New Century Partners

Item 5.          Fees and Compensation

NCP’s compensation is negotiable and varies, but it typically charges an annual fee of 0.10% to
0.50% of assets under management. The fee is payable in quarterly installments, generally at the
beginning of each calendar quarter, based on the net market value of each client’s account on the
date the fee accrues and becomes payable. NCP bills each client quarterly for its fees, rather than
deducting them from the client’s account.

NCP occasionally provides investment management services at a rate of $450 per hour or other

rate negotiated with the client.

NCP’s client accounts that invest in mutual funds and venture capital and private equity funds
also pay, indirectly, investment advisory fees and/or performance-based compensation to the
managers of those funds.

NCP believes that its fees are competitive with fees charged by other investment advisers for
comparable services. Comparable services may be available, however, from other sources for
lower fees.

Except as may be otherwise negotiated in particular cases, a client may terminate the account by
giving 30 days’ prior written notice.

In all cases, expenses, the pro rata portion of the management fee through the date of termination
are charged to the account. All prepaid but unearned advisory fees are refunded on termination
of a client’s account.

Each account is responsible for its own costs and expenses, including trading costs and expenses
(such as brokerage commissions and clearing and settlement charges), custodial fees, and any
ongoing legal, accounting and bookkeeping fees and expenses. NCP’s brokerage practices are
discussed below in Item 12. NCP bears its own operating, general, administrative and overhead
costs and expenses, other than the expenses described above.

Item 7.        Types of Clients

NCP provides investment advice to pension and profit-sharing plans and other institutions. NCP
generally requires a minimum of $50,000,000 to open a client account, but may waive this
minimum.