Bernardi Asset Management LLC

Item 5 Fees & Compensation
Fees are calculated based upon the market value and accrued interest of the portfolio at the close of a
calendar quarter. For new accounts, or accounts with deposits made during the period, fees will be
prorated. Fees are calculated based upon the market value and accrued interest at the time
management commences. Securities valuations and accrued interest calculations are provided by
independent third-party custodian or independent third-party software provider. Account management
may be terminated by either BAM or client with at least thirty (30) days written notice. Any unearned
fees on terminated accounts will be refunded on a prorated basis.

Client Fee:
First $2 million     0.40%
$2-5 million         0.35%
$5-10 million        0.30%
$10-15 million       0.25%
Above $15 million    0.20%

Asset Allocation Platform
All Assets                   0.40%

Under certain circumstances, fees are negotiable, including but not limited to:
   • Long Term Relationships
   • Large Account Relationships
   • Charitable, Civic and Municipal Organizations
   • Investment Guidelines

Collection
Fees are payable quarterly in advance and are generally deducted from client accounts. Clients can
elect to pay fees from outside funds if they desire. The fee will be computed and billed at the beginning
of each quarter by applying one quarter of the applicable annual rate to the market value and accrued
interest of the portfolio on the last trading day of the preceding quarter.

Other Fees
When BAM effects securities transactions for a client account, BAM passes on the fees charged by its
clearing broker dealer and/or account custodian. Such fees are subject to change. BAM does not
receive any compensation from custodial firm fees and does not select custodians.

Fees: (The fees reflected below reflect charges assessed by Pershing LLC, if account assets are held
at another firm, fees will be different)
Processing fee for bonds:                                $12 per trade
Processing fee for Stock, ETF, or Mutual Fund:           $16 per trade
Retirement Account Custodian Fee:                        $43.50 per year
Wire Transfer Fee:                                       $20 per occurrence
Paper Statement/Confirm Fee:                             $0.75 per occurrence
Money Market Management Fee:                             Varies due to fund selected by client
Paper subscription fee                                   $2.00/month, per account

Paper tax document fee                                 $10.00/year, per account
Additional fees/charges may be assessed by outside custodians and clearing firms.

Payment timing
Fees are paid quarterly in advance; any unearned fees due to termination of management before the
end of a payment cycle will be refunded on a prorated basis.

BAM and your advisor can receive compensation for the sale of securities products through its
affiliated broker dealer. This practice represents a conflict of interest based on compensation received.
Clients are urged to read and consider the contents of this brochure and to inquire about the sources
of compensation and conflicts of interest in making a fair and reasonable assessment of the fee's
clients pay for services rendered.

Clients have the option of purchasing investment products through other brokers or agents.

Sub-Advisory Services for Registered Investment Advisers
BAM's annual sub-advisory fee shall be a flat fee based on overall relationship size and calculated as
follows for any portion of the assets of a sub-advised account managed by the BAM:

Assets            Annual Fee
First $15 million 0.25%
Over $15 million 0.20 %

The fee for sub-advisory services is payable in advance as of the last day of each calendar quarter and
will be pro-rated for partial quarters. All expenses relating to the investment of the assets in each sub-
advised account, including without limitation, brokerage commissions, transfer taxes and other fees
and expenses in the purchase, sale or other disposition of such assets shall be the sole responsibility
of the client owning the sub-advised account and are payable directly from the sub-advised account
unless otherwise directed. If paid directly from the sub-advised account, BAM will deduct the sub-
advisory fee directly from the client's brokerage account after presenting the Primary Investment
Adviser with copies of fee invoices. Certain sub-advised accounts may pay by outside check and
the Primary Investment Adviser will notify the Sub-Advisor if this is the case.

Item 7 Types of Clients
BAM manages portfolios for a variety of clients including Individual investors, other Investment
Advisers, Banking Institutions, Pension & Profit Sharing Plans, Retirement Accounts, Trusts & Estates,
and Corporations and Family Offices.

Minimum Account Size
$250,000

Minimum relationship size is negotiable.