The standard fees payable to Advisor for the Investment Management Services are equal toa specified percentage, as set forth below, computed on an annual basis based upon thevalue of the Client's account. Such fees are billed on a quarterly basis, and are determined inaccordance with the following schedule:

Account Assets

Annual Fee (as Percentage of Assets)

First $500,000

1.30%

Next $500,000 ($500,001 to $1,000,000)

0.85%

Next $1.0 million ($1,000,001 to $2,000,000)

0.70%

Next $1.0 million ($2,000,001 to $3,000,000)

0.55%

Next $1.0 million ($3,000,001 to $4,000,000)

0.40%

Next $1.0 million ($4,000,001 to $5,000,000)

0.30%

Over $5 million

0.20%