LM Advisors LLC

Item 5 Fees and Compensation

         INVESTMENT SUPERVISORY SERVICES ("ISS") INDIVIDUAL PORTFOLIO
                                       MANAGEMENT FEES
Investment Supervisory Services & Fees: Clients may engage LM Advisors, LLC (“the Firm”) to
provide discretionary investment advisory services on a fee-only basis. Fees are defined in detail in the
Investment Advisory Agreement you signed with us. The Firm’s annual advisory fee is generally based
on a percentage of the market value of assets under management and is charged monthly in arrears,
unless otherwise stated in the Investment Advisory Agreement. The standard fee range for most
discretionary clients generally falls between 0.50% and 1.00% per annum on assets under management.
The fee rate applicable to a particular client is determined based on a variety of factors, including the
amount of assets under management and the types and amount of services provided to the client.

Limited Negotiability of Advisory Fees: The Firm retains discretion to negotiate fees on a client-by-
client basis. Factors influencing fee variations include the amount of assets under management, the
complexity of services required, the scope and frequency of meetings, related client accounts and asset
aggregation, anticipated future earning capacity and additional assets, and individual negotiations with
the client. The Firm may also group related client accounts to determine the applicable fee structure. In
certain cases, discounts may be offered to family members and friends of associated persons, though
such discounts are not generally available to all clients.

Non-Discretionary Advisory Services: The Firm also provides non-discretionary advisory services for
a flat fee, which is determined at the Firm’s discretion based on the nature and complexity of the services
provided.

Billing & Fee Payments: Fees for investment supervisory services are directly debited from client
accounts unless alternative arrangements are specified in the Investment Advisory Agreement. Clients
should be aware that similar services may be available from other firms at lower costs and are
encouraged to review fee structures accordingly.

GENERAL INFORMATION

Termination of the Advisory Relationship: An Investment Advisory Agreement may be canceled
at any time, by either party, for any reason upon receipt of written notice.

Mutual Fund Fees: All fees paid to LM Advisors, LLC for investment advisory services is separate
and distinct from the fees and expenses charged by mutual funds and/or ETFs to their shareholders.
These fees and expenses are described in each fund's prospectus. These fees will generally include
a management fee, other fund expenses, and a possible distribution fee. If the fund also imposes
sales charges, a client may pay an initial or deferred sales charge. A client could invest in a mutual
fund directly, without our services. In that case, the client would not receive the services provided by

our firm which are designed, among other things, to assist the client in determining which mutual fund
or funds are most appropriate to each client's financial condition and objectives.

Accordingly, the client should review both the fees charged by the funds and our fees to fully
understand the total amount of fees to be paid by the client and to thereby evaluate the advisory
services being provided.

Separately Managed Account Fees: When we select another investment adviser to manage a
portion of your assets you are charged a separate fee on those assets in addition to the advisory fee
charged by our firm. We review with clients any separate program fees that may be charged to
clients.

LMA Balanced Segregated Portfolio: Client accounts that are invested in the LMA Balanced
Segregated Portfolio are responsible for the fees and expenses charged to the LMA Balanced
Segregated Portfolio. The fee(s) are disclosed in the LMA Balanced Segregated Portfolio offering
documents that are provided to you at the time of investment. We do not charge a separate advisory
fee on client assets that are investment in the LMA Balanced Segregated Portfolio.

Additional Fees and Expenses: In addition to our advisory fees, clients are also responsible for the
fees and expenses charged by custodians and imposed by broker dealers, including, but not limited
to, any transaction charges imposed by a broker dealer with which an independent investment
manager affects transactions for the client's account(s). Please refer to the "Brokerage Practices"
section (Item 12) of this Form ADV for additional information.
Advisory Fees in General: Clients should note that similar advisory services may (or may not) be
available from other registered (or unregistered) investment advisers for similar or lower fees.

Item 7 Types of Clients

LM Advisors, LLC provides advisory services to the following types of clients:
Individuals (other than high net worth individuals)
High net worth individuals
Pooled investment vehicles

Pension and profit sharing plans (other than plan participants)
Charitable organizations
Insurance companies