Emery Partners LLC

Item 5: Fees & Compensation
Investment Management Services
Emery investment management services will be charged an annual fee and will generally vary from
0% to 1.00% according to the amount of assets under management; however fees are negotiable

Certain client accounts may be charged a performance-based fee that could range from 0% to 20%.
Emery has an account minimum of $250,000. We will make exceptions to this minimum under
certain circumstances.

Our fees are generally paid quarterly, in advance, based on the value at the close of the applicable
billing period. Our fees will be deducted directly from the client accounts Fees are negotiable based
upon the types of services provided, size of the account and the relationship between the client and
Emery. Emery retains the discretion to negotiate alternative fees on a client-by-client basis. The
specific fee is identified in the contract between Emery and each client.

Consulting Services
Emery provides consulting services as a fixed rate or monthly fee depending on the nature and
complexity of the client’s situation. Consulting services fees will range from $3,000 to $20,000 with
an average fee of $5,000 paid monthly in advance. All fees are agreed upon with each client at the
onset of the relationship.

Closed-End Fund Fees
Fees for the Closed-end Tender Offer Fund is described in the fund’s prospectus and statement of
additional information.

Other Fees & Expenses
In addition to our advisory fees, clients are also responsible for the fees and expenses charged by
custodians and imposed by broker dealers, including, but not limited to, brokerage fees,
commissions and other related trading, execution and settlement related costs and fees; custodial
fees. Please refer to the "Brokerage Practices" section (Item 12) of this Form ADV for additional
information. These fees will be paid by the client directly to the client-designated custodian, broker-
dealer, bank or other third-party

In some cases, clients may choose to have mutual funds or exchange traded funds (“ETFs”) and/or
other investment companies in their portfolios. All fees paid to Emery for investment advisory
services are separate and distinct from the fees and expenses charged by mutual funds and/or ETFs
to their shareholders. These fees and expenses are described in each fund's prospectus.

Termination of the Advisory Relationship:
A client agreement may be canceled at any time, by either party, for any reason upon receipt of
written notice. Upon termination of an account, any unearned fees will be promptly refunded. In
calculating a client’s reimbursement of fees, we will pro rate the reimbursement according to the
number of days remaining in the billing period.

Item 7: Types Of Clients
Emery’s clients include, private funds, a closed-end tender offer fund, institutions such as financial
services firms, investment management firms, other registered investment advisers and broker-
dealers, and foundations, endowments, we also have high net-worth individuals for clients. Emery
has established a minimum account size of $250,000.