New Vernon Wealth Management LLC

FEES AND COMPENSATION

Advisory Fees. NV-WM charges each Client an asset-based fee equal to a percentage of the assets in such
Client’s account, as set forth in the Client’s investment advisory agreement. NV-WM’s fee is charged at
different rates based on the value of the Client’s account, with the overall rate decreasing as the Client’s
assets under management with NV-WM increase. NV-WM’s current fee schedule is as follows:

                     Aggregate Dollar Value of             Annualized Fee Rate
                     Assets in Client’s Account
                   $0 - $499,999.99                                1.50%
                   $500,000 - $999,999.99                          1.25%
                   $1,000,000 - $1,999,999.99                      1.00%
                   $2,000,000 and up                               0.85%

These fees may be negotiated by NV-WM with respect to certain Client accounts based on a variety of
factors, which may include the size and composition of the Client’s account, special services agreed upon
with the Client, additional costs associated with servicing international Clients or other factors deemed
relevant by NV-WM. Accounts of multiple Clients who reside in the same household may be combined
and charged fees on an aggregate basis. In addition, NV-WM has, and may again in the future, waive or
reduce fees to be paid by clients related to NV-WM or its principals or affiliates.

NV-WM has entered into solicitation agreements with third-parties (each, a “Third-Party Introducer”) that
may introduce certain of their non-U.S. clients to NV-WM. As is disclosed to any such solicited clients,
Clients referred to NV-WM pursuant to these solicitation agreements (“Solicited Clients”) may be charged
a higher advisory fee than those specified in the chart above. Generally speaking, fifty percent (50%) of
these advisory fees will be paid to the applicable Third-Party Introducer. The differential increase in the
advisory fees paid by such introduced clients to NV-WM is not expected to exceed 150 basis points (1.50%)
of the Solicited Client’s account value, per annum.

The annualized fee payable to NV-WM by a Client is paid on a quarterly basis, in advance. Fees generally
are deducted from the Client’s account in custody at the clearing broker for the Client’s account (the
“Clearing Broker”). The first payment generally is due upon NV-WM’s determination of the initial
allocation of a Client’s account assets after execution of the Client’s investment advisory agreement, and
will be prorated for any partial quarter. Subsequent payments generally are due and will be assessed on the
first day of each calendar quarter based on the value of the Client’s assets under management at the
beginning of such quarter.

In the event that a Client’s investment advisory agreement with NV-WM is terminated during a calendar
quarter, NV-WM will calculate and refund to the Client the “unearned” portion of its fee for such calendar
quarter, based on the number of days remaining in the quarter after the agreement is terminated.

Other Fees and Expenses. NV-WM’s fees are exclusive of transaction fees and other related costs and
expenses that will be incurred by a Client with respect to the transactions in its account. (See “Brokerage
Practices” below for additional information regarding the brokerage arrangements for Client accounts.)
Additionally, NV-WM’s fees described above do not include Individual Retirement Account (“IRA”) and
Qualified Retirement Plan account termination fees (if applicable), which will also be billed to the Client
(as applicable). Aside from the fees NV-WM imposes, Pershing charges the following fees on all retirement
account Clients: (1) annual maintenance fees and (2) fees for private placement with certain externally
managed private funds, including annual administration fees and transaction fees.

Clients will also bear the investment management or other fees charged by any mutual funds, exchange-
traded funds (“ETFs”), other funds and investment products in which the Client’s account may invest.
Clients should carefully read the offering documents for such funds or investment products for a complete
description of applicable fees. Such fees are in addition to NV-WM’s investment advisory fees as described
above. Finally, as described below in “Client Referrals and Other Compensation,” NV-WM’s affiliate, SFI,
has in some cases received and/or may in the future receive: (i) rebates from Pershing, LLC (“Pershing”)
for certain administrative and/or recordkeeping services based on the average amount of Client cash

balances invested through a money market program; (ii) 12b-1 fees in relation to mutual fund positions
transferred into Client accounts; (iii) margin interest on the amount of any outstanding margin balances in
a Client account; and (iv) a percentage of the net income from a fully paid securities lending transaction
involving certain Clients’ Pershing accounts.

              PERFORMANCE BASED FEES AND SIDE-BY-SIDE MANAGEMENT

Unless otherwise negotiated, NV-WM currently does not charge its Clients any performance-based fees
(fees based on a share of capital gains on or capital appreciation of the assets of a Client). Please see “Other
Financial Industry Activities and Affiliations -- Other Activities of NV-WM and Related Persons” for a
discussion of the management of accounts with different fee structures by NV-WM and its affiliates.

TYPES OF CLIENTS

NV-WM provides investment advice primarily to high net worth families and individuals, but also advises
other individuals, trusts, defined benefit and defined contribution plans, profit sharing plans, charitable
organizations, corporations and other entities.

         METHODS OF ANALYSIS, INVESTMENT STRATEGIES AND RISK OF LOSS

NV-WM’s investment approach is based upon consideration of each Client’s short, intermediate and long
term investment goals and the Client’s current situation and outlook, income and capital needs and risk
tolerance. After obtaining information about a Client’s investment needs, goals and risk tolerance NV-WM
typically will develop an investment plan for that Client. These are reviewed with the Client and may be
revised based on Client feedback. Once finalized with the Client, NV-WM will begin implementing the
Client’s investment plan.