Empiric Institutional LLC

Item 5 – Fees and Compensation
Description
Empiric Institutional’s fees for Portfolio Management Services are based upon a percentage
of assets under management and are as follows for separately managed accounts:

 Empiric Institutional, LLC                                             Part 2A: Firm Brochure

EI EAFE Small Cap:

The portfolio strategy seeks to provide long-term growth of capital by investing primarily
in high quality, reasonably valued small capitalization companies of foreign companies in
developed Non-US and Canda countries.

.90% on the first $5 million
.80% on the next $45 million
.75% on the next $50 million
.70% on the next $150 million
.65% on assets above $200 million

EI USA Small Cap:

The portfolio strategy seeks to provide long-term growth of capital by investing primarily
in high quality, reasonably valued small capitalization companies of companies in the
United States of America.

.90% on the first $5 million
.80% on the next $45 million
.75% on the next $50 million
.70% on the next $150 million
.65% on assets above $200 million

EI International

The portfolio strategy seeks to provide long-term growth of capital by investing primarily
in high quality, reasonably valued American Depository Receipts (“ADRs”) of foreign
companies in developed Non-US and Canda countries traded on American exchanges.

.55% on the first $50 million
.50% on the next $50 million
.45% on the next $100 million
.40% Remaining balance

EI Emerging Markets

The portfolio strategy seeks to provide long-term growth of capital by investing primarily
in high quality, reasonably valued American Depository Receipts (“ADRs”) of foreign

 Empiric Institutional, LLC                                                Part 2A: Firm Brochure

companies in emerging countries as well as multinational companies with emerging
economy exposure.

.70% on the first $50 million
.65% on the next $50 million
.55% on the next $100 million
.50% remaining balance

EI Global Markets
The portfolio strategy seeks to provide long-term growth of capital by investing primarily
in high quality common stocks, including American Depository Receipts (“ADRs”), of global
companies on American exchanges.

.55% on the first $50 million
.50% on the next $50 million
.45% on the next $100 million
.40% Remaining balance

EI Balanced Portfolio Strategy

The portfolio strategy seeks to provide both current income and long-term growth of
capital by investing in a combination of common stocks and fixed-income securities traded
in America exchanges.

.50% on the first $100 million
.45% on the next $100 million
.40% Remaining balance

Although Empiric Institutional has established the aforementioned fees, it retains the
discretion to negotiate alternative fees on a client-by-client basis. Client facts,
circumstances, and needs will be considered in determining the fee schedule. These
include, but are not limited to, the complexity of the client relationship, assets to be placed
under management, anticipated future additional assets, related accounts, portfolio style,
and account composition, among other factors. The specific manner in which fees are
charged by Empiric Institutional is established in a client’s written agreement with Empiric
Institutional.

Empiric Institutional has added additional strategies each with its own unique fees. The
Emerging Markets, International, Global Markets, and Balanced strategies were previously
managed by Harper Capital Management, which has now become part of the Empiric

 Empiric Institutional, LLC                                              Part 2A: Firm Brochure

Institutional investment umbrella. Harper Capital Management’s strategies were managed
by a sole portfolio manager, Eswar Menon, and now Eswar Menon is a partner of Empiric
Institutional where he continues to be the sole portfolio manager for the fundamental
strategies.

Fee Billing
Fees are billed quarterly by Empiric Institutional, in arrears, at the end of each calendar
quarter, based upon the value (market value or fair market value in the absence of market
value) of the account at the end of the quarter. Fees will be directly debited from the
custodian account, if acceptable to the client. Clients can prohibit direct debiting of
management fees, in which case Empiric Institutional will bill the client directly.

Termination of Services
A client agreement can be canceled, at any time, by the client for any reason upon written
notice, and by Empiric Institutional upon provision of 30 days written notice to the client.
Accounts initiated or terminated during a calendar quarter will be charged a prorated fee.
Upon termination of any account, any earned, unpaid fees will be due and payable.

Other Fees
In addition to the Firm’s advisory fees, clients are also responsible for the fees and
expenses charged by custodians and imposed by broker dealers, including but not limited
to, any transaction charges imposed by a broker dealer with which an independent
investment manager effects transactions for the client’s accounts. Please refer to the
“Brokerage Practices” section of this Form ADV for additional information.

Item 7 – Types of Clients
Description
Empiric Institutional currently provides portfolio management services to individuals,
high-net-worth individuals, and institutional accounts.

Account Minimums
Empiric Institutional imposes a minimum dollar value of assets per account for new clients
in each of its strategies, all of which it can waive at its discretion. The minimum initial
investment in its strategies is $2,000,000.

 Empiric Institutional, LLC                                              Part 2A: Firm Brochure