Halcyon Global Advisors LLC

ITEM 5      Fees and Compensation
            ANNUAL FEES FOR ADVISORY SERVICES
            Halcyon is compensated for providing asset management services by charging a negotiable fee based on
            the total assets under management. The fees and billing will be pre-determined in writing in the
            Investment Advisory Agreement executed by you and Halcyon.
            The fees charged for financial planning services are negotiable and vary depending on the complexity of
            the process undertaken, the types of issues addressed, the scope of services provided, and the frequency
            with which the services are rendered. All fees are agreed upon before entering into the Financial Planning
            and Consulting Agreement you sign.
            The below ranges are the standard fee ranges that are typically charged.

                               Asset Management Fee Schedule
                                       Up to $500,000                          2.50%
                                   $500,000 - $1,000,000                       1.50%
                                    $1,000,000 - and up                        1.25%

                               Financial Planning and Consulting Fee Schedule
                               Fixed Fee                          $1,500-$7,500

            Halcyon may enter into arrangements where performance-based fees are assessed for advisory services.
            Performance-based fees are individually negotiated with clients. Adviser’s performance fee may only be
            utilized by the following types of clients: (i) A client that is a natural person who or a company that
            immediately after entering into an advisory agreement has at least $1,100,000 under the management of
            Adviser; (ii) A client that is a natural person who or a company that Adviser reasonably believes,
            immediately prior to entering into the advisory agreement, has a net worth (together, in the case of a
            natural person, with assets held jointly with a spouse and excluding the value of the clients residence) of
            more than $2,200,000 at the time the advisory agreement is entered into, or (iii) a client that is a natural

  Halcyon Global Advisors, LLC                                                                                        5

    person who does not meet either definition as outlined above but who shall not be charged a performance
    fee based on the status of nonqualified or non-accredited.

ITEM 7      Types of Clients
            We provide our investment advisory services to:
            - Individuals
            - High Net Worth Individuals
            - Corporations
            - Other business entities
            Our minimum account size requirements for opening an account with us are as follows: Our minimum
            account size is $200,000, which may be waived by Halcyon in its discretion.