Fee structure:

 $0 - $100,000:                              1.50%
 $100,000 - $250,000                    1.25%
 $250,000 - $1,000,000                 1.00%
 $1,000,000 - $5,000,000                .75%
 $5,000,000+                                    .50%        
Fees
 We are generally paid using a fee-based or asset-based pricing
structure.  Religious organizations, start up endowments, and other
smaller non-profits, may receive discounted portfolio management
services.  Please contact us for more information on fees.
Kodiak Investment Management
Balance    Integrity    Wisdom    Trust     Discipline
Securities offered through NEXT Financial Group, Inc. (NEXT), member FINRA, SIPC, a registered Investment Advisor. Kodiak Investment Management is not an affiliate of Next
Financial Group.  Neither NEXT Financial Group, Inc. nor its representatives are qualified to give tax or legal advice.  Please consult your tax or legal professional regarding your
particular situation.  Kodiak Investment Management, 16 2nd St NE Aitkin, MN, 56431 Phone: 218-927-1800, Fax: 218-927-1803.  To view NEXT Financial Group's privacy policy and
other important information, visit the "Clients" section of www.nextfinancial.com.    www.SIPC.org   www.finra.org
©2007 Kodiak Investment Management All Rights Reserved