Fee Disclosure

REORG/ Dividends/Transfers

ACAT and Non-ACAT (full or partial) Transfer Out*Plus free delivery charge for each position

$100 per account

Free Deliveries DTC

$35 per security

Mandatory Reorg Corp Actions

$35 per account

Voluntary Tender/ Exchange Offer/ Bond Put

$45 per election

Axos Clearing Assisted Dividend Posting (Asset not held at Axos Clearing)

$15 per item

Cash Dividend outgoing check

$10 per check

Checks Processing

Stop payments

$40 per stop

Returned Checks

$50 per check

Photocopies of Checks

$10 per check

Prepayments of Unsettled Funds

$40 per item, plus interest

Check Writing Stop Pays

$25 per check

Returned ACH Items

$50 per return

Qualified Plan Accounts (IRA, 401(k), Sep, etc.)

IRA Annual Custodial Fee

$60 per plan

Transfers (including transfer of Roth to/from Traditional IRA)

$100 per transfer

Termination Fee

$75 per plan

DWAC

DWAC Charge

$100 per item

DWAC Reject Charges

$0 at cost

Alternative Investments

Alternative Investment Reconciliation

$120 per year (charged quarterly)

Re-registration of Stock or Alternative Investment

$60 per re-registration, plus cost

Transfer on Death (TOD) Registration

TOD Application fee

$75 per account setup

TOD Change/Revocation

$75 per account change

TOD Distributions

$250 per distribution

Securities Processing

Long Positions (sub-penny, book entry)

$0.006 per 10,000 shares, monthly

Clearance or Transfer of Restricted Stock

$100 per item, plus cost

Physical Security Processing

Certificate request DTC

$1,000 per certificate

Rush Withdrawal DTC

$150 additional

Physical Settlements

$100 per settlement, plus cost

Rejected deposits DTC or agent

$185 per certificate

NY Window / Physical Delivery

$50 per security

Transfer agent charges

$0.00 as incurred, plus any mark-up

Wire Transfers

Domestic

$40 per wire

International

$100 per wire

Research Requests / Service Messages

$50 per request

Overnight Delivery (UPS)

Domestic

$50 per delivery

International

$125 per delivery (other fees may apply)

Foreign Securities

ADR Fee

$0.005 per item, plus transaction cost

Transfer In / Out – Physical Certificate (Foreign)

$150 per certificate, plus cost

Physical Certificate Request

$1,000 per certificate, plus cost

Foreign Currency Conversions

$50 per conversion

Foreign Currency Transaction Postings

$25 per posting

Other Fees

Worthless Security Processing

$30 per security

Manual Option Exercise Request

$50 per request

Cashless Stock Options

$65 per request, plus 1% of cost

Trades Settled Same Day (Cash Trades)

$25 per trade

Bond Redemption / Conversion (Physical Only)

$50 per item, plus cost

Reg-T Extensions

$50 per extension

Vault Services

$100 per year

CCPA Check Writing and Platinum Card

$60 per year

Other Services

For other services that are not identified on this fee schedule, the Correspondent should inquire of Clearing Broker to determine the availability of additional services as well as any costs/fees that may be incurred.

Disclosures

DISCLAIMER–ADDITIONAL FIXED COMMISSION: TRANSACTIONS IN SECURITIES WILL BE CHARGED AN “ADDITIONAL FIXED COMMISSION”, WHICH IS DISCLOSED VIA EACH CUSTOMER CONFIRMATION. VCSV HAS INDEPENDENT OFFICES WHICH MAY CHARGE A DIFFERENT FIXED COMMISSION AT IT’S SOLE DISCRETION. A PORTION OF THIS FEE IS COMPRISED OF DIRECT TRANSACTION AND POSTAGE CHARGES IMPOSED BY AXOS CLEARING AND THE BALANCE IS RECEIVED BY VCSV AS ADDITIONAL REVENUE, PORTIONS OF WHICH MAY BE SHARED WITH YOUR BROKER, AND ULTIMATELY WILL CONSTITUTE ADDITIONAL COMPENSATION TO VCSV AND / OR YOUR BROKER. THIS FEE IS IN ADDITION TO ANY OTHER COMMISSION CHARGES. CONTACT YOUR BROKER OR VCSV’S CORPORATE HEADQUARTERS FOR FURTHER DETAILS

Commissions – All commissions are charged on a negotiated basis between the registered representative and the client and adhere to the regulatory guidelines.

The above fees for services provided by Axos Clearing, the clearing firm, or VCS Venture Securities may be charged to your account at the time of/or prior to the service being rendered. VCS Venture Securities and/or VCS Venture Securities representative(s) may receive a portion of the fees charged by the clearing firm (including, but not limited to, margin interest and handling fees). These fees and charges may be passed onto you to include the costs associated with the processing of transactions and may be a source of additional compensation to the firm and/or registered representative.

VCS Venture Securities charges a $99 additional fixed commission on all transactions in addition to any applicable fees, charges, taxes, commissions, markups/markdowns charged to your account. A small portion of this fee is remitted to VCS Venture Securities clearing firm and the remainder is retained by VCS Venture Securities as transaction based remuneration and may be a profit to the firm, as well as additional compensation to the firm and/or registered representatives. The brokerage commission is used for the following expenses but not limited to: clearing firm expenses (see above), online access, clearing firm account, fidelity bond, insurances, support staff salaries, rent, office supplies, IT support and equipment, state registrations, legal, FinOP & accounting, consultants, telephone, overnight and regular mail, training, subscriptions & publications, FINRA fees, general office expenses, NASDAQ fees, AML charges, exchange fees, in addition to other various vendors and/or expenses not previously mentioned. Please contact your account representative if you have any questions or need additional information.

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