Linden Global Strategies LLC

Item 5 Fees and Compensation
LGS negotiates an appropriate fee structure on a case-by-case basis, based on the size,
complexity and investment objectives of the client's account. The terms and conditions of the
fee structure are mutually agreed upon prior to entering into an advisory agreement.

                      INDIVIDUAL PORTFOLIO MANAGEMENT FEES
LGS typically charges a fee for account management that is calculated and paid as a
percentage of the assets under management. The management fee is calculated at an annual
rate and typically varies between 35 basis points and 125 basis points of the assets under
management depending on the nature and size of the client’s assets. For example, fees with
respect to a client’s investment grade fixed income securities may equal 35 basis points of the
asset’s market value, while fees with respect to other assets may equal 125 basis points of
such value. Fees are calculated on a quarterly basis, in arrears, based on the value of the
account at the end of each month during the billing period. The account management fee is
prorated for periods less than a full billing cycle and adjusted to cover any additional
contributions made during that period. While the management fees charged by LGS are
typically calculated and paid as a percentage of the assets under management, in certain
limited circumstances, such fees may be based on an annual fixed amount, paid in quarterly
installments. With a client’s written consent, LGS management fees are generally directly

debited from the client’s assets by the custodian and paid to LGS; however, in certain cases
when requested by clients, clients may be billed directly for such fees.

    SELECTION AND MONITORING OF UNAFFILLIATED INVESTMENT MANAGERS
LGS’s fees for managing client investments with unaffiliated investment managers are the same
as those charged for managing individual client portfolios. However, LGS’s fees are separate
and distinct from the unaffiliated investment manager’s fees. Clients are responsible for the
fees and expenses charged by independent investment managers for their services. Such fees
are set out in the disclosure document of each manager.
Our annual fees for managing client investments with unaffiliated managers are charged as a
percentage of such investments and typically range from 35 basis points to 125 basis points.
Fees are calculated on a quarterly basis, typically in arrears, based on the value of the account
at the end of each month during the billing period. The fee is prorated for periods less than a
full billing cycle and adjusted to cover any additional contributions made during that period. With
a client’s written consent, LGS management fees are generally directly debited from the client’s
assets by the custodian and paid to LGS; however, in certain cases when requested by clients,
clients may be billed directly for such fees.

                                  GENERAL DISCLOSURES
Negotiability of Advisory Fees: Although LGS has established the aforementioned fee
schedule(s), we retain the discretion to negotiate alternative fees and alternative fee structures
on a client-by-client basis. Client facts, circumstances and needs are considered in determining
the fee structure. These include the complexity of the client, assets to be placed under
management, anticipated future additional assets; related accounts; portfolio style, account
composition, reports, among other factors. The specific annual fee schedule is identified in the
contract between the adviser and each client.
LGS may group certain related client accounts for the purposes of achieving the minimum
account size requirements and determining the annualized fee.
Termination of the Advisory Relationship: A client agreement may be canceled at any time,
by either party, for any reason upon receipt of 30 days’ written notice. As LGS does not accept
prepayment of fees, the refunding of fees is not applicable.
Mutual Fund Fees: All fees paid to LGS for investment advisory services are separate and
distinct from the fees and expenses charged by mutual funds and/or ETFs to their shareholders.
These fees and expenses are described in each fund's prospectus. These fees will generally
include a management fee, other fund expenses, and a possible distribution fee. If the fund
also imposes sales charges, a client may pay an initial or deferred sales charge. A client could
invest in a mutual fund directly, without our services. In that case, the client would not receive
the services provided by our firm which are designed, among other things, to assist the client
in determining which mutual fund or funds are most appropriate to each client's financial
condition and objectives. Accordingly, the client should review both the fees charged by the
funds and our fees to fully understand the total amount of fees to be paid by the client and to
thereby evaluate the advisory services being provided.

Additional Fees and Expenses: In addition to our advisory fees, clients are also responsible
for the fees and expenses charged by custodians, consultants, attorneys or other third-party
service providers engaged by or on behalf of clients. Clients are also responsible for the fees
and expenses imposed by broker dealers, including, but not limited to, any transaction charges
imposed by a broker dealer with which we or an independent investment manager effects
transactions for the client's account(s). Please refer to the "Brokerage Practices" section (Item
12) of this Form ADV for additional information.
Advisory Fees in General: Clients should note that similar advisory services may (or may not)
be available from other registered (or unregistered) investment advisers for similar or lower
fees.
Prepayment of Fees: Under no circumstances do we require or solicit payment of fees in
excess of $1200 more than six months in advance of services rendered.

Item 7 Types of Clients
LGS provides advisory services to the following types of clients:
      High net worth individuals and families
      Endowments and foundations
A minimum of $25 Million of assets under management is sought for our management
services. This account size may be negotiable under certain circumstances. LGS may group
certain related client accounts for the purposes of achieving the minimum account size and
determining the annualized fee.