Martin Capital Partners LLC

Item 5 – Fees and Compensation

MCP generally charges a percentage-of-assets fee for its investment advisory services. Compensation paid to
MCP for its services is calculated in accordance with “Schedule A” of each client’s investment advisory
agreement, which may be amended from time to time by MCP upon 30 days prior written notice to client.
Such fees will be paid directly to MCP from the account by the custodian upon submission of an invoice to
custodian. Clients may request their fees to invoiced and billed outside of their account. Payment of fees may
result in the liquidation of client securities if there is insufficient cash in the account. Clients will receive
notice of fees charged quarterly.

In consideration for MCP’s services, the client will pay MCP a fee quarterly in advance, with payment due
within 10 days from the date of the invoice. The fee will be equal to the agreed upon rate per annum,
multiplied by the market value of the account, divided by the number of days in the agreed upon year and
multiplied by the number of days in the quarter. The market value will be construed to equal the sum of the
values of all assets in the account, not adjusted by any margin debit. Fees for partial quarters at the
commencement or termination of this Agreement will be billed or refunded on a pro-rated basis contingent
on the number of days the account was open during the quarter. Quarterly fee adjustments for additional
assets received into the account during a quarter will be calculated on the above pro rata basis.

Fee Schedule for Assets Under Direct Management:

     1.30% on assets under $1,000,000
     0.95% on assets in excess of $1,000,000

Fee Schedule for Assets Under Dual Contract Management (Sub-Advised):

     0.50% on all assets

Fee Schedule for Institutional Assets Under Direct Management:

     0.55% on assets under $10,000,000

     0.40% on assets between $10,000,001 and $20,000,000
     0.25% on assets in excess of $20,000,000

Although MCP has established the aforementioned fee schedule(s), we retain the discretion to negotiate
alternative fees on a client-by-client basis.

For purposes of determining value, securities and other instruments traded on a market for which actual
transaction prices are publicly reported shall be valued at the last reported sale price on the principal market
in which they are traded (or, if there shall be no sales on such date, then at the mean between the closing bid
and asked prices on such date). Other readily marketable securities shall be priced using a pricing service or
through quotations from one or more dealers. All other assets shall be valued at fair value by MCP whose
determination shall be conclusive. MCP may modify the terms in this Section prospectively on at least 30
days prior written notice.

A client may be required to pay, in addition to MCP’s fee, a proportionate share of fees and charges of any
mutual fund held in the client’s account. All brokerage commissions, custodial, and stock transfer fees, and
other similar charges incurred in connection with transactions for the account will be paid out of the assets in
the account and are in addition to the investment management fees paid to MCP. Please refer to Item 12 –
Brokerage Practices for more information on how we select the broker-dealers used.

Item 7 – Types of Clients

Martin Capital Partners provides portfolio management services to individuals, high net worth individuals,
trusts, corporations, corporate pension and profit-sharing plans, other investment advisers, banking or thrift
institutions, charitable organizations, foundations, and endowments.

MCP generally requires assets in the amount of $1,000,000 as a condition for starting or maintaining an
investment advisory account with assets under direct management and assets under dual contract
management. MCP may consider providing investment advisory services for accounts with less than
$1,000,000 in assets in its sole discretion and on a case-by-case basis. MCP generally requires assets in the
amount of $10,000,000 as a condition for starting or maintaining an institutional investment advisory account.