For the period January 1, 2003 - December 31, 2003, the annual fee for membership to the Socrates Academy shall be as follows:

For individual members:

US$100.

For nonprofit and educational institutions:

US$500.

For corporations:

US$1,000.

Special privileges will be accorded to Founding Members including waiver of all annual fees. The membership fee to become a Founding Member is as follows:

For individual members:

US$1000.

For non profit and educational institutions:

US$5,000.

For corporations:

US$10,000.

Not for profit institutions and for-profit corporations may each choose up to five persons to represent their institution; each such person shall be accorded the same rights as all other (individual) members.