Monex Asset Management Inc

Item 5 - Fees and Compensation

Type of Compensation
Monex Asset Management is compensated for the investment services it provides to its clients
through a percentage of assets under management and fixed fees.

        Advisory Fees
        Monex Asset Management offers its services on a menu basis. Although many fees for our
services are negotiable and discussed in detail during the presentations of Monex Asset
Management’s services to the respective potential client, our fees generally range from .25% to
2.00% of the assets under management (“AUM”), based upon a number of factors, including the
size of the portfolio, services requested, and portfolio assets. In addition, we charge an annual
maintenance fee of $180.00 to $200.00 per account. Lower fees for comparable services may be
available from other sources.

The Advisory Fee will be payable quarterly in arrears and will be based on the average quarterly
net asset value of the Securities under management in the Account. The Advisory Fee for the initial
quarterly period and the final quarter shall be prorated based on the current value of the Account.
The current value is reflected as of the last day of each month within the respective quarter, divided
by the number of months in that quarter. The term "quarterly," as used herein, shall represent fiscal
three-month periods, commencing on January 1st, April 1st, July 1st, and October 1st of each year.

Each time a fee is directly deducted from a client account, Monex Asset Management will
concurrently notify the qualified custodian of the amount of the fee to be deducted from the client’s
account and will send the client an invoice or statement itemizing the fee. Such itemization will
include the formula used to calculate the fee, the value of the assets under management on which
the fee is based, and the time period covered by the fee.

With respect to employee-related accounts, the quarterly fees are generally less. Additionally,
Monex Asset Management may charge less for certain client accounts, depending on a number of
factors, including portfolio size, length of employment, and the relationship to the employee.
To the extent mutual funds are selected to fill components of the overall investment strategy, the
annual advisory fee set forth above does not include the customary fees and expenses associated

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with investing in mutual funds or other costs of establishing and maintaining an account with
mutual funds, including Rule 12b-1 fees and expenses.

        Sub-Advisory Relationship Fee
        Monex Asset Management utilizes Xendia Wealth LLC d/b/a Xendia (formerly known as
BCP Advisors LLC d/b/a BCP Global) (“Xendia Wealth”) as a sub-advisor for certain clients.
Clients utilizing Xendia Wealth will pay Xendia Wealth an advisory fee, a tiered fee ranging from
1.05% to 1.75% of the portfolio assets managed by Xendia Wealth, pursuant to the schedule below
(the “Xendia Advisory Fee”). The Xendia Advisory Fee is paid monthly in arrears, and will be
split by Monex Asset Management and Xendia Wealth, with Xendia Wealth being entitled to the
percentage of the Xendia Advisory Fee set forth below as the Xendia Wealth Fee:

Assets Under Management               Xendia Advisory Fee              Xendia Wealth Fee
From $0        to $100,000                  1.75%                          0.18%
From $101,001 to $250,000                   1.65%                          0.15%
From $250,001 to $500,000                   1.50%                          0.13%
From $500,001 to $1,000,000                 1.25%                          0.12%
From $1,00,001 and up                       1.05%                          0.10%

Xendia Wealth charges a fixed flat fee of 0.95% per annum for Clients who choose the Treasury
Bill (“T-Bill”) Strategy.

        Additional Types of Fees, Expenses, and Compensation
        We are affiliated through common ownership with Monex Securities, Inc. (“Monex
Securities”), who is registered as a broker-dealer with the SEC and various state jurisdictions, and
a member firm of the Financial Industry Regulatory Authority (“FINRA”). Monex Securities
introduces its customers to Pershing, LLC (“Pershing”) on a fully disclosed basis, which is
generally the qualified custodian for our non-internet-based advisory accounts. Due to the business
relationship between Pershing and Monex Securities, Pershing shares a portion of certain
transaction costs and fees you pay to Pershing with Monex Securities. The compensation Monex
Securities receives in connection with certain transactions and services is an additional source of
revenue for our affiliate, and defrays the consolidated costs associated with maintaining and
servicing client accounts. However, it presents a conflict of interest because Monex Asset
Management has a greater incentive to make available, recommend, or make investment decisions
regarding investments and services that provide additional compensation to our affiliate than those
that do not.

In general, these revenue sources include a percentage or portion of fees and transaction charges
collected by Pershing, and shared with our affiliate, Monex Securities, including:

      •    Account transfer fees.
      •    Margin interest charges.

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      •    IRA fees.
      •    Inactivity fees.
      •    Money market and sweep account interest.
      •    Other Fees
      •    Other miscellaneous charges.
Additional details are provided below:
      •    Account Transfer Charges: You can be assessed transfer charges on account
           transactions and other miscellaneous charges by Pershing on account transactions.
      •    Margin Interest Charges: To the extent margin is available, such accounts must meet
...

Item 7 - Types of Clients
We offer portfolio management investment advice to the following types of clients:

   •   Individuals

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   •   High net worth individuals
   •   Corporations
   •   Trusts
   •   Estates
   •   Charitable and Not-for-Profit Organizations

Account Requirements
Monex Asset Management generally requires clients’ managed assets to consist initially of cash
and securities with a minimum asset value (as valued by Advisor) of no less than $300,000 unless
Monex Asset Management, in its sole discretion, agrees to accept a client's managed assets with a
lesser value.