Vera Lake Capital 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 a written
agreement with the Advisor.

A. Fees for Advisory Services
Wealth Management Services
Wealth management fees are paid quarterly, in advance of each calendar quarter, pursuant to the terms of the wealth
management agreement. Wealth management fees are based on the market value of assets under management at
the end of the prior calendar quarter. Wealth management fees range up to 1.00% annually based on several factors,
including: the scope and complexity of the services to be provided; the level of assets to be managed; and the overall
relationship with the Advisor. Relationships with multiple objectives, specific reporting requirements, portfolio
restrictions and other complexities may be charged a higher fee. Wealth management fees will be billed according to
a schedule outlined in the wealth management agreement executed between the Advisor and Client.

The wealth management fee in the first quarter of service is prorated from the inception date of the account[s] to the
end of the first quarter. 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 the Advisor. All securities held in accounts managed by
VLC will be independently valued by the Custodian. The Advisor will conduct periodic reviews of the Custodian’s
valuation to ensure accurate billing.

The Advisor’s fee is exclusive of, and in addition to any applicable securities transaction and custody fees, and other
related costs and expenses described in Item 5.C below, which may be incurred by the Client. However, the Advisor
shall not receive any portion of these commissions, fees, and costs.

Financial Planning Services
VLC offers financial planning services on a fixed engagement fee ranging up to $10,000. 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 costs will be provided to the Client prior to engaging for these services.

B. Fee Billing
Wealth Management Services
Wealth management fees are calculated by the Advisor or its delegate and deducted from the Client’s account[s] at
the Custodian. The Advisor shall send an invoice to the Custodian indicating the amount of the fees to be deducted
from the Client’s account[s] at the beginning of the respective quarter. The amount due is calculated by applying the
quarterly rate (annual rate divided by 4) to the total assets under management with VLC at the end of the prior
quarter. Clients will be provided with a statement, at least quarterly, from the Custodian reflecting deduction of the
wealth management fee. Clients are urged to also review and compare the statement provided by the Advisor to the
brokerage statement from the Custodian, as the Custodian does not perform a verification of fees. Clients provide
written authorization permitting advisory fees to be deducted by VLC to be paid directly from their account[s] held by
the Custodian as part of the wealth management agreement and separate account forms provided by the Custodian.

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

                                                  Vera Lake Capital, LLC
                                        4951 W 77th Street, Suite 51, Edina, MN 55435
                                                   Phone: (612) 524-9165
                                                    https://vera-lake.com

C. Other Fees and Expenses
Clients may incur certain fees or charges imposed by third parties, other than VLC, 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, as applicable. The Advisor's recommended Custodian does not charge securities
transaction fees for ETF and equity trades in a Client's account, provided that the account meets the terms and
conditions of the Custodian's brokerage requirements. However, the Custodian typically charges for mutual funds
and other types of investments. The fees charged by VLC are separate and distinct from these custody and
execution fees.

In addition, all fees paid to VLC for wealth management 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 VLC, but would not
receive the services provided by VLC 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 VLC 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
Wealth Management Services
VLC may be compensated for its investment management services in advance of the quarter in which services are
rendered. Either party may terminate the wealth management agreement, at any time, by providing advance written
notice to the other party. The Client may also terminate the wealth management agreement within five (5) business
...

Item 7 – Types of Clients

VLC offers investment advisory services to individuals, high net worth individuals, trusts, estates, foundations,
charitable organizations and businesses. VLC generally does not impose a minimum relationship size.