Grey Ledge Advisors LLC

Item 5 – Fees and Compensation
INDIVIDUAL PORTFOLIO MANAGEMENT FEES
The annualized fee for Individual Portfolio Management is charged as a percentage of assets under
management and is set forth in the following fee schedule:

 Assets Under Management                                Maximum Annual Advisory Rate
 Up to $1,000,000                                       1.00%
 On amounts over $1,000,000                             0.87%

Our fees are billed quarterly, in advance, at the beginning of each calendar quarter based upon the value
(market value or fair market value in the absence of market value), of the client's account at the end of the
previous quarter. If the Investment Management Agreement is executed at any other time other than the
first day of the quarter, our fees will apply on a pro rata basis, which means that the advisory fee is payable
in proportion to the number of days in the quarter for which you are a client. Fees will be debited from the
account in accordance with the client authorization in the Investment Management Agreement. The Firm
does not adjust its fee for intra-period client deposits and or withdrawals made during a fee period

Limited Negotiability of Advisory Fees: Although Grey Ledge Advisors, LLC has established the
aforementioned fee schedule(s), we retain the discretion to negotiate alternative fees on a client-by-client
basis. Client facts, circumstances and needs are 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, account composition, reports, among other factors. The specific annual fee
schedule is identified in the Agreement between the adviser and each client.

We may group certain related client accounts for the purposes of achieving the minimum account size
requirements and determining the annualized fee.

Discounts, not generally available to our advisory clients, may be offered to family members and friends of
associated persons of our firm.

Legacy client relationships may be governed by investment advisory Agreements with different terms and
fee schedules.

CONSULTING SERVICES FEES
The hourly fee for Consulting Services is $300.00 an hour. Grey Ledge Advisors, LLC will send an invoice
to the client upon conclusion of the consultation, and when deemed appropriate by Grey Ledge Advisors,
LLC for time utilized for specific requests from the client.

A suggested minimum of $500,000 of assets under management is normal for individual portfolio
management service. This account size may be negotiable under certain circumstances. Grey Ledge
Advisors, LLC may group certain related client accounts for the purposes of achieving the minimum account
size.

Grey Ledge Advisors, LLC’s hourly advisory fees are not negotiable.

FINANCIAL PLANNING SERVICES FEES
We charge either a fixed fee ranging from $300 to $1,500 or an hourly fee of $300 for financial planning
services. Our fee is negotiable depending upon the complexity and scope of the plan, your financial situation,
and your objectives.

We may require that you pay 50% of the fee in advance and the remaining portion upon the completion of
the services rendered. We will not require prepayment of a fee more than six months in advance and in
excess of $1,200.

PENSION CONSULTING SERVICES FEES
We charge an annual fee for Pension Consulting Services of $1,200.00, which is billed in advance on a
quarterly basis.

Clients may elect to have Grey Ledge Advisors’ advisory fees deducted from their custodial account. Both
Grey Ledge Advisors’ Agreement and the custodial/clearing agreement may authorize the custodian to debit
the account for the amount of Grey Ledge Advisors’ investment advisory fee and to directly remit that advisory
fee to Grey Ledge Advisors in compliance with regulatory procedures. In the limited event that Grey Ledge
Advisors bills the client directly, payment is due upon receipt of Grey Ledge Advisors’ invoice. Grey Ledge
Advisors shall deduct fees and/or bill clients monthly in advance, based upon the market value of the assets
on the last business day of the previous month.

GENERAL INFORMATION

Termination of the Advisory Relationship: A client agreement may be canceled at any time, by either
party, for any reason upon receipt of 30 days written notice. As disclosed above, certain fees are paid in
advance of services provided. Upon termination of any account, any prepaid, unearned fees will be promptly
refunded. In calculating a client’s reimbursement of fees, we will pro rate the reimbursement according to the
number of days remaining in the billing period.

As discussed below, unless the client directs otherwise or an individual client’s circumstances require, Grey
Ledge Advisors shall generally recommend that Charles Schwab & Co. Inc. (“Schwab”) or Fidelity Brokerage
Services, LLC and National Financial Services, LLC (collectively “Fidelity”) serve as the broker-
dealer/custodian for client investment management assets.

Broker-dealers such as Schwab and Fidelity charge brokerage commissions, transaction, and/or other type
fees for effecting certain types of securities transactions (i.e., including transaction fees for certain mutual
funds, and mark-ups and mark-downs charged for fixed income transactions, etc.). The types of securities
for which transaction fees, commissions, and/or other type fees (as well as the amount of those fees) shall
differ depending upon the broker-dealer/custodian. While certain custodians, including Schwab, and Fidelity
generally (with the potential exception for large orders) do not currently charge fees on individual equity
transactions (including ETFs), others do. There can be no assurance that Schwab and Fidelity will not change
their transaction fee pricing in the future.

Mutual Fund and ETF Fees: All fees paid to Grey Ledge Advisors, LLC for investment advisory services
...

Item 7 - Types of Clients
Grey Ledge Advisors, LLC provides advisory services to the following types of clients:

Individuals (other than high net worth individuals); High net worth individuals; Banking or Thrift Institutions;
Credit Unions, Pension and profit sharing plans (other than plan participants); Charitable organizations; and
Corporations or other businesses.