Union Heritage Capital

Item 5 Fees and Compensation
Advisory Fee Schedules
Fees for UHCs investment advisory or sub-advisory services are based on an annual percentage
of each account’s assets under management depending on the type of account. Fees are
computed and payable quarterly in arrears, based on the value of the account at the end of the
previous calendar quarter after advisory services are rendered and become due the following
business day. Initial fees are calculated based upon the number of days in the quarterly period
the account came under UHCs management and are based either on the quarter-end balance or
on average monthly balances for the quarter, as provided in the relevant investment advisory
agreement. All subsequent quarters are billed for the full quarter. Representative fees schedules
for balanced, equity and fixed income accounts are set forth below.

BALANCED AND EQUITY ACCOUNTS
ANNUAL FEE                       MARKET VALUE
1.0% on the first                  $3,000,000
0.8% on the next                   $2,000,000
0.7% on the next                   $5,000,000
0.5% on the nest                   $20,000,000
Negotiated on the value over       $30,000,000

FIXED INCOME ACCOUNTS
ANNUAL FEE                        MARKET VALUE
0.7% on the first                    $3,000,000
0.4% on the next                    $12,000,000
0.3% on the next                    $10,000,000
Negotiated on the value over        $25,000,000

Management fees are negotiable and may deviate from the fee schedule above. UHC reserves
the right, in its sole discretion, to negotiate and charge different fees for certain accounts based
on the client’s particular needs as well as overall financial condition, goals, risk tolerance and
other factors unique to the client’s particular circumstances. There may also be differences in
fees paid by certain clients based on account inception dates. Fees are not based on a share of
capital gains upon or capital appreciation of an advisory client’s accounts.

UHC’s investment advisory agreements are mutually revocable at any time without penalty and
continue in effect until written notice of termination is given by either party. Contracts canceled
by clients within five (5) days of initial signing will not be charged an advisory fee. No fees are
required to be pre-paid and, in the event of termination prior to quarter end, any outstanding fees
are charged on a pro-rata basis.

Clients bear all execution and other costs associated with their accounts, including custody fees.
Clients whose uninvested assets are swept into money market mutual funds for short-term cash
management purposes by their custodians will also bear the additional fees and expenses
assessed by such funds on their fund assets.

UHC does not accept compensation for the sale of securities or other investment products,
including asset-based sales charges or service fees from the sale of mutual funds. UHC is not
affiliated with a broker-dealer.

Item 7     Types of Clients

In addition to providing investment advice to pension and profit-sharing plans, trusts, estates or
charitable organizations, UHC may also provide investment advice on a sub-advisory basis, such
as a manager-to-manager program in which UHC reports to another adviser and not directly to
the client.

Our suggested minimum account size is $50,000.