Common use of Trading Authorization Clause in Contracts

Trading Authorization. Client hereby grants LPL complete and unlimited discretionary trading authorization with respect to the purchase and sale of mutual funds, ETFs and equity and fixed income securities and the liquidation of previously purchased mutual funds, ETFs and equity and fixed income securities in the Account. If a Portfolio is selected that includes a municipal security Model (“Muni Model”), Client hereby grants the PWP Advisor for that Model complete and unlimited discretionary trading authorization with respect to the purchase and sale of fixed income securities and the liquidation of previously purchased fixed income securities for the portion of the Account invested according to the Muni Model (the “Muni Sleeve”). Although the PWP Advisor has discretion over the Muni Sleeve, LPL has ultimate discretion over the entire Account and reserves the right to exercise discretion over securities in the Muni Sleeve (e.g., to rebalance the Account or to liquidate securities for withdrawal requests). Client hereby appoints LPL, Advisor and the PWP Advisor (in the case of a Muni Model) as agent and attorney-in-fact with respect to such trading authorization. Client authorizes LPL to appoint from time to time other PWP Advisors to take discretion over a portion of the Account managed according to that PWP Advisor’s Model. Client may also provide LPL with instructions to not purchase certain equity securities, specific industries, specific sectors, and certain pre-defined categories (e.g. “sin” stocks). In the event that client restrictions prevent the investment in certain securities otherwise recommended by a PWP Advisor, assets will be invested pro-rata across the remaining securities in the Model. Client understands that such restrictions will not apply to any mutual funds, ETFs or fixed-income securities that may be held in the Account. Client also understands that restrictions placed on the Account may affect the performance of the Account and that the OPM may choose not to accept an account with restrictions that are inconsistent with the investments chosen by the OPM or as recommended by the PWP Advisor. In order to permit trading in a tax-efficient manner, Client further expressly grants LPL, Advisor, or, in certain circumstances, the PWP Advisor the authority to select specific tax lots when liquidating securities within the Account. Other than as described in Xxxxxxx 00, XXX and Advisor are not authorized to withdraw or transfer any money, securities, or property either in the name of Client or otherwise. Client understands that PWP Advisors, LPL, Advisor and/or their affiliates may perform advisory and/or brokerage services for various other clients, and that each of the parties may give advice or take actions for those clients that differ from the advice given or the timing or the nature of any action taken for the Account. In addition, each of the parties may, but is not obligated to, purchase or sell or recommend for purchase or sale any security which each of the parties or any of their affiliates may purchase or sell for their own accounts or the account of any other client. Client also understands that cash awaiting investment or reinvestment will be invested in a money market mutual fund, ICA or DCA at the discretion of LPL or Advisor and that certain fees and expenses shall be incurred in connection with the money market fund, ICA or DCA. Securities held in the Account, which are in “street name” or are being held by a securities depository, are commingled with the same securities being held for other clients of LPL. Client ownership of these securities is reflected in LPL’s records. Client has the right at any time to require delivery of any such securities which are fully paid for. The terms of many bonds allow the issuer to partially redeem or “call” the issue prior to the maturity date. Certain preferred stocks are also subject to being called by the issuer. Whenever any such security being held by LPL is partially “called”, LPL will determine, through a random selection lottery process as prescribed by the Depository Trust Company (“DTC”), the ownership of the securities to be submitted for redemption without regard to unsettled sales. In the event that such securities owned by Client are selected and redeemed, the Account will be credited with the proceeds. Should Client wish not to be subject to this random selection process, Client must instruct LPL to register and deliver the securities to Client. Delivery will be effected provided that Client’s securities are unencumbered or have not already been called prior to the receipt of Client’s instructions. If Client takes delivery of the securities, they are still subject to call by the issuer and they will no longer be considered assets in the Account for management purposes. The probability of one of Client’s securities being called is the same whether they are held by Client or by LPL for Client. Please refer to the XXX.xxx Disclosure webpage for information regarding LPL’s callable securities allocation process. Consistent with the overriding principle of best execution, LPL directs orders in equity securities to exchanges and market makers based on an analysis of their ability to provide rapid and quality executions. In an effort to obtain best execution for equities, LPL may consider several factors, including price improvement opportunities (executions at prices superior to the then prevailing inside market on OTC or national best bid or offer for listed securities). In no event will LPL be obligated to effect any transaction for Client which it believes would violate any applicable state or federal law, rule or regulation, or the rules or regulations of any regulatory or self-regulatory body. This trading authorization is a continuing one and shall remain in full force and effect and be relied upon until LPL, PWP Advisor and Advisor have received a copy of a written termination notice, which writing will be deemed to terminate this Agreement effective upon receipt.

