MRAZ Amerine & Associates Inc

Fees and Compensation - Item 5

 MAA offers its services on a fee basis, which may include hourly and/or fixed fees, as well as fees based upon
 assets under management.

 Financial Planning Fees
 MAA provides basic financial planning services upon request. This service is provided to investment management
 clients as part of their investment advisory services and does not include any extra fee. For non-investment
 advisory clients, the firm charges $250 per hour for financial planning services.

 These fees are negotiable, but financial plans generally range from $1,000 to $5,000 in fees, depending upon the
 level and scope of the services and the professional rendering the financial planning and/or the consulting
 services. If the client engages MAA for additional investment advisory services, MAA may offset all or a portion
 of its fees for those services based upon the amount paid for the financial planning and/or consulting services.

 Prior to engaging MAA to provide financial planning and/or consulting services, the client is required to enter into
 a written agreement with MAA setting forth the terms and conditions of the engagement. Generally, MAA
 requires a deposit on the financial planning fee payable upon entering the written agreement. The balance is
 generally due upon delivery of the financial plan or completion of the agreed upon services.

 Investment Management Fee
 MAA provides investment management services for an annual fee based upon a percentage of the market value
 of the assets being managed. The annual fee is exclusive of, and in addition to brokerage commissions,
 transaction fees, and other related costs and expenses which are incurred by the client. The firm does not,
 however, receive any portion of these commissions, fees, and costs. MAA’s annual fee is prorated and charged
 quarterly, in advance, based upon the market value of the assets being managed by MAA on the last day of the
 previous quarter. The annual fee is based on the tiered fee schedule below:

                              Portfolio Value                                Base Fee
                  First $500,000                                                                1.25%
                  $500,001 to $2,499,999                                                        1.00%
                  $2,500,000 to $4,999,999                                                      0.90%
                  $5,000,000 to $14,999,999                                                     0.70%
                  Above $15,000,000                                                             0.50%

Mraz and Associates
Form ADV Part 2A

 As a tiered fee schedule, a portfolio is billed 1.25% on the first $500,000, 1.00% on the next $2,000,000, 0.90% on
 the next $2,500,000, 0.70% on the next $10,000,000 and 0.50% on $15,000,000 and above. As an example, a
 client with $3,500,000 under management would pay $35,250 on an annual basis. $500,000 x 1.25% = $7,500.
 Plus $2,000,000 x 1.00% = $20,000. Plus $1,000,000 x 0.90% = $9,000 for a total annual fee of $35,250. This
 amount is billed to the account(s) in quarterly installments (1/4 x $35,250 = $8,8812.50 each quarter) resulting in
 an overall fee of 1.01%.

 MAA, in its sole discretion, may negotiate to charge a lesser management fee based upon certain criteria (i.e.,
 anticipated future earning capacity, anticipated future additional assets, dollar amount of assets to be managed,
 related accounts, account composition, pre-existing client, account retention, pro bono activities, etc.). Legacy
 clients may be billed under fee schedules that are significantly different from the one listed above.

 Investment Management of Plan Assets
 Fees for the investment advisory services to retirement plans (“Fees”) are negotiable. For discretionary
 investment management we charge a fee based on a percentage of the assets we manage in the Plan and in
 accordance with the portfolio management fee schedule listed above. For non-discretionary investment
 management, we charge a flat fee of 50 basis points. The annual fee for MAA’s plan services is billed in either in
 advance or in arrears on a quarterly basis. Fees are calculated on the market value of the plan assets in accordance
 with the agreement you signed with us. The scope of these services, the fees, and the terms of the agreement for
 these services will be negotiated on a case-by-case basis with each Sponsor.

 For the first billing period in which you engage us, or if the Parties terminate the Agreement during the billing
 period, the Fees will be prorated for only those days that we rendered our Services. Your custodian/record-keeper
 will send statements to you, at least quarterly, that will reflect the Fees paid to us, but you should verify the
 accuracy of Fees paid.

 Either party to the fiduciary investment advisory agreement may terminate the agreement upon 30-days’ written
 notice to the other party. You will incur a pro rata charge for services rendered prior to the termination of the
 advisory agreement, which means you will incur advisory fees only in proportion to the number of days in the
 billing period for which you are a client. If you have pre-paid advisory fees that we have not yet earned, you will
 receive a prorated refund of those fees.

 Fees Charged by Financial Institutions
 As further discussed in response to Item 12 (below), MAA generally recommends that clients utilize the brokerage
 and clearing services of Charles Schwab & Co., Inc. (“Schwab”).

 MAA may only implement its investment management recommendations after the client has arranged for and
 furnished MAA with all information and authorization regarding accounts with appropriate financial institutions.
 Financial institutions include, but are not limited to, Schwab, any other broker-dealer recommended by MAA,
 broker-dealer directed by the client, trust companies, banks etc. (collectively referred to herein as the “Financial
...

Types of Clients - Item 7

 MAA provides its services to individuals, pension and profit-sharing plans, trusts, estates, charitable organizations,
 corporations and business entities. The firm requires a minimum of $1,000,000 in client assets to open and
 maintain an advisory relationship. In our sole discretion, we may waive this requirement. This requirement can
 be met by combining two or more accounts owned by you or related family members.

                       Methods of Analysis, Investment Strategies and Risk of Loss - Item 8