The King Washington Participation Agreement is a legally binding document that outlines the terms and conditions of the collaboration between First American Ins. Portfolios, Inc. (FAIR) and SET Investments Distribution Co. (SET) in relation to the King Washington investment vehicle. This agreement governs the rights and responsibilities of both parties involved. The purpose of the King Washington Participation Agreement is to establish a framework for the distribution and management of the investment products offered by FAIR through SET's distribution network. This agreement ensures that both FAIR and SET work together to achieve the common goal of providing efficient and effective investment opportunities to their clients. The King Washington Participation Agreement identifies the roles and obligations of each party. FAIR, as the sponsor of the investment vehicle, agrees to provide the necessary products and services, including investment strategies and portfolio management. SET, on the other hand, agrees to distribute these investment products to its network of financial advisors and investors. This agreement also includes important provisions related to compensation and fees. It outlines how and when FAIR will compensate SET for its distribution services, including any upfront or ongoing fees or commissions. Moreover, it specifies the responsibilities of each party regarding record-keeping, reporting, and compliance with applicable laws and regulations. There may be different types or variations of the King Washington Participation Agreement between FAIR and SET depending on the specific investment products involved. For example, these could include agreements for mutual funds, exchange-traded funds (ETFs), or separately managed accounts (SMA's), each requiring specific terms and conditions tailored to the respective investment vehicle. In conclusion, the King Washington Participation Agreement serves as a comprehensive and detailed contract governing cooperation between FAIR and SET. It establishes guidelines for distribution and management of investment products, outlines compensation arrangements, and ensures compliance with legal and regulatory requirements.