Ceera Investments LLC

Item 5 – Fees and Compensation

Advisory Fees:
Advisory fees are payable to CEERA for investment advisory services rendered. All fees are subject to
negotiation. Clients can choose either a Management Fee Schedule or a Performance Fee Schedule
(offered to “qualified clients” per securities laws and defined below). Please see details of both
Schedules.

       Written Agreement: The specific manner in which fees are charged by CEERA is established in a
        client’s written agreement with CEERA.
       Frequency of Billing: CEERA will generally bill its fees on a quarterly basis (for Management Fee
        Schedules) after the end of a quarter, and on an annual basis (for Performance Fee Schedules)
        after the end of a year.
       Direct Debit: Typically, clients are requested to authorize the Custodian, based on instructions
        from CEERA, to directly debit fees from client accounts. In some cases, clients may elect to be
        billed directly for fees.
       No Advance Fees: CEERA does not accept any fees in advance of services rendered.
       Pro-rata Fees: Accounts initiated or terminated during a calendar quarter will be charged a
        prorated fee based on the number of days the accounts were managed.
       Consulting Situations: Periodically, for advisory situations where the amount of time and
        resources cannot be clearly determined upfront, an hourly or a fixed negotiable retainer fee
        arrangement may be available. The negotiable hourly fee is up to $300 and is paid after the
        consultations.

Transactional Fees and Other Expenses:
CEERA’s fees are exclusive of brokerage commissions, transaction fees, and other related costs and
expenses that shall be incurred by the client. Clients may incur certain charges imposed by custodians,
brokers, third party investment and other third parties such as custodial fees, fees charged by managers,
deferred sales charges, odd-lot differentials, transfer taxes, wire transfer and electronic fund fees, and

other fees and taxes on brokerage accounts and securities transactions. Mutual funds and exchange-
traded funds also charge internal management fees, which are disclosed in a fund’s prospectus. Such
charges, fees and commissions are exclusive of and in addition to CEERA’s fee, and CEERA shall not
receive any portion of these commissions, fees, and costs.

CEERA does not accept compensation for the sale of securities or other investment products, including
asset-based sales charges or service fees from the sale of mutual funds.

Management Fees Schedule:
Most of our clients use this Schedule with the following features.

       Fees: The annual negotiable fee is typically 1% of assets under management per annum and can
        vary depending on the size, complexity of a client’s account, and other considerations. This
        management fee will not to exceed 1.75% p.a. under this Schedule.

       Month End Value Averages: Fees are computed based upon the average of the month end
        market values of all managed assets in an account on the last day of each month in the calendar
        quarter. To determine the month-end market values, the asset value of an account is computed
        by adding the market value of all long positions, and includes accrued income and dividends in
        the account. Month end values are reported by the custodian or by a third-party portfolio
        reporting system that has been appropriately reconciled with the custodian.

       Frequency of Billing: Fees are payable at the end of each quarter for services in the prior three
        months. Fees for the initial and final billing period will be prorated for the number of days
        management services were provided.

       Transaction Fees and Other Expenses: All fees paid to CEERA are separate from the fees and
        expenses charged by the management of investment vehicles used in a client’s account such as
        a mutual fund, exchange traded fund, or real estate investment trust (REIT). Brokerages or
        trustees may charge transaction fees for the purchase or redemption (or sale) of shares of
        mutual funds (or individual securities).

Performance Fees Schedule:
CEERA also offers “qualified clients” (per securities laws and defined at the end of Item 5) the following
types (TYPE I or TYPE II) of negotiable performance-based fee arrangements. Advisory clients choosing
the Performance Fee Schedule understand that arrangement may create the incentive for increased
risk, and that CEERA may receive more compensation due to the inclusion of unrealized appreciation.

       Frequency of Billing: The performance fee is assessed at the end of a calendar year

       Pro-rata Fees: For accounts created during a calendar year, the first calendar year’s
        performance fees are calculated based on a hurdle rate that has been pro-rata (and /or a pro-
        rata Asset Management Fee, as applicable) for the remainder period of the calendar year. Any

          such account that is terminated during a calendar year will have performance fees calculated
          based on a hurdle rate that has been pro-rata (and /or a pro-rata Asset Management Fee, as
          applicable) for the period of the calendar year that the account was under management.

◊ TYPE I Performance Fee (Hurdle Rate Method-“HRM”):
Client agrees to an annual hurdle rate, typically 6% a year, or a specified Benchmark-- customized or
otherwise. Under this performance fee schedule, there are performance fees only if CEERA generates a
time-weighted annual return in excess of the hurdle rate. Such a performance fee will equal to:

                    □ 25% of the profits in excess of the annual hurdle rate during the year,
                     calculated as:
                     Performance Fee= {0.25 * (TWR - HR) * AYBMV}, where

                     TWR=Time Weighted Annual Rate of Return
...

Item 7 – Types of Clients

CEERA provides portfolio management services to individuals, high net worth individuals, charities, and

retirement funds and remains open to potential management opportunities with corporate pension and
profit-sharing plans, Taft-Hartley plans, foundations, endowments, municipalities, registered mutual
funds, private investment funds, trust programs, sovereign funds, foreign funds such as UCITs and
SICAVs, and other U.S. and international institutions.

Minimums: CEERA’s account size for managed accounts is an expected initial minimum of $1,000,000 in
funds and/or securities, including assets across multiple portfolios for a given client. This minimum may
be lowered or increased on a case-by-case basis at CEERA’s discretion.