Infanger Investment Technology LLC

ITEM 5: FEES AND COMPENSATION

Investment Management Services
Advisory Fees & Billing Practices

Fees for investment management are generally 0.3% per year of the assets under management for global
balanced portfolios and 0.5% per year of the assets under management for Equity Portfolios. These fees
are billed monthly, in arrears, based on the assets under management as of the last day of the month.

The benchmarks are an integral part of an investment strategy and are different for the various strategies
used. For example, for US large cap equities, the S&P500 total return index is used, for European
equities, the MSCI Europe performance index is used as benchmark. For global balanced portfolios, the
benchmark is a combination of the MSCI world (for benchmark the equity part of the portfolio) and the
performance of long-term bonds (for the benchmark fixed income part of the portfolio). The benchmark
equity and fixed income part depends on the strategic goals of the strategy, for example, it could be a
20/80, 40/60, 60/40, or other fraction of the equity/fixed income part.

Payment for all services is due by check or electronic fund transfer.

You may end our advisory relationship by providing 30 days written notice. We will prorate the advisory
fees received through the termination date and send you a refund of the prepaid, unearned portion of your
fee. We process refund payments within 30 days of the termination date and, if applicable, will send you
a check or refund your investment account.

Other Costs Involved

In addition to our advisory fee shown above, you are responsible for paying fees associated with investing
for your account. These fees include:

     mutual fund loads (if applicable). These charges are paid to brokers as a form of commission.

     management fees for ETFs and mutual funds. These are fees charged by the managers of the ETF
      or mutual fund and are a portion of the expenses of the ETF or mutual fund.

     brokerage costs and transaction fees for any securities or fixed income trades. These are
      generally charged by your custodian and/or executing broker.

Software
The cost for the program ranges from $25,000 to 35,000, per year, per copy, depending on the modules
purchased by the client.

ITEM 7: TYPES OF CLIENTS
Typically our clients are investment companies, pension and profit sharing plans, banks and high net
worth individuals.