Taylor Frigon Capital Management LLC

Item 5           Fees and Compensation

   A. The client can determine to engage the Registrant to provide discretionary advisory
      services on a fee-only basis.

         INVESTMENT ADVISORY SERVICES

         Clients that engage the Registrant to provide discretionary investment advisory services,
         generally are charged an advisory fee of 1.00% of the market value of assets placed under
         the Registrant’s management.

         Registrant’s annual investment advisory fee shall include investment advisory services,

    and, to the extent specifically requested by the client, Registrant may provide limited
    consultation services to its investment advisory clients on investment and non-investment
    related matters (including financial planning) that are generally ancillary to the investment
    advisory process. In the event that the client requires extraordinary planning and/or
    consultation services (to be determined in the sole discretion of the Registrant), the
    Registrant may determine to charge for such additional services, the dollar amount of which
    shall be set forth in a separate written notice to the client.

    The Registrant’s investment advisory fee is negotiable at its discretion, depending upon
    objective and subjective factors including but not limited to: the amount of assets to be
    managed; portfolio composition; the scope and complexity of the engagement; the
    anticipated number of meetings and servicing needs; related accounts; future earning
    capacity; anticipated future additional assets; the professional(s) rendering the service(s);
    prior relationships with the Registrant and/or its representatives, and negotiations with the
    client. As a result, similarly situated clients could pay different fees, the services to be
    provided by the Registrant to any particular client could be available from other advisers
    at lower fees, and certain clients may have fees different than those specifically set forth
    above.

    Clients should also review the disclosure in Item 4 under the heading Affiliated Private
    Funds and Affiliated Mutual Fund to better understand the manner in which the Registrant
    charges fees for clients investing in the Affiliated Private Funds and Affiliated Mutual Fund.
    To summarize, clients investing in the Affiliated Private Funds and Affiliated Mutual Fund
    are not subject to dual layers of fees but could pay the Registrant more or less than the fees
    outlined above with respect to their investments in these products.

B. Clients may elect to have the Registrant’s advisory fees deducted from their custodial
   account. Both Registrant’s Investment Advisory Agreement and the custodial/ clearing
   agreement may authorize the custodian to debit the account for the amount of the
   Registrant’s investment advisory fee and to directly remit that management fee to the
   Registrant in compliance with regulatory procedures. In the limited event that the
   Registrant bills the client directly, payment is due upon receipt of the Registrant’s invoice.
   The Registrant shall deduct fees and/or bill clients quarterly in advance, based upon the
   market value of the assets on the last business day of the previous quarter.

C. As discussed below, unless the client directs otherwise or an individual client’s
   circumstances require, the Registrant shall generally recommend that Charles Schwab and
   Co., Inc. (“Schwab”) serve as the broker-dealer/custodian for client investment advisory
   assets. Broker-dealers such as Schwab charge brokerage commissions and/or transaction
   fees for effecting certain securities transactions (i.e., transaction fees are charged for certain
   mutual funds, commissions are charged for individual equity transactions, and mark-ups
   and mark-downs are charged for fixed income transactions). In addition, client accounts
   will typically invest in mutual funds (including money market funds and the Affiliated
   Mutual Fund) and ETFs that have various internal fees and expenses (i.e., management
   fees), which are paid by these funds but ultimately borne by clients as investors. These
   internal fees and expenses are in addition to the fees charged by the Registrant, unless the
   Registrant otherwise agrees to waive its fees. When beneficial to the client, individual debt
   and/or equity transactions may be effected through broker-dealers with whom the
   Registrant or the client have entered into prime brokerage arrangements, in which event,
   the client generally will incur both the fee (commission, mark-up/mark-down) charged by
   the executing broker-dealer and a separate “tradeaway” or prime broker fee charged by the
   account custodian.

   D. The Investment Advisory Agreement between the Registrant and the client will continue
      in effect until terminated by either party by written notice in accordance with the terms of
      the Investment Advisory Agreement. Upon termination, the Registrant shall refund the pro-
      rated portion of the advanced advisory fee paid based upon the number of days remaining
      in the billing quarter.

   E. Neither the Registrant, nor its representatives accept compensation from the sale of
      securities or other investment products.

Item 7           Types of Clients

         The Registrant’s clients shall generally include: individuals, high net worth individuals,
         investment companies, pooled investment vehicles, pension and profit sharing plans,
         charitable organizations, business entities, etc. Effective May 1, 2017, for new clients,
         Registrant has raised its minimum annual fee to $50,000.00 ($12,500.00 quarterly) for
         investment advisory services. The Registrant, in its sole discretion, may charge a lesser
         investment advisory fee, charge a flat fee, charge fee on a different interval and/or reduce
         or waive its annual minimum fee requirement basedupon certain criteria (i.e., anticipated
         future earning capacity, anticipated future additional assets, dollar amount of assets to be

         managed, related accounts, account composition, negotiations with client, etc.). If a client
         is subject to the above annual minimum fee (or the pre-May 2017 $15,000 annual minimum
         fee), the client could pay a higher percentagefee than 1.00% referenced in Item 5 above. In
         its sole discretion, for certain clients with less than $5,000,000 under the Registrant’s
         management, the Registrant may raise its annual percentage fee higher than 1.00%, but a
         client will still pay less than the $50,000 minimum annual fee. As result of the above,
         similarly situated clients could pay different fees. In addition, similar advisory services may
         be available from other investment advisersfor similar or lower fees.