The Fiduciary Group LLC

ITEM 5 – FEES AND COMPENSATION

TFG charges an annual investment management fee that is specified in TFG’s agreement with the client.
TFG’s standard fee schedule is listed below. When TFG is engaged as investment adviser to a trust or
estate where a supervised person of TFG is serving as trustee or executor, TFG charges its investment
management fee on all of the assets of the trust or estate unless otherwise specifically stated in the
investment management agreement with TFG.

Compensation for investment advisory services is payable only after service is provided on a quarterly
basis, or semi-quarterly basis in the case of certain 401(k) plans. No advisory fees are payable in advance.
All accounts are terminable at will at any time and fees are payable only for work performed prior to
termination. Clients receive a statement each quarter, or semi-quarterly in the case of sponsors of certain
401(k) plans, itemizing fees and explaining the calculation. For most clients, fees are deducted
automatically from assets under management after the end of each quarter or semi-quarter,
simultaneous with the issuance of the fee statement.

Investment Management Fee Schedule
The Investment Management services fee for both discretionary and non-discretionary accounts is an
annual rate of 1.00% of the value of the assets designated as subject to TFG’s management (the “account”)
up to $1 million, and a tiered rate for balances over $1 million as provided below, billed on a quarterly
basis. Each account is revalued on the last day of each quarter, and the account is billed for one-quarter
of the total annual fee.

                           The Fiduciary Group Standard Fee Schedule

                                             Tier Rate and Tier End Fees         Cumulative at Tier End

      Tier Begin            Tier End           % Rate         $ Rate             % Rate         $ Rate
                   $0           $1,000,000         1.00%         $10,000             1.00%         $10,000
          $1,000,000            $3,000,000         0.90%         $18,000             0.93%         $28,000
          $3,000,000            $5,000,000         0.70%         $14,000             0.84%         $42,000
          $5,000,000           $10,000,000         0.60%         $30,000             0.72%         $72,000
         $10,000,000           $20,000,000         0.50%         $50,000             0.61%        $122,000
         $20,000,000           $40,000,000         0.40%         $80,000             0.51%        $202,000
         $40,000,000           $60,000,000         0.35%         $70,000             0.45%        $272,000
         $60,000,000           $80,000,000         0.30%         $60,000             0.42%        $332,000
         $80,000,000          $100,000,000         0.25%         $50,000             0.38%        $382,000
        $100,000,000          $120,000,000         0.20%         $40,000             0.35%        $422,000

In certain circumstances, such as concentrated holdings with low cost basis (which will not be traded
frequently), the nature of the particular duties involved with account management, length or nature of
client relationship, or other unique factors, our fees are negotiable. Advisory fees for certain family
members are discounted or, for immediate family, waived.

Bill pay services are available upon request for a fixed fee, starting at $150 per quarter. The quoted
quarterly fee may be higher, depending on the amount of work involved. Depending on the amount of
assets under management and the complexity of personal transactions, the amount of the quarterly fee
for bill pay and other administrative services will be negotiated appropriately. All fees for administrative
and bill pay services will be quoted in writing in advance and approved by the client before the services are
rendered.

In rare instances, due to the particular nature of the work requested by the client in non-managed or non-
discretionary accounts, TFG will perform analyses and offer investment consultation for a fixed fee.

TFG charges fees quarterly in arrears based on the account value including cash, accrued interest, accrued
dividends, and securities purchased on margin at the end of the prior quarter. Most clients authorize TFG
to deduct fees automatically from their brokerage accounts, but clients may request that TFG send
quarterly invoices to be paid by check.

In all accounts, for marketable securities, the prices provided by custodians or, if unavailable, by publicly
available sources, are used for client reporting and fee billing. While TFG makes every effort to obtain
balances directly from the custodian of clients’ assets, for certain accounts with outside brokers or
custodians, TFG may request that the client regularly provide TFG with copies of clients’ account
statements. In some instances, precise account balances are unavailable to TFG on a timely basis. TFG’s
billing in those situations is therefore based on the most current information available to TFG when fees
are calculated. TFG does not independently value any private securities held in client accounts. The
financial information provided on a regular reporting basis by the issuer of private securities will be used
as the basis for client reporting and billing. This valuation is determined independently of TFG.

In addition to our fees, clients are responsible for fees, expenses and charges imposed by third parties in
connection with the investment and maintenance of their assets. These fees, expenses and charges could
potentially include brokerage commissions or securities transaction fees and other expenses and charges
imposed by the client’s custodian and/or broker-dealer, or custodial fees. Investment companies (mutual
funds, ETFs, and private investment funds) in which a client’s assets may be invested, and external
managers of separately managed accounts, charge additional management fees and other expenses as
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ITEM 7 – TYPES OF CLIENTS

TFG primarily provides wealth management services to individuals, high-net-worth individuals and
families, and discretionary investment management services to trusts, estates, pension and profit-sharing
plans, nonprofit organizations, and other legal entities. These accounts are managed as separately
managed accounts. TFG also serves as a fiduciary investment advisor under ERISA Section 3(38) to
participant-directed 401(k) plans. Where requested, the principals of TFG serve in their individual capacity
as trustee, executor, and/or power of attorney.

Unless otherwise agreed, TFG’s minimum entry asset size for separate account management is $500,000.
For 401(k) plans, unless otherwise agreed, the minimum entry asset level is $1,000,000.