Certain identified information has been excluded from the exhibit because it is both not material and the type that the Registrant treats as private or confidential.

Exhibit for Regan

to the

Advisors Managed Portfolios Fund Servicing Agreement

Name of Series

Regan Total Return Income Fund

Fund Accounting, Fund Administration & Portfolio Compliance, and Chief Compliance Officer (CCO) Services Fee Schedule

Annual Fee Based Upon Average Net Assets per Fund*

____ basis points on the first $____

____ basis points on the next $____

____ basis points on the next $____

____ basis points on the balance

Minimum Annual Fee: $____ per fund

Additional fee of $____ for funds other than for domestic equity

Additional fee of $____ for each additional class, Controlled Foreign Corporation (CFC), and/or sub-advisor

Services Included in Annual Fee Per Fund

Advisor Information Source – On-line access to portfolio management and compliance information.

Daily Performance Reporting – Daily pre and post-tax fund and/or sub-advisor performance reporting.

U.S. Bank Regulatory Administration (e.g., annual registration statement update)

Core Tax Services – See Additional Services Fee Schedule

All schedules subject to change depending upon use of unique security types requiring special pricing or accounting arrangements.

Data Services

Pricing Services

$____ – Domestic Equities, Options, ADRs, Foreign Equities, Futures, Forwards, Currency Rates, Mutual Funds, ETFs, Total Return Swaps

$____ – Domestic Corporates, Domestic Convertibles, Domestic Governments, Domestic Agencies, Mortgage Backed, Municipal Bonds

$____ – CMOs, Money Market Instruments, Foreign Corporates, Foreign Convertibles, Foreign Governments, Foreign Agencies, Asset Backed, High Yield

$____ – Interest Rate Swaps, Foreign Currency Swaps

$____ – Bank Loans

$____ – Swaptions, Intraday money market funds pricing, up to ____ times per day

$____ – Credit Default Swaps

$____ per Month Manual Security Pricing (>____per day)

NOTE: Prices above are based on using U.S. Bank primary pricing service which may vary by security type and are subject to change. Use of alternative and/or additional sources may result

Certain identified information has been excluded from the exhibit because it is both not material and the type that the Registrant treats as private or confidential.

in additional fees. Pricing vendors may designate certain securities as hard to value or as a non-standard security type, such as CLOs and CDOs, which may result in additional fees.

Corporate Action and Factor Services (security paydown)

$____ per Foreign Equity Security per Month

$____ per Domestic Equity Security per Month

$____ per CMOs, Asset Backed, Mortgage Backed Security per Month

Third Party Administrative Data Charges (descriptive data for each security)

$1 per security per month for fund administrative data

SEC Modernization Requirements

Form N-PORT – $____ per year, per Fund

Form N-CEN – $____ per year, per Fund

Miscellaneous Expenses

All other miscellaneous fees and expenses, including but not limited to the following, will be separately billed as incurred:

Fair Value Services, SWIFT processing, customized reporting, third-party data provider costs (including Bloomberg, S&P, Moody’s, Morningstar GICS, MSCI, Lipper, etc.), postage, stationery, programming, special reports, proxies, insurance, EDGAR/XBRL filing, retention of records, federal and state regulatory filing fees, liquidity classification fees, third party auditing and legal expenses, wash sales reporting (GainsKeeper), tax e-filing, PFIC monitoring, conversion expenses (if necessary) and travel related costs.

Additional Services

Additional services not included above shall be mutually agreed upon at the time of the service being added. Additional regulatory administration (e.g., subsequent new fund launch), daily compliance testing, Section 18 compliance testing, Section 15(c) reporting, equity & fixed income attribution reporting, and additional services mutually agreed upon.

In addition to the fees described above, additional fees may be charged to the extent that changes to applicable laws, rules or regulations require additional work or expenses related to services provided (e.g., compliance with new liquidity risk management and reporting requirements).

* Subject to annual CPI increase – All Urban Consumers – U.S. City Average. Fees are calculated pro rata and billed monthly.

Fund Chief Compliance Officer (CCO) Services Annual Fee Schedule

$____ for the first fund (subject to Board approval)

$____ for each additional fund 2-5 (subject to change based on Board review and approval)

$____ for each fund over 5 funds

$____ per sub-adviser per fund

$____ onboarding fee

−     For more than one fund, fees will be aggregated and allocated equally

−     If fund launches within 12 months of LOI, onboarding fee is included in $____ first fund fee

Per adviser relationship, and subject to change based upon board review and approval.

