Alan D Biller & Associates Inc

Item 5 Fees and Compensation
Advisory Fees for our services are negotiated with each client, and may be based on a fixed fee or retainer (a
pre-negotiated amount based on services required), an asset-based fee, an hourly fee, or some combination of
these.

The current maximum asset-based fee rate is 0.30% per year; provided, for very small Plans (those with Plan
assets of $10 million or less), the terms of our Advisory Agreement shall be negotiated on a case-by-case
basis between ABA and the representative(s) of each such Plan (without regard to such fee rate maximum).

All fees and rates are negotiated in advance with each client and are billed quarterly in arrears; provided, ABA
and the client may agree that ADB will provide services that are not covered by the fees provided in the
Advisory Agreement. In that event, ADV and the client shall execute a written description of the services to be
performed, the fees to be charged, and any other terms and conditions, which shall otherwise be subject to the
terms of the Advisory Agreement.

A client (or the client's Plan) is billed directly for advisory services.

ABA does not accept payment in advance for any services, does not accept indirect compensation, and does
not accept commission-based fees.

ABA's senior managers and other staff attend various meetings of Plan Trustees, Investment Committees, and
other client meetings, and attend meetings of advisory boards of pooled investment vehicles where ADB's
membership on the advisory board arises in connection with the Plan's investment in the pooled investment
vehicle. The Advisory Agreement provides that the client reimburses ABA for these out-of-pocket expenses
(subject to any client expense policies to which ABA has agreed); provided, where provided in the Advisory
Agreement, ABA will cooperate with the client's efforts in seeking reimbursement from the Manager of any
reimbursable expenses due in connection with ABA's attendance at advisory board meetings of such pooled
investment vehicle.

Additional Fees & Expenses
The Advisory Fees are separate and distinct from other fees and expenses a client or Plan may incur,
including:

    •   Brokerage and Investment Expenses
    •   Investment Company Expenses
    •   Cash Management Fees & Expenses
    •   Custodial Expenses
    •   Alternative Investment Expenses.

ABA does not receive any part of these fees or expenses, nor does ADB offset its Advisory Fees by the
amount of any of such fees or expenses incurred by the Plan.

Brokerage and Investment Expenses
Clients should expect accounts will incur Brokerage and Investment Expenses to purchase or sell securities.
The amount of the Brokerage and Investment Expenses is generally subject to negotiation between
the Manager who places orders on behalf of the Plan and the broker selected by the Manager. Our firm does
not share in any portion of the brokerage fees/transaction charges imposed by the broker- dealer or custodian

Investment Company Expenses
Mutual funds, money market funds, ETFs, and closed-end funds have their own expenses embedded into their
investment vehicle(s). These fees affect the overall performance and price of these investments. The fees that
you pay to our firm for investment advisory services are separate and distinct from the fees and expenses
charged by mutual funds or exchange-traded funds (described in each fund's prospectus) to their
shareholders. In addition our firm does not receive any 12b-1 Fees.

Cash Management Fees & Expenses
Plan cash awaiting investment or reinvestment may be invested in a cash balance, money market fund, or
deposit account at a qualified custodian selected by the client which may carry fees and expenses. We do not
receive any compensation related to such accounts.

Custodial Expenses
Plans must pay the cost of services provided by their Custodian. Specific fees and terms of each Custodian's
services are described in each Plan's separate Custodial Agreement. ABA does not receive any portion of the
compensation received by the Custodian.

General Information

Negotiability of Fees and Terms: ABA retains the discretion to negotiate fees and other terms on a client-by-
client basis. Client facts, circumstances and needs will be considered in determining the fees to be charged
and terms of the Advisory Agreement, including the complexity and size of the account(s) to be placed under
management, potential related accounts to be managed, portfolio style, account composition, and reporting
requirements. The specific fee schedule will be identified in the Advisory Agreement between the Advisor and
each client.

Termination of the Advisory Relationship: An Advisory Agreement may be terminated by the client or us at
any time upon written notice to the other, and advisory fees are prorated based on the number of days the
Advisory Agreement was in effect during such calendar quarter. ADB shall immediately invoice the client for
the prorated fees due, as provided in such agreement. ADB does not collect advisory fees in advance;
accordingly, no refunds will be due upon termination of the Advisory Agreement. Upon termination, Client will
be responsible for monitoring all transactions and assets, and ADB shall not have any obligation to monitor or
make recommendations with respect to Plan's account or assets.

Item 7 Types of Clients
ABA provides advisory services for the following types of Plans:

    • Single-, multiple-employer and multi-employer ("Taft-Hartley")
    • Corporations and public entities
    • Endowments and foundations

ABA does not provide advisory services to private individuals or families or taxable entities. Upon
Plan employer request, ABA may provide similar discretionary advisory services for small amounts of non-Plan
assets.