H M Payson & Co

Item 5 – Fees and Compensation

The Firm manages client portfolios for a fee based upon the market value of the assets. Fees are
computed as a percentage of the market value of the assets under management and include cash, cash
equivalents, money market funds or other mutual funds and are assessed monthly in arrears. Below is
our current fee schedule:

     Annual Fees: 1.00% (.010) on first $1,000,000 Market Value
                   .60% (.006) on $1,000,000 to $5,000,000 Market Value
                   .40% (.004) over $5,000,000 Market Value
                   .25% (.0025) on all assets for clients that Machias Savings Bank refers to the Firm

Related accounts, including those within a household or belonging to the same "Client Service Unit"
(CSU), may be consolidated for fee calculation purposes. The annual minimum fee for each CSU is
$10,000. Certain long-standing accounts may be grandfathered at a lower fee rate which was applicable
at the time the account was opened. Certain fee exceptions may also exist or be granted based upon
extenuating circumstances specific to each client. Qualified charitable organizations are typically
accorded a 10% discount off the fee schedule. Any request by a client or portfolio manager for a fee
exception must be presented to and approved by the Firm’s Fee Exception Committee.

                                            Payson Choice Fees:

Payson Choice manages client portfolios for a fee based upon the market value of the assets. Fees
are computed as a percentage of the market value of the assets under management and include cash,
cash equivalents, money market funds or other mutual funds and are assessed monthly in arrears. Below
is our current fee schedule:

     Payson Choice Annual Fees: 1.00% of Market Value

                                  H.M. Payson Private Markets, LP Fees:

The Fund will pay an investment management fee to the Investment Advisor in consideration of the
advisory and other services provided by the Investment Advisor to the Fund (the “Management Fee”).
The Management Fee will be paid quarterly in arrears in an amount equal to 0.6% on an annualized basis
of the NAV of the Fund at each quarter end (for the avoidance of doubt, excluding the amount of any
undrawn Commitments).

H.M. Payson has agreed to reduce the Management Fee by fifty percent (50%) during the first two years
of the Fund’s life.

For clients for whom we also serve as custodian, we deduct fees directly from the client account. (see

Item 7 – Types of Clients

The Firm provides investment advice to individuals including high net worth individuals, institutions,
investment companies, pension & profit sharing plans, trusts, estates, foundations, charitable
organizations, a private equity fund, municipalities, and various corporate and business entities. The Firm
does not have any specific requirements for opening or maintaining an account. However, the Firm does
reserve the right to negotiate such terms depending upon the circumstances presented. In general, clients
with less than $1,000,000 in assets will be managed through Payson Choice.