Common use of Advisory Fees Clause in Contracts

Advisory Fees. Client will pay Advisor a fee for its investment advisory services. The fee will be a percentage of the market value of all assets in the Account on the last trading day of each calendar quarter. The payment method and fee schedule is set forth in Schedule “A”. The Advisory Fee is payable quarterly in arrears. In any partial calendar quarter, the advisory fee will be pro rated based on the number of days that the Account was open during the quarter. Client understands that Account assets invested in shares of mutual funds or other investment companies (“funds”) will be included in calculating the value of the Account for purposes of computing Advisor’s fees and the same assets will also be subject to additional advisory and other fees and expenses, as set forth in the prospectuses of those funds, paid by the funds but ultimately borne by the investor. Client also understands certain Funds may impose a contingent deferred sales charge on withdrawals taken from their accounts. Advisor reserves the right to negotiate Advisory Fees. Client may elect to pay Advisor for its services by authorizing the Custodian to deduct from Client’s Account and pay to Advisor the Advisory Fee for each calendar year quarter. Advisor will send to the Custodian a quarterly statement showing the amount of the management fee due, the Account value on which the fee is based and how the fee was calculated. The Custodian will send Client a monthly or at least quarterly statement showing all amounts paid from the Account, including all management fees paid by Custodian to Advisor. If elected pursuant to Schedule “A”, Client authorizes the Clearing Firm or Custodian to charge the account for the management fees as instructed by a principal of our Broker-Dealer. Client is solely responsible for verifying the accuracy of the fee computations and acknowledges that the Custodian will not determine whether the fee is properly calculated. Clients may elect to have Advisory Fee be billed directly to Client (and not deducted from Client’s Account). Client agrees to pay all Advisory Fees within 30 days of Client’s receipt of an invoice from Advisor.

Advisory Fees. Client will pay Advisor a fee for its investment advisory services. The fee will be a percentage of the market value of all assets in the Account on the last trading day of each calendar quarter. The payment method and fee schedule is set forth in Schedule “A”. The Advisory Fee is payable quarterly in arrears. In any partial calendar quarter, the advisory fee will be pro rated based on the number of days that the Account was open during the quarter. The formula to calculate your fee is: Account Number of Days in Calendar Quarter Annual Percentage = Quarterly Value X 91.25 = X Rate = 4 Bill Paid Client understands that Account assets invested in shares of mutual funds or other investment companies (“funds”) will be included in calculating the value of the Account for purposes of computing Advisor’s fees and the same assets will also be subject to additional advisory and other fees and expenses, as set forth in the prospectuses of those funds, paid by the funds but ultimately borne by the investor. Client also understands certain Funds may impose a contingent deferred sales charge on withdrawals taken from their accounts. Advisor reserves the right to negotiate Advisory Fees. Fee changes cannot be made without your authorization. Upon Firm approval, fee decreases from those stated in this Client Agreement may be made with verbal authorization. Fee increases above those stated in this Agreement will require execution of a new Agreement. Client may elect to pay Advisor for its services by authorizing the Custodian to deduct from Client’s Account and pay to Advisor the Advisory Fee for each calendar year quarter. Advisor will send to the Custodian a quarterly statement showing the amount of the management fee due, the Account value on which the fee is based and how the fee was calculated. The Custodian will send Client a monthly or at least quarterly statement showing all amounts paid from the Account, including all management fees paid by Custodian to Advisor. If elected pursuant to Schedule “A”, Client authorizes the Clearing Firm or Custodian to charge the account for the management fees as instructed by a principal of our Broker-DealerBroker‐Dealer. Client is solely responsible for verifying the accuracy of the fee computations and acknowledges that the The Custodian will not determine whether the fee is properly calculated. Clients may elect to have Advisory Fee be billed directly to Client (and not deducted from Client’s Account). Client agrees to pay all Advisory Fees within 30 days of Client’s receipt of an invoice from Advisor.