Trading Authorization. Client hereby grants LPL and IAR complete and unlimited discretionary trading authorization with respect to the purchase and sale of mutual funds, ETFs and equity and fixed income securities and the liquidation of previously purchased mutual funds, ETFs and equity and fixed income securities in the Account. If a Portfolio is selected that includes a municipal security Model (“Muni Model”), Client hereby grants the PWP Advisor for that Model complete and unlimited discretionary trading authorization with respect to the purchase and sale of fixed income securities and the liquidation of previously purchased fixed income securities for the portion of the Account invested according to the Muni Model (the “Muni Sleeve”). Although the PWP Advisor has discretion over the Muni Sleeve, LPL has ultimate discretion over the entire Account and reserves the right to exercise discretion over securities in the Muni Sleeve (e.g., to rebalance the Account or to liquidate securities for withdrawal requests). Client hereby appoints LPL, Advisor IAR and the PWP Advisor (in the case of a Muni Model) as agent and attorney-in-fact with respect to such trading authorization. Client authorizes LPL to appoint from time to time other PWP Advisors to take discretion over a portion of the Account managed according to that PWP Advisor’s Model. Client may also provide LPL with instructions to not purchase certain equity securities, specific industries, specific sectors, and certain pre-defined categories (e.g. “sin” stocks). In the event that client restrictions prevent the investment in certain securities otherwise recommended by a PWP Advisor, assets will be invested pro-rata across the remaining securities in the Model. Client understands that such restrictions will not apply to any mutual funds, ETFs or fixed-income securities that may be held in the Account. Client also understands that restrictions placed on the Account may affect the performance of the Account and that the OPM may choose not to accept an account with restrictions that are inconsistent with the investments chosen by the OPM or as recommended by the PWP Advisor. In order to permit trading in a tax-efficient manner, Client further expressly grants LPL, Advisor, or, IAR or in certain circumstances, the PWP Advisor Advisor, the authority to select specific tax lots when liquidating securities within the Client’s Account. Other than as described in Xxxxxxx 00Sections 16 and 17, XXX LPL and Advisor IAR are not authorized to withdraw or transfer any money, securities, or property either in the name of Client or otherwise. Client understands that PWP Advisors, LPL, Advisor and/or IAR and their affiliates may perform advisory and/or brokerage services for various other clients, and that each of the parties may give advice or take actions for those clients that differ from the advice given or the timing or the nature of any action taken for the Account. In addition, each of the parties may, but is not obligated to, purchase or sell or recommend for purchase or sale any security which each of the parties or any of their affiliates may purchase or sell for their own accounts or the account of any other client. Client also understands that cash awaiting investment or reinvestment will be invested in a money market mutual fund, ICA insured cash account (“ICA”) or DCA at the discretion of LPL or Advisor deposit cash account (‘DCA”) and that certain fees and expenses shall be incurred in connection with the money market fund, ICA or DCA. Client authorizes LPL in its discretion to aggregate purchases and sales of securities for the Account with purchases and sales of securities of the same issuer for other clients. When transactions are so aggregated, the actual prices applicable to the aggregated transactions will be averaged, and the Account will be deemed to have purchased or sold its proportionate shares of the securities involved at the average price obtained. For partially filled orders, the OPM will generally allocate trades pro- rata or on some other basis consistent with the goal of treating all clients equitably over time. Securities held in the Account, Account which are in “"street name” " or are being held by a securities depository, depository are commingled with the same securities being held for other clients of LPL. Client ownership of these securities is reflected in LPL’s records. Client has the right at any time to require delivery of any such securities which are fully paid for. The terms of many bonds allow the issuer to partially redeem or “"call” " the issue prior to the maturity date. Certain preferred stocks are also subject to being called by the issuer. Whenever any such security being held by LPL is partially “"called”", LPL will determine, through a random selection lottery process as prescribed by the Depository Trust Company (“DTC”), the ownership of the securities to be submitted for redemption without regard to unsettled sales. In the event that such securities owned by Client are selected and redeemed, the Account will be credited with the proceeds. Should Client wish not to be subject to this random selection process, Client must instruct LPL to register and deliver the securities to Client. Delivery will be effected provided that Client’s securities are unencumbered or have not already been called prior to the receipt of Client’s instructions. If Client takes delivery of the securities, they are still subject to call by the issuer and they will no longer be considered assets in the Account for management purposes. The probability of one of Client’s securities being called is the same whether they are held by Client or by LPL for Client. Please refer to the XXX.xxx Disclosure webpage for information regarding LPL’s callable securities allocation process. Consistent with the overriding principle of best executionexecution for equities, LPL directs orders in equity securities to exchanges and market makers based on an analysis of their ability to provide rapid and quality executions. In an effort to obtain best execution for equitiesexecution, LPL may consider several factors, including price improvement opportunities (executions at prices superior to the then prevailing inside market on OTC or national best bid or offer for listed securities). In no event will LPL be obligated to effect any transaction for Client which it believes would violate any applicable state or federal law, rule or regulation, or the rules or regulations of any regulatory or self-regulatory body. This trading authorization is a continuing one and shall remain in full force and effect and be relied upon until LPL, PWP Advisor and Advisor have received a copy of a written termination notice, which writing will be deemed to terminate this Agreement effective upon receipt.

