Drum Hill Capital LLC

5. Fees and Compensation

Fees for Advisory Services
1. Managed Account Services Fees - Drum Hill Capital receives an annual fee for assets under
management, paid quarterly in arrears. Fees for initial and final billing periods will be prorated for the
number of days management services were provided. Any fees on capital flows in and out of the
portfolio will also be prorated for the number of days management services were provided. Fees can
either be debited from a client’s account in accordance with the client’s written authorization or paid
via personal check upon receipt of an invoice.
The method of calculation for this fee depends upon the custodian utilized to hold the portfolio assets
and the portfolio strategy.
Managed Accounts at Fidelity Investments: The fee for managed accounts held at Fidelity
Investments, other than those invested in our Focused European Equity strategy, is computed by Drum
Hill Capital based on the value of the portfolio at the end of each quarter using the following schedule:
                       Portfolio Value                            Annual Fee
                       Up to $2 Million                             1.00%
                       The next $8 Million                          0.80%
                       Amounts over $10 Million                     0.60%

The fee for portfolios utilizing the Focused European Equity strategy is an annual fee of 1.25% for all
portfolio values and is also computed by Drum Hill Capital based on the value of the portfolio at the
end of each quarter.

In the cases of the direct deduction of fees from a client’s Fidelity account, written notice is sent to
Fidelity by Drum Hill Capital at the same time the fee is deducted from the client’s account. The
itemized notice sent to the client by us each quarter will include the formula used to calculate the fee,
the amount of assets under management upon which the fee is based and the time frame covered by
the fee. In addition, Fidelity will send monthly statements to the client showing all disbursements from
the client’s account, including the amount of the advisory fee. No minimum portfolio size is required
for Managed Account Services accounts at Fidelity Investments, but Drum Hill Capital charges a
minimum annual fee of $1,000 paid quarterly in arrears and prorated for the number of days in the
year services were provided. This minimum annual fee does not apply to accounts invested in the
European Equity strategy.

2. Comprehensive Household Reporting Fees - Drum Hill Capital receives an annual fee for reporting
and advice on held away assets, paid quarterly in arrears, computed based on the aggregate portfolio
value at the end of each quarter using the following schedule:

                       Portfolio Value                          Annual Fee
                       Up to $2 Million                            0.30%
                       Amounts over $2 Million                     0.15%

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Fees for initial and final billing periods will be prorated for the number of days management services
were provided. Any fees on capital flows in and out of the portfolio will also be prorated for the number
of days management services were provided. Fees for this service can either be debited from a specific
account managed by Drum Hill Capital in accordance with the client’s written authorization or paid via
personal check upon receipt of an invoice. The itemized notice sent to the client by Drum Hill Capital
will include the formula used to calculate the fee, the amount of assets upon which the fee is based
and the time frame covered by the fee. In addition, if the fee is debited directly from a client’s account
under the management of Drum Hill Capital, the custodian will send monthly statements to the client
showing all disbursements from the client’s account, including the amount of the advisory fee.

Comprehensive Household Reporting services are designed to complement our Managed Account
Services outlined in Advisory Services description #1, allowing a client to see their total investment
allocation across their accounts managed at both Drum Hill Capital and at other custodians. This service
is typically not offered on a stand-alone basis and therefore a minimum annual fee of $1,000 using our
Managed Account Services as discussed above is required for a client to receive Comprehensive
Household Reporting services, along with a minimum fee of $50 per year per outside held away account
included in the Comprehensive Household Reporting program.

3. Financial Planning Fees – Financial Planning Services are available to clients upon request without
additional charge based upon a tiered approach depending on the level of assets under management
in our Managed Account Services program. Please see page 7 for a discussion of these services and
the level of assets required to receive these services without additional charge. For clients who desire
Financial Planning Services but do not have a sufficient level of assets in our Managed Account Services
program, these services may be contracted as Investment Consulting Services at the rates discussed
below.

4. Investment Consulting Services Fees - Our Investment Consulting Services fees are calculated and
charged on an hourly basis at $300 per hour. All fees are billed at the end of the project or quarterly
in arrears, depending upon the length of the project. If the client requires a good faith estimate for the
total hours that a project might take, that estimate will be determined at the start of the consulting
relationship.
It is also possible for Investment Consulting Services to be structured under a fixed fee relationship
rather than paid hourly. See below in General Fee Information for a discussion of this type of
arrangement. Fees for this service would typically be paid via personal check upon receipt of an
invoice.

General Fee Information
...

7. Types of Clients

Types of Clients to Whom We Provide Services
Drum Hill Capital provides advisory services to the following types of clients:
   • Individuals and Families
   • Individual Retirement Accounts
   • Trusts
   • Charitable Organizations

Minimum Fees or Account Requirements

1. Managed Account Services - No minimum portfolio size is required for Managed Account Services
with accounts held at Fidelity Investments, generally; however, clients will be subject to a minimum
annual fee of $1,000 paid quarterly in arrears, prorated based upon the number of days of the year
services were provided. Please note that minimum fees may be negotiable under certain
circumstances, at the discretion of Drum Hill Capital. We may group certain related client accounts for
the purposes of achieving the minimum annual fee and determining the total annualized fee with
respect to fee breakpoints. No minimum portfolio size is required for portfolios managed in the
Focused European Equity strategy and in addition, there is no minimum annual fee.
2. Comprehensive Household Reporting - This service is typically not offered on a stand-alone basis,
as Comprehensive Household Reporting is designed to complement Managed Account Services. A
client is required to pay a minimum annual fee of $1,000 for Managed Account Services in order to
receive Comprehensive Household Reporting services. This minimum annual fee may be negotiable
under certain circumstances and at the discretion of Drum Hill Capital. We may also group certain
related client accounts for the purposes of achieving the minimum annual fee and determining the
annualized fee with respect to fee breakpoints. There is no separate minimum portfolio size for the
Comprehensive Household Reporting service; however, Drum Hill Capital charges a minimum of $50

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fee per year per outside held away account included in the Comprehensive Household Reporting
program. For example, a client who required performance reporting and advice on three outside, held
away investment accounts under this service would be charged a minimum fee of $150 per year for
this service (3 x $50), paid quarterly in arrears.
3. Financial Planning Services Fees - Financial Planning Services are available to clients based upon a
tiered approach depending upon the level of assets under management in our Managed Account
Services program, as discussed in Item 4. The types of financial planning services offered at different
levels of assets managed in the Managed Account Services program are negotiable based upon a
client’s unique circumstances and at the discretion of Drum Hill Capital.
4. Investment Consulting Services Fees - There are no minimum fee or hourly requirements for
Investment Consulting Services.