Budge Financial Inc

Fees and Compensation
   Description
      BUDGE FINANCIAL, INC. has a fixed fee agreement with each of its clients.
      The annualized management fee is payable monthly and has been negotiated
      with the client, as stated in the Engagement Letter.

       Additional fees may also be billed on an hourly basis if agreed in advance by
       both Client and Advisor, as may be appropriate on a case-by-case basis. Also,
       any special expense disbursements (i.e.: courier packages, travel expenses,
       special mail, long distance calls, etc.) made by Advisor on behalf of Client may
       be added to the monthly invoice.

   Fee Billing
       The management fee is payable monthly in arrears. Also, any special expense
       disbursements (i.e. courier packages, travel expenses, special mail, long
       distance calls, etc.) made by Advisor on behalf of Client may be added to the
       monthly invoice.

       BUDGE FINANCIAL, INC., in its sole discretion, may waive its minimum fee
       and/or charge a lesser investment advisory fee based upon certain criteria
       (e.g., historical relationship, type of assets, anticipated future earning capacity,
       anticipated future additional assets, dollar amounts of assets to be managed,
       related accounts, account composition, negotiations with clients, etc.).

   Other Fees – Not applicable

   Expense Ratios – Not applicable

   Past-Due Accounts and Termination of Agreement
       BUDGE FINANCIAL, INC. reserves the right to stop work on any account that
       is more than 30 days overdue. In addition, BUDGE FINANCIAL, INC. reserves
       the right to terminate any engagement where a client has willfully concealed or
       has refused to provide pertinent information about financial situations when

                                  Budge Financial, Inc.

       necessary and appropriate, in BUDGE FINANCIAL, INC.’s judgment, to
       providing proper financial advice.

Types of Clients
   Description
      BUDGE FINANCIAL, INC. generally provides investment advice to individuals,
      trusts and estates. Client relationships vary in scope and length of service.

   Account Minimums
      BUDGE FINANCIAL, INC. requires a minimum net worth of $5 million for its
      clients starting an account to be considered sophisticated investors.

Methods of Analysis, Investment Strategies and Risk of Loss