Each Participant shall be assessed a Participation Fee of $200.00 per month, invoiced annually, and in advance.

1) In the event the annual operating expenses of the Airlines Clearing House, Inc. are in excess of the annual revenues, and the shortage sums to a total of $50.00 or less per month, per Participant, each Participant shall be assessed equally the sum of the shortage.

Any residual operating expenses exceeding the revenues generated under paragraph 1) above shall be assessed to each Participant proportionately as a ratio of the gross receivable amounts billed by that Participant for clearance through the Clearing Bank compared to the total amount billed by all Participants.

2) In the event the annual revenues of the Airlines Clearing House, Inc. exceed the annual operating expenses, the over-collection shall be returned to the Participants, from time to time, in the same basis and proportion as originally assessed.

The Secretary-Treasurer is authorized to process assessments for operating expenses through Airlines Clearing House, Inc.