Rosenblatt Global Advisors LLC

Item 5: Fees and Compensation
RGA generally charges the following advisory fees based on a percentage of assets
under management:
     Assets under management                       Annual Fee (%)
     First $5 Million                                    2.0%
     Next $5 Million                                     1.75%
     Over $10 Million                                    1.50%

       Fixed-Income Only
       First $5 Million                                   0.25%
       Next $5 Million                                    0.20%
       Over $10 Million                                   0.10%

Rosenblatt Global Advisers                                          Form ADV Part 2A

Fees can be individually negotiated in advance depending on the services to be
rendered, the investment objective and investment strategy, the size of the
account, and other factors. As a result of this practice, RGA may charge different
fees to different clients receiving similar services. Fees will not exceed 2% of
assets under management and will be disclosed in the investment advisory
agreement with the client. If the client prefers to pay a flat fee, that must be
negotiated in advance and depends on the abovementioned factors. Clients
should note that advisory services similar to those rendered by RGA may be
available from other registered investment advisers for lower fees.

RGA deducts the fee automatically from all client accounts each calendar month
in arrears based on the market value of the managed assets as of the last day of
the preceding calendar month. Pershing, as custodian of the account, delivers the
account statement to the client no less frequently than monthly. The account
statements detail the account value on which the fee is based and the amount
charged. Clients are advised to review their statements, and to promptly report
any inaccuracy or discrepancy to RGA.

If RGA’s services terminate other than on the last day of a calendar month, the
fee will be pro-rated to cover the period from the beginning of the calendar
month through the date of termination unless otherwise specified in the client’s
investment advisory agreement.

In addition to investment management fees, the client is subject to brokerage
commissions on equity transactions and markup/markdown fees on fixed-income
securities. Please see Item 12 for a complete description of our brokerage
practices. Other fees incurred relate to the custody of the client’s assets.

Additional expenses also may be incurred if third-party managed products are
held in a portfolio. For example, exchange-traded funds have various
management and administrative fees related to them. These related expenses
are in addition to the management fees charged by RGA. RGA does not receive
compensation for the sale of third-party managed products.

Rosenblatt Global Advisers                                           Form ADV Part 2A

Item 7: Types of Clients
RGA serves institutional investors and high-net-worth investors.

RGA’s minimum account size for SMA clients is $5,000,000.00. Special
considerations may justify acceptance of smaller accounts or rejection of larger
accounts. There is no minimum for non-discretionary model portfolio services.

For discretionary SMAs, RGA requires clients to open or maintain a brokerage
account at RSI and agree to have Pershing perform execution, clearing and
custody services with respect to the account. See Item 4.

RGA reserves the right to terminate its provision of investment advisory services
to a client’s account if the account falls below a minimum size which, in RGA’s
sole opinion, is too small to manage effectively.