Elite Capital Management Group LLC

Item 5: Fees and Compensation

Compensation
Elite bases its fees on a percentage of assets under management. Elite's management
fees range from 0.05% to 0.85% annually, based on negotiation with the client and
complexity of the client’s needs.
Calculation and Payment
The specific manner in which fees are charged by Elite is established in a client's written
agreement. Elite will generally calculate fees in arrears on a monthly basis based on the
end of month account value and directly debit those fees from client accounts. Because
fees are charged in arrears, no refund policy is necessary. Clients may elect to be invoiced
directly for fees or authorize Elite to directly debit fees from client accounts.
Accounts initiated or terminated during a calendar month will be charged a prorated fee.
Upon termination of any account, any earned unpaid fees will be due and payable.
Agreement Terms
A client may terminate the client agreement at any time by notifying Elite in writing.
General Information on Compensation and Other Fees
In certain circumstances, fees, account minimums and payment terms are negotiable
depending on a client's unique situation - such as the size of the aggregate related party
portfolio size, low cost basis securities, or certain passively advised investments and pre-
existing relationships with clients. Certain clients may pay more or less than others
depending on the amount of assets, type of portfolio, or the time involved, the degree of
responsibility assumed, complexity of the engagement, special skills needed to solve
problems, the application of experience and knowledge of the client's situation. Lower fees
for comparable services may (or may not) be available from other sources.
Elite's fees are exclusive of brokerage commissions, transaction fees, and other related
costs and expenses which shall be incurred by the client. Clients may incur certain
charges imposed by custodians, brokers, third party investment and other third parties
such as fees charged by separate account managers, custodial fees, odd-lot differentials,
transfer taxes, wire transfer and electronic fund fees, and other fees and taxes on
brokerage accounts and securities transactions. Mutual funds and exchange traded funds
also charge internal management fees, which are disclosed in a fund's prospectus.

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Such charges, fees and commissions are exclusive of and in addition to Elite's fee, and
Elite shall not receive any portion of these commissions, fees, and costs.
Elite utilizes a subadvisor, GWK, to assist in managing client accounts. GWK charges an
additional fee of 0.15% to 0.18% annually. This fee is in addition to Elite's advisory fee
described in the fee schedule above and Elite does not receive any part of GWK's
additional fee. This fee is included in a client's monthly fee calculation and is remitted to
GWK following monthly assessment of fees.
All fees paid to Elite for investment advisory services are separate and distinct from the
fees and expenses charged by mutual funds to their shareholders. These fees will
generally include a management fee, other fund expenses and a possible distribution fee.
Mutual funds purchased by Elite for a client account will be executed at NAV. Clients may
also incur charges for other account services provided by custodians not directly related
to the execution and clearing of transactions including, but not limited to, safekeeping
fees, and fees for legal or courtesy transfers of securities.
Clients should note that similar advisory services may (or may not) be available from other
registered investment advisers for similar or lower fees.

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Types of Clients
As described in Item 4, Elite's clients are credit unions.
Account Minimums
Elite requires a minimum account of $5,000,000 for investment advisory clients,
although this may be negotiable under certain circumstances.

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