White Pine Investment Company

Item 5: Fees and Compensation

    Description

    WPIC's standard fee is based on the following schedule:

                                         Annual
                                          Fee
              Value of Account            Rate
                0 - $500,000              1.10%
          $500, 001 - $1,000,000          0.90%
          $1,000,001 - $2,000,000         0.70%
          $2,000,001 - $4,000,000         0.60%
          $4,000,001 - $8,000,000         0.45%
         $8,000,001 - $12,000,000         0.30%
           $12,000,001 and over           0.15%

   WPIC establishes the specific manner in which we charge our fees in the written
   investment management agreement signed prior to beginning our relationship with
                                   Annual fee is inclusive of any financial planning
   the client. Our investment management                                       Annual
                                     Fee as part of our investment management
   advice or financial plan we may provide                                      Fee
             Value
   services to      of Account
                a client.            Rate             Value of Account          Rate
                 0 - $500,000                1.10%                  0 - $500,000             1.10%
    Investment management fees are negotiable. WPIC in its sole discretion, may
    waive$500,    001 - $1,000,000
            its minimum                      0.90%
                             investment management         fee$500,  001
                                                                and/or    - $1,000,000
                                                                        charge   a lesser fee0.90%
                                                                                              based
    upon $1,000,001
           certain criteria    (e.g., historical
                        - $2,000,000         0.70%relationship, type of assets,
                                                              $1,000,001          anticipated0.70%
                                                                           - $2,000,000        future
    earning capacity, anticipated future additional assets, dollar amounts of assets to
           $2,000,001
    be managed,         - $4,000,000
                     related                 0.60% composition,
                                accounts, account             $2,000,001   - $4,000,000
                                                                      negotiations           0.60%
                                                                                     with clients,
    etc.). $4,000,001
           WPIC may- $8,000,000
                          change our fees      at any time and
                                             0.45%                we always
                                                              $4,000,001       have the right0.45%
                                                                           - $8,000,000        to
    amend our fees to be lower than the fees set forth above. Any changes will
         $8,000,001
    become             - $12,000,000
               effective   after we provide  0.30%           $8,000,001
                                                the client with  30 day’s- prior
                                                                            $12,000,000      0.30%
                                                                                 written notice
    unless$12,000,001
             the client terminates
                            and over our agreement.
                                             0.15%              $12,000,001 and over         0.15%
    Fee Billing

                                White Pine Investment Company
                                          Annual                                           Annual
                                           Fee                                              Fee
              Value of Account             Rate                Value of Account             Rate

WPIC bills investment management fees quarterly, in advance, meaning that
WPIC will invoice clients before the three-month billing period has begun. Our
fee will be one-fourth of the applicable annual fee rate set forth above multiplied
by the fair market value of the assets in the client’s account, determined by WPIC
on the last trading day of each calendar quarter. Payment in full is expected upon
invoice presentation. For new accounts, WPIC prorates the fee based on the
number of days the investment management agreement was in effect during the
initial calendar quarter. We do not adjust our fee based on your additions or
withdrawals during the quarter.

Direct Billing to Client Custodian

Fees are usually deducted from a designated client account to facilitate billing.
Clients of WPIC must consent in advance to direct debiting of their investment
account. If a client provides WPIC such authorization, the client will receive
periodic statements from their custodian showing each fee deduction from their
account. Clients may withdraw this authorization for direct billing of these fees at
any time by notifying us or their custodian in writing.

Flat Fee Arrangements

Clients engaging estate planning services may incur additional fees. These fees
are separate from and in addition to our advisory fees.

For certain services, the Client may be charged a fixed flat fee (the “Flat Fee”),
the specific scope of work and exact amount of which will be agreed upon in a
separate written Statement of Work or Addendum to this Agreement. Flat fees
are generally billed in arrears and are due upon receipt of the invoice. Unless
otherwise agreed in writing, these Flat Fees are separate from, and in addition
to, the asset-based management fees described in this Section.

Other Fees
...

Item 7: Types of Clients

                            White Pine Investment Company

    Description

    WPIC generally provides investment advice to individuals, pension and profit
    sharing plans, trusts, estates, or charitable organizations, corporations, or
    business entities.

    Account Minimums

    The minimum account size is $500,000 of assets under management. WPIC has
    the discretion to waive the account minimum. Accounts of less than $500,000
    may be set up when the client and the advisor anticipate the client will add
    additional funds to the accounts bringing the total to $500,000 within a
    reasonable time. Other exceptions will apply to employees of WPIC and their
    relatives, or relatives of existing clients.