Trading Authorization. Client hereby grants LPL and IAR complete and unlimited discretionary trading authorization with respect to the purchase and sale of mutual funds, ETFs and equity and fixed income securities and the liquidation of previously purchased mutual funds, ETFs and equity and fixed income securities in the Account. If a Portfolio is selected that includes a municipal security Model (“Muni Model”), Client hereby grants the PWP Advisor for that Model complete and unlimited discretionary trading authorization with respect to the purchase and sale of fixed income securities and the liquidation of previously purchased fixed income securities for the portion of the Account invested according to the Muni Model (the “Muni Sleeve”). Although the PWP Advisor has discretion over the Muni Sleeve, LPL has ultimate discretion over the entire Account and reserves the right to exercise discretion over securities in the Muni Sleeve (e.g., to rebalance the Account or to liquidate securities for withdrawal requests). Client hereby appoints LPL, Advisor IAR and the PWP Advisor (in the case of a Muni Model) as agent and attorney-in-fact with respect to such trading authorization. Client authorizes LPL to appoint from time to time other PWP Advisors to take discretion over a portion of the Account managed according to that PWP Advisor’s Model. Client may also provide LPL with instructions to not purchase certain equity securities, specific industries, specific sectors, and certain pre-defined categories (e.g. “sin” stocks). In the event that client restrictions prevent the investment in certain securities otherwise recommended by a PWP Advisor, assets will be invested pro-rata across the remaining securities in the Model. Client understands that such restrictions will not apply to any mutual funds, ETFs or fixed-income securities that may be held in the Account. Client also understands that restrictions placed on the Account may affect the performance of the Account and that the OPM may choose not to accept an account with restrictions that are inconsistent with the investments chosen by the OPM or as recommended by the PWP Advisor. In order to permit trading in a tax-efficient manner, Client further expressly grants LPL, Advisor, or, IAR or in certain circumstances, the PWP Advisor Advisor, the authority to select specific tax lots when liquidating securities within the Client’s Account. Other than as described in Xxxxxxx 00Section 17, XXX LPL and Advisor IAR are not authorized to withdraw or transfer any money, securities, or property either in the name of Client or otherwise. Client understands that PWP Advisors, LPL, Advisor and/or IAR and their affiliates may perform advisory and/or brokerage services for various other clients, and that each of the parties may give advice or take actions for those clients that differ from the advice given or the timing or the nature of any action taken for the Account. In addition, each of the parties may, but is not obligated to, purchase or sell or recommend for purchase or sale any security which each of the parties or any of their affiliates may purchase or sell for their own accounts or the account of any other client. Client also understands that cash awaiting investment or reinvestment will be invested in a money market mutual fund, fund or ICA or DCA at the discretion of LPL or Advisor and that certain fees and expenses shall be incurred in connection with the money market fundfund or ICA. Client authorizes LPL in its discretion to aggregate purchases and sales of securities for the Account with purchases and sales of securities of the same issuer for other clients. When transactions are so aggregated, ICA the actual prices applicable to the aggregated transactions will be averaged, and the Account will be deemed to have purchased or DCAsold its proportionate shares of the securities involved at the average price obtained. For partially filled orders, the OPM will generally allocate trades pro-rata or on some other basis consistent with the goal of treating all clients equitably over time. Securities held in the Account, Account which are in “"street name” " or are being held by a securities depository, depository are commingled with the same securities being held for other clients of LPL. Client ownership of these securities is reflected in LPL’s records. Client has the right at any time to require delivery of any such securities which are fully paid for. The terms of many bonds allow the issuer to partially redeem or “"call” " the issue prior to the maturity date. Certain preferred stocks are also subject to being called by the issuer. Whenever any such security being held by LPL is partially “"called”", LPL will determine, through a random selection lottery process as prescribed by the Depository Trust Company (“DTC”), the ownership of the securities to be submitted for redemption without regard to unsettled sales. In the event that such securities owned by Client are selected and redeemed, the Account will be credited with the proceeds. Should Client wish not to be subject to this random selection process, Client must instruct LPL to register and deliver the securities to Client. Delivery will be effected provided that Client’s securities are unencumbered or have not already been called prior to the receipt of Client’s instructions. If Client takes delivery of the securities, they are still subject to call by the issuer and they will no longer be considered assets in the Account for management purposes. The probability of one of Client’s securities being called is the same whether they are held by Client or by LPL for Client. Please refer to the XXX.xxx Disclosure webpage for information regarding LPL’s callable securities allocation process. Consistent with the overriding principle of best execution, LPL directs orders in equity securities to exchanges and market makers based on an analysis of their ability to provide rapid and quality executions. In an effort to obtain best execution for equitiesexecution, LPL may consider several factors, including price improvement opportunities (executions at prices superior to the then prevailing inside market on OTC or national best bid or offer for listed securities), whether it will receive cash or non-cash payments for routing order flow and reciprocal business arrangements. In no event will LPL be obligated to effect any transaction for Client which it believes would violate any applicable state or federal law, rule or regulation, or the rules or regulations of any regulatory or self-regulatory body. This trading authorization is a continuing one and shall remain in full force and effect and be relied upon until LPL, PWP Advisor LPL and Advisor IAR have received a copy of a written termination notice, which writing will be deemed to terminate this Agreement effective upon receipt.