Certain identified information has been excluded from the exhibit because it is both not material and the type that the Registrant treats as private or confidential.

Additional services not included above shall be mutually agreed upon at the time of the service being added. In addition to the fees described above, additional fees may be charged to the extent that changes to applicable laws, rules or regulations require additional work or expenses related to services provided (e.g., compliance with new liquidity risk management and reporting requirements).

* Subject to annual CPI increase – All Urban Consumers – U.S. City Average.

Fees are calculated pro rata and billed monthly.

Certain identified information has been excluded from the exhibit because it is both not material and the type that the Registrant treats as private or confidential.

Fund Administration & Portfolio Compliance (Additional Services Fee Schedule)

Transfer In-Kind

Tax Free Transfer In-Kind Cost Basis Tracking* – $____ per sub-account per year

Daily Compliance Services (if required)

Base fee – $____ per fund per year

Setup – $____ per fund group

Section 18 Compliance Testing

$____ set up fee per fund complex

$____ per fund per month

Section 15(c) Reporting

$____ per fund per standard reporting package*

*Standard reporting packages for annual 15(c) meeting

-Expense reporting package: 2 peer comparison reports (adviser fee) and (net expense ratio w classes on one report) OR Full 15(c) report

-Performance reporting package: Peer Comparison Report

Additional 15(c) reporting is subject to additional charges

Standard data source – Morningstar; additional charges will apply for other data services

Equity & Fixed Income Attribution Reporting

Fees are dependent upon portfolio makeup, services required, and benchmark requirements.

Core Tax Services

M-1 book-to-tax adjustments at fiscal and excise year-end, prepare tax footnotes in conjunction with fiscal year-end audit, Prepare Form 1120-RIC federal income tax return and relevant schedules, Prepare Form 8613 and relevant schedules, Prepare Form 1099MISC Forms, Prepare Annual TDF FBAR (Foreign Bank Account Reporting) filing, Prepare state returns (Limited to two) and Capital Gain Dividend Estimates (Limited to two).

Optional Tax Services

Prepare book-to-tax adjustments & Form 5471 for Controlled Foreign Corporations (CFCs) – $____ per year

Additional Capital Gain Dividend Estimates – (First two included in core services) – $____ per additional estimate § State tax returns - (First two included in core services) – $____ per additional return

Tax Reporting – MLP C-Corporations

Federal Tax Returns

Prepare corporate Book to tax calculation, average cost analysis and cost basis role forwards, and federal income tax returns for investment fund (Federal returns & 1099 Breakout Analysis) – $____

Prepare Federal and State extensions (If Applicable) – Included in the return fees

Prepare provision estimates – $____ Per estimate

State Tax Returns

Prepare state income tax returns for funds and blocker entities – $____ per state return

−     Sign state income tax returns – $____ per state return

Certain identified information has been excluded from the exhibit because it is both not material and the type that the Registrant treats as private or confidential.

−     Assist in filing state income tax returns – Included with preparation of returns

State tax notice consultative support and resolution – $____ per fund     

Fund Start-up & Registration Services Project Fee Schedule

Regulatory Administration Service Proposal – In support of external legal counsel

$____ per project – one fund

$____ per project – two funds

$____ per project – three funds

$____ per project – four funds

(Includes MST external counsel fee, subject to services provided; if applicable)

Additional fee of $____ per sub-adviser

Additional fee of $____ per drafting multi-manager exemptive application (does not include outside legal costs)

MST may require up to $____ in escrow

Additional Regulatory Administration Services

Subsequent new fund launch – $____ per fund or as negotiated

Subsequent new share class launch – $____ per project

Multi-managed funds – as negotiated based upon specific requirements

Proxy – as negotiated based upon specific requirements

All other miscellaneous fees and expenses, including but not limited to the following, will be separately billed as incurred: Postage, Federal and state filing fees, expenses from Board of Trustee meetings, third party auditing and legal expenses, EDGAR/XBRL filing.

The Fund start-up and registration services project fee is paid for by the advisor and not the Fund(s). This fee is not able to be recouped by the advisor under an expense waiver limitation or similar agreement. Fund startup and registration service fees are billed ____% following the selection of U.S. Bank and ____% ____ days after the preliminary registration statement is filed with the SEC filings.

Extraordinary services – negotiated based upon specific requirements

Multi-managed funds, proxy, expedited filings, asset conversion, fulcrum fee, other exemptive applications.

