Gridiron Partners LLC

Item 5 – Fees and Compensation

Managed Account Fees (Program Fees):
The Firm charges an annualized fee based upon a percentage of the market value of the assets being
managed or overseen by the Firm. For SMAs, the Firm’s annualized fee is prorated and charged
quarterly, in arrears, based upon the ending market value of the assets on the last day of that advisory
fee period or of the average assets in the account for the relevant period. The Firm calculates its fee
for partial periods in accordance with the terms of the advisory agreement, but often on a pro rata
basis. Gridiron typically deducts its fee from client accounts either directly or indirectly through the
client’s custodian. In situations where the client selects their own custodian, Gridiron will invoice
the client instead of deducting the fee from the account.

The Firm’s fee schedule for SMAs varies depending on size but is generally between 0.50% and 1.50%
of the account’s assets under management. Gridiron reserves the right to reduce or waive certain of
its fees for certain accounts or clients based on certain criteria (i.e. anticipated future earning
capacity, anticipated future additional assets, dollar amounts of assets to be managed, related
accounts, account composition, pre-existing client, etc.)

Gridiron provides investment management services to business entities or other “qualified clients”
for a performance-based fee. For those clients, the Firm charges its fees based upon a percentage of
the market value of the assets being managed by the Firm (“base fee”) in addition to a fee based on
the performance of the account (“performance fee”) which generally ranges between 10% and 20%.
The specifics of the arrangement will be detailed in each client’s advisory agreement.

Non-Discretionary Services:

For Non-Discretionary Services, the Firm charges a fixed monthly fee in arrears due within 30 days
receipt of an invoice. The specific fee is negotiated between the client and Gridiron as many factors
are considered in calculation, but will generally range between $10,000 and $50,000 annually. This
agreement can be terminated with a 30-day written notice from either party.

Gridiron’s fees are exclusive of brokerage commissions, transaction fees and other related costs and
expenses which will be incurred by the client. Clients incur certain charges imposed by the financial
institution and other third parties, such as custodial fees, charges imposed directly by registered
funds in the client’s account (which are disclosed in the fund’s prospectus), short-term trading fees,
deferred sales charges, odd-lot differentials, transfer taxes, wire transfer and electronic fund fees,
and other fees and taxes on brokerage accounts and securities transactions. The foregoing list is not
exhaustive of the fees or charges clients pay. These charges, fees and commissions are exclusive of
and in addition to the Firm’s advisory fee. For more information on Gridiron’s brokerage practices,
refer to Item 12 – Brokerage Practices.

Item 7 – Types of Clients

Gridiron provides discretionary investment management services primarily to institutional
investors through separately managed accounts and non-discretionary investment management
services primarily through model portfolios.

The Firm generally imposes a minimum portfolio value of $1,000,000 for its discretionary investment
management services. Gridiron, in its sole discretion, reserves the right to negotiate or waive its
stated account minimum or aggregate the portfolios/accounts of family members to meet the
minimum portfolio size.