Gladwyn Financial Advisors Inc

Item 5 – Fees and Compensation

  A. Financial Planning and Consulting Services
  Gladwyn charges an hourly rate of $250 for financial planning and consulting services.
  An estimate of the total time/cost will be determined at the commencement of the
  advisory relationship. An initial payment of 50% of the estimated time/cost may be
  required at the start of the advisory relationship and the balance will be due upon
  completion of the contracted services. The final fee will be determined based on the
  facts and circumstances of the client’s financial situation and the complexity of the
  financial plan or service(s) requested. In limited circumstances, the time/cost could
  potentially exceed the initial estimate. In such cases Gladwyn will notify the client and
  may request that the client pay an additional fee.
  The client may terminate the financial planning and/or consulting agreement within five
  business days of the date of acceptance without penalty to the client. After the five-
  business day period, either party may terminate the agreement by providing written
  notice to the other party. However, the client will incur a pro rata charge for bona fide
  financial planning and/or consulting services rendered prior to such termination. In the
  event there are any prepaid, unearned fees, Gladwyn will promptly refund a pro rata
  share to the client.

B. Portfolio Management Services
The annual fee for portfolio management services is billed quarterly in arrears based on
the market value of the managed accounts on the last day of the quarter. Fees are
assessed pro rata in the event the portfolio management agreement is executed at any
time other than the first day of a billing period. Gladwyn’s fees for portfolio management
services, subject to negotiation, are based on the following tiered fee schedule:

     Assets Under Management                 Quarterly Fee     Annualized Fee
     $0 to $50,000                             0.5000%                 2.00%
     $50,001 to $100,000                       0.3750%                 1.50%
     $100,001 to $500,000                      0.3125%                 1.25%
     $500,001 to $1,000,000                    0.2500%                 1.00%
     $1,000,001 to $1,250,000                  0.2250%                 0.90%
     $1,250,001 to $2,500,000                  0.2000%                 0.80%
     $2,500,001 to $5,000,000                  0.1750%                 0.70%
     $5,000,001 to $7,500,000                  0.1500%                 0.60%
     $7,500,001 to $10,000,000                 0.1250%                 0.50%
     $10,000,001 and higher                    0.1000%                 0.40%

Payment of fees will be made by the custodian holding the client’s securities provided
that the following requirements are met:

 • The client provides written authorization permitting the fees to be paid directly from
   the client’s account held by the custodian (i.e., Fidelity Investments). Gladwyn does
   not have access to client funds for payment of fees without client consent in writing.

 • Gladwyn sends the client an invoice showing the amount of the fee, the value of the
   client’s assets on which the fee is based, and the specific manner in which the fee
   was calculated.

 • The custodian agrees to send the client a statement, at least quarterly, indicating all
   amounts dispersed from the account including the amount of the advisory fee paid
   directly to Gladwyn.

Gladwyn fees are exclusive of brokerage transaction fees, and other related costs or
expenses. 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 charge internal management fees which
are disclosed in a fund’s prospectus. Such charges and fees are exclusive of and in
addition to Gladwyn’s fee. Gladwyn shall not receive any portion of custodian
charges or other third party fees.

  Gladwyn retains the discretion to negotiate fees on a client-by-client basis. Client facts,
  circumstances, and needs will be considered in determining the fee schedule. These
  include the complexity of the client, assets to be placed under management, anticipated
  future additional assets, related accounts, portfolio style, and account composition,
  among other factors. Discounts, which are not generally available to our advisory
  clients, may be offered to family members and friends of employees of our firm. We may
  group certain related accounts for the purpose of determining the annualized fee. The
  specific annual fee schedule is identified in the signed Engagement Agreement made
  between the advisor and each client.

  Gladwyn or our client may terminate the management agreement within five business
  days of the date of acceptance without penalty to the client. After the five-business day
  period, either party, upon 30 days written notice to the other, may terminate the
  management agreement. The management fee will be pro-rated for the quarter in which
  the cancellation notice was given, and fees will be due and payable by the client.
  Refunds are not applicable as fees are paid in arrears.

Item 7 – Types of Clients

  Gladwyn offers personalized financial planning and investment advisory services to
  individuals, pension and profit-sharing plans, trusts, estates, charitable organizations,
  corporations, and other business entities.

  Gladwyn has no minimum account size nor minimum client net worth policies.