Main Management LLC

ITEM 5 – FEES AND COMPENSATION
  Fee Schedules, Payments & Options
  The maximum management fee retained by Main does not exceed 0.85% for SMA accounts that
  we manage directly, which are generally $2,000,000 or larger. This basic rate reflects the annual
  charges, which would generally apply for clients entering into Main Management’s customary
  investment advisory agreement. Given that Main Management’s services generally depend on a
  client’s individual and particular needs, the fees for such services may vary based on factors
  including, but not limited to, cumulative asset levels, relationships to existing clients and the nature
  of the account and the circumstances involved. Fees for direct SMA clients are exclusive of
  brokerage commissions, transaction fees and other fees and taxes that may be incurred by the
  client.

  For purposes of determining value, securities and other instruments traded on a market for which
  actual transaction prices are publicly reported are valued at the last reported sale price on the
  principal market in which they are traded. All other assets are valued at fair value by Main
  Management.

  Upon request and per agreement, Main Management provides for a fee (typically less than 0.50%)
  administrative related services, including but not limited to reporting and analysis in connection
  with non-discretionary assets held in client accounts, which are ancillary to investment advisory
  services provided.

  The fee includes the time and activities necessary to work with your attorney and/or accountant
  in reaching agreement on solutions, as well as assisting them in implementation of all appropriate
  documents. We are not responsible for attorney or account fees charged to you as a result of the
  above activities.

  Compensation for our services will be calculated in accordance with what is set in the client’s
  agreement. We may modify the terms of any agreement with at least 30 days prior written notice.

  Main Management fees are generally paid from a client’s account by the custodian when we
  submit an invoice to them. The invoice we submit shows the amount of fees, the value of assets
  on which the fees are based, and the specific manner in which the fees are calculated. If there is
  insufficient cash in a client’s account to pay the relevant fees, an equal balance of securities in
  portfolio may be sold to pay the fee. In addition to our fees, there may be custodial, mutual fund
  or similar third-party management fees and charges.

  In most circumstances Main Management fees are paid quarterly in arrears. Our fee is determined
  by taking the daily managed value of a client’s account multiplied by a daily rate. The managed
  ADV PART 2A BROCHURE                                                                              PAGE 8 OF 32

value is the sum of the values of all assets in the account, less unsupervised assets, and not adjusted
by any margin debit. The daily rate is calculated by dividing the annual fee percentage by the
number of days in the period. Thereafter the daily fees for the period are added to give you the
total management fee for the quarter. Fees for partial quarter at the commencement or
termination of our agreement will be billed or refunded on a pro-rated basis contingent on the
number of days the account was open during the quarter.

As deemed appropriate by Main Management pursuant to the firm’s duty to seek best execution,
Main Management may place orders with broker dealers other than the client account holder’s
custodian, known as step-out or trade away transactions. In such instances, broker-dealers will
impose commissions or mark-ups/mark downs on these orders, which are charged to the client’s
account. Depending on the custodian or type of trade, these commissions or mark-ups/mark-
downs may be netted into the price received for a security.

SMA Wrap Programs
Main Management’s clients who have SMA assets within a wrap fee program will typically have
either a “single contract” or “dual contract” arrangement.

Under a single contract arrangement the client pays an asset-based fee to the Sponsor Firm and,
out of that fee, the Sponsor Firm pays an investment advisory fee to Main Management. There
may be other non-asset based fees that will be charged to the client depending on the terms of the
Sponsor Firm’s program. Main Management’s fees may vary from program to program but do not
exceed 0.75% per year of the value of the client’s assets in the wrap fee program.

Under a dual contract arrangement, the client has one contract with the Sponsor Firm and another
contract with Main Management. As such the client pays Main Management an investment
advisory fee in addition to the asset-based fee they pay to the Sponsor Firm for investment advice,
custody, execution and reporting. Main Management ’s fees may vary from program to program
but do not exceed 0.75% per year of the value of the client’s assets in the wrap fee program.

Clients Invested in affiliated Exchange Traded Funds
Main Management’s affiliate, Main Management ETF Advisors, manages three Exchange Traded
Funds (“ETFs”), registered under the Investment Company Act of 1940, as amended. Main
Management’s clients may invest in the ETFs. The affiliated adviser receives management fees
from the ETF which are disclosed in the respective fund’s prospectus.

Main Management’s affiliate, Main Management Fund Advisors, manages an Exchange Traded
Fund, registered under the Investment Company Act of 1940, as amended. Main Management’s
clients may invest in this Exchange Traded Fund (“ETF”). The affiliated adviser receives
management fees from the ETF which are disclosed in the fund’s prospectus.
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In order to ensure that a direct SMA client does not pay more than once for investment advice
...

ITEM 7 – TYPES OF CLIENTS
   Main Management generally provides asset management services to the following types of clients:
       ▪ Individuals
       ▪ High-Net-Worth Individuals
       ▪ Pension and Profit-Sharing Plans
       ▪ Trusts
       ▪ Estates
       ▪ Charitable Organizations
       ▪ Corporations
       ▪ Family Groups
       ▪ Third-Party Investment Advisors & Broker-Dealers
       ▪ Private Funds

  Minimum Account Size
  Main Management has an SMA account minimum of $2,000,000. However, in certain conditions,
  we may decide to accept clients with smaller portfolios.

  For Wrap Fee or MDP programs the minimum account size and conditions vary from platform to
  platform, as specified by the Sponsor Firm.

  Main Management’s private funds have initial investment minimums of $500,000. However, in
  certain conditions, we may decide to accept investors with smaller portfolios.

  ADV PART 2A BROCHURE                                                                      PAGE 14 OF 32