Certain identified information has been excluded from the exhibit because it is both not material and the type that the Registrant treats as private or confidential.

Transfer Agent, Shareholder & Account Services Fee Schedule

Annual Service Charges to the Fund*

Base Fee per CUSIP    $____ for first CUSIP in Fund Complex

    $____ each additional class CUSIP in Fund

                        Complex

Open Accounts    $____ per open account

Closed (zero balance) Accounts    $____ per closed account

Daily Accrual Fund Accounts    $____ per open account

Annual Basis Point Fee per Fund Complex

____ basis point on the first $____

____ basis points on the next $____

____ basis points on the balance

Services Included in Annual Basis Point Fee

Telephone Calls

Voice Response Calls

Manual Shareholder Transaction & Correspondence

Omnibus Account Transaction

Daily Valuation/Manual 401k Trade

Report Source – Client on-line access to fund and investor data. Includes set up and 2 user Ids.

NSCC System Interface

Short-Term Trader Reporting – Software application used to track and/or assess transaction fees that are determined to be short-term trades.

Excessive Trader – Software application that monitors the number of trades (exchanges, redemptions) that meet fund family criteria for excessive trading and automatically prevents trades in excess of the fund family parameters.

12b-1 Aging – Aging shareholder account share lots in order to monitor and begin assessing 12b-1 fees after a certain share lot age.

Miscellaneous Expenses

All other miscellaneous fees and expenses, including but not limited to the following, will be separately billed as incurred: Telephone toll-free lines, mailing, sorting and postage, stationery, envelopes, service/data conversion, AML verification services, special reports, record retention, lost shareholder search, disaster recovery charges, ACH fees, Fed wire charges, NSCC activity charges, DST charges, shareholder/dealer print out (daily confirms, investor statements, tax, check printing and writing and commissions), voice response (VRU) maintenance and development, data communication and implementation charges, specialized programming, omnibus conversions, travel, excess history, FATCA and other compliance mailings, electronic document archiving.

Additional Services

Additional services not included above shall be mutually agreed upon at the time of the service being added. Digital Investor shareholder e-commerce, FAN Mail electronic data delivery, Vision intermediary e-commerce, client Web data access, recordkeeping application access, programming charges, outbound calling & marketing campaigns, training, cost basis reporting, investor email services, dealer reclaim services, literature fulfillment, money market fund service organizations, charges paid by investors, physical certificate processing, CUSIP setup, CTI reporting, sales reporting & Rule 22c-2 reporting (MARS), electronic statements (Informa), ,

Certain identified information has been excluded from the exhibit because it is both not material and the type that the Registrant treats as private or confidential.

EConnect Delivery, Shareholder Call review analysis, statement support, Mutual Fund Profile II services, dealer/fund merger events, NAV reprocessing, voluntary state withholdings and additional services mutually agreed upon.

In addition to the fees described above, additional fees may be charged to the extent that changes to applicable laws, rules or regulations require additional work or expenses related to services provided (e.g., compliance with new liquidity risk management and reporting requirements).

* Subject to annual CPI increase – All Urban Consumers – U.S. City Average. Fees are calculated pro rata and billed monthly.

The monthly fee for an open account shall be charged in the month during which an account is opened through the month in which such account is closed. The monthly fee for a closed account shall be charged in the month following the month during which such account is closed.

Transfer Agent & Shareholder Services - Additional Services Fee Schedule

Charges Paid by Investors

Shareholder accounts will be charged based upon the type of activity and type of account, including the following:

Qualified Plan Fees

$____ per qualified plan account or Coverdell ESA account (Cap at $____ per SSN)

$____ per transfer to successor trustee

$____ per participant distribution (Excluding SWPs)

$____ per refund of excess contribution

$____ per reconversion/recharacterization

Additional Shareholder Paid Fees

$____ per outgoing wire transfer or overnight delivery

$____ per telephone exchange

$____ per return check or ACH or stop payment

$____ per statement year requested per account (This fee applies to research requests for statements older than the prior year)

CUSIP Setup

CUSIP Setup beyond the initial CUSIP – $____ per CUSIP

Expedited CUSIP Setup – $____ per CUSIP (Less than 35 days)

Fund Characteristic Change

Fund Name Change – $____ per fund/ per change

Fund CUSIP Change – $____ per fund/ per change

Digital Investor

Shareholder account access through the internet. Shareholders can securely access account information, conduct financial transactions, and perform account maintenance activities. Electronic document delivery is also available as an adjunct service. Digital Investor includes user interface which caters to a full range of connected devices, including tablets and smart

Certain identified information has been excluded from the exhibit because it is both not material and the type that the Registrant treats as private or confidential.

phones. The standard implementation comes with advanced authentication, eCommerce inspired workflows, and a base package of transaction and maintenance functionality.

