10X Capital Partners LLC

Item 5. Fees and Compensation

A. Advisory Fees and Compensation

Asset-Based Compensation

The Adviser is generally paid an asset-based investment management fee ranging from 1.5% - 2.0% per
annum of the net assets of client accounts. In addition, the Adviser (or an affiliate of the Adviser) may also
be entitled to warrants to purchase shares of the client’s common stock.

Asset-based compensation is charged each month based on the total market value of the assets in the
client account on the last day of the month. If a new client account is established during a month or a
client makes an addition to its account during a month, the asset-based investment management fee will
be prorated. If a client’s investment management agreement is terminated during a month, the fee
payable to the Adviser will be calculated based on the value of the assets on the termination date and
prorated for the number of days during the month in which the investment management arrangement was
in effect or such amount was in the account.

These fees are generally negotiable and the final fee schedule will be memorialized in the relevant client’s
advisory agreement or other relevant governing documents.

Performance-Based Compensation

The Adviser may also be paid performance-based compensation, which is compensation that is based on
a share of capital gains on or capital appreciation of the assets of a client account. This compensation may
be paid to the Adviser or to a related person of the Adviser.

B. Payment of Fees. Investment management fees are deducted directly from client accounts on a monthly
basis. The client may select an alternative method by which it would like to pay the investment management
fee.

C. Other Fees and Expenses. In addition to paying investment management fees and, if applicable,
performance-based compensation, client accounts will also be subject to other investment expenses in
accordance with the client’s investment management agreement or other governing documents such as
custodial charges, bank service fees, brokerage fees, commissions and related costs; interest expenses
and withholding or transfer taxes incurred in connection with trading for a client account; taxes, duties and
other governmental charges; clearing and settlement fees; transfer and registration fees or similar
expenses; costs associated with foreign exchange transactions; other portfolio expenses; and costs,
expenses and fees (including, investment advisory and other fees charged by investment advisers with, or
funds in, which the client’s account invests) associated with products or services that may be necessary or
incidental to such investments or accounts. Client account assets may be invested in pooled investment
vehicles. In these cases, client accounts will bear their pro rata share of the underlying pooled investment
vehicle’s operating and other expenses including, in addition to those listed above: sales expenses, legal
expenses; internal and external accounting, audit and tax preparation expenses; and organizational
expenses. Client accounts will also bear their pro rata share of the investment management fee and other
fees of the underlying pooled investment vehicle, which are in addition to any fees or other compensation
paid to the Adviser. In addition, client accounts will incur brokerage and other transaction costs. Please
refer to Item 12 of this brochure for a discussion of the Adviser’s brokerage practices.

The allocation of expenses by the Adviser between it and any client and among clients represents a conflict
of interest for the Adviser. The Adviser allocates expenses to each client in accordance with the client's
arrangements with the Adviser (including applicable client disclosures). The Adviser seeks to allocate
shared expenses for products and services benefitting the Adviser and the client and not covered in the
client's arrangements in a fair and reasonable manner. The Adviser allocates common client expenses
among multiple clients pro rata based on gross assets under management as of the beginning of each
semi-annual period in which the expenses are paid. The Adviser may deviate from this standard allocation
method if it determines that an expense disproportionately benefits a particular client or group of clients.

D. Prepayment of Fees.

The clients may pay the Adviser’s fees in advance or in arrears in accordance with the client’s investment
management agreement or other governing documents.

E. Additional Compensation and Conflicts of Interest.

A supervised person of the Adviser receives compensation in connection with the sale of certain investment
products as further described below. In the future, the Adviser and/or one or more supervised persons may
receive similar compensation directly or indirectly in connection with the sale of securities or other
investment products, including initial or contingent sales charges, asset-based sales charges, revenue-
sharing payments or service fees. This additional compensation creates a conflict of interest because the
Adviser and/or its supervised person have an incentive to recommend these securities or other investment
products based on the compensation received, rather than on a client’s needs. Furthermore, if a supervised
person of the Adviser purchases or recommends mutual fund investments in share classes that pay sales
charges to such supervised person or other persons affiliated with the Adviser, this creates a conflict of
interest because it gives such persons a financial incentive to purchase or recommend higher-cost share
classes rather than lower-cost share classes. Clients should not assume that they will be invested in the
share class with the lowest possible expense ratio. Clients may not, in any particular case, pay charges
directly; rather, these charges may be deducted from a client account’s assets and therefore reduce a
client’s investment returns.
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Item 7. Types of Clients

The Adviser’s clients currently consist of corporations and other business entities, but the Adviser may, in
the future, organize private investment funds or enter into relationships with corporations, trusts or
additional other business entities that utilize similar or different investment strategies than its current clients.

The Adviser does not have any requirements for opening or maintaining an account.

Any additional terms with respect to a particular client relationship, including initial and additional
subscription minimums, will be governed by the governing documents applicable to the particular client
relationship.