Franklin Parlapiano Turner & Welch LLC

FEES AND COMPENSATION

 A. The Managed Account Program Fee Schedule appears below.

                             Managed Account Program Fee Schedule

  Account Size Over        But Not Over         Annual Fee is          Plus        Of Amount Over
           $0               $1,000,000                  $0              1.25%              $0
      $1,000,000            $2,000,000                $12,500           0.70%         $1,000,000
      $2,000,000            $3,000,000                $19,500           0.65%         $2,000,000
      $3,000,000            $6,000,000                $26,000           0.60%         $3,000,000
      $6,000,000            $8,000,000                $44,000           0.50%         $6,000,000
      $8,000,000            $12,000,000               $54,000           0.40%         $8,000,000
      $12,000,000           $50,000,000               $70,000           0.35%        $12,000,000

Depending on the facts and circumstances of each case, the Managed Account Program fees may be
negotiable. Our fees are not based on a share of capital gains or capital appreciation of the funds or
any portion of the funds in your account.

If you have more than one account, FPTW will combine all or a portion of the accounts for
purposes of the above fee schedule unless you and FPTW have specifically agreed to exclude
certain assets, securities, or accounts (e.g., legacy assets that are not under management by FPTW).
It is your obligation to notify FPTW of any related or household accounts.

FPTW may change the above fee schedule by providing 30-day written notice to you.

                             Franklin, Parlapiano, Turner & Welch LLC
FPTW makes exceptions to its general fee schedule under certain circumstances (e.g.,
responsibilities involved, related accounts, preexisting client, pro bono activities, etc.). In such
cases, lower or higher fees or different payment arrangements can be negotiated with each client
separately and will be described in the client’s Investment Advisory Agreement. FPTW has
“Courtesy Accounts” that we have opened for family members of Managed Account Program
clients; however, FPTW neither actively manages these courtesy accounts nor receives fees from
them.

We do not recommend the use of margin for investment purposes. However, if a client determines
to take a margin loan that collateralizes a portion of the assets that we are managing, our fee will be
computed based upon the full value of the assets, without deducting the amount of the margin loan.
FPTW likely will have an economic disincentive to recommend that the client terminate or reduce
their margin balance. Clients are responsible for determining whether to use, reduce, or terminate
their use of margin. Our Chief Compliance Officer remains available to address any questions that
a client or prospective client may have regarding the use of margin.

B.     If a client terminates our relationship during the quarter, a client will pay a pro-rata portion of
the advisory fee based on the number of days the account was under FPTW’s management. FPTW
does not generally charge fees for the partial quarter when an account is opened. You may either
elect to have FPTW bill you each quarter for your Managed Account Program fees or you may
authorize FPTW to deduct the fees directly from your accounts with Fidelity. You will need to grant
FPTW the authorization to debit your fee. If the fees are deducted directly from an account,
Fidelity will provide you with a monthly statement that lists the total fees deducted from the
account as well as all transactions that were conducted in the account that month. Additionally,
FPTW will provide you with a fee invoice that identifies the advisory fee, the value of the account,
and how the fee was calculated. If your account does not contain sufficient funds to pay the
advisory fees, FPTW has limited authority to sell or redeem securities in sufficient amounts to pay
its advisory fees, in which case you can experience tax consequences. Except for ERISA and IRA
accounts, you may reimburse your account for advisory fees paid to FPTW.

C.    Security transactions may incur a transaction fee, brokerage fee, or similar fee and accounts
may be subject to fees for custodial services and/or account maintenance fees. These fees are
included in our wrap-fee program fees, the Managed Account Program. You should read the wrap-
fee program disclosure brochure (Part 2A Appendix 1) for additional disclosures.

In addition, client accounts may invest in mutual funds (including money market funds) and ETFs
that have various internal fees and expenses (i.e. management fees), which are paid by these funds
but ultimately borne by clients as a fund shareholder. These internal fees and expenses are in
addition to the fees charged by FPTW. These fees are not shared with FPTW and are compensation
to the fund manager. Client assets can be invested in a share class of a mutual fund with internal
fees and expenses that are higher than one or more other available share classes of the fund. You
should read the mutual fund prospectus prior to investing.

D.    Managed Account Program fees are charged in advance on a quarterly calendar basis. The
quarterly advisory fee will be based on the value of the account on the last business day of the
previous calendar quarter. When terminating our relationship, fees for partial periods will be prorated.

                             Franklin, Parlapiano, Turner & Welch LLC
You may make additions to your account or withdrawals from your account, provided the account
continues to meet minimum account size requirements. Unless our relationship is terminated during
a quarter, we will not make any adjustments for assets deposited into or withdrawn from an account
during a billing period. No fee adjustments will be made during the quarter for account appreciation
or depreciation due to market fluctuations.

Termination Provisions
...

TYPES OF CLIENTS

FPTW’s services are geared toward high-net-worth individuals, trusts, and estates.

FPTW generally requires an aggregate relationship minimum of $3,000,000 to commence an
engagement. However, FPTW, in its sole discretion, may charge a lesser investment management
fee or reduce or waive its aggregate relationship minimum based upon certain criteria (i.e.
anticipated future earning capacity, anticipated future additional assets, dollar amount of assets to
be managed, related accounts, account composition, negotiations with client, etc.). As a result,
similarly situated clients could pay different fees. In addition, similar advisory services may be
available from other investment advisers for similar or lower fees. You should be aware that
performance may suffer due to difficulties with diversifying smaller accounts. Performance of
smaller accounts may vary from the performance of larger accounts because fluctuations in the
market may adversely affect smaller accounts.

METHODS of ANALYSIS, INVESTMENT STRATEGIES and RISK of LOSS

A.   FPTW conducts fundamental analysis. Fundamental analysis generally involves assessing a
company’s or security’s value based on factors such as sales, assets, markets, management,
products and services, earnings, and financial structure.

Mutual funds and ETFs are selected based on the Firm’s internal screening process using
predetermined filters (e.g., long-term fund performance and volatility, manager tenure, operating
costs, and the fund’s adherence to the firm’s investment philosophy, etc.). After a fund is chosen
for the firm's investment portfolio, it is then reviewed quarterly by the Firm’s Investment

                              Franklin, Parlapiano, Turner & Welch LLC
Committee. Funds that do not continue to meet the firm’s investment philosophy are replaced.
Common stocks for the FPTW Global Stock Program are chosen based on several fundamental
analysis metrics (e.g., history of cash flow, dividends, business model, debt ratios, etc.). Individual
bonds are chosen based on credit quality, type of issuer, guarantees, yield, duration, and coupon.

B.    Investing in securities involves risk of loss, including the potential loss of the principal
money you are investing. Therefore, your participation in the asset management services offered by
FPTW requires you to be prepared to bear the risk of loss as well as the fluctuating performance of
your accounts. Market values of investments will always fluctuate based on market conditions.

FPTW does not represent, warrant, or imply that the services or methods of analysis used can or
will predict or ensure future results, successfully identify market tops or bottoms, or insulate you
from losses due to major market corrections or crashes. Past performance is not an indication of
future performance. No guarantees can be offered that your goals or objectives will be achieved.
Further, no promises or assumptions can be made that the advisory services offered by FPTW or
our Advisory Representatives will provide a better return than other investment strategies.

C.    As stated above, FPTW uses mutual funds, ETFs, individual bonds, and treasury inflation
protected securities in client portfolios with the exception of the Global Stock Program. The risks
with these funds include the costs and expenses within the fund that can impact performance,
change of managers, and/or the fund straying from its stated investment objective. Open-ended
mutual funds do not typically have a liquidity issue and the price does not fluctuate throughout the
trading day. Mutual fund and ETF fees are described in their prospectuses, which the custodian
mails directly to the client following any purchase that is new to the client’s account. In addition, a
prospectus is available online at each fund company’s website. At the client’s request at any time,
FPTW will direct the client to the appropriate webpage to access the prospectus.