Disciplined Alpha LLC

Item 5: Fees and Compensation

The specific terms of Disciplined Alpha’s fees and compensation arrangements are set forth in the
applicable offering document, prospectus or investment management agreement.
Disciplined Alpha may charge both management and performance fees. All of Disciplined Alpha’s
unaffiliated investors in its Private Funds are expected to be charged both management fees and
performance fees. Fees for future investors or investment vehicles may differ than those below and
may be negotiable.
Private Funds charge management fees of 1% per annum based on opening monthly assets while the
funds are under $150 million in assets. Once the funds exceeds the $150 million threshold, the
management fee will be 1.5% per annum based on opening monthly assets. The performance fee is

                                                               Disciplineδ Alphα LLC ADV Part 2
20% per annum of all net gains/losses regardless of assets and is calculated and paid annually, or on
any crystallization event, subject to a high water mark (see Item 6). More information is available in the
relative offering documents.
Fees for any SMA vary and are reflected in the investment management agreements.
The ETF charges an advisory fee based on a percentage of the average daily net assets of the fund. The
ETF does not charge performance based fees. More information is available in the prospectus.
All management and performance fees are independently calculated by an independent administrator.
Each Client will pay for all costs and expenses related to its investments and its operations, including,
without limitation, brokerage and other transaction costs, clearing and settlement charges, interest
and commitment fees on debit balances or borrowings, borrowing charges on securities sold short,
research expenses and other costs that could be classified as “research services” (as such term is used
in Section 28(e) of the Securities Exchange Act of 1934, as amended) even if those costs are paid
directly and not through a broker dealer, costs of any liability insurance obtained on behalf of a Client,
custody fees, costs of any litigation or investigation involving the accounts’ activities, indemnification
expenses, the management fees, consulting expenses, the fees and expenses of professionals
providing services to the Clients’ account, including where appropriate legal, audit, accounting, tax and
administration and director services for Disciplined Alpha's non-U.S. Private Funds, where applicable,
any issue or transfer taxes chargeable in connection with any securities transactions, any entity level
taxes, regulatory costs, filing and license fees, the costs of reporting and providing information and any
extraordinary expenses. Please refer to Item 12 for more information about brokerage. Where
Disciplined Alpha pays such costs on behalf of any Client, such costs will be reimbursed.
In the event any expenses are required to be allocated among Clients, Disciplined Alpha will seek to
allocate the expenses in a fair and equitable manner taking into consideration the extent to which each
account benefits from the particular product or services. Depending upon the nature of the expense,
the allocation methodology applied may vary. Such methodologies may include allocating the expense
(i) on a pro rata basis in proportion to the relevant accounts’ assets under management or relative use
of the item of expense (or relative participation in an investment, if the expense is related to such
investment); (ii) equally among all participating accounts; or (iii) in another manner that Disciplined
Alpha deems fair and equitable.

Item 7: Types of Clients

Disciplined Alpha generally provides investment advice to any and all of the following types of clients:
high net worth individuals, investment companies (including ETFs), other pooled investment vehicles,
ERISA Pension Plans, institutional investors, charitable foundations, family limited partnerships and
corporations or other business entities.
The Private Funds managed by Disciplined Alpha have a minimum initial investment from investors of
at least $250,000 although Disciplined Alpha may accept lesser amounts at its sole discretion. Please see
the applicable offering documents for additional information.
Investors requesting a separately managed account will be evaluated on a case-by-case basis.