Common use of OUR REMUNERATION Clause in Contracts

OUR REMUNERATION. For pensions business Our remuneration will be by way of a fee and this will be individually negotiated with You. We confirm that You will not incur a liability to pay a fee until We reach agreement with You in this regard. Unless otherwise agreed, the standard terms for payment of fees will be 14 days from receipt of Our invoice, beyond which We reserve the right to charge interest at 3% above the Bank of England base Rate. You will be required to settle the payment of Our fee either on completion of Our work, completion of a stage of work, or at a pre-agreed billing interval (e.g. quarterly) depending on the agreement between Us. We accept cheque or direct transfer payments. We do not accept payment by cash or card. You will be provided with a receipt upon payment. Where We arranged a policy for You prior to 30 December 2012 We may receive commission in relation to this if there is a clear link between the payment and an investment in a retail investment product which was made by You following a personal recommendation made, or a transaction executed, on or before 30 December 2012. For Protection business (life cover, income protection, healthcare, critical illness etc.) We will normally be remunerated by commission. We will provide You with information about the commissions (where receivable) We may receive from the product provider with which the transaction is completed, so far as is relevant to a transaction entered into on Your behalf and as required by FCA rules, prior to the contract being effected. We will confirm what We will charge You in writing before beginning the work. Some types of work may be more difficult to accurately cost in advance due to factors outside of our direct control. • Depending upon the complexity and type of work required We may agree with You an allowance for some variation of cost without having to refer to You, but this will not exceed 10% of the estimated fee. • If material factors should arise during the course of Our work due to circumstances that could not reasonably have been anticipated by Us at outset of Our work, We may need to review Our costs with You. We will refer back to You at the earliest opportunity with an appropriate explanation, and agree with You a revised cost for Our continued work and services. Examples of such circumstances might be where there has been an unexpected change to Our regulatory responsibilities, a change in relevant legislation, or matters that could not reasonably have been anticipated in relation to Your current policy/plan which may give rise to unexpected additional work. Our typical charges are as follows: Market review and recommend Auto Enrolment provider £5,000 Auto Enrolment project £3,500 Legislative updates and ad hoc HR assistance £1,500 per annum Annual Governance Meeting £1,500 per annum One day on site surgeries/presentations £1,500 per full day Preparation for on-site meetings £250 Scheme type Research and report work Transfer administration Category 1: Personal pension plan, stakeholder plan (excluding with-profits) £500 per plan, payable on appointment £250 per plan, payable on completion of transfer Category 2: Defined Contribution Occupational pension scheme* or any plan holding ‘With-profits’ investments (*including s32 buy-out plans and Additional Voluntary Contribution plans). £750 per plan, payable on appointment £250 per plan, payable on completion of transfer We will tell You if You have to pay VAT. We will be entitled to retain all agreed fees in respect of services provided including for contracts that are cancelled after inception. Once the services have commenced, the fee will be deemed to be fully earned. If You buy a financial product, We may agree that You can have Our fee deducted from the product through instalments. Although You would pay nothing to Us up front, that does not mean that Our service is free. You would still pay Us indirectly through deductions from the amount You pay into Your product. These deductions will pay towards settling Our fee. These deductions could reduce the amount left for investment.

