Titan Managers LLC

ITEM 5: FEES AND COMPENSATION
Advisory Fees & Billing Practices
Fees for investment management services are calculated as a percentage of assets under management.
These fees are billed quarterly in arrears, based on the assets under management as of the last day of the
calendar quarter. Our standard fee schedule follows.

                Assets under Management                                Annual Fee
                On the first $2,000,000                                 1.00%
                On the next $3,000,000                                  0.75%
                On amounts over $5 million                             Negotiable

                Minimum annual fee: $3,000

Fees are not negotiable for accounts below $5 million. Basic financial planning services are included in
the above fees. Note that there is a conflict of interest with the implementation of the financial plan; we
receive increased fees if you include us in the implementation of the financial plan. You are not required
follow any of the recommendations in the financial plan or, if you choose to implement any
recommendation, to employ us to implement it for you.

Clients may provide authorization for us to deduct our fees directly from the investment account.
Following is important information about the deduction of management fees:

       Client must provide authorization for us to deduct fees in the advisory agreement signed with
        Titan.

       Clients receive statement from the custodian which shows account holdings and transactions in
        the account, including the amount of the management fee deducted.

You may elect to pay by check rather than having payment deducted directly from your account.

You may end our advisory relationship by providing 30 days written notice. We will prorate the advisory
fees earned through the termination date and send you an invoice for the advisory fees due.

We believe the fees mentioned above are competitive; however you may be able to obtain similar services
from other sources at a lower price.

Other Costs Involved
In addition to our advisory fee shown above, you are responsible for paying fees associated with investing
for your account. These fees include:

     management fees for ETFs and mutual funds. These are fees charged by the managers of the ETF
      or mutual fund and are a portion of the expenses of the ETF or mutual fund.

     brokerage costs and transaction fees for any securities or fixed income trades. These are
      generally charged by your custodian and/or executing broker.

Additional information about brokerage costs and services is provided in “Item 12: Brokerage Practices.”

Neither Titan nor our affiliated persons receive compensation, other than the fees mentioned above, for
the sale of securities or other investment products.

ITEM 7: TYPES OF CLIENTS
Titan offers investment advisory services to individuals, businesses, pension and profit-sharing plans, and
registered investment advisors.

Generally we require that clients maintain a minimum account size of $500,000. However, we may waive
these minimums at our sole discretion.