Evermay Wealth Management LLC

Item 5 Fees and Compensation
mutual funds and exchange traded funds utilized by Evermay                  Investment Management Services
Wealth are generally available directly to the public. Thus, a client
can generally obtain the funds recommended and/or utilized by               Clients pay an asset based annual fee (“Annual Advisory Feeˮ or
the Firm, independent of engaging Evermay Wealth as an                      “Investment Management Feeˮ) for Investment Management
investment advisor. However, if a prospective client does so, then          Services. The Annual Advisory Fee is based on an annual percentage
they will not receive Evermay Wealth's initial and ongoing                  of the market value of the assets in account(s) managedbyEvermay
investment advisory services.                                               Wealth. The Firmʼs Investment Management Fee shall be prorated
                                                                            and paid quarterly, in advance, based upon the market value of
Client Obligations. In performing our services, Evermay Wealth              the assets managed by Evermay Wealth (including cash,
shall not be required to verify any information received from the           securities, pending trades, and accrued interest) on the last day
client or from the client’s other professionals and is expressly            of the previous quarter. Evermay Wealth generally requires a
authorized to rely thereon. Moreover, it remains each client’s              $2,000,000 minimum billable asset level for comprehensive
responsibility to promptly notify Evermay Wealth if there is ever           wealth management as part of its Family Office and Integrated
any change in his or her financial situation or investment                  advisory service offerings. However, depending on certain
objectives for the purpose of evaluating our previous                       circumstances, Evermay Wealth, in its sole discretion, accepts
recommendations and/or services.                                            clients with a lower billable asset level in its Guided service
Investment Liquidity and Difficult to Value Assets.                         offering. If an account is fully removed from the Firmʼs
Evermay Wealth facilitates client participation in several                  management during a billing quarter, the quarterly fee is
private market investment opportunities, such as private real               prorated and the difference between the assessed fee and the
estate, private equity, private infrastructure, and private                 prorated fee is refunded back to the client.
credit. These private investments are illiquid or semi-liquid
and entail investment                                                   8

Family Office Standard Fee Schedule                                       While the annual fee is negotiable, it shall generally fall within the
                                                                          above-listed range but may be higher or lower than this range
 Account Market Value                     Annual                          based on the nature of the account. Factors affecting fee
                                          Advisory Fee
                                                                          percentages include the size of the account, complexity of asset
First $5,000,000                          1.15%                           structures, and other factors. Evermay Wealth, in its sole
$5,000,001 - $10,000,000                  0.75%                           discretion, may consider a fixed annual advisory fee in lieu of an
$10,000,001 - $25,000,000                 0.65%                           asset-based management fee. Investment Advisory services begin
$25,000,001 - $50,000,000                 0.55%                           on the effective date of the Investment Advisory Agreement
$50,000,001 +                             0.45%                           unless otherwise stated in writing by Evermay Wealth. The Firm
                                                                          offers a discretionary householding advisory fee program,
Integrated Standard Fee Schedule                                          sometimes referred to as “accounts related for fee billing
 Account Market Value                     Annual                          purposes,ˮ whereby the Firm can at its discretion aggregate
                                          Advisory Fee                    assets of multiple related accounts and apply the aggregated
First $5,000,000                          1.00%                           Account Market Value for purposes of calculating the Annual
                                                                          Advisory Fee for each account. In certain circumstances, the
$5,000,001 - $10,000,000                  0.60%
                                                                          aggregated Account Market Values allow clients to reach a higher
$10,000,001 - $25,000,000                 0.50%
                                                                          breakpoint on the tiered fee schedule and pay a lower Annual
$25,000,001 - $50,000,000                 0.40%
                                                                          Advisory Fee.
$50,000,001 +                             0.30%
                                                                          Evermay Wealth will include the entire market value of margin
Guided Standard Fee Schedule                                              assets when computing its advisory fee. Accordingly, the advisory
Account Market Value                      Annual                          fee for clients that hold a margin balance shall be based upon the
                                          Advisory Fee                    higher margined account value, resulting in the Firm earning a
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