Common use of Referral Fee Clause in Contracts

Referral Fee. This disclosure is being provided to you in order to address any potential conflicts of interest as a result of the fact that the Referring Entity (defined below) may receive a fee for referring you to a Receiving Entity (defined below). The prospect of the receipt, or the actual receipt of compensation for referrals may provide the Referring Entity or its employees to favor sales of products for which they can receive compensation for making referrals. You may wish to take referral arrangements into consideration in evaluating recommendations made by the referring registrant. We have entered into referral agreements with certain other members of BMO Financial Group, specifically, BMO Xxxxxxx Xxxxx Inc., BMO Estate Insurance Advisory Services Inc. (formerly, BMO Xxxxxxx Xxxxx Financial Services Inc.), Bank of Montreal, BMO InvestorLine Inc. and BMTC (the “Referral Agreements”). The purpose of these Referral Agreements is to facilitate referrals of Clients to other members of BMO Financial Group to better serve Clients and prospective Clients. Each entity (a “Referring Entity”) which successfully refers Clients (each a “Referred Client”) to another entity which is a party to the Referral Agreement (a “Receiving Entity”) may receive a referral fee from the Receiving Entity. A portion of this referral fee may be paid to the individual employee of the Referring Entity (the “Referring Employee”). Alternatively, there may also be situations where the Referring Employee is compensated, directly or indirectly, by the Referring Entity for referring a Client of the Referring Entity to a Receiving Entity. Clients of BPIC and BMO Financial Group do not pay any additional charges and fees in connection with such referrals. More details of these potential referral fees are outlined in the chart starting on page 19. All activity requiring registration under securities laws and regulations will be performed by an entity with an appropriate registration under applicable securities laws. For additional information about referrals, please consult with your Investment Counsellor. Acknowledgements: You acknowledge receipt and understanding of the above referral disclosure, and further confirm your understanding and agree with the Referring Entity and the Receiving Entity that:

Referral Fee. This disclosure is being provided to you in order to address any potential conflicts of interest as a result of the fact that the Referring Entity (defined below) may receive a fee for referring you to a Receiving Entity (defined below). The prospect of the receipt, or the actual receipt of compensation for referrals may provide the Referring Entity or its employees to favor sales of products for which they can receive compensation for making referrals. You may wish to take referral arrangements into consideration in evaluating recommendations made by the referring registrant. We have entered into referral agreements with certain other members of BMO Financial Group, specifically, BMO Xxxxxxx Xxxxx Inc., BMO Estate Insurance Advisory Services Inc. (formerly, BMO Xxxxxxx Xxxxx Financial Services Inc.), Bank of Montreal, BMO InvestorLine Inc. and BMTC Trustco (the “Referral Agreements”). The purpose of these Referral Agreements is to facilitate referrals of Clients to other members of BMO Financial Group to better serve Clients and prospective Clients. Each entity (a “Referring Entity”) which successfully refers Clients (each a “Referred Client”) to another entity which is a party to the Referral Agreement (a “Receiving Entity”) may receive a referral fee from the Receiving Entity. A portion of this referral fee may be paid to the individual employee of the Referring Entity (the “Referring Employee”). Alternatively, there may also be situations where the Referring Employee is compensated, directly or indirectly, by the Referring Entity for referring a Client of the Referring Entity to a Receiving Entity. Clients of BPIC and BMO Financial Group do not pay any additional charges and fees in connection with such referrals. More details of these potential referral fees are outlined in the chart starting on page 1914. All activity requiring registration under securities laws and regulations will be performed by an entity with an appropriate registration under applicable securities laws. For additional information about referrals, please consult with your Investment Counsellor. Acknowledgements: You acknowledge receipt and understanding of the above referral disclosure, and further confirm your understanding and agree with the Referring Entity and the Receiving Entity that:

Referral Fee. This disclosure is being provided to you in order to address any potential conflicts of interest as a result of the fact that the Referring Entity (defined below) may receive a fee for referring you to a Receiving Entity (defined below). The prospect of the receipt, or the actual receipt of compensation for referrals may provide the Referring Entity or its employees to favor sales of products for which they can receive compensation for making Section One: BMO Private Investment Counsel Inc. Client Account Agreement (cont’d) referrals. You may wish to take referral arrangements into consideration in evaluating recommendations made by the referring registrant. We have entered into referral agreements with certain other members of BMO Financial Group, specifically, BMO Xxxxxxx Xxxxx Inc., BMO Estate Insurance Advisory Services Inc. (formerly, BMO Xxxxxxx Xxxxx Financial Services Inc.), Bank of Montreal, BMO InvestorLine Inc. and BMTC (the “Referral Agreements”). The purpose of these Referral Agreements is to facilitate referrals of Clients to other members of BMO Financial Group to better serve Clients and prospective Clients. Each entity (a “Referring Entity”) which successfully refers Clients (each a “Referred Client”) to another entity which is a party to the Referral Agreement (a “Receiving Entity”) may receive a referral fee from the Receiving Entity. A portion of this referral fee may be paid to the individual employee of the Referring Entity (the “Referring Employee”). Alternatively, there may also be situations where the Referring Employee is compensated, directly or indirectly, by the Referring Entity for referring a Client of the Referring Entity to a Receiving Entity. Clients of BPIC and BMO Financial Group do not pay any additional charges and fees in connection with such referrals. More details of these potential referral fees are outlined in the chart starting on page 1914. All activity requiring registration under securities laws and regulations will be performed by an entity with an appropriate registration under applicable securities laws. For additional information about referrals, please consult with your Investment Counsellor. Acknowledgements: You acknowledge receipt and understanding of the above referral disclosure, and further confirm your understanding and agree with the Referring Entity and the Receiving Entity that:

Referral Fee. This disclosure is being provided to you in order to address any potential conflicts of interest as a result of the fact that the Referring Entity (defined below) may receive a fee for referring you to a Receiving Entity (defined below). The prospect of the receipt, or the actual receipt of compensation for referrals may provide the Referring Entity or its employees to favor sales of products for which they can receive compensation for making referrals. You Clients may wish to take such referral arrangements into consideration in evaluating recommendations made by the referring registrant. We have BPIC has entered into referral agreements with certain other members of BMO Financial Group, specifically, BMO Xxxxxxx Xxxxx Inc., BMO Estate Insurance Advisory Services Inc. (formerly, BMO Xxxxxxx Xxxxx Financial Services Inc.), Bank of Montreal, BMO InvestorLine Inc. and BMTC BMO Trust Company (the “Referral Agreements”). The purpose of these Referral Agreements is to facilitate referrals of Clients to other members of BMO Financial Group to better serve Clients and prospective Clients. Each entity (a “Referring Entity”) which successfully refers Clients (each a “Referred Client”) to another entity which is a party to the Referral Agreement (a “Receiving Entity”) may receive a referral fee from the Receiving Entity. A portion of this referral fee may be paid to the individual employee of the Referring Entity (the “Referring Employee”). Alternatively, there may also be situations where the Referring Employee is compensated, directly or indirectly, by the Referring Entity for referring a Client of the Referring Entity to a Receiving Entity. Clients of BPIC and BMO Financial Group do not pay any additional charges and fees in connection with such referrals. More details of these potential referral fees are outlined in the chart starting on page 1914. All activity requiring registration under securities laws and regulations will be performed by an entity with an appropriate registration under applicable securities laws. For additional information about referrals, please consult with your Investment Counsellor. Acknowledgements: You acknowledge receipt and understanding of the above referral disclosure, and further confirm your understanding and agree with the Referring Entity and the Receiving Entity that: