Double Duty Money Management LLC

Item 5 – Fees and Compensation

Investment Management Fees
The extent and specific manner in which our clients pay management fees are set forth in
each client’s applicable written agreements with us.

Asset-based fees for our Equity Strategies generally range from 0.75% to 1.25% annually
of assets under management, depending on the strategy(ies) involved and vehicle(s) in which
the assets are held (e.g., a separately managed account, collective investment vehicle, or
registered investment company).

Asset-based fees for our Multi-Asset Strategies generally range from 0.50% to 1.00%
annually of assets under management, depending on the strategy(ies) involved and
vehicle(s) in which the assets are held (e.g., a separately managed account, collective
investment vehicle, or registered investment company).

Double Duty’s management fees are negotiable and may differ among client accounts.
Accounts managed under the same investment strategy may not pay the same fees. Fee
schedules may vary based on factors such as the investment strategy; account size, type, or
geography; lock-up or liquidity or capacity terms; conflict mitigation considerations;
relationship size or structure; anticipated asset growth; required service levels;
customization needs; the complexity of the investment mandate; operational or reporting
requirements; use of external consultants, intermediaries, or platforms; participation in sub-
advisory, OCIO, or model-delivery arrangements; legacy or grandfathered pricing; strategic
or marketing benefits associated with a particular client or relationship; tax status or legal
structure of the client; and other factors the Firm considers relevant. Certain clients, such as
seed or anchor investors, and officers, employees, or their friends and family members, may
be charged lower fees based on these relationship- and mandate-specific considerations.

To the extent that Double Duty has relationships with various financial intermediaries, in
some cases the fees assessed against the underlying clients are based on a fee schedule
applicable to the relevant intermediary. Such fee schedule may or may not aggregate
underlying client assets, depending on the type of relationship with the intermediary and
other factors.

Fee Billing
Double Duty will generally charge clients an asset-based management fee based on the
above fee schedule. As full compensation for its services, Double Duty shall be paid
quarterly, in arrears, a fee equal to one-fourth of the annual rates, based on the asset value
of the Account (including cash and cash equivalents and/or margin balances) as of the last
day of each calendar quarter (the “Valuation Date”), as reasonably determined by Double
Duty. Fees are payable either upon invoicing to the Client or, for certain accounts, through
automatic deduction from the Client’s account held at a qualified custodian, pursuant to the
Client’s written authorization. Where fees are invoiced, invoices are typically payable
promptly upon receipt in U.S. dollars, and no later than 30 days after the end of the quarter
for which fees are charged. If Double Duty serves for less than a full quarter, fees are payable
on a pro rata basis for the applicable period. Invoices typically need to be paid promptly
upon receipt in U.S. dollars, no later than 30 days after the quarter end for which fees are
being charged. If Double Duty shall serve for less than the whole of any quarter, fees shall

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be payable on a pro rata basis for the relevant period.

Other Fees
In addition to the management fee paid to Double Duty, as stated above, Clients will incur
brokerage commissions and other additional fees. In addition to brokerage commissions,
such fees may include expenses for investing in Exchange Traded Funds, depository
receipts, or other fee-bearing products like mutual funds and other transaction costs. In
addition, clients are responsible for paying fees to their custodians and state, local and other
taxes associated with investments in various products. These fees are in addition to the
investment management fees paid to Double Duty, as specified above. Some investments,
such as non-U.S. securities, depository receipts, mutual funds, and Exchange Traded Funds
may charge additional fees that will reduce the value of your investments over time. For a
summary of our brokerage practices, please see “Item 12 – Brokerage Practices” below.

Item 7 – Types of Clients

Description of Clients
We provide discretionary investment management services to high net worth individuals,
pension and profit sharing plans, charitable organizations, pooled investment vehicles (other
than investment companies and business development companies), state or municipal
government entities (including government pension plans), other investment advisers,
retirement plans, corporations or other businesses not listed above, foreign official
institutions, and individuals (other than high net worth individuals).

Account Minimums
We do not require a minimum dollar amount to open and maintain an advisory account.
However, the recommended separate account minimum is $25 million for an institutional
client and $1 million for an individual.

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