Common use of MODEL WEALTH PORTFOLIOS PROGRAM Clause in Contracts

MODEL WEALTH PORTFOLIOS PROGRAM. The Program offers clients the ability to participate in a professionally managed asset allocation program. Under the Program, Client authorizes LPL and IAR on a discretionary basis to purchase and sell mutual funds and exchange- traded funds (“ETF”) pursuant to an investment objective chosen by Client and to liquidate previously purchased securities. Exchange-traded notes (“ETN”) and closed end funds may also be purchased in an Account. Client understands that the investment objective selected for the Account in the Account Application is an overall objective for the entire Account and may be inconsistent with a particular holding and the Account’s performance at any time. Client understands that achievement of the stated investment objective is a long-term goal for the Account. IAR will obtain the necessary financial data from Client, assist Client in determining the suitability of the Program and assist Client in setting an appropriate investment objective. IAR will initiate the steps necessary to open an Account and select a model portfolio designed by LPL’s Research Department, a third party investment strategist or IAR (each, a “Portfolio Strategist”) consistent with Client’s stated investment objective. The Portfolio Strategist is responsible for selecting the securities within a model portfolio and for making changes to the securities selected. The Portfolio Strategist provides the model portfolio to LPL and LPL makes the decisions on how to implement the model. Client understands and agrees that IAR may choose more than one model portfolio to be managed within a single account. Client grants IAR discretion to choose among the available models designed by the Portfolio Strategists. As discussed above, Client understands that, although the Account may be open, the obligation of LPL to manage the Account, or for LPL or IAR to provide advisory services with respect to the Account, begins only after LPL has accepted the Account. Once the IAR has selected the model portfolio(s) and the allocation amongst the model portfolios, and the applicable asset minimums have been reached for such model portfolios and allocation, LPL will purchase mutual funds, closed-end funds, ETFs or ETNs in amounts appropriate for the model portfolio selected. Checks for funds to be invested in the Account should be made payable to LPL Financial LLC. LPL will review the Account to determine if rebalancing is appropriate based on the frequency selected by Client at account opening or as altered by Client or IAR from time to time. The choices for frequency of rebalancing review are quarterly (four times per year), semiannually (two times per year) or annually (once per year). The Account will be reviewed on the frequency selected to determine if rebalancing is necessary. At each rebalancing review date, the Account will be rebalanced if at least one of the Account positions is outside a range determined by the Overlay Portfolio Manager (as defined below), subject to a minimum transaction amount established by LPL in its discretion. In addition, LPL may review the Account for rebalancing in the event that the Portfolio Strategist changes the model portfolio. LPL may delay placing rebalancing transactions for non-qualified accounts by a number of days, to be determined by the Overlay Portfolio Manager, in an attempt to limit short-term tax treatment for any position being sold. Transactions in securities in the Account (e.g., for rebalancing, liquidations, deposits or tax harvesting) may be subject to the issuer’s frequent trading policy. During any month that there is activity in the Account, Client will receive a monthly account statement showing account activity as well as positions held in the Account at month-end. If Client so elects in the Account Application, Client will not receive a confirmation of the transactions that occur within Account, and confirmation details of the transactions will be displayed on the brokerage statement. Client may request to receive confirmation statements by contacting his or her IAR and may rescind the election at any time upon written notice to LPL. Client will also receive from LPL detailed quarterly performance information describing account performance and positions. The minimum account size varies depending on the model portfolio(s) selected. The lowest model portfolio minimum account value is $25,000. In certain instances, LPL will permit a lower minimum for a Portfolio. Client understands that the Account will not be invested according to the model portfolio(s) until the applicable asset minimums have been reached. Client should consult with IAR to obtain more information about the applicable investment minimum based on the model portfolio(s) selected and the allocation amongst the model portfolios. Client may make cash additions to the Account at any time and may withdraw Account assets on notice to IAR, subject to Section 9 below. Additional deposits will be invested in securities consistent with the current target allocation for the model portfolio, but such deposits (or a portion thereof) may remain in cash until certain conditions are met related to trade size and position deviation from the target allocation. LPL may accommodate requests by Client or IAR for all or a portion of the assets in the Account to remain allocated to cash for a period of time. Client acknowledges that customized model portfolio requests, liquidation requests in connection with withdrawals, and changes to the model portfolios or investment objective selected may take up to 5 business days to process, and, in certain circumstances, may take longer. In the event Client withdrawals cause the Account asset value to fall below the required minimum, Client understands this Agreement may be subject to immediate termination under the provisions of Section 9. Client understands that the Program is designed as a long-term investment vehicle and that asset withdrawals may impair the achievement of Client’s investment objectives. Client retains the right to pledge assets held in the Account. Subject to restrictions that may be placed on the assets, and subject to LPL’s policies regarding pledged assets, pledged assets may be held in an Account. Client will be responsible for completing the pledge of the collateral. If restrictions on the assets apply, the assets may be withdrawn from the Account. LPL will not continue to manage any positions that have been withdrawn. LPL reserves the right to accept, reject or renew this Agreement in its sole discretion and for any reason.

