MUNN Wealth Management LLC

Item 5:           Fees and Compensation

          A.      Fees Charged/ Fee Schedule:

          Financial Planning

          Financial planning fees can be either hourly or on a fixed fee basis. Fixed fee rates vary from $250 to
          $5,000. The fee range stated is a guide. Fees may be higher or lower than this range, based on the nature
          of the engagement. Fees are negotiable and will depend on the anticipated complexity of your plan. Some
          clients may also engage MWM on a project basis to provide advice on isolated matters, such as an
          evaluation of a client employer sponsored retirement plan.

          Camelot Event Driven Fund Discount

          For clients invested in the Camelot Event Driven Fund, fees payable to Camelot Portfolios will be
          discounted according to the percentage of the client portfolio invested in that strategy. For example, a
          client whose overall fee should be 0.50% per annum that has an asset allocation guideline of 20% to the
          Camelot Event Driven Fund will have their fee discounted by 20%, which means their Camelot Portfolios
          fee would be 0.40% per annum. The fee rates determined by a client’s asset allocation will remain in
          place until the asset allocation changes, regardless of performance. The discount for Camelot Premium
          Return allocations is based upon the target asset allocation guideline, and not upon actual asset
          percentages, because the fee discount does not take into account the effects of performance. For example,
          if a client’s portfolio has a target allocation of 20% to the Camelot Event Driven Fund, that client will
          receive a 20% Camelot Portfolios fee discount regardless of the actual assets in each strategy moving
          forward, even if the Camelot Premium Return asset allocation falls below 20% of the overall portfolio, or
          grows above 20% of the portfolio.

Strategy changes in and out of the Camelot Event Driven Fund will change the fee rate as of the next
billing period. For example, a client with no allocation to the Camelot Event Driven Fund for one quarter
who changes to a 20% allocation guideline intra-quarter will not receive a refund for 20% of the current
quarter’s fee. The fee discount will apply beginning with the next billing period. Likewise, a client whose
assets are allocated away from the Camelot Event Driven Fund will not return to a full fee payment until
the next billing quarter.

The discount applied for Camelot Event Driven Fund allocations relates to the Camelot Portfolios portion
of the fee only. Any fees payable to the referring advisor are not subject to the discount unless otherwise
arranged between that advisor and the client. For example, a client’s agreement may refer to the client
being charged a 1.50% annual fee, of which 0.50% is the Camelot Portfolios portion. Assuming a 20%
asset allocation target to the Camelot Event Driven Fund, the discount would be 20% of the Camelot
Portfolios, portion, or 20% of 0.50%, making the Camelot Portfolios portion 0.40% and the total client
fee debited to be 1.40%, with the other 1.00% to the referring advisor.

Asset Management

Fees are negotiable, but generally range from .50% to a maximum 2.00%. This fee is separate from and
in addition to any fees payable to any other manager, including Camelot Portfolios LLC.

Occasionally, various related client accounts may be grouped together to qualify for reduced advisory
fees. This format is called "family billing". It is the responsibility of the client to verify accuracy of fee
calculation.

Tax Preparation

Tax Preparation can be completed on a fixed fee basis or included with asset management services. The
fixed fee rates for stand-alone tax preparation vary from $100 to $2,000. The fee range stated is a guide.
Fees may be higher or lower than this range, based on the nature of the engagement. Fees are negotiable,
and will depend on the anticipated complexity of your plan. Eligible federal and applicable state returns
are filed electronically without an additional fee.

B.      Fee Payment

Asset Management

Investment advisory fees will generally be debited directly from each client’s account. The advisory fee
is paid on either a quarterly or monthly basis depending on the chosen custodian and method. Clients who
choose to use Fidelity may have the option for monthly billing. All clients using Goldman Sachs, Trade PMR
or IB as custodian will be assigned quarterly billing. Depending on the client’s needs and suitability, the
appropriate custodian and billing model will be recommended. Fees are calculated based on the value of
the account(s) at the beginning (value at market close of prior billing period end) of each calendar quarter
or month (depending on selected method) and are billed 1 quarter or month in advance. Further, cash and
cash like instruments are included in the calculation of fees. This means that if a client has a significant
cash allocation, either at client request or as a tactical investment decision, performance, especially short
term, will be affected. This is especially true for smaller accounts. Once the calculation is made, we will
instruct your account custodian to deduct the fee from your account and remit it to the firm.

It is the responsibility of the client to verify the accuracy of all fee calculations. The client may terminate
the investment advisory contract by notifying MWM in writing at its principal place of business.

The advisory agreement may be modified as mutually agreed upon in writing. The agreement is terminable
by you at any time. The agreement is not assignable by MWM without the advance written consent of the
client.

Financial Planning

For financial planning clients, fees will generally be billed for fees incurred, but clients may request that
planning fees be debited from an investment management account. The financial planning fee is billed in
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Item 7:           Types of Clients

          MWM generally provides advisory services to individuals, pension and profit sharing plans, trusts, estates,
          charitable organizations, corporations and other business entities.

          There is no specific account minimum for MWM. However, the various Camelot Portfolios LLC
          strategies in which client assets are invested each have suggested minimums, which may be waived by
          Camelot Portfolios LLC.

          MWM can waive the minimum amount requirements at their sole discretion.