Item 5. Fees and Compensation
A. GPNA is compensated for advisory services with service fees that are determined based upon the
costs incurred by GPNA in connection with the provision of such services plus a specified percentage
of such cost. These service fees are determined on a client-by-client basis, based on the level of
activity of GPNA on behalf of a particular Client, and such fees may be suspended or otherwise
limited in duration. As of March 29th, 2016, the "plus" percentages of such service fees are 10%,
subject to an annual review. Because this brochure will only be delivered to qualified purchasers as
defined in section 2(a)(51)(A) of the Investment Company Act of 1940, as amended ("qualified
purchasers"), this brochure does not include a fee schedule.
B. GPNA will bill the general partner (or similar controlling entity) of each Client on a quarterly basis
for service fees incurred on behalf of the Client.
C. The Clients do not pay other types of fees to GPNA in connection with GPNA's advisory services.
Separately, the Clients may be responsible for paying, directly or indirectly, other investment
expenses such as custodial fees, brokerage commissions and related transaction costs, interest costs,
insurance costs, indemnification and litigation costs, taxes, duties and other governmental charges,
legal fees, accounting fees, audit and tax preparation fees, and certain other expenses which may be
agreed upon in the governing documents of the Clients or the service agreements under which GPNA
provides services to the Clients, in each case, whether or not an investment or risk mitigation
transaction is consummated.
D. GPNA does not require payment of the fees in advance from the Clients.
E. Neither GPNA nor any of its supervised persons accepts compensation for the sale of securities or
other investment products.