Robert L Bender Inc DBA Robert Bender & Associates

Item 5 – Fees and Compensation

A.     Fee Schedule
ASSET MANAGEMENT
RBA offers asset management services to advisory Clients. RBA charges an annual investment
advisory fee based on the total assets under management as follows:

              Assets Under Management                              Annual Fee

                       All Assets                                 0.50 – 1.50%

Fees are billed quarterly in advance based on the amount of assets managed as of the close of
business on the last business day of the previous billing period. Lastly, please note that RBA may
group certain related Client accounts, often known as “householding”, for the purposes of achieving
the minimum account size and determining the annualized fee.

B.     Payment of Fees
Asset Management Fees are generally deducted directly from the Client’s Account.

RBA, in its sole discretion, may charge a lesser investment advisory fee based upon certain criteria
(e.g., historical relationship, type of assets, anticipated future earning capacity, anticipated future
additional assets, dollar amounts of assets to be managed, related accounts, account composition,
negotiations with Clients, etc.).

For all services, Clients may terminate their engagement with RBA within five (5) business days of
signing an Agreement with no obligation and without penalty. After the initial five (5) business days,
the Agreement may be terminated by RBA with thirty (30) days written notice to Client and by the
Client at any time with written notice to RBA. For accounts opened or closed mid-billing period, fees
will be prorated based on the days services are provided during the given period. All unpaid earned
fees will be due to RBA and all unearned fees will be refunded to the Client. Any increase in fees will
be acknowledged in writing by both parties before any increase in said fees occurs.

C.     Additional Fees
Custodians may charge brokerage commissions, transaction fees, and other related costs on the
purchases or sales of mutual funds, equities, bonds, options, margin interest, and exchange-traded
funds. Mutual funds, money market funds, and exchange-traded funds may also charge internal
management fees, which are disclosed in the fund’s prospectus. RBA does not directly receive any

compensation from these fees. All of these fees are in addition to the management fee you pay to
RBA. For more details on the brokerage practices, see Item 12 of this brochure.

D.     Prepayment of Fees
Asset management fees are due quarterly, and in advance.

E.    External Compensation for the Sale of Securities
RBA does not receive any external compensation from the sale of securities.

Item 7 – Types of Clients & Account Minimums

RBA’s Clients are generally individuals, small businesses, trusts, estates, high net-worth individuals,
pooled investment vehicles, and charities. Client relationships vary in scope and length of service.

There is no minimum account size and Clients are not required to have a certain amount of
investment experience or sophistication.