Jocelyn Investment Management LLC

Item 5         FEES AND COMPENSATION

ADVISORY FEES
For its investment management clients, Jocelyn charges a fee based on a percentage of the
market value of the investments held each client’s account. Assets in the account are included
in the fee assessment unless specifically identified in writing for exclusion.

The management fee is billed quarterly, in advance, and prorated for accounts established or
terminated at times other than the start of the quarter. The management fee is based on the
value of the assets as of the last day of the prior quarter. Values are generally obtained from the
custodian of the client’s account and are derived from readily available market sources such as
securities exchanges and from independent pricing sources.

The management fee is assessed in accordance with the following blended fee schedule:

  Value of Account Assets                                                        Annual Fee Rate
  On the market value of Account up to $1,000,000                                1.00% plus
  On the market value of Account above $1,000,000 up to $5,000,000               0.75% plus
  On the market value of Account above $5,000,000                                0.50%
  Minimum Annual Fee                                                             $5,000

Under certain circumstances, based upon the size and nature of the client’s account and the
complexity of the services requested, Jocelyn in its discretion may agree to assess a different
management fee.

Clients are invoiced in advance at the beginning of each calendar quarter. Clients customarily
authorize Advisor to deduct its quarterly investment advisory fee directly from their custodial
account. This authorization is granted under the terms of the client’s signed investment
management agreement and the client’s instructions to the custodian. Jocelyn sends the client
a copy of the investment advisory fee invoice when it requests payment from the client’s

custodian. It is the client’s responsibility to verify the accuracy of the fee calculation, as the
custodian will not determine whether the fee is properly calculated. Any discrepancy in fees
should be communicated immediately to Advisor within 30-days of the billing date.

RETIREMENT PLAN SERVICES INVESTMENT MANAGEMENT FEE
Jocelyn is affiliated with entities that provide services to retirement plan (see Item 10, below for
additional details). The annual fee for retirement plan services will generally be a percentage of
assets within the plan based upon the following blended fee schedule:

  Value of Account Assets                                                        Annual Fee Rate
  On the market value of Account up to $5,000,000                                0.50% plus
  On the market value of Account above $5,000,000 up to $10,000,000              0.40% plus
  On the market value of Account above $10,000,000                               0.30%
  Minimum Annual Fee                                                             $5,000

In its discretion, Jocelyn may charge a client a flat fee for its Retirement Plan Services.

FEES FOR OTHER FINANCIAL CONSULTING SERVICES
For its financial consulting services, Jocelyn charges a fee ranging between $300 and $350 per
hour or provides services on the basis of a fixed fee established at the time of the retention. All
fees for financial consulting are within the discretion of the Firm and depend upon the complexity
of a client’s requirements. Ongoing fees are payable as invoiced.

GENERAL FEE DISCLOSURES
We believe our investment management fees are competitive with the fees charged by other
investment advisors for comparable services. However, comparable services are available from
other sources for lower fees than those charged by Jocelyn.

The client’s fee to the Firm is determined in accordance with the above fee structures, with
exceptions negotiated on a case-by-case basis at our discretion. Any deviations from the
applicable fee structure are based upon a number of factors including the amount of work
involved, the amount of assets placed under management and the attention needed to manage
the account. Services provided for the above fees are for investment advice or consultation and
quarterly reporting of asset holdings, valuations and performance reviews.

Jocelyn does not provide clients advice as to the tax deductibility of its advisory fees. Clients are
directed to consult a tax professional to determine the potential tax deductibility of the payment
of advisory fees.

To the extent that a client authorizes the use of margin, and margin is thereafter employed by our
portfolio managers in the management of the client’s portfolio, the market value of the client’s
account and corresponding fee payable by the client to Jocelyn may be increased. As a result,
in addition to understanding and assuming the additional principal risks associated with the use
of margin, clients authorizing margin are advised of the potential conflict of interest whereby the
client’s decision to employ margin could correspondingly increase the management fee payable
to the Firm. Accordingly, the decision as to whether to employ margin is left to the sole discretion
of client.

CUSTODIAN AND BROKERAGE FEES
Clients incur certain charges imposed by their custodians and other third parties such as custodial
fees, deferred sales charges, odd-lot differentials, transfer taxes, wire transfer and electronic fund
fees, and other fees and taxes on brokerage accounts and securities transactions. Additionally,
clients will incur charges by the executing broker-dealer in the form of brokerage commissions
and transaction fees on the investment transactions entered into for their account(s). All of these
charges, fees and commissions are in addition to Advisor’s investment management fee.

FUND DISCLOSURES
Mutual funds, closed-end funds, exchange traded funds and alternative investment funds are
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Item 7         TYPES OF CLIENTS

Our clients include high net worth individuals, qualified retirement plans, trusts, corporations and
other business entities.