Romano Brothers and Company

Fees & Compensation

Fees are calculated based upon the total fair market value (FMV) of all securities and cash in the
portfolio at the close of the calendar quarter. To the extent that they are utilized, margin
balances are excluded from the fee calculation and do not reduce the total FMV or
corresponding management fee. For new accounts, the first quarterly fee will be prorated
based upon the time management commences.

There is no guarantee that the RWM investment advisory services offered will result in the
client’s goals and objectives being met. Nor is there any guarantee of profit or protection from
loss. The fees and expenses in connection with these advisory services may be higher than the
cost of similar services offered through other financial firms or the fees associated with other
financial services. Use of asset-based fee or “wrap fee” programs may result in the payment of
fees by clients in excess of the combined total of separate advisory fees and brokerage
commissions paid on an individual transaction basis. Please note that a client may be able to
purchase no-load mutual funds outside of RWM at little or no transaction cost and without the
payment of advisory fees; however, the client will not receive the benefit of the investment
advice and other services that RWM provides to advisory clients.

In general, compensation payable to RWM in connection with investment advisory services is
comparable to compensation charged by other full-service firms for the same services. In some
cases, similar services are available from other sources at lower fees and charges (which may
have the effect of lowering the cost to the customer and/or increasing the return on the
product).

Overall, where we are providing fiduciary services, the goal of our policies and procedures is to
act in good faith and to treat all client accounts in a fair and equitable manner over time,
regardless of their strategy, fee arrangements or the influence of their owners or beneficiaries.
These policies include those addressing the fair allocation of investment opportunities across
client accounts and the best execution of all client transactions.

If cash or cash-equivalent funds in your account are not sufficient to pay the fee or any of the
other fees charged in connection with your account or transactions for your account,
investments in your account may be liquidated in order to pay the outstanding fees. If your

account is managed for only a portion of the quarter, the fee will be prorated accordingly. The
Total Client Fee for a RWM managed account does not include costs or charges associated with
liquidation of a client’s account at a prior manager or custodian.

The Total Client Fee also excludes other related charges, including but not limited to, express
postage and handling charges, returned check charges, short-term mutual fund trading fees,
fees listed in a mutual fund prospectus, Advantage Checking account fees, legal transfer fees,
safekeeping fees, valuation fees, wire or transfer fees, transfer taxes or exchange fees, or other
fees mandated by law, or non-brokerage related fees such as Individual Retirement Account
(“IRA”) trustee or custodian fees and tax qualified retirement plan account fees, each of which
is charged separately. These related charges are collected by First Clearing.

Fee Schedule:

         Actively Managed Accounts                         Passively Managed Accounts
 Accounts under $500,000                            Customer Charge
 1.00% of assets                                    0.75% on all assets

 Accounts over $500,000                             Fees paid by Romano Wealth Management
 $1,000 base fee plus                               0.15%-.01% -- Platform fee
 0.75% of assets up to $1 million plus              0.10% -- Sub-manager fee
 0.65% of assets over $1 million plus
 0.60% of assets over $5 million                    Net Fee to Romano (at entry tier)
                                                    0.50%

Collection
Fees are paid quarterly in arrears (active management) or advance (passive management) and
are generally deducted from the client portfolio. Clients can also elect to pay fees from outside
funds. The fee will be computed and billed at the end of each calendar quarter by applying one
quarter of the applicable annual rate to the market value of the portfolio, as defined above, on
the last trading day of the preceding quarter.

Other Fees
A full listing of fees may be found on our website at www.romanowealth.com. Most of these
fees are not applicable to discretionary accounts.

However, other fees that may be applicable include:

Wire transfer fee:                   $25 per occurrence

Clients are not charged a commission on equity trades, however a mark-up or mark-down may
be included on fixed income trades. RWM, as principal, does buy or sell fixed income securities
from or to its clients through the broker dealer arm of the firm which gives us direct access to

the broader inter-dealer bond market. This access gives us the ability to search for undervalued
bonds and competitively bid them. These bonds are reoffered to our clients at competitive
yields relative to their comparative benchmarks.

Our policy is to mark up or mark down securities from the inter-dealer bid or offer price as
specified in the investment management contract. This policy yields additional compensation to
the firm and as such might provide a potential conflict of interest. We believe this conflict is
mitigated because if the securities were not purchased through the firm, a similar markup or
markdown would be applied by another executing firm, though we cannot guarantee whether
the concession would be more or less. To further mitigate any conflict, the amount of any
markup or markdown is detailed on all fixed income trade confirmations and advisory
customers have up to five business days after settlement to rescind a fixed income trade they
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