Sample Investment Management Agreement Page 4
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21Client Name
Date
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(d)
Fees will be [calculated on a quarterly basis, based on the market value of the
Account at the end of each calendar quarter] or [calculated on a daily basis based
on the market value of the Account on the end of each calendar quarter], and will be
billed [at least quarterly], in arrears. [The Client authorizes the Manager, in its
sole discretion, to direct the trustee of the Pooled Funds to redeem such number of
units of the Pooled Funds, or may sell or redeem other assets in the Account in its
sole discretion held in the Client’s account as may be required to pay the
Manager’s fees and remit the proceeds of such sale or redemption to the
Manager.] By providing this authorization, the Client will be deemed to have
provided notice to the Manager to effect such redemption at the time the Manager so
directs such redemption to be executed. The Client shall be liable to pay to the
Manager any unpaid fees not satisfied by way of redemption of units or the sale or
redemption of other assets, as outlined in this paragraph.
applies to the Client’s
(e)
[Notwithstanding paragraph 7.1(a) above, Schedule
accounts [with the Manager in aggregate] and will remain in effect for a period
of
years, commencing on the Effective Date.]
7.2
[The management fee disclosed in the [simplified prospectus or offering memorandum] for
a Pooled Fund is for the management of the Pooled Fund (including the provision of
portfolio advisory services in relation to the securities held by that Pooled Fund). [In the
event that a Client whose Account that invests in Series
of a Pooled Fund is charged a
higher Fee than that charged to another Client whose account invested in Series
of the
same Pooled Fund, the differential is for discretionary portfolio advisory services provided
by the Manager.]
8.
STANDARD OF CARE
8.1
The Manager shall, in carrying out its obligations under this Agreement, act honestly, in
good faith and in the best interests of the Client and in connection therewith shall exercise
the degree of care, diligence and skill that a reasonably prudent portfolio manager would
exercise in similar circumstances. Notwithstanding the foregoing, the Client understands
and agrees that the Manager does not represent and cannot guarantee performance results for
the Account [or the Pooled Funds].
The Client understands that there are risks attached to the Manager’s investment of the
8.2
Account in securities, including various market, currency, economic, political and business
risks. The Client agrees that the Manager will not be liable to the Client for any loss that the
Client may suffer as a result of the Manager’s good faith decisions or actions where the
Manager exercises the care, diligence and skill expected of a reasonably prudent portfolio
manager.
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