Bledsoe Asset Management LLC

Item 5 FEES AND COMPENSATION
Asset Management Services
   A. Our fees are not negotiable and they are not based on a share of capital gains upon or capital

      appreciation of the funds or any portion of the funds in your account. The maximum annual
      amount a client would be charged using the BAM portfolios is 1.20%.* The Fee Schedule is as
      follows:

Account Size                       Maximum Annual Fee (%)
From $0 to $500,000                1.20%
For any amount above $500,000      0.50%

   *Generally, the minimum investment required in the BAM Asset Management Program is $50,000
   and our minimum annual fee is per household is $600. Please note: you will pay a higher
   percentage annual fee than the 1.20% referenced above if your household account balance is
   less than $50,000. If your household has more than one portfolio under BAM's professional
   services, we will aggregate the values of your portfolios managed by BAM for the purposes of
   computing our management fee.

   We sometimes make exceptions to our general fee schedule under certain circumstances (e.g.,
   responsibilities involved, accounts or groups of accounts that are expected to have
   significant capital additions in the future, anticipated future earning capacity, related accounts,
   account composition, pre-existing client, account retention, pro bono activities, etc.).

   You may make additional deposits or withdrawals from the account at any time, subject to BAM's
   right to terminate an account that falls below the minimum account size. Additional assets
   received into the account after it is opened will be charged a prorata fee based on the number of
   days remaining in the quarter. Withdrawals from the account after it is opened will result in a
   prorata credit based on the number of days remaining in the quarter. You may withdraw account
   assets, upon notice to BAM, subject to the usual and customary securities settlement procedures.
   No fee adjustments will be made for account appreciation or depreciation.

   B. The fees will be charged to and collected directly from your account early in the quarter,
      provided you have given BAM written authorization to debit the fee. You will be provided with an
      account statement from Schwab reflecting the deduction of the advisory fee as well as an
      invoice from BAM. If your account does not contain sufficient funds to pay the advisory fees, we
      have the limited authority to sell or redeem securities in sufficient amounts to pay advisory fees.
      Except for ERISA and IRA accounts, you may reimburse your account for advisory fees paid to
      BAM.

   C. In addition to the advisory fees above, you will pay transaction fees for securities transactions
      executed in your account in accordance with the custodian's transaction fee schedule. You may
      also pay fees for custodial services, account maintenance fees, and other fees associated with
      maintaining the account. These fees are not charged by BAM and are charged by the product,
      broker-dealer, or account custodian. BAM does not share in any portion of these fees.
      Additionally, you may pay your proportionate share of the fund's management and
      administrative fees and sales charges as well as the mutual fund adviser's fee of any mutual
      fund they purchase. These advisory fees are not shared with BAM and are compensation to the
      fund manager. You should read the mutual fund prospectus prior to investing.

   D. Advisory fees will be charged in advance of the billing period. The billing period will be on a
      calendar quarterly basis (i.e., March 31, June 30, September 30, and December 31). The
      quarterly advisory fee will be based on the value of the account on the last day of the just-
      completed quarter. If the account is established or closed during the middle of a quarter, you
      will pay a prorated portion of the advisory fee based on the number of days the account was

        under BAM's management.

Fee calculation example:
The quarterly fee is the client's account value ($$) at the end of the previous quarter multiplied by the
annual fee divided by 4 ($$ x (annual fee/4)).

When the account is first established, the initial fee will be calculated at the end of the initial billing
period (i.e., quarter). The initial fee will be composed of a prorated fee for the just-completed quarter
and a quarterly fee based on the upcoming quarter. The prorated fee will be based on the number of
days remaining in the billing period and upon the account value as of the last day of the just completed
quarter. The quarterly fee will be based on the value of the account at the end of the preceding quarter,
adjusted for withdrawals from and additions to the account, prorated based on the remaining days in
the quarter.

Fee calculation example:
For an account that is established on March 15, the initial quarterly fee will be composed of a prorated
fee based on 17 days in March in addition to the advanced quarterly fee for the billing period of April,
May, and June.

    •   Initial Fee = (Prorated fee for 3/15 – 3/31) + (Quarterly fee for April, May, June)

BAM may change the above fee schedule upon 30-days prior written notice to you.

    E. Neither BAM nor any Advisory Representatives of BAM accept compensation for the sale of
       securities or other investment products, including asset-based sales charges or service fees
       from the sale of mutual funds.

BAM will provide investment advice on an hourly basis based on our consulting fee schedule.

Termination Provisions
You may terminate investment advisory services obtained from BAM, without penalty, upon verbal or
written notice within 5 business days after entering into the advisory agreement with BAM. You will be
responsible for any fees and charges incurred from third parties as a result of maintaining the account
...

Item 7 TYPES OF CLIENTS
BAM's services are geared toward both high-net-worth individuals and non-high-net-worth individuals,
trusts, estates, and pension and profit sharing plans.

Generally, the minimum investment required in the BAM Asset Management Program is $50,000 and
our minimum annual fee is per household is $600.

Accounts below this minimum investment may be accepted on an individual basis at our discretion.
Such circumstances may include, but not be limited to, (1) additional assets will soon be deposited or
(2) the client has other accounts with BAM. You should be aware that performance may suffer due to
difficulties with diversifying smaller accounts and that a lack of diversification can lead to greater
portfolio risk. Performance of smaller accounts may vary from the performance of accounts with more
dollars invested because fluctuations in the market may affect smaller accounts more.