Asset Management Consulting Services Inc

Item 5 Fees and Compensation
Selection of Independent Portfolio Managers

If the client engages an Independent Portfolio Manager recommended by AMCS, AMCS shall be
compensated by receipt of a referral fee to be paid by the Independent Portfolio Manager in
accordance with the requirements of Rule 206(4)-3 of the Investment Advisers Act of 1940 (the
“Advisers Act”) and any corresponding state securities laws or requirements. Any such referral
fee shall be paid solely from the Independent Managers investment management fee, and shall
not result in any additional charge to the client.

AMCS currently has referral arrangements with the following Independent Managers:

      Mark Asset Management Twenty-five percent (25%) of the fees collected by Mark Asset
       Management are paid to AMCS.

      Neuberger Berman, LLC Twenty-five percent (25%) of the fees collected by Neuberger
       Berman are paid to AMCS.

      Shikiar Asset Management Twenty-five percent (35%) of the fees collected by Shikiar
       Asset Management are paid to AMCS.

      Beech Hill Advisors Thirty-three percent (33%) or Fifty percent (50%) of the fees
       collected by Beech Hill Advisors are paid to AMCS.

      Silver Capital Management Twenty-five percent (25%) of the fees collected by Silver
       Capital Management are paid to AMCS.

      Silver Capital Fund, LLC Twenty-five percent (25%) of the fees collected by Silver
       Capital are paid to AMCS.

      Mark Partners, L.P. Twenty-five percent (25%) of the fees collected by Mark Asset
       Management are paid to AMCS.

      Investment Strategies Fund, LP Thirty-five percent (35%) of the fees collected by
       Investment Strategies Fund, LP are paid to AMCS.

AMCS may enter into additional referral arrangements if it determines such is necessary to
provide superior services to clients.

The fee schedules of the Independent Portfolio Manager that a client shall engage shall be stated
in a separate written agreement between the client and the designated Independent Portfolio
Manager.

In accordance with the Independent Portfolio Manager’s standard agreement with clients
investment advisory fees and commission rates can be modified upon advance written notice to
clients.

Neither AMCS nor any client may assign the investment advisory agreement without the prior
written consent of the other party. Transactions that do not result in a change of actual control or
management of AMCS will not be considered an assignment.

Regardless of the brokerage arrangements for a specific account, clients shall bear all other
transaction and transfer related costs and expenses, including but not limited to:

      Dealer mark-ups or mark-downs by executing broker-dealers (including on fixed-income,
       foreign ordinary securities, ADRs or other over-the-counter transactions) or spreads;
      Transfer taxes and any other applicable taxes;
      Auction fees
      Odd-lot differentials fees/expense;
      Exchange or similar fees (such as for ADRs) charged by third parties, including issuers;
      Fees charged in connection with short sale transactions;
      Margin interest and fees for any securities that are deemed hard to borrow in connection
       with long/short strategies;
      Mutual redemption fees and contingent deferred sales charges;
      Commission charges for transactions in foreign ordinary securities and dealer spreads or
       mark-ups in connection with a foreign currency conversion, including in connection with
       ADRs;
      Commission charges for transactions in ordinary securities and dealer spreads or mark-
       ups in connection with a currency conversion, including in connection with ADRs;
      Electronic fund, wire and other account transfer fees;
      Custody Fees;
      Where applicable, fees generated when an Independent Portfolio Manager is unable to
       trade with a client’s direct broker and
      Any fees or other charges imposed or mandated by law.

Clients should refer to Item 12 Brokerage Practices of AMCS’s Form ADV Part 2A.

Investment Funds

Invitational Investors Fund, LP

In consideration for its services as the General Partner AMCS receives a quarterly management
fee for accounts with a Net Asset Value less than $500,000 equal to:

      0.5% (approximately 2.0% annually) of each Limited Partner’s share of the Partnership
       Net Asset Value for accounts with a Net Asset Value less than $500,000.

With respect to accounts with a Net Asset Value equal to or in excess of $500,000, the General
Partner receives a quarterly management fee equal to:

      0.375% (approximately 1.5% annually) on the first $500,000 of each Limited Partner’s

       share of the Partnership Net Asset Value;
      0.3125% (approximately 1.25% annually) on the next $2,000,000 of each Limited
       Partner’s share of the Partnership Net Asset Value;
      0. 25% (approximately 1.0% annually) on the next $2,500,000 of each Limited Partner’s
       share of the Partnership Net Asset Value; and
      0.1875% (approximately 0.75% annually) on the balance of each Limited Partner’s share
       of the Partnership Net Asset Value.

