Taber Asset Management LLC

Item 5 - Fees and Compensation
Advisory Services:

Our fee schedule is as follows:

Assets Under                      Annualized Fee

Management

$100,000 – 499,999                    1.25%
$500,000 - 999,999                    1.10%
$1,000,000 – 1,999,999                1.00%
$2,000,000 - 3,499,999                0.80%
$3,500,000 – 4,999,999                0.65%
$5,000,000 – 9,999,999                0.50%
$10,000,000 – 24,999,999              0.48%
$25,000,000 – 49,999,999              0.46%
$50,000,000 – 74,999,999              0.44%
$75,000,000 - 99,999,999              0.42%
$100,000,000+                         0.40%

The client pays Taber Asset Management for its investment management services based upon the
client’s assets under management as set forth in above fee schedule. Advisory fees are negotiable.
Such fees shall be assessed quarterly based on the ending value of the account on the last day of the
previous quarter. Accounts opened in mid-quarter will be assessed at a pro-rated management fee.
Fees are payable quarterly in advance and such fees are deducted from client's account(s) quarterly
within thirty (30) days of the beginning of the calendar quarter.

Fees are calculated on an incremental basis and are subject to change with 30 days’ written notice.
Certain clients of Taber Asset Management with pre-existing relationships may initially be charged
fees which are less than those set out above.

We maintain a Limited Power of Attorney or Trading Authorization for all discretionary accounts
for the purposes of directing and/or otherwise effecting investments on behalf of the managed
account. The Limited Power of Attorney or Trading Authorization extends on most accounts for the
direct payment of our fees and/or the payment of any commissions, custodial fees and or other
charges incurred by the account(s).

Most of our clients pay for our investment advisory services through a direct debit to their accounts
quarterly. We send a debit notice to clients in the mail to notify them of the amount to be debited.
This notice is not a billing invoice and does not require a response.

Financial Planning:

Comprehensive Financial Planning Fee: We charge a minimum of $3,500 for a comprehensive
financial plan, with half paid upon execution of the agreement and the remaining balance to be paid
upon delivery of the financial plan. Payment is due upon the receipt of an invoice from the Advisor.
Checks should be made payable to Taber Asset Management

Hourly Financial Planning Fee: We charge an hourly fee of $300 for General Financial Planning and
advice, with a $300 initial retainer due upon execution of the agreement. Payment is due upon the
receipt of an invoice from the Advisor. Checks should be made payable to Taber Asset Management

A separate Financial Planning Agreement is executed with each client using this service. You may
terminate this agreement without penalty with five business days of signing the agreement. by
agreement. Our clients will be entitled to a refund of any prepaid planning fees less a charge for any
time spent on preparing the plan up to the point of termination. After the five-business day period,
our hourly clients will owe for any time spent on preparing the plan up to the point of termination
based on the hourly rate agreed upon in the financial planning agreement. All fees are negotiable
and confirmed in writing by agreement.

Termination

Advisory Services: The relationship between the parties may be terminated by either party upon 30
days’ written notice. The client will be entitled to a pro rata refund of any pre-paid fees based on
the number of days remaining in the quarter after termination. The advisory fee due for the
termination period shall be prorated and shall be based on the latest valuation of the assets as of
the effective date of termination. Fees will be refunded within two weeks of termination. Client may
request this in writing to the advisor.

Financial Planning: The relationship between the parties may be terminated by either party upon 5
days’ written notice.

Additional Fees and Expenses

To the extent mutual funds are selected by Taber Asset Management to fill components of the
overall investment strategy, the annual advisory fee does not include the customary fees and
expenses associated with investing in mutual funds or other costs of establishing and maintaining
an account with mutual funds including Rule 12b-1 fees and expenses. Client is advised that, in
addition to the annual advisory fee, some mutual funds in which assets are invested will incur
separate other related expenses.

Advisory fees payable to us do not include all the fees you will pay when we purchase or sell
securities for your Account(s). The following list of fees or expenses are what you pay directly to
third parties, whether a security is being purchased, sold or held in your Account(s) under our
management. Fees charged are by the broker dealer / custodian.

We do not receive, directly or indirectly, any of these fees charged to you. They are paid to your
broker, custodian or the mutual fund or other investment you hold. The fees include:

   •   Brokerage commissions;
   •   Transaction fees;
   •   Exchange fees;
   •   SEC fees;
   •   Advisory fees and administrative fees charged by Mutual Funds (MF), Exchange Traded
       Funds (ETFs)
   •   Advisory fees charged by sub-advisers (if any are used for your account);
   •   Custodial Fees;
   •   Deferred sales charges (on MF or annuities);
   •   Odd-Lot differentials;
   •   Deferred sales charges (charged by MFs);
   •   Transfer taxes;
   •   Wire transfer and electronic fund processing fees;
   •   Commissions or mark-ups / mark-downs on security transactions;

Item 7 - Types of Clients
We provide our services to the following types of Clients:

   •   Individuals, including high net worth individuals

   •   Trusts, and estates

   •   Pension and Profit-Sharing Plans

   •   Charitable Organizations

   •   Corporations or other business entities

Minimum Account Size

For managed accounts, a minimum initial account size of $500,000 is generally required. We
reserve the right to negotiate a lower minimum account size. If the new account is related to an
existing account, we may accept a new account with a minimum of $100,000.