NorthStar Asset Management Company LLC

Item 5 - Fees and Compensation
Fees for investment management are tiered and calculated as a percentage of assets under management.
Fees generally range from .70% to 1.00% on an annual basis and are paid quarterly, in advance, based on
the account’s closing market value for the current quarter. Under certain circumstances fees may be
negotiated and the Firm has existing agreements for certain legacy accounts where fees are lower than the
published fee schedule. NorthStar does not currently have or require a minimum household size or impose
a minimum fee.
In addition, some employees and their family members have accounts which pay a discounted fee or for
which the fee has been waived entirely.
When valuing a security for billing, NorthStar uses that security’s closing price or reported Net Asset Value
as provided by an independent third party or custodian NorthStar believes to be reliable.

Fee Schedule Effective since 01/01/2024

                 Assets Under Management                                      Fee

                        First $2,000,000                                     1.00%

                         Next $3,000,000                                     0.80%

                     Assets over $5,000,000                                  0.70%

Fees are generally debited directly from client accounts, except in certain circumstances where clients are
billed directly.
Important information about the deduction of management fees:
    •   Authorization for NorthStar to deduct fees directly from the client’s account is provided within
        NorthStar’s standard Advisory Agreement;

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    •   While advisory fee deductions are not included on NorthStar statements, clients will receive a
        statement from the custodian which shows specific holdings as well as fee deduction; and
    •   Clients are responsible for reviewing the accuracy of the fees being billed, as the custodian will not
        do so.
Clients or NorthStar may cancel the investment management agreement by providing written notice to the
other party. Upon such notification, any fees paid in advance will be prorated subject to the provisions
within the agreement and any unearned fees returned.
Purchase and sale transactions of individual securities involve custodial charges including but not limited
to agency commissions and transaction fees. These fees are charged to the client by the client’s custodian
and NorthStar receives no portion of these fees. All fees paid to NorthStar for investment advisory services
are separate and distinct from fees and expenses charged by mutual funds, exchange-traded funds, and notes
(ETFs), and other investment products that clients may hold in their accounts. Such fees and expenses are
described in fund or ETF prospectuses. They will generally include a management fee and other fund or
ETF expenses.
NorthStar does not purchase mutual funds with front or back-end loads, or which pay distribution fees. In
the event such a mutual fund is transferred into an account, it is evaluated and may be held, for example to
convert a short-term capital gain into a more favorably taxed long-term capital gain, or to defer the tax
recognition of that gain to another year.

Margin Accounts
In limited instances, NorthStar may trade client accounts on margin if granted authorization. A margin
account may incur margin interest which will be charged by the custodian in addition to NorthStar’s
advisory fee. As the advisory fees are generally based on total assets under management, the advisory
fees could include securities purchased on margin held in a client’s account. This creates a potential
conflict of interest because the use of margin can increase the total assets under management. Clients are
under no obligation to authorize NorthStar’s use of margin. There may be separate agreements with
clients in regard to how their specific margin balance is treated based on specific circumstances.

Cash management
As part of the investment process, NorthStar will routinely maintain and actively manage a percentage
of each client’s portfolio in cash or cash equivalents. Such cash is generally used to meet short-term
client cash needs or may be maintained to pay for additional investments in securities as needed. Clients
will pay management fees on cash assets even though they may earn little to no interest and cash and
cash equivalent assets generally do not materially appreciate in value.

Item 7 - Types of Clients
NorthStar generally provides investment advice to individuals, high net worth individuals, businesses and
charitable organizations, pension and profit-sharing plans and trusts/estates and foundations. Prior to
accepting and opening an account for a client, NorthStar must determine that there is a fit between the
client’s goals and objectives and NorthStar’s philosophy and decision-making process. NorthStar does not
currently have or require a minimum household size or impose a minimum fee.