Fiduciary Advisors Inc

5. Fees and Compensation
Description
       Fiduciary Advisors, Inc. bases its fees on a percentage of Assets under Advisement,
       hourly charges, and fixed fees. All fees are negotiable.

       Investment Advisory Fees
       Fiduciary Advisors will charge an annual fee based on the amount of the client’s assets,
       as set forth in the fee schedule below, or a minimum annual fee of $2,500 per portfolio
       will be charged for this service. Fees will be billed quarterly in arrears, based on the
       market value of each client account as of the last day of the quarter. Fees may be
       negotiated or waived in certain circumstances. Alternatively, the fee may be assessed on
       an hourly basis, ranging from $100 to $300 per hour or on an agreed upon fixed fee. The
       fee arrangement chosen by Fiduciary Advisors and the client will depend on the type of
       portfolio, complexity of investments, and required reporting procedures for each
       portfolio. In certain circumstances, minimum fees or account sizes may be negotiable or
       waived. The fee is due upon presentation of the statement to the client.

                                             Fee Schedule
                               Assets Under
                               Management                       Annual Fee
                               First $500,000                     1.00%
                               Next $500,000                      0.75%
                              Over $1,000,000                     0.50%

       Hourly and Project-Based Financial Planning and Investment Consulting Fees
       Fiduciary Advisors may charge an hourly fee based on an hourly rate of $100 to $300 per
       hour or on an agreed upon fixed fee. The hourly rate chosen by Fiduciary Advisors is
       based on the complexity of the investment portfolio and financial situation. The fee is
       due upon presentation of the statement to the client after the services are completed or as
       agreed upon in the agreement.

       Selection of Investment Vehicles and Monitoring of Client Accounts
       If a client already has an IPS (or, in the case of an individual, a financial plan) which is
       consistent with Fiduciary Advisors’ investment philosophy, selection and monitoring
       services will be provided for an asset-based fee ranging from 0.5% to 1.0% of a client’s
       managed assets, billed quarterly in arrears based on the market value of each client
       account as of the last day of the quarter. Fees may be negotiated or waived in certain
       circumstances. An exact fee will be determined with each client based on the nature and
       complexity of the client’s circumstances.

       Other Consulting Services
       Fiduciary Advisors also provides other advice to pension, qualified and non-qualified
       retirement plans. As part of its consulting services, our firm provides advice on non-
       securities matters, including ERISA issues concerning plan design and compliance,
       insurance and/or annuity advice. Fiduciary Advisors assists the client in analyzing and
       evaluating variable and traditional life insurance policies held in the plan in terms of how
       they affect the plan’s stated financial goals. Fiduciary Advisors also offers to provide
       this advice to individuals to assist in the client’s financial and estate planning.

       Fiduciary Advisors may assist clients in the selection of other advisers.

       For government entity clients, Fiduciary Advisors serves as an investment fiduciary as
       described in state statutes. Services in this area include general pension consulting,
       investment consulting and advice, and board member education.

       Consulting Fees
       Consulting fees are assessed on an hourly basis, ranging from $100 to $300 per hour, or a
       fixed-fee project basis depending on the nature and complexity of the client’s
       circumstances. The fee is due upon presentation of the statement to the client after the
       services are completed or as agreed upon in the agreement.

General Information on Fees
      In certain circumstances, all fees and account minimums may be negotiable.

       A client agreement may be cancelled at any time, by either party, for any reason upon
       receipt of 30 days written notice. Upon termination of any account, any prepaid,
       unearned fees will be promptly refunded, and any earned, unpaid fees will be due and
       payable.

       Fiduciary Advisors’ fees do not include brokerage commissions or
       securities transaction fees charged by Client’s custodian and/or broker-dealer.

       Clients typically grant Fiduciary Advisors authority to deduct fees directly from client’s
       account. Fiduciary Advisors will send client a quarterly statement reflecting the fees
       billed and the custodian will send clients statements at least quarterly reflecting all fees
       deducted from the account. Client is responsible for verifying the accuracy of the fee
       calculation, as Client’s custodian will not determine whether or not the fee was properly
       calculated.

       For company sponsored retirement plans, Fiduciary Advisors is authorized to invoice the

     record keeper or third party administrator directly for our fees. The sponsor is
     responsible for verifying the accuracy of the fee calculation. All investment management
     fees are deducted from plan assets, unless otherwise requested by the sponsor. Clients
     will retain ownership of all funds and securities in their accounts. Clients will receive
     regular reports from their custodian and/or broker-dealer that include confirmation of all
     securities transactions in their account during that quarter.

     Except as noted below, all fees paid to Fiduciary Advisors for investment advisory
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7. Types of Clients

     Fiduciary Advisors provides portfolio management services to individuals, high net
     worth individuals, corporate pension and profit-sharing plans, charitable organizations,
     foundations, and government entities.

     Our firm provides financial planning services to individuals. We do not require
     minimum income levels, minimum level of assets, or other conditions for our financial
     planning services. We generally recommend an account size of $250,000 for our ongoing
     portfolio management services, and we will inform you in advance of any account
     minimums or other restrictions of any third-party financial institutions.