Westhampton Capital LLC

Item 5 - Fees and Compensation

General Fee Information
Fees paid to Westhampton Capital are exclusive of all custodial and transaction costs paid to the
client’s custodian, brokers or other third-party consultants. Please see Item 12 – Brokerage
Practices for additional information. Fees paid to Westhampton Capital are also separate and distinct
from the fees and expenses charged by mutual funds, ETFs (exchange traded funds) or other
investment pools to their shareholders (generally including a management fee and fund expenses, as
described in each fund’s prospectus or offering materials). The client should review all fees charged
by funds, brokers, Westhampton Capital and others to fully understand the total amount of fees paid
by the client for investment and financial-related services.

Portfolio Management Fees
The negotiable annual fee for portfolio management services, based on a percentage of assets under
management, is up to 1.5%.

The minimum portfolio value eligible for conventional investment advisory services is generally
$250,000. Westhampton Capital may, at its discretion, make exceptions to the foregoing or negotiate
special fee arrangements where Westhampton Capital deems it appropriate under the circumstances.

Portfolio management fees are generally payable quarterly, in arrears. If management begins after
the start of a quarter, fees will be prorated accordingly. With client authorization and unless other
arrangements are made, fees are normally debited directly from client account(s).

Either Westhampton Capital or the client may terminate their Investment Advisory Agreement at any
time, subject to any written notice requirements in the agreement. In the event of termination, any
fees due to Westhampton Capital from the client will be invoiced or deducted from the client’s account
prior to termination.

Retirement Plan Services Fees
The fee for Retirement Plan Services is individually negotiated based upon the complexity of the plan,
the composition of the plan assets, the actual services provided and the client’s relationship with
Westhampton Capital. The agreed upon fee is disclosed to the client prior to any service being
provided. Retirement plan sponsors pay all fees for any individualized services provided by
Westhampton Capital to the plan participants.

Retirement plan service fees are generally payable quarterly, in arrears. If management begins after
the start of a quarter, fees will be prorated accordingly. With client authorization and unless other
arrangements are made, fees are normally debited directly from client account(s).

Either Westhampton Capital or the client may terminate their Investment Management Agreement at
any time, subject to any written notice requirements in the agreement. In the event of termination,
any fees due to Westhampton Capital from the client will be invoiced or deducted from the client’s
account prior to termination.

Other Compensation
David A. Leland, Portfolio Manager, and Paul Fulton, III, Director of Marketing, of Westhampton
Capital, are also licensed to sell insurance in North Carolina. In providing advisory services, David or
Paul may recommend the purchase of products under circumstances where they would be entitled to

receive a commission or other compensation in the transaction. In all such circumstances, however,
the client will be notified of this payment in advance of the transaction, and under no circumstances
will the client pay both a commission to David or Paul and a management fee to Westhampton Capital
on the same pool of assets.

Item 7 - Types of Clients

Westhampton Capital serves individuals, high net worth individuals, charitable organizations and
pension and profit-sharing plans. With some exceptions, the minimum portfolio value eligible for
conventional investment advisory services is $250,000.