NBZ Investment Advisors LLC

Item 5       Fees and Compensation

General Fee Information
A client agreement may be cancelled at any time, by either party, for any reason upon receipt of written notice.
As disclosed below, investment management fees are paid in advance of services provided. In the event of
termination, any paid but unearned fees will be promptly refunded to the client based on the number of days
that the account was managed, and any fees due to NBZ from the client will be invoicedor deducted from
the client’s account prior to termination. The client has the right to terminate an agreement without penalty
within five business days after entering into the agreement.

All fees paid to NBZ for investment advisory services are separate and distinct from the fees and expenses
charged by mutual funds and/or ETFs 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. A client could invest in a mutual fund directly, without our services. In that case,the client
would not receive the services provided by our firm which are designed, among other things, to assist the
client in determining which mutual fund or funds are most appropriate to each client’s financial condition and
objectives. Accordingly, the client should review both the fees charged by funds, brokers, NBZ and others
to fully understand the total amount of fees to be paid by the client and to therebyevaluate the advisory
services being provided.

In addition to our advisory fees, clients are also responsible for the fees and expenses charged by custodians
and imposed by broker dealers, including, but not limited to, any transaction charges imposed by a broker
dealer with which an independent investment manager effects transactions for the client’s account(s).
Please see Item 12 – Brokerage Practices for additional information.

NBZ does not accept or charge commissions for the purchase or sale of any investment product. We also do
not receive any 12b-1 fees or sales loads from mutual funds.

The annualized fee for Investment Management Services is charged as a percentage of assets under
management, according to the following tiered schedule:

             Assets Under Management                  Annual Fee
             First $500,000                           0.75%
             Next $2,500,000                          0.50%
             Balance above $3 Million                 Negotiable

Fees are charged quarterly, payable in advance, based on the value of assets under management as of the last
business day of the prior quarter. Clients can choose to pay the fee directly or have the fee debited from their
account(s).

We may group certain related client accounts for the purposes of determining the annualized fee. NBZ does
not generally require a minimum account value; however, we may decline to manage an account of insufficient
size to properly diversify its investments.

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

Billing on Cash and Cash Equivalents:
Client accounts will typically hold cash or cash equivalents (“Cash”) as a part of the investment strategy, and
accordingly clients are generally billed on Cash. Cash held in client accounts that is earmarked for future
distributions is excluded from billing. Additionally, certain clients have negotiated terms that exclude Cash
from billing.

Consulting Services Fees
NBZ’s Consulting Services fee is determined based on the nature of the services being provided and the
complexity of each client’s circumstances. Our Consulting Services fees are calculated and charged on an
hourly basis, ranging from $245-$350 per hour. An estimate for the total hours is determined at the start of
the advisory relationship.

Fees are due and payable upon completion of the consulting service. A retainer may be requested upon
completion of NBZ’s fact-finding session with the client; however, advance payment will never exceed
$500 for work that will not be completed within six months.

Item 7       Types of Clients

NBZ serves individuals, high net worth individuals, pension and profit-sharing plans, trusts and estates.
Although NBZ has not established a set minimum portfolio size or minimum annual fee, portfolios must be
of sufficient size to achieve diversification of investments. Therefore, NBZ may decline accounts of
insufficient size.