Norris Perne & French LLP

Item 5. Fees and Compensation

Exchange Traded Fund Management Services

NPF charges a unitary fee of 0.40% for the management of NPFE, which is calculated daily and paid monthly. NPF pays the cost
of nearly all fund operations and administration from its unitary fee, except for brokerage commission costs, interest charges on
short sales or other borrowings, taxes and related services, and extraordinary expenses of NPFE. More information about
brokerage costs can be found in Item 12 of this brochure.

Separately Managed Account Services

Our fees for Separately Managed Account Services are based upon a percentage of assets under management, subject to the
minimum fee of $10,000 for new accounts. Our fees will not exceed the following fee schedule, subject to the minimum fee.
Exceptions to the fee schedule can be made at NPF’s discretion.

 Assets Under Management ($)               Annual Fee (%)

 First $2 million                                     0.90%
 Next $3 million                                      0.75%
 Over $5 million                                      0.55%

Portfolio management fees are usually charged quarterly in advance at a rate of ¼ of the annual rate. Our fee calculation is
based upon the net value of the assets in the client account on the last business day of the previous quarter. The net value of the
assets in the account includes interest accrued on fixed income holdings as of the date of valuation, as well as dividends
recorded before the quarter end but paid after the quarter-end before we complete our billing cycle. We do not adjust fees for
cash flows into or out of accounts. Our accounting policies may be different from those of the custodian used by our clients,
resulting in different values used for our billing purposes, depending on each custodian’s valuation procedures.

Depending on the particular arrangement with each client, we send clients an invoice to pay by check or directly debit their
custodial accounts for portfolio management fees.

Planning Services

In certain circumstances, we may charge clients for planning services on an hourly or project basis. While fees vary based on
the complexity of the plan or project and the range of services we are retained to provide, our hourly rate ranges from $250 to
$500 per hour, based on the complexity of the work involved. Fees are payable as services are performed. We estimate how
long a project will take and provide the client with a quote based on the hourly rate. We may require an advance deposit, and
the balance becomes due and payable upon completion of the service. The deposit amount is noted in the agreement the client
signs.

Fees in General

Fees for all services may be negotiable based upon NPF’s sole discretion.

We may group related client accounts for the purpose of determining the account size and/or annualized fee, depending on
the nature of the relationship. Older client agreements may be governed by fee schedules different from those listed above.

Clients who own NPFE and use our separately managed account services receive a credit towards their advisory fees for the
portion of NPFE’s unitary fee that is earned as an advisory fee by NPF.

We do not collect fees in excess of $1,200 more than six months in advance of services rendered.

Account Termination

Clients have a period of five (5) business days from the date of signing the agreement to unconditionally rescind the agreement
and receive a full refund of fees. Thereafter, the client may terminate the agreement by providing us with a 30-day written
notice at our principal place of business. Upon termination of an account, any prepaid, unearned fees will be promptly
refunded, and any earned, unpaid fees will be due and payable. Occasionally, a complex termination may result in no fees being
refunded.

Mutual Fund and ETF Fees and Expenses

All fees paid to our firm for investment advisory services are separate and distinct from the fees and expenses charged by
mutual funds and ETFs to their shareholders. These fees and expenses are described in each fund's prospectus. These fees
reflect the internal costs of the fund. A client could invest in a mutual fund or an ETF directly, without the services of our
firm. Accordingly, the client should review both the fees charged by the funds and ETFs and the fees charged by us to fully
understand the total amount of fees to be paid by the client and to thereby evaluate the advisory services being provided.

Brokerage and Custodial Fees

In addition to advisory fees paid to our firm, clients will also be responsible for all transaction, brokerage, trade- away
and custodial fees incurred as part of their account management. Please see Item 12 of this Brochure for important
disclosures regarding our brokerage practices.

Item 7. Types of Clients

NPF generally provides Separately Managed Account services to individuals, foundations, endowments, pension and profit-
sharing plans, trusts, estates, charitable organizations, corporations and other business entities. NPF provides Exchange Traded
Fund services to NPFE.

We will generally suggest a minimum relationship size of $1,500,000 (with a minimum annual fee of $10,000).