B&D White Capital Company LLC

Item 5 Fees and Compensation
A. Fee Schedule

Asset-Based Fees for Portfolio Management

Our annual fee for Portfolio Management, Family Office and Wealth Planning Services ranges from
0.25% to 2.5% depending upon the market value of your assets under our management, the type and
complexity of the asset management services provided, as well as the level of administration
requested either directly or assumed by the client. Assets in each of your account(s) are included in
the fee assessment unless specifically identified in writing for exclusion.

These fees are generally negotiable and the final fee schedule is included in the Investment Advisory
Agreement. If the appropriate disclosure brochure was not delivered to the client at least 48 hours prior
to the client signing the Investment Advisory Agreement, the Investment Advisory Agreement may be
terminated by the client within five (5) business days after entering into the Investment Advisory
Agreement. Thereafter, clients may terminate the Investment Advisory Agreement immediately upon
written notice.

BDW Capital's annual portfolio management fee is billed based upon the value of client's accounts
(including securities, cash and margin) on the last business day of the previous billing period and will
become due the following business day.

If the portfolio management agreement is executed at any time other than the first day of a calendar
month or 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 month or 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 you paying a reduced advisory fee.

You may terminate the portfolio management agreement upon 30 days written notice. You will incur a
pro rata charge for services rendered prior to the termination of the portfolio management agreement,
which means you will incur advisory fees only in proportion to the number of days in the month or
quarter for which you are a client. If you have pre-paid advisory fees that we have not yet earned, you
will receive a prorated refund of those fees.

B. Payment of Fees

Payment of Asset-Based Portfolio Management Fees

Asset-based portfolio management fees are withdrawn directly from the client's accounts with client's
written authorization on a monthly or quarterly basis. Clients may select the method in which they are
billed. Fees are paid either in advance or in arrears (i.e., after services are rendered).

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 the following requirements are met:

    • You provide our firm with written authorization permitting the fees to be paid directly from your
      account held by the qualified custodian.
    • The qualified custodian agrees to send you a statement, at least quarterly, indicating all
      amounts disbursed from your account including the amount of the advisory fee paid directly to
      our firm.

C. Client Responsibility for Third Party Fees

Clients are responsible for the payment of all third party fees (i.e. custodian fees, brokerage fees,
mutual fund fees, transaction fees, etc.). Those fees are separate and distinct from the fees and
expenses charged by BDW Capital. These fees will generally include a management fee and other
fund expenses. You will also incur transaction charges and/or brokerage fees when purchasing or
selling securities. These charges and fees are typically imposed by the broker-dealer or custodian
through whom your account transactions are executed. We do not share in any portion of the
brokerage fees/transaction charges imposed by the broker-dealer or custodian. To fully understand the
total cost you will incur, you should review all the fees charged by mutual funds, exchange traded
funds, our firm, and others. Please see Item 12, Brokerage Practices, of this brochure regarding our

Item 7 Types of Clients
BDW Capital generally provides advisory services to the following types of clients:

    • Individuals
    • High-Net-Worth Individuals
    • Family Office Groups

Minimum Account Size

There is no account minimum for any of BDW Capital's services; however, we have the right to
terminate your account if it falls below a minimum size which, in our sole opinion, is too small to
manage effectively.

We may also combine account values for you and your minor children, joint accounts with your
spouse, and other types of related accounts to meet the stated minimum.