Bellingham Capital Management Inc

Item 5 – Fees and Compensation

The following paragraphs detail the fee structure and compensation methodology for our services. Each Client
shall sign an Investment Advisory Agreement that details the responsibilities of BCM and the Client.

A. Fees for Discretionary Investment Advisory Services
Investment Advisory Fees for a household portfolio under management by the Advisor are paid monthly in
arrears pursuant to the terms of the Agreement. Investment Advisory Fees in the first month of service are
prorated from the date of the first deposit into the account to the end of the first month.

Fees are based on the market value of household portfolio assets under management on the last business day of
each calendar month. A “household portfolio” is the set of accounts controlled by the Client or Co-Client(s).

                Bellingham Capital Fee Schedule for Discretionary Investment Advisory Services
                     Household Portfolio Assets Under Management                        Annual Rate
     First $100,000.00 of household portfolio                                       1.50%
     Next $150,000.00 ($100,000.01 to $250,000.00)                                  1.25%
     Next $750,000 ($250,000.00 to $1,000,000.00)                                   1.00%
     Above $1,000,000.00                                                            0.75%

All securities held in accounts managed by BCM will be independently valued by the designated Custodian. BCM
will not have the authority or responsibility to value portfolio securities. Fees are negotiable and may be modified,
reduced, or waived at the sole discretion of BCM. Lower fees for comparable services may or may not be available
from other sources.

Fee structures for 401k plans will be determined by the service requirements of the plan. Fees may be composed
of one or more of the following: one-time setup fee, administration and management fees, employee participation
fees of up to 1.5% of account balances (annualized), and/or fees of $275 per hour.

Financial Planning and Consulting Fees
BCM offers financial planning and consulting on an hourly basis at $275 per hour and will be billed in quarter-
hour increments. Fees may be negotiable depending on the nature and complexity of each Client’s circumstances.
An estimate for total project hours will be determined prior to starting each project.

The Advisor’s fee is exclusive of, and in addition to brokerage fees, transaction fees, and other related costs and
expenses, which may be incurred by the Client. However, the Advisor shall not receive any portion of these
commissions, fees, and costs. The hourly fees are determined after considering many factors, such as the level and
scope of the services.

B. Fee Billing
Discretionary Investment Advisory Services
Fees may be paid via check from the client or by automatic deduction from the Client Account by the Custodian.
In some cases, Clients may choose the account that fees will be deducted from. Clients provide written
authorization permitting BCM to be paid directly from their accounts held by the Custodian as part of the
Investment Advisory Agreement and separate account forms provided by the Custodian. The amount due is
calculated by applying the monthly rate (annual rate divided by 12) to the total billable assets under management
with BCM at the end of each month. In cases of automatic deduction, BCM will send an invoice to the Custodian
indicating the amount of the fees to be deducted from the Client Account at the respective month end date. Clients
will be provided with a monthly statement from the Custodian reflecting deduction of the Investment Advisory
Fee. In all instances, the Advisor will send, or cause to be sent, the Client a written invoice. The Advisor will
include the name of the custodian(s) on the fee invoice. The Advisor will send these to the client concurrent with
the request for payment or payment of the Advisor’s advisory fees. We urge the Client to compare this information
with the fees listed in the account statement.
Bellingham Capital Management, Inc.
316 E McLeod Rd, Ste. 105 * Bellingham, WA 98226
Phone: (360) 685-4240

Financial Planning and Consulting Services
Financial Planning and Consulting fees are invoiced by the Advisor. Financial Planning and Consulting fees may
be paid via check by the client or – in some cases - by deduction from the Client Account by the Custodian. In all
instances, the investment adviser will send the client a written invoice, including the fee, a description of the
services, the formula used to calculate the fee, the time period covered by the fee, and, if applicable, the amount of
assets under management on which the fee was based. The investment advisor will send these to the client
concurrent with the request for payment or payment of the adviser’s fees. We urge the Client to compare this
information with the fees listed in the monthly statement from the custodian.

C. Other Fees and Expenses
Clients may incur certain fees or charges imposed by third-parties other than BCM in connection with investments
made on behalf of the Client’s account[s]. The Client is responsible for all custodial and securities execution fees
charged by the custodian and executing broker-dealer. BCM will not receive any portion of these commissions,
fees, and costs.

In addition, all fees paid to BCM for investment advisory services are separate and distinct from the expenses
charged by mutual funds and exchange-traded funds to their shareholders, if applicable. These fees and expenses
are described in each fund’s prospectus. These fees and expenses will generally be used to pay management fees
for the funds, other fund expenses, account administration (e.g., custody, brokerage and account reporting), and
a possible distribution fee. A Client may or may not be able to invest in these products directly, without the
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Item 7 – Types of Clients

BCM offers investment advisory services to the following types of Clients:

    •   Individuals, Personal Trusts and Estates – private investors, investing their personal assets
    •   Foundations and Endowments – non-profit organizations that manage a pool of assets, and distribute
        funds according to a mandate or mission
    •   Charitable, Non-Profit Organizations – mission-based, non-profit organizations
    •   Corporations and Businesses – taxable business entities
    •   Corporations and Businesses – retirement plans

The relative percentage each type of Client is available on BCM’s Form ADV Part 1. These percentages will change
over time. BCM may apply minimum account balances or may decline to accept new clients when necessary to
maintain service levels to existing clients.