Trading Authorization. Client hereby grants LPL complete and unlimited discretionary trading authorization with respect to the purchase and sale of mutual fundsProgram Securities in the Account, ETFs and equity and fixed income securities and the liquidation sale of previously purchased mutual fundssecurities, ETFs and equity and fixed income securities in the Account. If a Portfolio is selected that includes a municipal security Model (“Muni Model”), Client hereby grants the PWP Advisor for that Model complete and unlimited discretionary trading authorization with respect to the purchase and sale of fixed income securities and the liquidation investment of previously purchased fixed income securities for the portion of the Account invested according to the Muni Model (the “Muni Sleeve”). Although the PWP Advisor has discretion over the Muni Sleevecash in money market funds or ICA or DCA, LPL has ultimate discretion over the entire Account and reserves the right to exercise discretion over securities in the Muni Sleeve (e.g., to rebalance the Account or to liquidate securities for withdrawal requests)as applicable. Client hereby appoints LPL, Advisor LPL as Client’s agents and the PWP Advisor (in the case of a Muni Model) as agent and attorneyattorneys-in-fact with respect to such this trading authorization. Client also authorizes Portfolio Strategist to provide the Model Portfolio(s) to LPL and authorizes LPL to make the decisions on how to implement the Model Portfolio, including allocation tolerances within the Model Portfolio in which Program assets will be invested, and authorizes LPL to implement rebalancing. Client hereby authorizes LPL to determine which Model Portfolio should be selected for the Account. Client authorizes LPL to appoint perform tax harvesting for the Account as determined by LPL in its sole discretion. LPL will perform tax harvesting for the Account based on its guidelines for the Program, which will provide that tax loss harvesting for the Program will occur on a systematic and periodic basis. LPL will perform tax harvesting for the Account only when total account unrealized losses and individual positions available losses each exceed the thresholds set by LPL for the Program. LPL will seek to re-invest proceeds from time to time other PWP Advisors to take discretion over tax loss harvesting into a portion substitute Program Security for the 30-day period from the initial sale of the Account managed according to that PWP Advisor’s Model. Client may also provide LPL with instructions to not purchase certain equity securities, specific industries, specific sectors, and certain pre-defined categories (e.g. “sin” stocks)harvested security. In certain instances when harvest proceeds cannot be re-invested into a substitute Program Security, the event that client restrictions prevent the investment in certain securities otherwise recommended by a PWP Advisor, assets proceeds will be invested pro-rata across the remaining securities in the Model. Client understands that such restrictions will not apply to any mutual funds, ETFs or fixed-income securities that may be held in cash for the Account. Client also understands that restrictions placed on the Account may affect the performance duration of the Account and that 30-day period from the OPM may choose not to accept an account with restrictions that are inconsistent with initial sale of the investments chosen by the OPM or as recommended by the PWP Advisorharvested security. In order to permit trading implementing the Investment Allocation Track or processing Client requests, including withdrawal requests, LPL may in a taxits sole discretion determine the securities for liquidation based in-efficient manner, Client further expressly grants LPL, Advisor, or, in certain circumstances, the PWP Advisor the authority to select specific tax lots when liquidating securities within the Accountpart on avoiding short-term gain realization. Other than as described in Xxxxxxx 00Sections 6 and 17, XXX LPL and Advisor IAR are not authorized to withdraw or transfer any money, securities, securities or property either in the name of Client or otherwise. Client understands that PWP AdvisorsIAR is prohibited from taking personal possession of Client securities, stock powers, monies or any other personal or real property in which Client may have an interest. In addition, Client understands that IAR may not lend to or borrow from Client any monies or securities. Client further agrees not to enter into any other business relationship with IAR including, but not limited to, helping to capitalize or finance any business of IAR. Client understands that LPL, Advisor and/or IAR and their affiliates may perform advisory and/or brokerage services for various other clients, and that each of the parties they may give advice or take actions for those clients that differ from the advice given or the timing or the nature of any action taken for the Account. In addition, each of the parties may, but is are not obligated to, purchase or sell or recommend for purchase or sale any security which each of the parties or any of their affiliates may purchase or sell for their own accounts or the account of any other client. Client also understands that cash awaiting investment or reinvestment balances in the Account will be invested in a money market mutual fund, funds or ICA or DCA DCA, as applicable, at the