A J Feldman Financial LLC

Item 5 - Fees and Compensation

A. and B. Fees and Payment of Fees

Investment Supervisory Services Fee

Fees for Investment Supervisory Services are negotiable and calculated as a percentage of the total value of
investments under AJFF's management at the rates set forth in the Fee Schedule below. In addition to this
advisory fee, there may, depending upon the type of security, be transactional and commissions charged by
the account’s custodian. Administrative and servicing fees will also be charged.

                                        Schedule of Fees

 Value of Assets Under Management                         Annual Fee

  $0 to $100,000                                          1.5%
  $100,001 to $500,000                                    1.25%
  $500,001 to $1,000,000                                  1.00%
  $1,000,001 to $5,000,000                                0.90%
  Over $5,000,000                                         Negotiable
AJFF, in its sole discretion, may negotiate fees based upon certain criteria (i.e., anticipated future earning
capacity, anticipated future additional assets, dollar amount of assets to be managed, related accounts,
account composition, negotiations with client, etc.).

Advisory fees are payable quarterly in advance and are calculated on the basis of the market value of the
investment in the account as of the last business day of the previous quarter, including any balances held in
money market funds and/or cash. The fee for the initial quarter is pro-rated for the period that services are
provided. The account balances of related accounts may, at AJFF’s discretion, be combined for fee
calculation purposes. Upon termination of the Agreement, any pre-paid advisory fees will be prorated from
the date of termination through the end of the current billing period and any unearned fee will be returned to
the client. The Agreement may be terminated by written notice from either party to the other.

AJFF may amend its fee schedule upon thirty (30) days advance written notice to the client.

The fees paid to AJFF are for AJFF's advisory services only. Commissions and other account fees may be
charged in accordance with the account’s brokerage firm’s normal commission schedule.

Fees payable to AJFF for Investment Supervisory Services, with the client’s prior permission, are
automatically deducted from the client's account when due. The client will receive an invoice from AJFF, as
well as statements from the account's custodian, showing the fee calculation and the fee amount debited from
the account(s).

AJFF will liquidate money market shares to pay the fee and, if money market shares or cash value are not
available, other investments will be liquidated. The client’s authorization for the deduction of fees from the
managed account is contained in the Services Agreement. The client may terminate the authorization
for automatic deduction at any time by notifying AJFF in writing.

Financial Planning Services Fee

Fees charged for Financial Planning Services are negotiable and are charged on an hourly basis. AJFF’s
current hourly rate is $300. If a client engages AJFF for Investment Supervisory Services within six months
from the conclusion of a financial planning engagement, any fee paid under a Financial Planning Agreement
will be credited towards the client’s investment supervisory fee.

In general, the time allotted for any financial planning assignment will fall within the range of 10 to 30 hours.
The number of hours devoted to a plan is based upon the complexity of the plan. Factors that determine the
complexity of a plan include: 1) situations where there are considerable assets to evaluate; 2) multiple issues
to address; 3) unusual and varying objectives; 4) multigenerational considerations; 5) multiple objectives; 6)
multiple investment entities within one client, and 7) varying degrees of risk analysis. The total amount of
the fees paid will be dependent upon the number of hours employed in developing the plan.

The fee is payable directly by a client and not deducted from the client’s account. Payment arrangements
are established in the Services Agreement. Each client retains the right to terminate the Services Agreement
with AJFF at any time, in writing and without prior notice, for any reason. AJFF retains the right to terminate
any engagement at any time, for any reason. At termination, any pre-paid fee remaining unearned based
on the work completed in AJFF’s discretion is returned to the client, and any fee earned and not paid is due
promptly.

Fees do not include product transaction commissions, or the fees for third-party professional services, e.g.,
investment managers, attorneys, accountants or other third parties to implement AJFF’s financial planning
recommendations.

C. Additional Fees

Fees paid to AJFF are for AJFF advisory services only. The fees do not include, for example, the fees charged
by accountants and attorneys assisting with providing the client with accounting and legal advice.
Commissions on transactions and other account fees will also be charged by brokerage firms in accordance
with the account’s brokerage firm’s normal commission schedule. AJFF receives no portion of these
commissions or account fees. See Item 12, Brokerage Practices for more information about transaction-
related fees. Customary commissions on insurance are also not included.

Prospective clients should be aware that in addition to AJFF's advisory fees, each mutual fund and exchange-
traded fund in which a client's assets are invested also pays its own advisory fees and other internal expenses
which already have been deducted from the fund's reported performance. Depending on the fund, a client
may be able to invest directly in the shares issued by the fund with or without incurring any sales or third-
party management fees. Account maintenance fees are also deducted by the custodian.
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Item 7 - Types of Clients/Minimum Account Size

AJFF makes Investment Supervisory and Financial Planning and Consulting Services available to a wide
variety of clients including. but not limited to individuals, pension and profit-sharing plans, trusts, estates,
charitable organizations, corporations and other business entities.

AJFF requires a $100,000 minimum account size for Investment Supervisory Services; however, in its sole
discretion, AJFF may waive or lower the minimum account size. There is no minimum account size for
Financial Planning Services.