Zevin Asset Management LLC

Item 5: Fees and Compensation

For customized DISCRETIONARY ACCOUNTS our fee schedule is:

Personal and taxable accounts:
First $2 million                         1.00%
Over $2 million through $10 million:     0.75%
Over $10 million through $50 million:    0.50%
Over $50 million:                        0.45%

For customized Institutional accounts:
First $2 million                         0.75%
Over $2 million through $10 million      0.65%
Over $10 million through $50 million:    0.50%
Over $50 million:                        0.45%

       For discretionary accounts, fee levels, minimum annual fees, and minimum account sizes
are negotiable at the discretion of ZAM.

     NON-DISCRETIONARY advisory services are currently provided only to employees of
ZAM in their capacity as trustees or co-trustees of various trusts. In most circumstances these

employee trustees pay ZAM a fee equal to 90% of their own trustee fees in excess of a specified
minimum per trust but the arrangements are negotiable in each circumstance.

        We also offer non-customized strategies for equity accounts (called Global Appreciation
and Global Equity) and balanced accounts (called Global Appreciation with Income) through the
brokerage firm Goldman Sachs, also described under Item 4. This strategy is based on making
transactions in a single “model” portfolio that are then automatically implemented by Goldman
Sachs on a pro-rata basis in the client portfolios that have subscribed to the strategy. The minimum
account size for this strategy is different from the customized minimum account sizes above and
is recommended at $50,000. The minimum account size at Goldman Sachs is negotiable at the
discretion of ZAM and the client and the fee varies according to whether the client has come
directly to ZAM requesting to be invested in Goldman Sachs or whether they have come through
Goldman Sachs via a separate investment advisor, financial planner, or other investment
professional. For Goldman Sachs clients that come to us directly the fee is 1% of the market value
of the portfolio, billed quarterly in arrears. ZAM has negotiated lower fees for clients that come
to Goldman Sachs via other financial professionals since, among other things, the client service
and most other client communication is typically provided by the other financial professionals.
We participate in similarly structured programs Charles Schwab (Marketplace), Pershing
Investments (Lockwood),

         For all accounts where the client pays us directly, except for those at Goldman Sachs, our
fee is calculated based on the market value of assets under management at the end of each calendar
quarter and fees are billed and payable quarterly in arrears (which means after the quarter in which
we have provided management services). Goldman Sachs calculates both their fees and our fees
based on the average daily account value over the preceding quarter. Fees are typically deducted
from clients’ accounts by the brokerage firm, although arrangements can be made to bill the client
directly if the client chooses. All management fees are negotiable based on a number of factors,
including but not limited to the client’s specific investment program, tax planning or other goals,
the liquidity of the account assets, the mix of securities in the account, and the nature of the client
(e.g., whether the client is institutional or an individual, whether the client is related to other clients,
is a charitable organization, or is a relative or family member of an employee, for example).

        Clients may also incur fees or expenses directly from their custodian or brokerage firm,
including commissions from a broker each time a security is purchased or sold, and, if the account
is placed with an independent custodian, the client may incur a separate custodial charge, typically
quarterly, from the custodian. There may also be fees for holding mutual funds (mutual fund fees
are usually expressed as an “expense ratio”), and depending on a number of factors, ZAM may or
may not include mutual funds in the portion of the portfolio subject to its management fees. ZAM
does not collect a separate commission or additional fee from a client who uses mutual funds,
exchange traded funds, or stocks or bonds other than the quarterly management fee described
above.

        Clients may terminate their advisory agreements at any time and will be charged only for
the pro rata portion of our quarterly fee through the date the account is terminated.

         Clients have the option of purchasing securities we recommend directly from other
securities brokerage firms on their own; however, since we typically purchase and sell securities
without first obtaining client approval direct client purchases or sales would likely be subsequent
to the time they were executed in our client accounts and would likely be at different prices.

       ZAM may, under certain circumstances, charge hourly fees for certain services. Please see
Item 14 for additional information.

       Unless agreed otherwise, any and all account asset classes, including cash positions, are
included in the firm’s advisory fee calculation. At certain times our advisory fee may exceed the
money market yield for cash assets.

Item 7: Types of Clients

        Zevin Asset Management, LLC provides investment advice to individuals, trusts,
corporations and other types of business organizations, non-profits, foundations, partnerships,
endowments, and non-taxable retirement accounts such as 401(K) accounts, IRA’s, and pension
plans, among others. Our minimum account size for customized accounts is $1,500,000.00 for
individual accounts and $2,000,000.00 for institutional accounts. Smaller accounts from the same
or closely related clients can be bundled together to reach the stated minimum account size or fee.
The minimum account size, the amount of our fee, and the minimum required fees are negotiable
at the discretion of ZAM.