Common use of Select Fund Clause in Contracts

Select Fund. The Adviser agrees to limit the Total Annual Fund Operating Expenses (as defined in Item 3 of Form N-1A) of the Select Fund (excluding shareholder servicing fees, brokerage expenses, interest expenses, acquired fund fees and expenses, taxes, and extraordinary expenses) to an annual rate of 0.55% of the Select Fund’s average daily net assets for the Institutional Class through January 31, 2018. The Adviser will reduce the fee payable with respect to the Select Fund to the extent of such excess and/or shall reimburse the Select Fund (or class as applicable) by the amount of such excess. If applicable, the waiver or reimbursement shall be allocated to each class of the Select Fund in the same manner as the underlying expenses or fees were allocated.

Select Fund. The Adviser agrees to limit the Total Annual Fund Operating Expenses (as defined in Item 3 of Form N-1A) of the Select Fund (excluding shareholder servicing fees, brokerage expenses, interest expenses, acquired fund fees and expenses, taxes, taxes and extraordinary expenses) to an annual rate of 0.55% of the Select Fund’s average daily net assets for the Institutional Class through January 31, 2018. The Adviser will reduce the fee payable with respect to the Select Fund to the extent of such excess and/or shall reimburse the Select Fund (or class as applicable) by the amount of such excess. If applicable, the waiver or reimbursement shall be allocated to each class of the Select Fund in the same manner as the underlying expenses or fees were allocated.

Select Fund. The Adviser agrees to limit the Total Annual Fund Operating Expenses (as defined in Item 3 of Form N-1A) of the Select Fund (excluding shareholder servicing fees, brokerage expenses, interest expenses, acquired fund fees and expenses, taxes, taxes and extraordinary expenses) to an annual rate of 0.55% of the Select Fund’s average daily net assets for the Institutional Class as of February 1, 2019 and shall continue at least through January 31, 20182020. The Adviser will reduce the fee payable with respect to the Select Fund to the extent of such excess and/or shall reimburse the Select Fund (or class as applicable) by the amount of such excess. If applicable, the waiver or reimbursement shall be allocated to each class of the Select Fund in the same manner as the underlying expenses or fees were allocated.

Select Fund. The Adviser agrees to limit the Total Annual Fund Operating Expenses (as defined in Item 3 of Form N-1A) of the Select Fund (excluding shareholder servicing fees, brokerage expenses, interest expenses, acquired fund fees and expenses, taxes, taxes and extraordinary expenses) to an annual rate of 0.55% of the Select Fund’s average daily net assets for the Institutional Class through January 31, 20182019. The Adviser will reduce the fee payable with respect to the Select Fund to the extent of such excess and/or shall reimburse the Select Fund (or class as applicable) by the amount of such excess. If applicable, the waiver or reimbursement shall be allocated to each class of the Select Fund in the same manner as the underlying expenses or fees were allocated.