MODEL WEALTH PORTFOLIOS PROGRAM. The Program offers clients the ability to participate in a professionally managed asset allocation program. Under the Program, Client authorizes LPL and IAR Advisor on a discretionary basis to purchase and sell mutual funds and exchange- traded funds (“ETF”) pursuant to an investment objective chosen by Client and to liquidate previously purchased securities. Exchange-traded notes (“ETN”) and closed end funds may also be purchased in an Account. Advisor, through its designated investment advisor representative (“IAR”), will obtain the necessary financial data from Client, assist Client in determining the suitability of the Program and assist Client in setting an appropriate investment objective. Client understands that the investment objective selected for the Account in the Account Application is an overall objective for the entire Account and may be inconsistent with a particular holding and the Account’s performance at any time. Client understands that achievement of the stated investment objective is a long-term goal for the Account. IAR will obtain the necessary financial data from Client, assist Client in determining the suitability of the Program and assist Client in setting an appropriate investment objective. IAR Advisor will initiate the steps necessary to open an Account and select a model portfolio designed by LPL’s Research Department, a third party investment strategist or Advisor, through its IAR (each, a “Portfolio Strategist”) ), consistent with Client’s stated investment objective. The Portfolio Strategist is responsible for selecting the securities within a model portfolio and for making changes to the securities selected. The Portfolio Strategist provides the model portfolio to LPL and LPL makes the decisions on how to implement the model. Client understands and agrees that IAR may choose more than one model portfolio to be managed within a single account. Client grants IAR Advisor discretion to choose among the available models designed by the Portfolio Strategists. As discussed aboveIn certain cases, Client understands that, although the Account more than one model portfolio may be open, the obligation of LPL to manage the Account, or for LPL or IAR to provide advisory services with respect to the Account, begins only after LPL has accepted the Accountmanaged within a single account. Once the IAR Advisor has selected the model portfolio(s) and the allocation amongst the model portfolios, and the applicable asset minimums have been reached for such model portfolios and allocation, LPL will purchase mutual funds, closed-end funds, ETFs or ETNs in amounts appropriate for the model portfolio selected. Checks for funds to be invested in the an Account should be made payable to LPL Financial LLC. LPL will review the Account to determine if rebalancing is appropriate based on the frequency selected by Client at account opening or as altered by Client or IAR Advisor from time to time. The choices for frequency of rebalancing review are quarterly (four times per year), semiannually (two times per year) or annually (once per year). The Account will be reviewed on the frequency selected to determine if rebalancing is necessary. At each rebalancing review date, the Account will be rebalanced if at least one of the Account positions is outside a range determined by the Overlay Portfolio Manager (as defined below), subject to a minimum transaction amount established by LPL in its discretion. In addition, LPL may review the Account for rebalancing in the event that the Portfolio Strategist changes the model portfolio. LPL may delay placing rebalancing transactions for non-qualified accounts Accounts by a number of days, to be determined by the Overlay Portfolio Manager, in an attempt to limit short-term tax treatment for any position being sold. Transactions in securities in the Account (e.g., for rebalancing, liquidations, deposits or tax harvesting) may be subject to the issuer’s frequent trading policy. During any month that there is activity in the Account, Client will receive a monthly account statement showing account Account activity as well as positions held in the Account at month-end. If Client so elects in the Account Application, Client will not receive a confirmation of the transactions that occur within the Account, and confirmation details of the transactions will be displayed on the brokerage statement. Client may request to receive confirmation statements by contacting his or her IAR Advisor and may rescind the election at any time upon written notice to LPL. Client LPL will also receive from LPL detailed provide to Advisor, and if so directed by Advisor, will provide to client, quarterly performance information describing account performance and positionsperformance. The minimum account size varies depending on the model portfolio(s) selected. The lowest model portfolio minimum account value is $25,000. In certain instances, LPL will permit a lower minimum for a Portfolio. Client understands that the Account will not be