The Management Fee shall be calculated and payable to the General Partner quarterly in arrears
within 15 days after the end of such quarter. The offering memoranda for Invitational Investors
Fund contain detailed descriptions of the withdrawal and expense provisions.

Invitational Investors Retirement Fund, LP

In consideration for its services as the General Partner AMCS receives a quarterly management
fee for accounts with a Net Asset Value less than $500,000 equal to:

      0.5% (approximately 2.0% annually) of each Limited Partner’s share of the Partnership
       Net Asset Value for accounts with a Net Asset Value less than $500,000.

With respect to accounts with a Net Asset Value equal to or in excess of $500,000, the General
...

Item 7 Types of Clients

AMCS generally provides investment advice to following types of clients:

      Individuals
      Banks or Thrift Institutions
      Pension and Profit Sharing Plans
      Trusts, Estates, or Charitable Organizations
      Corporations or Business Entities
      ERISA Accounts

Independent Portfolio Managers

The minimum account size, requirements for opening or maintaining an account, and the terms
and conditions shall be set forth by the designated Independent Portfolio Manager.

Investment Funds

Single Manager Funds

      Invitational Investors Fund, L.P.
      Invitational Investors Retirement Fund, L.P.
      Invitational Partners Fund, L.P.
      Invitational Partners Retirement Fund, L.P.

Invitational Investors Fund, L.P., and Invitational Partners Fund, L.P., are offering limited
partnership interests in the Partnerships in a private placement pursuant to Section 4(2) of the
Securities Act of 1933, as amended, and Regulation D promulgated thereunder. Generally, only
persons who are Accredited Investors and Qualified Clients (as such terms are defined under the
federal securities laws) may purchase Interests.

The minimum investment amount is $100,000, although the General Partner has discretion to
accept lesser amounts. Generally, new Limited Partners will be admitted on the first day of each
quarter and withdrawals may be made at the end of each quarter (unless the General Partner, in
its sole discretion, permits withdrawals at another time) upon 10 days’ prior written notice to the
General Partner, subject to certain other restrictions. The offering memoranda for Invitational
Investors Fund, L.P., and Invitational Partners Fund contain detailed descriptions of the
requirements for opening and maintaining an account.

Invitational Investors Retirement Fund, L.P., and Invitational Partners Retirement Fund, L.P., are
offering limited partnership interests in the Partnerships in a private placement pursuant to
Section 4(2) of the Securities Act of 1933, as amended, and Regulation D promulgated
thereunder. Generally, only persons and/or tax-exempt entities who are Accredited Investors and
Qualified Clients (as such terms are defined under the federal securities laws) may purchase
Interests.

The minimum investment amount is $100,000, although the General Partner has discretion to
accept lesser amounts. Generally, new Limited Partners will be admitted on the first day of each
quarter and withdrawals may be made at the end of each quarter (unless the General Partner, in
its sole discretion, permits withdrawals at another time) upon 10 days’ prior written notice to the
General Partner, subject to certain other restrictions. The offering memoranda for Invitational
Investors Retirement Fund, and L.P., Invitational Partners Retirement Fund, L.P. Fund contain
detailed descriptions of the requirements for opening and maintaining an account.

Multi Manager Fund

      Invitational Opportunity Fund, LLC

Invitational Opportunity Fund, LLC, is offering limited liability company interests in the
Company in a private placement pursuant to Section 4(2) of the Securities Act of 1933, as
amended, and Regulation D. Generally, only persons who are Accredited Investors and
Qualified Clients (as such terms are defined under the federal securities laws) may purchase
Interests.

The minimum investment amount is $500,000, although the Managing Member has discretion to
accept lesser amounts. Generally, new Members will be admitted on the first day of each quarter
and withdrawals may be made at the end of each year (unless the Managing Member, in its sole
discretion, permits withdrawals at another time) upon 30 days’ prior written notice to the
Managing Member, subject to a 12 month lock up period and certain other restrictions. The
offering memoranda for Invitational Opportunity Fund, LLC contain detailed descriptions of the
requirements for opening and maintaining an account.