Tone Capital LLC

Item 5: Fees and Compensation

A. Fee Schedule

Portfolio Management Fees

                Total Assets Under
                                                          Annual Fees
                Management
                All Assets                                Up to 1.25%

Tone Capital uses the custodial value of the account as of the last business day of the billing period, after
taking into account deposits and withdrawals, for purposes of determining the market value of the assets
upon which the advisory fee is based.

Tone Capital may trade client accounts on margin. Each client must sign a separate margin agreement
with the Custodian before margin is extended to that client account. Fees for advice and execution on
these securities are based on the total asset value of the account, which includes the value of the securities
purchased on margin. While a negative amount may be shown on a client's statement for the margined
security as the result of a lower net market value, the amount of the fee is based on the absolute market
value. This creates a conflict of interest where we have an incentive to encourage the use of margin to
create a higher market value and therefore receive a higher fee. The use of margin may also result in
interest charges in addition to all other fees and expenses associated with the security involved.

These fees are generally negotiable, and the final fee schedule is attached as Exhibit II of the Investment
Advisory Contract. Clients may terminate the agreement without penalty for a full refund of Tone
Capital's fees within five business days of signing the Investment Advisory Contract. Thereafter, clients
may terminate the Investment Advisory Contract immediately upon written notice.

Financial Planning Fees
Tone Capital either uses a flat fee (which may be one time, or recurring), an hourly fee (based on an
hourly rate for such services). Hourly fees range from $100 per hour to $250 per hour, and flat fee
engagements will range from $500 to $5,000, depending on the complexity of the financial planning
services. The client is required to pay up to 50% upon acceptance the Financial Planning engagement and
the balance upon completion of the engagement deliverables. Tone Capital does not collect fees of $500
or more for any services that will be provided six (6) months or more in advance.

These fees are generally negotiable, and the final fee schedule is included in the Financial Planning
Services Agreement.

Launchpad
Our annual fee for the Launchpad program is an asset-based fee of up to 0.70%, which is shared between
our firm and Betterment. This fee will be prorated and billed on a quarterly basis in arrears, based on a
client’s average daily account balance for the prior quarter multiplied by .0.18% (0.70% ÷ 4). Betterment’s
share of the fee includes all of the services provided by Betterment and Betterment Securities through
their platform, including advisory services, custody of assets, execution and clearing of transactions, and
account reporting. Betterment collects fees directly from our clients pursuant to the terms of the sub-
advisory agreement between Betterment and each client. Clients utilizing the platform may pay a higher
aggregate fee than if the advisory, custodial, trade execution, and other services were purchased
separately. We also pay a fixed monthly fee to Betterment. Betterment will collect both its and our fee
from each client and remit your portion of the fee directly to us. Additional information regarding
Betterment’s fees and compensation is described in Betterment’s Wrap Fee Brochure.

Global Balanced Strategy
Our annual fee for the Global Balanced Strategy is an asset-based fee of up to 0.35%, which is in addition
to our negotiated standard fee identified above. This fee will be prorated and billed on a quarterly basis
in arrears, based on a client’s average daily account balance for the prior quarter multiplied by .0875%
(0.35% ÷ 4).

B. Payment of Fees

Payment of Portfolio Management Fees
For client accounts custodied at Interactive Brokers LLC, asset-based portfolio management fees are
withdrawn directly from the client's accounts with client's written authorization on a quarterly basis.
Fees are paid in arrears.

For Non-IB Accounts, client may either choose to pay Tone Capital directly for billed fees, or if such client
also maintains an account at Interactive Brokers LLC advised by Tone Capital, where fees can be
deducted, the client may choose to have fees for the Non-IB Account(s) deducted directly from an
Interactive Brokers LLC custodied account.

Financial Planning Fees
Financial Planning fees are typically paid directly by the client to Tone Capital.

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, third party “product fees”, etc.). Those fees are separate and distinct from the
fees and expenses charged by Tone Capital.

Certain third party “product fees” which are directly attributable to specific client accounts may be billed
to Tone Capital and will be passed through to the client (at cost). Tone Capital does not receive additional
compensation related to such third-party product fees.

Please see Item 12 of this brochure regarding broker-dealer/custodian.

D. Prepayment of Fees

Tone Capital collects Portfolio Management fees in arrears. It does not collect fees in advance.

The client is required to pay up to 50% of the agreed fee upon acceptance of a Financial Planning
engagement and the balance upon completion of the engagement deliverables. Tone Capital does not
collect fees of $500 or more for any services that will be provided six (6) months or more in advance. The
client may terminate a Financial Planning engagement at any time by providing advance written notice
...

Item 7: Types of Clients

Tone Capital generally provides advisory services to the following types of clients:

   ❖       Individuals
   ❖       High-Net-Worth Individuals
   ❖       Institutions

There is no account minimum for any of Tone Capital’s services.