Hulsey Capital Management Inc

Item 5 – Fees and Compensation

The following paragraphs detail the fee structure and compensation methodology for services provided by the
Advisor. Each Client engaging the Advisor for services described herein shall be required to enter into a written
agreement with the Advisor.

A. Fees for Advisory Services
Wealth Management Services
Investment advisory fees are either paid annually in arrears or quarterly in arrears (“Billing Period”) pursuant to the
terms of the investment advisory agreement. Investment advisory fees are based on the market value of assets under
management at the end of the calendar quarter or year, pursuant to the terms of the agreement.

Fees for non-retirement accounts range from 0.50% to 1.00% annually and are calculated based on the types of
investment products held in the Client’s account. Equity securities are billed at 1.00%, fixed income investments at
0.50%, and cash or cash equivalents are not assessed a fee.

Fees for retirement accounts range up to 1% based on total assets under management with the Advisor.

Relationships with multiple objectives, specific reporting requirements, portfolio restrictions and other complexities
may be charged a higher fee.

Clients may make additions to and withdrawals from their account[s] at any time. However, reconciliations are
performed regularly to capture if, on any given day, assets are deposited into or withdrawn from an account after
the start of the billing period. An adjustment will be made in the form of a credit or debit the following month or quarter
to reflect the interim change in portfolio value from the date of the deposit/withdrawal until the end of the month or
quarter.

The investment advisory fee in the first Billing Period of service is prorated from the inception date of the account[s] to
the end of the first Billing Period. Fees may be negotiable at the sole discretion of the Advisor. The Client’s fees will
take into consideration the aggregate assets under management with the Advisor. All securities held in accounts
managed by Hulsey Capital will be independently valued by the Custodian. The Advisor will conduct periodic reviews
of the Custodian’s valuation to ensure accurate billing.

The Advisor’s fee is exclusive of, and in addition to any applicable securities transaction and custody fees, and other
related costs and expenses described in Item 5.C below, which may be incurred by the Client. However, the Advisor
shall not receive any portion of these commissions, fees, and costs.

B. Fee Billing
Wealth Management Services
Investment advisory fees are calculated by the Advisor or its delegate and deducted from the Client’s account[s] at the
Custodian. The Advisor shall send an invoice to the Custodian indicating the amount of the fees to be deducted from
the Client’s account[s] at the respective end date. For fees collected quarterly, the amount due is calculated by
applying the quarterly rate (annual rate divided by 4) to the total assets under management with Hulsey Capital at the
end of each quarter. Fees collected annually, the amount due is calculated by applying the annual rate to the total
assets under management with the Advisor as of the end of the previous year. Clients will be provided with a
statement, at least quarterly, from the Custodian reflecting deduction of the investment advisory fee. Clients are urged
                                              Hulsey Capital Management, Inc.
                                         411 W Searcy Street, Heber Springs, AR 72543
                                          Phone: (501) 362-1681 * Fax: (501) 362-3484

to also review and compare the statement provided by the Advisor to the brokerage statement from the Custodian, as
the Custodian does not perform a verification of fees. Clients provide written authorization permitting advisory fees to
be deducted by Hulsey Capital to be paid directly from their account[s] held by the Custodian as part of the
investment advisory agreement and separate account forms provided by the Custodian.

C. Other Fees and Expenses
Clients may incur certain fees or charges imposed by third parties, other than Hulsey Capital, in connection with
investments made on behalf of the Client’s account[s]. The Client is responsible for all custody and securities
execution fees charged by the Custodian, as applicable. The Advisor's recommended Custodian does not charge
securities transaction fees for ETF and equity trades in a Client's account, provided that the account meets the
terms and conditions of the Custodian's brokerage requirements. However, the Custodian typically charges for
mutual funds and other types of investments. The fees charged by Hulsey Capital are separate and distinct from
these custody and execution fees.

In addition, all fees paid to Hulsey Capital for investment advisory services are separate and distinct from the
expenses charged by mutual funds and ETFs to their shareholders, if applicable. These fees and expenses are
described in each fund’s prospectus. These fees and expenses will generally be used to pay management fees for
the funds, other fund expenses, account administration (e.g., custody, brokerage and account reporting), and a
possible distribution fee. A Client may be able to invest in these products directly, without the services of Hulsey
Capital, but would not receive the services provided by Hulsey Capital which are designed, among other things, to
assist the Client in determining which products or services are most appropriate for each Client’s financial situation
and objectives. Accordingly, the Client should review both the fees charged by the fund[s] and the fees charged by
Hulsey Capital to fully understand the total fees to be paid. Please refer to Item 12 – Brokerage Practices for
additional information.

D. Advance Payment of Fees and Termination
Wealth Management Services
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Item 7 – Types of Clients

Hulsey Capital offers investment advisory services to individuals, high net worth individuals, trusts, charitable
organizations, estates, and businesses. Hulsey Capital generally does not impose a minimum relationship size.