Capital United LLC

Item 5:          Fees and Compensation

A.        Fee Schedule

Pursuant to the Offering Documents of each CapU Managed Private Fund, CapU typically charges annual
asset management fees. Management fees are generally charged quarterly or semiannually in accordance
with the parameters established in the Offering Documents for each CapU Managed Private Fund and are
deducted in advance from investor account balances by the fund administrator. Asset management fees will
generally range from 50 to 200 basis points and are earned on the aggregate capital contributions to the
CapU Managed Private Fund or the capital committed or net asset value of the CapU Managed Private
Fund. CapU also charges a carried interest in addition to the annual asset management fees. Carried interest
fees generally range from 5% to 20% and are earned on the net profit of the specific CapU Managed Private
fund. Carried interest may be subject to certain return hurdles and or waterfall payment provisions, as noted
the specific CapU Managed Private Fund Offering Documents. More details about these fees can be found
in the CapU Managed Private Fund Offering Documents.

B.        Payment of Fees

To the extent it receives fees for its services from CapU Managed Private Funds, CapU’s fee is paid
quarterly in arrears. Fees are paid by check.

C.        Client Responsibility For Third Party Fees

CapU Managed Private Funds are responsible for the payment of all third party fees (i.e. custodian fees,
brokerage fees, mutual fund fees, transaction fees, etc.). Those fees are separate and distinct from the fees
and expenses charged by CapU.

D.        Outside Compensation For the Sale of Securities to Clients

Neither CapU nor its supervised persons accept any compensation for the sale of investment products,
including asset-based sales charges or service fees from the sale of mutual funds.

Item 7:           Types of Clients

CapU provides advisory services to CapU Managed Private Funds.