Bowen Hanes & Co Inc

Item 5 - Fees and Compensation

                                                                              Form ADV Part 2A, Item 5

A. Bowen, Hanes & Company charges an investment management fee
   computed as a percentage of the market value of assets in the account.
   Our current fee schedule is calculated as follows (per annum):

         1.00% on initial $2 million
         0.60% on next $3 million
         0.50% on next $5 million
         0.40% on next $15 million
         0.30% on assets greater than $25 million

   We generally adhere to this schedule of fees; however, at our sole discretion,
   we may agree to negotiate a different fee schedule.

B. Clients may, but are not required, to grant Bowen, Hanes & Company the
   authority to debit advisory fees directly from the clients’ accounts. If the
   client authorizes Bowen, Hanes & Company to debit fees, we are deemed to
   have custody of the client’s funds. Clients will receive a statement, usually
   monthly, but no less than quarterly, directly from their account custodian.
   Bowen, Hanes & Company urges clients to review the information on the
   statement for accuracy and compare the information to any reports
   received directly from Bowen, Hanes & Company. Please refer to Item 15 of
   this document for additional disclosures relating to Custody.

C. Bowen, Hanes & Company is not a custodian and is not affiliated with any
   custodian banks or brokerage firms. Client is responsible for payment of all
   third party fees (e.g., brokerage commissions, money market mutual fund
   fees, custodian fees, etc.) Clients will incur some of these fees in connection
   with our management of the assets. Please refer to Item 12 for an overview
   of brokerage services.

D. Clients are normally billed in advance on a quarterly basis. If a client closes
   an account, collected fees are prorated and refunded to client within 30
   days.

E. Neither the firm nor any of its supervised persons receive any outside
   compensation for the sale of securities or other investment products.

                                                      ©2010 National Compliance Services 800-800-3204

Item 7 - Types of Clients

                                                                               Form ADV Part 2A, Item 7

We provide investment counseling services to high net worth individuals, pension
and profit sharing plans (municipal and corporate), charities, endowments,
trusts, and foundations.

The minimum desired account is $3 million; however, each client will be
evaluated on an individual basis, and the minimum is not an absolute
requirement.

                                                       ©2010 National Compliance Services 800-800-3204