OUR REMUNERATION. For pensions business Our remuneration will be by way of a fee and this will be individually negotiated with You. We confirm that You will not incur a liability to pay a fee until We reach agreement with You in this regard. Our fee is considered to be fully earned at this point. Unless otherwise agreed, the standard terms for payment of fees will be 14 days from receipt of Our invoice, beyond which We reserve the right to charge interest at 3% above the Bank of England base Raterate. You will be required to settle the payment of Our fee either on completion of Our work, completion of a stage of work, or at a pre-agreed billing interval (e.g. quarterly) depending on the agreement between Us. We accept cheque or direct transfer payments. We do not accept payment by cash or card. You will be provided with a receipt upon payment. Where We arranged a policy for You prior to 30 December 2012 2012, We may receive commission in relation to this if there is a clear link between the payment and an investment in a retail investment product which was made by You following a personal recommendation made, or a transaction executed, on or before 30 December 2012. For Protection business (life cover, income protection, healthcare, critical illness etc.) We will normally be remunerated by commission. We will provide You with information about the commissions (where receivable) We may receive from the product provider with which the transaction is completed, so far as is relevant to a transaction entered into on Your behalf and as required by FCA rules, prior to the contract being effected. Any commission is considered to be fully earned when Your insurance(s) incepts. We will confirm what We will charge You in writing before beginning the work. Some types of work may be more difficult to accurately cost in advance due to factors outside of our direct control. • Depending upon the complexity and type of work required We may agree with You an allowance for some variation of cost without having to refer to You, but this will not exceed 10% of the estimated fee. • If material factors should arise during the course of Our work due to circumstances that could not reasonably have been anticipated by Us at outset of Our work, We may need to review Our costs with You. We will refer back to You at the earliest opportunity with an appropriate explanation, and agree with You a revised cost for Our continued work and services. Examples of such circumstances might be where there has been an unexpected change to Our regulatory responsibilities, a change in relevant legislation, or matters that could not reasonably have been anticipated in relation to Your current policy/plan which may give rise to unexpected additional work. Our typical charges are as follows: Market review and recommend Auto Enrolment provider £5,000 Auto Enrolment project £3,500 Legislative updates and ad hoc HR assistance £1,500 per annum Annual Governance Meeting £1,500 2,000 per annum One One-day on on-site surgeries/presentations £1,500 per full day Preparation for on-site meetings £250 Scheme type Research and report work Transfer administration Category 1: Personal pension plan, stakeholder plan (excluding with-profits) £500 per plan, payable on appointment £250 per plan, payable on completion of transfer Category 2: Defined Contribution Occupational pension scheme* or any plan holding ‘Withwith-profits’ investments (*including s32 buy-out plans and Additional Voluntary Contribution plans). £750 per plan, payable on appointment £250 per plan, payable on completion of transfer We will tell You if You have to pay VAT. We will be entitled to retain all agreed fees in respect of services provided provided, including for contracts that are cancelled after inception. Once the services have commenced, the fee will be deemed to be fully earned. If You buy a financial product, We may agree that You can have Our fee deducted from the product through instalments. Although You would pay nothing to Us up up-front, that does not mean that Our service is free. You would still pay Us indirectly through deductions from the amount You pay into Your product. These deductions will pay towards settling Our fee. These deductions could reduce the amount left for investment.

OUR REMUNERATION. For pensions business Our remuneration will be by way of a fee and this will be individually negotiated with You. We confirm that You will not incur a liability to pay a fee until We reach agreement with You in this regard. Our fee is considered to be fully earned at this point. Unless otherwise agreed, the standard terms for payment of fees will be 14 days from receipt of Our invoice, beyond which We reserve the right to charge interest at 3% above the Bank of England base Raterate. You will be required to settle the payment of Our fee either on completion of Our work, completion of a stage of work, or at a pre-agreed billing interval (e.g. quarterly) depending on the agreement between Us. We accept cheque or direct transfer payments. We do not accept payment by cash or card. You will be provided with a receipt upon payment. Where We arranged a policy for You prior to 30 December 2012 2012, We may receive commission in relation to this if there is a clear link between the payment and an investment in a retail investment product which was made by You following a personal recommendation made, or a transaction executed, on or before 30 December 2012. For Protection business (life cover, income protection, healthcare, critical illness etc.) We will normally be remunerated by commission. We will provide You with information about the commissions (where receivable) We may receive from the product provider with which the transaction is completed, so far as is relevant to a transaction entered into on Your behalf and as required by FCA rules, prior to the contract being effected. Any commission is considered to be fully earned when Your insurance(s) incepts We will confirm what We will charge You in writing before beginning the work. Some types of work may be more difficult to accurately cost in advance due to factors outside of our direct control. • Depending upon the complexity and type of work required We may agree with You an allowance for some variation of cost without having to refer to You, but this will not exceed 10% of the estimated fee. • If material factors should arise during the course of Our work due to circumstances