Camelot Funds LLC

Item 5:           Fees and Compensation

          A.      Fees Charged/ Fee Schedule:

          The Funds are authorized to pay the firm a management fee of 1.00%, based on the Fund’s average
          daily net assets. Investors in the Funds bear their proportionate share of each Fund’s fees and expenses,
          including their pro rata share of the management fees. Information regarding the Funds, including a
          description of the services provided by management and the fees charged for those services, is generally
          contained in each Mutual Fund’s prospectus. A prospectus may be obtained from the firm’s
          Compliance Officer.

          B.      Fee Payment

          Management fees will generally be debited directly from each Fund account. The Management fee is
          paid on a quarterly basis. Fees are calculated based on the value of the account(s) at the beginning (value
          at market close of prior billing period end) of each calendar quarter and are billed 1 quarter in advance.

          C.      Other Fees

          There are a number of other fees that can be associated with holding and investing in securities. Each
          shareholder will bear its proportionate share of and expenses, including operating expenses, sales
          charges imposed on purchases, brokerage costs, transaction fees for the purchase or sale of other
          securities, and including commissions for the purchase or sale of a stock.

          Please make sure to read Item 12 of this informational brochure, where we discuss broker-dealer and
          custodial issues.

          D.      Pro-rata Fees

          Due to the nature of the Funds, investors can commit to investing a specified amount into the Fund at
          any times. Investors are generally permitted to withdraw from a Fund or become an investor in a Fund
          at any time. Accordingly, if investors become clients during a billing period, they will pay management
          fees upon engaging Camelot Funds, based on the number of days left in the quarter. If an investor
          terminated our relationship during a billing period, you will be entitled to stop paying management fees
          the day the notice of termination is received. If the Funds terminate their relationship with us during a
          billing period, we will pro-rata the management fees based on the number of days left in the quarter.
          The Funds will be entitled to a refund of management fees for the remainder of the billing period. Once
          the Funds notice of termination is received, we will refund the unearned fees to the Fund in whatever
          way they direct (check, wire back to the account).

          E. Compensation for the Sale of Securities

          This item is not applicable, as neither Camelot Funds, nor any employee thereof receives any
          compensation for the sale of securities other than the investment advisory fees described elsewhere in
          this Item 5.

Item 7:           Types of Clients

          Camelot Funds generally provides advisory services to investment companies. Investors in these
          investment companies are individuals, pension and profit sharing plans, trusts, estates, charitable
          organizations, corporations and other business entities. There is no account minimum for Camelot
          Funds, but each Fund may have a minimum amount.