Tiller Partners LLC

Item 5 – Fees and Compensation

Upon entering into a discretionary investment management agreement, Tiller will provide advisory
services for a management fee and a performance fee.

Management Fee
The management fee is expressed as a fixed fee per annum, and is paid quarterly in arrears. Management
fees do not fluctuate based upon changes in valuation of Venture Investments held in client accounts.
Management fees may be negotiable, and in certain circumstances may be waived. Not all clients are
charged a management fee.

Additions, Withdrawals, and Terminations
If a new client relationship is established during a quarter or a client makes an addition to its account
during a quarter, the management fee will be prorated for the number of remaining days.

Clients may withdraw all or any part of their liquid assets from their account on the last business day of
any month, provided that Tiller receives a minimum of thirty (30) calendar day’s prior written notice.
If an investment management relationship is terminated during a quarter, the fee payable to Tiller will be
calculated on a pro rata basis through the termination date.

Performance Fee
Tiller also receives a performance-based fee or incentive fee. The performance-based fee is only
assessed upon a profitable sale or exit on each Venture Investment. The compensation paid to the Firm
on a successful exit or sale is approximately 17.50% and subject to a hurdle rate, as specified in the
investment management agreement. Under certain circumstances the performance-based fee may be
negotiable.

Payment of Management Fees
Clients are invoiced or billed directly for management fees, following the end of each quarter. As stated,
management fees are fixed, and negotiated when entering into the investment management agreement.

Payment of Performance Fees
Performance-based fees are only payable on the successful sale or exit on each individual Venture
Investment. One-hundred percent (100%) of the performance fee is payable within 30 days of the
liquidation of the asset and settlement of proceeds in the client’s account held at the custodian.

Other Fees and Expenses
In addition to management fees and performance-based fees, client accounts will generally be subject to
other fees and expenses such as custodial fees, account related costs; interest expenses; taxes, duties and
other governmental charges; transfer and registration fees or similar expenses; costs associated with
foreign exchange transactions; other portfolio expenses; and costs, expenses and fees associated with
products or services that may be necessary or incidental to such investments or accounts. Tiller will not
receive any portion of these other fees and expenses.

Item 7 – Types of Clients

The Firm’s clients consist of high net worth individuals, trusts, family offices and other business entities.