Keenan LLC

Item 5: Fees and Compensation

A. Fee Schedule

Portfolio Management Fees

      Total Assets Under Management           Maximum Annual Fee
      MangeManagManagement
               All Assets                               Up to 2.00%

Keenan uses the 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.

These fees are generally negotiable. Fees may differ based on a number of factors:
   • Size of the relationship – Larger accounts may receive more favorable pricing.
   • Accounts within the same household may be combined for a reduced fee.
   • Our employees and their family related accounts are charged a reduced fee for
       services.
   • Level of services needed – Accounts requesting more services may have higher
       fees.

The final fee schedule is attached as Exhibit I of the Investment Advisory Contract.

Clients may terminate the agreement without penalty for a full refund of Keenan's fees
within five business days of signing the Investment Advisory Contract. Thereafter, clients
may terminate the Investment Advisory Contract generally with 7 days' written notice.

Financial Planning Fees

The fixed rate for creating client financial plans is between $250 and $5,000.

Fees depend on the complexity, nature and time required to gather and analyze relevant
information. As plans become more complex, require additional expertise, cover multiple
topics, they take more time to complete and may require additional hours.

Clients may terminate the agreement without penalty, for full refund of Keenan’s fees,
within five business days of signing the Financial Planning Agreement. Thereafter, clients
may terminate the Financial Planning Agreement generally upon written notice.

Tax Preparation Services

The fixed rate for tax preparation is between $250 and $2,500. These fees are generally
negotiable, and the final fee schedule is included in the Tax Engagement Letter. Clients may
terminate the agreement without penalty for a full refund of Keenan's fees within five
business days of signing the Tax Engagement Letter. Thereafter, clients may terminate the
Engagement generally with 7 days' written notice.

B. Payment of Fees

  Payment of Portfolio Management Fees

  Asset-based portfolio management fees are withdrawn directly from the client's accounts
  with client's written authorization on a quarterly basis or may be invoiced and billed
  directly to the client on a quarterly basis. Clients may select the method in which they are
  billed. Fees are paid in arrears via cash, check or wire.

  Payment of Financial Planning Fees

  Financial planning fees are paid via check. Fixed financial planning fees are paid 100% in
  advance, but never more than six months in advance.

  Tax Preparation Fees

  Tax Preparation Fees are paid via check or credit card. Fixed Tax Preparation Fees are paid
  100% in advance, but never more than six months in advance.

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, etc.). Those fees are separate and distinct from the
  fees and expenses charged by Keenan. Please see Item 12 of this brochure regarding
  broker-dealer/custodian.

D. Prepayment of Fees

  Keenan collects certain fees in advance and certain fees in arrears, as indicated above.
  Refunds for fees paid in advance will be returned within fourteen days to the client via
  check.

  Fixed fees that are collected in advance will be refunded based on the prorated amount of
  work completed at the point of termination.

E. Outside Compensation For the Sale of Securities to Clients

  Keenan’s investment adviser representatives outside business activities (see Item 10
  below) are licensed to accept compensation for the sale of insurance products to Keenan
  clients. This presents a conflict of interest and gives the supervised person an incentive to
  recommend products based on the compensation received rather than on the client’s
  needs. When recommending the sale of securities or insurance products for which the
  supervised persons receive compensation, Keenan will document the conflict of interest in
  the client file and inform the client of the conflict of interest. Clients always have the right

       to decide whether to purchase Keenan -recommended products and, if purchasing, have
       the right to purchase those products through other brokers or agents that are not affiliated
       with Keenan.

       Commissions are not Keenan’s primary source of compensation for advisory services.
       Advisory fees that are charged to clients are not reduced to offset the commissions or
       markups on securities or insurance products recommended to clients.

Item 7: Types of Clients

Keenan generally provides advisory services to the following types of clients:

       ❖      Individuals
       ❖      High-Net-Worth Individuals
       ❖      Corporations

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