invested according to the model portfolio(s) until the applicable asset minimums have been reached. Client should consult with IAR Advisor to obtain more information about the applicable investment minimum based on the model portfolio(s) selected and the allocation amongst the model portfolios. Client may make cash additions to the Account at any time and may withdraw Account assets on notice to IARAdvisor, subject to Section 9 10 below. Additional deposits will be invested in securities consistent with the current target allocation for the model portfolio, but such deposits (or a portion thereof) may remain in cash until certain conditions are met related to trade size and position deviation from the target allocation. LPL may accommodate requests by Client or IAR for all or a portion of the assets in the Account to remain unallocated allocated to cash for a period of time. Client acknowledges that Such customized model portfolio requests, liquidation requests in connection with withdrawals, and changes to the model portfolios or investment objective selected may take up to 5 business days to process, and, in certain circumstances, may take longer. Client may withdraw Account assets upon notice to Advisor, subject to Section 10 below. In the event Client withdrawals cause the Account asset value to fall below the required minimum, Client understands that this Agreement may be subject to immediate termination under the provisions of Section 910. Client understands that the Program is designed as a long-term investment vehicle and that asset withdrawals may impair the achievement of Client’s investment objectives. Client retains the right to pledge assets held in the Account. Subject to restrictions that may be placed on the assets, and subject to LPL’s policies regarding pledged assets, pledged assets may be held in an Account. Client will be responsible for completing the pledge of the collateral. If restrictions on the assets apply, the assets may be withdrawn from the Account. LPL will not continue to manage any positions that have been withdrawn. LPL reserves and Advisor each reserve the right to accept, reject or renew this Agreement in its sole discretion and for any reason. Associated persons of Advisor may also be broker-dealer registered representatives of LPL. If an associated person of Advisor is a broker-dealer registered representative of LPL, that person is not acting in a brokerage capacity or on behalf of LPL in any way with respect to the services provided under this Agreement.

MODEL WEALTH PORTFOLIOS PROGRAM. The Program offers clients the ability to participate in a professionally managed asset allocation program. Under the Program, Client authorizes LPL and IAR Advisor on a discretionary basis to purchase and sell mutual funds and exchange- traded funds (“ETF”) pursuant to an investment objective chosen by Client and to liquidate previously purchased securities. Exchange-traded notes (“ETN”) and closed end funds may also be purchased in an Account. Advisor, through its designated investment advisor representative (“IAR”), will obtain the necessary financial data from Client, assist Client in determining the suitability of the Program and assist Client in setting an appropriate investment objective. Client understands that the investment objective selected for the Account in the Account Application is an overall objective for the entire Account and may be inconsistent with a particular holding and the Account’s performance at any time. Client understands that achievement of the stated investment objective is a long-term goal for the Account. IAR will obtain the necessary financial data from Client, assist Client in determining the suitability of the Program and assist Client in setting an appropriate investment objective. IAR Advisor will initiate the steps necessary to open an Account and select a model portfolio designed by LPL’s Research Department, a third party investment strategist or Advisor, through its IAR (each, a “Portfolio Strategist”) ), consistent with Client’s stated investment objective. The Portfolio Strategist is responsible for selecting the securities within a model portfolio and for making changes to the securities selected. The Portfolio Strategist provides the model portfolio to LPL and LPL makes the decisions on how to implement the model. Client understands and agrees that IAR may choose more than one model portfolio to be managed within a single account. Client grants IAR Advisor discretion to choose among the available models designed by the Portfolio Strategists. As discussed aboveIn certain cases, Client understands that, although the Account more than one model portfolio may be open, the obligation of LPL to manage the Account, or for LPL or IAR to provide advisory services with respect to the Account, begins only after LPL has accepted the Accountmanaged within a single account. Once the IAR Advisor has selected the model portfolio(s) and the allocation amongst the model portfolios, and the applicable asset minimums have been