Summit Creek Advisors LLC

Item 5 – Fees and Compensation

Standard Fees

Advisory fees are paid quarterly in arrears and are calculated on the basis of a percentage of the assets under
management for assets receiving Portfolio Management Services. For assets receiving Strategist Services, the
advisory fees are paid quarterly in arrears and are calculated based upon a percentage of assets using a calculation
formula agreed upon between SCA and the client.

SCA’s basic fee for non sub-advisory accounts investing in the Small Cap Growth product is a 1% annual fee based
on the value of the assets under management. For assets above $50 million, SCA offers fee breaks as outlined in the
below table. Sub-advisory accounts investing in the Small Cap Growth product are typically charged an annual fee
of less than 1% of the value of the sub-advised assets under management. In sub-advisory relationships, SCA may
negotiate the fees set forth above based on factors such as the amount of assets under management.

                               Small Cap Growth Strategy Annual Fee Schedule
                            1% on the first $50 million in assets
                            0.95% on assets above $50 million up to $100 million
                            0.75% on assets over $100 million

The basic fee for SCA’s SMid Cap Growth product is currently a 0.9% annual fee based on the value of assets under
management. Sub-advisory accounts investing in the SMid Cap Growth product are typically charged an annual fee
of less than 0.9% of the value of the sub-advised assets under management. In sub-advisory relationships, SCA
may negotiate the fees based on factors such as the amount of assets under management.

SCA’s basic fee for assets receiving Strategist Services will not exceed a 1% annual fee based on the value of the
assets receiving the Strategist Services. For Strategist Services, SCA will negotiate the actual fee utilizing factors
including the amount of assets invested by the client based on the investment recommendations and updates
provided by SCA. The exact fee for services will be agreed upon and disclosed in the management agreement prior
to services being provided.

If a client terminates their Portfolio Management Services or Strategist Services agreement with SCA during a
quarter, the client will pay a prorated fee based on the actual number of days of the quarter for which services were
rendered.

Fees for Services to Retirement Plan Sponsor Clients

For services to clients that are retirement plan sponsors, SCA typically will charge fees according to the Standard
Fees information as described above. The fee is negotiable based upon the complexity of the plan, the size of the
plan assets and the actual services requested.

SCA does not reasonably expect to receive any other compensation, direct or indirect, for its services provided to
clients that are retirement plan sponsors. If we receive any other compensation for such services, we will (i) offset
that compensation against our stated fees, and (ii) will disclose the amount of such compensation, the services
rendered for such compensation and the payer of such compensation.

General Information on Fees

Brokerage commissions and/or transaction ticket fees charged by the custodian will be billed directly to the client.
SCA will not receive any portion of such commissions or fees from the custodian or client. In addition, clients may

Summit Creek Advisors, LLC                                                                       Disclosure Brochure

incur certain charges imposed by third parties other than SCA in connection with investments made through the
account, including but not limited to IRA and qualified retirement plan fees.

Employee Accounts managed by SCA are not subject to any investment management fees. Fee waivers or discounts
may also be offered to SCA employees’ family members, which are not available to other clients.

Clients should note that similar advisory services may be available from other registered investment advisors for
similar or lower fees.

Item 7 – Types of Clients

SCA generally provides investment advice to the following types of clients.

         •         Individuals (other than high net worth individuals)
         •         High Net Worth Individuals
         •         Pooled Investment Vehicles
         •         Pension and profit-sharing plans (ERISA and Non-ERISA)
         •         Trusts, estates, or charitable organizations (including foundations, endowments)
         •         State/Municipal Government Entities
         •         Corporations or business entities other than those listed above
         •         Banking Institutions
         •         Collective Investment Trusts

All clients must enter into a written investment advisory agreement before the commencement of any investment
advisory relationship with SCA.

Minimum Investment Amounts Required

SCA generally requires that clients have assets of $5 million or more. However, smaller accounts may be solicited
or accepted at the discretion of SCA. There are no minimum fees.