Vector Asset Management LLC

Item 5 – Fees and Compensation
The following paragraphs detail the fee structure and compensation methodology for services provided by the
Advisor. Each Client engaging the Advisor for services described herein shall be required to enter into one or
more agreements with the Advisor.

A. Fees for Advisory Services
Investment Management Services
Investment management fees are paid quarterly, at the end of the quarter, pursuant to the terms of the
investment management agreement. Investment management fees range up to 1.25% annually based on the
average daily market value of assets under management during the quarter. The investment management fee
may vary depending on the size and complexity of the Client relationship. Relationships with multiple objectives,
specific reporting requirements, portfolio restrictions and other complexities may be charged a higher fee.

Fees may be negotiable at the sole discretion of the Advisor. The Client’s fees will take into consideration the
aggregate assets under management with Advisor. All securities held in accounts managed by NWA will be
independently valued by the Custodian. The Advisor will conduct periodic reviews of the Custodian’s valuations
to ensure accurate billing. The Advisor’s fee is exclusive of, and in addition to, brokerage fees, transaction fees,
and other related costs and expenses, which may be incurred by the Client. However, the Advisor shall not
receive any portion of these commissions, fees, and costs.

Financial Planning Services
NWA offers financial planning services on an hourly basis of up to $250 or on a fixed fee engagement fee. Fees
may be negotiable based on the nature and complexity of the services to be provided and the overall relationship
with the Advisor. An estimate for total hours and/or costs will be determined prior to establishing the advisory
relationship.

Use of Independent Managers
For Clients referred by the Advisor to an Independent Manager, the Client’s fee will be deducted from the Client’s
account[s] with the respective Independent Manager and a portion of the fee will be provided to NWA based on
NWA’s agreement with the Client. NWA does not receive any compensation or fees from the Independent
Manager.

B. Fee Billing
Investment Management Services
                                              Vector Asset Management LLC
                                  1-14-2-309 Nakamura, Nerima-ku, Tokyo, Japan 176-0024
                                Phone: U.S.- +1 (212) 859-0280’; -Japan- +81 (080) 3029-8214
                                              www.NotaroWealthAdvisory.com

Investment management fees will be calculated by the Advisor and deducted from the Client’s account[s] at the
Custodian. The Client shall instruct the Custodian to automatically deduct the investment management fee from
the Client’s account[s] at the respective quarter end. The annual rate is charged quarterly, based upon the
market value of the average daily account balance. Since the asset-based fee is determined by average daily
account balance, if assets are deposited into or withdrawn from an account, the base fee payable with respect to
such assets is adjusted accordingly. Clients will be provided with a statement, at least quarterly, from the
Custodian reflecting deduction of the investment management fee. In addition, the Advisor will provide the Client
a report itemizing the fee, including the calculation period covered by the fee, the account value and the
methodology used to calculate the fee. It is the responsibility of the Client to verify the accuracy of these fees as
listed on the Custodian’s brokerage statement as the Custodian does not assume this responsibility. Clients
provide written authorization permitting NWA to be paid directly from their accounts held by the Custodian as part
of the investment management agreement and separate account forms provided by the Custodian.

Financial Planning Services
Financial planning fees are invoiced by the Advisor upon completion of the engagement deliverable[s] and are
due upon receipt.

Use of Independent Managers
For Clients referred by the Advisor to an Independent Manager, the Client’s fee may be separately billed or
deducted from the Client’s account[s] with the respective manager and a portion of the investment advisory fee
will be provided to NWA.

C. Other Fees and Expenses
Clients may incur certain fees or charges imposed by third parties, other than NWA, in connection with
investments made on behalf of the Client’s account[s]. The Client is responsible for all custody and securities
execution fees charged by the Custodian, if applicable. The investment management fee charged by NWA is
separate and distinct from these custody and execution fees.

In addition, all fees paid to NWA for investment advisory services are separate and distinct from the expenses
charged by mutual funds and ETFs to their shareholders, if applicable. These fees and expenses are described
in each fund’s prospectus. These fees and expenses will generally be used to pay management fees for the
funds, other fund expenses, account administration (e.g., custody, brokerage and account reporting), and a
possible distribution fee. A Client may be able to invest in these products directly, without the services of NWA,
but would not receive the services provided by NWA which are designed, among other things, to assist the Client
in determining which products or services are most appropriate for each Client’s financial situation and
objectives. Accordingly, the Client should review both the fees charged by the fund[s] and the fees charged by
NWA to fully understand the total fees to be paid. Please refer to Item 12 – Brokerage Practices for additional
information.

D. Advance Payment of Fees and Termination
Investment Management Services
NWA is compensated for its services at the end of the quarter, after investment management services are
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Item 7 – Types of Clients
NWA provides investment advisory services to individuals and high net worth individuals. The amount of each
type of Client is available on NWA’s Form ADV Part 1. These amounts will change over time. NWA generally
requires a minimum relationship size of $100,000 to effectively implement its investment process. The Advisor
may reduce this minimum at its sole discretion.