Nicklaus Mattingly

Portfolio-Based Fees (Tiered)

For assets managed under the sub-advisory relationship with DFA, clients are charged a separate sub-advisory fee in addition to Heritage’s advisory fee. DFA’s fee is billed in arrears and calculated based on the average daily balance of assets under management during the applicable billing period. The current maximum DFA sub-advisory fee schedule is as follows: Direct Equity Securities 0.29% Direct Fixed Income Securities 0.29% DFA Mutual Funds or ETFs 0.00% Non-DFA Mutual Funds or ETFs 0.10% Minimum Fee: Notwithstanding the foregoing, the minimum annual sub-advisory fee for any Account will be determined based on the Account’s holdings as of the end of each calendar quarter or the effective date of Account termination, whichever occurs first. The minimum fee shall equal: (i) $250,000 multiplied by the applicable fee rate for Direct Equity Securities; (ii) $250,000 multiplied by the applicable fee rate for Direct Fixed Income Securities if the Account holds no Direct Equity Securities but holds Direct Fixed Income Securities; or (iii) $250 for any Account that holds neither Direct Equity nor Direct Fixed Income Securities.