RNC Capital Management LLC

Fees and Compensation

Description
Fees are payable quarterly in advance at the beginning of each calendar quarter. Fees will be based on
the total market value of the account. Net additions during the quarter will be billed on a pro-rated
basis. A nonrecurring, non-refundable one time set up fee of $250 is payable in advance. Genter Capital
has a minimum annual fee of $4,750 for accounts below the standard minimum. The standard fee
schedule for all of Genter Capital’s products is as follows:

  Accounts under $3 million                  Fee
  First $200,000                             2.00%
  Next $200,000                              1.50%
  Next $2,600,000                            1.00%

  Accounts over $3 million                   Fee
  First $5,000,000                           1.00%
  Over $5,000,000                            0.75%

  Fixed Income Accounts                      Fee
  $1,000,000 minimum account size            0.50%

Fees may be discounted or negotiated at Genter Capital’s discretion. As an example, consideration may
be given, in some circumstances, to the combination or related accounts for the purpose of meeting fee
break points as well as fee reductions for accounts that are represented by independent professional
business managers. Genter Capital occasionally accepts smaller accounts at its discretion but may
require a minimum fee on such accounts. Smaller accounts are more difficult to diversify and often do
not have the same number of securities as larger accounts in the same strategies in addition, the fees as
a percentage of assets under management will be higher than other clients. Genter Capital has older
existing client relationships pursuant to prior fee schedules that are no longer in effect. Thus, fees being
charged to existing clients may be different than the fees set out in the current fee schedule.

Clients may terminate an investment advisory contract at any time by delivering thirty (30) day, prior
written notice to Genter Capital and will receive a pro-rated refund of management fees previously paid
to Genter Capital.

Direct Debit of Fees
Genter Capital has the ability to directly debit fees from client accounts. Currently, the investment
management agreement stipulates the direct debit of fees from the client accounts. Clients have the
option to have their fees billed separately or at specific periodic intervals, by making prior arrangement
with Genter Capital.

Other Fees
Genter Capital may invest client assets in one or more pooled investment vehicles, such as mutual funds
and exchange-traded funds (including funds managed by Genter Capital) if such investments are
consistent with the investment objectives and policies of the client accounts involved. If Genter Capital
makes such an investment on behalf of its clients, those clients will be responsible, indirectly as
investors in the pooled investment vehicles, for a portion of the operating expenses of the pooled
investment vehicles in which they are invested, in addition to the advisory fees those clients pay directly
to Genter Capital. In effect, those clients would be paying multiple advisory fees. If the mutual fund in
which a client is invested is also advised by Genter Capital, and/or Genter Capital receives an asset-
based fee for providing certain shareholder services, then the multiple fees will inure directly to Genter
Capital’s benefit.

Clients may incur fees in addition to the management fees paid Genter Capital. This can include
brokerage commissions and other custodian fees. Please refer to the section entitled Brokerage Practices
for more information.

Types of Clients

Description
Genter Capital has many types of clients including but not limited to pension and profit-sharing plans,
investment companies, foundations, endowments, individuals, high net worth individuals,trusts,
corporations, charitable organizations, and State or local government entities and their respective
agencies.

Account Minimums
Genter Capital has a minimum account size of $1 million for fixed income accounts. It may negotiate the
account size on others and may set separate minimums for sponsored programs as discussed in the
section entitled Fees and Compensation.

Methods of Analysis, Investment Strategies and
Risk of Loss