Aeternitas Investment Management LLC

ITEM 5 – FEES AND COMPENSATION
   A. FEE SCHEDULE
        Aeternitas is a fee-only registered investment adviser and charges an investment management fee
        based on total assets under management. The asset-based fees for investment management services
        are negotiable based on a client’s needs, situation, and total assets managed. Generally, the
        Investment Management fee will be 1.00% annualized, billed monthly on the basis of total account
        value at the close of business on the final calendar day of the preceding month. Total account value
        is calculated by summing the total assets under management of each individual account for a
        particular client subject to an Investment Management Agreement.

            Total Assets Under Management                 Annualized Investment Management Fee

                          All assets                                           1.00%

       The Investment Management Fee is negotiable generally and the final fee schedule for a particular
       client will be attached as an appendix to the Investment Management Agreement. Certain clients of
       Aeternitas may be charged fees that are less than what is set out above based on a preexisting
       relationship with Aeternitas. Fees are based on the net assets in the client’s account as of the last
       calendar day of each month. Clients may terminate the Investment Management Agreement at any
       time upon written notice. No increase in the Investment Management Fee will be effective without
       prior client consent.

       Management fees will be prorated for capital contributions or withdrawals made within a month.
       Accounts initiated or terminated within a month will be charged a prorated fee based on the number
       of calendar days in the month to which the Investment Management Agreement applied divided by
       the total number of calendar days in the month.

   B. PAYMENT OF INVESTMENT MANAGEMENT FEES
      Fees are collected monthly in advance. Fees may be deducted directly from a client’s account by the
      Custodian pursuant to a written third-party authorization or the client will be billed as of the last
      calendar day of the month. Clients may wish to be billed directly for Investment Management Fees,
      and Aeternitas will provide an invoice to Client showing the calculation of Investment Management
      Fee for the period and the total amount due. The manner in which fees are deducted will be reflected
      in the Investment Management Agreement.

   C. OTHER FEES PAID BY CLIENT
      Investment Management Fees charged by Aeternitas are exclusive of commissions, exchange fees,
      and other fees charged by the Custodian and/or Broker-Dealer. Clients will be responsible for paying
      all fees charged to client accounts by the Custodian and/or Broker-Dealer. These fees may include
      fees charged for custodial services, mutual fund or exchange-traded fund expenses or transaction
      costs, brokerage commissions and fees, or exchange fees.

   D. ADVANCED FEE PAYMENT
      Aeternitas collects Investment Management Fees in advance based on the total account value as of
      the last day of the preceding calendar month. In the event of early termination, fees will be prorated
      for the total number of calendar days for which services were provided in the month of termination
      divided by the total number of calendar days in that month. The remaining balance of fees for that
      period will be reimbursed to Client.

   E. OTHER INVESTMENT RELATED COMPENSATION
      Aeternitas does not accept compensation for the sale of securities or other investment products. The
      only investment-related compensation accepted by Aeternitas is the investment management fees
      calculated consistent with Section 5.A above.

ITEM 7 – TYPES OF CLIENTS
Aeternitas provides investment advice to individuals, families, trusts, charitable organizations, businesses,
and corporations. Although Aeternitas does not maintain a minimum account size, Aeternitas recommends
that Clients invest a minimum of $100,000.