Blue Bear Financial LLC

Item 5 – Fees and Compensation

The following paragraphs detail the fee structure and compensation methodology for services provided by the
Advisor. Each Client engaging the Advisor for services described herein shall be required to enter into one or more
written agreements with the Advisor.

A. Fees for Advisory Services
Investment Management Services
Investment advisory fees are paid quarterly, in advance of each calendar quarter pursuant to the terms of the
investment advisory agreement. Investment advisory fees are based on the market value of assets under
management at the end of the prior calendar quarter. Investment management fees range up to 1.65% annually
based on several factors, including: the scope and complexity of the services to be provided; the level of assets to be
managed; and the overall relationship with the Adviser. Relationships with multiple objectives, specific reporting
requirements, portfolio restrictions and other complexities may be charged a higher fee.

The investment advisory fee in the first quarter of service is prorated from the inception date of the account[s] to the
end of the first quarter. Fees may be negotiable at the sole discretion of the Advisor. The Client’s fees will take into
consideration the aggregate assets under management with the Advisor. Some Clients of the Advisor may be subject
to a legacy fee schedule at the sole discretion of the Advisor. All securities held in accounts managed by Blue Bear
will be independently valued by the Custodian. The Advisor will conduct periodic reviews of the Custodian’s
valuation to ensure accurate billing. The investment advisory fee will include the Client’s held-away assets, as
applicable.

The Advisor’s fee is exclusive of, and in addition to any applicable securities transaction and custody fees, and other
related costs and expenses described in Item 5.C below, which may be incurred by the Client. However, the Advisor
shall not receive any portion of these commissions, fees, and costs.

Use of Independent Managers - As noted in Item 4, the Advisor may implement all or a portion of a Client’s
investment portfolio utilizing one or more Independent Managers. To eliminate any conflict of interest, the Advisor
does not earn any compensation from an Independent Manager. The Advisor will only earn its investment advisory
fee as described above. The total blended fee, including the Advisor’s fee and the Independent Manager’s fee, will
not exceed 3.50% annually.

Financial Planning Services
Blue Bear offers financial planning services as part on an ongoing wealth management relationship or on a project
basis. Project-based financial planning engagements are offered either for an hourly rate or a fixed engagement fee.
Hourly fees range up to $500 per hour. Fixed fee engagements are based on the expected number of hours to
complete the engagement at the Advisor’s hourly rate. Ongoing financial planning engagements are generally
charged a fixed fee ranging from $5,000 to $10,000 in the first year and a lower ongoing quarterly fee up to $2,400 in
subsequent years. Fees may be negotiable based on the nature and complexity of the services to be provided and the
overall relationship with the Advisor. An estimate for total hours and/or total costs will be provided to the Client prior to
engaging for these services.

                                                   Blue Bear Financial, LLC
                                            1040 eWall St., Mount Pleasant, SC 29464
                                Phone: (843) 654-1377 | Website: https://www.bluebearfinancial.com

Retirement Plan Advisory Services
Fees for retirement plan advisory services are charged an annual asset-based fee of up to 1.00% and are billed
quarterly, pursuant to the terms of the retirement plan advisory agreement. Fees may be negotiable depending on the
size and complexity of the Plan.

Third-Party Referrals to Non-Affiliated Registered Investment Advisor
Blue Bear is also compensated through a referral fee arrangement with Howard Capital Management pursuant to a
solicitor agreement. The Advisor is only compensated when a Client engages with Howard Capital Management to
share in the revenue generated by the Client’s relationship with Howard Capital Management. The referral fee ranges
up to 0.75% of the Client’s assets under management with Howard Capital Management, and is fully disclosed to each
Client in the Disclosure Statement provided by Blue Bear. Blue Bear is paid monthly in advance or arrears pursuant to
the terms of the solicitor agreement with Howard Capital Management.

The Advisor discloses that the Client may be able to obtain similar services from other services providers for a lower
fee.

B. Fee Billing
Investment Management Services
Investment advisory fees are calculated by the Advisor or its delegate and deducted from the Client’s account[s] at the
Custodian. The Advisor shall send an invoice to the Custodian indicating the amount of the fees to be deducted from
the Client’s account[s] at the beginning of the respective quarter. The amount due is calculated by applying the
quarterly rate (annual rate divided by 4) to the total assets under management with Blue Bear at the end of the prior.
Clients will be provided with a statement, at least quarterly, from the Custodian reflecting deduction of the investment
advisory fee. Clients are urged to also review and compare the statement provided by the Advisor to the brokerage
statement from the Custodian, as the Custodian does not perform a verification of fees. Clients provide written
authorization permitting advisory fees to be deducted by Blue Bear to be paid directly from their account[s] held by the
Custodian as part of the investment advisory agreement and separate account forms provided by the Custodian.

Clients may make additions to and withdrawals from account[s] at any time. However, if at any point, assets in
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Item 7 – Types of Clients

Blue Bear offers investment advisory services to individuals, high net worth individuals, families, trusts, estates,
businesses, family offices, and other institutional clients (each referred to as a “Client”). Blue Bear generally
requires a minimum relationship size of $500,000 to effectively implement its investment management services.
This amount may be waived or reduced at the Advisor’s sole discretion.