A. Description of the Advisory Firm Private Wealth Strategies, L.L.C. (hereinafter “PWSL”) provides portfolio management to clients under this wrap fee program as sponsor and portfolio manager. Please see item 6.C Advisory Business describing the advisory services offered under this wrap fee program. Total Assets Under Management Annual Fee $0 - $1,249,999 1.40% $1,250,000 - $1,999,999 1.00% $2,000,000 - $4,999,999 0.90% $5,000,000 - $9,999,999 0.80% $10,000,000 - $24,999,999 0.65% $25,000,000 - AND UP 0.50% These fees are generally negotiable and the final fee schedule will be memorialized in the client’s advisory agreement. Portfolio management fees are withdrawn directly from the client’s accounts with client’s written authorization on a quarterly basis. Fees are paid in advance. Refunds are given on a prorated basis, based on the number of days remaining in the billing period on the effective date of termination. The fee refunded will be the balance of the fees collected in advance minus the daily rate* times the number of days in the billing period up to and including the effective date of termination. (*The daily rate is calculated by dividing the annual asset-based fee by 365. In the event that this occurs during a leap year the calculation will be (*The daily rate is calculated by dividing the annual asset-based fee by 366. ) PWSL uses the value of the account as of the last business day of the billing period for purposes of determining the market value of the assets upon which the advisory fee is based. Clients may terminate the Investment Advisory Contract immediately upon written notice. B. Contribution Cost Factors The program may cost the client more or less than purchasing such services separately. There are several factors that bear upon the relative cost of the program, including the trading activity in the client’s account, the adviser’s ability to aggregate trades, and the cost of the services if provided separately (which in turn depends on the prices and specific services offered by different providers). Fees paid under the wrap fee program are not based directly upon the actual transaction or execution costs for the transactions within a client’s account. Depending on the underlying investments in a client’s wrap fee program account and how much trading the client expects to do within the wrap fee program account, the client may pay more for a wrap fee program account than if the client chose

another PWSL advisory program that is not part of a wrap fee program, or if the client chooses to pay separately for all of the transaction costs (e.g., pay the advisory fee plus all commissions). C. Additional Fees PWSL will wrap third party fees (i.e., custodian fees, brokerage fees, transaction fees, etc.) for wrap fee portfolio management accounts. PWSL will charge clients one fee, and pay all transaction fees using the fee collected from the client. PWSL does not have an arrangement with any other adviser to act as a sub-adviser for any wrap fee client account. Should PWSL have a arrangement in place to sub-advise client accounts, PWSL will cover outside portfolio management fees. PWSL will not cover mutual fund expenses in addition to the list below which describes additional fees that are not typically covered under a Wrap fee: >Annual and/or maintenance fees, which are disclosed in the appropriate disclosure documents by the Custodian; >Charges by the Custodian to deliver statements, confirms and/or reports in paper format; >Electronic fund, wire, account transfer fees and/or overnight shipping fees; >Charges imposed directly by a mutual fund purchased for the client’s account, which shall be disclosed in the mutual fund’s prospectus (e.g. fund management fees and other fund expenses), fund redemption fees; >Transfer taxes; >Exchange or similar fees (such as for ADRs) charged by third parties, including issuers, and fees required by the SEC; and PWSL does not receive, directly or indirectly any of these fees charged to you. They are paid to your Broker, Custodian or the mutual fund or other investments you hold. Clients participating in the wrap fee program are charged a higher fee than clients not managed in the wrap fee program. Accounts participating in the wrap fee program are not charged higher advisory fees based on trading activity, but clients should be aware that PWSL has an incentive to limit trading activities for those accounts since the firm absorbs those transaction costs. D. Compensation of Client Participation Neither PWSL, nor any IARs of PWSL receive any additional compensation beyond advisory fees for the participation of client’s in the wrap fee program. However, compensation received may be more than what would have been received if client paid separately for investment advice, brokerage, and other services. Therefore, PWSL may have a financial incentive to recommend the wrap fee program to clients.