Announcement

Revised Beneficial Proxy Fees

On Friday, January 10, 2014, the Securities and Exchange Commission (SEC) approved changes to NYSE and FINRA rules related to the processing of beneficial shareholder communications and proxy voting. The new rules outline the reimbursements broker dealers and custodian banks receive for the work they perform in connection with forwarding proxy communications to their client accounts.

Revised Fee Schedule - Effective January 1, 2014 Record Date
Fee NYSE Revised Fees
Processing Unit Fee Tier I: < 10k positions @ $0.50
Tier II: 10,001 - 100k positions @$0.47
Tier III:100,001 - 300,000 @ $0.39
Tier IV: 300,001 - 500K @ $0.34
Tier V: > 500K @$0.32
No charge for managed account positions ≤ 5 shares
No charge for any position < 1 share
Intermediary Unit Fee Tier I: < 10k positions @ $0.14
Tier II: 10, 001 - 100k positions @ $0.13
Tier III: 100,001 - 300,000 @ $0.11
Tier IV: .300,001 - 500k @ $0.09
Tier V: > 500k @ $0.07
No charge for managed account positions ≤ 5 shares
No charge for any position < 1 share
"Special" Meeting Intermediary Unit Fee

A special meeting will be defined as a meeting other than one for the election of directors/
Tier I: < 10k positions @ $0.19
Tier II: 10,000 - 100k positions @ $0.18
Tier III: 100,001 - 300,000 @ $0.16
Tier IV: 300, 001 - 500k @ $0.14
Tier V: > 500k @ $0.12
No charge for managed account positions ≤ 5 shares
No charge for any position < 1 share
Nominee Coordination Fee $22/nominee with ≥ 1 position
Preference Management Fee $0.32/position for e-delivery, householding, and ProxyEdge
$0.16/position for managed accounts
No charge for managed account positions ≤ 5 shares;
No charge for any position <1 share
Reminder and "Special" Reminder Processing Fee $0.20/position for e-delivery, householding and ProxyEdge
$0.40/position for special meetings (non-election of directors meeting)
No charge for managed account positions ≤ 5 shares;
No charge for any position <1 share
Contest Processing Unit Fee $1.00/position
No charge for managed account positions ≤ 5 shares
No charge for any position <1 share
Contest Intermediary Unit Fee $0.25/position
Minimum fee of $5,000 per soliciting entity
No charge for managed account positions ≤ 5 shares
No charge for any position <1 share
Notice & Access Fee
*optional at user choice
1 – 10,000: $0.25
10,001 – 100,000: $0.20
100,001 – 200,000: $0.15
200,001 – 500,000: $0.10
500,001+: $0.05
No charge for managed account positions ≤ 5 shares
No charge for any position <1 share
Enhanced Broker Internet Platform (“EBIP”) Fee $0.99 one-time sucess fee for each position converted from full package physical delivery to e-delivery. To qualify for the fee, the converted position must be held at a broker who provides an EBIP and the shareholder must also have access to the Platform.
NOBO List Share or voted/unvoted stratification of NOBO lists are available using records from a annual proxy, annual/special meeting, or solicitation of written consent.

$0.065 per name plus regulated intermediary fee:
1 – 10,000: $0.10
10,001 – 100,000: $0.05
Above 100,000: $0.04
Minimum of $100

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