Hollander Asset Management LLC

Item 5. Fees & Compensation

 Hollander uses the same fee structure for Portfolio Management Services and Consulting
 Services. The fee schedule set forth below is based on a percentage of assets under
 management or consultation, as appropriate (hereinafter the “Management/Consultation
 Fee”) plus, if applicable, an annual incentive fee (hereinafter the "Incentive Fee") for
 eligible and qualified clients.

 The Management/Consultation Fee will be charged as a percentage of assets under

management or consultation, as appropriate, ranging up to 0.5%, based on the
complexity of the client’s individual portfolio and the size of the client’s portfolio.
Hollander will quote a percentage fee to each client based on both the complexity and
total dollar value of that account.

Hollander may, in some cases, provide Portfolio Management Services or Consulting
Services on a Fixed Fee schedule basis. This fixed fee will be on a case by case basis and
agreed upon with the client. In no cases will the fixed fee exceed 0.5% of assets under
management.

Further, it is important to note that for clients assessed a fee based on percentage of assets
under management or consultation, that cash and cash equivalents will be included for
billing purposes.

In the event any performance-based or incentive allocation arrangements may be entered
into, such fees would be determined at the end of each calendar year Hollander and
based on an incentive fee of a client’s account performance above a threshold specified in
the executed investment advisory agreement. This incentive fee will be negotiated on a
client- by-client basis and will be reflected on the investment management agreement.

To qualify for an incentive fee and fee schedule, a client must be eligible and a qualified
client and either demonstrate a net worth of at least $2,200,000 or must have at least
$1,100,000 under management.

The maximum annual fee charged to clients utilizing Third Party Managers will not
exceed 1%. Our firm will debit fees for this service as disclosed in the executed advisory
agreement between the client and our firm. This fee shall be in addition to any fees
assessed by the chosen third party money manager. The third party money managers we
recommend will not directly charge you a higher fee than they would have charged
without us introducing you to them. Third party money managers establish and maintain
their own separate billing processes over which we have no control. They will directly
bill you and describe how this works in their separate written disclosure documents.

As part of the process outlined above, clients understand the following:

   a) The client’s independent custodian sends statements at least quarterly showing the
       market values for each security included in the Assets and all account
       disbursements, including the amount of the advisory fees paid to our firm;
   b) Clients will provide authorization permitting our firm to be directly paid by these
       terms. Our firm will send an invoice directly to the custodian; and
   c) If our firm sends a copy of our invoice to the client, a legend urging the comparison
       of information provided in our statement with those from the qualified custodian
       will be included.

Negotiability of Fees
In certain circumstances, all fees and account minimums may be negotiable. In addition,
certain family members and personal acquaintances of Hollander’s affiliated persons may
receive advisory services at a discounted rate which is not available to general advisory
clients.

Billing Process

The Management/Consultation Fee will be invoiced monthly or quarterly as agreed with
a client, in arrears at the beginning of each calendar period. The fees to be billed are
calculated based on account value at the beginning of the calendar year or inception of
the contract. Once the calendar year is completed, Hollander conducts an audit of billing
and reviews any discrepancy between the amount paid by the client Year To Date and
the agreed upon fee in the service agreement. Clients are then required to pay the
difference between the two calculations prior to March of the following year. Hollander
further conducts periodic reviews of billing throughout the year to avoid instances where
clients would pay fees exceeding the agreed upon advisory fee. In any instance where
debited fees need to be adjusted downwards, Hollander would conduct the adjustment
within 6 months of the required adjustment.

Other Fees and Expenses

Clients are also responsible for the fees and expenses charged by custodians and imposed
by broker-dealers, including, but not limited to, any commissions, custody fees,
transaction charges or mark-up/mark-downs imposed by a broker-dealer with which
Adviser effects transactions for a client’s account(s).

All fees paid to Adviser for investment advisory services are separate and distinct from
fees and expenses charged by mutual funds and exchanged traded funds (“ETF’s”) to
their shareholders. These fees and expenses are described in each fund’s prospectus.
These fees will generally include a management fee, other fund expenses, and a possible
distribution fee for mutual funds.

Termination

A client agreement may be canceled at any time, by either party, for any reason upon
receipt of prior written notice. As disclosed above, our fees are paid in arrears of services
provided. Upon termination of any account, any prepaid, unearned fees will be promptly
refunded. In calculating a client’s reimbursement of fees, Adviser will pro rate the
reimbursement according to the number of days remaining in the payment period. If
applicable, any earned, unpaid fees will be due and payable upon termination.

The client has the right to terminate an advisory agreement upon prior written notice

without penalty after entering into the agreement.

Item 7. Types of Clients

 Hollander offers a combination of the above-mentioned advisory services, where
 appropriate, to high net worth individuals, ultra high net worth families, trusts, estates or
 charitable organizations and corporations or other business entities. Hollander may also
 render investment advice to foreign-registered and unregistered investment funds and
 private pooled investment vehicles. Hollander can have domestically-based clients as
 well as foreign entities and individuals.

 A minimum of $10 million of assets under management is required for these services.
 This account size may be negotiable under certain circumstances. Hollander may group
 certain related client accounts for the purposes of achieving the minimum account size
 and determining the annualized fee.