Advisory Fees. Client will pay Advisor a fee for its investment advisory services. The fee will be a percentage of the market value of all assets in the Account on the last trading day of each calendar quarter. The payment method and fee schedule is set forth in Schedule “A”. The Advisory Fee is payable quarterly in arrears. In any partial calendar quarter, the advisory fee will be pro rated pro‐rated based on the number of days that the Account was open during the quarter. Client understands that Account assets invested in shares of mutual funds or other investment companies (“funds”) will be included in calculating the value of the Account for purposes of computing Advisor’s fees and the same assets will also be subject to additional advisory and other fees and expenses, as set forth in the prospectuses of those funds, paid by the funds but ultimately borne by the investor. Client also understands certain Funds may impose a contingent deferred sales charge on withdrawals taken from their accounts. Advisor reserves the right to negotiate Advisory Fees. Fee changes cannot be made without your authorization. Upon Firm approval, fee decreases from those stated in this Client Agreement may be made with verbal authorization. Fee increases above those stated in this Agreement will require execution of a new Agreement. Client may elect to pay Advisor for its services by authorizing the Custodian to deduct from Client’s Account and pay to Advisor the Advisory Fee for each calendar year quarter. Advisor will send to the Custodian a quarterly statement showing the amount of the management fee due, the Account value on which the fee is based and how the fee was calculated. The Custodian will send Client a monthly or at least quarterly statement showing all amounts paid from the Account, including all management fees paid by Custodian to Advisor. If elected pursuant to Schedule “A”, Client authorizes the Clearing Firm or Custodian to charge the account for the management fees as instructed by a principal of our Broker-DealerBroker‐Dealer. Client is solely responsible for verifying the accuracy of the fee computations and acknowledges that the Custodian will not determine whether the fee is properly calculated. Clients may elect to have Advisory Fee be billed directly to Client (and not deducted from Client’s Account). Client agrees to pay all Advisory Fees within 30 days of Client’s receipt of an invoice from Advisor.

Advisory Fees. Client will pay Advisor a fee for its investment advisory services. The fee will be a percentage of the market value of all assets in the Account on the last trading day of each calendar quarter. The payment method and fee schedule is set forth in Schedule “A”. The Advisory Fee is payable quarterly in arrears. In any partial calendar quarter, the advisory fee will be pro rated based on the number of days that the Account was open during the quarter. Client understands that Account assets invested in shares of mutual funds or other investment companies (“funds”) will be included in calculating the value of the Account for purposes of computing Advisor’s fees and the same assets will also be subject to additional advisory and other fees and expenses, as set forth in the prospectuses of those funds, paid by the funds but ultimately borne by the investor. Client also understands certain Funds may impose a contingent deferred sales charge on withdrawals taken from their accounts. Advisor reserves the right to negotiate Advisory Fees. Fee changes cannot be made without your authorization. Upon Firm approval, fee decreases from those stated in this Client Agreement may be made with verbal authorization. Fee increases above those stated in this Agreement will require execution of a new Agreement. Client may elect to pay Advisor for its services by authorizing the Custodian to deduct from Client’s Account and pay to Advisor the Advisory Fee for each calendar year quarter. Advisor will send to the Custodian a quarterly statement showing the amount of the management fee due, the Account value on which the fee is based and how the fee was calculated. The Custodian will send Client a monthly or at least quarterly statement showing all amounts paid from the Account, including all management fees paid by Custodian to Advisor. If elected pursuant to Schedule “A”, Client authorizes the Clearing Firm or Custodian to charge the account for the management fees as instructed by a principal of our Broker-DealerBroker‐Dealer. Client is solely responsible for verifying the accuracy of the fee computations and acknowledges that the Custodian will not determine whether the fee is properly calculated. Clients may elect to have Advisory Fee be billed directly to Client (and not deducted from Client’s Account). Client agrees to pay all Advisory Fees within 30 days of Client’s receipt of an invoice from Advisor.

