sub-Advisor agrees to pay the Sub-Subadvisor a monthly Investment Management Fee. The Investment Management Fee shall be equal to: (i) 0.90% [___]%of the monthly management fee rate (including performance adjustments, if any) that the Portfolio is obligated to pay the Sub-Advisor under its Sub-Advisory Agreement with the Sub-Advisor, multiplied by: (ii) the fraction equal to the net assets of the Portfolio as to which the Sub-Subadvisor shall have provided investment management services divided by the net assets of the Portfolio for that month; provided, however, that the Investment Management Fee paid to the Sub-Subadvisor for any period hereunder shall in all circumstances be an amount not less than 110% [___]%of the Sub-Subadvisor 's Subadvisor’s costs incurred in connection with rendering the services referred to in subparagraph (b) of paragraph 1 of this Agreement (but in no event will the Investment Management Fee paid to the Sub-Subadvisor exceed the sub-advisory management fee paid to the Massachusetts Sub-Advisor pursuant to its sub-advisory agreement management contract with respect to the Portfolio) (the minimum fee described in this proviso being referred to herein as the "“Minimum Investment Management Fee"”). If in any fiscal year the aggregate expenses of the Portfolio exceed any applicable expense limitation imposed by any state or federal securities laws or regulations, and the Massachusetts Sub-Advisor waives all or a portion of its management fee or reimburses the Portfolio for expenses to the extent required to satisfy such limitation, the Investment Management Fee paid to the Sub-Subadvisor will be reduced by 50% [___]%of the amount of such waivers or reimbursements multiplied by the fraction determined in (ii), subject to the Minimum Investment Management Fee. If the Sub-Subadvisor reduces its fees to reflect such waivers or reimbursements and the Massachusetts Sub-Advisor subsequently recovers all or any portion of such waivers or reimbursements, then the Sub-Subadvisor shall be entitled to receive from the Massachusetts Sub-Advisor a proportionate share of the amount recovered.

Investment Management Fee. For services provided under subparagraph (b) of paragraph 1 of this Agreement, the Massachusetts Sub-Advisor agrees to pay the Sub-Subadvisor Advisor a monthly Investment Management Fee. The Investment Management Fee shall be equal to: (i) 0.9050% of the monthly management fee rate (including performance adjustments, if any) that the Portfolio is obligated to pay the Advisor under its Management Contract with the Advisor, multiplied by: (ii) the fraction equal to the net assets of the Portfolio as to which the Sub-Subadvisor Advisor shall have provided investment management services divided by the net assets of the Portfolio for that month; provided, however, that the Investment Management Fee paid to the Sub-Subadvisor Advisor for any period hereunder shall in all circumstances be an amount not less than 110% of the Sub-Subadvisor 's Advisor’s costs incurred in connection with rendering the services referred to in subparagraph (b) of paragraph 1 of this Agreement (but in no event will the Investment Management Fee paid to the Sub-Subadvisor –Advisor exceed the sub-advisory management fee paid to the Massachusetts Sub-Advisor pursuant to its sub-advisory agreement management contract with respect to the Portfolio) (the minimum fee described in this proviso being referred to herein as the "“Minimum Investment Management Fee"”). If in any fiscal year the aggregate expenses of the Portfolio exceed any applicable expense limitation imposed by any state or federal securities laws or regulations, and the Massachusetts Sub-Advisor waives all or a portion of its management fee or reimburses the Portfolio for expenses to the extent required to satisfy such limitation, the Investment Management Fee paid to the Sub-Subadvisor –Advisor will be reduced by 50% of the amount of such waivers or reimbursements multiplied by the fraction determined in (ii), subject to the Minimum Investment Management Fee. If the Sub-Subadvisor Advisor reduces its fees to reflect such waivers or reimbursements and the Massachusetts Sub-Advisor subsequently recovers all or any portion of such waivers or reimbursements, then the Sub-Subadvisor Advisor shall be entitled to receive from the Massachusetts Sub-Advisor a proportionate share of the amount recovered.

