Lehmann Livian Fridson Advisors LLC

Item 5 - Fees and Compensation

   A. Fee Schedule – For our investment supervisory services and consulting services we charge an annual fee
      calculated as a percentage of assets under management, according to the schedule below:

       (i)      INVESTMENT SUPERVISORY SERVICES

                INCOME AND “MULTI-DRIVER” PORTFOLIOS
                Accounts up to $1MM      ..................................................................................              1.00%
                Any additional amounts between $1MM and $5MM ………………………..                                                                 0.75%
                Any additional amount above $5M …………..………………………………                                                                       0.50%

                EQUITY PORTFOLIOS ....................................................................................                   1.50%

                A minimum of $500,000 of assets under management is required for the services above.

                In certain circumstances, this minimum may be negotiable, and may be discounted for previous clients of
                RICHARD LEHMANN & ASSOCIATES, family members and relatives of the unit holders of LLFA.

       (ii)     CONSULTING
                1% of advised assets

       Clients will be charged the fees in advance at the beginning of each calendar quarter based upon the quarter end
       value (market value or fair market value in the absence of market value, plus any credit balance or minus any debit

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        balance) of the client's account for the previous quarter. Initial fees will be prorated for the number of days
        remaining in the quarter and based on the initial balance in the client's account.

        Negotiability of Fees - In certain circumstances, we may negotiate our fees with the clients. We may charge
        different clients receiving the same services different fees. The above fee schedule is our basic fee schedule,
        generally charged to clients absent negotiable circumstances.

        Fee Calculation - The fee charged is calculated as described above and is not charged on the basis of a share of
        capital gains upon or capital appreciation of the assets or any portion of the assets of an advisory client (Section
        205(a)(1) of the Investment Advisers Act of 1940, as amended).

   B. Fees charges methodology - Our clients may select whether they prefer us (i) to deduct our fees from their assets
      or (ii) to bill them for the incurred fees. We will charge (bill or deduct) our fees to our clients in advance at the
      beginning of each calendar quarter based upon the quarter end value (market value or fair market value in the
      absence of market value, plus any credit balance or minus any debit balance) of the client's account for the
      previous quarter. Initial fees will be prorated for the number of days remaining in the quarter and based on the
      initial balance in the client's account.

   C. Fees and Expenses other than advisory fees - All fees paid to LLFA for investment advisory services are separate
      and distinct from the fees and expenses charged by custodians, brokerage firms to their clients and mutual funds to
      their shareholders. These fees and expenses are described in each custodian and brokerage firm’s fee schedule and
      fund's prospectus.

        Certain Custodians may charge a custody fee to hold the assets of the client and maintain their account.

        Clients will incur brokerage and other transaction costs and should refer to item 12 of this document for further
        information.

        Mutual fund fees will generally include a management fee, other fund expenses, and a possible distribution fee. A
        client could invest in a mutual fund directly, without our services. In that case, the client would not receive the
        services that we provide which are designed, among other things, to assist the client in determining which mutual
        fund or funds are most appropriate to each client's financial condition and objectives. Accordingly, the client should
        review both the fees charged by the funds and the fees charged by LLFA to fully understand the total amount of
        fees to be paid by the client and to thereby evaluate the advisory services being provided.

        We will charge fees on cash balances in our clients’ portfolio. If we maintain a certain cash balance in an
        investment plan, it is a reflection of a portfolio construction and investment decision.

   D.   Prepaid advisory fees and refunds - Our clients pay their fees quarterly in advance. A client agreement may be
        canceled at any time, by either party, for any reason upon receipt of 30 days prior written notice. Upon termination
        of any account, any prepaid, unearned fees will be promptly refunded, and any earned, unpaid fees will be due and
        payable.

        We will calculate the prorated amount of fees until the effective day of the termination of the agreement (30
        calendar days after the receipt of the written notice) and refund the client for the balance of the pre-paid fee amount.
        The client has the right to terminate an agreement without penalty within five business days after entering into the
        agreement.

   F.   Other compensation - LEHMANN LIVIAN FRIDSON ADVISORS and our supervised persons do not accept any
        compensation for the sale of securities or other investment products, including asset-based sales charges or service
        fees from the sale of mutual funds.

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Item 7 - Types of Clients

        We generally provide investment advice to the following types of clients:

                           Individuals
                           Trust, estates and charitable organizations
                           Corporations or business entities other than those listed above.

        In order to open and maintain an account we require a minimum account size of $500,000. In certain circumstances
        this minimum may be negotiable for family members of the principals of the firm and relationships that overall
        exceed $500,000 but may be composed of smaller accounts.