Sub-Advisor Compensation Schedule


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									This is a schedule that provides the different rates charged by a sub-advisor for
investment consultation provided to a specific company. There are five different levels
of sub-advisor management: special, active, medium, low, and limited. The
management fee increases based on how much work the sub-advisor performs for the
company. This schedule can be used by small businesses or other entities that operate
as sub-advisors and provide investment consultation to other businesses.
                                    SUB-ADVISOR COMPENSATION SCHEDULE
                        Please when form is completed click on email text or by fax to 000 000 000
   You choose the level of compensation for subscribers to your model. This is typically based on the time you
   spend managing the model. Review the management level definitions and choose your preferred compensation.
   Management Level                  Usual Characteristics
   Special                           High frequency trading. Actively managed and researched
   Active                            Higher frequency trading. Significant research input
   Medium                            Low turnover
   Low                               Low turnover and rebalancing
   Limited                           Infrequent or quarterly rebalancing

   Select your model type and preferred subscription amount - check only 1 box.

                                 Management           Sub-Advisor Compensation per                Management
                                 Level                   Subscriber per Annum^                    Fee Charged*

                                 Limited                            25 bps                            0.50%
                                 Low                             37.5 bps                             0.75%
                                 Medium                             55 bps                            1.10%

                                 Active                             75 bps                            1.50%
                                 Special                         115 bps                              2.30%

    We approve the chosen compensation level and reserves the right to amend this. Compensation is paid quarterly in arrears by check. Payments
   under $100 may be withheld until the next payment cycle. Clients also have the option to purchase the data directly and arrange their own
   management services.
     Company sets a global subscription minimum for each model and reserves the right to amend such minimums and client management fees at its

                                                                                                    FOR OFFICE USE ONLY

Name         __________________________________                              Covestor Reference       ______________________________
                                                                             When reference is assigned click on the file icon for storage

Signature      __________________________________

Date         __________________________________

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