Investment Management Fee. For services provided under subparagraph (ba) of paragraph 1 of this Agreement, the Massachusetts Sub-Advisor agrees to pay the Sub-Subadvisor a monthly Investment Management Fee. The Investment Management Fee shall be equal to: (i) 0.90[___]% of the monthly management fee rate (including performance adjustments, if any) that the Portfolio is obligated to pay the Sub-Advisor under its Sub-Advisory Agreement with the Sub-Advisor, multiplied by: (ii) the fraction equal to the net assets of the Portfolio as to which the Sub-Subadvisor shall have provided investment management services divided by the net assets of the Portfolio for that month; provided, however, that the Investment Management Fee paid to the Sub-Subadvisor for any period hereunder shall in all circumstances be an amount not less than 110[___]% of the Sub-Subadvisor 's Subadvisor’s costs incurred in connection with rendering the services referred to in subparagraph (ba) of paragraph 1 of this Agreement (but in no event will the Investment Management Fee paid to the Sub-Subadvisor exceed the sub-advisory management fee paid to the Massachusetts Sub-Advisor pursuant to its sub-advisory agreement management contract with respect to the Portfolio) (the minimum fee described in this proviso being referred to herein as the "“Minimum Investment Management Fee"”). If in any fiscal year the aggregate expenses of the Portfolio exceed any applicable expense limitation imposed by any state or federal securities laws or regulations, and the Massachusetts Sub-Advisor waives all or a portion of its management fee or reimburses the Portfolio for expenses to the extent required to satisfy such limitation, the Investment Management Fee paid to the Sub-Subadvisor will be reduced by 50[___]% of the amount of such waivers or reimbursements multiplied by the fraction determined in (ii), subject to the Minimum Investment Management Fee. If the Sub-Subadvisor reduces its fees to reflect such waivers or reimbursements and the Massachusetts Sub-Advisor subsequently recovers all or any portion of such waivers or reimbursements, then the Sub-Subadvisor shall be entitled to receive from the Massachusetts Sub-Advisor a proportionate share of the amount recovered.

Investment Management Fee. For services provided under subparagraph (b) of paragraph 1 of this Agreement, the Massachusetts Sub-Advisor agrees to pay the Sub-Subadvisor a monthly Investment Management Fee. The Investment Management Fee shall be equal to: (i) 0.90[___]% of the monthly management fee rate (including performance adjustments, if any) that the Portfolio is obligated to pay the Sub-Advisor under its Sub-Advisory Agreement with the Sub-Advisor, multiplied by: (ii) the fraction equal to the net assets of the Portfolio as to which the Sub-Subadvisor shall have provided investment management services divided by the net assets of the Portfolio for that month; provided, however, that the Investment Management Fee paid to the Sub-Subadvisor for any period hereunder shall in all circumstances be an amount not less than 110[___]% of the Sub-Subadvisor 's Subadvisor’s costs incurred in connection with rendering the services referred to in subparagraph (b) of paragraph 1 of this Agreement (but in no event will the Investment Management Fee paid to the Sub-Subadvisor exceed the sub-advisory management fee paid to the Massachusetts Sub-Advisor pursuant to its sub-advisory agreement management contract with respect to the Portfolio) (the minimum fee described in this proviso being referred to herein as the "“Minimum Investment Management Fee"”). If in any fiscal year the aggregate expenses of the Portfolio exceed any applicable expense limitation imposed by any state or federal securities laws or regulations, and the Massachusetts Sub-Advisor waives all or a portion of its management fee or reimburses the Portfolio for expenses to the extent required to satisfy such limitation, the Investment Management Fee paid to the Sub-Subadvisor will be reduced by 50[___]% of the amount of such waivers or reimbursements multiplied by the fraction determined in (ii), subject to the Minimum Investment Management Fee. If the Sub-Subadvisor reduces its fees to reflect such waivers or reimbursements and the Massachusetts Sub-Advisor subsequently recovers all or any portion of such waivers or reimbursements, then the Sub-Subadvisor shall be entitled to receive from the Massachusetts Sub-Advisor a proportionate share of the amount recovered.