discretion of LPL or Advisor and that certain fees and expenses shall be incurred in connection with the money market fund, funds or ICA or DCA. Securities held in the Account, which are in “street name” or are being held by a securities depository, are commingled with the same securities being held for other clients of LPL. Client ownership of these securities is reflected in LPL’s records. Client has the right at any time to require delivery of any such securities which are fully paid for. The terms of many bonds allow the issuer to partially redeem or “call” the issue prior addition to the maturity date. Certain preferred stocks are also subject to being called by the issuer. Whenever any such security being held by LPL is partially “called”, LPL will determine, through a random selection lottery process Account Fee (as prescribed by the Depository Trust Company (“DTC”), the ownership of the securities to be submitted for redemption without regard to unsettled sales. In the event that such securities owned by Client are selected and redeemed, the Account will be credited with the proceeds. Should Client wish not to be subject to this random selection process, Client must instruct LPL to register and deliver the securities to Client. Delivery will be effected provided that Client’s securities are unencumbered or have not already been called prior to the receipt of Client’s instructions. If Client takes delivery of the securities, they are still subject to call by the issuer and they will no longer be considered assets defined in the Account for management purposes. The probability of one of Client’s securities being called is the same whether they are held by Client or by LPL for Client. Please refer to the XXX.xxx Disclosure webpage for information regarding LPL’s callable securities allocation process. Consistent with the overriding principle of best execution, LPL directs orders in equity securities to exchanges and market makers based on an analysis of their ability to provide rapid and quality executions. In an effort to obtain best execution for equities, LPL may consider several factors, including price improvement opportunities (executions at prices superior to the then prevailing inside market on OTC or national best bid or offer for listed securitiesSection 6). In no event will LPL be obligated to effect any transaction for Client which it LPL believes would violate any applicable state or federal law, rule or regulation, or the rules or regulations of any regulatory or self-regulatory body. This trading authorization is a continuing one and shall remain in full force and effect and be relied upon until LPL, PWP Advisor LPL and Advisor IAR have received a copy of a written termination notice, which writing will be deemed notice delivered in accordance with Section 18. LPL and IAR also retain the right to voluntarily terminate this Agreement effective upon receiptas discussed in Section 9.

Trading Authorization. Client hereby grants LPL complete and unlimited discretionary trading authorization with respect to the purchase and sale of mutual fundsProgram Securities in the Account, ETFs and equity and fixed income the sale of previously purchased securities and the liquidation investment of previously purchased mutual fundscash in money market funds or ICA or DCA, ETFs and equity and fixed income securities in the Account. If a Portfolio is selected that includes a municipal security Model (“Muni Model”), Client hereby grants the PWP Advisor for that Model complete and unlimited discretionary trading authorization with respect to the purchase and sale of fixed income securities and the liquidation of previously purchased fixed income securities for the portion of the Account invested according to the Muni Model (the “Muni Sleeve”). Although the PWP Advisor has discretion over the Muni Sleeve, LPL has ultimate discretion over the entire Account and reserves the right to exercise discretion over securities in the Muni Sleeve (e.g., to rebalance the Account or to liquidate securities for withdrawal requests)as applicable. Client hereby appoints LPL, Advisor LPL as Client’s agents and the PWP Advisor (in the case of a Muni Model) as agent and attorneyattorneys-in-fact with respect to such this trading authorization. Client also authorizes Portfolio Strategist to provide the Model Portfolio(s) to LPL and authorizes LPL to make the decisions on how to implement the Model Portfolio, including allocation tolerances within the Model Portfolio in which Program assets will be invested, and authorizes LPL to implement rebalancing. Client hereby authorizes LPL to determine which Model Portfolio should be selected for the Account. Client authorizes LPL to appoint perform tax harvesting for the Account as determined by LPL in its sole discretion. LPL will perform tax harvesting for the Account based on its guidelines for the Program, which will provide that tax loss harvesting for the Program will occur on a systematic and periodic basis. LPL will perform tax harvesting for the Account only when total account unrealized losses and individual positions available losses each exceed the thresholds set by LPL for the Program. LPL will seek to re-invest proceeds from time to time other PWP Advisors to take discretion over tax loss harvesting into a portion substitute Program Security for the 30-day period from the initial sale of the Account managed according