Stephen Craig Schulmerich

Item 5: Fees and Compensation
Method of Compensation and Fee Schedule
 ASSET MANAGEMENT
 Schulmerich & Associates charges an annual investment advisory fee based on the total
 assets under management as follows:
                        Assets Under Management                Annual Fee
                             First $1,000,000                    1.00%
                             Next $1,000,000                     0.75%
                             Over$3,000,000                      0.30%
 This is a tiered/blended fee schedule, the asset management fee is calculated by applying
 different rates to different portions of the portfolio.
 The annual fee is negotiable 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.). Schulmerich & Associates. Fees are billed quarterly in arrears based on the
 amount of assets managed as of the close of business on the last business day of the
 previous quarter.
 Lower fees for comparable services may be available from other sources. Clients may
 terminate their account within five (5) business days of signing the Investment Advisory
 Agreement with no obligation and without penalty. After the initial five (5) business days,
 the agreement may be terminated by Schulmerich & Associates with thirty (30) days
 written notice to Client and by the Client at any time with written notice to Schulmerich &
 Associates. For accounts opened or closed mid-billing period, fees will be prorated based
 on the days services are provided during the given period. All unpaid earned fees will be
 due to Schulmerich & Associates. If there is insufficient cash in your account to pay our
 fees, we will confirm with you the liquidation of securities to the pay the fees. Client shall
 be given thirty (30) days prior written notice of any increase in fees. Any increase in fees
 will be acknowledged in writing by both parties before any increase in said fees occurs.
 When an agreement is terminated, all assets may need to be transferred from the current
 custodian. You will be responsible for paying all fees, including full quarterly custodial
 administrative fees, account closure fees, mutual fund fees and all trading costs due to
 termination. A custodian may assess additional fees for transfer of illiquid investments. If
 there is insufficient cash in the account, the liquidation of some securities may be used to
 pay the fees. We will confirm with you the liquidation of securities to pay the fees. Prior to
 termination of an agreement, we can provide a good-faith estimate of these fees.
 ERISA PLAN SERVICES

 The annual fee is negotiable and will be charged based on the total assets under
 management as follows:
                        Assets Under Management               Annual Fee
                             First $1,000,000                   1.00%
                             Next $1,000,000                    0.75%
                             Over$3,000,000                     0.30%

 Fees will be charged quarterly in arrears based on the assets as calculated by the custodian
 or record keeper of the Included Assets (without adjustments for anticipated withdrawals
 by Plan participants or other anticipated or scheduled transfers or distribution of assets). If
 the services to be provided start any time other than the first day of a quarter, the fee will
 be prorated based on the number of days remaining in the quarter or month. If this
 Agreement is terminated prior to the end of the billing cycle, Schulmerich & Associates
 shall be entitled to a prorated fee based on the number of days during the fee period
 services were provided in the billing cycle.
 The fee schedule, which includes compensation of Schulmerich & Associates for the
 services is described in detail in Schedule A of the ERISA Plan Agreement. The Plan is
 obligated to pay the fees, however the Plan Sponsor may elect to pay the fees. Client may
 elect to be billed directly or have fees deducted from Plan Assets. Schulmerich & Associates
 does not reasonably expect to receive any additional compensation, directly or indirectly,
 for its services under this Agreement. If additional compensation is received, Schulmerich
 & Associates will disclose this compensation, the services rendered, and the payer of
 compensation. Schulmerich & Associates will offset the compensation against the fees
 agreed upon under the Agreement.
Client Payment of Fees
 Fees for asset management services and ERISA 3(21) and/or 3(38) services are either
 billed from Plan assets or paid directly to Schulmerich & Associates.
Additional Client Fees Charged
 Custodians may charge transaction fees and other related costs on the purchases or sales of
 mutual funds, equities, bonds, options and exchange-traded funds. Mutual funds, money
 market funds and exchange-traded funds also charge internal management fees, which are
 disclosed in the fund’s prospectus. Schulmerich & Associates does not receive any
 compensation from these fees. All of these fees are in addition to the management fee you
 pay to Schulmerich & Associates. For more details on the brokerage practices, see Item 12
 of this brochure.
Prepayment of Client Fees
 Schulmerich & Associates does not require any prepayment of fees.
External Compensation for the Sale of Securities to Clients
 Investment Advisor Representatives of Schulmerich & Associates receive external
 compensation from sales of investment related products such as insurance as licensed
 insurance agents. This represents a conflict of interest because it gives an incentive to
 recommend products based on the commission received. This conflict is mitigated by
 disclosures, procedures, and Schulmerich & Associates’ fiduciary obligation to place the
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Item 7: Types of Clients
Description
 Schulmerich & Associates generally provides investment advice to individuals, high net
 worth individuals, trusts, estates, or charitable organizations, corporations or business
 entities. Client relationships vary in scope and length of service.
Account Minimums
 Schulmerich & Associates requires a minimum of $100,000 to open and maintain an
 account. This minimum does not apply to retirement accounts and exceptions may be made
 for new accounts that are expected to reach that level in a reasonable period of time.