Common use of PORTFOLIO PERFORMANCE Clause in Contracts

PORTFOLIO PERFORMANCE. The investment performance of the Chartwell Portfolio for any period, expressed as a percentage of the "Chartwell Portfolio unit value" per share at the beginning of the period, will be the sum of: (i) the change in the Chartwell Portfolio's net asset value per share during the period; (ii) the unit value of the Fund's cash distributions from Chartwell Portfolio's net investment income and realized net capital gains (whether short or long term) having an ex-dividend date occurring within the period; (iii) the unit value of capital gains taxes paid or accrued during such period by the Fund for undistributed realized long-term capital gains realized by the Chartwell Portfolio. For this purpose, the unit value of distributions per share of realized capital gains, of dividends per share paid from investment income and of capital gains taxes per share paid or payable on undistributed realized long- term capital gains shall be treated as reinvested in the Chartwell Portfolio at the unit value in effect at the close of business on the record date for the payment of such distributions and dividends and the date on which provision is made for such taxes, after giving effect to such distributions, dividends and taxes.

PORTFOLIO PERFORMANCE. The investment performance of the Chartwell WMC Portfolio for any period, expressed as a percentage of the "Chartwell WMC Portfolio unit value" per share at the beginning of the period, will be the sum of: (i) the change in the Chartwell WMC Portfolio's net asset value per share during the period; (ii) the unit value of the Fund's cash distributions from Chartwell WMC Portfolio's net investment income and realized net capital gains (whether short or long term) having an ex-dividend date occurring within the period; (iii) the unit value of capital gains taxes paid or accrued during such period by the Fund for undistributed realized long-term capital gains realized by the Chartwell WMC Portfolio. For this purpose, the unit value of distributions per share of realized capital gains, of dividends per share paid from investment income and of capital gains taxes per share paid or payable on undistributed realized long- long-term capital gains shall be treated as reinvested in the Chartwell WMC Portfolio at the unit value in effect at the close of business on the record date for the payment of such distributions and dividends and the date on which provision is made for such taxes, after giving effect to such distributions, dividends and taxes.

PORTFOLIO PERFORMANCE. The investment performance of the Chartwell Portfolio for any period, expressed as a percentage of the "Chartwell Portfolio unit value" per share at the beginning of the period, will be the sum of: (i) the change in the Chartwell Portfolio's net asset value per share during the period; (ii) the unit value of the Fund's cash distributions from Chartwell Portfolio's net investment income and realized net capital gains (whether short or long term) having an ex-dividend date occurring within the period; (iii) the unit value of capital gains taxes paid or accrued during such period by the Fund for undistributed realized long-term capital gains realized by the Chartwell Portfolio. For this purpose, the unit value of distributions per share of realized capital gains, of dividends per share paid from investment income and of capital gains taxes per share paid or payable on undistributed realized long- long-term capital gains shall be treated as reinvested in the Chartwell Portfolio at the unit value in effect at the close of business on the record date for the payment of such distributions and dividends and the date on which provision is made for such taxes, after giving effect to such distributions, dividends and taxes.

PORTFOLIO PERFORMANCE. The investment performance of the Chartwell WMC Portfolio for any period, expressed as a percentage of the "Chartwell WMC Portfolio unit value" per share at the beginning of the period, will be the sum of: (i) the change in the Chartwell WMC Portfolio's net asset value per per-share during the period; (ii) the unit value of the Fund's cash distributions from Chartwell WMC Portfolio's net investment income and realized net capital gains (whether short or long term) having an ex-dividend date occurring within the period; (iii) the unit value of capital gains taxes paid or accrued during such period by the Fund for undistributed realized long-term capital gains realized by the Chartwell WMC Portfolio. For this purpose, the unit value of distributions per share of realized capital gains, of dividends per share paid from investment income and of capital gains taxes per share paid or payable on undistributed realized long- long-term capital gains shall be treated as reinvested in the Chartwell WMC Portfolio at the unit value in effect at the close of business on the record date for the payment of such distributions and dividends and the date on which provision is made for such taxes, after giving effect to such distributions, dividends and taxes.