The Simmons Partnership Inc

Item 5:       Fees and Compensation

      A. Fees Charged

      All clients will be required to execute a written agreement that will describe the type of services to be
      provided and the fees to be paid, among other items.

      Financial Planning

      Financial planning fees can be hourly, fixed fee basis, or included with asset management services. Our

hourly charge is $350 per hour. Generally, fixed fees will be between $1,000 and $5,000. The fee range
stated is a guide. Fees may be higher or lower than this range, based on the nature of the engagement. Fees
are negotiable and will depend on the anticipated complexity of your plan.

Asset Management

Currently, fees vary from zero to 1.85% per annum of the gross market value of a client’s assets managed by
TSP. The fee range stated is a guide. Fees are negotiable, and it is possible that a new client may pay a fee
higher than the range given. Factors affecting fee percentages include the size of the account, complexity of
asset structures, and other factors. All clients, but especially those with smaller accounts, should be advised
they may receive similar services from other professionals for higher or lower overall costs.

TSP does not typically recommend that clients trade on margin or otherwise attempt to increase performance
through leverage. However, to the extent a client does trade on margin, the value used to determine the
amount of fees payable to TSP is the gross value as of the last market day of the previous quarter. This
presents a conflict of interest, as TSP will have an incentive to recommend margin, as trading on margin has
the potential to increase, even temporarily, the value of the assets which in turn increases the amount of fees
due to TSP. As stated above, margin is not typically recommended, as the risks are significant. Please see
Item 8 for a discussion of risk factors, including trading on margin.

B. Fee Payment

Fees for financial planning will be billed to each client upon completion of the financial plan. The Simmons
Partnership does not generally require a deposit prior to beginning a financial plan but may do so for larger
projects. If the client terminates the Financial Planning Agreement prior to the completion of the plan, any
unearned fees will be return to the client.

Investment advisory fees will be deducted directly from each client’s account. The advisory fee is paid
quarterly, in advance, and the value used for the fee calculation is the gross value of the client’s account as
of last market day of the previous quarter. In limited circumstances, billing may be done in arrears and
invoiced directly to the client. In either case, TSP will divide the investment advisory fee percentage by four to
determine the exact percentage to be used to apply to the value on the last day of the previous quarter as referenced
above. The value used to calculate TSP’s fee will include any allocation to cash or cash-like instruments,
such as money market funds or accounts, of the client’s investable assets. Investable cash means cash that is
in client account as an asset allocation. Cash that is not in investable cash is cash that has been identified by
the client as designated for a specific purpose. Once the calculation is made, we will instruct your account
custodian to deduct the fee from your account and remit it to TSP.

Clients whose fees are directly debited will provide written authorization to debit advisory fees from their
accounts held by a qualified custodian chosen by the client. Fees are not independently verified by the
custodian. The client will also receive a statement from their account custodian showing all transactions in
their account, including the fee.

C. Other Fees

There are a number of other fees that can be associated with holding and investing in securities. TSP may
cover the costs of many of these fees and charges as part of its management fees. Examples of these fees
include transaction fees for the purchase or sale of a mutual fund or Exchange Traded Fund, or commissions
for the purchase or sale of a stock. Expenses of a fund will not be included in management fees, as they are
deducted from the value of the shares by the mutual fund manager. For complete discussion of expenses
related to each mutual fund or ETF, you should read a copy of the prospectus issued by that fund. TSP can

      provide or direct you to a copy of the prospectus for any fund that we recommend to you.

      Please make sure to read Item 12 of this informational brochure, where we discuss broker-dealer and custodial
      issues.

      D. Pro-rata Fees

      Financial Planning: Clients are free to terminate financial planning services. If a client terminates the
      Financial Planning Agreement, any unearned fees will be returned to the client.

      Asset Management: If you become a client mid-quarter, you will pay a pro-rated management fee for the
      number of days left in that quarter. You may terminate the asset management agreement by providing written
      notice to TSP. If you terminate our relationship during a quarter, you will be charged a management fee for
      that portion of the quarter during which you were a client. Once your notice of termination is received, we
      will charge the fee through the date of transfer of your assets. For example, if you terminate your agreement
      and there are 45 days left in that quarter, half of the management fee that was deducted from your account
      for that quarter will be returned to you, either by returning it to your account before your assets move to
      another advisor, or by sending you a check from the firm.

      TSP will cease to perform services, including processing trades and distributions, upon termination. Assets
      not transferred from terminated accounts within 30 (thirty) days of termination may be “de-linked”, meaning
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Item 7:       Types of Clients.

      Clients advised may include individuals, trusts, foundations, pensions and corporations. TSP requires each
      client seeking investment management services to place at least $250,000 with us. We may waive this
      account minimum under certain circumstances, in our discretion.