Beacon Investment Advisors LLC

ITEM 5: FEES AND COMPENSATION

Beacon charges fees for investment advisory services based on a percentage of assets under management.
The fee calculation is explained to clients and agreed upon before any services are rendered.

Fee Schedule

Beacon uses the following basic marginal fee schedule:

         Assets Under Management             Annual Fee
         On the first $500,000               2.00%
         On the next $500,000                1.80%
         On the next $1,000,000              1.60%
         On the next $1,000,000              1.40%
         On the next $2,000,000              1.25%
         Above $5,000,000                    1.00%

 This fee schedule is subject to negotiation. Beacon reserves the right to adjust the fee schedule depending
 on the size of and type of client relationship and the services required. Negotiation of fees might result
 in different fees being charged for similar services and might be less than shown on the above fee
 schedule. Fees are charged quarterly in advance.

 BILLING FREQUENCY

 Fees are invoiced in advance on a quarterly basis (but not necessarily a calendar quarter). Each billing
 period consists of three consecutive months as explained below:

    •   The initial invoice covers the three-month period beginning on the first day of the first full month
        after Beacon has your assets under management, and fees are invoiced every three months
        thereafter.

For example, if your assets transfer in on July 10, the fee for the initial invoice will be based on assets
under management on July 31, and the initial invoice period covers August 1 through October 31. In this
example, subsequent three-month billing periods will begin November 1, February 1, and May 1.

The fee is calculated based on assets under management on the account statement(s) for last day of the
month immediately preceding each invoice period. Accrued interest on bonds is not included as assets
under management for billing purposes. Declared but unpaid dividends are not included as assets under
management for billing purposes.

INVOICING AND PAYMENT OF FEES

Beacon will provide you with an invoice (electronically or hard copy) for each billing period. The invoice
sets forth the basis for the calculation of the fee, the assets under management for the period, and the
fee amount.
Beacon will deduct the advisory fee directly from your account through the qualified custodian holding
your funds and securities. We will deduct the advisory fee only when you have given us written
authorization permitting the fees to be paid directly from your account. For discretionary accounts, in the
event that there is not sufficient cash in the account to pay the advisory fee, Beacon is authorized to sell
assets to pay the advisory fee. The qualified custodian will deliver an account statement to you at least
quarterly. These account statements will show all disbursements from your account. You should review
all statements for accuracy. Clients are also provided the option to be billed directly for fees.

REFUND ON TERMINATION

You may terminate your advisory agreement with Beacon upon 30 days written notice. You will incur a
pro rata charge for services rendered prior to the termination of the advisory agreement which means
you will incur advisory fees only in proportion to the number of days in the quarter for which you are a
client. If you have pre-paid advisory fees that we have not yet earned, you will promptly receive a prorated
refund of those fees.

OTHER FEES OR EXPENSES INCURRED

Aside from Beacon’s advisory fee, there are other fees, charges, and expenses that you will incur. For
example, you will incur separate charges imposed by custodians, brokers, and other third parties such
as:

    •   Brokerage commissions and/or security transaction fees
    •   Fees charged by mutual fund, exchange-traded fund (“ETF”), closed-end fund and business
        development company (“BDC”) managers
    •   Underlying expenses of mutual funds, ETFs, closed-end funds and BDCs (as described in each
        registered fund’s respective prospectus)
    •   Custodial fees
    •   Deferred sales charges on legacy load funds transferred in from outside accounts
    •   Security spreads
    •   Odd-lot differentials

    •   Transfer taxes
    •   Wire transfer fees
    •   Electronic fund fees
    •   Securities regulatory fees
    •   Taxes and foreign taxes

This list is not intended to be an exhaustive list of all items, but rather represents several of the types of
other fees and expenses you may incur. Beacon does not receive any portion of these other fees,
expenses, and charges listed above. Please refer to your brokerage agreement for specific information
regarding the fees and expenses charged by your custodian.

Item 12 provides additional information that Beacon considers when selecting or recommending the
custodian/broker for client transactions and the determination of the reasonableness of the
compensation/commission that the custodian/broker charges to execute those transactions.

COMPENSATION FOR THE SALE OF SECURITIES

Beacon does not accept or receive compensation for the sale of securities or other investment products,
including asset-based sales charges or service fees from the sale of mutual funds.

ITEM 7: TYPES OF CLIENTS

Beacon provides wealth management services to the following types of clients:

    •   Individuals and families
    •   Corporations
    •   Pension and profit -sharing plans (also referred to as “pooled retirement plans”)
    •   High Net Worth Individuals
    •   Qualified Retirement plans

Generally, Beacon typically requires a minimum of $250,000 of assets to establish an investment advisory
relationship. However, Beacon reserves discretion to waive the account minimum, including for family or
friend accounts, or account householding purposes.