Common use of Participant Accounts Clause in Contracts

Participant Accounts. Your Participant Accounts will be charged an annual gross advisory fee based on your average daily balance of funds and collective investment trusts held in such accounts. Digital Advisor’s annual gross advisory fee for your Participant Account varies by plan. Please see your plan fee disclosure notices for the applicable annual gross advisory fees that apply to your plan assets. Your annual gross advisory fee for each enrolled account will be reduced by a credit of the actual revenue that Vanguard (or a Vanguard affiliate) accrues from expense ratios of Vanguard managed funds, Vanguard ETFs, Vanguard collective investment trusts, or other Vanguard revenues directly collected from Portfolio investments (e.g., 12b-1 or revenue sharing fees) enrolled in the Service. Your resulting net advisory fee calculated for each account will be the actual fee collected from each enrolled account within the Service. You can expect to pay a net advisory fee of approximately 0.15% across the Portfolio. However, the actual net advisory fee deducted from each enrolled account will vary based on your unique asset allocation and fund investments within the Portfolio and the holdings in each enrolled account. If your Portfolio contains multiple enrolled accounts the actual net advisory fee will differ from one account to another depending on the investments held in each account. To the extent that you incur account service fees, commission charges, other account charges and processing fees in connection with establishing accounts with VAI affiliates directly due to the management of the enrolled account any Vanguard revenues from those fees will also be offset. You should review the terms of your account opening documents or any plan fee disclosure notices for details regarding fees that may be assessed in connection with these accounts. To the extent that Vanguard or a Vanguard affiliate receives revenue from these charges they will be included in the credit amount deducted from your gross advisory fee. The credit amount will be rounded to the nearest whole ▇▇▇▇▇ using standard rounding for the purpose of calculating the net advisory fee.