Greenleaf Financial Group LLC

Fees and Compensation
Greenleaf Financial Group is a fee-only investment advisory practice and financial planning firm
and therefore does not receive payment for any product purchases or sales. No commissions or
remuneration from any third parties are accepted, either on a soft dollar basis or otherwise. No
referral fees are paid to, or accepted from, third parties.

Investment Management Fees:
For clients with appropriate needs, Greenleaf Financial Group offers investment management
services on a discretionary basis. Fees for investment management are charged according to the
following schedule:

   •   The first $500,000 is billed at:               0.90% annually
   •   Amounts above $500,000 are billed at:          0.50% annually

Fees are debited from client accounts quarterly in arrears, based on the value of the account(s) at
the end of the quarter. For the initial quarter, as determined by the first account's funding date, the
fee is prorated.

Investment Management Fees for Clients with Greater than $1 million in Assets Under
Management:
   à Investment management clients with aggregate household account assets that surpass $1
       million will be charged a flat 0.50% annually after two years. This represents a fee decrease
       of 0.40% on the first $500,000 of assets.

   à Investment management clients with aggregate household account assets that surpass $2
     million will be charged a flat 0.45% annually after two years.

   à Investment management clients with aggregate household account assets that surpass $3
     million will be charged a flat 0.40% annually after two years.

These rates may be changed only with advanced written notice. Further reductions may be offered
for assets above $4 million. Financial planning advice provided during the term of this agreement
does not have an additional fee.

Minimum Asset Requirements:
Greenleaf Financial Group has a $500,000 account minimum for new clients seeking this service.
Therefore, the minimum annual fee for investment management is $4,500 for new clients.
Accounts may be aggregated to meet this minimum and all accounts represented by one individual
or a married or unmarried couple are combined for fee purposes. However, this consideration may
not necessarily be extended to other client family members who reside at different addresses or
who have substantially different investment parameters.

Clients who engaged Greenleaf Financial Group prior to March 2014 have lower minimum
requirements and correspondingly lower minimum annual fees.

If the client's assets are below the aggregate account minimum detailed on their service agreement
due to withdrawals or other client actions, they will be charged the minimum quarterly fee.
Greenleaf Financial Group may waive this minimum requirement under certain circumstances,
such as a substantial market decline.

Greenleaf Financial Group's investment management fees cover active account management,
monitoring, and rebalancing. In addition, the firm will provide certain financial-planning services
as part of this ongoing relationship. Such services depend upon the client's needs, but generally
include a retirement security analysis and advice for current workplace plan accounts, which
cannot be moved to Greenleaf’s custodian. At no time will the firm provide tax or legal services.

Mutual Fund Fees and Other Investment Costs
Fees paid to Greenleaf Financial Group for any of the above services are completely separate from
the fees and expenses charged by mutual-fund companies or other service providers. Clients may
also incur transaction costs or administrative fees from custodians, broker-dealers, trust
companies, or other service providers.

Greenleaf Financial Group strives to disclose such costs to clients so that they understand and
approve of fees other than those charged by the firm before engaging the firm for investment
management or advisory services. However, the firm cannot influence other service providers and
therefore cannot protect clients from costs, or cost increases, charged by third parties.

Greenleaf Financial Group does not receive any portion of these other fees. The firm's only manner
of compensation is fees paid by clients.

           Performance-Based Fees and Side-By-Side Management
Greenleaf Financial Group and its principals and representatives do not charge or accept
performance-based fees. The firm does not manage private funds, separately managed accounts, or
mutual funds and therefore does not engage in any side-by-side management.

Types of Clients
Greenleaf Financial Group primarily serves individuals and families. The firm does not target any
particular type of person and its financial planners work with people of different ages,
backgrounds, and circumstances. Greenleaf’s clients include pre- and post-retirees, self-employed
individuals, small business owners, nontraditional couples, and more.

Greenleaf Financial Group’s principals will not serve as trustees on trust accounts.

        Methods of Analysis, Investment Strategies, and Risk of Loss
When Greenleaf Financial Group is engaged to provide investment management or investment
advice, the client's current financial situation, needs, goals, objectives and willingness and ability to
withstand risk are first evaluated. Asset allocation and investment policy decisions are then made
to help the client work towards their overall financial objectives within an appropriate level of risk.

   •   Asset allocation is a key component of our investment recommendations.
   •   The firm employs fundamental, long-term philosophies in their investment
       recommendations and strategies.
   •   Greenleaf Financial Group strives to create portfolios that have both an “offense” and a
       “defense.” Since we believe markets are not fully predictable, we try to position clients for a
       variety of market conditions and a range of near-and long-term outcomes.

   •   However, the firm believes all investments must be regularly monitored to maintain a
       suitable allocation, as well as sufficient diversification.
   •   Recommendations provided are based on publicly available reports, analyses, databases,
       research materials, computerized asset allocation models, and various subscription services.

Greenleaf Financial Group’s clients are reminded, however, that there is no guarantee any
investment will increase in value and investments may decline in value.

Investing in securities may result in a loss of principal.

Although Greenleaf strives to moderate these risks, clients should be prepared to
accept certain investment risks. These risks include, among others:
   • Market risk                                    • Currency risk
   • Liquidity risk                                 • Political risk
   • Interest-rate risk                             • Business and industry risk
   • Credit risk