Blue Diamond Capital Investment Advisors LLC

Item 5 - Fees and Compensation

We charge an hourly fee for our advisory services. Fees are payable quarterly in arrears
upon receipt of an invoice from the Firm describing the fees owed. With respect to Blue
Diamond Funds, fees may be paid by the Blue Diamond Fund or its Manager.

With respect to Blue Diamond Funds, we may charge a fixed fee in lieu of an hourly fee.
In these cases, fees will be payable quarterly in arrears, based on the prior quarter-end
value of the Blue Diamond Fund’s assets advised (determined as of the last business day
of the prior calendar quarter), and calculated quarterly using the actual day count
methodology.

Advisory fees do not include fees and/or expenses charged by third parties, including
brokerage commissions (see Item 12 – Brokerage Practices), third-party investment
advisory fees, transfer taxes, wire transfer and electronic fund fees, as well as all other
fees and taxes regarding securities transactions. Further, with respect to Blue Diamond
Funds, advisory fees do not include fees, expenses (such as audit, legal, administrative
and other such fund level expenses), and carried interests charged by Managers, which
are disclosed in the respective investment offering documentation of a Blue Diamond
Fund.

Item 7 - Types of Clients

The Firm provides advisory services to Blue Diamond Funds and Non-Fund Clients, who
may include individuals, high net worth individuals or families, trusts, and business

entities.

There is no minimum account value the Firm can impose on Clients. The Firm reserves
the right to accept Clients of any net worth and with accounts of any value.