reached for such model portfolios and allocation, LPL will purchase mutual funds, closed-end funds, ETFs or ETNs in amounts appropriate for the model portfolio selected. Checks for funds to be invested in the an Account should be made payable to LPL Financial LLC. LPL will review the Account to determine if rebalancing is appropriate based on the frequency selected by Client at account opening or as altered by Client or IAR Advisor from time to time. The choices for frequency of rebalancing review are quarterly (four times per year), semiannually (two times per year) or annually (once per year). The Account will be reviewed on the frequency selected to determine if rebalancing is necessary. At each rebalancing review date, the Account will be rebalanced if at least one of the Account positions is outside a range determined by the Overlay Portfolio Manager (as defined below), subject to a minimum transaction amount established by LPL in its discretion. In addition, LPL may review the Account for rebalancing in the event that the Portfolio Strategist changes the model portfolio. LPL may delay placing rebalancing transactions for non-qualified accounts Accounts by a number of days, to be determined by the Overlay Portfolio Manager, in an attempt to limit short-term tax treatment for any position being sold. Transactions in securities in the Account (e.g., for rebalancing, liquidations, deposits or tax harvesting) may be subject to the issuer’s frequent trading policy. During any month that there is activity in the Account, Client will receive a monthly account statement showing account Account activity as well as positions held in the Account at month-end. If Client so elects in the Account Application, Client will not receive a confirmation of the transactions that occur within the Account, and confirmation details of the transactions will be displayed on the brokerage statement. Client may request to receive confirmation statements by contacting his or her IAR Advisor and may rescind the election at any time upon written notice to LPL. Client LPL will also receive from LPL detailed quarterly provide to Advisor, and if so directed by Advisor, will provide to client, annual performance information describing account performance and positionsperformance. The minimum account size varies depending on the model portfolio(s) selected. The lowest model portfolio minimum account value is $25,00010,000. In certain instances, LPL will permit a lower minimum for a Portfolio. Client understands that the Account will not be invested according to the model portfolio(s) until the applicable asset minimums have been reached. Client should consult with IAR Advisor to obtain more information about the applicable investment minimum based on the model portfolio(s) selected and the allocation amongst the model portfolios. Client may make cash additions to the Account at any time and may withdraw Account assets on notice to IARAdvisor, subject to Section 9 10 below. Additional deposits will be invested in securities consistent with the current target allocation for the model portfolio, but such deposits (or a portion thereof) may remain in cash until certain conditions are met related to trade size and position deviation from the target allocation. LPL may accommodate requests by Client or IAR for all or a portion of the assets in the Account to remain unallocated allocated to cash for a period of time. Client acknowledges that customized model portfolio requestsmay withdraw Account assets upon notice to Advisor, liquidation requests in connection with withdrawals, and changes subject to the model portfolios or investment objective selected may take up to 5 business days to process, and, in certain circumstances, may take longerSection 10 below. In the event Client withdrawals cause the Account asset value to fall below the required minimum, Client understands that this Agreement may be subject to immediate termination under the provisions of Section 910. Client understands that the Program is designed as a long-term investment vehicle and that asset withdrawals may impair the achievement of Client’s investment objectives. Client retains the right to pledge assets held in the Account. Subject to restrictions that may be placed on the assets, and subject to LPL’s policies regarding pledged assets, pledged assets may be held in an Account. Client will be responsible for completing the pledge of the collateral. If restrictions on the assets apply, the assets may be withdrawn from the Account. LPL will not continue to manage any positions that have been withdrawn. LPL reserves and Advisor each reserve the right to accept, reject or renew this Agreement in its sole discretion and for any reason. Associated persons of Advisor may also be broker-dealer registered representatives of LPL. If an associated person of Advisor is a broker-dealer registered representative of LPL, that person is not acting in a brokerage capacity or on behalf of LPL in any way with respect to the services provided under this Agreement.