to that PWP Advisor’s Model. Client may also provide LPL with instructions to not purchase certain equity securities, specific industries, specific sectors, and certain pre-defined categories (e.g. “sin” stocks)harvested security. In certain instances when harvest proceeds cannot be re-invested into a substitute Program Security, the event that client restrictions prevent the investment in certain securities otherwise recommended by a PWP Advisor, assets proceeds will be invested pro-rata across the remaining securities in the Model. Client understands that such restrictions will not apply to any mutual funds, ETFs or fixed-income securities that may be held in cash for the Account. Client also understands that restrictions placed on the Account may affect the performance duration of the Account and that 30-day period from the OPM may choose not to accept an account with restrictions that are inconsistent with initial sale of the investments chosen by the OPM or as recommended by the PWP Advisorharvested security. In order to permit trading implementing the Investment Allocation Track or processing Client requests, including withdrawal requests, LPL may in a taxits sole discretion determine the securities for liquidation based in-efficient manner, Client further expressly grants LPL, Advisor, or, in certain circumstances, the PWP Advisor the authority to select specific tax lots when liquidating securities within the Accountpart on avoiding short-term gain realization. Other than as described in Xxxxxxx 00Sections 6 and 17, XXX LPL and Advisor are not authorized to withdraw or transfer any money, securities, securities or property either in the name of Client or otherwise. Client understands that PWP Advisors, LPL, Advisor and/or and their affiliates may perform advisory and/or brokerage services for various other clients, and that each of the parties they may give advice or take actions for those clients that differ from the advice given or the timing or the nature of any action taken for the Account. In addition, each of the parties may, but is are not obligated to, purchase or sell or recommend for purchase or sale any security which each of the parties or any of their affiliates may purchase or sell for their own accounts or the account of any other client. Client also understands that cash awaiting investment or reinvestment balances in the Account will be invested in a money market mutual fund, funds or ICA or DCA DCA, as applicable, at the discretion of LPL or Advisor and that certain fees and expenses shall be incurred in connection with the money market fund, funds or ICA or DCA. Securities held in the Account, which are in “street name” or are being held by a securities depository, are commingled with the same securities being held for other clients of LPL. Client ownership of these securities is reflected in LPL’s records. Client has the right at any time to require delivery of any such securities which are fully paid for. The terms of many bonds allow the issuer to partially redeem or “call” the issue prior addition to the maturity date. Certain preferred stocks are also subject to being called by the issuer. Whenever any such security being held by LPL is partially “called”, LPL will determine, through a random selection lottery process Account Fee (as prescribed by the Depository Trust Company (“DTC”), the ownership of the securities to be submitted for redemption without regard to unsettled sales. In the event that such securities owned by Client are selected and redeemed, the Account will be credited with the proceeds. Should Client wish not to be subject to this random selection process, Client must instruct LPL to register and deliver the securities to Client. Delivery will be effected provided that Client’s securities are unencumbered or have not already been called prior to the receipt of Client’s instructions. If Client takes delivery of the securities, they are still subject to call by the issuer and they will no longer be considered assets defined in the Account for management purposes. The probability of one of Client’s securities being called is the same whether they are held by Client or by LPL for Client. Please refer to the XXX.xxx Disclosure webpage for information regarding LPL’s callable securities allocation process. Consistent with the overriding principle of best execution, LPL directs orders in equity securities to exchanges and market makers based on an analysis of their ability to provide rapid and quality executions. In an effort to obtain best execution for equities, LPL may consider several factors, including price improvement opportunities (executions at prices superior to the then prevailing inside market on OTC or national best bid or offer for listed securitiesSection 6). In no event will LPL be obligated to effect any transaction for Client which it LPL believes would violate any applicable state or federal law, rule or regulation, or the rules or regulations of any regulatory or self-regulatory body. This trading authorization is a continuing one and shall remain in full force and effect and be relied upon until LPL, PWP Advisor LPL and Advisor have received a copy of a written termination notice, which writing will be deemed notice delivered in accordance with Section 18. LPL and Advisor also retain the right to voluntarily terminate this Agreement effective upon receiptas discussed in Section 9.

