Live Oak Management Group LLC

Item 5 – Fees and Compensation

We provide asset management services for a fee.

Either party can terminate this Agreement with a 30-day written notice. For the purposes of this provision,
a contract is considered entered into when all parties to the contract have signed the contract.

Asset Management Fee Schedule
Our minimum account opening balance is $50,000, which can be negotiable based upon certain
circumstances. The fee charged is based upon the amount of money you invest. Multiple accounts of
immediately related family members, at the same mailing address, can be considered one consolidated
account for billing purposes. Fees are charged monthly, in arrears. Fees will be calculated as follows:

                             Percentage        Portfolio
                                 1.45%         Palmetto Strategy

                                 1.35%         Live Oak Strategy

                                 1.00%         Magnolia Model

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The Adviser can recommend a custom portfolio of mutual funds and ETFs suitable to the client based on
risk tolerance and time horizon. The fee for the custom portfolio will be 1%.
Our Advisory Agreement defines what fees are charged and their frequency. Fees will be assessed the
month following the billing period and will be submitted to the custodian for immediate payment. Based
on the previous month’s Average Daily Balance during the month. When services provided are for less
than a full month, the fee will be prorated for the number of days services were provided based upon the
annual rate. The fees shown above are annual fees and can be negotiable based upon certain
circumstances. Therefore, clients with similar assets under management and investment objectives can
pay significantly higher or lower fees than other clients. No increase in the annual fee shall be effective
without your consent. We believe our advisory fee is reasonable considering the fees charged by other
investment advisers offering similar services/programs. Lower fees for comparable services are available
from other sources.
The fees we charge can be deducted directly from your account at the custodian. We will instruct the
custodian to deduct the fees from your account at the end of the month. This fee will show up as a
deduction on your following month account statement from the custodian.

All recommendations developed by us are based upon our professional judgment. We cannot guarantee
the results of any of our recommendations.

Financial Planning/Consulting Fees
We do not charge a separate fee for our financial planning services. The financial planning services we
offer will be incidental to our asset management services and will be detailed in your Advisory Agreement.

Based upon your needs, we can also provide consultations throughout the year to advise and counsel you
about other financial issues. We can help you with transition planning, major transaction analysis,
coordinated with cash flow needs, retirement needs, estate planning needs, income tax planning, life and
disability insurance needs, investment needs, and college education planning.

All recommendations developed by us are based upon our professional judgment. We cannot guarantee
the results of any of our recommendations.

If the plan is implemented through us, we will receive compensation as we will provide the advisory
services recommended in the financial plan. The fees and expenses you pay for the purchase of our
services can be more or less than the expenses you would pay if you attained investment advisory and
financial planning services from another investment advisory firm or broker-dealer and are typically
determined by the broker-dealer or investment company offering the service. Therefore, a conflict of
interest can exist between our interests and your interests since we can recommend services that pay us
compensation. We have an incentive to recommend particular services based upon potential
compensation rather than your needs. This potential conflict is addressed in our Code of Ethics.

Third Party Fees
Our fees do not include brokerage commissions, transaction fees, and other related costs and expenses.
However, at our discretion, we can rebate the transaction fees, and other related costs for certain clients
as part of any fee negotiation. You can incur certain charges imposed by custodians, third party

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investment companies and other third parties. These include fees charged by managers, custodial fees,
deferred sales charges, odd-lot differentials, transfer taxes, wire transfer and electronic fund fees, and
other fees and taxes on brokerage accounts and securities transactions. Mutual funds, money market
funds and exchange-traded funds (ETFs) also charge internal management fees, which are disclosed in the
fund’s prospectus. These fees can include, but are not limited to, a management fee, upfront sales
charges, and other fund expenses. Certain strategies offered by us can involve investment in mutual funds
and/or ETFs. Load and no-load mutual funds could pay annual distribution charges, sometimes referred
to as “12(b)(1) fees”. These 12(b)(1) fees come from fund assets, and thus indirectly from clients’ assets.
We do not receive any compensation from these fees. All of these fees are in addition to the management
fee you pay us. You should review all fees charged to fully understand the total amount of fees you will
pay. Services similar to those offered by us can be available elsewhere for more or less than the amounts
we charge. Our brokerage practices are discussed in more detail under Item 12 – Brokerage Practices.

Item 6 – Performance Based Fee and Side by Side Management

We do not charge any performance-based fees or engage in side-by-side management.
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