Ironhorn Advisors LLC

ITEM 5 - FEES AND COMPENSATION
We charge an asset-based advisory fee and/or fixed fees. Fees may be negotiated based
on exceptional circumstances, extraordinary asset levels, or unique service requirements.

One-Time Onboarding Fee
The standard onboarding and implementation fee is $85,000. Founding Families will receive
an onboarding fee of $75,000, reflecting a Founding Family discount.
Fifty percent (50%) of the onboarding fee will be credited back to you over the first twelve
(12) months of the engagement. For Example, $37,500 (50% of the $75,000 onboarding fee)
will be applied as a monthly credit of $3,125 against your regular advisory fees each month
for twelve consecutive months, beginning with your first regular advisory fee invoice. The
remaining fifty percent (50%) of the onboarding fee ($37,500) is non-refundable and
represents the Firm's compensation for the extraordinary time, expertise, and resources
dedicated to your initial onboarding, discovery, and implementation—work that is
completed largely before regular advisory fees commence.

On-Going Advisory Fee
Our standard advisory fee is calculated as the greater of (i) one and one-quarter percent
(1.25%) of assets under management ("AUM") on an annualized basis, or (ii) a minimum
monthly fee of thirty thousand dollars ($30,000). Founding Families will receive a ten
percent (10%) discount on this fee. The asset-based fee is calculated monthly based on the
average daily balance or the market value of assets under our management as of the last
business day of each calendar month, and is billed monthly in arrears. The monthly

                                               ~5~

minimum fee, if applicable, is billed monthly in advance. Fees are automatically deducted
from your account(s) unless alternative billing arrangements are made in writing.
Fees will be adjusted proportionally for significant deposits or withdrawals made during a
billing period. For new accounts, the initial fee will be prorated based on the number of days
in the period that the account is under management.

Specialized Project Fees
Any services that fall out of scope of the defined family office services outlined in your
agreement with our Firm will be subject to additional fees. Any such fees will be discussed
and agreed upon in writing in advance of the commencement of the specialized project. All
Founding Fathers will receive a 10% discount on the specialized project fees.

Founding Families
Your Founding Family status and associated benefits are recognized for the duration of your
relationship with Ironhorn, subject to your continued compliance with the agreement with
Ironhorn. Founding Family benefits may not be transferable to other parties without written
consent from Ironhorn.

Other Fees
In addition to the advisory fees charged by Ironhorn, clients will incur additional expenses
imposed by third-party providers—such as brokerage fees, custodial charges, transaction-
related costs, mutual fund or ETF management fees, alternative investment fund fees and
expenses, and other operational costs. These fees are separate and distinct from the fees
and expenses charged by Ironhorn. Please see Item 12 of this brochure regarding broker-
dealer/custodian recommended and used by Ironhorn.
Further, we may recommend or coordinate with third-party service providers such as
attorneys, accountants, insurance professionals, real estate advisors, or other specialists.
These third-party service providers will bill you directly for their services. Ironhorn does not
receive any referral fees, commissions, or compensation from third-party service providers
unless such arrangements are disclosed to you in writing in advance and you provide your
consent.

Refunds Upon Termination
Ironhorn’s on-going advisory fee is billed in arrears; upon termination of services, advisory
fees will be prorated through the effective date of termination, and any unearned prepaid
fees will be refunded.
Monthly minimum advisory fees paid in advance will be prorated and refunded for the
unused portion of the month following termination.
The non-refundable portion of the onboarding fee ($37,500) will not be refunded under any
circumstances. Any unapplied credits of the onboarding fee at the time of termination will
not be paid out in cash or credited against final invoices beyond the effective termination
date.

                                              ~6~

Outside Compensation
Affiliated persons of Ironhorn Advisors that have insurance licenses will accept
compensation for the sale of insurance products to its clients. This presents a conflict of
interest and gives Ironhorn an incentive to recommend insurance products based on the
compensation received rather than on the client’s needs. The client will not pay a
commission and a management fee for the same product. Clients always have the option
to purchase recommended products through other agents that are not affiliated with
Ironhorn. Please see Item 10 for further information regarding our affiliate, Ironhorn Risk
Management, that offers Insurance services.

ITEM 7 - TYPES OF CLIENTS
Description
Ironhorn provides investment advisory service to high-net-worth individuals and operates
as a family office.

Account Minimums
Clients must have a minimum net worth $30 million for our service offerings. Ironhorn will
accept clients with a lower net worth upon the Firm’s discretion.