Baker Street Advisors LLC

Item 5: Fees & Compensation

Adviser Fee Structure & Compensation Overview
Advisory Clients agree to pay either a recurring, asset-based advisory fee based on assets under management
("AUM") or a flat fixed, one-time or hourly fee arrangement depending on the advisory services selected, calculated
and billed according to the Fee Schedules reflected herein, with any applicable refunds addressed as specified in
the Client's finalized written and executed Advisory Agreement.

All fees, billing methods, and refund policies are fully disclosed prior to entering into any Advisory Agreement.

Fee Negotiation Availability
Advisory fees are negotiable up to the maximum annual rates specified in the Client's written Agreement, subject
to approval by Baker Street. The Adviser reserves the right to adjust fees based on factors such as the Client's
relationship with us, assets under management, account composition, the complexity of their situation, and
anticipated future earning capacity.

Fees may also be negotiated for Clients requiring specialized investment services or for family members of adviser
employees. In some cases, accounts held by the Client, family members, or related parties may be aggregated for
fee calculation purposes.

While we seek to facilitate advantageous Agreements for Clients, to the extent fees are negotiable, some Clients
can pay higher (more) or lower (less) fees than other Clients for services than if they had contracted directly with
another provider. Lower fees for comparable services can sometimes be available from different sources.

Clients are responsible for any tax liabilities arising from transactions.

    Regardless of fee negotiation availability, under no circumstances will a Client be required to pre-pay any
                       advisory fee more than six months in advance in excess of $1,200.

Investment Supervisory Services Fees
Compensation for investment supervisory services is derived as fee income, calculated as a percentage of a
Client's assets under management. The compensation structure is clearly explained and agreed upon with the
Client prior to the commencement of any services. Our services - which include developing and implementing an
investment policy and objectives, monitoring a Client's investment performance, selecting and overseeing
Investment Managers, and providing quarterly reports, are compensated as follows:

                                                   Fee Schedule

                    Assets                         Fee Tiers                           Total
         From                 To             %            $                Assets        Fee $        Fee %
          $0              $25,000,000*     0.50%    $125,000           $25,000,000     $125,000       0.50%
      $25,000,000         $50,000,000      0.35%     $87,500           $50,000,000     $212,500       0.425%
      $50,000,000         $75,000,000      0.20%     $50,000           $75,000,000     $262,500       0.35%
      $75,000,000        $100,000,000      0.15%     $37,500          $100,000,000     $300,000       0.30%
    $100,000,000         $200,000,000      0.08%     $80,000          $200,000,000     $380,000       0.19%
    $200,000,000         $300,000,000      0.06%     $60,000          $300,000,000     $440,000      0.1467%
    $300,000,000         $400,000,000      0.06%     $60,000          $400,000,000     $500,000       0.125%
    $400,000,000         $500,000,000      0.05%     $50,000          $500,000,000     $550,000       0.11%
    $ 500,000,000      $1,000,000,000      0.04%    $200,000        $1,000,000,000     $750,000       0.075%

    * Note: For Clients with assets under management of under $4 million, the fee will be 0.75%. Clients
            with assets under management of over $4 million will incur an annual fee of 0.50% on the
            the first $15 million. All clients are subject to a minimum annual fee of $50,000.

Professional Services Fees
Fees for Professional Services are based on a retainer, an hourly rate of $250 to $750 or an annual fee as agreed
upon between Baker Street and the Client. Hourly fees are negotiable based on the nature and complexity of the
services to be provided and the overall relationship with us. We provide you with an estimate for total hours and
overall costs for your review and approval prior to engaging us for these services.

Advisory Fee Calculation, Billing & Refunds
Fees for Clients who do not have accounts at SEI Investments Company (“SEI”) are billed quarterly in advance of
one-fourth of the annual rate based on a percentage of the Client's assets under management at the end of the
calendar quarter. Investment advisory services begin with the effective date of the Advisory Agreement, which is
the date the Client signs the Agreement. For that calendar quarter, fees will be adjusted pro rata based on the
number of calendar days in the calendar quarter for which the Agreement was effective.

Fees for Clients who have accounts at SEI are billed quarterly in arrears of one-fourth of the annual rate based on
a percentage of the Client's assets under management at the end of the calendar quarter. Investment advisory
services begin with the effective date of the Advisory Agreement, which is the date the Client signs the Agreement.
For that calendar quarter, fees will be adjusted pro rata based on the number of calendar days in the calendar
quarter for which the Agreement was effective.

Clients that have assets under management of less than $4 million will be subject to an annual fee of .75%. Clients
that have assets under management of over $4 million will be subject to an annual fee of .50% on the first $15
million of assets under management. All clients are subject to a minimum annual fee of $50,000, calculated as
described previously

The portfolio value upon which the percentage fee is based will include the current fair market value of all of the
...

Types of Clients
Baker Street primarily provides investment supervisory services to high-net-worth individuals and associated trusts,
estates, charitable organizations, pension and profit-sharing plans, and other legal entities.

Account Minimums
Baker Street requires a minimum account size of $5,000,000; however, the Adviser has the discretion to waive the
account minimum.

Clients should note that certain investment products may have their own minimum fees or asset requirements,
which are separate from our account minimums. These requirements are determined by the product's
characteristics, not by our policies. Clients are advised to review relevant disclosure materials and consult with their
Financial Intermediary to understand the applicable minimum requirements before and during the investment
process.