JP Marvel Investment Advisors Inc

Item 5: Item Fees and Compensation

All clients are required to sign a written investment management agreement, which can be
terminated upon thirty (30) days written notice. All client accounts are generally subject to an
investment management fee based on a percentage of assets under management and currently
ranging between 0.30% - 2% dependent upon the mix of assets in the client’s account and the
strategy employed, billed quarterly in arrears. Fees may be negotiated or modified in J.P. Marvel’s
sole discretion in light of a client’s special circumstances, such as asset levels, service requirements
or other factors. J.P. Marvel may agree to offer clients a fee schedule that is lower than that of any
other comparable clients in the same investment style. Also, there may be historical fee schedules
with longstanding clients that differ from those applicable to new client relationships. For
comparable services, other investment advisers may charge higher or lower fees than those charged
by J.P. Marvel. The Client may authorize the direct deduction of the fee from its account, or may
elect to be billed directly; in which case Advisor will send a fee invoice and fees will be due within
30 days of the mailing of the invoice.

Additional Fees and Expenses Payable by Clients

J.P. Marvel’s fees neither include fees for brokerage commissions, custodial fees, and clearing
costs nor include any additional management fees that may be charged by the underlying
investments selected for the client portfolios, e.g. mutual fund advisory and distribution fees.
Execution of client transactions typically requires payment of brokerage commissions by clients.
“Brokerage Practices” further describes the factors that J.P. Marvel considers in selecting or
recommending broker/dealers for the execution of transactions and determining the reasonableness
of their compensation (e.g. commissions).

Item 7: Types of Clients

J.P. Marvel primarily provides customized investment supervisory services to individuals, trusts,
estates, charitable organizations, corporations, and business entities.

Conditions for Managing Accounts

J.P. Marvel generally requires a minimum account size of $2,000,000. However, the minimum
account size is negotiable and may be waived or modified at the Advisor’s discretion. J.P. Marvel
requires each client to execute an investment management agreement that details the nature of the
discretionary investment advisory authority given to J.P. Marvel.