Investment Management Fee. For services provided under subparagraph (b) of paragraph 1 of this Agreement, the Massachusetts Sub-Advisor agrees to pay the Sub-Subadvisor Advisor a monthly Investment Management Fee. The Investment Management Fee shall be equal to: (i) 0.9050% of the monthly management fee rate (including performance adjustments, if any) that the Portfolio is obligated to pay the Advisor under its Management Contract with the Advisor, multiplied by: (ii) the fraction equal to the net assets of the Portfolio as to which the Sub-Subadvisor Advisor shall have provided investment management services divided by the net assets of the Portfolio for that month; provided, however, that the Investment Management Fee paid to the Sub-Subadvisor Sub−Advisor for any period hereunder shall in all circumstances be an amount not less than 110% of the Sub-Subadvisor 's Sub−Advisor’s costs incurred in connection with rendering the services referred to in subparagraph (b) of paragraph 1 of this Agreement (but in no event will the Investment Management Fee paid to the Sub-Subadvisor Sub−Advisor exceed the sub-advisory management fee paid to the Massachusetts Sub-Advisor pursuant to its sub-advisory agreement management contract with respect to the Portfolio) (the minimum fee described in this proviso being referred to herein as the "“Minimum Investment Management Fee"”). If in any fiscal year the aggregate expenses of the Portfolio exceed any applicable expense limitation imposed by any state or federal securities laws or regulations, and the Massachusetts Sub-Advisor waives all or a portion of its management fee or reimburses the Portfolio for expenses to the extent required to satisfy such limitation, the Investment Management Fee paid to the Sub-Subadvisor Advisor will be reduced by 50% of the amount of such waivers or reimbursements multiplied by the fraction determined in (ii), subject to the Minimum Investment Management Fee. If the Sub-Subadvisor Advisor reduces its fees to reflect such waivers or reimbursements and the Massachusetts Sub-Advisor subsequently recovers all or any portion of such waivers or reimbursements, then the Sub-Subadvisor Advisor shall be entitled to receive from the Massachusetts Sub-Advisor a proportionate share of the amount recovered.

Investment Management Fee. For services provided under subparagraph (b) of paragraph 1 of this Agreement, the Massachusetts Sub-Advisor agrees to pay the Sub-Subadvisor a monthly Investment Management Fee. The Investment Management Fee shall be equal to: (i) 0.90% [___]%of the monthly management fee rate (including performance adjustments, if any) that the Portfolio is obligated to pay the Sub-Advisor under its Sub-Advisory Agreement with the Sub-Advisor, multiplied by: (ii) the fraction equal to the net assets of the Portfolio as to which the Sub-Subadvisor shall have provided investment management services divided by the net assets of the Portfolio for that month; provided, however, that the Investment Management Fee paid to the Sub-Subadvisor for any period hereunder shall in all circumstances be an amount not less than 110[___]% of the Sub-Subadvisor 's Subadvisor’s costs incurred in connection with rendering the services referred to in subparagraph (b) of paragraph 1 of this Agreement (but in no event will the Investment Management Fee paid to the Sub-Subadvisor exceed the sub-advisory management fee paid to the Massachusetts Sub-Advisor pursuant to its sub-advisory agreement management contract with respect to the Portfolio) (the minimum fee described in this proviso being referred to herein as the "“Minimum Investment Management Fee"”). If in any fiscal year the aggregate expenses of the Portfolio exceed any applicable expense limitation imposed by any state or federal securities laws or regulations, and the Massachusetts Sub-Advisor waives all or a portion of its management fee or reimburses the Portfolio for expenses to the extent required to satisfy such limitation, the Investment Management Fee paid to the Sub-Subadvisor will be reduced by 50[___]% of the amount of such waivers or reimbursements multiplied by the fraction determined in (ii), subject to the Minimum Investment Management Fee. If the Sub-Subadvisor reduces its fees to reflect such waivers or reimbursements and the Massachusetts Sub-Advisor subsequently recovers all or any portion of such waivers or reimbursements, then the Sub-Subadvisor shall be entitled to receive from the Massachusetts Sub-Advisor a proportionate share of the amount recovered.

