Early McClintic & McMillan LLC

Item 5: Fees and Compensation

For all services, other than financial planning, billed on an hourly basis, our advisory fees are charged
as an annual percentage of the assets under management for each client’s portfolio. Annual
advisory fees for discretionary and non-discretionary portfolio management services are charged
quarterly in arrears based on the total asset value, including cash, of the client’s account(s) as of
the end-of-period value as valued by your custodian. Clients should note that this total asset value
may differ from the amount shown on a client’s brokerage statement due to factors such as
accrued interest and dividends. Accounts opened or terminated during a calendar quarter will be
charged a prorated fee.

    •   Discretionary and Non-Discretionary Portfolio Management

Our current incremental fee schedule for discretionary and non-discretionary portfolios is:

                  Portfolio Value               Annualized Fee
                First $1,500,000                1.00% (0.25% quarterly charge)
                Next $1,500,000                 0.75% (0.1875% quarterly charge)
                Over $3,000,000                 0.50% (0.125% quarterly charge)

At the discretion of EMCMC, and instead of an incremental fee, we may choose to charge a flat fee
based upon various factors, including but not limited to the services requested by the client, type
of holdings in your portfolio, the aggregate related-party portfolio size, family holdings, low-cost
basis securities, certain passively advised investments, and pre-existing relationships with clients.
The specific fee will be fully disclosed in the client agreement before any services begin. An account
will be deemed to be funded when EMCMC determines, in its reasonable discretion based upon
EMCMC’s experience in providing investment advisory services, that the account is available for
EMCMC to provide the services contemplated by this Agreement. EMCMC’s determination of this
funding date shall be conclusive and binding upon the parties absent manifest error.

    •   RJCS and Selection of Other Investment Advisers

For clients who select the RJCS SMA program, the annual fees are as follows:

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Equity and Balanced Accounts:

Account Value                        Total Fee
Up to $1 million                     2.75%
$1 million up to $2 million          2.50%
$2 million up to $5 million          2.25%
$5 million up to $10 million         2.00%
$10 million and up                   1.75%

Fixed Income:
Account Value                        Total Fee
Up to $1 million                     2.55%
$1 million up to $2 million          2.30%
$2 million up to $5 million          2.05%
$5 million up to $10 million         1.80%
$10 million and up                   1.55%

    •   Wrap Fee Program

RJCS SMA’s are offered through Wrap Fee Program accounts. RJA generally acts as custodian and
executing broker for transactions in the Wrap Fee Program. The Wrap Fee Program fees are
based on the value of assets in the program and include all trading expenses. Annual fees can be
discounted by EMCMC from this tiered fee structure.

Advisory fees paid by RJCS clients and collected by RJA include the underlying portfolio manager’s
fees, and brokerage, transaction, administrative, and clearing costs paid to RJA, in its capacity as
a clearing and executing broker. EMCMC receives a portion of the annual fee that is calculated and
collected by RJA. Clients may also incur charges for other account services provided by RJA not
directly related to the execution and clearing of transactions, including, but not limited to IRA
custodial fees, safekeeping fees, and fees for legal or courtesy transfers of securities. While there
are no transaction fees as a part of RJCS, there is a possibility that clients may also incur trading
fees associated with a manager trading away from RJA to obtain best execution on fixed-income
investments. Although this may not occur frequently, these trading fees will be charged to RJCS
accounts by RJA and will not be shared with EMCMC.

The Wrap Fee Program fees do not include mutual fund and ETF management fees and operating
expenses, or other trading costs or expenses such as dealer spreads, mark-ups and mark-downs,
national securities exchange fees, taxes, and interest, or servicing fees imposed by the custodian
such as wire transfer fees. Further information regarding fees assessed by a mutual fund or ETF
is available in the respective prospectus.

RJA negotiates with portfolio managers the management fee payable to the portfolio manager,
based on factors including, but not limited to the portfolio manager’s assets under management
in the RJCS program, average number of portfolio holdings, average annual turnover, anticipated

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sales, and administrative service levels. Although the basis of RJCS’ recommendation of portfolio
managers is not based on this negotiated management fee, a conflict may exist due to the
potential incentive RJCS may have to recommend a portfolio manager(s) with a lower
management fee.

The RJCS annual asset-based fee is paid quarterly in advance. When an account is opened, the
asset-based fee is billed for the remainder of the current billing period and is based on the initial
contribution. Thereafter, the quarterly asset-based fee is paid in advance, is based on the account
asset value on the last business day of the previous calendar quarter and becomes due the
following business day. The client will authorize and direct RJA or its affiliate as custodian to deduct
asset-based fees from the client's account. The custodian will send monthly or at a minimum,
quarterly statements to the client which show all amounts disbursed from the client's account,
including fees paid to RJA.

The custodian statement will show the amount of the asset-based fee, and the value of the assets
...

Types of Clients

EMCMC’s clients include individuals, families, high-net-worth individuals, retirement plan sponsors,
and foundation trustees.

Account Minimums

EMCMC requires a minimum portfolio of $250,000 for investment advisory clients, except for those
in the RJCS program, though this may be negotiable under certain circumstances. There is a
minimum account balance of $100,000 for all equity and balance accounts, and $200,000 for fixed-
income accounts, in the RJCS program. Waivers or exceptions from the minimum may be granted
at the exclusive discretion of EMCMC. We may group certain related client accounts to achieve the
minimum portfolio size. RJ Trust requires a minimum account balance of $500,000.

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