Leibman Financial Servces Inc

Item 5 – Fees and Compensation

In addition to the information provided in Item 4 – Advisory Business, this section provides additional
details regarding our firm’s services along with descriptions of each service’s fees and compensation
arrangements. It should be noted that lower fees for comparable service may be available from other
sources. The exact fees and other terms will be outlined in the agreement between you and Leibman
Financial Services.

Asset Management Program

Fees charged for our Asset Management Programare charged based on a percentage of assets under
management, billed in advance (at the start of the billing period) on a quarterly calendar basis and
calculated based on the fair market value of your account as of the last business day of the previous
billing period. Fees are prorated (based on the number of days service is provided during the initial billing
period) for your account opened at any time other than the beginning of the billing period. If Asset
Management Program are commenced in the middle of a billing period, the prorated fee for the initial
billing period is billed in arrears at the same time as the next full billing period’s fee is billed.

The Asset Management Programcontinue in effect until terminated by either party (i.e., Leibman Financial
Services or you) by providing written notice of termination to the other party. Any prepaid, unearned fees
will be promptly refunded by Leibman Financial Services to you. Fee refunds will be determined on a pro
rata basis using the number of days services are actually provided during the final period.

Fees charged for our Asset Management Program are negotiable based on the complexity of the client's
situation, the relationship of the client with the investment adviser representative, and the total amount of
assets under management for the client.

For our Asset Management Program, the client will be charged the following annual fee based upon the
amount of assets under management:

Leibman Financial Services, Inc.   Page 9      Form ADV Part 2A Firm Brochure

         Assets Under Management                                                Annual Fees
         $0 – $250,000                                                          1.500%
         $250,001 – $1,000,000                                                  1.250%
         $1,000,001 – $2,000,000                                                1.100%
         $2,000,001 – $4,000,000                                                1.000%
         $4,000,001 – $8,000,000                                                0.900%
         $8,000,001 and above                                                   0.800%

         (This is not a “blended” annual fee schedule in which each tier of assets is charged a different
         rate under the annual fee schedule creating the effect of a blended fee rate used at the time of
         billing. Under our fee schedule described above, only one rate is charged against all of the
         client’s assets under management in this program.)

We offer clients a longevity discount of 0.05% reduction in the fee at the end of 5 years, 15 years, and 30
years of consecutive client tenure. Client participation in the longevity discount program will be evaluated
and management fees will be adjusted on an annual basis.

There is no minimum account size for Asset Management Program.

Leibman Financial Services believes that its annual fee is reasonable in relation to (i) services provided
and (ii) the fees charged by other investment advisers offering similar services/programs. However, our
annual investment advisory fee may be higher than that charged by other investment advisers offering
similar services/programs. In addition to our compensation, you may also incur charges imposed at the
mutual fund level (e.g., advisory fees and other fund expenses).

The investment advisory fees will be deducted from your account and paid directly to our firm by the
qualified custodian(s) of your account. You will authorize the qualified custodian(s) of your account to
deduct fees from your account and pay such fees directly to our firm.

You should review your account statements received from the qualified custodian(s) and verify that
appropriate investment advisory fees are being deducted. The qualified custodian(s) will not verify the
accuracy of the investment advisory fees deducted.

In addition, you will incur certain charges imposed by third parties other than Leibman Financial Services
in connection with investments made through your account including, but not limited to, mutual fund sales
loads, 12b-1 fees and surrender charges, variable annuity fees and surrender charges, IRA and qualified
retirement plan fees, and charges imposed by the qualified custodian(s) of your account. Management
fees charged by Leibman Financial Services are separate and distinct from the fees and expenses
charged by investment company securities that may be recommended to you. A description of these fees
and expenses is available in each investment company security’s prospectus.

Leibman Financial Services does not receive any portion of any other commissions or fees from you.
From time to time, investment adviser representatives may receive certain bonuses from the qualified
custodian. Leibman Financial Services does not receive any portion of any other commissions or fees
from the qualified custodian.

Leibman Financial Services, Inc.   Page 10     Form ADV Part 2A Firm Brochure

Fees for Portfolio Monitoring Program

As discussed under Item 4, Leibman Financial Services provides a Portfolio Monitoring Program for
investors not needing active discretionary or non-discretionary management of their investment accounts.
Under this program, the fee for portfolio monitoring services will be 0.25% of the assets held in the
accounts being monitored. Fees for our Portfolio Monitoring Program are billed in advance (at the start of
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Item 7 – Types of Clients

Leibman Financial Services generally provides investment advice to the following types of clients:

    •    Individuals
    •    High net worth individuals
    •    Trusts, estates, or charitable organizations
    •    Corporations or business entities other than those listed above

You are required to execute a written agreement with Leibman Financial Services specifying the
particular advisory services in order to establish a client arrangement with Leibman Financial Services.

Minimum Investment Amounts Required

Leibman Financial Services does not require a minimum amount in order to open an account under our
Asset Management Program.

Our Portfolio Monitoring Program has been designed for accounts with a minimum balance of $250,000
or more. Exceptions may be granted to this minimum at the discretion of the adviser.

Our Donor Advised Fund Program has been designed for accounts with a minimum balance of $25,000
or more.