Digital Investor

−     Implementation – $____ per fund group

−     Annual Base Fee – $____ per year

Optional features with additional implementation fees and ongoing fees are available. A full feature list and quote is available upon request.

Activity (Session) Fees:

−     Inquiry – $____ per event

−     Login Challenge – $____ per event

−     Account Maintenance – $____ per event

−     Transaction – financial transactions, duplicate statement requests, etc. – $____ per event − New Account Set-up – $____ per event

−     Bank Verification Attempt – $____ per event

FAN Mail

Financial planner mailbox provides transaction, account and price information to financial planners and small broker/dealers for import into a variety of financial planning software packages.

Base Fee Per Management Company – file generation and delivery – $____ per year

Per Record Charge

-Rep/Branch/ID – $____

-Dealer – $____

Price Files – $____ per record or $____ per user per month, whichever is less

Vision Electronic Statement Services

Online account access for broker/dealers, financial planners, and RIAs.

Account inquiry

-Inquiry - $____ per event

-Vision ID - $____ per month per ID

Transaction Processing*

-Implementation Fee - $____ per Management Company

-Transaction – purchase, redeem, and exchange - $0.50 per event

-Monthly Minimum Charge - $____ per month

Electronic Statements*

-Implementation- $____ per fund group

-Load charges-$____ per image

-Archive charge (for any image stored beyond 2 years)-$____ per document *Vision ID and event charges also apply.

Electronic Correspondence

Upon consent from shareholder caller, forms and fulfillment pieces can be sent via email through a secured service rather than mailed.

§ $____ per Email

Client Web Data Access

U.S. Bank client on-line access to fund and investor data through U.S. Bank technology applications and data delivery and security software.

STAT – Statement and Tax Form Storage & Retrieval

Certain identified information has been excluded from the exhibit because it is both not material and the type that the Registrant treats as private or confidential.

-Setup: $____ per user

-Support: $____ per user per month

ReportSource – Report and Data File Storage & Retrieval

-Setup: Included in initial fund setup on Transfer Agent system

-$____ per user per month

Additional Data Delivery Services

Ad Hoc/PowerSelect File Development

-Standard ad-hoc select: $____ per file

-Custom coded data for recurring, scheduled delivery: $____ per hour consultation and programming development -     Support: $____ per file per month for recurring files/reports scheduled for delivery via Report Source. -     Recurring files scheduled for delivery via Report Source.

Custom Electronic File Exchange (MFS delivery of standard TIP files)

-Setup: $____ one-time fee

-Support: $____ per file per month

File Delivery to Alternate Sales Reporting Provider

-Setup: $____ one-time fee

-Maintenance Fee: $____ per file per month

Chat Services

Implementation Fee – $____

Monthly Fee – $____ per month

Per Chat Fee – $____ per chat or $____ per minute of chat

Outbound Calling & Marketing Campaigns

Cost based on project requirements including hours, data sourcing and reporting.

Transfer Agent & Shareholder Services

Electronic Form Delivery and Signature Capture

Implementation fee – $____ (includes 15 forms)

Additional setup fee – $____ for each additional form and email template

Form and fund logo modifications – $____ per form, $____ per updated Fund Logo

Monthly minimum fee – $____ per month

Per electronic envelope Fee – $____

Recordkeeping Application Access

Internet VPN – Infrastructure to allow for application accessibility to host systems and file transfers -     $____ implementation

-$____ per month

Physical Network – Infrastructure to allow for application accessibility to host systems and file transfers -     Cost varies depending upon location and bandwidth

TA2000 3270 Emulation (Mainframe Green Screen) – Account inquiry and ability to perform financial transactions or account maintenance depending upon user access.

-$____ implementation

-$____ per ID per month

TA2000 Desktop (Graphic User Interface to the TA2000 Mainframe) – Account inquiry and ability to perform financial transactions or account maintenance depending upon user access provisioning.

Certain identified information has been excluded from the exhibit because it is both not material and the type that the Registrant treats as private or confidential.

-     $____ implementation

-$____ per ID per month

TA2000 SmartDesk (Web Application to TA2000 Mainframe) – Account inquiry only. - $____ implementation

-$____ per ID per month

Automated Work Distributor (AWD) – Image and workflow application.

