O'Brien Investment Management LLC

ITEM 5 FEES AND COMPENSATION

Fee Schedule

O’Brien charges advisory fees for investment management services. All fees are negotiable.
O’Brien’s advisory fees are charged based on a percentage of the client’s total assets under
management. The maximum annual rate is 1% and under certain circumstances a minimum
annual fee may apply. Under no circumstances will the advisory fee exceed 3%. The advisory
agreement between O’Brien and the client will state the client’s annual fee. Our standard fee
schedule may be negotiable based on a number of factors, which include but are not limited to
“grandfathered” accounts, related accounts, and other structures that we may consider in special
situations. We also manage some family and related accounts at a discount or without charge. Adviser
may charge the custodian account for certain additional assets managed for Client by the Adviser
(i.e. accounts not held by the Custodian, ‘household accounts, ’variable annuities, mutual funds, 401-
--K).

FEE SCHEDULE

1.00% of the first $1,000,000

0.90% of the next $2,000,000 (up to $3,000,000)

0.75% of the next $2,000,000 (up to $5,000,000)

0.60% of the next $5,000,000 (up to $10,000,000)

0.50% on assets above $10,000,000

Lower fees for comparable services may be available from other sources.

An additional fee of .25% for a Held Away Account will be added to the overall fee. The Advisory Fee
payable for any Held Away Account will be deducted directly from another Client Account, and if
there are insufficient funds available in another Client Account or we believe that deducting the
Advisory Fee from another Client Account would be prohibited by applicable law, we will invoice the

Client.

Billing Method

O’Brien’s advisory fees are payable quarterly at the end of each calendar quarter in arrears. We
charge one fourth of the annual fee each quarter based on the market value of the client’s portfolio
as of the last day of the calendar quarter. Fees will be adjusted for contributions or withdrawals in
excess of 10% of the market value of a client’s account by prorating the fee accordingly. For new
client accounts, the calculation of the first payment will take into consideration the number of days
in the quarter and the value of the portfolio at the end of the quarter.

With client authorization, O’Brien will automatically withdraw O’Brien’s advisory fee from the
client’s account held by an independent custodian. All clients will receive brokerage statements from
the custodian no less frequently than quarterly. The custodian statement will show the deduction of
the advisory fee for those clients who authorize the advisory fees to be withdrawn directly from their
custodian account. Clients who choose to not to have advisory fees withdrawn directly from the
custodian account are expected to pay O’Brien upon receipt of the invoice. The invoice will include
the fee calculation and amount due.

O’Brien’s fees do not include custodian fees. Clients pay all brokerage commissions, stock transfer
fees, and/or other similar charges incurred in connection with transactions in accounts from the
assets in the account, which are in addition to the fees client pays to O’Brien.

Termination

Either party may terminate the advisory agreement at any time by providing written notice to the
other party. The client may terminate the agreement at any time by writing O’Brien at our

office. Upon termination of the agreement the client’s account will be debited the prorated
quarterly fee, charged in arrears.

Other Compensation

O’Brien does not accept compensation for the sale of securities or other investment products.
O’Brien’s only compensation is the advisory fees clients pay to O’Brien.

ITEM 7 TYPES OF CLIENTS
O’Brien offers discretionary investment advisory services to individuals, high net worth individuals,
trusts and estates, and individual participants of retirement plans. In addition, we offer advisory
services to charitable organizations and businesses.

O’Brien does not have requirements, such as account minimums, for opening or maintaining an
account.