Trading Authorization. Client hereby grants LPL and IAR complete and unlimited discretionary trading authorization with respect to the purchase and sale of mutual funds, ETFs and equity and fixed income securities and the liquidation of previously purchased mutual funds, ETFs and equity and fixed income securities in the Account. If a Portfolio is selected that includes a municipal security Model (“Muni Model”), Client hereby grants the PWP Advisor for that Model complete and unlimited discretionary trading authorization with respect to the purchase and sale of fixed income securities and the liquidation of previously purchased fixed income securities for the portion of the Account invested according to the Muni Model (the “Muni Sleeve”). Although the PWP Advisor has discretion over the Muni Sleeve, LPL has ultimate discretion over the entire Account and reserves the right to exercise discretion over securities in the Muni Sleeve (e.g., to rebalance the Account or to liquidate securities for withdrawal requests). Client hereby appoints LPL, Advisor IAR and the PWP Advisor (in the case of a Muni Model) as agent and attorney-in-fact with respect to such trading authorization. Client authorizes LPL to appoint from time to time other PWP Advisors to take discretion over a portion of the Account managed according to that PWP Advisor’s Model. Client may also provide LPL with written instructions to not purchase certain equity securities, specific industries, specific sectors, and certain pre-defined categories (e.g. “sin” stocks). In the event that client restrictions prevent the investment in certain securities otherwise recommended by a PWP Advisor, assets will be invested pro-rata across the remaining securities in the Model. Client understands that such restrictions will not apply to any mutual funds, ETFs or fixed-income securities that may be held in the Account. Client also understands that restrictions placed on the Account may affect the performance of the Account and that the OPM may choose not to accept an account with restrictions that are inconsistent with the investments chosen by the OPM or as recommended by the PWP Advisor. In order to permit trading in a tax-efficient manner, Client further expressly grants LPL, Advisor, or, IAR or in certain circumstances, the PWP Advisor Advisor, the authority to select specific tax lots when liquidating securities within the Client’s Account. Other than as described in Xxxxxxx 00Sections 16 and 17, XXX LPL and Advisor IAR are not authorized to withdraw or transfer any money, securities, or property either in the name of Client or otherwise. Client understands that PWP Advisors, LPL, Advisor and/or IAR and their affiliates may perform advisory and/or brokerage services for various other clients, and that each of the parties may give advice or take actions for those clients that differ from the advice given or the timing or the nature of any action taken for the Account. In addition, each of the parties may, but is not obligated to, purchase or sell or recommend for purchase or sale any security which each of the parties or any of their affiliates may purchase or sell for their own accounts or the account of any other client. Client also understands that cash awaiting investment or reinvestment will be invested in a money market mutual fund, ICA insured cash account (“ICA”) or DCA at the discretion of LPL or Advisor deposit cash account (‘DCA”) and that certain fees and expenses shall be incurred in connection with the money market fund, ICA or DCA. Client authorizes LPL in its discretion to aggregate purchases and sales of securities for the Account with purchases and sales of securities of the same issuer for other clients. When transactions are so aggregated, the actual prices applicable to the aggregated transactions will be averaged, and the Account will be deemed to have purchased or sold its proportionate shares of the securities involved at the average price obtained. For partially filled orders, the OPM will generally allocate trades pro- rata or on some other basis consistent with the goal of treating all clients equitably over time. Securities held in the Account, Account which are in “"street name” " or are being held by a securities depository, depository are commingled with the same securities being held for other clients of LPL. Client ownership of these securities is reflected in LPL’s records. Client has the right at any time to require delivery of any such securities which are fully paid for. The terms of many bonds allow the issuer to partially redeem or “"call” " the issue prior to the maturity date. Certain preferred stocks are also subject to being called by the issuer. Whenever any such security being held by LPL is partially “"called”", LPL will determine, through a random selection lottery process as prescribed by the Depository Trust Company (“DTC”), the ownership of the securities to be submitted for redemption without regard to unsettled sales. In the event that such securities owned by Client are selected and redeemed, the Account will be credited with the proceeds. Should Client wish not to be subject to this random selection process, Client must instruct LPL to register and deliver the securities to Client. Delivery will be effected provided that Client’s securities are unencumbered or have not already been called prior to the receipt of Client’s instructions. If Client takes delivery of the securities, they are still subject to call by the issuer and they will no longer be considered assets in the Account for management purposes. The probability of one of Client’s securities being called is the same whether they are held by Client or by LPL for Client. Please refer to the XXX.xxx Disclosure webpage for information regarding LPL’s callable securities allocation process. Consistent with the overriding principle of best executionexecution for equities, LPL directs orders in equity securities to exchanges and market makers based on an analysis of their ability to provide rapid and quality executions. In an effort to obtain best execution for equitiesexecution, LPL may consider several factors, including price improvement opportunities (executions at prices superior to the then prevailing inside market on OTC or national best bid or offer for listed securities). In no event will LPL be obligated to effect any transaction for Client which it believes would violate any applicable state or federal law, rule or regulation, or the rules or regulations of any regulatory or self-regulatory body. This trading authorization is a continuing one and shall remain in full force and effect and be relied upon until LPL, PWP Advisor and Advisor have received a copy of a written termination notice, which writing will be deemed to terminate this Agreement effective upon receipt.

