Leeland Gray

Portfolio-Based Fees (Flat)

This fee applies to the Green Pastures Defensive Growth Models. The fee for the Green Pastures All Weather Models is 0.50% per year. Advisor may render investment management services via the Green Pastures Defensive Growth Models to qualified clients for a performance-based fee in accordance with the requirements set forth in Rule 205-3 under the Investment Advisers Act of 1940, as amended. For those clients, Advisor shall charge the annual investment management fee described above ('base fee') in addition to an annual fee based on the performance of the account ('incentive performance fee'). Advisor's annual investment management fee shall be 0.50% of the assets under management and the incentive performance fee shall be 20% of the net performance of the account.