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Monthly (Available online by the 3rd business day and mailed by the 5th business day) Market Commentary (Internet) Monthly Performance Report (In-person meeting, Internet, and by mail) Quarterly (Available 30-40 days after quarter-end, depending on required exhibits) City will be able to log in through the PFMAM portfolio reporting website, to view past monthly portfolio statements, holdings as of the prior trading day, and the current month's transactions through the prior trading day. Monthly statements will typically be available by the third business day following the end of the month. Reports follow GAAP and GASB 31 and 40 standards, providing market valuations as well as book values (amortized cost). Certain customized reports can be created and uploaded with online access. Performance benchmarks PFMAM will hold an in-depth discussion about goals, risk and return preferences, and cash flow needs with City staff. PFMAM will recommend a benchmark based on its understanding of the City's goal for the portfolio and tolerance for risk. Complete fee schedule The annual fee schedule follows based on the scope of services outlined in the City's request for proposal. First $100 million 7 basis Next $100 million 6 basis Assets over$200 million 5 oints 0.07% oints 0.06% basis oints 0.05% PFMAM will bill the City monthly in arrears based on the average amortized cost value, accrued interest, and cash or money market fund balances of assets under management for the month. The actual fees accrued each year pursuant to such monthly billing will depend on the average amount of assets under PFMAM's management, provided, however, that, the amount billed for each year (dated from the effective date of the Agreement or its anniversary, as appropriate) shall be no less than $25,000 . No fee will be charged for assets invested outside of PFMAM's management, including those in LAIF and the County Pool. PFMAM will fix the proposed fee schedule for three years, retaining the option to negotiate a fee adjustment, in line with CPI, after the third year. There will be no additional expenses for PFMAM's normal service. The City will incur the cost of custody and safekeeping with a third-party custodial bank. ATTY/AGR/2016.150/PFM-INVESTMENT ADVISORY SVC REV:06-22-16 JS Page 15 of 16