BH Asset Management LLC

Fees and Compensation

                                                                                               Form ADV Part 2A, Item 5
 BH charges fees based on assets under management billable in advance on a quarterly basis. The range of fees
 may average approximately 1% to 2%. The fees charged are calculated as an annual percentage of assets based
 on the market value of the account at the end of quarter. Fees are charged on a calendar quarter basis in advance
 and prorated to the end of the quarter upon inception of the account. The level of the fee will vary based
 on the amount of assets under management, the particular investment styles and investment options chosen
 or recommended.

 The standard fee schedules for individual managed accounts are as follows, but may be negotiable in individual
 cases:

 Single Managed Account Portfolios

 Equity/Balanced Portfolios
Amount                Fee
First $10,000,000     1.00%-1.25%
Next $5,000,000      0.85%-1.00%
Over $15,000,000      0.85%-1.00%

 BH collects fees from clients by either directly charging the customers’ accounts, by check or wire, at the client’s
 preference. BH does not have the authority to deduct fees without prior client approval.

 BH allows the customer to use the broker and custodian of their choice. The client is responsible for establishing
 these relationships. In the absence of such choice the Company may suggest a broker and/or custodian based
 on prior experience with them, which may include our assessment of their execution abilities, responsiveness to
 requests, and/or the total costs associated with the transactions. Other factors that may be considered is the
 value of research provided and the types of services available (for example, whether the client is provided with
 online access to their information). BH does not share in any commission or fees paid to the custodians and/or
 brokers. The client has sole authority and may elect to change custodians at any time.

 Clients pay fees quarterly in advance based on assets under management valued on the last day of the prior
 calendar quarter. If the advisory contract is terminated prior to the current quarter end, the client shall receive a
 pro-rated refund of pre-paid advisory fees calculated based on remaining days in the calendar quarter as the
 numerator divided into the total number of days in the quarter as the denominator and multiplied by the total
 amount billed for the quarter.

 BH does not prohibit clients from purchasing securities that BH has also purchased for their account.

                     Performance-Based Fees and Side-By-Side Management

                                                                                               Form ADV Part 2A, Item 6
 BH does not charge Performance-Based Fees and does not participate in Side-By-Side Management.

Types of Clients

                                                                                                  Form ADV Part 2A, Item 7
The Firm primarily has High Net Worth individuals with a minimum relationship size of approximately
 $1,000,000 – however exceptions are made on a case by case basis.

                  Methods of Analysis, Investment Strategies and Risk of Loss

                                                                                                  Form ADV Part 2A, Item 8
 A Fundamental method of analysis is utilized where an analysis of overall economic conditions including factors
 such as: inflation rate, balance of trade, unemployment rate and other economic factors. Then a sector analysis
 performed to identify underperforming sectors that appear to be trending up positively, after that specific
 company’s financials are reviewed to identify undervalued investments and to also identify growth opportunities
 with companies with above average sales and earnings growth. There is risk of loss in investing in securities.
 While BH Asset Management takes a fundamental approach to investing, past performance is no indication of
 future results and there are many factors that may affect prices of stocks and our clients should be prepared to
 bear risks associated with investing in securities.

 BH generally invests in equities and bonds in several market sectors that their fundamental analysis has identified
 as having either growth potential or is being undervalued by the market place.
 As with most investment strategies, there is also risk of loss with the fundamental investment strategy. Some are:
 by nature relying on historical data (i.e. financials and market analysis) to try to predict future results is flawed, as
 there are so many factors to consider and unforeseen events that may occur that could impact the value of any
 particular security. Stock picking is not an exact science and while the Firm conducts analysis to identify
 undervalued and/or growth stocks, market conditions can change rapidly rendering even the most recent analysis
 stale. There is also risk that published data that was relied upon, may at a later date be deemed inaccurate. There
 is risk that material non-public information or event material event may exist and had this information been
 available to the public, a decision to buy a specific stock may not have occurred. This is not an exhaustive list of
 risks and the clients may contact BH Asset Management LLC to discuss this or any other trade or investment
 philosophy related question.

 Securities investments involve the risk of loss of capital. The nature and type of securities to be purchased and
 traded by BH for clients and the investment techniques and strategies to be employed in an effort to increase
 profits may increase this risk. The identification and exploitation of investment opportunities involves uncertainty,
 and there can be no assurance BH will be able to locate investment opportunities or to correctly exploit
 inefficiencies in the markets. Many unforeseeable events, including actions by governmental authorities, such as
 the U.S. Federal Reserve Board, may cause sharp market fluctuations that can impact clients’ investments. While
 BH will use its best efforts in the management of the client’s account, there can be no assurance that the client
 will not incur losses.

 BH may be limited in dealing with investments, if its principals and/or registered staff or employees acquire inside
 information. In connection with the management of client investments, principals, registered staff or employees
 may acquire material non-public information or be restricted from either initiating or closing transactions in certain
 securities. In such instance(s), BH would be restricted from acting on such information and therefore may not be
 able to buy an investment that it otherwise might.