Greenspring Advisors LLC

Item 5         Fees and Compensation
                               WEALTH MANAGEMENT FEES
The annualized fee for Wealth Management Services will be charged as a percentage of assets
under management, according to the schedule detailed in the client agreement, not to exceed
1.35% annually of the assets under management.

Based on the fee described above, a minimum annual fee of $5,000 is required for Wealth
Management Services. The minimum fee charged for Wealth Management Services may be
higher than $5,000 for certain office locations of Greenspring. If a client's assets under
management are not sufficient to generate the minimum annual fee, they have the option of
paying the difference (until their assets are sufficient) to receive the desired level of service. For
instance, if a client desires to receive Wealth Management Services and their assets generate
an annualized fee of $4,000, they have the option of paying the difference (i.e., an additional
$1,000) to reach the minimum annual fee of $5,000 until the assets under management are
sufficient to generate the minimum annual fee. Fees are paid by check, wire, ACH, or directly
billed from the client's account.

Limited Negotiability of Advisory Fees: Although Greenspring Advisors has established the
aforementioned fee schedule(s), we retain the discretion to negotiate lower fees on a client-
by-client basis. Client facts, circumstances, and needs will be considered in determining the
fee schedule. These include the complexity of the client, assets to be placed under
management, anticipated future additional assets, related accounts, portfolio style, account
composition, reports, and other factors. The specific annual fee schedule will be identified in
the contract between the adviser and each client.

Discounts, not generally available to our advisory clients, may be offered to family members
and associated persons of our firm.

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 Greenspring and the client will continue in effect until
terminated by either party pursuant to the terms of the Agreement. Greenspring’s fees are
prorated through the date of termination, and any remaining balance is refunded to the client.
For clients billed in advance, if assets are deposited into or withdrawn from an account after
the inception of a quarter that exceed $10,000 in the aggregate during a quarter, the fee
payable with respect to such assets will be prorated based on the number of days remaining in
the quarter.

Advisory Fee Disclaimer: Lower fees for comparable services may be available from other
sources.

Administrative Fees: Greenspring may provide administrative services to clients who hold

security positions that are not included in model portfolios, such as concentrated stock
positions, treasuries, and cash equivalents needed for short-term liquidity needs. The fee for
these services is 0.10%.

                                 FINANCIAL PLANNING FEES
Greenspring Advisors’ Financial Planning fee will be determined based on the nature of the
services being provided and the complexity of each client’s circumstances. All fees are agreed
upon prior to entering into a contract with any client.

Our Financial Planning fees are calculated and charged on a fixed fee basis, typically ranging
from $2,000 to $150,000, depending on the specific arrangement reached with the client.

Alternatively, our Financial Planning fees may be calculated and charged on an hourly basis,
ranging from $150 to $750 per hour. Although the length of time it will take to provide a
Financial Plan will depend on each client's personal situation, we will provide an estimate for
the total hours at the start of the advisory relationship.

We require one-half of the negotiated financial planning fee to be paid at the outset of the
engagement, with the balance due upon completion of the plan. Fees paid in advance will
never be more than six months in advance. Fees that are charged in advance will be refunded
based on the prorated amount of work completed at the point of termination.

Financial Planning Fee Offset: Greenspring Advisors reserves the discretion to reduce or waive
the hourly fee and/or the minimum fixed fee if a financial planning client chooses to engage us
for our Private Money Management or Comprehensive Wealth Management Services.

The client will be billed quarterly in advance based on our total estimated Financial Planning
fees.

The client will be billed quarterly in arrears based on actual hours accrued.

                          RETIREMENT PLAN CONSULTING FEES
Our fees for Retirement Plan Consulting Services are based on a percentage of assets under
advisement and services provided to the client and plan participants, as detailed in the client
agreement, and generally do not exceed 0.50% annually of the assets under advisement.

Alternatively, we may charge an annual fee for Retirement Plan Consulting Services, which
generally ranges from $20,000 to $100,000, depending on the services requested and the size
of the plan.

Plan sponsors are invoiced in advance at the beginning of each calendar quarter, unless their
retirement plan provider's billing system requires billing to occur in arrears. There are two ways

that a Plan might pay our fee.

Employer Pays: An Employer may pay our fee, paying it from the Employer’s money without
using the Plan’s assets.

Plan Pays: - A Plan may pay our fee. To do so, the Plan’s Named Fiduciary or Trustee must have
and use a power to pay us, or to instruct a corporate directed trustee or insurer to pay us. If the
Plan pays our fee, the Named Fiduciary or Trustee decides how to allocate that expense among
the Plan’s accounts, which may include Participants’ Plan Accounts.

A total minimum annual fee of $10,000 is generally required, although exceptions may be
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Item 7        Types of Clients
Greenspring Advisors provides advisory services to the following types of clients:
   •      Individuals (other than high-net-worth individuals)
   •      High net worth individuals
   •      Trusts, estates, non-profit, and/or charitable organizations
   •      Corporations or other businesses not listed above
          o Retirement Plan Services to clients that are sponsors or other fiduciaries to
              plans, including 401(k), 457(b), 403(b), and 401(a) plans. Our firm also provides
              services to plan participants. Plans include participant-directed defined
              contribution plans and defined benefit plans. Plans may or may not be subject
              to ERISA.

As previously disclosed in Item 5, our firm has established certain initial minimum account
requirements, based on the nature of the service(s) being provided. For a more detailed
understanding of those requirements, please review the disclosures provided in each
applicable service.