Colony Family Offices LLC

Fees and Compensation

 Colony offers its fee-only advisory services based upon assets under management. Our
 fees are described generally below and are detailed in each of our client’s advisory
 agreement. We may group multiple accounts of a client (or group of related clients)
 together for fee billing purposes. Fees may change over time and as discussed below,
 different fee schedules may apply to different types of clients, strategies and advisory
 arrangements.

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Fees for Wealth Management and Financial Planning

 Wealth management and financial planning services include ongoing comprehensive
 financial planning (estate planning, income tax planning, charitable gift planning, cash flow
 analysis, asset protection strategies and business continuity planning), the development and
 maintenance of investment policy, if applicable, manager selection and monitoring, portfolio
 construction, ongoing due diligence and ongoing investment reporting outlined in the MAA.

 Fees for wealth management and financial planning are calculated on the gross market value
 of your assets on the last day of the preceding quarter, and may be subject to a minimum
 annual fee. Fees are payable in arrears on a quarterly basis unless otherwise directed by our
 client as described in the client’s advisory agreement.

 Our maximum annual fees for wealth management and financial planning services are tiered
 according to the following schedule:

     Assets Under Management                    Maximum Annual Fee
     First $30,000,000                          1.00%
     Next $20,000,000 (up to $50,000,000)       0.75%
     Over $50,000,001                           0.50%

An example of our tiered advisory fee calculation has been provided below:

       Fee Calculation based on $60,000,000 assets:
       Annual Fee = ($30,000,000 x 1%) + ($20,000,000 x 0.75%) + (10,000,000 x 0.50%)

Although Colony has established the fee schedule above, we retain the discretion to
negotiate or waive certain fees on a client-by-client basis. Client facts, circumstances and
needs are considered in determining a negotiated fee schedule. The specific annual fee
schedule is identified in the agreement between Colony and each client.

Clients are also subject to a reporting fee on any reported assets which is assessed at a
lower rate. This fee covers incremental reporting and technology costs that Colony incurs.

We will bill you directly for our services, or you may authorize us to have your fees deducted
directly from your account. This authorization will be included in your advisory agreement you
will execute to engage our services.

Your custodian will provide you with statements that show the amount of the advisory
fees paid directly to us. Your custodian does not verify the accuracy of our fee calculations
so please review your statements carefully.

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Should either one of us terminate the advisory agreement we have entered into before the
end of a billing period, you will be assessed a pro rata charge for the number of days assets
remain in any account you established through Colony and its relationships with third party
custodians.

Colony’s advisory fee is exclusive of brokerage commissions, transaction fees, and other
related costs and expenses which shall be incurred by the client. Clients may incur certain
charges imposed by custodians, brokers and other third parties such as fees charged by
managers, custodial fees, deferred sales charges, odd-lot differentials, transfer taxes, wire
transfer and electronic fund fees, and other fees and taxes on brokerage accounts and
securities transactions. A client’s portfolio may include positions in mutual funds or
exchange traded funds which also charge internal management fees, which are disclosed in
those funds’ prospectuses. Certain private funds and third-party asset managers may charge
performance-based compensation, in addition to a management fee. Such fees are described
in the respective private offering memorandum or disclosure brochures. Colony does not
receive any portion of these commissions, fees, or costs. If hired by an insurance carrier to
serve as investment manager for a PPLI fund, Colony may assess fees as described in the
PPM.

Clients are advised that if securities transferred into the client’s account are sold, there may
be transaction costs, fees assessed at the mutual fund level (i.e., contingent deferred sales
charge), and/or potential tax ramifications.

Please be sure to read the section entitled “Brokerage Practices,” which follows later in this
brochure which further describes the factors that Colony considers in selecting or
recommending broker-dealers for client transactions and determining the reasonableness of
their compensation (e.g., commissions).

Types of Clients

We provide advisory services primarily to high-net-worth individuals and their families,
including their trusts, estates, and retirement accounts. We also provide services to
corporations, business entities and family foundations.

As a condition for starting and maintaining an advisory relationship with us, we generally
require that family relationships have a minimum collective investment account of
$10,000,000. We, at our sole discretion, may allow you to engage our services if you have a
smaller account. Some of the factors we consider in making this determination include pre-
existing client relationships we may have with you or your family members, any additional
assets you are anticipated to receive in the future, your account composition, and your
anticipated future earning capacity.

Methods of Analysis, Investment Strategies and Risk of Loss

Colony will allocate client portfolios among separately managed accounts, mutual funds,
exchange traded funds, and private funds (including hedge fund and private equity).

We will engage Greycourt & Co., Inc. (“Greycourt”), a registered investment adviser, to
assist us in research, manager due diligence, and asset allocation research.

In researching third party asset managers, Greycourt assesses the manager’s investment
philosophy, investment disciplines, risk controls, experience, ownership structure,
compensation structure, organizational stability, client base, and the personal integrity of its
management and personnel. Review and due diligence of certain managers are ongoing
processes performed by Greycourt.

Additionally, in evaluating managers not reviewed by Greycourt and investment
opportunities, Colony will utilize publicly available information, which may include
information available through financial newspapers and magazines, research materials
prepared by others, corporate rating services, timing services, annual reports, prospectuses,
filings with the SEC, company press releases, and personal interviews with company
management. Review and due diligence of these managers are ongoing processes performed
by Colony.

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Investment strategies generally include long term purchases (securities held at least a year),
short term purchases (securities purchased and sold within a year), margin transactions, and
option writing.

Although we manage your account in a manner we believe to be consistent with your
specific investment objectives and risk tolerances, there can be no guarantee that our
efforts will be successful. General economic conditions, current interest rates, the
performance of a particular industry or a particular company, and any number of other
factors can affect investment performance.

You should be prepared to bear the risk of loss. All investments are subject to loss, including
(among other things) loss of principal, a reduction in earnings (including interest, dividends,
and other distributions), and the loss of future earnings. Risks may include market, interest
rate, issuer, general economic, geo-political, and currency exchange rate risks.

 The risks associated with each managed product are described in the respective offering
 memorandum or prospectus.

 The use of margin, options and short sales are higher risk strategies. It is possible to lose all
 of the principal you invest, and sometimes more. In a cash account, your risk is limited to
 the amount of money that you have invested.
 In a margin account, your risk includes the amount of money invested plus the amount that
 has been loaned to you. When you short sell, your losses can be infinite.
 Private funds are generally illiquid.
 You should also be aware that certain transactions in the account (including account
 reallocations and rebalancing) may trigger a taxable event (unless your account is a qualified
 retirement or otherwise tax deferred account).