Bimini Advisors LLC

Item 5 Fees and Compensation
Our fee for services is based on a percentage of the stockholder's equity of OIC, adjusted to exclude
the effect of any unrealized gains or losses included in retained earnings or other comprehensive
income (each computed in accordance with generally accepted accounting principles) in accordance
with the following schedule:

Amount of Stockholder's Equity         Annual Fee %
Up to $250 million                       1.50%
$250 million - $500 million              1.25%
Over $500 million                        1.00%

Our annual fee is billed and payable monthly in arrears based on the amount OIC's stockholder's
equity on the last day of the month at 1/12 of the percentage listed in the above table. We invoice OIC
monthly for payment of our advisory fees and the advisory fee is payable within 5 days after the date of
delivery of the invoice.

The management agreement with OIC may be terminated without cause upon 180 days written notice
subject to the payment of a termination fee to our firm. The management agreement with OIC may be
terminated with cause upon 30 days written notice in which case no termination fee shall be payable.
OIC will incur a pro rata charge for services rendered prior to the termination of the agreement, which
means it will incur advisory fees only in proportion to the number of days in the month for which OIC
was a client.

Additional Fees and Expenses
We also provide certain repurchase agreement trading, clearing and administrative services to OIC. In
consideration for such services, OIC pays the following fees:
    • a daily fee equal to the outstanding principal balance of repurchase agreement funding in place
       as of the end of such day multiplied by 1.5 basis points for the amount of aggregate outstanding
       principal balance less than or equal to $5 billion, and multiplied by 1.0 basis point for any
       amount of aggregate outstanding principal balance in excess of $5 billion, and
    • a fee for the clearing and operational services provided by us equal to $10,000 per month.

OIC also incurs 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
transactions are executed. We do not share in any portion of the brokerage fees/transaction charges
imposed by the broker-dealer or custodian. We are also entitled to be reimbursed by OIC for certain
costs which are incurred by our firm in connection with providing the services to OIC as described
above.

Item 7 Types of Clients
We provide investment management services to Orchid Island Capital, Inc. a publicly traded specialty
finance company.