ZEGA Investments LLC

Item 5 Fees and Compensation
Portfolio Management Services
Our fee for portfolio management services is based on a percentage of your assets we manage and
ranges from 0.50% to 1.75% with a $1,000 minimum fee.

The fee is negotiable depending upon the complexity and scope of the plan, your financial situation,
and your objectives. Various factors may affect the fee we charge and will be discussed with you prior
to the engagement. In general, these factors include, but are not limited to: the types of investments
you own and mix of products you hold; the size and value of your account; your service preferences;
and the frequency with which you trade. When calculating our fee, these factors are analyzed much as
you would expect. So, for example, if the investments you own and the services you require from us
require more skill and expertise on our part, you could expect your fee to be higher.

Depending on the arrangements made at the inception of the engagement, we may agree to either bill
our annual portfolio management fee quarterly or monthly, in advance or arrears, based on either the
average balance over the prior billing period or based on the value of your account on the last day of
the previous billing period.

If the portfolio management agreement is executed at any time other than the first day of a calendar
quarter, our fees will apply on a pro rata basis, which means that the advisory fee is payable in
proportion to the number of days in the quarter for which you are a client. Our advisory fee is
negotiable, depending on individual client circumstances.

At our discretion, we may combine the account values of family members living in the same household
to determine the applicable advisory fee. For example, we may combine account values for you and
your minor children, joint accounts with your spouse, and other types of related accounts. Combining

account values may increase the asset total, which may result in your paying a reduced advisory fee
based on the available breakpoints in our fee schedule stated above.

We will send you an invoice for the payment of our advisory fee, or we will deduct our fee directly from
your account through the qualified custodian holding your funds and securities. We will deduct our
advisory fee only when you have given our firm written authorization permitting the fees to be paid
directly from your account. Further, the qualified custodian will deliver an account statement to you at
least quarterly. These account statements will show all disbursements from your account. You should
review all statements for accuracy. We will also receive a duplicate copy of your account statements.

The Client may terminate the portfolio management agreement within five business days of the date of
acceptance without penalty to the Client. After the five-day period, you may terminate the portfolio
management agreement upon 30-days' written notice to our firm. Advisory fees are payable quarterly
and calculated in arrears. Consequently, advisory fees are not pre-paid in advance and a refund in the
event of account termination is not applicable.

We encourage you to reconcile our invoices with the statement(s) you receive from the qualified
custodian. If you find any inconsistent information between our invoice and the statement(s) you
receive from the qualified custodian please call our main office number located on the cover page of
this brochure.

Sub-Advisory Services
Fees and payment arrangements are negotiable and will vary on a case-by-case basis. Depending on
the arrangements made at the time of the engagement with the Primary Adviser, our fee may be
included as part of the fee charged by the Primary Adviser (in which case we could be said to "share"
in the fee charged by the Primary Adviser, or our fee may be in addition to that charged by the Primary
Adviser. In either case the fee charged is generally a fixed percentage of assets under management.

Model Portfolios
Financial professionals utilizing our model portfolios pay an annual fee that ranges from 20-35 basis
points depending on the investment strategy implemented. These fees are described in the various
client agreements.

Financial Planning
Fixed Fee
The Adviser’s fee for the development and delivery of a comprehensive financial plan is $1,500 for
financial plans of basic complexity, which include standard personal finances such as basic budgeting,
simple investment reviews, and general retirement projections (e.g., single income source, limited
assets, no complex tax or estate issues). The fee shall be due upon execution of this Agreement or
upon delivery of the financial plan, whichever occurs first. However, the financial planning fee shall be
waived if the Client transfers or deposits Assets under management with the Adviser totaling $250,000
or more within 90 days of executing this Agreement.

Hourly Fees
The hourly fee for these services is $250 for financial plans of moderate or high complexity, which
include factors such as multiple income streams, diversified investment portfolios, significant tax
planning, complex estate planning, business ownership, family dynamics. Fees are paid fifty percent
in advance, but never more than six months in advance, with the remainder due upon presentation of
the plan. Fees that are charged in advance will be refunded based on the prorated amount of work
completed at the point of termination. Clients may terminate their contracts without penalty within five
business days of signing the advisory contract.

Insurance
In addition to providing investment advice and financial planning on behalf of our firm, Kenneth
Luckinbill is also licensed as an independent insurance agent operating under Luckinbill Financial
Advisors. Mr. Luckinbill will earn commission-based compensation for selling insurance products,
including insurance products he sells to you. Insurance commissions earned by Mr. Luckinbill are
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Item 7 Types of Clients
We offer investment advisory services to individuals, other investment advisers, trusts, estates,
charitable organizations, corporations, and other business entities.

Investors must execute an advisory agreement with ZEGA to open an account. Although there are
currently no minimum account sizes, we reserve the right to terminate your account if it becomes, in
our sole opinion, too small to effectively manage. We typically charge a minimum fee which is
negotiable depending on the account size but which will, in no event, exceed 3% of the account value.