MODEL WEALTH PORTFOLIOS PROGRAM. The Program offers clients the ability to participate in a professionally managed asset allocation program. Under the Program, Client authorizes LPL and IAR Advisor on a discretionary basis to purchase and sell mutual funds and exchange- traded funds (“ETF”) pursuant to an investment objective chosen by Client and to liquidate previously purchased securities. Exchange-traded notes (“ETN”) and closed end funds may also be purchased in an Account. Advisor, through its designated investment advisor representative (“IAR”), will obtain the necessary financial data from Client, assist Client in determining the suitability of the Program and assist Client in setting an appropriate investment objective. Client understands that the investment objective selected for the Account in the Account Application is an overall objective for the entire Account and may be inconsistent with a particular holding and the Account’s performance at any time. Client understands that achievement of the stated investment objective is a long-term goal for the Account. IAR will obtain the necessary financial data from Client, assist Client in determining the suitability of the Program and assist Client in setting an appropriate investment objective. IAR Advisor will initiate the steps necessary to open an Account and select a model portfolio designed by LPL’s Research Department, a third party investment strategist or Advisor, through its IAR (each, a “Portfolio Strategist”) ), consistent with Client’s stated investment objective. The Portfolio Strategist is responsible for selecting the securities within a model portfolio and for making changes to the securities selected. The Portfolio Strategist provides the model portfolio to LPL and LPL makes the decisions on how to implement the model. Client understands and agrees that IAR may choose more than one model portfolio to be managed within a single account. Client grants IAR Advisor discretion to choose among the available models designed by the Portfolio Strategists. As discussed aboveIn certain cases, Client understands that, although the Account more than one model portfolio may be open, the obligation of LPL to manage the Account, or for LPL or IAR to provide advisory services with respect to the Account, begins only after LPL has accepted the Accountmanaged within a single account. Once the IAR Advisor has selected the model portfolio(s) and the allocation amongst the model portfolios, and the applicable asset minimums have been reached for such model portfolios and allocation, LPL will purchase mutual funds, closed-end funds, ETFs or ETNs in amounts appropriate for the model portfolio selected. Checks for funds to be invested in the an Account should be made payable to LPL Financial LLC. LPL will review the Account to determine if rebalancing is appropriate based on the frequency selected by the Client at account opening or as altered by the Client or IAR Advisor from time to time. The choices for frequency of rebalancing review are quarterly (four times per year), semiannually (two times per year) or annually (once per year). The Account will be reviewed on the frequency selected to determine if rebalancing is necessary. At each rebalancing review date, the Account will be rebalanced if at least one of the Account account positions is outside a range determined by the Overlay Portfolio Manager (as defined below), subject to a minimum transaction amount established by LPL in its discretion. In addition, LPL may review the Account for rebalancing in the event that the Portfolio Strategist changes the model portfolio. LPL may delay placing rebalancing transactions for non-qualified accounts Accounts by a number of days, to be determined by the Overlay Portfolio Manager, in an attempt to limit short-term tax treatment for any position being sold. Transactions in securities in the Account (e.g., for rebalancing, liquidations, deposits or tax harvesting) may be subject to the issuer’s frequent trading policy. During any month that there is activity in the Account, Client will receive a monthly account statement showing account Account activity as well as positions held in the Account at month-end. If Client so elects in the Account Application, Client will not receive a confirmation of the transactions that occur within the Account, and confirmation details of the transactions will be displayed on the brokerage statement. Client may request to receive confirmation statements by contacting his or her IAR Advisor and may rescind the election at any time upon written notice to LPL. Client LPL will also receive from LPL detailed provide to Advisor, and if so directed by Advisor, will provide to client, quarterly performance