Graver Capital Management 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
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. Wealth management fees are based on the market value of assets under management at
the end of the prior quarter. Wealth management fees are based on the following schedule:

                  Assets Under Management ($)               Annual Rate (%)
                  First $2,000,000                                1.00%
                  Next $2,000,000                                 0.50%
                  $4,000,000 and over                             0.25%
          *Assets placed in alternative investments will be charged 0.25%, pursuant to the terms of the wealth
          management agreement.

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. The Client’s fees will take into
consideration the aggregate assets under management with the Advisor. All securities held in accounts managed by
Graver Capital will be independently valued by the Custodian. The Advisor will conduct periodic reviews of the
Custodian’s valuation to ensure accurate billing.

The Advisor’s fee is exclusive of, and in addition to any applicable securities transaction and custody fees, and other
related costs and expenses described in Item 5.C below, which may be incurred by the Client. However, the Advisor
shall not receive any portion of these commissions, fees, and costs.

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] at the beginning of the respective quarter. The amount due is calculated by applying the
quarterly rate (annual rate divided by four (4) multiplied by the number of days in the quarter) to the total assets under
management with Graver Capital at the end of the prior quarter. The Advisor will perform reconciliations on a quarterly
basis to adjust for assets that are deposited into or withdrawn from an Account after the start of the quarter. An
adjustment will be made in the form of a credit or debit in the following quarter to reflect the interim change in portfolio
value from the date of the deposit or withdrawal until the end of the quarter. Clients will be provided with a statement,
at least quarterly, from the Custodian reflecting deduction of the wealth management fee. Clients provide written
authorization permitting advisory fees to be deducted by Graver Capital 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.

C. Other Fees and Expenses
Clients may incur certain fees or charges imposed by third parties, other than Graver Capital, 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 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 Graver Capital are separate and distinct from
these custody and execution fees.

                                               Graver Capital Management, LLC
                                   1550 Old Henderson Road, Suite E-273, Columbus, OH 43220
                                           Phone: (614) 499-2500 | Fax: (614) 633-3273
                                                http://www.gravercapmgmt.com

In addition, all fees paid to Graver Capital for investment advisory services are separate and distinct from the
expenses charged by mutual funds and ETFs to their shareholders, if applicable. These fees and expenses are
described in each fund’s prospectus. These fees and expenses will generally be used to pay management fees for
the funds, other fund expenses, account administration (e.g., custody, brokerage and account reporting), and a
possible distribution fee. A Client may be able to invest in these products directly, without the services of Graver
Capital, but would not receive the services provided by Graver Capital which are designed, among other things, to
assist the Client in determining which products or services are most appropriate for each Client’s financial situation
and objectives. Accordingly, the Client should review both the fees charged by the fund[s] and the fees charged by
Graver Capital to fully understand the total fees to be paid. Please refer to Item 12 – Brokerage Practices for
additional information.

D. Advance Payment of Fees and Termination
Wealth Management Services
Graver Capital may be compensated for its wealth management services in advance of the quarter in which services
are rendered. Either party may terminate the wealth management agreement, at any time, by providing advance
written notice to the other party. The Client may also terminate the wealth management agreement within five (5)
business days of signing the Advisor’s agreement at no cost to the Client. After the five-day period, the Client will incur
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Item 7 – Types of Clients

Graver Capital offers investment advisory services to individuals, high net worth individuals, trusts, and estates.
Graver Capital generally does not impose a minimum relationship size.