Moors & Cabot Inc

Item 5           Fees and Compensation

 Investment Advisory Fees (PMP)

 Moors & Cabot generally charges management fees according to the following description.

 Asset-Based Fee

 In an advisory account, we charge either a flat percentage across all assets or an asset-based fee
 on a quarterly basis based on a tiered fee rate schedule. The fee is negotiable on a case-by-case
 basis, dependent upon a number of variables (e.g., account size, geographic region, types of
 securities / complexities, etc.) as negotiated between each client and his/her Moors & Cabot
 representative. The fee structures are set forth in the following Schedules.

 Schedule A — Flat Advisory Fee Schedule:

   Negotiated Annual Fee % on Total Account Value

   ____ %

             Or,

 Schedule B — Tiered Advisory Fee Schedule:

     Tier           Account Value Range                Negotiated Annual % Fee*
     1              $0 To $249,999.99
     2              $250,000 To $499,999.99
     3              $500,000 To $999,999.99

PART 2A OF FORM ADV: FIRM BROCHURE

     4              $1,000,000 To $2,999,999.99
     5              $3,000,000 To +

 * Annual fee percentages are charged proportionally and according to each tier. (Example – for an
 account value of 300,000.00 – The fee charged on the first $249,999.99 will be the percentage listed
 in Tier 1. The fee charged on the remaining $50,000.01 will be the percentage listed in Tier 2.)

 Unless approved by M&C’s Senior Management and agreed to by Client, the minimum fee rate is .5%
 and the maximum rate is 1.5%. Our advisor fees may be higher or lower than the fees charged by
 other firms that are registered as investment advisors and broker dealers.
 Asset-based fees are billed on a quarterly basis. When an account is opened, the initial fee will be
 based on the value of the account on the day the contract is initially approved. The fee will be
 prorated to cover the period from the approval date through the end of the then current full
 calendar quarter. Thereafter, the fee will be based on the account value of on the last business day
 of the preceding quarter, will be due the following business day, and will cover that next calendar
 quarter. Unless otherwise agreed to by Moors & Cabot and the client, an Investment Advisory
 Agreement will provide that the management fee be deducted directly from the client’s account.

 M&C, in many instances, agrees to aggregate or “household” assets under management across
 accounts with M&C to determine the applicable fee breakpoints. Any agreed upon aggregation
 shall be: (1) reflected in the investment advisory agreement between M&C and the client; (2)
 documented in M&C’s books and records; and (3) compliant with M&C’s internal policies and
 procedures. Aggregate assets under management may include assets of the client’s household
 (including, but not limited to spouses and dependent children) and accounts over which the Client
 has authority (i.e., Limited Power of Attorney, Trustee) as well as grantor trust assets funded by a
 client where the client is not a Trustee.

 Under this fee structure, Moors & Cabot will also “credit” to your investment advisory account any
 12b-1 distribution fees we receive from your mutual fund assets. See Item 5 at “Other Fees and
 Expenses”, below, for more information.

 PMP “Advice Only”
 Moors & Cabot may charge either a fixed fee or a percentage on Held Away Assets that may be
 negotiable when entering into the agreement. “Advice Only” asset-based fees are billed on a
 quarterly basis in advance. When a customer and representative enter into an “Advice-Only” service
 agreement, the pro- rated fee billed for the remainder of the first quarter is based on the value of
 the asset on the date the agreement is signed (or otherwise agreed to by both parties). Thereafter,
 the quarterly fee is based on the market value of the asset on the last business day at the end of
 the previous quarter.

 Either party may terminate the “Advice-Only” agreement at any time without penalty. Upon
 termination, the client will receive a refund for a pro-rated portion of the prepaid quarterly fee. If
 a client chooses to terminate the agreement within five (5) business days of signing, the client will
 be entitled to a full refund.

PART 2A OF FORM ADV: FIRM BROCHURE

 Wrap Fee Programs

 A Wrap Fee Program is a program with a fee structure whereby normal securities transaction costs
 (e.g., commissions) are included in the overall wealth management fee paid to M&C. This means
 that the principal cost to a client in a Wrap Fee Program is the bundled wealth management fee.
 While the cost of the Wrap Fee Program varies depending on services to be provided to each client,
 once a client chooses the Wrap Fee Program, the client is not charged more if there is higher
 trading activity in the client’s account.

 M&C sponsors a Wrap Fee Program called the Portfolio Management Program (PMP). In addition,
 M&C selects programs sponsored by third-party money managers. Here they are:

 Programs Sponsored by RBC Capital Markets

 For the listed separately managed account programs sponsored by RBC:

  ●   RBC Advisor
  ●   RBC Unified Portfolios
  ●   RBC Consulting Services

 Other Sponsored Programs Available through RBC Correspondent Services Platform

  ●   Envestnet-Leading provider of integrated portfolio solutions offering traditional separately
      managed accounts (SMA), model-based managers, unified managed accounts (UMA) as well
      as ETF, Mutual Fund, and Fixed Income Solutions.

  ●   State Street Global Advisors (SSGA)-) – Strategic ETF Model Portfolios that tailor portfolios in
      smaller accounts to client’s investment objectives and risk tolerances.

  ●   Socially Responsible Investing (SRI) – Various offerings focusing on Environmental, Social, and
      Governance (ESG)

 Wrap Program Conflicts of Interest
...

Item 7 Types of Clients

 Moors & Cabot provides advisory services to the following types of clients:

  •   Individuals (other than high-net-worth individuals)
  •   High-net-worth individuals
  •   Corporations or other businesses
  •   Pension and profit-sharing plans
  •   Trusts, estates
  •   Charitable organizations

 Please see Items 4 and 5 of this Part 2A for additional details.