information describing account performance and positionsperformance. The minimum account size varies depending on the model portfolio(s) selected. The lowest model portfolio minimum account value is $25,000. In certain instances, LPL will permit a lower minimum for a Portfolio. Client understands that the Account will not be invested according to the model portfolio(s) until the applicable asset minimums have been reached. Client should consult with IAR Advisor to obtain more information about the applicable investment minimum based on the model portfolio(s) selected and the allocation amongst the model portfolios. Client may make cash additions to the Account at any time and may withdraw Account assets on notice to IARAdvisor, subject to Section 9 10 below. Additional deposits will be invested in securities consistent with the current target allocation for the model portfolio, but such deposits (or a portion thereof) may remain in cash until certain conditions are met related to trade size and position deviation from the target allocation. LPL may accommodate requests by Client or IAR for all or a portion of the assets in the Account to remain unallocated allocated to cash for a period of time. Client acknowledges that Such customized model portfolio requests, liquidation requests in connection with withdrawals, and changes to the model portfolios or investment objective selected may take up to 5 business days to process, and, in certain circumstances, may take longer. Client may withdraw Account assets upon notice to Advisor, subject to Section 10 below. In the event Client withdrawals cause the Account asset value to fall below the required minimum, Client understands that this Agreement may be subject to immediate termination under the provisions of Section 910. Client understands that the Program is designed as a long-term investment vehicle and that asset withdrawals may impair the achievement of Client’s investment objectives. Client retains the right to pledge assets held in the Account. Subject to restrictions that may be placed on the assets, and subject to LPL’s policies regarding pledged assets, pledged assets may be held in an Account. Client will be responsible for completing the pledge of the collateral. If restrictions on the assets apply, the assets may be withdrawn from the Account. LPL will not continue to manage any positions that have been withdrawn. LPL reserves and Advisor each reserve the right to accept, reject or renew this Agreement in its sole discretion and for any reason. Associated persons of Advisor may also be broker-dealer registered representatives of LPL. If an associated person of Advisor is a broker-dealer registered representative of LPL, that person is not acting in a brokerage capacity or on behalf of LPL in any way with respect to the services provided under this Agreement.

MODEL WEALTH PORTFOLIOS PROGRAM. The Program offers clients the ability to participate in a professionally managed asset allocation program. Under the Program, Client authorizes LPL and IAR on a discretionary basis to purchase and sell mutual funds and exchange- traded funds (“ETF”) pursuant to an investment objective chosen by the Client and to liquidate previously purchased securities. Exchange-traded notes (“ETN”) and closed end funds may also be purchased in an Account. Client understands that the investment objective selected for the Account in the Account Application is an overall objective for the entire Account and may be inconsistent with a particular holding and the Account’s performance at any time. Client understands that achievement of the stated investment objective is a long-term goal for the Account. IAR will obtain the necessary financial data from Client, assist Client in determining the suitability of the Program and assist Client in setting an appropriate investment objective. IAR will initiate the steps necessary to open an Account and select a model portfolio designed by LPL’s Research Department, a third party investment strategist or IAR (each, a “Portfolio Strategist”) consistent with the Client’s stated investment objective. The Portfolio Strategist is responsible for selecting the securities within a model portfolio and for making changes to the securities selected. The Portfolio Strategist provides the model portfolio to LPL and LPL makes the decisions on how to implement the model. Client understands and agrees that IAR may choose more than one model portfolio to be managed within a single account. Client grants IAR discretion to choose among the available models designed by the Portfolio Strategists. As discussed above, Client understands that, although the Account may be open, the obligation of LPL to manage the Account, or for LPL