LP Investment Management LLC

Item 5- Fees and Compensation
   A. Our Compensation
Fees are set based upon the unique needs of each Client and the range of services they require. The
amount of the fee charged to each Client is negotiable and may be different depending upon the
scope of the engagement. We do not have a “fee schedule.”
   B. How we collect fees
Clients are billed for all fees and expenses monthly, in advance. Our engagement may be
terminated by written notice from the Client at any time without penalty; upon termination the
Client will be sent a bill for all fees and expenses due as of the date of termination.
   C. Other fees or expenses
Each Client will separately bear all costs and expenses related to its investment program, including
brokerage fees and fees charged by underlying managers. However, other than the fees discussed

in Item 5.A above and reimbursement for out-of-pocket expenses, the Adviser will not charge any
additional expenses or fees to Clients.
   D. Advance Payment
Fees are billed monthly in advance. The Adviser generally does not refund any portion of the
monthly fee if a Client terminates the engagement during the month.
   E. Compensation for Sales of Securities
Neither the Adviser nor its supervised persons accepts compensation for the sale of securities or
other investment products.

Item 7- Types of Clients
The Adviser’s Clients are primarily high net worth individuals and families. The Adviser also
offers investment advisory services to corporations, partnerships, trusts, estates and charitable
organizations. The Adviser does not have a minimum account size requirement for its Clients.