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Thus, (1 + .0025)1 ~ -1 = .000006935 is the daily fee factor <br />The Basic Services Fee will be based on cost recovery. As the fund balance <br />grows, the Basic Services Fee will be adjusted as reviewed by the Advisory <br />Board. The current rate schedule approved by the Advisory Board is as <br />follows: ' <br />Up to a Total TexPool Balance of: Basic Services Fee (Annualized) <br />$ 100,000,000 .002 <br />$ 250,000,000 .0017 <br />$ SOO,000,U00 .0005 <br />$ 1,000,000,000 .0003 <br />$ 5,000,000,000 .0002 <br />The daily fee will be applied to the total balance of "funds held" by TexPool <br />(i.e. sum of all participant balances) and deducted from gross distributable in- <br />vestment income, as follows: <br /><less> <br />plus <br />Accrued Interest on Investments <br />Accrual of Premium on Investments <br />Accretion of Discount on Investments <br />Gross Distributable Investment Income <br />A schedule of fees for basic and special services will accompany the partici- III <br />pation agreement. <br />Gross Distributable Investment Income <br /><less> Basic Services Fee <br />Net Investment Income <br />-8- <br /> <br /> <br />