Lynx Investment Advisory LLC

Item 5. Fees and Compensation

     Consulting Services Fees

     Lynx’s standard consulting fees are based on assets under management using the schedule below:

     1.00% per year on the first $1,000,000
     .75% per year on the next $4,000,000
     .60% per year on the next $15,000,000
     .50% per year on the next $20,000,000
     Negotiable on assets above $40,000,000

      The amount of the fee for each client is negotiated on a case by case basis. In some cases, clients may pay
      a fixed fee. The fees are for Lynx’s advisory services only and do not include transactions fees, brokerage
      commissions or other management fees charged by non-affiliated third parties (such as custodians, separate
      account managers, mutual funds, etc.) that Lynx may recommend and with whom the client may invest.
      Unless there is a client- or manager-specific reason not to, Lynx recommends custodians such as Schwab
      and Fidelity, whose transaction and brokerage fees are typically $0 for equities/ETFs and $0 to $25 for
      mutual funds (with certain mutual fund companies at $45 a trade). Actual trading costs will vary depending
      on the number of shares traded and the value of client assets held at the particular custodian. When
      recommending mutual funds, Lynx recommends institutional class shares when available, in order to
      provide the lowest expense ratios available to the client for a specific fund.

      Fees are generally paid quarterly, in advance, based on the value of the client’s accounts as of the close of
      the previous business quarter, unless otherwise negotiated with the client and provided for in their contract.
      For new client accounts, the fee will be calculated on a pro-rata basis based on the funding date of the
      account. Any contributions made during a calendar quarter can cause an adjustment to the advisory fee. No
      adjustment or refund will be made with respect to partial withdrawals during any calendar quarter. Lynx’s
      service may be terminated by either party upon written notification in accordance with the applicable
      contractual notice of termination. Upon termination, the fees charged for advisory services will be pro-
      rated and a refund for any unearned fees will be issued.

      In some cases, fees may be paid quarterly in arrears. In the event of such a fee schedule, Lynx is entitled to
      the portion of the advisory fee earned during the quarter until the termination of the advisory agreement.
      From time to time, Lynx may offer clients who request it a fixed fee for its services.

      Clients may choose to be billed directly or have their fees directly deducted from a custodial account. In
      both cases, the client will receive a separate copy of each invoice, describing in detail the basis for their fee
      calculation.

Item 7. Types of Clients

     Lynx’s consulting clients generally fall into two categories: individuals and institutions. Individual clients
     include high-net worth individuals, families and/or trust accounts. Our institutional clients include
     endowments, foundations, other non-profits and retirement plans.