CLIO Asset Management LLC

Item 5: Fees and Compensation
  Method of Compensation and Fee Schedule
  ASSET MANAGEMENT
  Clio provides discretionary asset management services to advisory clients through (1) standard
  portfolio management services and (2) the Clio Core Portfolio Strategy. Clio charges an annual
  investment advisory fee based on assets under management, as described in each Client’s
  Investment Advisory Agreement.
 Clio provides a long-term fee schedule under which the standard advisory fee is reduced by 0.05%
 beginning in year 4 of the client relationship, with a maximum cumulative reduction of 0.25%
 beginning in year 8 and thereafter.
           Year of Client Relationship             Annual Advisory Fee
           Years 0–3                               1.25%
           Year 4                                  1.20%
           Year 5                                  1.15%
           Year 6                                  1.10%
           Year 7                                  1.05%
           Year 8 and beyond                       1.00%
 For example, a client with $1,000,000 under management and a 1.25% annual advisory fee would
 pay $12,500 annually. Beginning in year 4, the fee would decline by 0.05% per year until reaching
 1.00% in year 8 and beyond, resulting in an annual fee of $10,000 at that level.

 Fees may be negotiable based on factors including, but not limited to, client relationship history,
 asset level, anticipated future assets, account complexity, related accounts, and overall
 engagement with Clio.
 Clients may terminate their advisory agreement within five (5) business days of execution without
 penalty. Thereafter, clients may terminate advisory services upon ten (10) days’ written notice.
 Upon termination, any unearned prepaid fees will be prorated and refunded, and any earned but
 unpaid fees will be due based on the number of days services were provided during the billing
 period. Clients will receive thirty (30) days’ prior written notice of any fee increase.
 Client Payment of Fees
 Investment management and performance fees are billed quarterly in arrears. Fees are usually
 deducted from a designated Client account to facilitate billing. The Client must consent in advance
 to direct debiting of their investment account.
 Clio, in its sole discretion, may charge a lesser investment advisory fee based upon certain criteria
 (e.g., historical relationship, type of assets, anticipated future earning capacity, anticipated future
 additional assets, dollar amounts of assets to be managed, related accounts, account composition,
 negotiations with Clients, etc.).
 Additional Client Fees Charged
 In addition to the fees charged by Clio, custodians may charge transaction fees on purchases or
 sales of certain mutual funds, equities, and exchange-traded funds. These charges may include
 mutual fund transaction fees, postage and handling and miscellaneous fees.
 For more details on the brokerage practices, see Item 12 of this brochure.
 Prepayment of Client Fees
 Clio does not require or accept any prepayment of fees. Clio has no formal refund policy because
 advisory fees payable are assessed in arrears.
 External Compensation for the Sale of Securities to Clients
 Clio does not receive any external compensation for the sale of securities to Clients, nor do any of
 the investment advisor representatives of Clio.

Item 7: Types of Clients
  Description
  Clio generally provides investment advice to individuals, high net worth individuals, family offices,
  endowments, foundations, LLCs, Trusts, Corporations, and other institutional investors.
  Additionally, Clio provides investment advice to limited partnerships which themselves might
  operate as pooled investment vehicles on behalf of their Limited Partners. In all such cases,
  neither Clio nor James Aldigé has any affiliation or involvement in such pooled investment
  vehicles beyond the normal investment advisory services described in Clio’s standard investment

 advisory agreement. No clients of Clio are solicited or referred to such pooled investment vehicles.
 Clio does not advise any pooled investment vehicle as a portfolio manager of that vehicle.
 Client relationships vary in scope and length of service.
 Account Minimums
 For standard discretionary asset management services, Clio generally requires a minimum
 account size of $2,000,000.
 For the Clio Core Portfolio Strategy, Clio generally requires a minimum account size of $1,000,000
 to open an account.
 Clio may, in its sole discretion, waive or reduce these minimum account requirements based on
 factors including, but not limited to, client relationship considerations, anticipated additional
 assets, account complexity, or other relevant circumstances.