diff --git a/script/Deploy.sol b/script/Deploy.sol
index ff66b20..beddd40 100644
--- a/script/Deploy.sol
+++ b/script/Deploy.sol
@@ -17,6 +17,7 @@ contract Deploy is Script {
         Dexorder dexorder = new Dexorder();
         IRouter router = new ArbitrumRouter();
         FeeManager feeManager = FeeManagerLib.debugFeeManager(
+            payable(msg.sender),
             payable(msg.sender),
             payable(0x90F79bf6EB2c4f870365E785982E1f101E93b906),  // order fees (native) => dev account #3 (fee=three)
             payable(0x976EA74026E726554dB657fA54763abd0C3a0aa9),  //   gas fees (native) => dev account #6 (g=6)
diff --git a/script/DeployArbitrum.sol b/script/DeployArbitrum.sol
index e204bc1..519e763 100644
--- a/script/DeployArbitrum.sol
+++ b/script/DeployArbitrum.sol
@@ -13,6 +13,7 @@ import "../src/core/Router.sol";
 contract DeployArbitrum is Script {
     function run() external {
         address admin = address(0x12DB90820DAFed100E40E21128E40Dcd4fF6B331);
+        address adjuster = address(0x822e57D95444f9Bf373827950068A877F7C7F5FC);
         address payable orderFeeAccount = payable(0x078E0C1112262433375b9aaa987BfF09a08e863C);
         address payable gasFeeAccount = payable(0x411c418C005EBDefB551e5E6B734520Ef2591f51);
         address payable fillFeeAccount = payable(0x152a3a04cE063dC77497aA06b6A09FeFD271E716);
@@ -22,7 +23,7 @@ contract DeployArbitrum is Script {
 
         Dexorder dexorder = new Dexorder();
         IRouter router = new ArbitrumRouter();
-        FeeManager feeManager = FeeManagerLib.defaultFeeManager(admin, orderFeeAccount, gasFeeAccount, fillFeeAccount);
+        FeeManager feeManager = FeeManagerLib.defaultFeeManager(admin, adjuster, orderFeeAccount, gasFeeAccount, fillFeeAccount);
         VaultImpl impl = new VaultImpl(router, feeManager, WETH);
         VaultFactory factory = new VaultFactory(admin, address(impl), 24 * 60 * 60); // 24-hour upgrade notice
         QueryHelper query = new QueryHelper(UniswapV3Arbitrum.factory);
diff --git a/src/core/FeeManager.sol b/src/core/FeeManager.sol
index 7e8f532..3496153 100644
--- a/src/core/FeeManager.sol
+++ b/src/core/FeeManager.sol
@@ -68,6 +68,7 @@ contract FeeManager is IFeeManager {
 
 
     address public immutable override admin;
+    address public override adjuster;
 
     address payable public override orderFeeAccount;
     address payable public override gasFeeAccount;
@@ -83,6 +84,7 @@ contract FeeManager is IFeeManager {
         FeeSchedule limits;
 
         address admin;
+        address adjuster;
         address payable orderFeeAccount;
         address payable gasFeeAccount;
         address payable fillFeeAccount;
@@ -127,6 +129,12 @@ contract FeeManager is IFeeManager {
     }
 
 
+    modifier onlyAdminOrAdjuster() {
+        require(msg.sender == admin || msg.sender == adjuster, "not admin or adjuster");
+        _;
+    }
+
+
     function _push() internal {
         // if existing proposals have become active, set them as the main schedules.
         if (proposedLimitActivationTime != 0 && proposedLimitActivationTime <= block.timestamp) {
@@ -155,7 +163,7 @@ contract FeeManager is IFeeManager {
     }
 
 
-    function setFees(FeeSchedule calldata sched) public override onlyAdmin {
+    function setFees(FeeSchedule calldata sched) public override onlyAdminOrAdjuster {
         _push();
 
         // check limits
@@ -187,10 +195,12 @@ contract FeeManager is IFeeManager {
 
 
     function setFeeAccounts(
+        address adjuster_,
         address payable fillFeeAccount_,
         address payable orderFeeAccount_,
         address payable gasFeeAccount_
     ) public override onlyAdmin {
+        adjuster = adjuster_;
         fillFeeAccount = fillFeeAccount_;
         orderFeeAccount = orderFeeAccount_;
         gasFeeAccount = gasFeeAccount_;
diff --git a/src/interface/IFeeManager.sol b/src/interface/IFeeManager.sol
index a0effb8..de7d1b2 100644
--- a/src/interface/IFeeManager.sol
+++ b/src/interface/IFeeManager.sol
@@ -43,19 +43,23 @@ interface IFeeManager {
     // The admin account may change the fees, limits, and fee account addresses.
     function admin() external view returns (address);
 
+    // The adjuster account may change the fees.
+    function adjuster() external view returns (address);
+
     // The three fee types are each sent to a separate address for accounting.
     function orderFeeAccount() external view returns (address payable);
     function gasFeeAccount() external view returns (address payable);
     function fillFeeAccount() external view returns (address payable);
 
