Stephenson and Company Inc

Item 5 Fees and Compensation
The Adviser bases its fees on a percentage of assets under management, hourly charges or fixed
fees.

The initial meeting is free of charge and is considered an exploratory interview to determine the extent
to which financial planning and/or investment management may be beneficial to the client.

Comprehensive Financial Planning
The fee for these services will be determined by the planner and agreed upon by the client in advance.
The amount of the fee will be determined by the complexity of the client's needs, subject to a minimum
of $2,000. On occasion, the stated fee is negotiated lower.

The agreed-upon fee will be paid one-half at the time of the first appointment, with the balance due at
the time of the plan presentation to the client. We will not require prepayment of a fee more than six
months in advance and in excess of $1,200. At our discretion, we offset our financial planning fees to
the extent you implement the financial plan through our Investment Management Service.

The client can cancel the services within the first five days for a complete refund of all fees paid. With a
new or existing client whose financial situation has changed so dramatically that a new plan must be
done, the initial gathering of information, development of the plan, presentation and explanation of the
plan to the client and study and decision making by the client cover a period not to exceed six months.

Custom Designed Modular Financial Planning
The fee for these services will be determined by the planner and agreed upon by the client in advance.
The amount of the fee will be determined by the complexity of the client's needs, subject to a minimum
of $1,000. On occasion, the stated fee is negotiated lower. The agreed upon fee will be paid one-half
at the time of the first appointment with the balance due at the time of the plan presentation. At our
discretion, we offset our financial planning fees to the extent you implement the financial plan through
our Investment Management Service. We will not require prepayment of a fee more than six months in
advance and in excess of $1,200. The client can cancel the service within the first five days for a
complete refund of all fees paid.

Hourly Consultations
This arrangement will be billed on an hourly basis at a rate of $400 - $600 per hour, which is
negotiable depending on the scope and complexity of the plan, your situation, and your financial
objectives. Payment is due on completion of the consultation.

Investment Management and Consulting
Investment accounts established with Schwab contain stocks, no-load mutual funds and exchange-
traded funds ("ETFs"). Schwab charges transaction fees on purchases or sales of certain mutual
funds. These transaction charges are usually small and incidental to the purchase or sale of a security.

Mutual Fund Models Program: The SEI Program Fee associated with participation in the Mutual Fund
Models Program generally consists of only a custodial services fee. However, where you implement
any recommendation to purchase non-SEI managed mutual funds or other securities for your account
(or otherwise direct us to purchase securities or mutual funds for your account that are outside of SEI's
Mutual Fund Models Program), additional fees, ticket charges and commissions will apply. Generally,
SEI's custodial fee applies only where the balance in your account falls below a minimum required
balance as set forth in SEI's custodial agreement with the client. Clients should be aware that for
assets invested in SEI managed mutual funds through this program, the client as a shareholder of
such SEI mutual funds, will pay management fees and other fund level expenses to SEI and its
affiliates. We do not receive any portion of these fund level fees. Please see SEI's Firm Brochure
and/or account agreements for a complete description of the SEI Program Fee associated
with participation in this program.

The Adviser's current investment management and consulting fee schedule is as follows. Additionally,
some legacy clients have an established fee schedule that differs from the below stated fees.

                  Annual and Quarterly Investment Management Fees
                   for aggregate value of accounts up to $1,000,000
Value of assets under management                     Annual Fee         Quarterly Fee
$0 – $999,999                                               1.0%                0.25%

                  Annual and Quarterly Investment Management Fees
                for aggregate value of accounts in excess of $1,000,000
Value of assets under management                        Annual Fee          Quarterly Fee
First
                                                           0.75%              0.1875%
$2 million
Next
                                                           0.50%               0.125%
$3 million
Next
                                                           0.40%                0.10%
$5 million
Above $10 million                                          0.30%               0.075%

Our annual portfolio management fee is billed and payable, quarterly in arrears, based on the account
balance at the end of billing period which is the last calendar day of the quarter.

If the portfolio management agreement is executed at any time other than the first day of a calendar
quarter, our fees will apply on a pro rata basis, which means that the advisory fee is payable in
proportion to the number of days in the quarter for which you are a client. Our advisory fee is
negotiable, depending on individual client circumstances such as complexity, scope, level of
administration, and legacy or familial relationships. Unless otherwise specified in the advisory
agreement, our fees will be automatically debited from the client's investment account.

We use a standard industry automated billing system that collects the information reported by the
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Item 7 Types of Clients
The Adviser provides investment advice to individuals, high net worth individuals, participants
of retirement plans, pension and profit-sharing plans, charitable organizations, corporations and other
business entities.

In general, we do not require a minimum dollar amount to open and maintain an advisory account;
however, we have the right to terminate your account if it falls below a minimum size which, in our sole
opinion, is too small to manage effectively.

We charge a minimum fee, depending on the advisory planning or consulting service, which ranges
between $1,000 - $2,000. At our discretion, we can waive the minimum fee. Please see the Fees and
Compensation section for additional details related to the services that are subject to a minimum fee.