Honeoye Falls Capital LLC

Item 5 – Fees and Compensation

A. Each Client’s Account will generally be charged an asset-based management which will range
between 0..25 %-2.0% of the net asset value of a Client’s total assets in its Account (the “Management
Fee”). Management Fees are negotiable on a case by case basis with each Client.

B. The Firm bills each Client for the Management Fee which is payable by a Client’s custodian unless
otherwise agreed to on a case by case basis with each Client.

C. Each Client Account will pay for the following expenses which include, but are not limited to, all costs
and expenses of transferring the assets to or from the Account; all taxes and governmental fees and
charges incurred by the Account (including all withholding taxes); all brokerage commissions and
other trading and transaction costs and fees (including financing fees and costs), underwriting
discounts, sales loads, spreads and other similar charges; all charges of U.S. Depositories and of any
custodian and/or other service providers; administrator fees; audit and tax preparation costs; legal
and other professional fees; and certain other fees and expenses relating to the research and trading
activities of the Firm; other customary costs; airfare, hotel, lodging, meals, professional and other third-
party consulting expenses, expenses related to third party research, publications, data and data
services, including real time pricing and market information (such as Bloomberg and Reuters services)
and historical pricing and other data, order management systems, portfolio management systems and
risk management systems.

D. The Management Fee is payable on a quarterly basis in advance on the first day of each calendar
quarter. The Management Fee will be prorated for any period that is less than a full calendar quarter.
In the event of a withdrawal by a Client other than as of the last day of a calendar quarter, a pro rata
portion of the Management Fee, based upon the actual number of days remaining in such quarter,
will be repaid by the Firm to such Client.

E. None of the Firm nor any of its supervised persons accepts compensation for the sale of securities
or other investment products.

Item 7 – Types of Clients

Honeoye Falls caters to a diverse clientele, including individuals, high net worth families, trusts,
foundations, endowments, non-profit organizations and other entities.

Honeoye Falls generally requires an initial investment of at least $250,000 for investment advisory
services. Honeoye Falls does not have an ongoing minimum account size. In our sole discretion, we
may waive this minimum based on a Client’s particular circumstances.