LOVC Management LLC

Item 5 - Fees and Compensation
A. Fee Schedule
The fees and compensation payable to the Firm are negotiable and may vary among Funds, and the
specific way they are charged is established by each Fund's Governing Documents or any applicable side

letter. However, the range of compensation is generally as follows:
        i. Management Fees
With respect to the Funds, the Firm typically receives a quarterly management fee calculated as a
percentage of each investor's capital commitment or cost basis, payable quarterly in advance. The
management fee is generally between 0.00% and 2.50%. In addition, for certain Funds, the management
fee is not paid in cash but is instead satisfied through a deemed contribution mechanism, whereby the
investor is treated as making an additional capital contribution to the Fund in an amount equal to the
management fee, which amount is then deemed applied by the Fund to pay such fee to the Firm or GP,
without a separate cash payment by the investor. Please note that management fees are discussed in each
Fund's applicable Governing Documents and may differ from the amounts mentioned above.
        ii. Performance-based Fees
Each Fund’s General Partner or Managing Member, as applicable, generally receives a carried interest
equal to a percentage of all or a portion realized profits of an additional 10% to 20%, as described more
fully in each Fund’s Governing Documents.
The incentive allocation will only be charged to accounts of those investors who are “qualified clients” as
defined in Rule 205-3 of the Investment Advisers Act of 1940, as amended (“Advisers Act”).
      iii. Fee Comparison
Fund expenses, including the management fee and any performance-based fees, may constitute a higher
percentage of average net assets than could be found in other investment programs.

B. Payment of Fees
Fund management fees, carried interest, organizational expenses, and other Fund expenses are paid or
borne by the applicable Fund and its investors as provided in the Governing Documents and side letters.

C. Third-Party Fees and Expenses
In addition to advisory fees, Funds may bear organizational, administrative, legal, accounting, audit, tax,
compliance, consulting, broken-deal, travel, custodial, administrator, fund accounting, insurance, and
other operating expenses, as well as brokerage commissions, transaction fees, and other costs related to
sourcing, acquiring, monitoring, valuing, and disposing of investments, all as more fully described in the
Fund Governing Documents. Please note that this is not an exhaustive list, please see the applicable
Fund’s Governing Documents for more information.
The Firm’s fees are exclusive of brokerage commissions, transaction fees, and other related costs and
expenses, which are borne by the applicable Fund. The Firm does not receive any portion of such
brokerage commissions, transaction fees, or similar costs.

D. Prepayment of Fees
The Funds invest in securities of private companies on a long-term basis. Management fees may be
charged during and after the investment period and, in certain cases, may be paid in advance. Generally,
Fund investors are not permitted to withdraw or redeem their interests except as otherwise provided in
the applicable Governing Documents or side letters.

E. Outside Compensation for the Sale of Securities
Neither the Firm nor its supervised persons accept compensation for the sale of securities or other
investment products outside of their association with the Firm.
   The foregoing discussion in Item 5 represents the Firm’s basic compensation arrangements. The
management fees and incentive allocations described above are structured to comply with Rule 205-3
under the Advisers Act and applicable state laws. Fees and other compensation are negotiable in certain

circumstances, and arrangements with any particular investor may vary. Although the Firm believes its
fees are competitive, lower fees for comparable services may be available from other investment advisers.

Item 7 - Types of Clients
The Firm provides investment advice and management to private funds and may in the future provide the
same or similar services to other private funds and other types of investors.
The Firm restricts the number or type of investors in the Funds and offers interests only through non-
public transactions to maintain their exclusion from “investment company” status under the Investment
Company Act of 1940, as amended (the “Investment Company Act”).
Prospective investors in the Funds must meet the eligibility requirements set forth in the applicable
Governing Documents and are subject to the withdrawal, transfer, and other limitations described therein.
Each investor in a Fund generally must be an “accredited investor” as defined in Regulation D under the
Securities Act of 1933, as amended.