Lloyd Tevis Investments LLC

Item 5 Fees and Compensation

ADVISORY FEES

The adviser’s compensation for providing services includes an annual account
maintenance fee and an advisory fee. The account maintenance charge is $100, levied
when the client initiates the relationship with the adviser and thereafter charged on
annual anniversaries. This fee compensates the Advisor for certain expenses incurred in
setting up and maintaining the client’s account and is considered fully earned at the time
billed. The advisory fee is a quarterly charge of 0.125% of investment assets. It is billed
at quarter end and thus it also is fully earned at the time billed. The precise definition of
investment assets is given in the Investment Agreement, but it generally includes all
public securities, investment products and cash held in investment accounts.

The annual maintenance charge is taken as a credit against the advisory fee. On
investment assets of $20,000 or less the maintenance fee will fully offset the advisory fee
and so the cost of the service will be $100 per year. On investment assets of $1,000,000
the quarterly fee will be $1,250.

The Advisor’s strong preference is to receive payment for its services through electronic
payment rather than by paper check. Advisor employs the firm of Stripe to process its
electronic payments. Stripe is a well established and reliable provider of electronic
payment services. Accordingly, Advisor requests clients to establish payment
arrangements with Stripe. This request is made by forwarding client to the appropriate
screen within Stripe’s website. The payment arrangements will generally include provision
of a credit card through which Stripe may collect payment. The details of the
arrangement client makes with Stripe are held in confidence by Stripe and are not shared
with the advisor. Similarly, the Advisor does not share client confidential data with Stripe.
Payments made in this way will be covered by the agreements between the client and the
payment card issuer and by agreements between client and Stripe. In particular these
agreements will provide client with significant protections and protocols in the case of a
billing dispute. In the case of any problem with payments we also encourage client to
contact Advisor and Advisor will use its best efforts to resolve the matter.

The Adviser may, in its sole discretion, change its Management Fee or charge fees that
differ from its standard Management Fee. However, no such change will take effect for
an existing client sooner than 30 days after the giving of notice of the change. Clients
continuing with the service after the effective date of the fee change will be deemed to
have consented to such change.

From time to time, the Adviser can offer promotions in the form of Management Fee
waivers where new or existing clients can receive some de minimis reward or reduced
Management Fee for a period of time. Such promotions can run indefinitely or for a limited
period of time. The Adviser reserves the right, in its sole discretion, and to the extent
required by applicable law, to waive or offset fees for clients.

Besides fees paid to Advisor, the client may incur additional fees and expenses. Examples
of such fees include: 1. fees levied on fund products recommended by Advisor 2. custody
fees incurred on positions held by client 3. brokerage commissions and dealer markups
incurred on transactions recommended by Advisor 4. tax preparation expenses incurred
as a result of investment earnings resulting from Advisor’s advice and 5. income and
capital gains taxes incurred as a result of holdings or transactions recommended by
Advisor.

ACCOUNT TERMINATION
Certain patterns of use of the website may raise a concern on the Adviser’s part that the
user is engaged in activities which breach the Governing Documents. Examples of such
activities would include, but not limited to, 1) apparent attempts to hack other user’s
accounts, 2) activities suggesting the user is rendering a commercial service to
third parties, or 3) activities which so heavily consume the computational power of the
website that other users are denied service. Upon observing such use, the Adviser may,
in its sole discretion, suspend the user’s or client’s access to the website pending a
satisfactory resolution of the matter. If the account has been suspended for thirty days
without the matter being resolved, the Adviser may convert the suspension to a
termination. In addition, the Adviser may, in its sole discretion, terminate any user,
client or group of clients upon giving thirty days’ notice prior to the termination
date and without suspending access during such thirty-day period.