Penobscot Wealth Management

Item 5 – Fees and Compensation
The following paragraphs detail the fee structure and compensation methodology for services provided by the
Advisor. Each Client engaging the Advisor for services described herein shall be required to enter into a written
agreement with the Advisor.

 A. Fees for Advisory Services
Wealth Management Services
For Clients engaged for comprehensive wealth management services, the Client will be charged a single combined
fee for asset management and financial planning services based on the market value of assets under management.
Wealth management fees are paid quarterly in advance pursuant to the terms of the wealth management agreement.
Fees for wealth management services in the Penobscot Wrap Fee Program are based on the following tiered schedule:

                              Assets Under Management ($)                  Annual Rate (%)
                              0 to $1M                                         1.00%
                              $1m-$5m                                          0.60%
                              $5m+                                               0.40%

Penobscot Financial Advisors will cover transaction fees incurred as a result of their discretionary management of the
account. The transaction expenses will be paid for at the time incurred when possible. In instances where the
custodian does not permit the expense to be charged directly to the Advisor, the Advisor will reimburse the client for
trading costs incurred by rebating the following quarter’s management fee.

The wealth management or investment advisory fee in the first quarter of service is prorated from the inception date of
the account[s] to the end of the first quarter. Fees may be negotiable at the sole discretion of the Advisor. The Client’s
fees will take into consideration the aggregate assets under management with Advisor. All securities held in accounts
managed by Penobscot Financial Advisors will be independently valued by the Custodian. Penobscot Financial
Advisors will not have the authority or responsibility to value portfolio securities. There is a minimum annual fee ranging
from $4,800-$7,200 based on household assets, excluding primary residence and complexity.

Financial Planning Services
Penobscot Financial Advisors offers financial planning services for a fee up to $7,200, which can be paid on a monthly,
quarterly, or annual basis for the client's convenience. The fees are negotiable at the Advisor's sole discretion based
on the nature of complexity of the services to be provided and the overall relationship with the Advisor. There is
currently a waitlist for new clients receiving financial planning services. To be added to the waitlist, the prospective
client will need to pay a deposit equal to 1 month of financial planning fees to reserve a spot on the waitlist. In the
event they do not become a client, the deposit will be forfeited.

                                       Household Assets                Annual Fee
                                      (Excluding Primary                (Year 1)
                                          Residence)
                                     $1m+                                 $7,200
                                     $500k to $1M                         $6,000
                                     Less than $500k                      $4,800

UMS Financial Planning Services
Penobscot Financial Advisors offers a one-time, limited financial plan for University of Maine employees for a fee of
$100 paid upfront, in full. The fees are non-negotiable and non-refundable.

Retirement Plan Advisory Services Fees
Retirement plan advisory services fees are charged a flat rate of up to 0.50%, payable quarterly, in arrears of each
calendar quarter.
  B. Fee Billing
Wealth Management Services
Wealth management and investment advisory fees are calculated by the Advisor or its delegate and deducted from the
Client’s account[s] at the Custodian. The Advisor shall send an invoice to the Custodian indicating the amount of the
fees to be deducted from the Client’s account[s] at the respective quarter-end date. The amount due is calculated by
                                                                                                                      P a g e |8
                                Penobscot Wealth Management d/b/a Penobscot Financial Advisors
                            One Monument Square, Suite 501 Portland, ME 04101, Phone: (207) 990-1901
                                                    www.penobscotfa.com

applying the quarterly rate (annual rate divided by 4) to the total assets under management with Penobscot Financial
Advisors at the end of the prior calendar quarter. Clients will be provided with a statement, at least quarterly, from the
Custodian reflecting deduction of the advisory fee. It is the responsibility of the Client to verify the accuracy of these
fees as listed on the Custodian’s brokerage statement as the Custodian does not assume this responsibility. Clients
provide written authorization permitting Penobscot Financial Advisors to be paid directly from their account[s] held by
the Custodian as part of the wealth management or investment advisory agreement and separate account forms
provided by the Custodian.

Financial Planning Services
Annual financial planning fees can be paid upfront, semi-annually or monthly. Invoices will be provided to the Client
which can be paid by check, debit or credit card payments. In the event of upfront payment, Penobscot Financial Advisors
will not bill more than $1,200, six months or more in advance of delivery of the service.

UMS Financial Planning Services
A financial planning fee of $100 will be due in full at the time of engaging in financial planning services. Invoices
will be provided to the Client which can be paid by check, debit, or credit card payment.

Retirement Plan Advisory Services Fees
...

Item 7 – Types of Clients
Penobscot Financial Advisors offers investment advisory services to individuals, high net worth individuals, trusts,
estates, charitable organizations, and retirement plans. The amount of each type of Client is available on Penobscot
Financial Advisors’ Form ADV Part 1A. These amounts may change over time and are updated at least annually by
the Advisor. Penobscot Financial Advisors does not impose a minimum asset size for establishing a relationship.
Penobscot Financial Advisors does impose a minimum annual fee which is based off the Client’s Household Net
Worth, excluding their primary residence. Please see Item 5 for further information.