Sundowner Capital Management LLC

Item 5      Fees and Compensation
                            INVESTMENT SUPERVISORY SERVICES ("ISS")
                            INDIVIDUAL PORTFOLIO MANAGEMENT FEES
The annualized fee for Investment Supervisory Services is charged as a percentage of assets under
management, according to the following schedule:
       The first Million Dollars is 1.00% of assets under management
       The next Two Million Dollars is 0.90% of assets under management
       The next Two Million Dollars is 0.85% of assets under management
       The next Two Million Dollars is 0.75% of assets under management
       The next Three Million Dollars is 0.65% of assets under management
       Above Ten Million Dollars is 0.50% of assets under management

Our fees are billed quarterly, in advance, at the beginning of each calendar quarter based upon the
value (market value or fair market value in the absence of market value), of the client's account at the
end of the previous quarter. Fees will be debited from the account in accordance with the client
authorization in the Client Advisory Agreement. Fee debits will be reflected on the broker-dealer
statement.
Limited Negotiability of Advisory Fees: Although Sundowner Capital Management LLC has
established the aforementioned fee schedule, we retain the discretion to negotiate alternative fees on a
client-by-client basis. Client facts, circumstances and needs are considered in determining the fee
schedule. These include the complexity of the client, assets to be placed under management, anticipated
future additional assets, related accounts, portfolio style, account composition, and reports, among
other factors. The specific annual fee schedule is identified in the contract between the adviser and
each client.
We may group certain related client accounts for the purposes of achieving the minimum account size
requirements and determining the annualized fee. Sundowner reserves the right to negotiate minimum
account requirements on a client-by-client basis. Therefore, our firm's minimum account requirements
will differ among clients.
Discounts may be offered to family members and friends of associated persons of our firm.
                                     GENERAL INFORMATION
Termination of the Advisory Relationship: A client agreement may be terminated at any time, by
either party, for any reason upon receipt of written notice. As disclosed above, certain fees are paid in
advance of services provided. A pro rata refund to the Client of any paid-in-advance fee will be made
promptly upon termination. In calculating a client’s reimbursement of fees, we will pro rate the
reimbursement according to the number of days remaining in the billing period.
Mutual Fund Fees: All fees paid to Sundowner Capital Management LLC for investment advisory
services are separate and distinct from the fees and expenses charged by mutual funds and/or ETFs to
their shareholders. These fees and expenses are described in each fund's prospectus. These fees will
generally include a management fee, other fund expenses, and a possible distribution fee. A client
could invest in a mutual fund directly, without our services. In that case, the client would not receive
the services provided by our firm which are designed, among other things, to assist the client in
determining which mutual fund or funds are most appropriate to each client's financial condition and

objectives. Accordingly, the client should review both the fees charged by the funds and our fees to
fully understand the total amount of fees to be paid by the client and to thereby evaluate the advisory
services being provided.
Wrap Fee Programs and Separately Managed Account Fees: Currently Sundowner does not engage
in a wrap fee program. Clients participating in separately managed account programs may be charged
various program fees in addition to the advisory fee charged by our firm. Such fees may include the
investment advisory fees of the independent advisers. We will review with clients any separate
program fees that may be charged.
Additional Fees and Expenses: In addition to our advisory fees, clients are also responsible for the
fees and expenses charged by custodians and imposed by broker- dealers, including, but not limited to,
any transaction charges imposed by a broker-dealer with which an independent investment manager
effects transactions for the client's account(s). Please refer to the "Brokerage Practices" section (Item
12) of this Form ADV for additional information.
Grandfathering of Minimum Account Requirements: Pre-existing advisory clients are subject to
Sundowner Capital Management LLC's minimum account requirements and advisory fees in effect at
the time the client entered into the advisory relationship. Therefore, our firm's minimum account
requirements will differ among clients.
ERISA Accounts: Sundowner Capital Management LLC is deemed to be a fiduciary to advisory clients
that are employee benefit plans or individual retirement accounts (IRAs) pursuant to the Employee
Retirement Income and Securities Act ("ERISA"), and regulations under the Internal Revenue Code of
1986 (the "Code"), respectively. As such, our firm is subject to specific duties and obligations under
ERISA and the Internal Revenue Code that include among other things, restrictions concerning certain
forms of compensation. To avoid engaging in prohibited transactions, Sundowner Capital Management
LLC may only charge fees for investment advice about products for which our firm and/or our related
persons do not receive any commissions or 12b-1 fees.
Advisory Fees in General: Clients should note that similar advisory services may (or may not) be
available from other registered investment advisers for similar or lower fees.
Limited Prepayment of Fees: Under no circumstances do we require or solicit payment of fees in
excess of $500 more than six months in advance.

Item 7      Types of Clients
Sundowner Capital Management LLC provides advisory services to the following types of clients:
• Individuals (other than high net worth individuals)
• High net worth individuals
• Charitable organization
• Minimum asset requirement of $300,000.