Trading Authorization. Client hereby grants LPL complete and unlimited discretionary trading authorization with respect to the purchase and sale of mutual funds, ETFs and equity and fixed income securities and the liquidation of previously purchased mutual funds, ETFs and equity and fixed income securities in the Account. If a Portfolio is selected that includes a municipal security Model (“Muni Model”), Client hereby grants the PWP Advisor for that Model complete and unlimited discretionary trading authorization with respect to the purchase and sale of fixed income securities and the liquidation of previously purchased fixed income securities for the portion of the Account invested according to the Muni Model (the “Muni Sleeve”). Although the PWP Advisor has discretion over the Muni Sleeve, LPL has ultimate discretion over the entire Account and reserves the right to exercise discretion over securities in the Muni Sleeve (e.g., to rebalance the Account or to liquidate securities for withdrawal requests). Client hereby appoints LPL, Advisor and the PWP Advisor (in the case of a Muni Model) as agent and attorney-in-fact with respect to such trading authorization. Client authorizes LPL to appoint from time to time other PWP Advisors to take discretion over a portion of the Account managed according to that PWP Advisor’s Model. Client may also provide LPL with written instructions to not purchase certain equity securities, specific industries, specific sectors, and certain pre-defined categories (e.g. “sin” stocks). In the event that client restrictions prevent the investment in certain securities otherwise recommended by a PWP Advisor, assets will be invested pro-rata across the remaining securities in the Model. Client understands that such restrictions will not apply to any mutual funds, ETFs or fixed-income securities that may be held in the Account. Client also understands that restrictions placed on the Account may affect the performance of the Account and that the OPM may choose not to accept an account with restrictions that are inconsistent with the investments chosen by the OPM or as recommended by the PWP Advisor. In order to permit trading in a tax-efficient manner, Client further expressly grants LPL, Advisor, or, in certain circumstances, the PWP Advisor the authority to select specific tax lots when liquidating securities within the Account. Other than as described in Xxxxxxx 00, XXX and Advisor are not authorized to withdraw or transfer any money, securities, or property either in the name of Client or otherwise. Client understands that PWP Advisors, LPL, Advisor and/or their affiliates may perform advisory and/or brokerage services for various other clients, and that each of the parties may give advice or take actions for those clients that differ from the advice given or the timing or the nature of any action taken for the Account. In addition, each of the parties may, but is not obligated to, purchase or sell or recommend for purchase or sale any security which each of the parties or any of their affiliates may purchase or sell for their own accounts or the account of any other client. Client also understands that cash awaiting investment or reinvestment will be invested in a money market mutual fund, ICA or DCA at the discretion of LPL or Advisor and that certain fees and expenses shall be incurred in connection with the money market fund, ICA or DCA. Client authorizes LPL in its discretion to aggregate purchases and sales of securities for the Account with purchases and sales of securities of the same issuer for other clients. When transactions are so aggregated, the actual prices applicable to the aggregated transactions will be averaged, and the Account will be deemed to have purchased or sold its proportionate shares of the securities involved at the average price obtained. For partially filled orders, the OPM will generally allocate trades pro-rata or on some other basis consistent with the goal of treating all clients equitably over time. Securities held in the Account, which are in “street name” or are being held by a securities depository, are commingled with the same securities being held for other clients of LPL. Client ownership of these securities is reflected in LPL’s records. Client has the right at any time to require delivery of any such securities which are fully paid for. The terms of many bonds allow the issuer to partially redeem or “call” the issue prior to the maturity date. Certain preferred stocks are also subject to being called by the issuer. Whenever any such security being held by LPL is partially “called”, LPL will determine, through a random selection lottery process as prescribed by the Depository Trust Company (“DTC”), the ownership of the securities to be submitted for redemption without regard to unsettled sales. In the event that such securities owned by Client are selected and redeemed, the Account will be credited with the proceeds. Should Client wish not to be subject to this random selection process, Client must instruct LPL to register and deliver the securities to Client. Delivery will be effected provided that Client’s securities are unencumbered or have not already been called prior to the receipt of Client’s instructions. If Client takes delivery of the securities, they are still subject to call by the issuer and they will no longer be considered assets in the Account for management purposes. The probability of one of Client’s securities being called is the same whether they are held by Client or by LPL for Client. Please refer to the XXX.xxx Disclosure webpage “Marketing & Trading Disclosures” section on xxx.xxx/xxxxxxxxxxx.xxxx for information regarding LPL’s callable securities allocation processCall Securities Lottery Disclosure. In addition, a detailed description of the random selection procedure is available upon request. Consistent with the overriding principle of best execution, LPL directs orders in equity securities to exchanges and market makers based on an analysis of their ability to provide rapid and quality executions. In an effort to obtain best execution for equities, LPL may consider several factors, including price improvement opportunities (executions at prices superior to the then prevailing inside market on OTC or national best bid or offer for listed securities). In no event will LPL be obligated to effect any transaction for Client which it believes would violate any applicable state or federal law, rule or regulation, or the rules or regulations of any regulatory or self-regulatory body. This trading authorization is a continuing one and shall remain in full force and effect and be relied upon until LPL, PWP Advisor and Advisor have received a copy of a written termination notice, which writing will be deemed to terminate this Agreement effective upon receipt.