that could not reasonably have been anticipated by Us at outset of Our work, We may need to review Our costs with You. We will refer back to You at the earliest opportunity with an appropriate explanation, and agree with You a revised cost for Our continued work and services. Examples of such circumstances might be where there has been an unexpected change to Our regulatory responsibilities, a change in relevant legislation, or matters that could not reasonably have been anticipated in relation to Your current policy/plan which may give rise to unexpected additional work. Our typical charges are as follows: Market review and recommend Auto Enrolment provider £5,000 Auto Enrolment project £3,500 Legislative updates and ad hoc HR assistance £1,500 per annum Annual Governance Meeting £1,500 2,000 per annum One One-day on on-site surgeries/presentations £1,500 per full day Preparation for on-site meetings £250 Scheme type Research and report work Transfer administration Category 1: Personal pension plan, stakeholder plan (excluding with-profits) £500 per plan, payable on appointment £250 per plan, payable on completion of transfer Category 2: Defined Contribution Occupational pension scheme* or any plan holding ‘Withwith-profits’ investments (*including s32 buy-out plans and Additional Voluntary Contribution plans). £750 per plan, payable on appointment £250 per plan, payable on completion of transfer We will tell You if You have to pay VAT. We will be entitled to retain all agreed fees in respect of services provided provided, including for contracts that are cancelled after inception. Once the services have commenced, the fee will be deemed to be fully earned. If You buy a financial product, We may agree that You can have Our fee deducted from the product through instalments. Although You would pay nothing to Us up up-front, that does not mean that Our service is free. You would still pay Us indirectly through deductions from the amount You pay into Your product. These deductions will pay towards settling Our fee. These deductions could reduce the amount left for investment.

OUR REMUNERATION. For pensions business business, Our remuneration will be by way of a fee and this will be individually negotiated with You. We confirm that You will not incur a liability to pay a fee until We reach agreement with You in this regard. Our fee is considered to be fully earned at this point. Unless otherwise agreed, the standard terms for payment of fees will be 14 days from receipt of Our invoice, beyond which We reserve the right to charge interest at 3% above the Bank of England base Rate. You will be required to settle the payment of Our fee either on completion of Our work, completion of a stage of work, or at a pre-agreed billing interval (e.g. quarterly) depending on the agreement between Us. We accept cheque or direct transfer payments. We do not accept payment by cash or card. You will be provided with a receipt upon payment. Where We arranged a policy for You prior to 30 December 2012 2012, We may receive commission in relation to this if there is a clear link between the payment and an investment in a retail investment product which was made by You following a personal recommendation made, or a transaction executed, on or before 30 December 2012. For Protection business (life cover, income protection, healthcare, critical illness etc.) We will normally be remunerated by commission. We will provide You with information about the commissions (where receivable) We may receive from the product provider with which the transaction is completed, so far as is relevant to a transaction entered into on Your behalf and as required by FCA rules, prior to the contract being effected. Any commission is considered to be fully earned when Your insurance(s) incepts. We will confirm what We will charge You in writing before beginning the work. Some types of work may be more difficult to accurately cost in advance due to factors outside of our direct control. • Depending upon the complexity and type of work required We may agree with You an allowance for some variation of cost without having to refer to You, but this will not exceed 10% of the estimated fee. • If material factors should arise during the course of Our work due to circumstances that could not reasonably have been anticipated by Us at outset of Our work, We may need to review Our costs with You. We will refer back to You at the earliest opportunity with an appropriate explanation, explanation and agree with You a revised cost for Our continued work and services. Examples of such circumstances might be where there has been an unexpected change to Our regulatory responsibilities, a change in relevant legislation, or matters that could not reasonably have been anticipated in relation to Your current policy/plan which may give rise to unexpected additional work. Our typical charges are as follows: Market review and recommend Auto Enrolment provider £5,000 Auto Enrolment project £5,000 £3,500 Legislative updates and ad hoc HR assistance Annual Governance Meeting One-day on-site surgeries/presentations £1,500 per annum Annual Governance Meeting £1,500 2,000 per annum One day on site surgeries/presentations £1,500 per full day Preparation for on-site meetings £250 Scheme type Research and report work Transfer administration Category 1: Personal pension plan, stakeholder plan (excluding with-profits) £500 per plan, payable on appointment £250 per plan, payable on completion of transfer Category 2: Defined Contribution Occupational pension scheme* or any plan holding ‘Withwith-profits’ investments (*including s32 S32 buy-out plans and Additional Voluntary Contribution plans). £750 per plan, payable on appointment £250 per plan, payable on completion of transfer We will tell You if You have to pay VAT. We will be entitled to retain all agreed fees in respect of services provided including for contracts that are cancelled after inception. Once the services have commenced, the fee will be deemed to be fully earned. If You buy a financial product, We may agree that You can have Our fee deducted from the product through instalments. Although You would pay nothing to Us up front, that does not mean that Our service is free. You would still pay Us indirectly through deductions from the amount You pay into Your product. These deductions will pay towards settling Our fee. These deductions could reduce the amount left for investment.

