Bryden-Abrams Investment Management LLC

Item 5 - Fees and Compensation

Bryden-Abrams Investment Management LLC generally charges an annual fee based on
total client assets under management. We charge an annual fee of 0.60% on all fixed
income securities and a fee of 1.25% of the value of all equity and mutual fund holdings.
Our fees are computed and billed quarterly in advance as of the month-end values at
March, June, September and December. For accounts substantially above our minimum of
$2 million, we might under some circumstances be willing to negotiate a discounted rate. In
addition to our investment management fees, clients must pay brokerage commissions as
well as any mutual fund charges if we invest any of their funds in such vehicles. Also, the
custodian of each client’s funds may impose charges.

Clients may choose to have their fees deducted from their accounts or they may prefer to
be billed separately. Since our investment management contract requires written
notification of cancellation sixty days in advance, we rarely need to compute a pro-rata
refund of a prepaid management fee. We do not refund management fees for routine cash
withdrawals.

Apart from a normal salary, no employee receives any compensation, cash or otherwise,
for any services rendered to the company. We pay no fees, nor commissions, to brokers or
other non-employees of the firm. We employ no marketing personnel. . No revenues are
derived from commissions or any other compensation for the sale of investment products.
Our revenues are derived solely from our standard management fees. Most of the mutual
funds that we utilize have no sales loads.

Item 7- Types of Clients

Our clients are high net worth individuals, related trust funds, and pension plans related to
family businesses. Generally, our minimum relationship is $2 million, and we must be sure
that the client’s investment objectives are compatible with our own investment philosophy
and management style.