-    // The admin may change the fees within the limits after only a short delay
+    // The admin or the adjuster may change the fees within the limits after only a short delay
     function setFees(FeeSchedule calldata sched) external;
 
-    // The admin may change the fee limits themselves after a long delay
+    // Only the admin may change the fee limits themselves after a long delay
     function setLimits(FeeSchedule calldata sched) external;
 
     // The admin may adjust the destination of fees at any time
     function setFeeAccounts(
+        address adjuster,
         address payable fillFeeAccount,
         address payable orderFeeAccount,
         address payable gasFeeAccount
diff --git a/src/more/FeeManagerLib.sol b/src/more/FeeManagerLib.sol
index 76abfb7..ceaea12 100644
--- a/src/more/FeeManagerLib.sol
+++ b/src/more/FeeManagerLib.sol
@@ -12,12 +12,13 @@ library FeeManagerLib {
 
 
     function defaultFeeManager(address payable owner) internal returns (FeeManager) {
-        return FeeManagerLib.defaultFeeManager(owner, owner, owner, owner);
+        return FeeManagerLib.defaultFeeManager(owner, owner, owner, owner, owner);
     }
 
 
     function defaultFeeManager(
         address admin,
+        address adjuster,
         address payable orderFeeAccount,
         address payable gasFeeAccount,
         address payable fillFeeAccount
@@ -47,7 +48,7 @@ library FeeManagerLib {
         );
         FeeManager.ConstructorArgs memory args = FeeManager.ConstructorArgs(
             limitChangeNoticeDuration, feeChangeNoticeDuration, maxIncreaseOrderFeePct, maxIncreaseTrancheFeePct,
-            fees, limits, admin, orderFeeAccount, gasFeeAccount, fillFeeAccount
+            fees, limits, admin, adjuster, orderFeeAccount, gasFeeAccount, fillFeeAccount
         );
         return new FeeManager(args);
     }
@@ -60,12 +61,13 @@ library FeeManagerLib {
 
 
     function freeFeeManager(address payable owner) internal returns (FeeManager) {
-        return FeeManagerLib.freeFeeManager(owner, owner, owner, owner);
+        return FeeManagerLib.freeFeeManager(owner, owner, owner, owner, owner);
     }
 
 
     function freeFeeManager(
         address admin,
+        address adjuster,
         address payable orderFeeAccount,
         address payable gasFeeAccount,
         address payable fillFeeAccount
@@ -94,7 +96,7 @@ library FeeManagerLib {
         );
         FeeManager.ConstructorArgs memory args = FeeManager.ConstructorArgs(
             limitChangeNoticeDuration, feeChangeNoticeDuration, maxIncreaseOrderFeePct, maxIncreaseTrancheFeePct,
-            fees, limits, admin, orderFeeAccount, gasFeeAccount, fillFeeAccount
+            fees, limits, admin, adjuster, orderFeeAccount, gasFeeAccount, fillFeeAccount
         );
         return new FeeManager(args);
     }
@@ -106,12 +108,13 @@ library FeeManagerLib {
 
 
     function debugFeeManager(address payable owner) internal returns (FeeManager) {
-        return FeeManagerLib.debugFeeManager(owner, owner, owner, owner);
+        return FeeManagerLib.debugFeeManager(owner, owner, owner, owner, owner);
     }
 
 
     function debugFeeManager(
         address admin,
+        address adjuster,
         address payable orderFeeAccount,
         address payable gasFeeAccount,
         address payable fillFeeAccount
@@ -143,7 +146,7 @@ library FeeManagerLib {
         );
         FeeManager.ConstructorArgs memory args = FeeManager.ConstructorArgs(
             limitChangeNoticeDuration, feeChangeNoticeDuration, maxIncreaseOrderFeePct, maxIncreaseTrancheFeePct,
-            fees, limits, admin, orderFeeAccount, gasFeeAccount, fillFeeAccount
+            fees, limits, admin, adjuster, orderFeeAccount, gasFeeAccount, fillFeeAccount
         );
         return new FeeManager(args);
     }
diff --git a/src/more/VaultAddress.sol b/src/more/VaultAddress.sol
index f23c08c..28da8c7 100644
--- a/src/more/VaultAddress.sol
+++ b/src/more/VaultAddress.sol
@@ -6,7 +6,7 @@ import "@forge-std/console2.sol";
 
 library VaultAddress {
     // keccak-256 hash of the Vault's bytecode (not the deployed bytecode but the initialization bytecode)
-    bytes32 public constant VAULT_INIT_CODE_HASH = 0xe5e6257bee9f182ff5b35a3356108ff2bc9bb2ac3017abc40a342f8d338d4d77;
+    bytes32 public constant VAULT_INIT_CODE_HASH = 0x8b1347850b0b1f2e05548c065af07c78f2c0617f70a2915b3cb7e0ba1bd20630;
 
     // the contract being constructed must not have any constructor arguments or the determinism will be broken.
     // instead, use a callback to get construction arguments