OUR REMUNERATION. For pensions business business, Our remuneration will be by way of a fee and this will be individually negotiated with You. We confirm that You will not incur a liability to pay a fee until We reach agreement with You in this regard. Our fee is considered to be fully earned at this point. Unless otherwise agreed, the standard terms for payment of fees will be 14 days from receipt of Our invoice, beyond which We reserve the right to charge interest at 3% above the Bank of England base Rate. You will be required to settle the payment of Our fee either on completion of Our work, completion of a stage of work, or at a pre-agreed billing interval (e.g. quarterly) depending on the agreement between Us. We accept cheque or direct transfer payments. We do not accept payment by cash or card. You will be provided with a receipt upon payment. Where We arranged a policy for You prior to 30 December 2012 2012, We may receive commission in relation to this if there is a clear link between the payment and an investment in a retail investment product which was made by You following a personal recommendation made, or a transaction executed, on or before 30 December 2012. For Protection business (life cover, income protection, healthcare, critical illness etc.) We will normally be remunerated by commission. We will provide You with information about the commissions (where receivable) We may receive from the product provider with which the transaction is completed, so far as is relevant to a transaction entered into on Your behalf and as required by FCA rules, prior to the contract being effected. Any commission is considered to be fully earned when Your insurance(s) incepts. We will confirm what We will charge You in writing before beginning the work. Some types of work may be more difficult to accurately cost in advance due to factors outside of our direct control. • Depending upon the complexity and type of work required We may agree with You an allowance for some variation of cost without having to refer to You, but this will not exceed 10% of the estimated fee. • If material factors should arise during the course of Our work due to circumstances that could not reasonably have been anticipated by Us at outset of Our work, We may need to review Our costs with You. We will refer back to You at the earliest opportunity with an appropriate explanation, explanation and agree with You a revised cost for Our continued work and services. Examples of such circumstances might be where there has been an unexpected change to Our regulatory responsibilities, a change in relevant legislation, or matters that could not reasonably have been anticipated in relation to Your current policy/plan which may give rise to unexpected additional work. Our typical charges are as follows: Market review and recommend Auto Enrolment provider £5,000 Auto Enrolment project £3,500 Legislative updates and ad hoc HR assistance £1,500 per annum Annual Governance Meeting £1,500 per annum One day on site surgeries/presentations £1,500 per full day Preparation for on-site meetings £250 Scheme type Research and report work Transfer administration Category 1: Personal pension plan, stakeholder plan (excluding with-profits) £500 per plan, payable on appointment £250 per plan, payable on completion of transfer Category 2: Defined Contribution Occupational pension scheme* or any plan holding ‘With-profits’ investments (*including s32 buy-out plans and Additional Voluntary Contribution plans). £750 per plan, payable on appointment £250 per plan, payable on completion of transfer We will tell You if You have to pay VAT. We will be entitled to retain all agreed fees in respect of services provided including for contracts that are cancelled after inception. Once the services have commenced, the fee will be deemed to be fully earned. If You buy a financial product, We may agree that You can have Our fee deducted from the product through instalments. Although You would pay nothing to Us up front, that does not mean that Our service is free. You would still pay Us indirectly through deductions from the amount You pay into Your product. These deductions will pay towards settling Our fee. These deductions could reduce the amount left for investment.: