Common use of Calculation and Deduction of Fees Clause in Contracts

Calculation and Deduction of Fees. The Total Advisory Fee rate is noted under the Annual Advisory Fees section of this agreement. The fee for the effective period is determined by the total billable assets multiplied by the annual fee rate divided by the number of days in the current year and multiplied by the number of days in the effective period. In the event an account is not open the entire billing period, the advisory fee will be pro- rated for the time it was opened. Client authorizes Advisor to calculate and deduct its fees from the Account under the terms of this agreement. Any commissions, trading costs, redemption fees, and other expenses payable in connection with the execution of transactions for the account and any out-of-pocket expenses incurred shall be borne by the Account and, to the extent the Account’s funds are inadequate, by the Client. It is possible that the value of the account will include mutual funds, exchange-traded funds, or other investments that have additional fees and expenses as noted in the prospectus. Client acknowledges understanding that these expenses are paid by the funds but ultimately paid by the Client. Client also understands that it may be possible to find comparable services at a lower fee from other providers. Client understands that it is possible to obtain similar investment management services from other advisors at a lower cost.

Calculation and Deduction of Fees. The Total Advisory Fee rate is noted under the Annual Advisory Fees section of this agreement. The fee for the effective period is determined by the total billable assets multiplied by the annual fee rate divided by the number of days in the current year and multiplied by the number of days in the effective period. In the event an account is not open the entire billing period, the advisory fee will be pro- rated for the time it was opened. Client authorizes Advisor to calculate and deduct its fees from the Account under the terms of this agreement. At the time the fee is debited in the account, Advisor will send Client an invoice detailing the dollar amount, fee rate and time period used in the calculation of the fee. Any commissions, trading costs, redemption fees, and other expenses payable in connection with the execution of transactions for the account and any out-of-pocket expenses incurred shall be borne by the Account and, to the extent the Account’s funds are inadequate, by the Client. It is possible that the value of the account will include mutual funds, exchange-traded funds, or other investments that have additional fees and expenses as noted in the prospectus. Client acknowledges understanding that these expenses are paid by the funds but ultimately paid by the Client. Client also understands that it may be possible to find comparable services at a lower fee from other providers. Client understands that it is possible to obtain similar investment management services from other advisors at a lower cost.