North Pier Fiduciary Management LLC

Item 5. Fees and Compensation

We are required to describe any brokerage, custody, fees, and fund expenses so you will know how
much you are charged and by whom our advisory services are provided to you. Our fees are
negotiable. At our firm’s sole discretion, we may offer a discount or negotiate a different fee schedule
than those outlined below. Factors that may influence a negotiated rate include, but are not limited to,
the complexity of the engagement, the total amount of assets under management, the anticipated
level of service required, or a pre-existing historical relationship with the firm.

Compensation for Our Advisory Services

(i) OCIO and Consultant Search & Evaluation Services

                   Number of Candidates                                   Advisory Fee Charged
            Narrow Invited Search (4-6 candidates)                          $45,000 - $95,000
            Wide Invited Search (8-12 candidates)                          $75,000 - $120,000
      Open Search (published and open to all respondents)                   Minimum $90,000

* Please note, the fee ranges above are for typical projects. All fees are scope dependent depending
on project complexity.
(ii) Asset Management:
         Assets Under Management                                    Flat Fee Charged
               First $2,500,000                      Up to $25,000; plus the tiered schedule below

         Assets Under Management                   Maximum Annual Percentage of Assets Charge
              Next $7,500,000                                       0.50%
              Next $15,000,000                                      0.40%
              Next $25,000,000                                      0.30%
              Next $50,000,000                                      0.20%
          $100,000,000 and Above                                    0.15%

The fee schedule for Asset Management outlined above is a blended fee schedule. For example, if a
client has $30,000,000 in assets under management, the annualized advisory fee will be $137,500,
assuming the maximum tiered fee is charged as outlined above. The calculation will be as follows:

($25,000) + ($7,500,000 x 0.50%) + ($15,000,000 x 0.40%) + ($5,000,000 x 0.30%) = $137,500
annualized fee.

Our fees for Asset Management are billed on a pro-rata annualized basis quarterly in advance based
on the value of your account on the last day of the previous quarter and adjusted for unbilled cash
flows that occurred during the prior quarter. Additionally, our firm bills on cash and cash equivalents
unless indicated otherwise in writing. Fees will generally be automatically deducted from your
managed account. In rare cases, we will agree to directly bill clients. As part of this process, you
understand and acknowledge the following:

       a) Your independent custodian sends statements at least quarterly to you showing all
          disbursements for your account, including the amount of the advisory fees paid to us;
       b) You provide authorization permitting us to be directly paid by these terms;
       c) If we send a copy of our invoice to you, our invoice includes a legend as required by
          paragraph (a)(2) of Rule 206(4)-2 under the Investment Advisers Act of 1940.

Our firm urges the client to compare information provided in their statements with those from the
qualified custodian in account opening notices and subsequent statements sent to the client for
whom the adviser opens custodial accounts with the qualified custodian.

(iii) Referrals to Third Party Money Managers:

We are not paid by third party money managers when we refer you to them and you decide to open
a managed account. We will debit our fees in accordance with our standard asset management fee
schedule, and the third-party manager shall debit their fees in addition to ours. Third party money
managers establish and maintain their own separate billing processes which we have no control over.
In general, they will directly bill you in addition to the fees charged by NPFM and describe how this
works in their separate written disclosure documents.

The fees charges by the third-party manager are set forth in separate written disclosures you need
to be provided with; including a copy of the third party money manager’s Form ADV Part 2, all
relevant Brochures, and a copy of the third party money manager’s privacy policy. The third-party
money managers we recommend will not directly charge you a higher fee than they would have
charged without us introducing you to them.
(iv) Participant Directed Retirement Plan Advisory Services:

         Assets Under Management                           Annual Advisory Fee Range
              First $20,000,000                                   Up to $40,000
              Next $30,000,000                                  $17,000 - $40,000
              Next $50,000,000                                  $25,000 - $75,000
          $100,000,000 and Above                     $25,000 minimum, maximum is negotiable

Our firm’s participant directed retirement plan advisory fees are billed on a pro-rata annualized basis
quarterly in arrears and are either charged on a negotiated flat fee or based on the value of the
participant directed retirement plan’s account on the last day of the previous quarter. North Pier
receives no other compensation from any other source. The fees described above are billed directly
to the client, and are subject to negotiation based on the complexity of the plan, the anticipated work

involved, etc.

The fee schedule outlined above is a blended fee schedule. For example, if a client has $50,000,000 in
assets under management, the annualized advisory fee will be $75,000, assuming the maximum
tiered fee is charged as outlined above. The calculation will be as follows:

($40,000) + ($40,000) = $80,000 annualized fee.

(v) Employee Education and Communication and Advice
...

Item 7. Types of Clients and Account Requirements

We have the following types of clients:
   • Pension and Profit Sharing Plans; and
   • Non-profit Organizations (Endowments, Foundations, Hospital Systems, and other Charitable
      Organizations); and
   • Healthcare Systems; and
   • Insurance Companies; and
   • Family Offices, Trusts, Estates, and Accredited Individuals and families; and
   • Select Individuals

Our requirements for opening and maintaining accounts or otherwise engaging us:

    •   We require a minimum account balance of $2,500,000 for our Asset Management service.
        Generally, this minimum account balance requirement may be negotiable and would be
        required throughout the course of the client’s relationship with our firm. Our firm may waive
        this requirement at our sole discretion.