Georgina Asset Management LLC

ITEM 5: FEES AND COMPENSATION

A. Advisory Fees and Compensation.

Fee Schedule
Georgina Asset Management, LLC charges investment supervisory service fees quarterly in advance
based on a percentage of the market value of a client’s assets under management. Fees are calculated
based on the last trading day of each calendar quarter in accordance with the following fee schedule:

Traditional Assets:
(Stocks, Bonds, Mutual Funds and ETFs)
 Assets Under Management Annual Fee (%)
 First $5 million                1.500%
 Next $20 million                1.250%
 Next $25 million                1.000%
 Next $25 million                0.875%
 Next $25 million                0.750%
 Next $25 million                0.625%
 $125 million and above          0.500%

Non-Traditional Assets:
(Hedge Funds, Fund of Funds, Venture Capital, Private Equities and Real Estate)
 Assets Under Management Annual Fee (%) *
 First $5 million                1.500% + 10% profit participation
 Next $20 million                1.250% + 10% profit participation
 Next $25 million                1.000% + 10% profit participation
 Next $25 million                0.875% + 10% profit participation
 Next $25 million                0.750% + 10% profit participation
 Next $25 million                0.625% + 10% profit participation
 $125 million and above          0.500% + 10% profit participation

*Based on valuation of investment for a full calendar year.

Administration of Assets
(Assets Held at Other Custodians)
 Assets Under Management Annual Fee (%) *
 Negotiable                       Negotiable

Research and Consulting Services
GAM assesses a fixed fee ranging from $10,000 to $500,000 for Research and Consulting Services.
GAM does not require or solicit prepayment of more than $1,200 in fees per Client, six months or
more in advance. In the event a deliverable report has not been provided to the client within six
months of engagement, fees will be refunded until such time as the report is provided by GAM.
Unless otherwise negotiated, the Client will be required to pay up to 100% of the Firm’s fee for this
service. Although the Firm believes its fees are competitive, lower fees for comparable services may
be available from other sources.

Under certain circumstances, fees may be negotiable. GAM may aggregate certain client accounts
to achieve breakpoints within its tiered fee schedule. For purposes of fee tier breakpoints, GAM will
aggregate all the managed assets belonging to each client and any family member living in same
household.

B. Payment of Fees.
As per GAM’s Investment Advisory Agreement (IAA), clients will authorize that fees be deducted
from their accounts. The fees charged are calculated as described above. Fees are not charged based
on a share of capital gains or capital appreciation of the assets of the account or any portion of the
securities of any advisory client, except as it relates to the 10% profit participation of non-traditional
assets. Please see Item 6: Performance-Based Compensation below. Fees may be negotiable or fixed.

C. Additional Fees and Expenses.
All fees paid to GAM for investment advisory services are separate and distinct from the fees and
expenses charged by custodians, portfolio managers, ETFs (Exchange Traded Funds), mutual funds
and alternative investment managers to their shareholders and investors. These fees generally
include brokerage and transaction costs, management fees and other expenses including incentive
or distribution fees in unique cases. A portfolio manager, ETF, mutual fund, or alternative
investment may impose an initial or deferred sales charge. GAM does not receive any portion of
additional fees and expenses charged by third parties. For additional information, please see Item

ITEM 7: TYPES OF CLIENTS

GAM provides investment advisory services to individuals and their families, trusts, estates,
charitable organizations, corporations, pensions, and profit-sharing plans.

Conditions for Managing Accounts

When GAM provides investment advice to a client, we are deemed a fiduciary under certain federal
regulations, and within the meaning of Title I of the Employee Retirement Income Security Act
and/or the Internal Revenue Code, as applicable, which are laws governing retirement accounts.
The way the firm makes money creates conflicts of interest; however, as a fiduciary, GAM and our
supervised persons are required to always act in our clients’ best interests, which means we must, at
a minimum take the following steps:

      Meet a professional standard of loyalty and care when making investment recommendations.
      Always put our clients’ interests ahead of our own when making recommendations and
       providing services.
      Disclose all conflicts of interest and how the Firm addresses such conflicts.
      Adopt and follow policies and procedures designed to help ensure that we give advice and
       provide services that remain in each client’s best interest.
      Charge an advisory fee that is reasonable for our services.
      Not provide, or withhold, any information that could render our advice and/or services
       misleading.

If a client’s account is a pension or other employee benefit plan governed by the Employee
Retirement Income Security Act of 1974, as amended (“ERISA”), GAM may be a fiduciary to the
plan. In providing our investment management services, the sole standard of care imposed upon us
is to act with the care, skill, prudence, and diligence under the circumstances then prevailing that a
prudent man acting in a like capacity and familiar with such matters would use in the conduct of an
enterprise of a like character and with like aims. GAM will provide certain required disclosures to
the “responsible plan fiduciary” (as such term is defined in ERISA) in accordance with Section
408(b)(2), regarding the services we provide and the direct and indirect compensation we receive by
such clients. Generally, these disclosures are contained in this Form ADV Part 2A, the Client
Agreement and/or in separate ERISA disclosure documents and are designed to enable the ERISA
plan’s fiduciary to: (1) determine the reasonableness of all compensation received by GAM; (2)
identify any potential conflicts of interests; and (3) satisfy reporting and disclosure requirements to

plan participants.