Rena Advisors LLC

Item 5: Fees and Compensation

A. Fee Schedule

Investment Supervisory Services Fees

           Total Assets Under Management                 Annual Fee

          All Assets Under Management                      0.90%

These fees are negotiable and in limited circumstances may be a fixed fee depending upon
the needs of the client and complexity of the situation. The final fee schedule is attached
as Exhibit II of the Investment Advisory Contract. Fees are paid monthly or quarterly in
arrears, and clients may terminate their contracts with five days’ written notice. Because
fees are charged in arrears, no refund policy is necessary. Clients may terminate their
accounts without penalty within 5 business days of signing the advisory contract.

Business Strategy Consulting Fees

The rate for strategy consulting fees is $750 per hour, negotiable at the Advisor’s
discretion. The total fee will be memorialized in the client agreement.

Client will also reimburse Adviser for all reasonable travel, lodging, meals, and other
prior approved out-of-pocket expenses incurred or paid by the Adviser in connection with
the performance of its services.

Selection of Other Advisers Fees

RA may direct clients to third-party investment advisers. RA will receive its standard fee
on top of the fee paid to the third party adviser. The notice of termination requirement
and payment of fees for third-party investment advisers will depend on the specific third-
party adviser selected.

B. Payment of Fees

Payment of Investment Supervisory Fees

Adviser will send a bill directly to Client to be paid by check or wire transfer. Fees are
paid quarterly in arrears.

Payment of Business Strategy Consulting Fees

Client to billed monthly in arrears for work completed during the previous month. Client
to pay by wire transfer or check.

       Clients may terminate the Agreement without penalty or fee within 5 business days of
       signing the advisory contract. Thereafter, the Client or Advisor may terminate the
       Agreement by providing a 30-day written notice to the other Party. In the event of
       termination, client will be billed for services rendered to the date of termination.

       C. Clients Are Responsible For Third Party Fees

       Clients are responsible for the payment of all third-party fees (i.e. third-party managers
       fees, custodian fees, brokerage fees, mutual fund fees, transaction fees, etc.). Those fees
       are separate and distinct from the fees and expenses charged by RA. Please see Item 12
       of this brochure regarding broker/custodian.

       D. Prepayment of Fees

       RA collects its fees in arrears. It does not collect fees in advance.

       E. Outside Compensation For the Sale of Securities to Clients

       Employees of RA are not compensated by commissions.

Item 7: Types of Clients

RA generally provides management supervisory services to the following types of clients:

           ❖ High-Net-Worth Individuals

Minimum Account Size

There is an account minimum, $5,000,000, which may be waived by the investment advisor,
based on the needs of the client and the complexity of the situation.