Common use of Sub-Advisors Clause in Contracts

Sub-Advisors. ▇▇▇▇▇▇▇▇ Advisors may use unaffiliated sub-advisors to help manage all or a portion of Client’s Account. Fees charged by ▇▇▇▇▇▇▇▇ Advisors do not increase when ▇▇▇▇▇▇▇▇ Advisors elects to use sub-advisors. Client may be required to enter into an agreement directly with the unaffiliated sub-advisor. If the sub-advisor is registered as an investment adviser, a complete description of the sub-advisor’s services, fee schedule and account minimums will be disclosed in that sub-advisor’s Form ADV Part 2A or Part 2A Appendix 1 that will be provided to Client at the time any agreement for services is signed and an account is established. ▇▇▇▇▇▇▇▇ Advisors is available to answer questions Client may have regarding any portion of Client’s Account managed by a sub- advisor and will act as the communication conduit between Client and the sub-advisor.

Sub-Advisors. ▇▇▇▇▇▇▇▇ Advisors may use unaffiliated sub-advisors to help manage all or a portion of Client’s Account. Fees charged incurred by ▇▇▇▇▇▇▇▇ Advisors Client do not increase when ▇▇▇▇▇▇▇▇ Advisors elects to use sub-sub- advisors. Client may be required to enter into an agreement directly with the unaffiliated sub-advisor. If the sub-advisor is registered as an investment adviser, a complete description of the sub-advisor’s services, fee schedule and account minimums will be disclosed in that sub-advisor’s Form ADV Part 2A or Part 2A Appendix 1 that will be provided to Client at the time any agreement for services is signed and an account is established. ▇▇▇▇▇▇▇▇ Advisors is available to answer questions Client may have regarding any portion of Client’s Account managed by a sub- sub-advisor and will act as the communication conduit between Client and the sub-advisor.

Sub-Advisors. ▇▇▇▇▇▇▇▇ Advisors may use unaffiliated sub-advisors to help manage all or a portion of Client’s Account. Fees charged by ▇▇▇▇▇▇▇▇ Advisors do not increase when ▇▇▇▇▇▇▇▇ Advisors elects to use sub-advisors. Client may be required to enter into an agreement directly with the unaffiliated sub-advisor. If the sub-advisor is registered as an investment adviser, a complete description of the sub-advisor’s services, fee schedule and account minimums will be disclosed in that sub-advisor’s Form ADV Part 2A or Part 2A Appendix 1 that will be provided to Client at the time any agreement for services is signed and an account is established. ▇▇▇▇▇▇▇▇ Advisors is available to answer questions Client may have regarding any portion of Client’s Account managed by a sub- sub-advisor and will act as the communication conduit between Client and the sub-advisor.