Durante & Waters LLC

Item 5. Fees and Compensation
         Durante & Waters offers its services on a fee basis, which include hourly and/or fixed fees, as well as fees
         based upon assets under management depending on the arrangement with its clients.

         Clients may terminate the service agreement without penalty, for full refund of Durante & Waters’ fees,
         within five business days of signing the Investment Advisory Contract. Thereafter, clients may terminate
         the Investment Advisory Contract with [thirty] days’ written notice.

         Refunds for fees paid in advance will be returned within fourteen days to the client via check, or return
         deposit back into the client’s account.

         Financial Planning and Consulting Fees

         Durante & Waters charges a fixed fee and/or hourly fee for financial planning and consulting services.
         These fees are negotiable, but generally range from $1,000 to $8,000 on a fixed fee basis and/or from $150
         to $300 on an hourly rate basis, depending upon the level and scope of the services and the professional
         rendering the financial planning and/or the consulting services. If the client engages Durante & Waters for
         additional investment advisory services, Durante & Waters may offset all or a portion of its fees for those
         services based upon the amount paid for the financial planning and/or consulting services.

         Prior to engaging Durante & Waters to provide financial planning and/or consulting services, the client is
         required to enter into a written agreement with Durante & Waters setting forth the terms and conditions of
         the engagement. Generally, Durante & Waters requires one-half of the financial planning / consulting fee
         (estimated hourly or fixed) payable upon entering the written agreement. The balance is generally due

         Durante & Waters, LLC Disclosure Brochure

         upon delivery of the financial plan or completion of the agreed upon services. For divorce financial planning,
         Durante & Waters generally requires full payment up-front.

         For hourly fees that are collected in advance, the fee refunded will be the balance of the fees collected in
         advance minus the hourly rate times the number of hours of work that has been completed up to and
         including the day of termination.

         Fixed fees that are collected in advance will be refunded based on the prorated amount of work completed
         at the point of termination.

         Investment Management Fee

         Durante & Waters provides investment management services for an annual fee based upon a percentage
         of the market value of the assets being managed by Durante & Waters, as follows:

                                 PORTFOLIO VALUE                                   BASE FEE

                                 up to $2,000,000                                       1.25%
                                 $2,000,001 to $5,000,000                               1.00%
                                 $5,000,001 to $10,000,000                              0.75%
                                 above $10,000,001                                      0.50%

         Durante & Waters’ annual fee is exclusive of, and in addition to brokerage commissions, transaction fees,
         and other related costs and expenses which are incurred by the client. Durante & Waters does not,
         however, receive any portion of these commissions, fees, and costs. Durante & Waters’ annual fee is
         prorated and charged quarterly, in advance or arrears, based upon the market value of the assets being
         managed by Durante & Waters on the last day of the previous quarter.

         As further disclosed in response to Item 7, Durante & Waters imposes a minimum annual fee for its
         investment management services. Durante & Waters, in its sole discretion, may negotiate to waive its
         minimum fee or charge a lesser management fee based upon certain criteria (i.e., anticipated future earning
         capacity, anticipated future additional assets, dollar amount of assets to be managed, related accounts,
         account composition, pre-existing client, account retention, pro bono activities, etc.).

         Wealth Management Fee

         Durante & Waters charges a flat fee for comprehensive wealth management services. This includes both
         ongoing financial planning and investment management services. These fees are negotiable but generally
         range from $24,000 to $36,000 annually depending on the client’s net worth. Durante & Waters’ annual fee
         is exclusive of, and in addition to brokerage commissions, transaction fees, and other related costs and
         expenses which are incurred by the client. Durante & Waters does not, however, receive any portion of
         these commissions, fees, and costs. Durante & Waters’ annual fee is charged quarterly, in advance.

         Durante & Waters, LLC Disclosure Brochure

         Refunds for fees paid in advance, will be equal to the balance of the fees collected in advance minus the
         daily rate* times the number of days elapsed in the billing period up to and including the day of termination.
         (*The daily rate is calculated by dividing the annual flat fee by 365.)

         Fees Charged by Financial Institutions

         As further discussed in response to Item 12 (below), Durante & Waters generally recommends that clients
         utilize the brokerage and clearing services of Fidelity Institutional Wealth Services (“Fidelity”).

         Durante & Waters may only implement its investment management recommendations after the client has
         arranged for and furnished Durante & Waters with all information and authorization regarding accounts with
...

Item 7. Types of Clients
         Durante & Waters provides its services to individuals, trusts and estates.

         Minimum Fee

         As a condition for starting and maintaining a relationship, Durante & Waters generally imposes a minimum
         annual fee of $6,000. This minimum fee may have the effect of making Durante & Waters’ service
         impractical for certain clients, particularly those with portfolios less than $300,000 under Durante & Waters’
         management. Durante & Waters, in its sole discretion, may waive its minimum annual fee based upon
         certain criteria including anticipated future earning capacity, anticipated future additional assets, dollar
         amount of assets to be managed, related accounts, account composition, pre-existing client, account
         retention, and pro bono activities.