UCAP Asset Management LLC

Item 5 – Fees and Compensation

FEES FOR INVESTMENT ADVICE

UCAP provides investment management services for an annual fee based upon a percentage of the
market value of the assets being managed by UCAP.

These fees are negotiable at the sole discretion of the Firm or representative, but annual fees shall
not exceed 2% of the assets under the Firm's management. Some representatives use a tiered fee
schedule; others charge a flat percentage applied to all assets under management. The fee to be
charged to each client will be stipulated within each client’s advisory agreement with UCAP and
applies to all of the assets within the portfolio or household (as defined in the agreement).

Fees are billed 4 times a year for each quarter of the year. The fees are calculated each month based
on the AUMs of the last day of the month. UCAP calculation uses the annual fee percentage
divided by 365 days times the days of the month and the AUM of the last day of the month. The

fee calculation process is repeated every month. At the end of each quarter, the fees calculated for
each month are added together to determine the total fee to be billed to the client. The fee is then
billed in the month following the end of the quarter. Note that the quarters are: January to March,
April to June, July to September, and October to December. Fees for the first quarter are billed in
April, fees for the second quarter are billed in July, fees for the third quarter are billed in October,
and fees for the fourth quarter are billed in January.

In some instances, fees are billed quarterly in arrears. The applicable annual fee percentage is
divided by four, and then multiplied by the asset value on the last day of the prior quarter. (Some
existing clients are charged in advance; the firm is no longer offering this billing option to new
clients. For clients who are charged in advance, the applicable annual percentage fee is divided by
four and then multiplied by the total market value of the assets on the last day of the prior quarter.)

Clients generally authorize UCAP and/or sub-advisors to debit the client's account for the amount
of their advisory fees and to remit that fee directly to UCAP and/or the sub-advisors. Clients may
elect to be billed separately. All qualified custodians recommended by UCAP have agreed to send
a statement to the client, at least quarterly, indicating all amounts disbursed from the account
including the management fees paid directly to UCAP or any sub-advisor.

Clients whose accounts are maintained with Charles Schwab will incur a $25 ticket charge for
certain transactions in mutual funds, which is imposed and collected by the clearing broker.

Clients who custody their assets at StoneX Financial Inc., via the introduction of the Adviser’s
affiliate, UCAP Securities, will pay a fixed ticket fee (clearing fee) of $15.00 per transaction. A
portion of this fee ($2.00) is charged by StoneX directly, and the remainder ($13.00) is retained
by UCAP Securities as an additional form of compensation to recover certain fees and costs
charged to it by StoneX. This fee is not negotiable, but some of UCAP Asset Management’s IARs
elect to pay this fee for their clients. This is a conflict of interest as an affiliate of the Adviser
(UCAP Securities) collects a portion of the transaction cost assessed to those advisory clients with
assets custodied at StoneX. The additional compensation to the affiliate and additional ticket cost
to the client would not be applicable to clients that do not custody their assets at StoneX.

FEES FOR FINANCIAL PLANNING SERVICES

Fees are negotiated between the representative and the client on a case-by-case basis. They are
charged on a fixed fee basis. Once determined, the fee arrangement is set forth in the Client
Agreement with UCAP.

Fees are typically determined by estimating the number of hours to be spent preparing the plan
and then quoting a fixed price. If additional work is requested (beyond the original scope of the
project), it may be billed on an hourly basis or a fixed price basis as negotiated. Fixed fees will be
invoiced monthly or quarterly depending upon the negotiated agreement with the client and the
anticipated delivery of the plan. Other limited planning services are billed monthly. In addition,
some or all of the financial planning fees may be included in the investment management fees
agreed upon by clients and their representative. Financial planning is not always billed separately.

Total costs for financial plans, whether per hour or on a fixed basis, may range from as little as
$500 to as much as $5,000 or more. There is no "typical" plan, as services are customized to the
particular needs of the client, so there is a wide range of fees that may be imposed. If a contract is
terminated prior to the service being completed, UCAP will bill for work completed. In the case
of prepayment of fees, the prorated refund will be based upon an hourly rate assigned to the
individuals who provided services.

GENERAL INFORMATION ON ADVISORY SERVICES AND FEES

Account Maintenance Fee. The Adviser’s affiliated broker-dealer, UCAP Securities, LLC
charges an annual account maintenance fee of $150.00 to all advisory accounts. This fee is not
included in the advisory fee rate established with the client and is an additional cost to the client
for the length the advisory relationship.
Fee Differentials.     Fees are typically set or negotiated by each representative, up to our
maximum fee set forth above (2%). As a result, any UCAP client could pay fees that are higher or
lower than the fees charged to other UCAP clients, based upon the market value of their assets,
the complexity of the engagement, and the level and scope of the overall investment advisory
and/or consulting services to be rendered. Further, the services to be provided by UCAP to any
particular client could be available from other advisers at lower fees. All clients and prospective
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Item 7 – Types of Clients

UCAP offers its advisory services to individuals, high net worth individuals, family offices,
pension and profit-sharing plans, trusts, corporations and other business entities. UCAP generally
seeks a minimum portfolio size of $1,000,000 for institutional clients and $100,000 for individuals.
UCAP may, in its sole discretion, accept clients with smaller portfolios or may aggregate the
portfolios of related clients to meet the minimum portfolio size. In addition, UCAP may raise,
waive or modify its account requirements to accommodate those of sub-advisors.