Traub Capital Management LLC

Item 5 – Fees and Compensation
For separately managed accounts, the management fees are:
Portfolios Incorporating Individual Stocks
First $1,000,000
       Annual Fee = 1.00%
Next $1,000,000 to $5,000,000
       Annual Fee = .75%
Next $5,000,000 and over
       Annual Fee = .50%

Minimum annual fee is $4,000 (this translates to minimum account size of $400,000 at a
1% fee- clients may choose to hire us with less assets, but the minimum fee would apply)

Portfolios Utilizing Mutual Funds Only
First $1,000,000
       Annual Fee = 0.70%
Next $1,000,000 to $5,000,000
       Annual Fee = .50%
Next $5,000,000 and over
       Annual Fee = .30%

Minimum annual fee is $2,800 (this translates to minimum account size of $400,000 at a
0.7% fee- clients may choose to hire us with less assets, but the minimum fee would apply)

Fees for larger accounts are negotiable and we will sometimes waive the minimum fee
calculation.

The specific manner in which fees are charged by the adviser is established in a client’s
written agreement with Adviser. The Adviser will calculate fees monthly based on month-
end values but generally bill its fees on a quarterly basis in arrears. Clients may specifically
opt to elect to be billed directly for fees, but otherwise we will directly debit fees from
client accounts. Management fees shall not be prorated for each capital contribution and
withdrawal made during the applicable calendar month. Accounts initiated or terminated
during a calendar quarter will be charged a prorated fee. Upon termination of any account,
unpaid fees will be due and payable.

Our fees are exclusive of brokerage commissions, transaction fees, and other related costs
and expenses which may be incurred by the client. Clients may incur certain charges
imposed by custodians, brokers, third party investment and other third parties such as fees
charged by managers, custodial fees, transfer taxes, wire transfer and electronic fund fees,
and other fees and taxes on brokerage accounts and securities transactions. Mutual funds
and exchange traded funds also charge internal management fees, which are disclosed in a
fund’s prospectus. We work to minimize these costs and for the most part trade at low
electronic commission rates and in most cases can trade at zero commissions. Such
charges, fees and commissions are exclusive of and in addition to our fee, and we shall not
receive any portion of these commissions, fees, and costs. We do not receive any
compensation or commissions for a given account beyond the management fee.

Item 12 further describes the factors that we consider in selecting or recommending
broker-dealers for client transactions and determining the reasonableness of their
compensation (e.g., commissions).

Item 7 – Types of Clients
TCM provides portfolio management services to individuals, high net worth individuals,
corporate retirement and profit-sharing plans, and trusts. As noted in Item 5, the effective
minimum account size is $400,000.