Advisory Fees. Client will pay Advisor Adviser a fee for its investment advisory services. The fee will be a percentage of the market value of all assets in the Account on the last trading day of each calendar quarter. The payment method and fee schedule is set forth in Schedule “A”. A. The Advisory Fee is payable quarterly in advance or in arrears. In any partial calendar quarter, the advisory fee will be pro rated based on the number of days that the Account was open during the quarter. Client understands that Account assets invested in shares of mutual funds or other investment companies (“funds”) will be included in calculating the value of the Account for purposes of computing AdvisorAdviser’s fees and the same assets will also be subject to additional advisory and other fees and expenses, as set forth in the prospectuses of those funds, paid by the funds but ultimately borne by the investor. Client also understands certain Funds may impose a contingent deferred sales charge on withdrawals taken from their accounts. Advisor reserves the right to negotiate Advisory Fees. Client may elect to pay Advisor for its services by authorizing the Custodian to deduct from Client’s Account and pay to Advisor Adviser the Advisory Fee for each calendar year quarter. Advisor Adviser will send to the Custodian a quarterly statement showing the amount of the management fee due, the Account value on which the fee is based and how the fee was calculated. calculated The Custodian will send Client a monthly or at least quarterly statement showing all amounts paid from the Account, including all management fees paid by Custodian to AdvisorAdviser. If elected pursuant to Schedule “A”, Client authorizes the Clearing Firm or Custodian to charge the account for the management fees as instructed by a principal of our Broker-Broker- Dealer. Client is solely responsible for verifying the accuracy of the fee computations and acknowledges that the Custodian will not determine whether the fee is properly calculated. Clients may elect to have Advisory Fee be billed directly to Client (and not deducted from Client’s Account). Client agrees to pay all Advisory Fees within 30 days of Client’s receipt of an invoice from AdvisorAdviser.

Advisory Fees. Client will pay Advisor a fee for its investment advisory services. The fee will be a percentage of the market value of all assets in the Account on the last trading day of each calendar quarter. The payment method and fee schedule is set forth in Schedule “A”. The Advisory Fee is payable quarterly in arrears. In any partial calendar quarter, the advisory fee will be pro rated based on the number of days that the Account was open during the quarter. Client understands that Account assets invested in shares of mutual funds or other investment companies (“funds”) will be included in calculating the value of the Account for purposes of computing Advisor’s fees and the same assets will also be subject to additional advisory and other fees and expenses, as set forth in the prospectuses of those funds, paid by the funds but ultimately borne by the investor. Client also understands certain Funds may impose a contingent deferred sales charge on withdrawals taken from their accounts. Advisor reserves the right to negotiate Advisory Fees. Client may elect to pay Advisor for its services by authorizing the Custodian to deduct from Client’s Account and pay to Advisor Ad visor the Advisory Fee for each calendar year quarter. Advisor will send to the Custodian a quarterly statement showing the amount of the management fee due, the Account value on which the fee is based and how the fee was calculated. The Custodian will send Client a monthly or at least quarterly statement showing all amounts paid from the Account, including all management fees paid by Custodian to Advisor. If elected pursuant to Schedule “A”, Client authorizes the Clearing Firm or Custodian to charge the account for the management fees as instructed by a principal of our Broker-Dealer. Client is solely responsible for verifying the accuracy of the fee computations and acknowledges that the Custodian will not determine whether the fee is properly calculated. Clients may elect to have Advisory Fee be billed directly to Client (and not deducted from Client’s Account). Client agrees to pay all Advisory Fees within 30 days of Client’s receipt of an invoice from Advisor.

Advisory Fees. Client will pay Advisor a fee for its investment advisory services. The fee will be a percentage of the market value of all assets in the Account on the last trading day of each calendar quarter. The payment method and fee schedule is set forth in Schedule “A”. The Advisory Fee is payable quarterly in arrears. In any partial calendar quarter, the advisory fee will be pro rated based on the number of days that the Account was open during the quarter. Client understands that Account assets invested in shares of mutual funds or other investment companies (“funds”) will be included in calculating the value of the Account for purposes of computing Advisor’s fees and the same assets will also be subject to additional advisory and other fees and expenses, as set forth in the prospectuses of those funds, paid by the funds but ultimately borne by the investor. Client also understands certain Funds may impose a contingent deferred sales charge on withdrawals taken from their accounts. Advisor reserves the right to negotiate Advisory Fees. Fee changes cannot be made without your authorization. Upon Firm approval, fee decreases from those stated in this Client Agreement may be made with verbal authorization. Fee increases above those stated in this Agreement will require execution of a new Agreement. Temporary fee reductions may be allowed. Client may elect to pay Advisor for its services by authorizing the Custodian to deduct from Client’s Account and pay to Advisor the Advisory Fee for each calendar year quarter. Advisor will send to the Custodian a quarterly statement showing the amount of the management fee due, the Account value on which the fee is based and how the fee was calculated. The Custodian will send Client a monthly or at least quarterly statement showing all amounts paid from the Account, including all management fees paid by Custodian to Advisor. If elected pursuant to Schedule “A”, Client authorizes the Clearing Firm or Custodian to charge the account for the management fees as instructed by a principal of our Broker-Dealer. Client is solely responsible for verifying the accuracy of the fee computations and acknowledges that the Custodian will not determine whether the fee is properly calculated. Clients may elect to have Advisory Fee be billed directly to Client (and not deducted from Client’s Account). Client agrees to pay all Advisory Fees within 30 days of Client’s receipt of an invoice from Advisor.

