Mas Advisors LLC

Item 5 –Fees and Compensation
The Firm derives all of its revenue from fees paid by Clients. The fees are negotiable.

Investment Advisory Fees
The Firm’s Fees for Investment Advisory Services are normally stated as a percentage of each Client’s
advised assets and portfolio composition and are available on a negotiated basis. The Firm charges asset-
based fees ranging between .25% to 2.00% per annum on the fair market value of the assets that it is
managing. For clients participating in one of MAS’ model portfolios, an asset-based fee is assessed and
typically ranges from .15% to .50% per annum on the fair market value of the assets included in the model
portfolio. Fees associated with a model portfolio are included in the total annual fee. The Firm also offers
a fixed/flat fee or hourly fee option. These fees may differ depending on client-specific factors such as
account size and complexity and will be specified in the Investment Advisory Agreement. The Firm’s
advisory fees will typically be collected monthly in arrears, unless other arrangements are made. Clients
may pay for advisory services by giving the Firm debiting authority over one or more accounts. Payment
by the Client by wire or check is also acceptable. To the extent that a Client terminates his or her advisory
relationship with the Firm at a time other than month-end, the Firm will be entitled to any earned but
uncollected fees. As described in Item 4, Unmanaged Assets will not be subject to the Firm’s investment
management services and will be excluded from the Firm’s customary investment management fee
calculations.

Fees for Subadvisory Services
The Firm’s fees for Subadvisory Services are asset-based fees and range from .15% to .50% per annum on
the fair market value of the assets covered by the Firm’s Subadvisory Services. Fees shall be calculated
on a per Subadvisory Client, per account basis using the ending market values for the preceding calendar
quarter. The Firm’s advisory fees will typically be collected quarterly in arrears after invoicing the other
investment manager.

In the event any Subadvisory Client account subject to the Firm’s Subadvisory Services is terminated prior
to the end of the quarter, the fees shall be prorated as of the date of termination. The other investment
manager shall pay the Firm its fees on a pro-rata basis, for the period investment advisory services were
provided up until account termination.

Additional Fees Not Part of Investment Management Agreement
For Investment Advisory Services, the Client and the Firm negotiate a fee but such fee does not cover (a)
charges for services provided by the Firm, its affiliates or third parties which are outside the scope of the
Investment Management Agreement or Consulting Services Agreement such as retirement plan
administration fees, trustee fees, wire transfer fees, account fees and charges incidental to brokerage and
custodial services; (b) any taxes for fees imposed by exchanges or regulatory bodies; (c) custodian fees
and charges; (d) brokerage commissions and other fees; (e) sales loads and internal operating expenses
on mutual funds, exchange traded funds, unit investment trust, private funds, and variable insurance or
annuity contracts; and (f) commissions on transactions ordered by the Client. Each of these additional
fees are separately charged to the Client.

Fees for Consulting Services
The Firm provides Consulting Services on an hourly or flat fee basis to institutional, corporate, business
entities, or trust Clients seeking general investment advice; advice with respect to certain specific assets;
research related to certain assets classes, investments, funds or managers; implementation and
structuring of certain complex or unique investment strategies or funds; advice on the formation and
management of private fund structures; advice on the establishment of complex separately managed
accounts; and research and exploration of the market potential for certain private offerings. When
working on Consulting Services, the Firm will work closely with a Client’s attorney, tax advisor, accountant,
actuaries, or other investment professionals.

Item 7 – Types of Clients
The Firm’s clients include corporations, insurance companies, business entities (such as limited liability
companies and limited partnerships), trusts, estates and individuals. Individuals may include “accredited
investors” or “qualified purchasers,” which refer to income and/or net worth tests established under
applicable securities rules.

The majority of the assets that are managed by the Firm are insurance company separate accounts.

We refer to management for insurance companies and investment-related clients as institutional
investment management. In this regard, the Firm advises on a discretionary basis. The Firm generally
requires a minimum investment of $10 million for advisory services for institutional clients.

For businesses and trust, the Firm requires a minimum investment of $5,000,000.

For individual clients and closely held business corporations, partnerships and limited liability companies,
the firm has a minimum investment of $1,000,000.

The Firm in its sole discretion may reduce or waive any minimum investment requirement for a Client.

Although there is no stated minimum to continue advisory services after the initial investment, the Firm,
IAR and the Client may agree to set a minimum investment amount.