Marcuard Family Office Ltd

Item 5 – Fees and Compensation

In addition to the information provided in Item 4, this section provides additional details regarding
Marcuard’s services along with descriptions of each service’s fees and compensation arrangements. It
should be noted that lower fees for comparable services may be available from other financial advisors.

The exact fees and other terms will be outlined in the specific agreement between the client in question
and Marcuard.

A. Fee Schedule

The fee schedule below is only for illustrative purposes. All fees are subject to negotiation and will be
charged based upon the specific agreement between the client in question and Marcuard. Negotiability
factors influencing the applicable fees may include but are not limited to: client’s asset base, client’s
overall assets under management, fees for other assets, complexity, etc. For Cockpit fees one
negotiability factor could be the character and liquidity of the assets to be consolidated by Marcuard.
The applicable VAT will be invoiced in addition to the currently applicable fee rate.

Standard Management, Advisory and Cockpit Fees
Clients receiving investment advisory services (discretionary or non-discretionary) from Marcuard are
generally charged a management or advisory fee based on the amount of assets placed under
Marcuard’s management (“AuM”) or advisement (“AuA”). Should the client solely receive Cockpit
services, Marcuard shall charge stand-alone Cockpit fees based upon the amount of assets under
Cockpit (“AuC”). In cases where Marcuard also provides investment advisory services (discretionary or
non-discretionary) this Cockpit fee is typically included in the management or advisory fee. In
accordance with Marcuard’s Client Agreement, Marcuard will calculate its management fees for certain
asset classes, such as hedge funds, based on the provisional or estimated values; Marcuard will not
adjust or revise subsequently the management fee for the billing period even if the finalized value of
the asset differs from the provisional or estimated values used for the billing period.

For other illiquid positions, such as private equity funds and art, for SEC clients a Flat Fee rate will be
applied. Generally, for other non-SEC clients a flat fee plus performance fee will be applied.

Due to increasing regulatory and organizational requirements, Marcuard’s advisory fee rate is generally
speaking higher for clients receiving non-discretionary than for clients receiving discretionary
investment advisory services. Furthermore, the fee rate is generally higher for discretionary and non-
discretionary investment advisory services than for cockpit services.

The current fee structure creates an economic incentive for Marcuard to recommend the previously
mentioned higher paying investment advisory services, thus representing a conflict of interest.

Marcuard Family Office Ltd.                                                          Form ADV Part 2A

Marcuard seeks to mitigate this conflict of interest by discussing the differences between the different
services with each client.

A particular service is only recommended if and when Marcuard is sufficiently satisfied, that the offer
will meet the client’s needs and interests. It should be highlighted that similar investment advisers may
provide comparable services for lower fees than those charged by Marcuard to its clients. Every client
is responsible for making his/her own informed decision regarding any of Marcuard’s services.

The following fee schedule is for illustrative purposes only:
 Account Size        Fee for non-discretionary       Fee for discretionary           Fee for Cockpit services
                     investment advisory             investment advisory             (indicative Annual Fee Rate)
                     services                        services
                     (indicative Annual Fee Rate)    (indicative Annual Fee Rate)

 Up to USD 10        0.8-1.2%                        0.6-0.8%                        Negotiable, based on services
 million                                                                             required and AuC

 USD 10 million 0.7-1.1%                             0.5-0.7%                        Negotiable, based on services
 to 25 million                                                                       required and AuC

 USD 25 million to   0.5-1.0%                        0.3-0.5%                        Negotiable, based on services
 50 million                                                                          required and AuC

 Over USD 50         Negotiable, based on services   Negotiable, based on services   Negotiable, based on services
 million             required and AuM                required and AuA                required and AuC

Clients who wish to know the exact fee rate applicable to them are advised to consult their individual
agreement with Marcuard.

Project Fees
Project fees are typically charged separately and on an hourly basis. An approximate estimate of the
number of hours needed to complete a project will be provided to the client. Hourly fees range from
USD 300.- to USD 650.- per hour depending on the seniority of the employee and as stipulated in the
client agreement. In addition, Marcuard may – when necessary and appropriate - impose a minimum
annual fee, which will be disclosed to and agreed to in advance by the client in the specific client
agreement.

Break-up Fees
For investment advisory services which require extensive set-up work by Marcuard during the first year,
Marcuard may include an additional fee if the services are terminated prior to the first anniversary of
the engagement. Please refer to your client agreement for addition details.

Marcuard Family Office Ltd.                                                                                                             Form ADV Part 2A

Private Markets Advisory Fees
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Item 7 – Types of Clients

Marcuard typically provides services to high-net-worth individuals, families and their trusts, estates,
charitable organizations, corporations and other business entities with a minimum initial account size
of USD 20 million.
The foregoing minimums may be reduced by at Marcuard’s own discretion. Some of the factors taken
into consideration when granting an exception include but are not limited to:

•      Business activity;

•      Residency;

•      Age;

Marcuard Family Office Ltd.                                                       Form ADV Part 2A

•      Business relationship developmental potential.

All prospective clients draw up a written agreement with Marcuard specifying the particular advisory
services required by each of them in order to establish a suitable client arrangement.