VVR Holdings LLC

ITEM 5 : FEES AND COMPENSATION

Capstone’s annual investment advisory fee shall be based upon a percentage (%) of the market value and type
of assets placed under its management, including cash and accrued interest on bonds and dividends payable on
mutual funds. For our standard services, clients will pay 1.0% per annum and for our enhanced services, clients
will pay between 1.0%-3.0% per annum. Clients with assets under management that exceed $4MM will
receive a reduced fee of 0.80%.

Capstone’s advisory fee is not negotiable. However, Capstone, in its discretion, may charge a lesser investment
advisory fee, charge a flat fee, waive fee in its entirety, or charge fee on a different interval, based upon certain
criteria (i.e. dollar amount of accounts to be managed, related accounts, account composition, complexity of
the engagement, services to be rendered, grandfathered fee schedules, employees and family members,
courtesy accounts, competition, etc.). As a result of these factors, similarly situated clients could pay different
or lesser fees. The services to be provided by Capstone to any particular Client could be available from other
advisers for similar or lower fees, and certain Clients may have fees different than those specifically set forth
above. Capstone’s Chief Compliance Officer remains available to address any questions that a Client has
regarding advisory fees.

As described in Item 4, when advising clients who participate in employee benefit plans held away from
Schwab, Capstone will utilize extended services and will charge the client up to 3.00% of the Clients total
AUM (assets held at Schwab) annually. Client should refer to their Investment Advisory Agreement for the

fees they will be charged. Capstone’s Chief Compliance Officer remains available to address any questions
that a Client has regarding fees and services.

Custodial Statement Valuation. Clients’ custodial statements will generally not account for any accrued
interest on bonds or dividends payable on mutual funds until one or two days into the following quarter.
Additionally, deposits to or withdrawals from a Client’s account on the last billing day of the month may not
be reflected on the custodian’s current statement. These transactions will appear in the following statement
reflecting the actual and accurate date of the deposit or withdrawal. Therefore, in some instances, what Capstone
uses as the Client’s quarter end balance may be different from what the Client’s custodial statements reflects
as an ending balance.

We bill client advisory fees quarterly, in advance based on the Client’s average daily balance based on closing
value at the end of each day. A notice, detailing the amount of the fee to be deducted from the Client’s account,
is sent directly to the custodian. Fees are paid directly to us from the account by the custodian upon our
submission of an invoice to custodian. The fee is based on an average daily balance calculated using the daily
market closing value of the Client’s account based on the number of days in the prior quarter. Fees for a partial
quarter at the commencement of an agreement will be prorated based on the number of days the account was
open during the quarter. In the event of termination, Capstone will refund any unearned portion of the advanced
fee paid based upon the number of days remaining in the billing quarter.

Market value means the value of all assets in the account (not adjusted by any margin debit). To determine
value, securities and other instruments traded on a market for which actual transaction prices are publicly
reported shall be valued at the last reported sale price on the principal market in which they are traded (or, if
there shall be no sales on such date.

Clients pay brokerage transaction costs and other charges directly to the custodian. See Item 12. Clients may
be required to pay, in addition to Capstone fee, a proportionate share of any Exchange Traded Fund’s (ETF)
or mutual fund’s fees and charges. For example, Mutual fund operating expenses are paid out of the fund and
are an additional expense incurred by the Client.

New accounts are pro-rated from the time we begin charging a fee to the Client. Fees for partial quarters at the
commencement or termination of this Agreement will be billed on a pro-rated basis contingent on the number
of days the account was open during the quarter.

Termination Of Advisory Agreement. Either the Client or Capstone may terminate the Investment Advisory
Agreement at any time by either party giving verbal or written notice to the other party specifying the date of
termination. Clients who terminate their Agreement will receive a refund of the portion of any fee paid but not
yet earned as of the date such notice is received or such later date as may be designated by the client, based on
the following formula:

                 (Days remaining in quarter after termination) X (Fees paid for the quarter)
                                   (Total number of days in the quarter)
                   Less (Any expenses incurred by Advisor, up to and including that date.)

B. Payment of Fees
Clients may elect to have Capstone’s advisory fees deducted from their custodial account. Both Capstone’s
Investment Advisory Agreement and the custodial/clearing agreement may authorize the custodian to debit
the account for the amount of Capstone’s investment advisory fee and to directly remit that management fee
to Capstone in compliance with regulatory procedures. Unless otherwise specified, fees are charged quarterly

in advance. The client’s first billing cycle will be prorated based on the number of days the client’s account was
opened and how much was funded into the account during their first month. In addition, for Clients utilizing
margin, Capstone will include the entire market value of the margined assets when computing its advisory
fee.
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ITEM 7 : TYPES OF CLIENTS

We provide investment advice to individuals, high net-worth individuals, families, business owners and
corporations.

Capstone has no minimum account size for opening or maintaining an account.