Macro Advisors Inc

Item 5 Fees and Compensation
Portfolio Management Services
Our fee for portfolio management services is based on a percentage of your assets we manage and is
set forth in the following fee schedule:

Under Management [AUM]                Annual Fee*
Less than $250,000                    1.5%
From $250,001 to less than $500,000 1.25%
From $500,001 to less than $1,000,000 1.00%
$1,000,001 and above                  Negotiable

* Our fees are negotiable. Where clients have granted us trading authority, all legacy holdings will be
included for our annual AUM reporting obligation and will be included for calculating our annual
advisory fee. Legacy holdings include but are not limited those assets at account opening and future
client initiated trades unless otherwise excluded in writing.

Our annual portfolio management fee is billed and payable quarterly in arrears based on the value of
your account on the last day of the quarter.

If the portfolio management agreement is executed at any time other than the first day of a calendar
quarter, our fees will apply on a pro rata basis, which means that the advisory fee is payable in
proportion to the number of days in the quarter for which you are a client. Our advisory fee is
negotiable, depending on individual client circumstances.

At our discretion, we may combine the account values of family members living in the same household
to determine the applicable advisory fee. For example, we may combine account values for you and
your minor children, joint accounts with your spouse, and other types of related accounts. Combining
account values may increase the asset total, which may result in your paying a reduced advisory fee
based on the available breakpoints in our fee schedule stated above.

We will either send you an invoice for the payment of our advisory fee, or we will deduct our fee
directly from your account through the qualified custodian holding your funds and securities. We will
deduct our advisory fee only when the following requirements are met:

    • You provide our firm with written authorization permitting the fees to be paid directly from your
      account held by the qualified custodian.

    • We provide you an invoice showing the amount of the fee, the value of the assets on which the
      fee is based, and the specific manner in which the fee was calculated.

    • The qualified custodian agrees to send you a statement, at least quarterly, indicating all
      amounts dispersed from your account including the amount of the advisory fee paid directly to
      our firm. We will also receive a duplicate copy of your account statements.

You should compare our invoices with the statements from your account custodian to reconcile the
information reflected on each statement. If you have a question regarding your invoice or if you did not
receive a statement from your custodian, please contact us at the telephone number on the cover page
of this brochure.

You may terminate the management agreement upon written notice to our firm. You will incur a pro
rata charge for services rendered prior to the termination of the portfolio management agreement,
which means you will incur advisory fees only in proportion to the number of days in the quarter for
which you are a client.

Selection of Other Advisers
Advisory fees charged by TPMMs are separate and apart from our advisory fees. Assets managed by
TPMMs will be included in calculating our advisory fee, which is based on the fee schedule set forth in
the Portfolio Management Services section in this brochure. Advisory fees that you pay to the TPMM
are established and payable in accordance with the brochure provided by each TPMM to whom you
are referred. These fees may or may not be negotiable. You should review the recommended TPMM's
brochure and take into consideration the TPMM's fees along with our fees to determine the total
amount of fees associated with this program.

Financial Planning Services
We charge an hourly fee of $150.00 for financial planning services, which is negotiable depending on
the scope and complexity of the plan, your situation, and your financial objectives. Although a financial
plan typically requires 3 hours to complete, an estimate of the total time/cost will be determined at the
start of the advisory relationship. In limited circumstances, the cost/time could potentially exceed the
initial estimate. In such cases, we will notify you and request that you approve the additional fee. Fees
are due upon completion of services rendered.

At our discretion, we may offset our financial planning fees to the extent you implement the financial
plan through our Portfolio Management Service.

You may terminate the financial planning agreement by providing written notice to our firm. Refunds
are not applicable since financial planning fees are paid on completion of the contracted services.

Advisory Services to Retirement Plans and Plan Participants and/or Pension Consulting
Services
The services we provide to your Plan are described in the services sections above and in the advisory
agreement that you sign. Our compensation for these services is based on the fee schedule noted
above under our porfolio management services. These services may be negotiated on a Plan
level, and will be set forth in the advisory agreement. Our fees are typically directly debited from the
Plan assets on a quarterly basis however they can be invoiced directly to the plan sponsor when
appropriate. We do not reasonably expect to receive any other compensation, direct or indirect, for the
services we provide to the Plan or Participants. If we receive any other compensation for such
services, we will (i) offset the compensation against our stated fees, and (ii) we will promptly disclose
the amount of such compensation, the services rendered for such compensation and the payer of such
compensation to you.

Additional Fees and Expenses
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Item 7 Types of Clients
We offer investment advisory services to individuals, pension and profit sharing plans, trusts, estates,
charitable organizations, corporations, and other business entities.

In general, we require a minimum of $100,000 to open and maintain an advisory account. At our
discretion, we may waive this minimum account size. For example, we may waive the minimum if you
appear to have significant potential for increasing your assets under our management. We may also
combine account values for you and your minor children, joint accounts with your spouse, and other
types of related accounts to meet the stated minimum.