Dover Advisors LLC

Item 5 – Fees and Compensation

The following paragraphs detail the fee structure and compensation methodology for services provided by the
Advisor. Each Client engaging the Advisor for services described herein shall be required to enter into a written
advisory agreement with the Advisor.

A. Fees for Advisory Services
Wealth Management Services
Wealth management fees are paid quarterly, in advance of each calendar quarter, pursuant to the terms of the
wealth management agreement. Fees range from 0.30% to 1.25% annually based on several factors, including: the
scope and complexity of the services to be provided; the level of assets to be managed; and the overall relationship
with the Advisor. Relationships with multiple objectives, specific reporting requirements, portfolio restrictions and
other complexities may be charged a higher fee. Wealth management fees are based on the market value of assets
under management at the end of the prior calendar quarter.

                                                     Dover Advisors, LLC
                                    2235 Staples Mill Road, Suite 110, Richmond, VA 23230
                                                    Phone: (804) 750-3665
                                                  https://doveradvisors.com/

The wealth management fee in the first quarter of service is prorated from the inception date of the account[s] to the
end of the first quarter. Fees may be negotiable at the sole discretion of the Advisor. In certain circumstances, the
Advisor may charge a fixed annual fee for its services. The Advisor may also offer the Client a tiered fee schedule.
The Client’s fees will take into consideration the aggregate assets under management with the Advisor across all
accounts, unless otherwise agreed in writing. All securities held in accounts managed by Dover Advisors will be
independently valued by the Custodian. The Advisor will conduct periodic reviews of the Custodian’s valuation to
ensure accurate billing.

Clients may make additions to and withdrawals from their account[s] at any time, subject to Dover Advisors’ right to
terminate an account. Additions may be in cash or securities provided that Dover Advisors reserves the right to
liquidate any transferred securities or decline to accept particular securities into a Client’s account[s]. Clients may
withdraw account assets on notice to Dover Advisors, subject to the usual and customary securities settlement
procedures. However, Dover Advisors designs its portfolios as long-term investments, and the withdrawal of assets
may impair the achievement of a Client’s investment objectives. Dover Advisors may consult with its Clients about
the options and ramifications of transferring securities. However, Clients are advised that when transferred
securities are liquidated, they may be subject to transaction fees, fees assessed at the mutual fund level (i.e.
contingent deferred sales charge) and/or tax ramifications.

Use of Independent Managers
For Clients with accounts[s] allocated to an Independent Manager, the Client will pay an additional fee to the
manager and/or platform, which is separate and in addition to the Advisor’s fee above. The Advisor does not earn
any portion of the manager or platform fees.

B. Fee Billing
Wealth Management Services
Wealth management fees are calculated by the Advisor or its delegate and deducted from the Client’s account[s] at
the Custodian. The Advisor shall send an invoice to the Custodian indicating the amount of the fees to be deducted
from the Client’s account[s] in advance of each quarter. The amount due is calculated by applying the quarterly rate
(annual rate divided by 365 days, multiplied by the number of days in the upcoming quarter) to the market value of
assets under management as of the end of the prior quarter. Clients will be provided with a statement, at least
quarterly, from the Custodian reflecting the deduction of the wealth management fee. Clients provide written
authorization permitting wealth management fees to be deducted by Dover Advisors to be paid directly from their
account[s] held by the Custodian as part of the wealth management agreement and separate account forms
provided by the Custodian.

For Client accounts implemented through an Independent Manager, the Client’s overall fees may include Dover
Advisors’ wealth management fee (as noted above) plus wealth management fees and/or platform fees charged
by the Independent Manager[s], as applicable. In certain instances, the Independent Manager or the Advisor may
assume responsibility for calculating the Client’s fees and deduct all fees from the Client’s account[s]. In other
instances the Advisor and the Independent Manager will each assume the responsibility for calculating and
deducting their respective fees from the Client’s account[s].

C. Other Fees and Expenses
Clients may incur certain fees or charges imposed by third parties, other than Dover Advisors, in connection with
investments made on behalf of the Client’s account[s]. The Client is responsible for all custody and securities
execution fees charged by the Custodian, as applicable. The Client is responsible for any Independent Manager
fees, which include the platform fees for access to the manager. The Client may also incur additional fees for
their placement into IPOs that the Advisor recommends. The Advisor's recommended Custodian does not charge
securities transaction fees for ETF and equity trades in a Client's account, provided that the account meets the
terms and conditions of the Custodian's brokerage requirements. However, the Custodian typically charges for
mutual funds and other types of investments. The fees charged by Dover Advisors are separate and distinct from
these custody and execution fees.

                                                    Dover Advisors, LLC
                                   2235 Staples Mill Road, Suite 110, Richmond, VA 23230
...

Item 7 – Types of Clients

Dover Advisors offers advisory services to individuals, high net worth individuals, families, trusts, estates, and
businesses. Dover Advisors generally does not impose a minimum relationship size.