Alpha Financial Management Inc

Item 5 - Fees and Compensation
 All fees will be billed quarterly in advance. If authorized by the client as provided
 in the Limited Power of Attorney portion of the Custodial application, we may
 submit invoices to the Custodian and instruct the Custodian to pay our fees to us
 directly from the Managed Portfolio. If the client has not given such direct
 payment authorization, fees will be payable by the client immediately upon
 receipt of any invoice.

 Alpha will provide the client with quarterly reports detailing the portfolio holdings,
 summarizing purchases, sales, contributions and withdrawals, and performance
 relative to the clients objectives and relevant indices. Alpha also encourages
 regular conferences to review the client’s portfolio performance, investment
 policy guidelines, strategies and constraints.

 The initial fee is predicated upon the facts known at the start of the engagement.
 These facts are determined by asking an extensive list of questions at the
 Discovery Meeting pertaining to Values, Goals, Assets, Relationships, Process,
 Interests, and Advisors. Alpha requests relevant documents regarding the
 financial situation (estate planning documents, brokerage statements, etc.) and
 reviews these documents during this meeting.

Alpha bills one of two ways:

1. Alpha bills clients on assets under management according to the following fee
   schedule:
2.
      a.

             Assets Under Management             Annual Management Fee
                  First $1,000,000                       1.00%
             Next $1,000,000 ($1M-2M)                    0.75%
             Next $1,000,000 ($2M-3M)                    0.50%
             Amounts over $3,000,001                     0.25%

      b.

                           Alpha Financial Management

  3. Alpha bills hourly for comprehensive financial planning advice to military
     families referred by ComPsych which is an Employee Assistance Program of
     the US Armed Services. ComPsych pays Alpha at an hourly rate. Alpha counts
     all hours spent with that client in person, on the phone, and preparing for
     meetings with that client. This billing method is only for ComPsych clients.

     We sometimes offer discounts to clients, depending on their needs, assets,
     and the work involved.

Fee Billing

   Client Advisory Agreement and Investment Management Agreement fees are
   billed quarterly, in ADVANCE meaning that we invoice you BEFORE the three-
   month billing period has BEGUN. Payment in full is expected upon invoice
   presentation. Fees are usually deducted from a designated client account to
   facilitate billing. The client must consent in advance to direct debiting of their
   investment account.

   Billing on Cash Positions: The firm treats cash and cash equivalents as an asset
   class. Accordingly, unless otherwise agreed in writing, all cash and cash
   equivalent positions (e.g., money market funds, etc.) are included as part of
   assets under management for purposes of calculating the firm’s advisory fee. At
   any specific point in time, depending upon perceived or anticipated market
   conditions/events (there being no guarantee that such anticipated market
   conditions/events will occur), the firm may maintain cash and/or cash equivalent
   positions for defensive, liquidity, or other purposes. While assets are maintained
   in cash or cash equivalents, such amounts could miss market advances and,
   depending upon current yields, at any point in time, the firm’s advisory fee could
   exceed the interest paid by the client’s cash or cash equivalent positions.

   Periods of Portfolio Inactivity: The firm has a fiduciary duty to provide services
   consistent with the client’s best interest. As part of its investment advisory
   services, the firm will review client portfolios on an ongoing basis to determine if
   any changes are necessary based upon various factors, including but not limited
   to investment performance, fund manager tenure, style drift, account
   additions/withdrawals, the client’s financial circumstances, and changes in the
   client’s investment objectives. Based upon these and other factors, there may be
   extended periods of time when the firm determines that changes to a client’s
   portfolio are neither necessary nor prudent. Notwithstanding, unless otherwise
   agreed in writing, the firm’s annual investment advisory fee will continue to apply
   during these periods, and there can be no assurance that investment decisions
   made by the firm will be profitable or equal any specific performance level(s).

                             Alpha Financial Management

Refunds of Fees

   If a client relationship is terminated, the client will be refunded all fees paid in
   advance, adjusted for the number of days prior to termination. The portfolio value
   at the completion of the prior full billing period is used as the basis for the fee
   computation for the Client Advisory Agreement and Investment Management
   Agreement, adjusted for the number of days during the billing quarter prior to
   termination.

Other Fees

   Custodians may charge transaction fees on purchases or sales of certain mutual
   funds and exchange-traded funds. These transaction charges are usually small
   and incidental to the purchase or sale of a security. The selection of the security
   is more important than the nominal fee that the custodian charges to buy or sell
   the security.

   Custodians may charge a maintenance fee for holding client accounts.

Expense Ratios

   Mutual funds generally charge a fee for their cost of operating the fund. The fee
   is called an expense ratio. None of that expense ratio is paid to Alpha.

   Performance figures quoted by mutual fund companies in various publications
   are after their fees have been deducted. Alpha chooses mutual funds with low
   expense ratios so clients don’t lose asset value to high mutual fund operation
...

Item 7 - Types of Clients
Description

   Alpha generally provides investment advice to individuals, pension and profit
   sharing plans, trusts, estates, or charitable organizations, corporations or
   business entities.

   Alpha also provides comprehensive financial planning for military families
   referred by ComPsych, which is an Employee Assistance Program of the US
   Armed Services.

   Client relationships vary in scope and length of service.

Account Minimums

   Alpha does not have account minimums. Most clients have assets above
   $500,000 but Alpha does serve some clients who have lower net worth.

                             Alpha Financial Management