BHK Investment Advisors LLC

Item 5 – Fees and Compensation
For its investment advisory clients, BHK may provide the following programs to each client:

            I.   BHK Investment Advisory (BHK-IA)
           II.   BHK Investment Consulting (BHK-IC)
          III.   BHK Global Portfolio Strategies (BHK-GPS)
          IV.    BHK Retirement Plan Consulting (BHK-RPC)

I. BHK Investment Advisory and Fees (BHK-IA) Fee Schedule

Equity and Balanced Accounts                        Fixed Income Accounts
Total Account Value Annual Fee                      Total Account Value Annual Fee
First $5,000,000      1.00%                         First $5,000,000      0.75%
Next $5,000,000       0.75%                         Next $5,000,000       0.50%
Above $10,000,000     0.50%                         Above $10,000,000     0.25%

The fee schedule above represents annual fees that are to be paid quarterly in advance of service. The initial fee
payment is due in full on the date the client’s account is accepted and opened by BHK (the “Opening Date”) and
will be based on the asset value of the account on that date. The period for which such payment will be made will
run from the Opening Date through the last day of the full calendar quarter (the “Initial Fee Period”) and will be
prorated as appropriate. Thereafter, the quarterly fee is based on the Program account asset value on the last
day of the previous calendar quarter and is payable quarterly in advance of service.

At the client’s election, fees may be paid in arrears instead of in advance of service. In this case, t he initial fee is
due following the first calendar quarter. The period for which such payment will be made will run from the opening
date through the last day of the full calendar quarter and will be prorated. Thereafter, the quarterly fee is based on the
account asset value on the last day of the respective calendar quarter. Termination of the contract will not affect any
liabilities or obligations of the parties from transactions initiated before termination of this Agreement or a client's
obligation to pay advisory fees if paid in arrears (pro-rated through end of the month in which termination is
effective). Note, it is our assumption that accounts will increase in value over the long term. Therefore, paying fees in
arrears could cause the client to pay more in fees.

A minimum annual fee may be charged. If a minimum annual fee is charged, it will be detailed in the client
agreement. In this case, a client may pay an effective rate greater than the rate specified in the fee schedule
shown above. The firm, in its sole discretion, may waive its minimum fee and/or charge a lesser investment
advisory fee.

II. BHK Investment Consulting and Fees (BHK-IC)
Manager fees are outlined in each respective manager’s Form ADV and Advisory Contract. The minimum account
size will vary from Advisor to Advisor. All such minimums will be disclosed in the respective advisors’ Form ADV
document. The firm may have the ability to negotiate such minimums depending on the manager. A client may
terminate his relationship in accordance with the respective manager’s disclosure documents. Pre-paid fees will
be refunded in accordance with the respective managers’ agreement and disclosure documents.

BHK Investment Consulting Fee Schedule
Total Account Value          Annual Fee
On the first $5,000,000      1.00%
On the next $5,000,000       0.60%
On the next $10,000,000      0.50%
On the next $10,000,000      0.15%
On the next $10,000,000      0.10%
Over $40,000,000             0.05%

A minimum annual fee may be charged. Accordingly, a client may pay an effective rate greater than the rate
specified in the fee schedule shown above. The firm, in its sole discretion, may waive its minimum fee and/or
charge a lesser investment advisory fee. The fee schedule above represents annual fees that are to be paid
quarterly in advance of service.

The initial fee payment is due in full on the date the client’s account is accepted and opened by BHK (the “Opening
Date”) and will be based on the asset value of the account on that date. The initial fee will be for a full quarter
and will not be prorated. Thereafter, the quarterly fee is based on the Program account asset value on the last
day of the previous calendar quarter and is payable quarterly in advance of service.

III. BHK Global Portfolio Strategies (“BHK-GPS”)
Fees for the initial quarter are based on the value of your cash and securities on the date the custodian/broker-
dealer receives them and are prorated based upon the number of calendar days in the calendar quarter that our
agreement is in effect.

The fees generally range between .0625% (6.25 basis points) and .25% (25 basis points) per quarter or .25% (25
basis points) to 1.00% (100 basis points) per year depending on various factors such as the account size and
amount of customization required to meet your requirements.

The client generally directly pays advisory fees. All fees are negotiable solely at the discretion of BHK. Fees are
charged based upon the market value of the account at the end of each calendar quarter. No fee adjustments will
be made for partial withdrawals or for appreciation or depreciation of the account assets within a billing period.

IV. BHK Retirement Plan Consulting Services and Fees (BHK-RPC)
Fees for BHK Retirement Plan Consulting Services are negotiable and vary depending on the level of services to be
provided. Fees are based on the assets of the Plan, the number of Plan participants and/or the number of Plan

investment options. Fees may be based on a percentage of assets or as a fixed annual fee. All fees are to be paid
quarterly in advance of service.

The initial fee payment is due in full on the date the client’s account is accepted and opened by BHK (the “Opening
Date”) and will be based on the asset value of the account on that date. The initial fee will be for a full quarter
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Item 7 – Types of Clients
BHK provides portfolio management services to individuals, corporations and business entities, pension and
profit-sharing plans, charitable institutions, foundations, endowments, estates and trusts.

For BHK-GPS accounts we generally require a minimum portfolio size of $100,000 as a condition for starting and
maintaining an advisory relationship. For all other accounts, the minimum initial account size is $250,000. BHK has
the discretion to waive the account minimum.