Advisory Fees. The Client will pay the Advisor a fee for its investment advisory management services. The fee will be a percentage of the market value of all assets in the Account Managed Assets on the last trading day of each calendar quarteradvisory fee period as set forth in the Advisory Fee Schedule on page 3. The advisory fee frequency, payment method method, and fee schedule is are set forth in the Advisory Fee Schedule “A”on page 3. The Advisory Fee is payable quarterly in arrears. In any partial calendar quarteradvisory fee cycle, the advisory fee Advisory Fee will be pro rated prorated based on the number of days that the Account was open assets will be under management during the quarteradvisory fee period. The Client understands that Account assets invested the Advisory Fees as represented in shares of mutual funds or other investment companies (“funds”) will be included in calculating the value of the Account for purposes of computing Advisor’s fees and the same assets will also be subject to additional advisory Advisory Fee Schedule on page 3 do not reflect operating expenses and other fees and expenses, as set forth in the prospectuses of those funds, costs paid by the funds but asset types in which the Managed Assets are invested and that the fees and expenses of these asset types are ultimately borne by the investor. The Client also understands that certain Funds asset types may impose a charge contingent deferred sales charge charges on withdrawals taken from their accountsan account. The Client understands that as much as one hundred percent of the Managed Assets may be invested in shares of asset types that are advised or otherwise managed by the Advisor (“Affiliated Funds”) and that, as such, the Client will receive a credit against Advisory Fees otherwise payable to the Advisor pursuant to the Advisory Fee Schedule on page 3 for all operating expenses of the Affiliated Funds, including management fees paid to the Advisor. The effect of this credit will be to reduce the amount payable directly to the Advisor by the Client hereunder, but the credit will not affect the amount received by the Advisor for providing services to the Client inasmuch as the Advisor is retaining the amounts paid to it by the Affiliated Funds. The Client may, at any time, prohibit the Advisor from placing any Managed Assets in Affiliated Funds. The Advisor is free to pay all or any amount of said Advisory Fee to another advisor (“Solicitor”) that has established a relationship with the Client and who has served the purpose of introducing the Client to the Advisor. The Advisor reserves the right to negotiate Advisory Fees. The Client may elect agrees to pay the Advisor for its services by authorizing the Custodian to deduct from Client’s Account the Managed Assets and pay to the Advisor the Advisory Fee for each calendar year quarterAdvisory Fee cycle so indicated on the Advisory Fee Schedule on page 3. The Advisor will send to the Custodian a quarterly and the Client an advisory fee statement showing the amount of the management Advisory Fee due. Client’s advisory fee due, statement will also show the Account Managed Asset’s value on which the fee is based and how the fee was calculated. The Custodian will send the Client a monthly or at least quarterly statement showing all amounts paid from the AccountManaged Assets, including all management fees Advisory Fees paid by Custodian to Advisor. If elected pursuant to Schedule “A”, Client authorizes the Clearing Firm or Custodian to charge the account for the management fees as instructed by a principal of our Broker-Dealer. The Client is solely responsible for verifying the accuracy of the fee computations calculations and acknowledges that the Custodian will not determine whether the fee is properly property calculated. Clients may elect to have Advisory Fee be billed directly to Client (and not deducted from Client’s Account). Client agrees to pay all Advisory Fees within 30 days of Client’s receipt of an invoice from Advisor.