L K Benson & Company PC

Item 5: Fees and Compensation

Overview
We base our fees on hourly charges and fixed fees, which are described below.

Investment Advisory Services Fee
Fees for Investment Advisory Services are typically billed quarterly in advance. The quarterly
retainer fee established for these services are based on the complexity of a client’s financial
situation and is confirmed in the client’s investment advisory agreement. This fee covers not
only the investment advisory services but may also include advice in other areas such as
financial planning or tax preparation. Annual fees typically range between $10,000 - $32,000.

Upon termination of any account, any prepaid, unearned fees will be promptly refunded, and
any earned, unpaid fees will be due and payable.

Financial Planning and Tax Planning and Preparation Services Fees
Fees for project-based Financial Planning and Tax Planning and Preparation Services are billed
at an hourly rate with a range from $195 to $585 per hour, depending on the level of the
individual performing the service. Fees are due monthly in arrears. These fees are negotiable
and are established as stated in the client’s engagement letter.

Agreement Terms and Termination
A client may terminate its engagement with written notice to LKB and will be effective upon
receipt. Upon termination, fees paid in advance will be prorated and any unearned portion will
be returned to the client. The refund will be calculated based on the number of days remaining
in the billing period after the date of termination. Fees paid in arrears will be pro-rated and any
earned portion will be due to LKB. The fee will be calculated based on the number of days
during the billing period that the account was managed before the date of termination.

General Information on Compensation and Other Fees
In certain circumstances, fees and payment terms are negotiable depending on client’s unique
situation. Certain clients may pay more or less than others depending on the amount of assets,
type of portfolio, or the time involved, the degree of responsibility assumed, complexity of the
engagement, special skills needed to solve problems, the application of experience and
knowledge of the client’s situation.

LKB’s fees are exclusive of brokerage commissions, transaction fees, and other related costs
and expenses which shall be incurred by the client. Clients may incur certain charges imposed
by custodians, brokers, third party investment and other third parties such as fees charged by
managers, custodial fees, 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. Mutual funds and exchange traded funds also charge internal
management fees, which are disclosed in a fund’s prospectus.

Such charges, fees and commissions are exclusive of and in addition to LKB’s fee, and LKB shall
not receive any portion of these commissions, fees, and costs.

Clients should note that similar advisory services may (or may not) be available from other
registered investment advisers for similar or lower fees.

Types of Clients
LKB’s clients include individuals, high net worth individuals and their families.

Account Minimums
We have no minimum account size.