Legacy Advisors LLC

Item 5 Fees and Compensation
Please refer to the "Advisory Business" section in this brochure for information on our advisory fees,
fee deduction arrangements, and refund policy according to each service we offer.

Portfolio Management Services
If the client determines to engage Legacy to provide investment advisory services, Legacy’s annual
investment advisory fee shall vary (generally, up to 1.25%). Our annual portfolio management fee is
billed and payable quarterly in arrears based on the balance at the end of the billing period. When
calculating its advisory fee, Legacy generally includes cash and cash equivalent positions (see below),
as well as accrued earnings, such as accrued interest and accrued dividends, unless otherwise agreed
in writing. If the portfolio management agreement is executed at any time other than the first day of a
calendar quarter our fees will apply on a pro rata basis, which means that the advisory fee is payable
in proportion to the number of days in the month for which you are a client. Our advisory fee is
negotiable, depending on individual client circumstances. Our fees shall be revised at the first
anniversary of execution of your Agreement, and at every subsequent anniversary thereafter, based on
the Consumer Price Index for Urban Wage Earners (CPI). Basis point fees are not subject to the CPI
adjustment. This fee can otherwise be modified with mutual written consent of the Client and Legacy
Advisors.

Legacy treats cash as an asset class. At any specific point in time, depending upon perceived or
anticipated market conditions/events (there being no guarantee that such anticipated market
conditions/events will occur), Legacy may maintain cash or cash equivalent positions for defensive,
liquidity, or other purposes. As such, unless otherwise agreed in writing, all cash and cash equivalent
positions (including but not limited to money markets, certificates of deposit, etc.) shall be included as
part of the client’s assets under management for purposes of calculating Legacy’s advisory fee. While
assets are maintained in cash or cash equivalents, such amounts could miss market advances. In
addition, depending upon current yields, at any point in time, the advisory fee charged by Legacy could
exceed the interest on a client’s cash and cash equivalent positions (i.e., Legacy’s annual fee could
exceed the interest paid in a money market vehicle).

Please Note: Fee Differentials. Because we shall generally price our advisory services based upon
various objective and subjective factors, our clients could pay diverse fees based upon a combination
of factors, including but not limited to the market value of their assets, the complexity of the
engagement, the level and scope of the overall investment advisory services to be rendered,
negotiations, and other factors, similarly situated clients could pay diverse fees, and the services to
be provided by Legacy to any particular client could be available from other advisers at lower fees
(Also See Item 7 below). All clients and prospective clients should be guided accordingly. ANY
QUESTIONS: Legacy’s Chief Compliance Officer, Matthew Sgro remains available to address any
questions regarding Fee Differentials.

Betterment Program
If a client determines to participate in the Betterment Program, the client will incur separate and distinct
fees attributable to Legacy and Betterment. Legacy’s annual portfolio management fee is based on the
value of the assets in the Betterment Program as of the last day of the period in accordance with the
following tiered fee schedule:

        Assets                         Flat Fee
        $0 - $5,000,000                1.00%
        $5,000,001 - $10,000,000       0.75%
        $10,000,001 - $25,000,000      0.50%
        $25,000,001 - $50,000,000      0.35%
        Over $50,000,000               0.25%

Legacy, in its sole discretion, may charge a lesser investment advisory fee and/or charge a fixed fee
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, prior fee

schedules, competition, negotiations with client, etc.). Please Note: As result of the above, similarly
situated clients could pay different fees. In addition, similar advisory services may be available from
other investment advisers for similar or lower fees. ANY QUESTIONS: Legacy’s Chief Compliance
Officer, Matthew Sgro remains available to address any questions regarding Betterment Program fees.

Participants in the Betterment Program will also incur a wrap fee to be charged and collected by
Betterment. Betterment’s annual wrap fee shall generally be based on the average daily balance of
assets invested in the Betterment Program in accordance with the following tiered fee schedule:

       Assets                         Tiered Fee
       First $2,000,000                0.25%
       Amounts over $2,000,000         0.15%

To illustrate the above, a client placing $5,500,000 in the Betterment Program would pay a 1.00%
annual fee to Legacy on the first $5,000,000, a 0.75% annual fee to Legacy on the remaining
$500,000, a 0.25% annual fee to Betterment on the first $2,000,000, and a 0.15% fee to Betterment on
the remaining $3,500,000.

Both Legacy’s and Betterment’s fees for the Betterment Program shall be assessed and charged on a
quarterly basis, in arrears.

Please Note: The wrap fee charged by Betterment for participation in the Betterment Program is
subject to change on thirty (30) days advance notice to the client. Clients are advised to carefully
review their wrap fee program agreement with Betterment and any subsequent communications
received from Betterment for the most up to date information relative to Betterment’s wrap fee.

As indicated above, access to the Betterment Program is no longer offered to clients of Legacy;
...

Item 7 Types of Clients
We offer investment advisory services to individuals, including high net worth individuals, trusts,
estates, charitable organizations, corporations, and other business entities.

Legacy does not impose a minimum asset level or minimum annual fee requirement for opening or
maintaining an account. As discussed in Item 5 above, Legacy's advisory fee shall be based upon
certain subjective and objective criteria (i.e. anticipated future earning capacity, anticipated future
additional assets, dollar amount of assets to be managed, related accounts, account composition,
type/scope of services to be rendered, negotiations with client, etc.). Please Note: As result of the
above, similarly situated clients could pay different fees. In addition, similar advisory services may be
available from other investment advisers for similar or lower fees. Any Questions: Legacy’s Chief
Compliance Officer, Matthew Sgro, remains available to address any questions that a client or
prospective client may have regarding the above.