For portfolio management services, the client will pay the annualized fees described below. Account Value................... Quarterly Fee............. Annual Fee Equity / Total Return First $2,000,000....................... 0.25%................... 1.000% Next $3,000,000....................... 0.21875%.............. 0.875% Next $5,000,000....................... 0.1875%.................0.75% Over $10,000,000..................... 0.125%.................. 0.50% Fixed Income First $2,000,000....................... 0.1875%................. 0.75% Next $3,000,000....................... 0.15625%............... 0.625% Next $5,000,000....................... 0.125%................... 0.50% Over $10,000,000..................... 0.10%..................... 0.40% The fee will be due and payable quarterly in advance on the market value of the account assets including cash under management as of the close of business on the last business day of the quarter. The fee will be payable when the account is established, pro-rated for the first partial quarter, if any. If an account is closed, any fees collected but unearned after the date of written notice will be refunded. Fees are generally deducted directly from client accounts at appropriate custodial accounts; clients receive an invoice from Starboard and/or quarterly account statements from the custodian showing the fee deduction.   Link to ADV: http://www.adviserinfo.sec.gov/IAPD/Content/Search/iapd_StateReg.aspx