Silver Advisors LLC

Item 5 Fees and Compensation
ADVISORY FEES

The following information describes how Silver is compensated for the advisory services we
provide to our clients. The specific manner in which fees are charged and the compensation we
receive may differ between clients depending upon the individual Engagement Agreement with
each client. Fees are negotiated with each client based on a variety of factors, such as the number
of accounts being managed, anticipated future deposits to the accounts under our management,
the level and type of services provided and/or the nature of the relationship with the client. We
may charge higher or lower fees than are available from other firms for comparable services.
Silver in its sole discretion may waive   all or a portion of our fees . Pre-existing clients may
also have older fee arrangements based on the advisory fees which were in effect at the time of
engagement.

Investment Management Fees. In consideration for providing investment management services
and pursuant to the Engagement Agreement with the client, Silver charges an annual asset-based
fee of up to 2% based on the client’s assets under management (“AUM”), billed monthly in
arrears and, for certain qualified clients and if agreed upon in writing, an additional annual
performance fee equal to 20% based on the capital appreciation in the client’s account(s). Our
performance fee may also subject to a loss carry-forward provision, also known as a “high water
mark,” so that the performance fee is only billed when the client’s account value at year end,
measured on a cumulative basis and net of any losses, exceeds the highest historic account value
as of the end of any prior calendar year.

Clients must authorize the deduction of our advisory fees from their managed accounts by the
qualified custodian, either Interactive Brokers or Schwab. Clients may elect whether advisory fees
will be calculated by our firm or by the qualified custodian. This election is made when opening
an account with the custodian and may be changed or revoked by the client at any time.

All advisory fees deducted from a client's account will be supported by an invoice provided to the
client, itemizing the fee charged.

Financial Planning Fees. Silver charges an annual flat fee for our financial planning and consulting
services. Flat fees generally range from $1,500 to $25,000. The total estimated fee, as well as the
ultimate fee that we charge the client, is based on the scope and complexity of the services being
provided. We typically require a deposit of fifty-percent (50%) of the total estimated fee be paid

Silver Advisors LLC
Form ADV Part 2A

in advance with the remainder of the fee due upon completion of our services. We shall under
no circumstances require a prepayment of more than $500 in advance when services cannot be
rendered within six (6) months.

Real Estate Consulting Fees. Silver charges an annual flat fee for our real estate consulting
services. We charge an annual flat fee of $60,000, paid in quarterly installments. The fee will be
quoted to the client prior to commencing services and listed in the agreement for services.

Additional Fees and Expenses. Clients will incur transaction charges and/or brokerage fees when
purchasing or selling securities. These charges and fees are typically imposed by the broker-
dealer or qualified custodian through which account transactions are executed. For more
information on our brokerage practices, please refer to Item 12 of this Brochure.

The fees that clients pay to our firm for investment advisory services are separate and distinct
from the fees and expenses charged by mutual funds and/or exchange traded funds (described
in each fund’s prospectus) to their shareholders. The fees charged directly by mutual funds and
exchange traded funds will typically include a management fee and other fund expenses.

To fully understand the total costs associated with their investment portfolio, clients should
review all the fees charged by mutual funds, exchange traded funds, our firm and others.

Termination. The Engagement Agreement with our clients may be terminated by either party at
any time upon thirty (30) days written notice. Upon termination of our status as the client’s
investment adviser, Silver will not take any further action with respect to the client’s account(s)
unless specifically notified by the client in writing. Clients will be responsible for instructing their
custodian and monitoring their account for the final disposition of assets.

Refunds. Fees paid in advance are considered earned and non-refundable up to the effective
date of the termination of Engagement Agreement. Upon receipt of a proper notice of
termination from the client, as described in the Engagement Agreement, we will calculate a pro-
rata refund for the unearned portion (if any) of the fee.

For clients that pay in arrears, any earned unpaid fees will be billed on a pro-rata basis based on
the amount of work performed by us up to the point of termination.

Brokerage Commissions. Silver does not receive brokerage commissions from the sale of
securities or other investment products. Our compensation for recommending securities and
investment products is limited to the advisory fees described above.

Any material conflicts of interest between clients and Silver or our employees are disclosed in
this Brochure. If at any time, additional material conflicts of interest develop, Silver will provide
our clients with written notification of those material conflicts of interest or an updated
Brochure.

Silver Advisors LLC
Form ADV Part 2A

TYPES OF CLIENTS

Silver offers investment advisory services to a diversified group of clients including individuals,
high net worth individuals, trusts, estates, pension and profit-sharing plans (other than plan
participants), non-profit/charitable organizations, and corporations and other business entities,
insurance companies. Client relationships may vary in scope and length of service.

ACCOUNT REQUIREMENTS

Silver generally requires a minimum account balance of $100,000 for our investment
management services. However, Silver in its sole discretion may waive or lower our minimum
account balance requirement based on various criteria (i.e., anticipated future additional assets
to be managed, related accounts, account composition, negotiations with the client, etc.).

For performance-based fee arrangements, clients must meet the definition of a “qualified client”
under Rule 205-3 of the Advisers Act.

Silver Advisors LLC
Form ADV Part 2A