Investment Management Fee. For services provided under subparagraph (b) of paragraph 1 of this Agreement, the Massachusetts Sub-Advisor agrees to pay the Sub-Subadvisor Advisor a monthly Investment Management Fee. The Investment Management Fee shall be equal to: (i) 0.9050% of the monthly management fee rate (including performance adjustments, if any) that the Portfolio is obligated to pay the Advisor under its Management Contract with the Advisor, multiplied by: (ii) the fraction equal to the net assets of the Portfolio as to which the Sub-Subadvisor Advisor shall have provided investment management services divided by the net assets of the Portfolio for that month; provided, however, that the Investment Management Fee paid to the Sub-Subadvisor Advisor for any period hereunder shall in all circumstances be an amount not less than 110% of the Sub-Subadvisor Advisor's costs incurred in connection with rendering the services referred to in subparagraph (b) of paragraph 1 of this Agreement (but in no event will the Investment investment Management Fee paid to the Sub-Subadvisor Advisor exceed the sub-advisory management fee paid to the Massachusetts Sub-Advisor pursuant to its sub-advisory agreement management contract with respect to the Portfolio) (the minimum fee described in this proviso being referred to herein as the "Minimum Investment Management Fee"). If in any fiscal year the aggregate expenses of the Portfolio exceed any applicable expense limitation imposed by any state or federal securities laws or regulations, and the Massachusetts Sub-Advisor waives all or a portion of its management fee or reimburses the Portfolio for expenses to the extent required to satisfy such limitation, the Investment Management Fee paid to the Sub-Subadvisor Advisor will be reduced by 50% of the amount of such waivers or reimbursements multiplied by the fraction determined in (ii), subject to the Minimum Investment Management Fee. If the Sub-Subadvisor Advisor reduces its fees to reflect such waivers or reimbursements and the Massachusetts Sub-Advisor subsequently recovers all or any portion of such waivers or reimbursements, then the Sub-Subadvisor Advisor shall be entitled to receive from the Massachusetts Sub-Advisor a proportionate share of the amount recovered.

Investment Management Fee. For services provided under subparagraph (b) of paragraph 1 of this Agreement, the Massachusetts Sub-Advisor agrees to pay the Sub-Subadvisor –Advisor a monthly Investment Management Fee. The Investment Management Fee shall be equal to: (i) 0.9050% of the monthly management fee rate (including performance adjustments, if any) that the Portfolio is obligated to pay the Advisor under its Management Contract with the Advisor, multiplied by: (ii) the fraction equal to the net assets of the Portfolio as to which the Sub-Subadvisor –Advisor shall have provided investment management services divided by the net assets of the Portfolio for that month; provided, however, that the Investment Management Fee paid to the Sub-Subadvisor –Advisor for any period hereunder shall in all circumstances be an amount not less than 110% of the Sub-Subadvisor 's –Advisor’s costs incurred in connection with rendering the services referred to in subparagraph (b) of paragraph 1 of this Agreement (but in no event will the Investment Management Fee paid to the Sub-Subadvisor –Advisor exceed the sub-advisory management fee paid to the Massachusetts Sub-Advisor pursuant to its sub-advisory agreement management contract with respect to the Portfolio) (the minimum fee described in this proviso being referred to herein as the "“Minimum Investment Management Fee"”). If in any fiscal year the aggregate expenses of the Portfolio exceed any applicable expense limitation imposed by any state or federal securities laws or regulations, and the Massachusetts Sub-Advisor waives all or a portion of its management fee or reimburses the Portfolio for expenses to the extent required to satisfy such limitation, the Investment Management Fee paid to the Sub-Subadvisor –Advisor will be reduced by 50% of the amount of such waivers or reimbursements multiplied by the fraction determined in (ii), subject to the Minimum Investment Management Fee. If the Sub-Subadvisor –Advisor reduces its fees to reflect such waivers or reimbursements and the Massachusetts Sub-Advisor subsequently recovers all or any portion of such waivers or reimbursements, then the Sub-Subadvisor –Advisor shall be entitled to receive from the Massachusetts Sub-Advisor a proportionate share of the amount recovered.