Dearborn Partners LLC

Item 5        – Fees and Compensation

         A.      Describe how you are compensated for your advisory services. Provide
                 your fee schedule. Disclose whether the fees are negotiable.

Individual and Fixed Income Clients

We receive compensation from Individual and Fixed Income Clients at the rates agreed to
in written advisory contracts. These fees are usually asset-based management fees, but in
a few cases we charge flat fees. Asset-based fees generally range from 0.25% to 1.00% of
account assets on an annual basis, depending on the strategy and the amount of account
assets. We may reduce the fee on account assets exceeding specified levels.

Individual Client accounts that have assets that are sub-advised by Janus Capital
Management are charged a 0.50% annual fee based on account assets, in addition to
Dearborn’s fee.

Individual Client accounts that have assets that are sub-advised by ARK Investment
Management are charged a 0.45% annual fee based on account assets, in addition to
Dearborn’s fee.

Rising Dividend, Balanced, and Multi Asset Clients

Dearborn receives compensation for managing Rising Dividend, Balanced, and Multi-
Asset accounts by asset-based management fees at the rate agreed to in written advisory
contracts. These asset-based fees generally range from 0.25% to 1.00%, depending on the
amount of account assets as well as other factors.

These accounts may be accounts within wrap fee programs sponsored by other firms,
separately managed Dearborn accounts or accounts invested in the Rising Dividend Fund.
If the Account is part of a wrap fee program, Dearborn’s management fee is negotiated
with and paid by the program sponsor. If the account is a separately managed account, the
fee will be as established in the relevant account agreement with the Rising Dividend
Client. If the account is invested in the Rising Dividend Fund, the fund charges the
management fee and remits payment to Dearborn in the amounts and in the manner

described in the Rising Dividend Prospectus. For a model provider portfolio, investment
adviser(s) pay Dearborn Partners a quarterly flat fee.

Institutional Clients

Dearborn receives compensation for managing Institutional Client accounts by asset-based
management fees at the rate agreed to in written advisory contracts. These fees are
generally asset-based management fees, ranging from 0.3% to 1.0% of account assets on
an annual basis, depending on the strategy and the amount of account assets. Dearborn
generally reduces the fee on account assets exceeding specified levels. The fee will be
based on various factors, such as the chosen strategy, the size of the client account and any
particular services the client requests. Fees for one Institutional Client may differ from the
fees charged to other Institutional Clients in the same strategy.

       B.      Describe whether you deduct fees from clients’ assets or bill clients for
               fees incurred. If clients may select either method, disclose this fact.
               Explain how often you bill clients or deduct your fees.

Individual Clients, Fixed Income Clients and Institutional Clients

We charge advisory fees to Individual Clients and Institutional Clients either by deducting
the fees from a client’s account or billing the client for the fees incurred. Clients may select
either method. Direct billing may not be available for all retirement accounts subject to
ERISA or an IRA subject to the Internal Revenue Code of 1986, as amended. We generally
charge fees quarterly.

Individual Clients that have assets that are sub-advised by Janus Capital Management or
ARK Investment Management agree to have their fees deducted directly from their sub-
advised account.

Fees are charged in advance, quarterly. If a client terminates the account before the end of
the fee period, the client will receive a pro-rated refund for the unused portion of the fee.

Rising Dividend, Balanced, and Multi-Asset Clients

We charge management fees to Rising Dividend, Balanced, and Multi-Asset Accounts
either by deducting the fee from the account or billing the Rising Dividend Client for the
fee. Clients with Dearborn separately managed accounts may select either method, but
those participating in wrap fee programs will pay the program sponsor and those
participating in the Rising Dividend Fund will be charged fees through the fund (which
then remits the fee to Dearborn). We generally charge management fees quarterly to non-
wrap accounts.

Clients with separately managed accounts are charged management fees in advance in
some cases and in arrears in others; the client may elect either method. If Dearborn charges
the fee in advance and the Client terminates the Rising Dividend Account before the end
of the fee period, the client receives a pro-rated refund for the unused portion of the fee.

       C.      Describe any other types of fees or expenses clients may pay in

                 connection with your advisory services, such as custodian fees or
                 mutual fund expenses. Disclose that clients will incur brokerage and
                 other transaction costs, and direct clients to the section(s) of your
                 brochure that discuss brokerage.

Individual Clients and Institutional Clients

In addition to paying Dearborn advisory fees, Individual Clients and Institutional Clients
will also pay other customary securities account fees in connection with the maintenance
of accounts – mainly brokerage commissions, custodial fees, wrap fees (for wrap fee
clients) and dealer mark-ups in the case of non-exchange traded securities.
For Dearborn’s Disciplined Duration Management strategy, fees may be charged on a
gross, net or notional market value as agreed between Dearborn and the client.

See Item 12 regarding brokerage practices.

Rising Dividend, Balanced, and Multi-Asset Clients

In addition to paying the Dearborn management fee, Rising Dividend, Balanced, and Multi-
...

Item 7        – Types of Clients

Describe the types of clients to whom you generally provide investment advice, such
as individuals, trusts, investment companies, or pension plans. If you have any
requirements for opening or maintaining an account, such as a minimum account
size, disclose the requirements.

Dearborn’s clients consist of Individual Clients (individuals, IRAs, estate planning trusts
and similar entities), Fixed Income Clients, Rising Dividend, Balanced, and Multi-Asset
Clients (also individuals, IRAs, estate planning trusts and similar entities) and Institutional
Clients (Taft-Hartley and other retirement plans, corporations, foundations, endowments
and other not-for-profit organizations).

A Rising Dividend, Balanced, or Multi-Asset Account usually requires a minimum of
$100,000 (or a lesser amount as Dearborn may agree with a particular Client), and there
are minimum account requirements for investments in the Rising Dividend Fund as set
forth in the Rising Dividend Prospectus.

An Individual Client Account sub-advised by Janus Capital Management requires a
minimum of $25,000.

An Individual Client Account sub-advised by ARK Investment Management requires a
minimum of $25,000.