Tamar Securities LLC

Item 5. Fees and Compensation

1. Portfolio Management:
Our annual portfolio management fee is billed and payable, quarterly in advance, based on the
account balance at the end of the previous quarter. Below are the fee schedules for our portfolio
management. 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. In our sole
discretion and depending on the Client’s circumstances including the Client’s employment, we will
negotiate our advisory fee. No increase in the annual fee would be effective without the Client's
prior written consent.

In the event that you wish to terminate our services, you will need to contact us in writing and state that
you wish to terminate our services. Upon receipt of a client’s notice of termination, our firm will refund
the unearned portion of our advisory fee to you.

Fee schedule is as follows:

1) Market Value Securities (“MVS®”)

All Equity discretionary money managed programs which include Market Value Securities (MVS®) will
adhere to the following pricing schedule:

                Assets Under Management                     Annual Net Fee Assessed
                        First $500,000                              2.25%
                       Over $500,000                                1.75%
                      Over $1,000,000                               1.25%

2) Growth Market Value Securities (GMVS®)

All Equity discretionary money managed programs which include Growth Market Value Securities
(GMVS®) will adhere to the following pricing schedule:

                Assets Under Management                     Annual Net Fee Assessed
                        First $500,000                              2.25%
                       Over $500,000                                1.75%
                      Over $1,000,000                               1.25%

ADV Part 2A – Firm Brochure                        Page 6                                    Tamar Securities, LLC

3) Total Asset Fund (“TAF®”)

All Equity discretionary money managed programs which include Total Asset Fund (TAF®) will adhere to
the following pricing schedule:

              Assets Under Management             Annual Net Fee Assessed
                      First $500,000                      2.25%
                      Over $500,000                       1.75%
                     Over $1,000,000                      1.25%

4) Market Value Securities (MVS®) or Growth Market Value Securities (GMVS®) (TAF®) Hybrid

All Equity discretionary money managed programs which include (MVS®) (GMVS®) (TAF®) Hybrid will
adhere to the following pricing schedule:

              Assets Under Management             Annual Net Fee Assessed
                      First $500,000                      2.25%
                      Over $500,000                       1.75%
                     Over $1,000,000                      1.25%

5) Total Asset Market (“TAM®”)

All Equity discretionary money managed programs which include Total Asset Market (TAM®) will adhere
to the following pricing schedule:

           Assets Under Management            Annual Net Fee Assessed
                  First $500,000                       2.25%
                  Over $500,000                        1.75%
                 Over $1,000,000                       1.25%

ADV Part 2A – Firm Brochure                  Page 7                                 Tamar Securities, LLC

6) Total Asset Value (“TAV®”) (ua) Ultra Aggressive, TAV (a) Aggressive and TAV (ma) Moderately
   Aggressive

All Equity discretionary money managed programs which include Total Asset Value (TAV®) subcategories;
(TAV®) (ua) Ultra Aggressive, (TAV®) (a) Aggressive and (TAV®) (ma) Moderately Aggressive, will
adhere to the following pricing schedule:

          Assets Under Management                Annual Net Fee Assessed
                  First $500,000                          2.25%
                  Over $500,000                           1.75%
                Over $1,000,000                           1.25%

7) Fixed Income Portfolios (FIP®)

All discretionary Fixed Income Portfolios (FIP®) will adhere to the following pricing schedule:

              Assets Under Management                Annual Net Fee Assessed

                      First $500,000                         0.75%
                      Over $500,000                          0.65%

                    Over $1,000,000                          0.55%

8) (TAV®) (a) Aggressive (FIP®)

All Equity and Fixed Income discretionary money managed programs which include (TAV®) (a) Aggressive
(FIP®) will adhere to the following pricing schedule:

          Assets Under Management                Annual Net Fee Assessed
                  First $500,000                          1.80%
                  Over $500,000                           1.42%
                Over $1,000,000                           1.04%

ADV Part 2A – Firm Brochure                     Page 8                                   Tamar Securities, LLC

9) (TAV®) (ma) Moderately Aggressive (FIP®)

All Equity and Fixed Income discretionary money managed programs which include (TAV®) (ma)
Moderately Aggressive (FIP®) will adhere to the following pricing schedule:

          Assets Under Management                 Annual Net Fee Assessed
                  First $500,000                          1.65%
                  Over $500,000                           1.31%
                Over $1,000,000                           0.97%

10) (TAV®) (FIP®) International

All Fixed Income and Equity discretionary money managed programs, which include (TAV®) (FIP®)
International will adhere to the following pricing schedule:

          Assets Under Management                 Annual Net Fee Assessed
...

Item 7. Types of Clients

We have the following types of clients:
   •  Individuals;
   •  High Net Worth Individuals;
   •  Charitable Organizations;
   •  Pension and Profit Sharing Plans; and
   •  Corporations or other business types.