Fischer Financial Services Inc

Fees and Compensation

            100% of our advisory billings are generated from investment management services.

Fees are payable quarterly in advance. They are calculated using the accounts current market value at the
following annual rates:

                                      PRIVATE CLIENT FEE SCHEDULE

                                      1.00 % on the first $1,250,000

                                      0.75 % on the next $1,750,000

                                      Negotiable over       $3,000,000

The minimum account size is $250,000 but may be waived under special circumstances. Requests to waive
the minimum fee are reviewed on a case-by-case basis. The fees exclude brokerage costs and custodian
fees. No fees shall be based upon capital gains or capital appreciation of assets.

                                       INSTITUTIONAL FEE SCHEDULE

                                     0.70 % on the first    $5,000,000

                                     0.60 % on the next $15,000,000

                                     0.50 % on the next $30,000,000

                                     Negotiable over       $50,000,000

The minimum institutional account size is $5,000,000 but may be waived under special circumstances.
Requests to waive the minimum institutional account size are reviewed on a case-by-case basis. The fees
exclude brokerage costs and custodian fees. No fees shall be based upon capital gains or capital
appreciation of assets.

                         NON-DISCRETIONARY INVESTMENT MANAGEMENT SERVICES

                               ERISA 3(21)   0.30% on the first $10,000,000

                                             Negotiable over $10,000,000

                            There is no minimum account size for this service.

The first quarter investment management fee is due upon signing the agreement. All investment advisory
contracts may be terminated by the client with written notice. Any fees paid in advance will be refunded on
pro-rata based on the date of termination.

                    Performance-Based Fees and Side-By-Side Management

This section is not applicable to our firm.

Types of Clients

 Fischer Financial Services, Inc. is an independent investment management firm serving clients across the
 United States of America. We serve a wide variety of clients including: corporations, non-profit
 organizations, banks, trusts, physician and medical groups, law offices, business owners, individuals, and
 families.

                 Methods of Analysis, Investment Strategies and Risk of Loss

                                       PROFESSIONAL INVESTMENT MANAGER

Based on our research, we were unable to find a universal definition of a Professional Investment
Manager/Money Manager. In addition, it does not appear that the U.S. Securities and Exchange Commission
has created a definition; therefore, here is what we consider the characteristics of a Professional Investment
Manager/Money Manager:

     1.   A professional investment manager does not sell products or earn commissions.

     2.   A professional investment manager is a specialist, much like a brain surgeon, and does not earn fees
          by doing financial planning, giving tax advice, etc.

     3.   A professional investment manager provides for the continuous monitoring and management of all
          investable accounts. A professional investment manager will also send quarterly performance
          reports on a time and size weighted basis, along with appropriate benchmarks of excellence for
          comparison purposes.

     4.   The investment management firm is GIPS compliant and examined by an independent auditor.

     5.   The investment management firm maintains lifetime historical performance records by risk category
          for all the accounts they have managed.

                 Methods of Analysis, Investment Strategies and Risk of Loss

Fischer Financial Services, Inc.’s investment philosophy is to produce the best rate of return with the least
amount of risk. We try to provide consistent performance over the long-term by buying and holding. When a
security is purchased, it is expected to be held more than three years. Securities with attractive short and long-
term growth potential are purchased. We are not quick to sell a security unless conditions have deteriorated so
rapidly that quick action is required. This investment process leads to low turnover in our accounts.

Our equity investment style is bottom-up, (i.e., best stocks regardless of industry). Large-cap growth stocks at a
reasonable price are the foundation of our larger accounts. Smaller accounts use no load mutual funds.
Established market leaders are carefully analyzed using quantitative and qualitative factors before being
selected for our portfolios. Our qualitative research includes such elements as integrity of top management,
new product releases, regulatory problems, and pending litigation.

Fixed income investments are used in all moderate, conservative, and ultra conservative accounts. We buy
high quality, shorter duration bonds, no load bond funds or Exchange Traded Funds. Corporate and
Government bonds are used depending on the client’s needs. Certificates of deposits and money market funds
are used to reduce risk.

We have developed seven different investment templates in rank order of risk from high to low: Worldwide
Aggressive, Standard Aggressive, Worldwide Moderate, Standard Moderate, Worldwide Conservative,
Standard Conservative, and Ultra Conservative. These different templates use a varied mix of individual stocks
and bonds, no load mutual funds, Exchange Traded Funds, certificates of deposits, and money market funds.

Some of the ways we limit risks include: not buying on margin, not trading options, not using junk bonds, not
using financial derivatives, and by not acquiring limited partnerships. All of our accounts are still subject to the
possibility of losing money.

Our most aggressive template is our Worldwide Aggressive which could be up or down much more than the
stock market in general; while our Ultra Conservative template may move only a faction of what the stock
market moves.

Typical sources of information include financial newspapers and magazines, research materials prepared by
others, corporate rating services, annual reports, prospectuses, company press releases, SEC filings, financial
data providers such as Bloomberg and Morningstar, as well as our own in-house research.