Investment Management Services RBF provides discretionary investment management services through this Wrap Fee Program whereby participants receive portfolio management, custodial services, trading, and reporting, for one all inclusive fee. RBF begins by assisting a client in assessing their current financial situation, financial goals and attitudes towards risk, and will then recommend an appropriate asset allocation based on that information. After an investment plan is presented to the client, individual portfolios are managed by the advisory representative on a discretionary basis. Portfolios will be invested in a variety of investment classes, including stocks, bonds, mutual funds, and exchange traded funds, among others. Changes to a client's portfolio will be made as necessary based on market, economic, or political circumstances and the individual characteristics of the securities in the portfolio. RBF offers two Wrap Fee programs: Standard Wrap Account Our standard wrap account (held at Fidelity IWS) is a no transaction fee platform that offers complete product availability and no minimum account value. Portfolio Value Maximum Fee $0 - $250,000 2.75% $250,001 - $750,000 2.25% $750,001 - $2,000,000 1.75% $2,000,001 + 1.50% Investment Management Fee Terms Fees are payable in advance, generally on a quarterly basis, and are typically deducted directly from the client’s account. However, in some limited instances, clients may be billed directly. Fees are calculated based on the beginning balance of the account(s) (i.e. based on the ending balance of the prior period) and are charged shortly after the beginning of the applicable billing period.

Fees for new accounts opened during a billing period will be billed in arrears for that initial billing period based on the amount of the initial deposit and will be prorated for the number of days assets will be under management during the initial billing period. Advisory agreements may be terminated by either party at any time by written notice. Upon termination, any unearned prepaid fees will be refunded. Fees for withdrawals out of an account of $100,000 or more will be prorated and refunded based on the number of days assets were under management. Fees for deposits into an account of $100,000 or more will be prorated and charged based on the number of days assets will be under management. The fees listed above, which are negotiable, include portfolio management, custodial services, trading services and reporting. Fees are separate from charges that may be imposed by third parties, such as mutual fund expense charges, etc. Services purchased through this program may cost clients more or less than purchasing similar services from the firm on a stand-alone basis depending on the volume of activity since various costs are paid on behalf of the client through the Wrap Program. Clients should also note that because RBF pays transaction costs on a client’s behalf in the Wrap Program, a conflict of interest exists in that RBF would pay less in trading costs if the firm were to trade less frequently. However, we feel that the cost of trading is not material enough to influence our investment recommendations, and we feel that the harm to our clients and our reputation far outweighs any potential cost savings. It is our policy to always act in the best interests of our clients.