VAM Group Inc

Item 5 Fees and Compensation
INDIVIDUAL PORTFOLIO MANAGEMENT FEES
The annualized fee for individual Portfolio Management services will be charged as a percentage of
assets under management according to the following schedule:

Assets Under Management                    Annual Fee
First $1 million in assets                   1.00%
Second $1 million in assets                  0.75%
Assets over $2 million                       0.60%

A minimum of $250,000 of assets under management is required for this service. The account size
may be negotiable under certain circumstances. Voisard Asset Management Group may group certain
related client accounts for the purposes of achieving the minimum account size.

Individual Portfolio Management fees are payable quarterly and in arrears (i.e., after services are
rendered). Fees are computed on a basis of the fair market value of the portfolio under management,
as determined by the custodian, on the last day of the relevant calendar quarter. Where services are
initiated at any time other than the beginning of a calendar quarter, advisory fees will be prorated.
Fees can be deducted directly from a client account or invoiced to the client.

Limited Negotiability of Advisory Fees: Although Voisard Asset Management Group has established
the fee schedule referenced above, we retain the discretion to negotiate alternative fee structures on a
client-by-client basis. Client facts, circumstances and needs will be considered in determining the fee
schedule. These include the complexity of the client's situation, assets to be placed under
management, anticipated future additional assets, related accounts, portfolio style, account
composition and required reporting among other factors. The specific annual fee schedule will be
identified in the contract between Voisard Asset Management Group and each client.

Voisard Asset Management Group may group certain related client accounts for the purposes of
determining the annualized fee. Discounts, not generally available to our advisory clients, may be
offered to family members of associated persons of our firm.

FEES FOR ADVISORY SERVICES TO RETIREMENT PLANS AND PARTICIPANTS
The annual fee for our services ranges between 0.25% to 1.00% of the value of the assets in the Plan.
Additionally, the Advisor reserves the right to charge a flat fee to the employer to cover other agreed
upon fees for services.

The fees are paid quarterly and in arrears (i.e., after services are rendered). Fees are computed based
on the fair market value of the assets under management, as determined by the custodian, on the last
day of the relevant calendar quarter. Where services are initiated at any time other than the beginning
of a calendar quarter the fees will be prorated. Fees will be deducted directly from Participants'
accounts.

The advisory fees for our services provided to retirement plans and their participants may be
negotiated on a case-by-case basis at the Plan level based on the size of the Plan, number of
participants, and types of services requested by the Plan sponsor. We do not reasonably expect to
receive any other compensation, direct or indirect, for the services we provide to
the Plan or Participants, unless the plan sponsor directs us to deduct our fee from the plan or directs
the plan record-keeper to issue payment for our fee out of the plan. If we receive any other
compensation for such services, we will (i) offset the compensation against our stated fees, and (ii) we
will promptly disclose the amount of such compensation, the services rendered for such compensation
and the payer of such compensation to you.

FINANCIAL PLANNING FEES
In the event that a client desires services outside the scope of the Advisor's Individual Portfolio
Management services and in excess of the complimentary financial planning services, Voisard Asset
Management Group is available to provide additional services (consultation, financial planning or
research services) at the Advisor's consultation rate determined on a case by case basis. Clients are
advised when additional services are billable and are not initiated without the prior consent of the
client.

Although the length of time it will take to provide a financial plan will depend on each client's personal
situation, we will provide an estimate of total hours at the start of the advisory relationship. The client
will be billed quarterly in arrears (i.e., after services are rendered) based on actual hours accrued and
at the conclusion of services for any residual fees incurred.

Voisard Asset Management Group retains the discretion to negotiate alternative fees on a client-by-
client basis. Client facts, circumstances, complexity and needs will be considered in determining the
alternative hourly fee schedule. The specific fee schedule will be identified in an agreement between
the advisor and the client.

Voisard Asset Management Group reserves the discretion to reduce or waive the hourly fee if a
financial planning client chooses to engage the Advisor for our Individual Portfolio Management
services.

GENERAL INFORMATION
Termination of the Advisory Relationship: A client agreement may be canceled at any time, by
either party, for any reason upon receipt of a 30 day written notice. Upon termination of any account or
relationship, any accrued but unpaid fees will be invoiced to the client for payment of services.

Mutual Fund Fees: All fees paid to Voisard Asset Management Group for investment advisory
services are separate and distinct from the fees and expenses charged by mutual funds and/or
Exchange Traded Funds ("ETF's"). These fees and expenses are described in each fund's prospectus.
These fees will generally include a management fee, other fund expenses, and a possible distribution
fee. A client could invest in a mutual fund directly, without our services. In that case, the client would
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Item 7 Types of Clients
Voisard Asset Management Group provides advisory services to the following types of clients:

    •   High net worth individuals
    •   Individuals (other than high net worth individuals)
    •   Pension and profit sharing plans(other than plan participants)
    •   Trusts, estates or charitable organizations
    •   Corporations or other businesses not listed above

As previously disclosed in Item 5, Voisard Asset Management Group has established certain initial
minimum account requirements, based on the nature of the service(s) being provided. For a more
detailed understanding of those requirements, please review the disclosures provided for each
applicable service.