Summa Corp

ITEM 5: FEES, COMPENSATION AND TERMINATION OF SERVICES

A. Description of Compensation and Basic Fee Schedule

        Advisory Fee
        Advisory fees may be at a fixed rate or based on the market value of the assets under
management (“AUM”) for each Account and will be assessed quarterly, either in advance or
arrears. The advisory fees payable to Summa that are based on AUM, are computed on an annual
percentage of: (i) 1% of assets under management (“AUM”) for Equity and Balanced accounts;
and (ii) .75% of AUM for Fixed Income accounts under $2 Million USD. For accounts over $2
million Summa will negotiate the annual percentage with the client. Fees can are either calculated
by multiplying the assets by the relevant percentage and dividing such product by four, or
calculated daily as the annualized percentage agreed multiplied by the net liquidation value of the
account(NLV/Equity Annualized percentage agreed/ 252 trading days of the year), depending
upon the terms set forth in your advisory agreement The advisory fee includes payment for: (i)
investment advisory services provided by Summa pursuant to this Agreement; (ii) administrative
services such as computing, billing and collection of account fees, including the advisory fee for
services provided under this Agreement, (iii) administrative services to include, but not limited to,
the processing of deposits and withdrawals from the Account pursuant to the Client’s instruction;
and (iv) the issuance of monthly and/or quarterly account statements.

        Portfolio Consulting Fees
        The portfolio consulting fees payable to Summa are on a fixed-fee basis, payable quarterly
in arrears as specified in the agreement between the two parties. Summa stipulates a minimum
dollar value of assets under management of $500,000 to provide proper diversification to its
customers. Advisory Fees may be negotiated for accounts over $2,000,000.

B. Payment of Fees

The fees are payable quarterly in advance or arrears as agreed to with client and memorialized in
the Investment Advisory Agreement. Fees are invoiced and, at the client's direction, may be
deducted from client's account(s) quarterly within 30 days following the expiration of the quarter
for which said fees will be incurred. In the event the agreement is terminated prior to the end of
the quarter, the advisory fee shall be prorated and refunded proportionately within two weeks of
termination.

The Firm has also entered into a fixed fee consulting arrangement. Fees are invoiced quarterly in
advance, and Client remits payment to the company. In the event the agreement is terminated prior
to the end of the quarter, the advisory fee shall be prorated and refunded proportionately within
two weeks of termination.

C. Other Fees

The Advisory fee does not include: (i) brokerage commissions on all agency transactions for the
Client Account, except for those transactions ordered directly by Client and those processed after
notice of Agreement termination is provided; or (ii) custodial and clearing services with respect to
the Account, as applicable.

D. Prepayment of Fees

Clients may pay fees in advance if requested. In the event this Agreement is terminated prior to
the end of a quarter, all advisory fees paid in advance shall be prorated and refunded
proportionately within two weeks of termination.

E. Other Compensation

Summa has a fixed-fee contract with an international investment advisor and other investors,
wherein Summa provides general investment advice for an annual fee. Neither Summa nor its
supervised persons accept any other compensation/commission for the recommendation of
securities or non-securities products, including asset-based sales charges or service fees from the
sale of mutual funds or insurance products.

ITEM 7: TYPES OF CLIENTS

Summa provides portfolio management services to individuals, high net worth individuals, other
investment advisors, corporations, and other business entities.