(vi) Corporate Cash Program:
All Corporate Cash Programs will adhere to the following pricing schedule:
*Our firm’s fees are billed on a pro-rata annualized basis quarterly in advance based on the value of your account on the last day of the previous quarter.
Exceptions may be made to the published fee schedules under certain circumstances pursuant to a negotiated agreement with the client. No increase in the fee schedules shall be effective without prior written notification to the client.
Our firm’s fee schedule does not include the following separately incurred expenses, of which our firm does not receive any part: bank fees, mutual fund, index fund and/or exchange traded fund expenses, trading costs, and custodial costs. These fees will be separately charged by the relevant parties and borne by the client.
Unless the client requests direct billing, fees will be automatically deducted from the account. If fees are automatically deducted from the client’s account, the client adheres and acknowledges the following:
a) The custodian sends statements at least quarterly to the client showing all disbursements for the custodian account, including the amount of the advisory fees;
b) The client provides authorization permitting our firm to be directly paid by these terms;
c) If our firm sends a copy of its invoice to the client, our firm sends a copy of its invoice to the custodian at the same time it sends its invoice to the client;
d) If our firm sends a copy of its invoice to the client, our firm’s invoice includes a legend as required by paragraph (a)(2) of rule 206(4)-2 under the Investment Advisers Act of 1940.*
*The legend urges the client to compare information provided in their statements with those from the qualified custodian in account opening notices and subsequent statements sent to the client for whom the adviser opens custodial accounts with the qualified custodian.
The first advisory fee will be based on the value of the account on the first day of management by our firm and is payable upon execution of the Investment Advisory Agreement. The first advisory fee will be assessed on pro-rata basis taking into account the time for which the account was not managed by our firm and the time left in the quarter.
Either party may terminate the investment advisory agreement at any time by providing written notice to the other party. Full refunds will only be made in cases where cancellation occurs within five (5) business days of signing our firm’s investment advisory agreement. After five (5) business days, clients will receive a pro-rata refund, which takes into account work completed by our firm on behalf of the client. The client will incur charges for bona fide advisory services rendered to the point of termination, and such fees will be due and payable by the client.
our firm will adhere to the SEC Staff No-Action Letter, SMC Capital, Inc. in the event that orders are aggregated.