Second 50 Financial LLC

Item 5 – Fees and Compensation

A      A description of the fees we charge for advisory services is set forth in this Item 5. While we strive
       to treat all clients in a similar fashion with respect to advisory fees, the specific fees charged to
       individual clients may be customized based on their unique financial circumstances, complexity of
       investments and service needs, and other factors. Accordingly, certain clients may pay fees that are
       higher or lower (or otherwise materially different) than those described in this firm brochure.

       Fees for Portfolio Management Services. When you engage us for portfolio management services,
       you will pay Second 50 a customized annual asset-based advisory fee that is calculated as a
       percentage of the market value of your account. These fees typically range between 0.50% - 1.00%
       of the market value of the client’s account annually and may be structured either as part of a tiered
       fee schedule or as a flat fee rate charged across the entire market value of the client’s account.

       The specific fee rate and fee structure (e.g., either tiered fee schedule or flat rate) applicable to your
       account will be set forth in a written advisory agreement entered at the inception of our advisory
       relationship. Fees are payable to us quarterly in advance and are pro-rated for any partial billing
       periods (based on the number of days in the period during which services are provided) and for any
       mid-period capital inflows or outflows (based on the date of deposit or withdrawal). The advisory
       fee for the initial billing period shall be based upon the opening market value of your account as of
       the date funds are first deposited. Thereafter, such fees shall be based on the market value of your
       account as of the close of the prior billing period.

       For purposes of calculating these fees, we will typically rely upon the market value of your account
       (including cash balances) as determined by the custodian of your account. The custodian may use
       various pricing services such as Reuters or Standard & Poor’s to price securities held in your
       account. For actively traded securities, these services use the actual last reported sale price. For less
       actively traded securities such as bonds, these services will use the appropriate valuation
       methodology to determine the value of the security. In rare instances where a market-based price
       or other reliable pricing for a holding in your account is unavailable or the market value of an asset
       is otherwise difficult for us to determine (e.g., certain privately offered securities, thinly traded
       securities, etc.), alternative valuation procedures may be followed. We will alert you whenever this
       circumstance may arise and provide disclosure of the applicable valuation procedure. You should
       contact us with any questions or concerns about the valuation of any investments held in your
       account.

       Clients may make additions or withdrawals from their account at any time; however, clients should
       note that some or all of the investments in their account may be intended as long-term investments

    and withdrawals of cash and premature liquidations of securities positions may impair the
    achievement of your investment objectives.

    Fees Related to Alternative Investments. As referenced above in Item 4, depending on the client’s
    unique financial and tax circumstances and objectives, Second 50 may recommend investment in
    certain alternative investments, including, without limitation, domestic and foreign private equity,
    debt, venture capital, hedge fund, and/or commodity pool offerings (e.g., offerings made under
    Regulation D, Regulation A, or other offerings which are exempt from registration under the
    Securities Act of 1933, the Investment Company Act of 1940, and similar state laws), public non-
    traded offerings (e.g., S-1 offerings, intrastate offerings, business development companies, non-
    traded mutual funds, etc.), and private/non-publicly traded real estate investment trusts or
    investment funds (collectively, “Alternative Investments”)., Second 50 charges an annual asset-
    based management fee calculated as a percentage of the market value of Alternative Investments
    held by clients of up to 1.60% per year (“Alternative Investment Fee”). The specific Alternative
    Investment Fee to be applied will be described in a written advisory agreement entered with the
    client. For the avoidance of doubt, the Alternative Investment Fee is the sole advisory fee Second
    50 charges to clients with respect to their Alternative Investments. These fees are collected
    quarterly in arrears via direct fee deduction from an account designated by the client.

    Fees for Financial Planning and Consulting Services. When you engage us for financial planning
    and consulting services, you will pay Second 50 a subscription fee that is customized based upon
    our understanding of your unique financial circumstances and planning needs and our expectation
    of the time and resources necessary to provide you with the requested services. While most clients
    will be charged a subscription fee ranging between $7,000 to $10,000 per six month engagement,
    clients with more complex financial planning needs may pay a subscription fee of up to $20,000
    per engagement for these services. The specific subscription fee applicable to your financial
    planning and consulting services engagement will be set forth in a written financial planning
    agreement you will be required to enter prior to the commencement of our services. These fees are
    typically paid to Second 50 in advance, are invoiced to clients in paper or electronic format, and
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Item 7 – Types of Clients

We typically provide investment advice to individuals, high net worth individuals, partnerships,
corporations, and other business entities. Because each client is unique, they must be willing to be involved
in the planning and ongoing processes of our management of their assets. Such involvement does not have
to be time consuming, however we want our clients to remain informed and have a sense of security about
their investments.

We do not require any minimum fee or account size to open or maintain an account with our firm. However,
certain Independent Managers we recommend to clients may have minimum annual fee or minimum
account size requirements. Details of these requirements are disclosed in the disclosure brochure and
account opening documents of the Independent Manager.