Felix Advisors LLC

Item 5. Fees and Compensation
As compensation for investment advisory services provided to certain of the Funds, the non-
managing members of those Funds (the “Members”) pay an annual management fee (a
“Management Fee”), which, after payment of expenses and reserves, is distributed to Saddle
River Advisors. To provide for the Management Fee, each Member’s capital account is debited
at a rate equal to a percentage of the Member’s capital commitments as of the first day of each
fiscal quarter. From the Member’s closing date to the fifth year anniversary, the amount is equal
to 2.0% annually, or 0.50% quarterly. Thereafter, the amount is equal to 0.50% quarterly of the
value of unrealized investments of the Funds that have been funded with the capital
commitments of each of the Members. After payment of the organizational expenses for the
Funds, as well as general office overhead, including rent, utilities, telecommunications, office
furniture, equipment, computers and compensation of the Funds’ employees, and other Fund
personnel, and creation of reserves necessary in the reasonable determination of the Manager for
payment of accrued or foreseeable expenses, the remainder of the Management Fee for each
Fund is distributed to Saddle River Advisors as compensation. For certain other of the Funds,
Saddle River Advisors does not receive compensation for investment advisory services
rendered.

Other Fees

 Individuals who are part of the Saddle River Team and are registered with Felix Investments
LLC or another broker-dealer may receive compensation through their associated broker-dealer
for the sale of interests or the purchase or sale of securities by the Funds. This practice presents
a conflict of interest and may give an incentive to recommend, based on the compensation
received, transactions in securities issued by one or more of the Funds or the Portfolio
Companies. These conflicts of interest are decided by the Manager in its sole discretion, subject
to applicable law, and the Funds are aware of the conflicts. See also Items 10 and 14.

The Funds may purchase investment products through brokers or dealers that are not affiliated
with Saddle River Advisors. In the event that a Fund uses a broker-dealer, such Fund will incur
brokerage and other transaction costs. For additional information regarding brokerage practices,
please see Item 12 below.

Item 7. Types of Clients

Saddle River Advisors currently provides investment advisory services to the Funds.

Investors that purchase interests in the Funds include high net worth individuals, family offices,
individual retirement accounts, profit-sharing plans, trusts, estates, corporations, limited
partnerships and limited liability companies or other business entities.