IKE Capital LLC

Item 5. Fees and Compensation
         IKE Capital offers its services on a fee basis based upon a percentage of the assets under management.

         Investment Management Fee

         IKE Capital provides investment management services for an annual fee based upon a percentage of the
         market value of the assets being managed by IKE Capital. IKE Capital’s annual fee is exclusive of, and in
         addition to brokerage commissions, transaction fees, and other related costs and expenses which are
         incurred by the client. IKE Capital does not, however, receive any portion of these commissions, fees, or
         costs. IKE Capital’s annual fee is prorated and charged quarterly, in arrears, based upon the market
         value of the assets being managed by IKE Capital on the last day of the previous quarter. The annual fee
         varies (between 0.10% and 2.00%) depending upon the market value of the assets under management
         and the type of investment management services to be rendered.

         The Firm includes cash in a client’s account in determining the valuation for billing purposes. The Firm
         may, in its sole discretion, not include cash in determining the fee, especially where a client has a high
         percentage of cash for reasons other than the Firm's investment management decision. IKE Capital, in
         its sole discretion, may negotiate to charge a lesser management fee based upon certain criteria (i.e.,
         anticipated future earning capacity, anticipated future additional assets, dollar amount of assets to be
         managed, related accounts, account composition, pre-existing client, account retention, pro bono
         activities, etc.).

         As discussed above in Item 4, legacy KDM Capital clients will have different billing relationships based on
         their Agreement until the client signs a new IKE Capital agreement.

         Fees Charged by Financial Institutions

         As further discussed in response to Item 12 (below), IKE Capital recommends that clients utilize the
         brokerage and clearing services of Fidelity Institutional Wealth Services (“Fidelity”) and/or Pershing
         Advisor Solutions (“Pershing” and together with Fidelity, “Custodian”) for investment management
         accounts.

         IKE Capital may only implement its investment management recommendations after the client has
         arranged for and furnished IKE Capital with all information and authorization regarding accounts with
         appropriate financial institutions. Financial institutions include, but are not limited to, Custodian, any other
         broker-dealer recommended by IKE Capital, broker-dealer directed by the client, trust companies, banks
         etc. (collectively referred to herein as the “Financial Institutions”).

         Clients may incur certain charges imposed by the Financial Institutions and other third parties such as
         brokerage commissions and transaction charges, fees charged by Independent Managers, custodial fees,
         charges imposed directly by a mutual fund or ETF in the account, which shall be disclosed in the fund’s

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         IKE Capital, LLC                                                           Disclosure Brochure

         prospectus (e.g., fund management fees and other fund expenses), fees charged by private securities
         issuers/managers, 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.

         Fee Debit

         IKE Capital’s Agreement and the separate agreement with any Financial Institutions authorize IKE Capital
         or Independent Managers to debit the client’s account for the amount of IKE Capital’s fee and to directly
         remit that management fee to IKE Capital or the Independent Managers.             Any Financial Institutions
         recommended by IKE Capital have agreed to send a statement to the client, at least quarterly, indicating
         all amounts disbursed from the account including the amount of management fees paid directly to IKE
         Capital. Alternatively, clients may elect to have IKE Capital send an invoice for payment.

         Fees for Management During Partial Quarters of Service

         For the initial period of investment management services, the fees shall be calculated on a pro rata basis.

         The Agreement between IKE Capital and the client will continue in effect until terminated by either party
         pursuant to the terms of the Agreement. IKE Capital’s fees are prorated through the date of termination
         and any remaining balance is charged or refunded to the client, as appropriate.

         Additions may be in cash or securities provided that IKE Capital reserves the right to liquidate any
         transferred securities or decline to accept particular securities into a client’s account. IKE Capital may
         consult with its clients about the options and ramifications of transferring securities. However, clients are
         advised that when transferred securities are liquidated, they are subject to transaction fees, fees
         assessed at the mutual fund level (i.e. contingent deferred sales charge) and/or tax ramifications.

         If assets are deposited into or withdrawn from an account after the inception of a quarter, the fee payable
         with respect to such assets will not be adjusted or prorated based on the number of days remaining in the
         quarter.

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         IKE Capital, LLC                                                      Disclosure Brochure

Item 7. Types of Clients
          IKE Capital provides its services to individuals, pension and profit sharing plans, trusts, estates, charitable
          organizations, corporations, and business entities.

          Minimums Imposed By Independent Managers

          IKE Capital does not impose a minimum portfolio size or minimum annual fee. Certain Independent
          Managers, however, impose more restrictive account requirements and varying billing practices than IKE
          Capital. In such instances, IKE Capital may alter its corresponding account requirements and/or billing
          practices to accommodate those of the Independent Managers.

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          IKE Capital, LLC                                                           Disclosure Brochure