Riverglades Family Offices LLC

Item 5: Fees and Compensation

A. Fee Schedule

Asset-Based Fees for Portfolio Management

           Total Assets Under Management                 Annual Fee

                   $0 - $5,000,000                          1.25%

              $5,000,001 - $10,000,000                      0.80%

              $10,000,001 - $15,000,000                     0.75%

              $15,000,001 - $25,000,000                     0.70%

              $25,000,001 - $50,000,000                     0.65%
                                                 Negotiated Flat Fee or % of
                 Over $50,000,000
                                                           AUM

These fees are generally negotiable and the final fee schedule is attached as Exhibit II of
the Investment Advisory Contract. Client relationships in excess of $50 million are eligible
to elect a flat annual fee subject to negotiation based on factors including but not limited
to overall complexity of the client’s affairs, the services requested, and the number of
entities involved. Clients subject to the flat fee rate may be billed quarterly, annually or
monthly in arrears as agreed to by the client. Clients may terminate the agreement without
penalty for a full refund of RiverGlades' fees within five business days of signing the
Investment Advisory Contract. Thereafter, clients may terminate the Investment
Advisory Contract generally with 10 days' written notice.

RiverGlades bills based on the balance on the last day of the billing period.

External Chief Investment Officer Fees

RiverGlades will work with registered investment adviser firms and Family Offices as
an external CIO. Each engagement is custom designed based on the needs of the client
and the scope of the project. RiverGlades may charge a fixed fee or a fee based on assets
under management dependent on the nature of the relationship and client’s preference.
Payment of the annual fee would be made in monthly or quarterly installments in
arrears. Initial fees will be pro-rated for partial quarters and upon termination fees will
be charged for the number of days under management in that quarter. Thirty days
advance notification for termination of services is required.

Consulting Engagement Fees

RiverGlades will typically charge a negotiable flat fee for the project. Each project is
negotiated individually based on the complexity of the engagement and all fees will be
detailed in the consulting agreement.

Selection of Other Advisers Fees

RiverGlades may direct clients to third party money managers or sub-advisers.
RiverGlades will be compensated via its own advisory contract and will not share fees
from the advisors to which it directs those clients or sub-advisers it hires. The fees charged
to the client will be a combination of RiverGlades’ advisory contract and the outside
manager’s contract with the client or a separate debiting of fees between RiverGlades and
the sub-adviser in the client’s account.

Before selecting other advisors for clients, RiverGlades will always ensure those other
advisors are properly licensed or registered as an investment advisor.

B. Payment of Fees

Payment of Asset-Based Portfolio Management Fees

Asset-based portfolio management fees are withdrawn directly from the client's accounts
with client's written authorization on a monthly basis. Fees are paid in arrears.

Any deposits received during a month in excess of 10% of account value will be pro-rated
for the appropriate amount of time under management.

Payment of Selection of Other Advisers Fees

The timing, frequency, and method of paying fees for selection of third-party managers
will depend on the specific third-party adviser selected and will be disclosed to the client
prior to entering into a relationship with the third-party advisor.

C. Client Responsibility For Third Party Fees

Clients are responsible for the payment of all third party fees (i.e. custodian fees,
brokerage fees, mutual fund fees, transaction fees, etc.). Those fees are separate and
distinct from the fees and expenses charged by RiverGlades. Please see Item 12 of this
brochure regarding broker-dealer/custodian.

D. Prepayment of Fees

RiverGlades collects fees in arrears. If a client terminates the agreement mid-month, the
client will be charged the pro rata portion of the month for which services were provided.

       E. Outside Compensation For the Sale of Securities to Clients

       Neither RiverGlades nor its supervised persons accept any compensation for the sale of
       securities or other investment products, including asset-based sales charges or service fees
       from the sale of mutual funds.

Item 7: Types of Clients

RiverGlades generally provides advisory services to the following types of clients:

           ❖   High-Net-Worth Individuals
           ❖   Families with Multi-Generational Wealth
           ❖   Charitable Organizations
           ❖   Corporations

There is no account minimum for any of RiverGlades’ services.