MJB Asset Management LLC

ITEM 5 – FEES AND COMPENSATION

Investment Management Services
We calculate our fees as a percentage of assets under management. Our standard fees for
portfolio management services are set forth below.

               $1 to $3,000,000.00                          1% per annum

               Above $3,000,000.00                          0.75% per annum

Fees are generally not negotiable; however, MJB reserves the right to modify its fee structure in
light of a client’s special circumstances. Such circumstances can include, without limitation, the
types of services provided, the complexity and level of service provided, the number of different
accounts and the total assets under management for that client, other services provided by us,
relationship to us and other factors that we deem relevant. For individual clients fees are
deducted from client assets in arrears at the end of each calendar quarter.

Additional Expenses
The management fees set forth above cover fees only for services that we provide. The fees do
not cover any other fees incurred in connection with the implementation of a client’s investment
program, including, but not limited to: (1) the fees and costs associated with the ownership of
investment products such as mutual funds (e.g., management fees and other expenses that
clients pay indirectly on an ongoing basis); (2) transaction costs associated with the purchase of
mutual funds and individual securities such as stocks, bonds and Exchange Traded Funds (ETF’s);
and (3) custody costs.

All mutual funds in client accounts are purchased on a no-load or load-waived basis. However,
most custodians, including Charles Schwab & Co., Inc., charge a transaction fee to the client’s
account for the purchase and sale of certain but not all funds. The fees charged by the custodian
for ETF and stock transactions can change at any time at the discretion of the custodian. We do
not receive compensation of any kind from mutual funds or their affiliates or Charles Schwab &
Co., Inc. in connection with making an investment recommendation that results in the purchase
of mutual funds.

Investment Consultation Services.
We also provide ongoing investment consultation services to clients who do not provide us with
discretionary authority over their investment accounts. The minimum annual retainer for these
services is $10,000. The fee is payable in four equal quarterly installments following the end of
each quarter.

Investment Management & Consultation Services for Qualified Plans
We typically require an annual retainer fee for the services that we provide to various qualified
plans (e.g. 401(k) Plans and 403(b) Plans). If a flat fee is due, it is payable in four equal quarterly
installments following the end of each quarter. The minimum annual flat advisory fee is $10,000.
If the advisory fee is based on assets under management, the advisory fee will not exceed 1.00%
per annum. Fees for qualified plans will typically be paid quarterly but can be paid in advance or
in arrears based on the entity serving as custodian or recordkeeper. Fees for consultation services
are subject to negotiation at our discretion.

ITEM 7 – TYPES OF CLIENTS

We provide advisory services to individual clients, high net worth clients, certain business
organizations and qualified retirement plans. The minimum deposit to open an account for which
portfolio management services will be provided is $1,000,000. We reserve the right to waive this
requirement in our sole discretion.