Common use of Ongoing Fees Clause in Contracts

Ongoing Fees. The following ongoing fees will begin at contract approval and will be assessed on an annual basis. ● Base annual fee for up to three Funds in one Fund Family: $[REDACTED] ● Fee per Fund in Fund Family above three: $ [REDACTED] ● Fee per sub-adviser: $[REDACTED] These fees shall be assessed for each additional adviser, sub-adviser, or Fund added to the Trust. In the first calendar year, the ongoing fees shall be pro-rated, but shall in no event be less than $[REDACTED] for each Fund Family. Implementation Fees: A one-time initial implementation fee will be assessed to review the adviser’s policies and procedures, coordinate with the administrator, organize the liquidity program administrator committee, and provide guidance to the adviser in making initial liquidity assessments and bucketing determinations as follows: ● Base implementation fee (up to three Funds in one Fund Family): $[REDACTED] ● Fee per additional Fund in Fund Family above three: $ [REDACTED] ● Fee per sub-adviser: $[REDACTED] The base implementation fee and fee per sub-adviser shall be waived to the extent the adviser or any sub-adviser has been assessed fees for due diligence and an initial site visit as set forth above. The fee per each additional Fund in a Fund Family above three, however, will be assessed as each additional Fund is subsequently added to the Trust.

Ongoing Fees. The following ongoing fees will begin at contract approval and will be assessed on an annual basis. ● • Base annual fee for up to three Funds in one Fund Family: $[REDACTEDredacted] ● (waived as to the Grandfathered Funds) • Fee per Fund in Fund Family above three: $ $[REDACTEDredacted] ● • Fee per sub-adviser: $[REDACTEDredacted] These fees shall be assessed for each additional adviser, sub-adviser, or Fund added to the Trust. In the first calendar year, the ongoing fees shall be pro-rated, but shall in no event be less than $[REDACTEDredacted] for each Fund Family. Implementation Fees: A one-time initial implementation fee will be assessed to review the adviser’s policies and procedures, coordinate with the administrator, organize the liquidity program administrator committee, and provide guidance to the adviser in making initial liquidity assessments and bucketing determinations as follows: ● • Base implementation fee (up to three Funds in one Fund Family): $[REDACTEDredacted] ● (waived as to the Grandfathered Funds) • Fee per additional Fund in Fund Family above three: $ $[REDACTEDredacted] ● • Fee per sub-adviser: $[REDACTEDredacted] The base implementation fee and fee per sub-adviser shall be waived to the extent the adviser or any sub-adviser has been assessed fees for due diligence and an initial site visit as set forth above. The fee per each additional Fund in a Fund Family above three, however, will be assessed as each additional Fund is subsequently added to the Trust.

Ongoing Fees. The following ongoing fees will begin at contract approval and will be assessed on an annual basis. ● · Base annual fee for up to three Funds in one Fund Family: $[REDACTED] ● · Fee per Fund in Fund Family above three: $ $[REDACTED] ● · Fee per sub-adviser: $[REDACTED] These fees shall be assessed for each additional adviser, sub-adviser, or Fund added to the Trust. In the first calendar year, the ongoing fees shall be pro-rated, but shall in no event be less than $[REDACTED] for each Fund Family. Implementation Fees: A one-time initial implementation fee will be assessed to review the adviser’s policies and procedures, coordinate with the administrator, organize the liquidity program administrator committee, and provide guidance to the adviser in making initial liquidity assessments and bucketing determinations as follows: ● · Base implementation fee (up to three Funds in one Fund Family): $[REDACTED] ● · Fee per additional Fund in Fund Family above three: $ $[REDACTED] ● · Fee per sub-adviser: $[REDACTED] The base implementation fee and fee per sub-adviser shall be waived to the extent the adviser or any sub-adviser has been assessed fees for due diligence and an initial site visit as set forth above. The fee per each additional Fund in a Fund Family above three, however, will be assessed as each additional Fund is subsequently added to the Trust.

Ongoing Fees. The following ongoing fees will begin at contract approval and will be assessed on an annual basis. ● Base annual fee for up to three Funds in one Fund Family: $[REDACTED] ● Fee per Fund in Fund Family above three: $ $[REDACTED] ● Fee per sub-adviser: $[REDACTED] These fees shall be assessed for each additional adviser, sub-adviser, or Fund added to the Trust. In the first calendar year, the ongoing fees shall be pro-rated, but shall in no event be less than $[REDACTED] for each Fund Family. Implementation Fees: A one-time initial implementation fee will be assessed to review the adviser’s policies and procedures, coordinate with the administrator, organize the liquidity program administrator committee, and provide guidance to the adviser in making initial liquidity assessments and bucketing determinations as follows: ● Base implementation fee (up to three Funds in one Fund Family): $[REDACTED] ● Fee per additional Fund in Fund Family above three: $ $[REDACTED] ● Fee per sub-adviser: $[REDACTED] The base implementation fee and fee per sub-adviser shall be waived to the extent the adviser or any sub-adviser has been assessed fees for due diligence and an initial site visit as set forth above. The fee per each additional Fund in a Fund Family above three, however, will be assessed as each additional Fund is subsequently added to the Trust.