GFO Asset Management LLC

Item 5 Fees and Compensation
(A)       Generally: The Firm generally charges a 2% management fee (the “Management Fee”)
          to the limited partners of the Clients, as described in the Client’s IMA. Clients may also
          be charged a performance fee and/or incentive allocation ranging from 17.5% to 30%
          of the Clients’ net income, if any, attributable to each Limited Partner’s capital account,
          subject to a high-water mark (the “Performance Allocation”). The Performance
          Allocation is deducted on an annual basis or upon a withdrawal or redemption (only on
          the amount withdrawn or redeemed).

          The compensation described above is the Firm’s typical compensation; however,
          Management Fees and Performance Allocations may be negotiable.

(B)       Payment of Fees: The Management Fee is charged on a quarterly basis, in advance.
          Performance Allocations are charged on an annual basis, in arrears, or upon a
          withdrawal or redemption (only on the amount withdrawn or redeemed) as provided in
          the IMA with the Client, based on the value of the Client’s account(s) as of the close
          of the applicable calendar year. No amount of the Performance Allocation will be
          refunded under any circumstances, unless the Firm, in its sole discretion, determines
          otherwise.

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(C)     Additional Fees and Expenses: Clients will bear any agreed upon expenses as set
        forth in the relevant Governing Documents for each applicable fund, which may discuss
        additional costs, fees and expenses not discussed below. Without limiting the
        foregoing, generally, the Clients shall pay, or reimburse the Firm for, certain fees and
        expenses which may include, in some or all instances, fees and costs relating to the
        trading of securities, brokerage commissions (see Item 12, “Brokerage Practices”),
        costs of preparing and mailing reports to clients, and other similar fees and expenses.

        The Clients will pay or reimburse the Firm and/or the Firm’s affiliates for: (i) all
        expenses incurred in connection with the ongoing offer and sale of interests, including,
        but not limited to, printing of the relevant private placement memorandum and exhibits,
        marketing expenses and documentation of performance and the admission of limited
        partners, (ii) all operating expenses of the Clients, such as tax preparation fees,
        governmental fees and taxes, any administration fees paid to the administrator
        providing services to the Clients, costs of communications with limited partners, and
        ongoing legal, accounting, auditing, bookkeeping, consulting and other professional
        fees and expenses, (iii) technology-related costs and expenses, including, but not
        limited to, software licenses, data feeds and colocation expenses, (iv) all Clients
        investment-related costs, including research, underwriting and origination fees,
        professional fees, servicing fees, custodial fees, broker and dealer fees (including such
        fees as the Clients may agree to pay to Firm affiliates), and other execution and trading
        costs, (v) all principal, interest, fees, expenses and other amounts payable in respect of
        or in connection with borrowings or other financings by the Clients, (vi) all expenses
        incurred in connection with the collection of amounts due to the Clients from any
        person; (vii) regulatory and other filing fees and expenses, and compliance costs and
        expenses, including, but not limited to, all fees and expenses incurred by the Firm
        and/or its affiliates directly in connection with examinations by the SEC and other
        regulatory authorities that are attributable to the Clients, as well as fees and expenses
        associated with the completion of regulatory filings that are attributable to the Clients
        (including, without limitation, Form PF filings), (vii) all travel expenses for any
        purpose related to the Clients’ operations and investments, including meeting with
        parties involved in Fundings and the related litigation cases and/or attending any
        industry or trade show, conference or seminar related in any way to the Clients’
        investment program (such as, registration, sponsorship, transportation, accommodation
        and/or meal expenses), or other travel expenses related to any of the other categories of
        expenses set forth herein, (viii) any costs and expenses incurred by the Client in
        connection with converting from a stand-alone fund into a “master fund” or a “feeder
        fund” as part of a master-feeder structure, (ix) director and officer liability insurance or
        other insurance premiums for any principal or employee of the Clients, the general
        partner, the Firm or any of the Firm affiliates, (x) all expenses incurred in connection
        with any litigation involving the Clients (including the cost of any investigation and
        preparation) and the amount of any judgment or settlement paid in connection
        therewith, (xi) all liabilities for indemnity or contribution to any person, whether
        payable under the applicable partnership agreement, the investment management
        agreement or otherwise and whether payable in connection with any litigation
        involving the Clients or otherwise (including, without limitation, those incurred by the
        general partner and/or the Firm), (xii) all expenses incurred in connection with
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          administrative proceedings relating to the determination of items at the Clients level
          undertaken by the Client representative (as defined in the relevant partnership
...

Item 7 Types of Clients
As described in Item 4, the Firm provides investment management services, on a discretionary
basis, to pooled investment vehicles operating as private funds for sophisticated, qualified
investors, including high net worth individuals, Fund of Funds, foundations, family offices,
retirement plans, trusts, partnerships, corporations, or other businesses.

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In general, in order to become a client of the Firm, such prospective client must meet certain
minimum suitability requirements, including qualifying as an “Accredited Investor” under the
Securities Act of 1933, as amended, as a “Qualified Client” under the Investment Advisers Act
of 1940, as amended, and if applicable, as a “Qualified Purchaser” under the Investment
Company Act of 1940, as amended.

The Firm typically accepts a minimum investment of $500,000 but may accept lesser amounts
in its sole discretion and only to such extent as permitted by law or regulation.