Frank Capital Partners LLC

Item 5: Fees and Compensation

How We are Paid
FCP is paid a percentage of the assets under management. For Frank Value Fund and
Frank Value Fund SP, the fee is computed and billed to clients monthly in arrears. For
separate account clients, the fee is computed and billed to clients quarterly in arrears.
FCP also receives compensation for providing administrative and/or compliance services
to, among others, Frank Value Fund, Frank Value Fund SP, and Camelot Event-Driven
Fund.

Fee Schedule
FCP generally charges clients an annual fee of 0.91% assets, although it has discretion to
charge lower rates for certain accounts. Clients may also be charged fees for brokerage,
custody, margin interest, and other services by banks and broker-dealers, although FCP
does not receive or collect any of these fees.

Item 6: Performance Fees and Side-by-Side Management
FCP may charge performance fees on any of its client accounts.

Item 7: Types of Clients
FCP manages investment companies and separately managed accounts for individuals
and trusts. FCP does not impose a minimum account size.

Frank Capital Partners LLC – 781 Crandon Blvd. Unit 602, Key Biscayne, FL 33149          3