CALE Financial Management Inc

ITEM 5: FEES AND COMPENSATION

Asset Management
Our standard fee for Direct and Indirect Asset Management is:

        Aggregate Assets under Direct Management                     Annual Fee
        Accounts under $1 million                                    1.25%
        Accounts greater than $1 million and less than $4 million    1.00%
        Accounts greater than $4 million                             1.00% on assets up to $4 million;
                                                                     0.65% on assets over $4 million;

        Aggregate Assets under Indirect Management                    Annual Fee
        Accounts under $1 million to greater than $4 million          0.50%

Our standard fee for Family Office Direct and Indirect Asset Management is:

        Aggregate Assets under Management                            Annual Fee
        Direct Asset Management ($10 million minimum)                0.65%
        Indirect Asset Management ($10 million minimum)              0.35%

The above fees are billed quarterly in advance, based on the value of the account as of the last day of the
previous calendar quarter. Fees, in certain cases, are negotiable and may be adjusted based on investment
asset class, portfolio value, and scope and complexity of engagement, etc.

Investment Consulting
Fees for investment consulting are generally 0.50% per year of the assets under management. These fees
are billed quarterly in advance, based on the value of the account as of the last day of the previous
calendar quarter.

General Disclosures
We generally request that you provide authorization for us to deduct our fees directly from your
investment account. Important information about the deduction of management fees:

    ·   You must provide authorization for us to deduct fees by initialing the appropriate section of our
        contract.

    ·   You will receive a statement from your custodian which shows all transactions in your account,
        including the deduction of our fees.

    ·   You are responsible for reviewing the accuracy of the fees being billed, as the custodian will not
        do so.

You may elect to pay by check rather than having payment deducted directly from your account.

You may end our advisory relationship by providing written notice. We will prorate the advisory fees
earned through the termination date and send you a refund of the prepaid, unearned portion of your fee.

We process refund payments within 30 days of the termination date and will send you a check or refund
your investment account.

We believe the fees mentioned above are competitive; however you may be able to obtain similar services
from other sources at a lower price.

Other Costs Involved
In addition to our advisory fee shown above, you are responsible for paying fees associated with investing
for your account. These fees include:

    ·   management fees for ETFs and mutual funds. These are fees charged by the managers of the ETF
        or mutual fund and are a portion of the expenses of the ETF or mutual fund.

    ·   brokerage costs and transaction fees for any securities or fixed income trades. These are
        generally charged by your custodian and/or executing broker.

Additional information about brokerage costs and services is provided in “Item 12: Brokerage Practices.”

ITEM 7: TYPES OF CLIENTS
Our clients are typically individuals and 401(k) retirement accounts. Generally we require that clients
maintain a minimum of $1,000,000 under management with us. However, we may waive this minimum
at our sole discretion.