or IAR to provide advisory services with respect to the Account, begins only after LPL has accepted the Account. Once the IAR has selected the model portfolio(s) and the allocation amongst the model portfolios, and the applicable asset minimums have been reached for such model portfolios and allocation, LPL will purchase mutual funds, closed-end funds, ETFs or ETNs in amounts appropriate for the model portfolio selected. Checks for funds to be invested in the Account should be made payable to LPL Financial LLC. LPL will review the Account to determine if rebalancing is appropriate based on the frequency selected by the Client at account opening or as altered by the Client or IAR from time to time. The choices for frequency of rebalancing review are quarterly (four times per year), semiannually (two times per year) or annually (once per year). The Account will be reviewed on the frequency selected to determine if rebalancing is necessary. At each rebalancing review date, the Account will be rebalanced if at least one of the Account account positions is outside a range determined by the Overlay Portfolio Manager (as defined below), subject to a minimum transaction amount established by LPL in its discretion. In addition, LPL may review the Account account for rebalancing in the event that the Portfolio Strategist changes the model portfolio. LPL may delay placing rebalancing transactions for non-qualified accounts by a number of days, to be determined by the Overlay Portfolio Manager, in an attempt to limit short-term tax treatment for any position being sold. Transactions in securities in the Account (e.g., for rebalancing, liquidations, deposits or tax harvesting) may be subject to the issuer’s frequent trading policy. During any month that there is activity in the Account, Client will receive a monthly account statement showing account activity as well as positions held in the Account at month-end. If Client so elects in the Account Application, Client will not receive a confirmation of the transactions that occur within Account, and confirmation details of the transactions will be displayed on the brokerage statement. Client may request to receive confirmation statements by contacting his or her IAR and may rescind the election at any time upon written notice to LPL. The Client will also receive from LPL detailed quarterly performance information describing account performance and positions. The minimum account size varies depending on the model portfolio(s) selected. The lowest model portfolio minimum account value is $25,000. In certain instances, LPL will permit a lower minimum for a Portfolio. Client understands that the Account will not be invested according to the model portfolio(s) until the applicable asset minimums have been reached. Client should consult with IAR to obtain more information about the applicable investment minimum based on the model portfolio(s) selected and the allocation amongst the model portfolios. Client may make cash additions to the Account at any time and may withdraw Account assets on notice to IAR, subject to Section 9 below. Additional deposits will be invested in securities consistent with the current target allocation for the model portfolio, but such deposits (or a portion thereof) may remain in cash until certain conditions are met related to trade size and position deviation from the target allocation. LPL may accommodate requests by Client or IAR for all or a portion of the assets in the Account to remain allocated to cash for a period of time. Client acknowledges that customized model portfolio requests, liquidation requests in connection with withdrawals, and changes to the model portfolios or investment objective selected may take up to 5 business days to process, and, in certain circumstances, may take longer. In the event Client withdrawals cause the Account asset value to fall below the required minimum, Client understands this Agreement may be subject to immediate termination under the provisions of Section 9. Client understands that the Program is designed as a long-term investment vehicle and that asset withdrawals may impair the achievement of Client’s investment objectives. Client retains the right to pledge assets held in the Account. Subject to restrictions that may be placed on the assets, and subject to LPL’s policies regarding pledged assets, pledged assets may be held in an Account. Client will be responsible for completing the pledge of the collateral. If restrictions on the assets apply, the assets may be withdrawn from the Account. LPL will not continue to manage any positions that have been withdrawn. LPL reserves the right to accept, reject or renew this Agreement in its sole discretion and for any reason.

