Meixler Investment Management Ltd

Item 5: Fees & Compensation

    Compensation for Our Advisory Services

    Wrap Comprehensive Portfolio Management:

    Meixler Investment Management, Ltd.’s annual fees for Comprehensive Portfolio Management shall
    be based on a negotiated percentage of the market value of the assets under management not to
    exceed 1.50%. Comprehensive Portfolio Management fees are listed on Schedule A of the service
    agreement.

    Our firm’s fees are billed on a pro-rata annualized basis quarterly in advance based on the value of
    your account on the last day of the previous quarter. Our fees may be negotiable. While we do not
    offer direct billing as an option to our clients, in rare cases, we will agree to directly bill for fees
    incurred. Generally, fees will be automatically deducted from your managed account. As part of the
    automatic fee deduction process, you understand and acknowledge the following:

         a) Your independent custodian sends statements at least quarterly to you showing all
            disbursements for your account, including the amount of the advisory fees paid to us;
         b) You provide authorization permitting us to be directly paid by these terms;
         c) If we send a copy of our invoice to you, our invoice includes a legend which urges the client
            to compare information provided in their statements with those from the qualified
            custodian in account opening notices and subsequent statements.

    Other Types of Fees & Expenses

    Wrap fee clients will receive our Form ADV, Part 2A, Appendix 1 (the “Wrap Fee Program
    Brochure”). Wrap fee clients will not incur transaction costs for trades. More information about this
    is disclosed in our separate Wrap Fee Program Brochure.

    Termination & Refunds

    We charge our advisory fees quarterly in advance. In the event you wish to terminate our services,
    we will refund the unearned portion of our advisory fee to you. You need to contact us in writing
    and state that you wish to terminate our services. Upon receipt of your letter of termination, we will
    proceed to close out your account and process a pro-rata refund of unearned advisory fees.

    Commissionable Securities Sales

    We do not sell securities for a commission in our advisory accounts.

Item 7: Types of Clients & Account Requirements

    We have the following types of clients:
       • Individuals and High Net Worth Individuals
       • Trusts, Estates or Charitable Organizations
       • Corporations, Limited Liability Companies and/or Other Business Types

    We do not have any requirements for opening and maintaining accounts or otherwise engaging us.