James Investment Research Inc

Item 5    Fees and Compensation
                            INVESTMENT SUPERVISORY SERVICES ("ISS")
                            INDIVIDUAL PORTFOLIO MANAGEMENT FEES
Our annual fees for Investment Supervisory Services are based upon a percentage of assets under management,
including cryptocurrency assets, and generally range from 0.25% to 2.50% for individually managed accounts.
Management fees for model accounts in wrap fee programs managed by JIR generally range from 0.45% to
0.75%.

JIR has determined the following fee schedules. Management reserves the right to negotiate any fees if economies
of scale, market conditions, client needs or other conditions warrant a departure from the standard fee schedule.
Typically, all fees for individually managed accounts, including cryptocurrency assets, are billed in advance at
the beginning of each calendar month or quarter based upon the value (market value or fair market value in the
absence of market value, plus any credit balance or minus any debit balance) of the client's account at the end of
the previous month or quarter; however some model wrap fee clients are invoiced at the end of each calendar
quarter, depending on the client's broker-dealer. Our services may be terminated, by the client or ourselves, at any
time upon written notice to the other. In this event, management fees are refunded to the client's account on a pro-
rata basis according to the number of billing days left in the period.

For Equity and Balanced individually managed discretionary accounts, including International and
cryptocurrency accounts, our typical annual fees are 1.25% on the first $1,000,000 and 0.50% on assets over
$1,000,000. For charitable giving accounts, our annual fee for the first $1,000,000 is reduced to 1.00%. Where
accounts are managed for several related entities, fees are determined by negotiation. Where supervisory services
are performed for banks, outside mutual funds, institutional accounts, or other clients as deemed appropriate by
the firm, fees will be determined by mutual agreement and are normally between 0.50% and 0.75% annually.

For Cash and Cash Equivalents discretionary accounts managed individually, our annual fee is 0.25% of the
average daily account balance.

For Micro-capitalization discretionary accounts individually managed, our annual fees are 2.50% for the first
$5,000,000 and 2.00% on amounts over $5,000,000.

For Small-capitalization discretionary individually managed accounts, our annual fees are 1.00% on the first
$20,000,000; 0.75% on assets greater than $20,000,000 up to $50,000,000; and 0.65% on assets over $50,000,000.

For discretionary Fixed Income individually managed accounts, our typical annual fees are 0.50% for the first
$5,000,000, with a $1,000,000 investment minimum. For account balances over $5,000,000, fees will be
determined by negotiation. If Fixed Income portfolios are managed for clients in addition to Balanced or Equity

accounts, fees will be determined by negotiation, normally at the rate of 0.50% for the first $1,000,000. Public
funds are generally negotiated.

Unsupervised assets are typically charged an annual fee of 0.25%. JIR management considers the client's overall
household assets and anticipated future assets under management when negotiating fees.
The annual fee charged by sub-advisors is 0.15%. The sub-advisor’s fee shall be included in the advisory fee
charged by our firm. Our firm debits our advisory fees as described in the executed advisory agreement between
the client and our firm. Sub-advisors bill us directly for their fee. The sub-advisors that we recommend will not
directly charge you a higher fee than they would have charged without us introducing you to them.

Except where negotiated, fees for non-discretionary individually managed accounts can be up to 20% higher than
those for discretionary accounts.

JIR has, in the past, and may in the future, work as sub-advisor to other fund managers, including banks, advisers
or brokers, or as the manager of a bank's commingled trust fund(s). Under these arrangements, the fund adviser
typically provides services that JIR might normally furnish. Fees are set by negotiation with the fund manager in
these cases. We reserve the right to enter into sub-advisory or additional wrap relationships, at negotiated fee
schedules. For all private accounts, corporate officers are authorized to negotiate fees subject to management
approval.

Individually managed accounts below $100,000 may be charged $50 per account at the beginning of each calendar
year. JIR management will take into consideration the client’s overall household assets and anticipated future
assets under management if waiving the fee.

James Investment Research, Inc. does not, itself, impose a minimum opening account size for model wrap fee
accounts; however, most broker-dealer managed account sponsors generally require a minimum investment of
$100,000. The account size may be negotiated under certain circumstances.

Limited Negotiability of Advisory Fees: Although James Investment Research, Inc. has established the
aforementioned fee schedule(s), we retain the discretion to negotiate alternative fees on a client-by-client basis.
Client facts, circumstances and needs are considered in determining the fee schedule. These include the
complexity of the client, assets to be placed under management, anticipated future additional assets; related
accounts; portfolio style, account composition, reports, among other factors. The specific annual fee schedule is
identified in the contract between the adviser and each client.

We may group certain related client accounts for the purpose of achieving the minimum account size requirements
and determining the annualized fee for individually managed accounts.

Discounts not generally available to our advisory clients are sometimes offered to family members of associated
...

Item 7      Types of Clients
James Investment Research, Inc. provides advisory services to the following types of clients:
   •     Individuals (other than high net worth individuals)
   •     High net worth individuals
   •     Investment companies (including mutual funds)
   •     Pension and profit-sharing plans (other than plan participants)
   •     Charitable organizations
   •     Corporations or other businesses not listed above
   •     Other* entities such as:
*Foundations and Endowments, Trusts, and Financial Institutions accounts.

As previously disclosed in Item 5, our firm has established certain minimum initial account requirements, based
on the nature of the service(s) being provided. For a more detailed understanding of those requirements, please
review the disclosures provided above.