TAM Financial Advisors LLC

Item 5 – Fees and Compensation

The specific manner in which our fees are charged is established in a written advisory
agreement with the client. A description of the fees applicable to each of our advisory
services is as follows:

Investment Management Services.

TAM will generally bill its investment management advisory fees quarterly in arrears, based
on the market value of the assets under management in your account (as determined by the
independent qualified custodian) on the last day of the previous quarter in accordance with
the below fee schedule. Our advisory fees shall be prorated for each capital contribution of
$100,000 or greater made during the applicable calendar quarter. Accounts initiated or
terminated during a calendar quarter will be charged a prorated fee.

                                     TAM Financial Advisors

                          INVESTMENT MANAGEMENT FEE SCHEDULE

        Asset Under Management                                                Quarterly Fee/ Annual Fee
            First $1,000,000 ................................................................. 0.25 % /1.00 %
            Next $1,000,001 to $2,000,000 ..................................... 0.20 % /0.80 %
            Over $2,000,001 ................................................................... 0.15 %/0.60%

Investment management clients typically authorize our firm and the independent qualified
custodian(s) of the client’s account(s) in writing to withdraw our advisory fees from the
client’s account(s) and then electronically transfer these fees to TAM. In the case of direct
fee deduction, clients are issued a courtesy invoice followed by a 15-day period to raise
questions or disputes before our advisory fees are withdrawn. TAM may also offer
investment management clients the option of traditional direct paper or electronic invoicing
of its advisory fees.

TAM’s advisory fees are dependent on the scope of work and amount of time invested in
managing the client’s assets. Fees for (1) investment management services, and (2)
managing investment advisory accounts not involved in such investment supervisory
services are charged quarterly in arrears as a percentage of assets under management (see
fee schedule above).

Financial Planning Services – Personal Retirement Plans and Personal Financial Plans.

Fees for one-time or annual personal financial planning or personal retirement planning are
charged either hourly or as a flat rate, and all terms of such engagements are set forth in a
written advisory agreement with the client. Our hourly fee is typically $325. Flat fees for the
development of a personal financial or retirement plan typically range between $2,500-
$5,000, depending on the complexity of a client's financial situation or a client’s desire for
additional analysis. Flat fees are negotiated with the client in advance of the delivery of
services and are agreed to in our written advisory agreement with the client.

Pension Consulting Services.

Our fees for pension consulting services may consist of fixed fees (typically ranging from
$1,000 - $10,000 annually), hourly charges (typically ranging from $150 - $325 per hour)
and/or asset based advisory fees based on a percentage of the market value of the plan’s
assets (in accordance with the fees for investment management services described above).
All fixed and hourly fees are invoiced to the client and are payable quarterly, in arrears within
15 days from the date of the invoice. Asset based advisory fees will be withdrawn from the
client’s account(s) (on the client’s written authorization for such direct fee withdrawals) and
then electronically transferred to TAM. In the case of direct fee deduction, clients are issued a
courtesy invoice followed by a 15-day period to raise questions or disputes before our
advisory fees are withdrawn. TAM may also offer pension consulting clients the option of
traditional direct paper or electronic invoicing of its asset based advisory fees.

                                TAM Financial Advisors

The specific fee structure and rate applicable to the client’s account will vary based upon the
nature of the pension consulting services selected, complexity of the engagement, and our
expectation of the time and firm resources necessary to provide services to the client, among
other factors. Fees may vary outside the typical ranges stated above.

Clients may terminate any of TAM’s investment management, financial planning or
pension consulting services at any time and for any reason on written notice to TAM.
Upon termination of any account, any prepaid but unearned fees will be promptly refunded,
and we will waive 100% of any earned but unpaid fees incurred by the client during the
terminating billing period. In general, all of our advisory and planning fees are charged in
arrears; no fees are charged or paid in advance of services provided, and clients may decline
payment if TAM Financial does not provide satisfactory product or service (in accordance
with written contract).

All fees are subject to negotiation and certain clients may pay fees which vary from our
typical fee rates and fee ranges disclosed above. While we believe our fees to be fair and
reasonable, clients are advised that similar services may be available for a lower cost.

TAM’s fees are exclusive of brokerage commissions, transaction fees, and other
related costs and expenses, which shall be borne by the client. Clients may incur certain
charges imposed by custodians, brokers, third party money managers, and other third
parties service providers such as advisory fees, custodial/brokerage fees and commissions,
deferred sales charges, odd-lot differentials, transfer taxes, wire transfer and electronic fund
transfer fees, and other fees and taxes on brokerage accounts and securities transactions.
Mutual funds and exchange traded funds may also charge internal fees, which are disclosed
...

Item 7 – Types of Clients

TAM provides financial planning, investment management and pension consulting services to

                               TAM Financial Advisors

individuals, high net worth individuals, corporate pension and profit-sharing plans, Taft-
Hartley plans, charitable institutions, foundations, endowments, municipalities, registered
mutual funds, private investment funds, trust programs, and other U.S. and international
institutions.

Generally, TAM only accepts clients with more than $1,000,000 in assets under management
but may accept clients with lower assets under management at its sole discretion.

The minimum annual fee for investment management and ongoing (annual) comprehensive
financial planning services is usually $10,000, although fee minimums may be negotiable at
TAM’s sole discretion, based on client circumstances, prior arrangements with TAM, and any
other factors TAM may consider to be relevant.