-$____ implementation

-$____ per ID per month

Same Day Cash Management (SDCM) – Fund level transaction and cash reporting. - $____ implementation

-$____ per ID per month

PowerSelect – SQL database used for ad hoc reporting from the shareholder recordkeeping system. -     $____ per month

Programming Services

$____ per hour (subject to change)

Charges incurred for customized services based upon fund family requirements including but not limited to:

-Fund setup programming (transfer agent system, statements, options, etc.)

-Customized service development

-Voice response system setup (menu selections, shareholder system integration, testing, etc.)

-All other client specific customization and/or development services

Cost Basis Reporting

Annual reporting of shareholder cost basis for non-fiduciary direct accounts. - $____ per direct open account per year

Email Services

Services to capture, queue, monitor, service and archive shareholder email correspondence:

$____ setup per fund group

$____ per month administration

$____ per received email correspondence

Dealer Reclaim Services

Services reclaim fund losses due to the pricing differences for dealer trade adjustments such as between dealer placed trades and cancellations. There will be no correspondence charges related to this service. - $____ per fund group per month

CTI Reporting

Integrated custom detailed call reporting – $____ per monthly report

Literature Fulfillment Services

Account Management/Database Administration

-$____ per month

-Receiving – $____ per SKU

-Order Processing – $____ per order

-Skid Storage – $____ per month per location

-Disposal – $____ per SKU

Inbound Teleservicing Only

Certain identified information has been excluded from the exhibit because it is both not material and the type that the Registrant treats as private or confidential.

-Account Management – $____ per month (OR)

-Call Servicing – $____ per call

Lead Source Reporting -     $____ per month

Closed Loop Reporting

-Account Management – $____ per month

-Database Installation, Setup – $____ per fund group

Miscellaneous Expenses

-Included but not limited to specialized programming, kit and order processing expenses, postage, and printing.

Shareholder Call Review Analysis

Includes Call Sampling sent securely to client and Reporting of internal representative reviews. §     $____ per Month

Mutual Fund Profile II Services

Initial data review and population as well as ongoing support of information on DTCC’s Mutual Fund Profile II site

Initial data population: $____ for less than 25 CUSIPS / $____ for ____ CUSIPS or more

Monthly maintenance: $____ per management company

Additional project fees may apply for events such as fund acquisitions, multiple fund/share class launches, share class charges and other large processing events outside of normal fund activity to be billed at rate of $____/hour

Dealer Survey Completion

Dealer fund survey requests – $____ per hour for completion and quality validation

Fund Event* Services

Programming & File Delivery – $____/hour

Project Management/Analysis – $____/hour

Account Data Retention – $____/account/month until purged*

CUSIP Data Retention – $____/CUSIP/month until purged*

*Fund Event are defined as Fund Liquidations, De-conversions, Mergers, Fully History Conversions (Manual and Systematic) and Non Taxable Reorganizations (into U.S. Bank or out to another Transfer Agent)*FINCEN regulations require account retention for 12 months following closing. Data is purged the first July after retention requirements have been fulfilled.

MARS Sales Reporting & Compliance Services

Standard MARS Version 8i Implementation Cost

$____ – $____ MARS Sales Reporting Module, CRM Module or 22c-2 Compliance Module (Includes up to one year of DST/TA2000 data)

Standard MARS Version 8i Products & Services (Monthly fees)

$____ – $____ MARS Sales & Compliance Reporting (Includes 5 Sales & 5 Compliance Users)

$____ – $____ MARS Sales Reporting (Includes 5 Sales Users)

$____ – $____ MARS 22c-2 Compliance (Includes 5 Compliance Users)

$____ – $____ – Enhanced Services*

Includes up to 160 hours per month of support services. Basic support includes file import assistance, data scrubbing (cleaning of firm, office and rep information), database query requests,

Certain identified information has been excluded from the exhibit because it is both not material and the type that the Registrant treats as private or confidential.

compliance report monitoring/review/analysis, and business requirement analysis. Additional Enhanced Services support can be negotiated.

