Eagle Bay Advisors LLC

Item 5. Fees and Compensation
Eagle Bay offers services on a fee basis, which may include fixed and/or hourly fees, as well as
fees based upon assets under management or advisement.

Family Office Services
Eagle Bay offers family office services to clients under various fee arrangements that suit a client’s
needs. Some families opt for a flat annual retainer fee, annual fees based on the value of assets
under the Firm’s management, project-based fees, and hourly fee arrangements.
These fees are negotiable, but generally range from $150 to $1,000 per hour when charged on
an hourly basis and between 25 and 150 basis points (0.25% – 1.50%) when based on an asset-
based arrangement. The amount of the fee depends upon the scope and complexity of the
services and the professional rendering the family office services. Alternatively, the Firm may
charge a fixed fee based upon the anticipated hours necessary for a project, in addition to the
other factors mentioned above. If the client engages the Firm for additional investment advisory
services, Eagle Bay may offset all or a portion of its fees for those services based upon the amount
paid for the family office services.

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Disclosure Brochure                                                 Eagle Bay Family Office

The terms and conditions of the family office services engagement are set forth in the Wealth
Management Agreement and Eagle Bay.

Investment Management Fees
Eagle Bay offers investment management services for an annual fee based on the value of assets
under the Firm’s management. This management fee generally varies between 50 and 150 basis
points (0.50% – 1.50%) depending upon the size and composition of a client’s portfolio and the
type of services rendered. The Investment Management Fee is prorated and paid monthly or
quarterly in advance based upon the market value of the Assets as recently reported by
Independent Managers, custodians or the client. The time between the date of the valuations
and the receipt by Eagle Bay of valuation reports generally requires the Firm to use valuations
from a previous period to calculate the current period’s fees. When certain assets are valued less
frequently than monthly, Eagle Bay adjusts the most recent valuation estimates provided to the
Firm by any intra- valuation period contributions or withdrawals to or from those assets. In the
event the Wealth Management Agreement is terminated, the fee for the final billing period is
prorated through the effective date of the termination and the outstanding or unearned portion
of the fee is charged or refunded to the client, as appropriate.
Additionally, for asset management services the Firm provides with respect to certain client
holdings (e.g., held-away assets, accommodation accounts, alternative investments, etc.), Eagle
Bay may negotiate a fee rate that differs from the range set forth above.

Fee Discretion
Eagle Bay may, in its sole discretion, negotiate to charge a lesser fee based upon certain criteria,
such as anticipated future earning capacity, anticipated future additional assets, dollar amount of
assets to be managed, related accounts, account composition, pre-existing/legacy client
relationship, account retention and pro bono activities.

Additional Fees and Expenses
In addition to the advisory fees paid to Eagle Bay, clients may also incur certain charges imposed
by unaffiliated third parties such as broker-dealers, custodians, trust companies, banks and other
financial institutions and Service providers (collectively, “Financial Institutions”).

These additional charges may include brokerage commissions, transaction fees, custodial fees,
unified managed account fees, reporting service fees, unified managed account platform fees,
reporting fees, tax overlay fees, fees for third-party research, due diligence, and other services
provided to us, fees attributable to alternative assets, fees charged by the Independent
Managers, margin or other borrowing costs, charges imposed directly by a mutual fund or ETF
in a client’s account, as disclosed in the fund’s prospectus (e.g., fund management fees and
other fund expenses), deferred sales charges, odd-lot differentials, transfer taxes, wire transfer

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Disclosure Brochure                                                     Eagle Bay Family Office

 and electronic fund fees and other fees and taxes on brokerage accounts and securities
 transactions. The Firm’s brokerage practices are described at length in Item 12, below.

 Direct Fee Debit
 Clients generally provide Eagle Bay and/or certain Financial Institutions with the authority to
 directly debit their accounts for payment of fees. The Financial Institutions that act as the qualified
 custodian for client accounts, from which the Firm retains the authority to directly deduct fees, have
 agreed to send statements to clients not less than quarterly detailing all account transactions,
 including any amounts paid to Eagle Bay. Alternatively, clients may elect to have Eagle Bay send
 a separate invoice for direct payment.

 Account Additions and Withdrawals
 Clients may make additions to and withdrawals from their account at any time, subject to Eagle
 Bay’s right to terminate an account. Additions may be in cash or securities provided that the Firm
 reserves the right to liquidate any transferred securities or declines to accept particular securities
 into a client’s account. Clients may withdraw account assets on notice to Eagle Bay, subject to the
 usual and customary securities settlement procedures. However, the Firm generally designs its
 portfolios as long-term investments and the withdrawal of assets may impair the achievement of a
 client’s investment objectives. Eagle Bay may consult with its clients about the options and
 implications of transferring securities. Clients are advised that when transferred securities are
...

Item 7. Types of Clients
 Eagle Bay offers services to high net-worth individuals and families, trusts, estates, charitable
 organizations, corporations, and business entities.
 Minimum Account Requirements
 Eagle Bay does not impose a stated minimum fee or minimum portfolio value for starting and
 maintaining an investment management relationship. Certain Independent Managers may,
 however, impose more restrictive account requirements and billing practices from the Firm. In

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Disclosure Brochure                                                  Eagle Bay Family Office

these instances, Eagle Bay may alter its corresponding account requirements and/or billing
practices to accommodate those of the Independent Managers.