MODEL WEALTH PORTFOLIOS PROGRAM. The Program offers clients the ability to participate in a professionally managed asset allocation program. Under the Program, Client authorizes LPL and IAR on a discretionary basis to purchase and sell mutual funds and exchange- traded funds (“ETF”) pursuant to an investment objective chosen by Client and to liquidate previously purchased securities. Exchange-traded notes (“ETN”) and closed end funds may also be purchased in an Account. Client understands that the investment objective selected for the Account in the Account Application is an overall objective for the entire Account and may be inconsistent with a particular holding and the Account’s performance at any time. Client understands that achievement of the stated investment objective is a long-term goal for the Account. IAR will obtain the necessary financial data from Client, assist Client in determining the suitability of the Program and assist Client in setting an appropriate investment objective. IAR will initiate the steps necessary to open an Account and select a model portfolio designed by LPL’s Research Department, a third party investment strategist or IAR (each, a “Portfolio Strategist”) consistent with Client’s stated investment objective. The Portfolio Strategist is responsible for selecting the securities within a model portfolio and for making changes to the securities selected. The Portfolio Strategist provides the model portfolio to LPL and LPL makes the decisions on how to implement the model. Client understands and agrees that IAR may choose more than one model portfolio to be managed within a single account. Client grants IAR discretion to choose among the available models designed by the Portfolio Strategists. As discussed above, Client understands that, although the Account may be open, the obligation of LPL to manage the Account, or for LPL or IAR to provide advisory services with respect to the Account, begins only after LPL has accepted the Account. Once the IAR has selected the model portfolio(s) and the allocation amongst the model portfolios, and the applicable asset minimums have been reached for such model portfolios and allocation, LPL will purchase mutual funds, closed-end funds, ETFs or ETNs in amounts appropriate for the model portfolio selected. Checks for funds to be invested in the Account should be made payable to LPL Financial LLC. LPL will review the Account to determine if rebalancing is appropriate based on the frequency selected by Client at account opening or as altered by Client or IAR from time to time. The choices for frequency of rebalancing review are quarterly (four times per year), semiannually (two times per year) or annually (once per year). The Account will be reviewed on the frequency selected to determine if rebalancing is necessary. At each rebalancing review date, the Account will be rebalanced if at least one of the Account positions is outside a range determined by the Overlay Portfolio Manager (as defined below), subject to a minimum transaction amount established by LPL in its discretion. In addition, LPL may review the Account for rebalancing in the event that the Portfolio Strategist changes the model portfolio. LPL may delay placing rebalancing transactions for non-qualified accounts by a number of days, to be determined by the Overlay Portfolio Manager, in an attempt to limit short-term tax treatment for any position being sold. Transactions in securities in the Account (e.g., for rebalancing, liquidations, deposits or tax harvesting) may be subject to the issuer’s frequent trading policy. During any month that there is activity in the Account, Client will receive a monthly account statement showing account activity as well as positions held in the Account at month-end. If Client so elects in the Account Application, Client will not receive a confirmation of the transactions that occur within Account, and confirmation details of the transactions will be displayed on the brokerage statement. Client may request to receive confirmation statements by contacting his or her IAR and may rescind the election at any time upon written notice to LPL. Client will also receive from LPL detailed quarterly performance information describing account performance and positions. The minimum account size varies depending on the model portfolio(s) selected. The lowest model portfolio minimum account value is $25,00010,000. In certain instances, LPL will permit a lower minimum for a Portfolio. Client understands that the Account will not be invested according to the model portfolio(s) until the applicable asset minimums have been reached. Client should consult with IAR to obtain more information about the applicable investment minimum based on the model portfolio(s) selected and the allocation amongst the model portfolios. Client may make cash additions to the Account at any time and may withdraw Account assets on notice to IAR, subject to Section 9 below. Additional deposits will be invested in securities consistent with the current target allocation for the model portfolio, but such deposits (or a portion thereof) may remain in cash until certain conditions are met related to trade size and position deviation from the target allocation. LPL may accommodate requests by Client or IAR for all or a portion of the assets in the Account to remain allocated to cash for a period of time. Client acknowledges that customized model portfolio requests, liquidation requests in connection with withdrawals, and changes to the model portfolios or investment objective selected may take up to 5 business days to process, and, in certain circumstances, may take longer. In the event Client withdrawals cause the Account asset value to fall below the required minimum, Client understands this Agreement may be subject to immediate termination under the provisions of Section 9. Client understands that the Program is designed as a long-term investment vehicle and that asset withdrawals may impair the achievement of Client’s investment objectives. Client retains the right to pledge assets held in the Account. Subject to restrictions that may be placed on the assets, and subject to LPL’s policies regarding pledged assets, pledged assets may be held in an Account. Client will be responsible for completing the pledge of the collateral. If restrictions on the assets apply, the assets may be withdrawn from the Account. LPL will not continue to manage any positions that have been withdrawn. LPL reserves the right to accept, reject or renew this Agreement in its sole discretion and for any reason.