Stephen J Garry & Associates LLC

Item 5 – Fees and Compensation
The following paragraphs detail the fee structure and compensation methodology for services provided by the
Advisor. Each Client engaging the Advisor for services described herein shall be required to enter into a written
agreement with the Advisor.

A. Fees for Advisory Services
Investment Management Services
Investment advisory fees are paid quarterly, in advance of each calendar quarter, pursuant to the terms of the
investment advisory agreement. Investment advisory fees are based on the market value of assets under
management at the end of the prior calendar quarter. Investment advisory fees are based on the following
schedule:

                  Assets Under Management ($)                Annual Rate (%)
                    Under to $500,000                              1.50%
                    $500,001 to $1,500,000                         1.25%
                    Over to $1,500,000                             1.00%

The investment advisory fee in the first quarter of service is prorated from the inception date of the account[s] to the
end of the first quarter. Fees may be negotiable at the sole discretion of the Advisor. The Client’s fees will take into
consideration the aggregate assets under management with the Advisor. All securities held in accounts managed
by Stephen J. Garry & Associates will be independently valued by the Custodian. The Advisor will conduct periodic
reviews of the Custodian’s valuation to ensure accurate billing.

                                            Stephen J. Garry & Associates, LLC
                                      990 Stewart Ave, Suite 190, Garden City, NY 11530
                                        Phone: (516) 280-5588 * Fax: (516) 280-5586
                                           http://www.stephengarrywealthmgmt.com

B. Fee Billing
Investment Management Services
Investment advisory fees are calculated by the Advisor or its delegate and deducted from the Client’s account[s] at
the Custodian. Certain Clients may have their fees directly invoiced to the Client. The Advisor shall send an invoice
to the Custodian indicating the amount of the fees to be deducted from the Client’s account[s] at the beginning of
the respective quarter. The amount due is calculated by applying the quarterly rate (annual rate divided by 4) to the
total assets under management with Stephen J. Garry & Associates at the end of each quarter. Clients will be
provided with a statement, at least quarterly, from the Custodian reflecting deduction of the investment advisory fee.
In addition, the Advisor will provide the Client a report itemizing the fee, including the calculation period covered by
the fee, the account value and the methodology used to calculate the fee. It is the responsibility of the Client to
verify the accuracy of these fees as listed on the Custodian’s brokerage statement as the Custodian does not
assume this responsibility. Clients provide written authorization permitting advisory fees to be deducted by Stephen
J. Garry & Associates directly from their account[s] held by the Custodian as part of the investment advisory
agreement and separate account forms provided by the Custodian.

C. Other Fees and Expenses
Clients may incur certain fees or charges imposed by third parties in connection with investments made on behalf
of the Client’s account[s]. Stephen J. Garry & Associates includes Covered Costs as part of its overall investment
advisory fee through the Stephen J. Garry & Associates Wrap Fee Program Brochure. Securities transaction fees
for Client-directed trades may be charged back to the Client. Please see Item 4.D. above as well as Appendix 1 –
Wrap Fee Program Brochure.

In addition, all fees paid to Stephen J. Garry & Associates for investment advisory services or part of the Stephen
J. Garry & Associates Wrap Fee Program Brochure are separate and distinct from the expenses charged by
mutual funds and ETFs to their shareholders, if applicable. These fees and expenses are described in each
fund’s prospectus. These fees and expenses will generally be used to pay management fees for the funds, other
fund expenses, account administration (e.g., custody, brokerage and account reporting), and a possible
distribution fee. A Client may be able to invest in these products directly, without the services of Stephen J. Garry
& Associates, but would not receive the services provided by Stephen J. Garry & Associates which are designed,
among other things, to assist the Client in determining which products or services are most appropriate for each
Client’s financial situation and objectives. Accordingly, the Client should review both the fees charged by the
fund[s] and the fees charged by Stephen J. Garry & Associates to fully understand the total fees to be paid.
Please refer to Item 12 – Brokerage Practices for additional information.

D. Advance Payment of Fees and Termination
Stephen J. Garry & Associates is compensated for its services in advance of the quarter in which investment
advisory services are rendered. Either party may terminate the investment advisory agreement by providing
advance written notice to the other party. The Client may also terminate the investment advisory agreement within
five (5) business days of signing the Advisor’s agreement at no cost to the Client. After the five-day period, the
Client will incur charges for bona fide advisory services rendered to the point of termination and such fees will be
due and payable by the Client. The Advisor will refund any unearned, prepaid investment advisory fees from the
effective date of termination to the end of the quarter. The Client’s investment advisory agreement with the Advisor
is non-transferable without the Client’s prior consent.

E. Compensation for Sales of Securities
Stephen J. Garry & Associates does not buy or sell securities and does not receive any compensation for
...

Item 7 – Types of Clients
Stephen J. Garry & Associates offers investment advisory services to individuals, high net worth individuals, and
charitable organizations. The amount of each type of Client is available on Stephen J. Garry & Associates’ Form
ADV Part 1A. These amounts may change over time and are updated at least annually by the Advisor. Stephen
J. Garry & Associates generally does not impose a minimum relationship size.