Allaria Asset Management LLC

Item 5 – Fees and Compensation
Basic fee schedule:

The specific manner in which fees are charged by Adviser is established in each client’s written agreement
with Adviser. Generally, and pursuant to contract, fees for the management of Accounts will be based
upon a percentage of the total assets in the account (including margined assets). Adviser typically receives
an annual management fee, between .25% and 1.50% of the net asset value of the Account. Alternatively
Adviser can agree, depending on the client, on segmenting fees by Asset Class, for example it can charge
0.12% on Fixed Income assets and 0.40% on all remaining assets. In such cases, the overall fees will vary
from the indicative percentages described in the schedule below. All fees are negotiable. Clients should
inquire directly with their Advisor and discuss fee arrangements beneficial to their individual situation.

                                   Basic Management Fee Schedule
                            Account Value                                       Fee Percentage
                           Over $50,000,000                                      .25% to 0.50%
                      $25,000,000 to $49,999,999                                 .50% to 0.75%
                      $10,000,000 to $24,999,999                                0.75% to 1.00%
                           Up to $9,999,999                                     1.00% to 1.50%

Alternatively, and upon client’s preference, Adviser may also enter into hourly fee arrangements, typically
for advisory services provided to clients or client Accounts. Hourly fees range between $150 and $500
per hour depending on the complexity of advisory services offered.

Calculation and Deduction of Advisory Fees

With respect to accounts that Adviser manages, clients are generally required to authorize Adviser to
directly debit management fees from client accounts on a monthly or quarterly basis. Fees for Family
Wealth Services and other non-discretionary programs are billed to clients, although frequently clients
pre-authorize their custodians to automatically deduct the fees from the client’s account and to make

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payment to Adviser. Management fees are deducted or billed, as applicable, on a monthly or quarterly in
arrears. The Adviser may from time-to-time bill fees in advance as negotiated with each individual client.

A client may pay more or less fees than similar clients depending on the particular circumstances of the
client, size, additional or differing levels of servicing or as otherwise agreed with specific clients. Clients
that negotiate fees, including a flat fee, may end up paying a higher fee than that set forth above as a result
of fluctuations in the client’s assets under management and account performance.

In the event the Adviser bills fees in advance, refunds are given on a prorated basis, based on the number
of days remaining in a month at the point of termination. Fees that are collected in advance will be
refunded based on the prorated amount of work completed up to the day of termination within the month
terminated. The fee refunded will be the balance of the fees collected in advance minus the daily rate*
times the number of days in the month up to and including the day of termination. (*The daily rate is
calculated by dividing the monthly or quarterly AUM fee by the number of days in the termination
month/quarter). Clients may terminate their contracts without penalty, for full refund, within 5 business
days of signing the advisory contract. Advisory fees are withdrawn directly from the client’s accounts
with client written authorization.

For advisory clients that are charged on an hourly basis, the Adviser will provide to the client a detailed
invoice accounting for the time allocated for advisory services during the previous quarter. The invoice
will be issued no later than 30 days after the close of the preceding quarter in which the advisory has been
provided.

Compensation for the Sale of Securities

Some of Adviser’s supervised or associated persons may accept compensation for the sale of securities or
other investment products, including asset-based sales charges or service fees from the sale of mutual
funds, in their individual capacities as registered representatives or even sub-advisers who may also be
sub-brokers of Adviser’s affiliated broker-dealer Allaria Securities. Supervised or associated persons of
Adviser not registered or associated with Allaria Securities do not receive such compensation in
connection with accounts managed or advised by Adviser.

Fees for Research and Strategic Consulting Services

The Adviser customarily charges fees for its research and strategic consulting services based on the scope
and complexity of the engagement, which may include fixed annual or quarterly fees or fees tied to specific
deliverables. These fees are generally set forth in a separate Research and Strategic Consulting Agreement
entered into with the Client.
From time to time, the Adviser may elect to waive or reduce such fees at its discretion based on various
factors, including but not limited to: the total assets managed by the Client (or its affiliates) with the
Adviser, the duration and nature of the client relationship, the volume of services requested, or strategic
business considerations.
All fees are agreed upon in advance with each Client. The Adviser does not receive performance-based
compensation in connection with these consulting services. Clients are responsible for all applicable taxes
and any third-party expenses incurred in connection with services, unless otherwise agreed.

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Fees for Administrative Consulting Services
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Item 7 - Types of Clients

AAM provides asset and portfolio management services to individuals, high-net-worth individuals,
corporations, institutions, and other entities. The minimum account size for establishing an advisory
relationship is generally $100,000; however, initial investments below this amount may be accepted
at AAM’s discretion.

In addition, AAM offers research and strategic consulting services on a non-discretionary basis to
foreign financial institutions, including regulated foreign broker-dealers and banks, pursuant to
written agreements. These services are designed to support the internal functions of institutional
clients and do not involve the provision of individualized investment advice to end clients or the
exercise of investment discretion over client accounts.

AAM also provides non-discretionary administrative consulting services to clients who seek support
for consolidated reporting, account maintenance, and coordination with custodians and other third-
party professionals. These services are typically utilized by clients with complex asset structures or
accounts held across multiple custodians.