Silvant Capital Management LLC

ITEM 5     FEES and COMPENSATION

Silvant’s fees are competitive, and higher or lower fees may be available elsewhere for the same type of
services. Silvant charges most of its clients a percentage fee per annum for investment advice based on
assets under management, payable quarterly in arrears. Assets under management include a client’s
uninvested cash position for which Silvant does not provide investment advice. Fees vary based on
account type and client services requested. Determining factors include: number and frequency of reports
and client meetings, individual security investments versus common funds, mutual funds or private fund
investments, investment guidelines and restrictions, and account size.

Silvant reserves the right to negotiate all fees and annual minimums based on individual client
considerations.
Initial fees are calculated based upon the number of days in the quarter the account came under
management. Subsequent quarters are billed in full unless clients terminate the relationship prior to the
end of the quarter, in which case the fee is prorated for the number of days prior to termination. Silvant
will invoice the client or the client’s custodian directly as instructed by the client in the investment advisory
agreement. A client may authorize its custodian to debit its account for the investment advisory fee and
remit directly to Silvant. It is important that you compare the client reports you receive directly from us to
the statements you receive from your custodian. Silvant’s standard advisory contract is cancelable by
either the client or Silvant 30 days after receipt or delivery of written notice. Other fee calculation methods
or termination conditions can be negotiated to accommodate special client requirements.
Silvant’s basic advisory fee schedules, subject to negotiation based on the above-described factors, are
set forth below. If Silvant is used by VCA or Virtus Investment Advisers, LLC (“VIA”) as subadviser in
providing advisory services to clients, such clients will not incur any increase in advisory or other fees as
a result of any such subadvisory arrangement. VCA or VIA will share its fees with Silvant when Silvant is
used to provide subadvisory services to VCA or VIA. Fees for individual accounts are primarily based on
the market value of the assets under management in accordance with the following schedules:

ADVISORY FEE SCHEDULES

 Focused Large Cap Growth and
                                   Large Cap Core Growth            Mid-Cap Growth
 Large Cap Growth

 0.60% on the first $10 million    0.40% on the first $10 million   0.70% on first $10 million
 0.45% on the next $40 million     0.30% on the next $40 million    0.55% on next $40 million
 0.25% on all over $50 million     0.20% on all over $50 million    0.40% on all over $50 million
 Minimum Annual Fee $10,000        Minimum Annual Fee $10,000       Minimum Annual Fee $10,000

Silvant also provides investment advisory services to a separately managed S&P 500 index account for
which fees have been negotiated.
In addition to Silvant’s investment management fees, a client’s account pays trading costs. See Item 12 -
Brokerage Practices. Silvant does not custody client assets, thus a client will contract separately with
qualified custodians and pay custody fees charged by its selected custodian.
Silvant acts as subadviser to one or more Mutual Funds or manage accounts that invest in such Funds or
third party Funds. To the extent that client accounts are invested in Mutual Funds, these funds generally
charge a management fee for their services as investment managers. This management fee, along with
other charges, is included in the “expense ratio” of the fund. These fees are described in each fund’s
prospectus and are in addition to the fees you pay to Silvant. However, when a Silvant portfolio manager
determines to invest assets of an individual discretionary client (excluding asset allocation strategy
accounts) in a Mutual Fund for which it (or an affiliate) also acts as adviser and/or subadviser and receives
an investment advisory fee, the Firm will offset the Mutual Fund fee against the individual advisory fee.
If the client account is in an asset allocation strategy using Mutual Funds, including the Virtus Funds, an
asset allocation fee is charged in addition to the management fees the funds pay to the adviser for
investment management of the funds.
Managed Account Programs
Generally, the Program Sponsor will pay a portion of the wrap-fee received from the Wrap Program client
to Silvant for investment management services provided to the Wrap Program Sponsor/wrap client.

Silvant’s compensation from the Wrap Program Sponsors vary, but it can generally be between 0.25% and
0.45% of assets under management in the respective Wrap Program account for the various Silvant
strategies. Dual contract relationship fees may be higher. Generally, fees are payable quarterly in advance.
Wrap-fee clients typically receive a brochure detailing the wrap-fee program from the Program Sponsor
prior to their selection of Silvant as adviser or sub-adviser. Fees and features of each program offered by
the various Program Sponsors vary and therefore, wrap-fee clients should consult the Program Sponsor’s
brochure for the specific fees and features applicable to their program.
Some of our affiliated persons accept compensation via an internal sales bonus for the sale of securities
or other investment products, including from the sale of affiliated Mutual Funds which pay us an advisory
fee. This practice presents a conflict of interest and gives us and our affiliated persons an incentive to
recommend investment products based on the compensation received, rather than on a client’s needs.
We address conflicts that arise, including via procedures disclosing the conflicts to clients. The Firm’s
affiliated persons do not typically talk with or promote products to individuals, but rather talk with platform
...

ITEM 7     TYPES OF CLIENTS

Silvant serves as subadviser to certain investment portfolios of a registered investment company, the
family of Mutual Funds and ETFs known as the Virtus Funds pursuant to a written subadvisory agreement
with VCA and VIA. Silvant subadvises collective trust funds. Silvant also serves as an investment manager
to an Irish Collective Fund, Undertakings for Collective Investment in Transferable Securities authorized
under the European Directive (“UCITS”). Silvant also provides investment advisory services to institutional
clients including endowments and foundations, governmental and other institutional entities and WRAP
Plan Sponsors. Silvant may also provide investment advisory services to high net worth individuals.
Silvant contracts directly with the client for these services or acts as subadviser to clients contracted with
VCA pursuant to a written subadvisory agreement.
Silvant provides investment advice to certain clients of SunTrust Bank, n/k/a Truist (a former affiliate)
through a services agreement between VCA (further delegation to Silvant) and Truist.
Silvant provides model portfolios to sponsors of Managed Account Programs who deliver investment
advice to clients through separate accounts.
Silvant’s basic fee schedules for investment advisory services and supervisory services for institutional
separately managed accounts are generally subject to a minimum annual fee and an initial asset base.
However, fees and minimum initial set base amounts may be subject to modifications and negotiations to
accommodate special client requirements.