Meridian Management Co

Item 5 – Fees and Compensation
Meridian charges an annual fee that is a percentage of the account value. Fees are generally
calculated at the rate of 1/4 of the annual rate on the total value of a client's account as of the last
business day of March, June, September, and December and is payable in arrears or in advance, as
agreed to by Meridian and client*. For the time period between the date an investment advisory
agreement is entered into and the first regular quarterly fee calculation date, an initial fee shall be
computed on a pro-rata basis. In the event an investment advisory agreement is canceled by the
client or Meridian, the client shall be entitled to a pro-rata refund of any prepaid fee.

Fees are exclusive of brokerage commissions, transaction fees, and other related costs and expenses
which shall be incurred by the client. Clients may incur certain charges imposed by custodians,
brokers, third party investment and other third parties such as fees charged by managers, custodial
fees, odd-lot differentials, transfer taxes, wire transfer and electronic fund fees, and other fees and
taxes on brokerage accounts and securities transactions. Mutual funds and exchange traded funds
also charge internal management fees, which are disclosed in a fund’s prospectus. Such charges, fees
and commissions are exclusive of, and in addition to, Meridian’s fee. Meridian does not receive a
portion of these commissions, fees, and costs.

        Investment Management                                          AUM           Annual Fee Rate
                                                                        First $1MM   1.00%
        Blended Asset Allocation                                        Next $10MM   0.85%
                                                                        Next $10MM   0.75%
                                                                        Over $20MM   0.50%

                                                                                     0.45%
        Single Asset Class – Fixed Income

                                                                        First $1MM   1.25%
        Single Asset Class - Equities                                   Next $10MM   1.00%
                                                                        Over $10MM   0.75%

Client funds are frequently invested in money market funds which charge a management fee. Client
funds held by a custodian or a broker may be swept into the custodian broker or bank's short-term

 *Clients may elect to have fees deducted from a client account or billed.

investment funds. Funds of this nature ordinarily charge a fee for the investment of cash in mutual
funds and money market type investments. These fees are in addition to those charged by Meridian,
i.e., if client account is invested in a mutual fund, exchange traded fund, or money market fund, there
may be an additional management fee charged by those entities.

Compensation for investment advice furnished through consultations may be negotiated in advance
between Meridian and client and may be based upon (1) an hourly or daily fee, at a rate agreed to by
the client, plus expenses, (2) a fixed fee agreed to by the client, or (3) a percentage fee, at a rate agreed
to by the client, based upon the amount of client's assets to which such consultations relate. Such
compensation shall be payable at a time agreed to by Meridian and client.

As mentioned above in Item 4, Meridian may direct clients to third party investment advisers.
Meridian will be compensated via a fee share from the advisers to which it directs those clients. The
fees shared are negotiable and will not exceed any limit imposed by any regulatory agency. The notice
of termination requirement and payment of fees for third-party investment advisers will depend on
the specific third-party adviser selected.

Meridian serves as investment advisor to client-sponsored defined contribution plans whereby the
sponsor offers a variety of investment options to participants. Participants are offered a minimum
of four such investment options, e.g., money market, fixed income, equity funds and Lifestyle funds
or Target Retirement funds. Meridian selects registered mutual funds or collective trust funds.
Participants allocate their individual account balances among the funds selected by Meridian.
Meridian has the discretion to designate the funds utilized and to increase or decrease the number
of such funds. Meridian's annual fee schedule for this ranges from 0.10% to 1.0%. Funds selected by
Meridian charge a fee for management of assets. Meridian's fee is in addition to that charged by the
funds.

Meridian reserves the right to modify its customary fee arrangements when circumstances justify a
different arrangement. Under certain circumstances, such as for clients who have multiple family
members’ portfolios under Meridian’s management, Meridian may collectively apply the family
members’ assets to its fee schedule, resulting in a reduced assets-under-management fee.
Therefore, the advisory fee may vary from client to client.

Item 7 – Types of Clients
Meridian provides services to individuals and high net worth families; trusts, estates, and charitable
organizations including foundations and endowments; corporate retirement plans, public pension
funds, and municipalities.

Meridian has an initial minimum account size of $500,000. This minimum may be adjusted at our
discretion depending on the facts and circumstances, e.g., for minimum account size purposes, the
value of client accounts may be aggregated, or an account may be accepted when it is anticipated that
additional funds will be contributed.