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statusisrequiredpursuanttotheIRMAexemption,asinterpretedfromtimetotimebytheSEC).ClientacknowledgesandagreesthatanyreferencetoPFM,itspersonnelanditsroleasIRMA,includinginthewrittenrepresentationofClientrequiredunderSECRule15Ba1-1(d)(3)(vi)(B)shallbesubjecttopriorapprovalbyPFM.ClientfurtheragreesnottorepresentthatPFMisClient'sIRMAwithrespecttoanyaspectofamunicipalsecuritiesissuanceormunicipalfinancialproduct,outsideofthescopeofserviceswithoutPFM'spriorwrittenconsent.2.MSRBRuleG-42requiresthatmunicipaladvisorsmakewrittendisclosurestoitsClientsofallmaterialconflictsofinterestandcertainlegalordisciplinaryevents.SuchdisclosuresareprovidedinPFM'sDisclosureStatementdeliveredtoClienttogetherwiththisAgreement.IV.FINANCIALADVISORYCOMPENSATIONFortheservicesprovidedunderthisAgreement,PFM'sprofessionalfeesshallbepaidasprovidedinExhibitBtothisAgreementandClientshallpayexpensesandfeesforotherservicesnotsetforthinExhibitAasprovidedbelow.1.ReimbursableExpensesInadditiontofeesforservices,PFMwillbereimbursedfornecessary,reasonable,anddocumentedout-of-pocketexpensesincurred,includingtravel,meals,lodging,telephone,mail,andotherordinarycostandanyactualextraordinarycostforgraphics,printing,dataprocessingandcomputertimewhichareincurredbyPFM.TheClientwillberesponsibleforexpensesofthird-partiesprovidingseparateservices,includingbondratingagencies,bondcounsel,of6cialstatementdistribution,andfiscalagentorrefundingagents.UponrequestofClient,documentationofsuchexpenseswillbeprovided.2.OtherServicesAnyserviceswhicharenotincludedinthescopeofservicessetforthinExhibitAofthisAgreementwillbesubjecttoseparate,mutuallyacceptablefeestructures.IV.TERMSANDTERMINATIONThisAgreementshallbeeffectiveuponexecutionuntilDecember31,2017(the"InitialTerm")andmayrenewforadditional2yearperiods(eacha"RenewalTerm"andtogetherwiththeInitialTerm,the"Term").ThisAgreementshallremainineffectunlesscanceledinwritingbyeitherpartyuponthirty(30)dayswrittennoticetotheotherparty.V.ASSIGNMENTPFMshallnotassignanyinterestinthisAgreementorsubcontractanyoftheworkperformedundertheAgreementwithoutthepriorwrittenconsentoftheClient;providedthatuponnoticetoClient,PFMmayassignthisAgreementoranyinterestshereundertoamunicipaladvisorentityregisteredwiththeSECthatdirectlyorindirectlycontrols,iscontrolledby,orisundercommoncontrolwith,PFM.