Commencement Financial Planning LLC

Item 5 – Fees and Compensation
There are two methods of compensation: (1) Asset-based fees; or (2) Hourly project-based
fees.

Asset-Based Fees
Asset based fees are charged for asset management services. They are calculated by
multiplying the average gross assets for the preceding quarter by the annual fee rate, which
ranges from 0.00% to 0.80% per annum. Fees are calculated in arrears, meaning that the fee
for a given quarter will be calculated and paid at the end of that quarter.

The fee for any partial quarter upon opening or termination of an account will be prorated.
This means that if a client begins a relationship with the Advisor during a quarter, the
Advisor will calculate a fee for the inception quarter the same way a full quarter is calculated,
except once the result is achieved, we will pro-rate the fee for the number of days the client
was a client during the quarter. In the event of termination, Asset Based Fees are prorated
to the date of termination and any unearned fees paid by the client are refunded promptly.

Clients also have the option of paying advisory fees by check or by having fees automatically
deducted from their account custodian. To the extent fees are charged through the account,
that charge will appear on the client’s statement from their custodian. We urge the client to
compare this information with the fees listed in the account statement.

Hourly Project-Based Fees
The hourly project-based financial planning fee is $400/hour. Fees are paid at the end of
each meeting and based on actual time spent by the Advisor.

Other Fees
The Advisor’s fees are exclusive of brokerage commissions, transaction fees, and other
related costs and expenses which shall be incurred by the client. Clients may incur certain
charges imposed by custodians, brokers, third party investment and other third parties such
as fees charged by managers, custodial fees, deferred sales charges, odd-lot differentials,
transfer taxes, wire transfer and electronic fund fees, and other fees and taxes on brokerage
accounts and securities transactions. Mutual funds and exchange traded funds also carry
internal fund fees, which are disclosed in a fund’s prospectus.

Such charges, fees and commissions are exclusive of and in addition to the Advisor’s fee, and
the Advisor shall not receive any portion of these commissions, fees, and costs.

Item 7 – Types of Clients
The Advisor generally provides investment advice to individuals and families.

The Advisor has no minimum account size for clients engaged on an hourly basis.

The Advisor imposes an account minimum of $1,000,000 for clients engaged on the basis of
asset-based fees. The Advisor retains the right to waive its account minimum and may do so
on a case-by-case basis.