PF Advisors LLC

Item 5: Fees and Compensation
PF Advisors is a “Fee-Only” investment advisory firm and receives compensation based on the type of advisory
services performed. PF Advisors reserves the right to negotiate fees and compensation with its clients.
Negotiated fees between PF Advisors and the client will supersede PF Advisors’ existing fee structure. The PF
Advisors investment advisory contract can be terminated by the client within five (5) business days of the
signing of the investment advisory contract and the client will not be responsible for advisory fees incurred
during that time. Please review the fee and compensation information below.

Lower fees for comparable services may be available from other sources.

Investment Management Fee Structure
Unless negotiated otherwise, PF Advisors advisory fees are charged in arrears and are based on the market
value of the assets under management and calculated as follows:

                                Account Value                Annual Advisory Fee
                              First $2,500,000.00                    1.00%
                             Next $7,500,000.00                      0.75%
                             Over $10,000,000.00                  Negotiated

Negotiated Fees
PF Advisors may negotiate advisory fees with clients that have in excess of $10,000,000.00 in assets under
management with PF Advisors. These fees are negotiated between PF Advisors and the client and agreed upon
in writing by both parties. Negotiated fees may involve the client paying advisory fees to PF Advisors in
advance and/or in arrears.

Fee Billing
PF Advisors’ investment advisory fees are billed quarterly, in arrears based on the average daily balance of the
accounts managed by PF Advisors. PF Advisors will send an invoice to clients based on the aggregated amount
of all accounts managed by PF Advisors. Clients have the option of paying the fee directly to PF Advisors. If
payment is not received by the end of the month in which the invoice is sent, PF Advisors has the consent and
authority to deduct the fee due directly from the client’s account.

Other Fees and Expenses
PF Advisors does not charge additional fees other than the Investment Advisory Fees charged.
PF Advisors does not receive or share any additional fees or expenses incurred by advisory clients.
PF Advisors may charge negotiated fees that may differ from the above fee structure.
PF Advisors clients will incur brokerage and other transaction costs by the custodian. PF Advisors does not
receive or share in these fees; see Item 12 for additional information.

Item 7: Types of Clients
PF Advisors clients can include: individuals, high net worth individuals, business entities, trusts, estates,
charitable organizations, and qualified plans. PF Advisors does not require an annual minimum fee or asset
level for investment advisory or investment planning services.