Westward Investment Advisory LLC

Item 5 Fees and Compensation
Portfolio Management Fees
Investment advisory fees are typically charged as a percentage of assets under management by WIA
and are subject to negotiation. For small client accounts, WIA may charge a minimum annual fee in
accordance with the client fee agreement. Fees will be billed in advance or in arrears, on a quarterly
basis, based on a mutual agreement with the client. For the initial quarter of an investment advisory
engagement, the first quarter's fees may be calculated on a pro rata basis depending on the starting
date of the engagement.

Investment advisory fees charged by WIA are described in detail in the client investment advisory
agreement. Fees are based on the following schedule and may be negotiated based on the nature of
the investment advisory engagement.

Fee Schedule

   Incremental Assets Under Management               Investment Advisory Fee
                Up to $1,000,000                      100 basis points (1.00%)
             On the next $2,000,000                   80 basis points (0.80%)
             On the next $2,000,000                   60 basis points (0.60%)
            On the next $10,000,000                   40 basis points (0.40%)
            On the next $10,000,000                   35 basis points (0.35%)
            On the next $25,000,000                   30 basis points (0.30%)
                Over $50,000,000                             Negotiable

Portfolio management fees will typically be billed quarterly in advance based on the value of the assets
on the last business day of the preceding calendar quarter. Fees will be assessed pro rata in the event
the portfolio management agreement is executed at any time other than the first day of the calendar
quarter.

WIA may charge a fixed fee for certain clients based on the complexity of the services provided. Fixed
fees are subject to negotiation and are billed quarterly in advance.

Consulting services can be charged on an hourly basis, quarterly in advance, as agreed upon with the
client and stated in the client agreement.

 Payment of advisory fees are made either through a debit directly to your account by the qualified
custodian holding your funds and securities or you may elect to receive an invoice and pay WIA
directly.

WIA will not have access to client funds for payment of fees. Further, the qualified custodian agrees to
deliver an account statement, at least quarterly, directly to the client showing all disbursements from
the account. The client is encouraged to review account statements for accuracy. WIA will receive a
duplicate copy of or will have electronic access to the statement that was delivered to the client.

Management fees are negotiable based upon the client's individual needs and circumstances, such as
the account size and nature of the investment activity within the account.

WIA or the client may terminate the management agreement within five days of the date of acceptance
without penalty to the client. After the five day period, either party may terminate the management
agreement upon 30 days written notice to the other. The management fee will be pro-rated for the
quarter in which the cancellation notice was given and any unearned fees will be returned to the client.

Financial Planning Fees
Generally, the Firm's fee for financial planning services ranges will be quoted and charged on a fee for
service basis. Generally, WIA requires that 50% of the estimated fee be paid in advance, with the
remaining portion due upon completion of the services rendered. At the Firm's discretion, the financial

planning fees and fee payment arrangements may be negotiated with the client on an individual basis
depending upon the client's individual needs and circumstances. In all such cases, the fees and terms
of the agreement will be clearly set forth in the financial planning agreement.

Selection of Other Advisers
Advisory fees charged by TPMMs are separate and apart from our advisory fees. Assets managed by
TPMMs will not be included in the calculation of our advisory fee and are not included in the fee
schedule set forth in the Portfolio Management section in this brochure. Advisory fees that you pay to
the TPMM are established and payable in accordance with the brochure provided by each TPMM to
whom you are referred. These fees may or may not be negotiable. You should review the
recommended TPMM's brochure and take into consideration the TPMM's fees along with our fees to
determine the total amount of fees associated with this program.

You may be required to sign an agreement directly with the recommended TPMM(s). You may
terminate your advisory relationship with the TPMM according to the terms of your agreement with the
TPMM. You should review each TPMM's brochure for specific information on how you may terminate
your advisory relationship with the TPMM and how you may receive a refund, if applicable. You should
contact the TPMM directly for questions regarding your advisory agreement with the TPMM.

Additional Fees and Expenses
WIA currently utilizes external and unrelated qualified custodians for all its client custodial
arrangements. Any custodial fees assessed by the custodian will be deducted from the client's
account. Clients may incur other fees such as transaction fees or brokerage fees. These charges and
fees are typically imposed by the broker-dealer or custodian through whom the transactions are
executed.

As part of the investment advisory services provided, we may invest, or recommend that clients invest,
in mutual funds and exchange traded funds. The fees paid to our firm for investment advisory services
are separate and distinct from the fees and expenses charged by mutual funds or exchange traded
funds (described in each fund's prospectus) to their shareholders. These fees will generally include a
management fee and other fund expenses.

We do not receive directly or indirectly any of these additional fees charged to you.

Item 7 Types of Clients
WIA generally provides investment advisory services to the following types of clients:

    •   Not-for-profit organizations
    •   Individuals, trusts, and estates
    •   Family offices
    •   Retirement plans
    •   Corporations

We do not require a minimum portfolio size, but we reserve the right to charge a minimum annual
management fee and to terminate an account if it falls below a minimum size which, in our sole
opinion, is too small to manage effectively. We will also, in some instances, combine accounts of a
single client relationship to offer a preferred fee arrangement.