Carnegie Capital Asset Management LLC

Item 5: Fees and Compensation

       A. Fee Schedule

Investment Supervisory Services Fees

                    Assets Managed                            Annual Fee
                    Up to $500,000                        1.75% or less
                    Over $500,000                         1.50% or less

Most clients are charged a flat fee according to the size of the account at the end of the previous
calendar quarter. Our maximum fee schedule is listed above.
Some clients are charged a flat fee per quarter that is not based on the size of the account.
Clients may alternatively be charged a progressive fee, at the advisor’s discretion, and based on

the size of the account at the previous quarter end.

Fees are negotiable and the final fee schedule will be in the Client’s Investment Advisory
Agreement. Generally, fees are paid quarterly in advance and in some cases in arrears, and
clients may terminate their Agreement with written notice. The fee for any period less than a full
quarter is prorated based on the number of days the contract was in place. Refunds for clients
that are billed in advance are given on a prorated basis, based on the number of days remaining
in a quarter at the point of termination. Individual client fee rates may be lower than the stated
fee schedule. Carnegie has some “grandfathered” fee schedules due to mergers and acquisitions.
For those fees based on market values of the account(s), CIC will calculate advisory fees after
positions have been reconciled with client’s custodian as of the last business day of the previous
quarter.

Selection of Third-Party Advisor Fees
On occasion, CIC may direct clients to third party investment advisers. CIC will always act in
the best interests of the client, including when determining which third-party investment
adviser to recommend to clients. Clients will pay CIC its standard fee in addition to the standard
fee for the advisers to which it directs those clients. This relationship will be memorialized in
each contract between CIC and each third-party adviser. The notice of termination requirement
and payment of fees for third-party investment advisers will depend on the specific third-party
adviser selected.

Retirement Plan Client Fees
Fees are based upon Retirement Plan Client assets covered under the Retirement Plan
Agreement. Fees are negotiable and as such, some Retirement Plan Clients may pay higher or
lower fees than shown below. Retirement Plan Client's final fee schedule will be in the
Agreement. The following fee schedule applies to each Retirement Plan Client:

                    Investment Advisor and Investment
                    Management Total Plan Assets
                                                                   Adviser Fee
                        $500,000 to $1.0 million                      0.90%
                       $1.0 million to $2.5 million                   0.80%
                       $2.5 million to $5.0 million                   0.70%
                       $5.0 million to $7.5 million                   0.60%
                      $7.5 million to $10.0 million                   0.50%
                     $10.0 million to $12.5 million                   0.45%
                     $12.5 million to $15.0 million                   0.40%
                     $15.0 million to $20.0 million                   0.35%

                      $20.0 million to $30.0 million                     0.30%
                      $30.0 million to $50.0 million                     0.25%
                           Over $50.0 million                            0.20%

Financial Planning Fees
Upon agreement between the client and CIC, additional fees may be charged when the planning
needs of a client exceed the necessary level required for appropriate management of the Client’s
account(s), or for special projects. An estimate of potential charges is provided in the Investment
Advisory Agreement and can result in additional charges. A maximum “not to exceed” fixed fee
for a project will be quoted upon request based on estimated time and scope.
There is no limitation on asset size or minimum fee for Clients desiring financial planning
assistance on a fixed rate project or hourly basis. Fees are negotiable for a limited number of
services.

       B. Payment of Fees
Payment of Investment Supervisory Fees
Generally, advisory fees are withdrawn directly from the client’s accounts with client written
authorization. Generally, fees are paid quarterly in advance. At CIC’s discretion and client
agreement, and as outlined in the Investment Advisory Agreement, CIC may charge fees in
arrears and/or on a monthly rather than quarterly basis.
Advisory fees may also be billed directly to the client with payments due at the end of the quarter
in which they are billed.

Payment of Third-Party Advisor Fees
The timing, frequency, and method of paying fees for third-party managers will depend on the
specific third-party adviser selected and will be disclosed to the client prior to entering into a
relationship with the third-party advisor.

Payment of Retirement Plan Client Fees
Retirement Plan Sponsors typically choose to have advisory fees deducted from the Retirement
Plan’s account held by the custodian and then authorize payment to CIC. This is done by
selecting that option in the Retirement Plan Agreement. Should a Retirement Plan Client not
elect to pay fees from Plan assets, a quarterly invoice will be sent to the Retirement Plan Client
with payment instructions. Retirement Plan Clients that retain CIC after the beginning of a
quarter will pay a prorated fee for services at the end of the quarter. CIC does not require
prepayment of fees.

Payment of Financial Planning Fees
Fees for financial planning are usually billed at completion of the plan or project. However, CIC
may request that a portion of the fee be paid initially and will present a bill for the remainder upon
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types of clients:

        Individuals and High Net Worth Individuals
        Charitable/Non-Profit Organizations
        Pension and Profit-Sharing Plans

        Corporations or Business Entities
        Independent Trust Companies
        Government Entities
        Other Investment Advisors

Minimum Account Size
CIC’s preferred minimum is $500,000, which may be waived by the investment advisor, based on the
needs of the client and the complexity of the situation.