Standard Version 8i System Setup & Implementation Costs (One-time fee)

$____ – SalesForce.com Integration

$____ – Custom Data Interface

$____ – OmniSERV Setup

$____ – Standard Interface

$____ – Additional OmniSERV Interface

Standard Version 8i Licenses (Monthly Fee Per User)

$____ – Sales Reporting

$____ – 22c-2 Compliance

$____ – CRM

$____ – SFDC

Standard Version 8i Products & Services (Monthly Fee)

$____ – OmniSERV

$____ – Daily Transaction Load from Sales Portal

$____ – Monthly Asset Load from Sales Portal

$____ – SalesForce.com

Additional Version 8i Products & Services (Quoted Separately)

Albridge Analytics, CFG Fulfillment, Customer/Account Module, Document Management, Exact Target, iPad/iPhone, Mapping Integration, Merrill Lynch (Compliance Only), NSCC DTT Data Line, Profiling, and RIA Monthly Load.

MARS Lite Implementation Cost – Eligibility Based on AUM and Transaction Size

$____ – MARS Lite Base Sales Reporting Only (Includes up to one year of DST/TA2000 data) MARS Lite Products & Services (Monthly fees based on AUM) §     $____/month (AUM $____ – $____)

$____/month (AUM $____ – $____)

$____/month (AUM $____ – $____)

$____/month (AUM $____ – $____)

Once an AUM of $____ has been reached, additional fees will be negotiated. After an AUM range is surpassed, the monthly services fee would not decrease regardless of negative fluctuations.

Includes Enhanced Services up to 160 hours per month of support services. Basic support includes file import assistance, data scrubbing (cleaning of firm, office and rep information), database query requests and business requirements analysis.

Base includes initial three dealer interfaces. Each additional interface is $____ per month.

Storage allocation includes initial 10GB of data. Each additional 1GB of storage space is $____ per month. No CRM real-time integration. No system access.

Certain identified information has been excluded from the exhibit because it is both not material and the type that the Registrant treats as private or confidential.

Additional MARS Lite System Setup & Implementation Costs (One-time fee)

$____ – Custom Data Interface

$____ – Standard Interface

$____ – OmniSERV Interface

Any System Upgrades & Enhancements (Quoted separately through a Statement of Work)

MARS Training

$____ /day plus travel and out-of-pocket expenses.

** Any additional costs that may be charged by intermediaries/NSCC for data fees are not included.

Electronic Confirm Presentation

eCDLY will load shareowner daily confirmations (financial transactions only, does not include maintenance confirmations) and send notification to consented shareowners of a new document to view. §     Document Loading, Storage, and Access – $____ per statement

Document Consent Processing, Suppression, and Notification – $____ per suppressed statement

Development & Implementation of Electronic Confirm Statements – $____ initial setup fee

Electronic Investor Statement Presentation

eStatements will load shareowner investor statements in a PDF format and send notification to the consented shareowners of a new document to view.

Document Loading, Storage, and Access – $____ per statement

Document Consent Processing, Suppression, and Notification – $____ per suppressed statement

Development & Implementation of Electronic Investor Statements – $____ initial setup fee

Electronic Tax Presentation eTax will load TA2000 tax forms and send notification to the consented shareowners of a new document to view.

Document Loading, Storage, and Access – $____ per statement

Document Consent Processing, Suppression, and Notification – $____ per suppressed statement

Development & Implementation of Electronic Tax Statements – $____ initial setup fee

Electronic Compliance Presentation

eCompliance allows consented users to receive an email containing a link to the respective compliance material for each compliance run.

Document Consent Processing, Suppression, and Notification – $____ per suppressed statement

Development & Implementation of Electronic Compliance Documents – $____ initial setup fee

Related Digital Investor Fees

View Consent Enrollment – $____ per transaction

Consent Enrollment – $____ per transaction

View Statements – $____ per view

Certain identified information has been excluded from the exhibit because it is both not material and the type that the Registrant treats as private or confidential.

Notes:

Statements presented as PDF documents

Statements will be loaded for all accounts, regardless of consent

Three year minimum term

Storage for two years included in Document Loading, Storage and Access fee. Archive fee of $____ per document per year for three years and greater, if desired

Digital Investor customization charges apply

Additional Services Fee Schedule

Third-Party Agent Domestic Securities Lending Support*+

$____ implementation fee per Trust per Third-Party Agent Lender

Annual Base Fee $____ per Trust per Third-Party Agent Lender

Plus Transaction fees

Third-Party Agent Portfolio Transaction Fees+

§     $____ - transaction fee will be assessed for each loan, return, and reallocation transactions (loan/return)

+ Each Third-Party Agent Lender will be invoiced directly

Advisor’s signature as acknowledgement of the fee schedule is not needed. Regan Capital, LLC signed the fee schedule on September 9, 2020.