Fulcrum Capital LLC

Item 5 – Fees and Compensation

A     We are a fee-only advisory firm, meaning we are compensated only by our Clients and do
      not receive compensation or commissions from any other parties. We believe this method
      of compensation minimizes conflicts of interest.

      In consideration for our services, Clients pay us a fee monthly in arrears. The fee is
      calculated based on the agreed upon annual schedule. The applicable rate tier per annum
      is divided by 12 and multiplied by the market value of the account. Fees will be prorated
      for partial months, if applicable. The market value for billing purposes equals the sum of
      the values of all assets in the account at month end, as reported by the custodian and
      priced by our third-party portfolio management platform, not adjusted by any margin
      debit. Our advisory fees will be adjusted when Client accounts have cash inflows or
      outflows of $25,000 and higher. The fee adjustment will be assessed or refunded at
      month-end and prorated as of the date of the flow.

      Compensation for our services is calculated in accordance with “Schedule A” of the
      Investment Advisory Agreement (IAA”) entered into with each Client when we begin our
      professional relationship. The IAA may be amended from time to time by us upon 30-days
      prior written notice to Client.

      STANDARD FEE SCHEDULE

                     Asset Range Increments                   Rate
                     Zero to $2,000,000                       1.00%
                     $2,000,000 to $5,000,000                 0.70%
                     $5,000,000 to $10,000,000                0.55%
                     $10,000,000 to $25,000,000               0.40%
                     Above $25,000,000                        negotiable

      Our fee schedule is “tiered.” As an example, a $4 million portfolio would be charged 1.00%
      on the first $2 million of assets and 0.70% on the next $2 million. Notwithstanding the
      schedule above, we assess a minimum annual fee of $20,000 per billing relationship, not
      additive to the standard tiered fee schedule in the IAA. Our fee schedule, as well as the

                         FULCRUM CAPITAL - PART 2A OF FORM ADV – FIRM BROCHURE

    minimum, are negotiable. All security pricing is provided by the Client’s custodian, in
    accordance with the custodian’s pricing policies, which are disseminated periodically to
    their customers.

    As indicated above in Item 4, we will, as appropriate and suitable, recommend illiquid
    investments, including private placements/limited partnerships. In those cases, we will
    negotiate a fee separately from our standard fee schedule reflected above. If the
    custodian does not provide pricing, the asset will be valued using one of the following
    methods:

          At the most recent market value provided by the issuer, if available;

          At the “invested amount” or “cost” (if not regularly traded or the issuer does not
           provide a valuation). We choose this method when a current value is not
           available from an independent third party.

    Valuations of illiquid securities may be materially different—either higher or lower—than
    the values you would realize upon liquidation.

    We also may select third-party managers (“sub-advisors”) where we believe it is
    appropriate for the Client’s investment needs. The sub-advisor’s fees, if any, are charged
    in addition to Fulcrum’s fees above and are processed through the sub-advisor, not
    through Fulcrum. Clients will receive current copies of any sub-advisor’s Brochure and
    may be required to execute additional agreements directly with the sub-advisor.

B   We require Clients to pay our fees by direct debit from the custodial account, as
    authorized in the investment advisory agreement. Payment of fees may result in the
    liquidation of Client’s securities if there is insufficient cash in the account. While we have
    controls in place to ensure accuracy, the custodian does not independently confirm our
    calculations; Clients share responsibility with us for verifying fee billing accuracy and we
    urge Clients to review their custodial statements carefully and notify us promptly of any
    discrepancies.

C   In addition to our fee and any sub-advisor’s fees, Clients may be required to pay a
    proportionate share of any mutual fund’s fees and charges for brokerage commissions,
    stock transfer fees, and other similar charges incurred in connection with transactions for
    their account. These fees are paid out of the assets in a Client’s account and are in addition
    to the investment management fees paid to us. Please see Item 12 – Brokerage Practices
    for more information.

D   In the event the advisory relationship is terminated, Clients are responsible for Fulcrum’s
    compensation for work performed through the date of termination. Fees for partial

                             FULCRUM CAPITAL - PART 2A OF FORM ADV – FIRM BROCHURE

        months at the commencement or termination of this Agreement will be billed on a pro-
        rata basis reflecting the number of days the account was open during the month. Monthly
        fee adjustments for additional assets received into the account during a month or for
        partial withdrawals will also be charged on a pro rata basis.

E       We are a fee-only investment advisory firm paid on a percentage of Client assets
        managed. This means that no supervised person associated with us receives or accepts
        any compensation for the sale of securities or investment products.

Item 7 – Types of Clients

We provide investment advice to the following types of Clients:

       Corporations
       Individuals
       Trusts, Estates or Charitable Organizations

Because each Client is unique, we encourage Client involvement in the planning and processes
connected to management of their accounts. Such involvement does not have to be time
consuming, though we want our Clients to remain informed and have a sense of confidence about
their investments. Our minimum household size is $1 million, though we may accept, in our sole
discretion, households with fewer assets.