Alden Capital Management Inc

Item 5 – Fees and Compensation
Asset Management Services
Our fees for asset management services are negotiable. For certain accounts, we may charge
advisory fees on a share of the capital appreciation of the funds or securities in a client account (so-
called performance-based fees). Our maximum fees are:

   •   Customized Management – Up to 2.00% Annual Fee

We may change our fee schedules 30 days prior to written notice to you. No fee adjustments will be
made for additional deposits, partial withdrawals, account appreciation or depreciation. Fee
adjustments will be made if accounts are added or closed. We aggregate all your managed accounts
together to determine the amount of your quarterly fee. Each of our Investment Advisory
Representatives determines the fees they will charge for their services. As a result, you may be able
to obtain advisory services from other Investment Advisory Representatives at a lower cost. There is
no correlation between the education and business experience of the Investment Advisory
Representative and the fee charged. Depending on your account balance, our fees may be higher
than those of other investment advisers. Similar advisory services may be obtained elsewhere at a
lower cost.
Advisory fees will be charged in arrears each calendar quarter. The quarterly advisory fee will be
based on the value of the managed portfolio on the last business day of the just-completed calendar
quarter. Fees for partial periods will be pro-rated. The initial advisory fees will be calculated based on
the account's value when it is opened.

Fee Payment Options
As indicated in our advisory agreement with you, advisory fees will generally be collected directly
from your account, provided you have given us written authorization to do so. At the inception of
our relationship with you and each quarter thereafter, we will notify your custodian of the amount
of the fee due and payable to us through our fee schedule and contract. The custodian does not
validate or check our fee; it is calculated on the assets on which the fee is based. They will “deduct”
the fee from your Account(s) or, if you have more than one account from the account you have
designated to pay our advisory fees. If your account does not contain sufficient cash to pay advisory
fees, we have limited authority to sell or redeem securities in amounts sufficient to cover the
advisory fees.
Each month, you will receive a statement directly from your custodian showing all transactions,
positions, and credits/debits into or from your account; the statements after the quarter end will
reflect these transactions, including the advisory fee you paid to us. We will also provide you with
periodic reports itemizing the fee, including the formula used to calculate the fee, the time period
covered by the fee, and the amount of assets under management on which the fee was based upon
your request. This information is also available on our custodians’ monthly statements and is
accessible at any time through the custodians’ online systems. If you choose, you may also pay our
advisory fees by check. At the inception of your account and each quarter thereafter, we will issue
you an invoice for our services, and you will pay us by check or wire transfer within 15 days of the
invoice's date.

Cash Raises for Distributions and/or Fee Billing

If insufficient cash is within a client account to process a distribution or generate an advisory
fee, Alden reserves the right to place trades to raise the required money. Investment advisor
representatives may make these trades or outsource them to Alden’s internal trade team. While
Alden will make a best effort to minimize tax implications and any adverse portfolio effects,
there is no guarantee that either of these will occur based on client holdings and the amount
of cash needed.

Additional Fees and Expenses
Advisory fees payable to us do not include all the fees you will pay when we purchase or sell
securities for your account(s). The following list of fees or expenses is what you pay directly to third
parties, whether a security is being purchased, sold, or held in your account(s) under our
management. Fees charged are by the broker-dealer/custodian.
We do not receive any of these fees charged to you directly or indirectly. They are paid to your broker,
custodian, mutual fund, or other investment you hold. The fees include:
   •   Brokerage commissions;
   •   Transaction fees;
   •   Exchange fees;
   •   SEC fees;
   •   Advisory fees and administrative fees charged by Mutual Funds (MF), Exchange Traded
       Funds (ETFs)
   •   All or a portion of advisory fees charged by sub-advisers (if any are used for your account);
   •   Custodial Fees;
   •   Deferred sales charges (on MF or annuities);
   •   Odd-Lot differentials;
   •   Deferred sales charges (charged by MFs);
   •   Transfer taxes;
   •   Wire transfer and electronic fund processing fees;
   •   Commissions or mark-ups / mark-downs on security transactions;
   •   Among others that may be incurred.
Some Investment Advisory Representatives of Alden are registered representatives of J. Alden
Associates, Inc. (“J. Alden”), a registered broker-dealer. Representatives may receive 12b-1 fees or trail
commissions for a period of time due to directing mutual fund transactions in your advisory account
through J. Alden. The receipt of 12b-1 fee creates a conflict of interest and could incentivize
Investment Advisory Representatives to recommend funds with 12b-1 fees over funds that do not
have these or lower fees. We will manage this conflict by regularly reviewing your account to ensure
that all mutual fund recommendations suit you.

Platform Reporting Fee
As of mid-2024, Alden required its firm's representatives to use the Alden COVE platform for
client account reporting. As part of this move, all client agreements disclose a 0.05% (five basis
points) annual reporting fee, billed in monthly increments.

Termination Provisions
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Item 7 – Types of Clients
We provide our services to several types of clients, including individuals, high net-worth individuals,
other financial advisors, pooled investment vehicles, private limited partnership funds and mutual
funds, retirement plans, and non-profit entities. We generally require a minimum account size of
$25,000. However, under certain circumstances, we may waive this minimum. However, please be
aware that account performance may suffer due to the difficulty of diversifying smaller accounts,
trading fees, or other costs charged by custodians representing a higher percentage of the total
account value.