; or (cc) any additional information treated as education by the Secretary. . (2) Exemption relating to investment advice Section 408(b) of the Employee Retirement Income Security Act of 1974 is amended by adding at the end the following: (21) (A) Any transaction, including a contract for service, between a person providing investment advice described in section 3(21)(A)(ii) and the advice recipient in connection with such investment advice, and any transaction consisting of the provision of such investment advice, if the following conditions are satisfied: (i) No more than reasonable compensation is paid (as determined under paragraph (2)) for such investment advice. (ii) If the investment advice is based on a limited range of investment options (which may consist, in whole or in part, of proprietary products), such limitations, including a clearly stated notice that the same or similar investments may be available at a different cost (greater or lesser) from other sources, shall be clearly disclosed to the advice recipient prior to any transaction based on the investment advice. The notice shall only state the following: The same or similar investments may be available at a different cost (greater or lesser) from other sources. . (iii) If the investment advice may result in variable compensation to the person providing the investment advice (or any affiliate of such person), the receipt of such compensation, including a clearly stated notice that the same or similar investments may be available at a different cost (greater or lesser) from other sources, shall be clearly disclosed to the advice recipient. The notice shall only state the following: The same or similar investments may be available at a different cost (greater or lesser) from other sources. . For purposes of this subparagraph, clear disclosure of variable compensation means notification prior to any transaction based on the recommendation, in a manner calculated to be understood by the average individual, of the following: (I) A notice that the