EPIQ Partners LLC

Item 5.           Fees and Compensation

EPIQ offers its services on a fixed fee basis.

Consulting Fees

EPIQ charges a fixed fee for consulting services, which generally range from $1,000 - $25,000. These fees
are agreed to and depend upon the level and scope of the services and the professional rendering of the
consulting services. If the client engages EPIQ for additional investment advisory services, EPIQ may
offset all or a portion of its fees for those services based upon the amount paid for the consulting services.
Prior to engaging EPIQ to provide consulting services, the client is required to enter into a written
agreement with EPIQ setting forth the terms and conditions of the engagement. Generally, EPIQ requires
one-half of the consulting fee payable upon entering the written agreement. The balance is due upon
completion of the agreed upon services.

Investment Management Fee

EPIQ provides investment management services for an annual fixed fee which is negotiable and will not
exceed 1% of the assets under management. In limited instances, the firm has negotiated a fee based
directly on a percentage of assets under management, which also will not exceed 1%. These fees are
exclusive of, and in addition to brokerage commissions, transaction fees, and other related costs and
expenses which are incurred by the client. EPIQ does not, however, receive any portion of these
commissions, fees, and costs. EPIQ’s annual fee is prorated and charged quarterly in advance. The annual
fee varies depending upon the type of investment management services to be rendered.

EPIQ, in its sole discretion, may communicate to charge a reduced management fee based upon certain
criteria (i.e., anticipated future earning capacity, anticipated future additional assets, dollar amount of
assets to be managed, related accounts, account composition, pre-existing client, account retention, pro
bono activities, etc.).

Fees Charged by Financial Institutions

As further discussed in response to Item 12 (below), EPIQ recommends that clients utilize the brokerage
and clearing services of an independent broker-dealer for investment management accounts.

EPIQ may only implement its investment management recommendations after the client has arranged for
and furnished EPIQ with all information and authorization regarding accounts with appropriate financial

institutions. Financial institutions include but are not limited to any broker-dealers recommended by EPIQ,
broker-dealers directed by the client, trust companies, banks etc. (collectively referred to herein as the
“Financial Institutions”).

Clients may incur certain charges imposed by the Financial Institutions and other third parties such as
custodial fees, charges imposed directly by a mutual fund or ETF in the account, which are disclosed in the
fund’s prospectus (e.g., fund management fees and other fund expenses), deferred sales charges, odd-lot
differentials, transfer taxes, wire transfer and electronic fund fees, and other fees and taxes on brokerage
accounts and securities transactions. Additionally, clients may incur brokerage commissions and
transaction fees. Such charges, fees and commissions are exclusive of and in addition to EPIQ’s fee.

EPIQ’s Agreement and the separate agreement with any Financial Institutions authorize EPIQ to debit the
client’s account for EPIQ’s fee and to directly remit that management fee to EPIQ. Any Financial
Institutions recommended by EPIQ have agreed to send a statement to the client, at least quarterly,
indicating all amounts disbursed from the account including the amount of management fees paid directly
to EPIQ. Alternatively, clients may elect to have EPIQ send an invoice for payment.

Fees for Management During Partial Quarters of Service

For the initial period of investment management services, the fees are calculated on a pro rata basis. The
Agreement between EPIQ and the client will continue in effect until terminated by either party pursuant to
the terms of the Agreement. EPIQ’s fees are prorated through the date of termination and any remaining
balance is charged or refunded to the client, as appropriate.

Clients may make additions to and withdrawals from their account at any time, subject to EPIQ’s right to
terminate an account. Additions may be in cash or securities provided that EPIQ reserves the right to
liquidate any transferred securities or decline to accept particular securities into a client’s account. Clients
may withdraw account assets on notice to EPIQ, subject to the usual and customary securities settlement
procedures. However, EPIQ designs its portfolios as long-term investments and the withdrawal of assets
may impair the achievement of a client’s investment objectives. EPIQ may consult with its clients about the
options and ramifications of transferring securities. However, clients are advised that when transferred
securities are liquidated, they are subject to transaction fees, fees assessed at the mutual fund level (i.e.
contingent deferred sales charge) and/or tax ramifications.

Item 7.           Types of Clients
EPIQ provides its services to individuals and their family related entities, which include pension and
profit-sharing plans, trusts, estates, and charitable organizations.

Minimum Fee

As a condition for starting and maintaining a relationship, EPIQ imposes a minimum quarterly fee of

$1,500. This minimum fee may have the effect of making EPIQ’s service impractical for certain clients.
EPIQ, in its sole discretion, may waive its minimum quarterly fee based upon certain criteria including
anticipated future earning capacity, anticipated future additional assets, dollar amount of assets to be
managed, related accounts, account composition, pre-existing client, account retention, and pro bono
activities.