LCN Capital Partners LP

Item 5 - Fees and Compensation

  A. The fees applicable to each Fund are set forth in detail in each Fund's offering documents.
For services provided by the Adviser to the Funds, the management fee is generally 2% per annum
(subject to a reduction to 1.5% at the end of the Investment Period, as such term is defined in the
Funds' offering documents), and the performance allocation is generally 20%. The management
fee is calculated quarterly and payable quarterly in advance. The performance allocation is subject

to the full return of invested capital as well as a preferred return to limited partners. All
performance allocations charged by the Adviser or its affiliates are consistent with Rule 205-3
under the Investment Advisers Act of 1940, as amended.

  B. Fees and compensation paid to the Adviser or its affiliates by the Funds are generally
deducted on a quarterly basis in advance from the assets of such clients.

  C. The Funds bear their own expenses, including all ordinary and extraordinary liabilities, costs
and expenses incurred by them or on their behalf, including all broken-deal expenses and all legal,
accounting, and reporting expenses, out-of-pocket expenses relating to the development,
acquisition, holding and disposition of portfolio investments, liability insurance costs,
indemnification expenses, custodian fees, taxes, interest on borrowed monies and brokerage fees
and commissions, and certain other expenses.

  D. Management fees are generally paid quarterly in advance, and are not refundable if the
advisory contract is cancelled prior to the end of a payment period.

  E. Neither the Adviser nor its affiliates nor any of its supervised persons accepts compensation
(e.g., brokerage commissions) for the sale of securities or other investment products.

Item 7 - Types of Clients

The Adviser or its affiliates provides investment advice to, and manage the investment portfolios
of, private investment funds, as described above.