Elevage Partners LLC

Item 5     Fees and Compensation

                          INVESTMENT SUPERVISORY SERVICES ("ISS")

INDIVIDUAL PORTFOLIO MANAGEMENT FEES

The specific manner in which fees are charged by Elevage is established in a written Wealth
Management Agreement with Elevage. Elevage charges an annual fee based on a combination of
total income, financial planning assets and investment under management as described on
Schedules A, B, C and D of the Wealth Management Agreement. Since fees are negotiable, Elevage
has previously entered into other forms of investment management and wealth management
agreements with differing fee schedules and may do so in the future on a client by client basis. Fees
are charged according to the following schedule:

                     Assets Under Management            Maximum Annual Fee*
                     Up to $999,999                     1.00%
                     $1million - $3 million             0.90%
                     $3 million – $5 million            0.80%
                     $5 million - $7 million            0.70%
                     $7 million - $9 million            0.60%
                     Over $9 million                    0.50%

                                   * Minimum annual fee of $5,000.00.

Our fees are billed quarterly, in advance or in arrears, based upon the value (market value or fair
market value in the absence of market value) of the client's account at the end of the previous
quarter for fees billed in advance or on the last day of the immediately preceding calendar quarter
for fees billed in arrears. Clients choose to be billed directly for fees or authorize Elevage to directly
debit fees from their investment account in accordance with the client authorization in the Wealth
Management Agreement. For accounts that are “held away”, since the applicable fee cannot be
debited directly from these held away accounts, these fees will be paid from another client account
or invoiced directly to the client, at the client’s direction.

Limited Negotiability of Advisory Fees: Although Elevage has established the aforementioned fee
schedule, we retain the discretion to negotiate alternative fee arrangements on a client-by-client
basis. Client facts, circumstances and needs are considered in determining the fee schedule. These
include the complexity of the client’s circumstances, assets to be placed under management,
anticipated future additional assets, related accounts, portfolio style, account composition, and
reports, among other factors. The specific fee schedule is identified in the Wealth Management
Agreement between Elevage and each client.

We may group certain related client accounts for the purposes of achieving the minimum account
size requirements and determining the annualized fee.

Discounts, not generally available to our advisory clients, may be offered to family members and
friends of associated persons of our firm.

Some of Elevage’s financial professionals are also licensed insurance agents and receive additional
compensation based on specific insurance products sold. A licensed insurance agent may pursue
opportunities that arise through which they could participate in an insurance transaction and
receive related compensation, recommend to both Elevage and non- Elevage clients a variety of
insurance products, and from time to time make referrals of both Elevage and non-Elevage clients
to outside insurance professionals and/or receive an insurance “commission split” in the form of
one-time payments or insurance trailers.

Though Elevage will not participate directly in the commission, a conflict of interest exists due to
the licensed insurance agent being compensated via full or partial commissions from the sale of an
insurance product either directly or through another firm. The insurance commissions are separate
from and in addition to any fees that Elevage receives for advisory services. Clients are under no
obligation to act on any insurance recommendations or place any transactions through the
recommended insurance professionals if they decide to follow their recommendations.

Some of our financial professionals receive a quarterly compensation bonus based on revenue from
the clients they serve and/or also a percentage of new revenue for any new clients they secure for
the firm.

FINANCIAL PLANNING FEES

Elevage’s Financial Planning fee is determined based on the nature of the services being provided
and the complexity of each client’s circumstances. All fees are agreed upon prior to entering into a
contract with any client. Financial planning fees are charged quarterly and are based on a
combination of total income and financial planning assets as described and calculated on Schedules
A, B and C of Elevage’s Financial Planning Agreement. The minimum quarterly fee is $600. A deposit
equal to the minimum quarterly fee is due upon execution of this agreement. The balance of the fee
is due within 90 days of the start of the engagement.

We may request a retainer upon completion of our initial fact-finding session with the client, of up
to 50% of the fee; however, advance payment will never exceed $1,200 for work that will not be
completed within six months. The balance is due upon completion of the plan.

Financial Planning Fee Offset: Elevage reserves the right to reduce or waive the fee, if a financial
planning client chooses to engage us for our Portfolio Management Services. The client will pay half
of the fee in advance and the balance will be due and payable upon completion of the plan.

GENERAL INFORMATION

Termination of the Advisory Relationship: A client agreement may be canceled at any time, by
either party, for any reason, upon receipt of 30 days written notice. As disclosed above, certain fees
are paid in advance of services provided. Upon termination of any account, any prepaid, unearned
fees will be promptly refunded. In calculating a client’s reimbursement of fees, we will pro rate the
...

Item 7     Types of Clients

Elevage provides advisory services to the following types of clients:

           •   Individuals (other than high net worth individuals)
           •   High net worth individuals

Elevage requires a minimum account size of $50,000 to participate in, or to maintain, advisory
management services. This account size is subject to change and is negotiable by our firm, at any
time and in our sole discretion.