Municipal Asset Management Inc

Item 5 – Fees and Compensation

Municipal Asset Management bases its fees upon a percentage of the custodian market value of the securities
and assets under management at the end of each calendar quarter (adjusted for contributions and
withdrawals made during the quarter based upon the time they were made during the quarter). Such
compensation will generally be billed quarterly after services are rendered, but may in certain circumstances
be customized depending on account objectives and/or the client’s request. Clients may elect to pay fees
specific to their needs including being billed directly, or authorizing their custodian to make a payment to
Municipal Asset Management Inc. for services rendered by debiting fees directly from their custody accounts.
Investment advisory fees will never exceed 1 percent per annum of net assets under management. Advisory
fees may be negotiable in limited circumstances, depending on, but not limited to, the size of the portfolio,
total client assets, the scope of services required and/or the number of custodians or accounts involved. An
advisory agreement may be terminated by either Municipal Asset Management Inc. or the client upon thirty
days' written notice to the other party. Fees earned and payable on a pro rata basis in arrears are due
immediately.

                          Account Value                                 Percentage Charged

               First                      300,000                              1.000%
               Next                       300,000                              0.875%
               Next                       400,000                              0.625%
               Next                     2,000,000                              0.500%

              Accounts Greater than $3,000,000                          Percentage Charged

               First                    5,000,000                              0.500%
               Next                    10,000,000                              0.400%
               Next                    10,000,000                              0.350%
               Next                    25,000,000                              0.300%
               Next                    50,000,000                              0.290%
               Next                   100,000,000                              0.280%

Certain investment advisory services may be provided for a fixed fee or an hourly fee, and may include a one-
time review, and subsequent recommendations for investments for a specified goal. This fee is stated in the
agreement between the client and the Advisor, and is negotiable. The factors considered in determining the
fee include, but are not limited to, time involved, scope of the services requested, and resources utilized to
deliver services.

Municipal Asset Management Inc. does not provide custodian or brokerage services. Clients may incur
certain charges at their discretion and/ or selection imposed by custodians, brokers and other third parties
such as fees charged by managers, custodial fees, 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 Municipal Asset Management Inc.’s fee, and Municipal Asset Management
Inc. shall not receive any portion of these commissions, fees, and costs. Please see Item 12 of this brochure
titled Brokerage Practices. The firm does not sponsor a wrap fee program.

Item 7 – Types of Clients

Municipal Asset Management Inc. provides portfolio management services to individuals, high net worth
individuals, corporations, corporate pension and profit-sharing plans, Taft-Hartley plans, trusts, estates,
charitable institutions, foundations, endowments, not-for-profits, and state and local government agencies.