Daniel Investment Associates LLC

Item 5 – Fees and Compensation
Investment Management Fees

The Adviser is compensated for investment management services based on a client’s
assets under management. Fees are paid quarterly in arrears and are negotiable. The
Client’s fees will take into account the aggregate number of portfolios under
management with DIA.

Fees are due on the first day of the calendar quarter and are based on the account’s
asset value as of the last business day of the prior calendar quarter. Fees are prorated
for accounts opened during the quarter.

Fees will, dependent on Client preference, be paid by check or automatically deducted
from the account as specified by client. If client elects to have advisory fee deducted
from the portfolio account, the fee will be reflected in the monthly statement created by
the custodian.

Annualized Fees

         From                      To                   Per Year
         $1,000,000                $4,999,999           1.00%
         $5,000,000                $9,999,999           0.80%
         Over $10,000,000                               0.40%

The account custodian may charge fees, which are in addition to and separate from
advisory fees. Accounts may incur transaction costs, retirement plan administration
fees, mutual fund annual expenses and other fees. Clients should note that fees for
comparable services vary and lower or higher fees may be charged by different providers
for similar services.

Clients will have a period of five (5) business days from the date of signing an advisory
agreement to unconditionally rescind the agreement and receive a full refund of all fees.
Thereafter, either party may terminate the advisory agreement with 30 days written
notice. Fees are prorated to the date of termination. Since fees are payable only after
services are provided, there are no unearned fees and the client will not have a refund
due upon early termination of the advisory agreement.

Item 7 – Types of Clients
The Adviser provides advisory services to:

      High net worth individuals – Individuals who are “qualified clients” under rule
       205-3 of the Advisers Act of 1940 or “qualified purchasers”
      Foundations and charitable organizations

Account Minimums

The Adviser requires a minimum of $10,000,000 to establish a new advisory account;
however, the minimum may be waived at the sole discretion of the Adviser.

In addition, the Adviser may continue to service existing accounts that have values that are
below the minimum.