Clearwave Capital LLC

Item 5: Fees & Compensation

Compensation for Our Advisory Services

Comprehensive Portfolio Management:

The maximum annual fee charged for this service will not exceed 2.00%. Fees to be assessed will be
outlined in the advisory agreement to be signed by the Client. Our firm bills on cash unless indicated
otherwise in writing. Annualized fees are billed on a pro-rata basis quarterly in advance based on the
value of the account(s) on the last day of the previous quarter. Fees are negotiable and will be
deducted from client account(s). In rare cases, our firm will agree to directly invoice. As part of this
process, Clients understand the following:

    a) The client’s independent custodian sends statements at least quarterly showing the market
       values for each security included in the Assets and all account disbursements, including the
       amount of the advisory fees paid to our firm;
    b) Clients will provide authorization permitting our firm to be directly paid by these terms. Our
       firm will send an invoice directly to the custodian; and
    c) If our firm sends a copy of our invoice to the client, a legend urging the comparison of
       information provided in our statement with those from the qualified custodian will be
       included.

For the sub-advisory services rendered to our clients, our firm compensates third-party investment
advisory firms or individual advisors a percentage of the overall investment advisory fee charged by
our firm. The advisory fee paid ranges from 0.10 to 1.00%, and shall not exceed the fee published for
this service.

ADV Part 2A – Firm Brochure                    Page 7                                 Clearwave Capital, LLC

Asset Management:

The maximum annual fee charged for this service will not exceed 2.00%. Fees to be assessed will be
outlined in the advisory agreement to be signed by the Client. Our firm bills on cash unless indicated
otherwise in writing. Annualized fees are billed on a pro-rata basis quarterly in advance based on the
value of the account(s) on the last day of the previous quarter. Fees are negotiable and will be
deducted from client account(s). In rare cases, our firm will agree to directly invoice. As part of this
process, Clients understand the following:

    a) The client’s independent custodian sends statements at least quarterly showing the market
       values for each security included in the Assets and all account disbursements, including the
       amount of the advisory fees paid to our firm;
    b) Clients will provide authorization permitting our firm to be directly paid by these terms. Our
       firm will send an invoice directly to the custodian; and
    c) If our firm sends a copy of our invoice to the client, a legend urging the comparison of
       information provided in our statement with those from the qualified custodian will be
       included.

For the sub-advisory services rendered to our clients, our firm compensates third-party investment
advisory firms or individual advisors a percentage of the overall investment advisory fee charged by
our firm. The advisory fee paid ranges from 0.10 to 1.00%, and shall not exceed the fee published for
this service.

Financial Planning & Consulting:

Our firm charges on a flat fee basis for financial planning and consulting services. The total estimated
fee, as well as the ultimate fee charged, is based on the scope and complexity of our engagement with
the client. Flat fees will not exceed $30,000. The fee-paying arrangements will be determined on a
case-by-case basis and will be detailed in the signed consulting agreement. Our firm will not require
a retainer exceeding $1,200 when services cannot be rendered within 6 months.

Retirement Plan Consulting:

Our Retirement Plan Consulting services are billed on a flat fee basis or a fee based on the percentage
of Plan assets under management. The total estimated fee, as well as the ultimate fee charged, is based
on the scope and complexity of our engagement with the client. Flat fees will not exceed $50,000.
Fees based on a percentage of managed Plan assets will not exceed 1.00%. The fee-paying
arrangements will be determined on a case-by-case basis and will be detailed in the signed consulting
agreement.

American Funds Distributors, Inc. F-2 Share Directly Held Funds

The advisory fee charged for these accounts may range between 0.25% and 1.00% flat rate annually.
These fees are calculated and debited by American Funds quarterly in arrears based on an average
daily balance of the account(s). The fee for these accounts are non-negotiable. The accounts are
subject to a $10 setup fee and a $10 annual fee, but not subject to any additional trading related fees
through the American Funds platform. The client must acknowledge and agree to allow American
Funds to liquidate shares of the funds held in order to cover any applicable advisory or account
service fees.

ADV Part 2A – Firm Brochure                    Page 8                                 Clearwave Capital, LLC

Other Types of Fees & Expenses

Clients may incur transaction fees for trades executed by their chosen custodian, either based on a
percentage of the dollar amount of assets in the account(s) or via individual transaction charges.
These transaction fees are separate from our firm’s advisory fees and will be disclosed by the chosen
custodian. Fidelity Brokerage Services (“Fidelity”) eliminated transaction fees for U.S. listed equities
and exchange traded funds for clients who opt into electronic delivery of statements or maintain at
least $1 million in assets at Fidelity. Clients who do not meet either criteria will be subject to
transaction fees charged by Fidelity for U.S. listed equities and exchange traded funds.

Client accounts managed through American Funds are invested in mutual fund share classes that do
not have an up-front or contingent deferred sales charge. Class F-2 shares do not carry a 12b-1
“trailing commission”.
...

Item 7: Types of Clients & Account Requirements

Our firm has the following types of clients:
   • Individuals and High Net Worth Individuals;
   • Trusts, Estates or Charitable Organizations;
   • Pension and Profit Sharing Plans, and Defined Contribution & Defined Benefit Retirement
        Plans; and
   • Corporations, Limited Liability Companies and/or Other Business Types

Our firm does not impose requirements for opening and maintaining accounts or otherwise engaging
us.

However, clients who opt into electronic delivery of statements or maintain at least $1 million in
assets at Fidelity will not be charged transaction fees for U.S. listed equities and exchange traded
funds.