Lava Creek Capital Management LLC

Item 5: Fees and Compensation
    How We Are Compensated for Our Advisory Services

    Asset Management:

                   Assets Under Management                     Maximum Annual Percentage of Assets
                                                                           Charge
                         $0 to $249,999                                    2.00%
                     $250,000 to $499,999.99                               1.75%
                     $500,000 to $749,999.99                               1.50%
                     $750,000 to $999,999.99                               1.25%
                        Over $1,000,000                                    1.00%

    The annual fees for our Asset Management service shall be based on the market value of the assets
    under management. Our firm’s fees are billed on a pro-rata annualized basis quarterly in arrears
    based on the value of the clients’ account on the last day of the quarter. Our firm bills on cash unless

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    indicated otherwise in writing. Our fees are negotiable under certain circumstances, and we believe
    that our annual fees are reasonable in relation to the fees charged by other investment advisers.

    Fees will generally be automatically deducted from your managed account. In rare cases we will
    agree to directly bill clients. As part of the fee deduction process, you understand and acknowledge
    the following:

         a) Clients must provide our firm with written authorization permitting direct payment of
            advisory fees from their account(s) maintained by a custodian who is independent of our
            firm;
         b) Our firm sends quarterly statements to the client showing the fee amount, the value of the
            assets upon which the fee is based, and the specific manner in which the fee is calculated as
            well as disclosing that it is the client’s responsibility to verify the accuracy of fee calculation,
            and that the custodian does not determine its accuracy; and
         c) The account custodian sends a statement to the client, at least quarterly, showing all account
            disbursements, including advisory fees.

    Sub-Advisory Services:

    For accounts where our firm serves as sub-advisor, the client will be billed a fee outlined in the
    signed tri-party agreement between our firm, the client, and the other investment advisor.

    Other Types of Fees & Expenses

    Clients will incur transaction charges for trades executed in their accounts. These transaction fees
    are separate from our fees and will be disclosed by the custodian that the trades are executed
    through. Charles Schwab & Co., Inc. (“Schwab”) does not charge transaction fees for U.S. listed
    equities and exchange traded funds.

    Also, clients will pay the following separately incurred expenses, which we do not receive any part
    of: charges imposed directly by a mutual fund, index fund, or exchange traded fund which shall be
    disclosed in the fund’s prospectus (i.e., fund management fees and other fund expenses).

    Termination & Refunds

    We charge our fees quarterly in arrears. You need to contact us in writing and state that you wish to
    terminate our services. Upon receipt of your letter of termination, we will proceed to close out your
    account and charge you a pro-rata advisory fee(s) for services rendered up to the point of
    termination.

    Commissionable Securities Sales

    We do not sell securities for a commission. In order to sell securities for a commission, we would
    need to have our associated persons registered with a broker-dealer. We have chosen not to do so.

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Item 7: Types of Clients & Account Requirements
    We have the following types of clients:
         •    Individuals and High Net Worth Individuals;
         •    Trusts, Estates or Charitable Organizations;
         •    Pension and Profit Sharing Plans
         •    Corporations, Limited Liability Companies and/or Other Business Types
         •    Sub-Advisor to other registered investment advisors.

    Our requirements for opening and maintaining accounts or otherwise engaging us:
         •    We require a minimum account balance of $250,000 for our Asset Management service.
              Generally, this minimum account balance requirement is not negotiable and would be
              required throughout the course of the client’s relationship with our firm.