Flaharty Asset Management LLC

Item 5         Fees and Compensation

Retirement Plan Portfolio Management

Investment Advisory Fees

Investment advisory fees for investment management services are based on the value of assets managed by
the Advisor, calculated as a percentage of assets under management. This fee is compensation for advisory
services and portfolio management rendered by the Advisor.

The Advisor charges no more than 2.00% annually for its portfolio management services. The amount of the
investment advisory fee will be set out in the Investment Advisory Agreement executed by the client at the
time the relationship is established.

The investment advisory fee is negotiated on a client-by-client basis depending on the size, complexity and
nature of the portfolio managed and will be set forth in the Investment Advisory Agreement. Because the
Advisor’s fees are negotiated, not all clients will pay the same fees. A client may pay a higher or lower fee
depending on considerations such as the size of the client’s account, the amount of time the client has

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maintained an account with the Advisor, and/or the combined market value of related portfolios. While the
Advisor believes that its investment advisory fees are competitive, clients may find lower or higher fees for
comparable services from other sources.

Investment advisory fees are charged quarterly in advance as a percentage of the portfolio value on the last
business day of the previous quarter or the last value provided by the custodian. These asset-based fees are
assessed on all billable assets under management, including securities, cash, and money market funds.

The initial investment advisory fee will be based on and deducted from client’s account value when the
account is transferred to Custodian. The initial fee will be pro-rated based upon the number of days from the
first day of management to the end of the quarter. Subsequent investment advisory fees are determined as a
percentage of the portfolio value on the last business day of the previous quarter or the last value as provided
by the Custodian. The quarterly fee payable shall be calculated as set forth in the Terms.

The Advisor may make amendments to the investment advisory fee schedule outlined in the Investment
Advisory Agreement at any time with at least 30 days written notice to the client.

Automatic Debiting of Investment Advisory Fees

Upon establishing an account with the Advisor, the client will authorize and direct the client’s custodian broker-
dealer to debit his/her account each investment advisory fee payable from the account which will result in the
client’s custodian broker-dealer sending the investment advisory fee payable directly to the Advisor unless
other arrangements are set forth in the Investment Advisory Agreement.

At the beginning of the quarter, the Advisor will direct the client’s custodian broker-dealer to debit the client’s
designated account(s) the amount of the investment advisory fee. If the client’s account does not maintain a
sufficient cash or money market balance to cover the investment advisory fees or is restricted from automatic
debiting of fees, the client may deposit additional funds (subject to certain restrictions Qualified Retirement
Plans) or make payment in an alternative manner acceptable to the Advisor. If such funds are not deposited,
certain securities in the client’s account may be liquidated in an amount sufficient to cover such debits.

Brokerage Account Fees

The Advisor’s investment advisory fees are separate from charges assessed by third parties, such as broker-
dealers, custodians, or mutual fund companies.

A client incurs brokerage and other transaction costs charged by broker-dealer(s) executing the transactions
and the custodians maintaining the client’s assets. These costs include, but are not limited to, brokerage
transaction and money movement costs, commissions, ticket charges, fed fund wire fees, custodial fees, and
margin interest. These costs are in addition to the Advisor’s investment advisory fees and are not shared with
the Advisor.

Mutual funds charge an advisory fee in addition to the management fee a client pays to the Advisor. Some
funds also assess administrative fees and 12b-1 fees. The Advisor does not receive any portion of these fees.
These fees are in addition to the investment advisory fees the Advisor charges. The client does not pay these
fees directly; rather, they are deducted from the mutual fund’s assets and will affect the performance of the
investment. These funds’ advisory, administrative, and 12b-1 fees are described in the funds’ prospectuses.

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Mutual fund share prices and execution costs differ based on share class. In certain instances, the Advisor will
review the cost of a fund’s share classes in conjunction with execution costs to assure that it meets its fiduciary
duty to obtain best execution.

When investing in Exchange Traded Funds (“ETF”), a client will bear the ETF’s proportionate share of fees and
expenses as an investor in the ETF. The client does not pay these fees directly; rather they are deducted from
the ETF’s assets and will affect the performance of the investment.

The Advisor has established a relationship with LPL and Charles Schwab & Co., Inc. (“Schwab”) to facilitate
certain additional services which are outlined in the section “Brokerage Practices” below. Clients choosing an
alternate broker-dealer may result in additional expenses, fees, and lack of efficiency in reporting account
information. For information about the factors the Advisor considers in selecting and/or recommending
brokerage firms, see “Brokerage Practices” below.

Termination
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Item 7          Types of Clients

The Advisor generally offers advisory services to individuals, pension, and profit-sharing plans including plans
subject to Employee Retirement Income Security Act of 1974 (“ERISA”), corporations and other business
entities, trusts, estates, and charitable organizations.

There is a minimum investment of $250,000, although the Advisor may accept smaller accounts at its
discretion.