Sterling Partners Equity Advisors LLC

Item 5 - Fees and Compensation

Compensation and Fee Schedules

In consideration of the investment management services provided, SPEA charges management
fees to its clients. Clients generally pay SPEA a management fee of 0.9% of assets under
management per year, quarterly in advance. Management fees are generally deducted from
individual client accounts and paid to SPEA by the custodian. SPEA has however, in its sole
discretion, the ability to elect to reduce or waive all or a portion of the management fee. Such
factors SPEA considers in waiving or reducing all or a portion of the management fee include, but
are not limited to, the size of an investor's account, an investor's relationship to SPEA and its
employees and its affiliates, and strategic relationships. Management fees are typically waived or
reduced with respect to SPEA or its related persons and/or certain business associates or other
“friends and family” of SPEA.

Deduction of Fees; Timing of Payments; Termination

SPEA is authorized under the investment management agreements in effect with each client from
time to time (each, an “Investment Management Agreement”) to charge and deduct management
fees directly from the assets in each account quarterly and in advance. Payment of management
fees is generally made in the first month of each quarter and in accordance with the terms of the
Investment Management Agreement with each client.

Investment Management Agreements generally can be terminated by SPEA on five (5) business
days prior written notice and generally can be terminated by a client immediately upon receipt of
notice thereof. Upon termination of any advisory relationship with SPEA’s notice thereof, any
prepaid, unearned Management Fees will be refunded to such account, and any earned, unpaid fees
will be due and payable.

Other Fees and Expenses

In addition to the investment advisory services discussed above, clients can incur third-party
investment management, brokerage, custodial, administration, reporting/performance
measurement and other transaction fees in connection with the implementation of their investment
management strategy. These additional fees are negotiated between the client and each third party
directly. Generally, compensation received by the Firm only comes from its clients. Wealth
Advisory clients can also incur third-party fees in connection with their investments in ETFs,
mutual funds and index funds.

Types of Clients

SPEA generally provides discretionary investment management services to individuals (including
high net worth individuals and family foundations) and can provide discretionary advice to
institutional investors (such as corporate pension funds), estate planning trusts, families, family
limited partnerships, family offices and related trustees, as well as the clients of brokers and
registered investment advisers. SPEA can also act as a sub-adviser to other investment advisers.
Generally, these clients are “qualified purchasers” as defined in the Investment Company Act of
1940, as amended.

Minimum Investment Requirements

In general, the minimum investment commitment required of an investor to participate in a
separately managed account is $1,000,000; however, SPEA has discretion to increase or reduce
the minimum investment commitment at any time. The minimum investment commitment can be
waived or reduced with respect to SPEA’s related persons and/or certain business associates or
other “friends and family” of SPEA.