Protostar Partners LLC

Item 5 – Fees and Compensation
PROTOSTAR typically charges a management fee equal to 2% per annum on Actively
Invested Capital.
All fees are subject to negotiation.
The specific manner in which fees are charged by PROTOSTAR is established in the
Partnership Agreement/Operating Agreement for each of the Private Investment Funds
that PROTOSTAR manages. PROTOSTAR will generally bill its fees on a quarterly basis.
Clients may elect to be billed in advance or arrears each calendar quarter. Clients may also
elect to be billed directly for fees or to authorize PROTOSTAR to directly debit fees from
client accounts. Management fees shall not be prorated for each capital contribution and
withdrawal made during the applicable calendar quarter (with the exception of de minimis
contributions and withdrawals). Accounts initiated or terminated during a calendar
quarter will be charged a prorated fee. Upon termination of any account, any prepaid,
unearned fees will be promptly refunded, and any earned, unpaid fees will be due and
payable.
PROTOSTAR’s fees are exclusive of brokerage commissions, transaction fees, and other
related costs and expenses which shall be incurred by the client. Clients may incur certain
charges imposed by custodians, brokers, third party investment and other third parties
such as fees charged by managers, custodial fees, 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. Mutual funds and exchange traded
funds also charge internal management fees, which are disclosed in a fund’s prospectus.
Such charges, fees and commissions are exclusive of and in addition to PROTOSTAR’s fee,
and PROTOSTAR shall not receive any portion of these commissions, fees, and costs.
Item 12 further describes the factors that PROTOSTAR considers in selecting or
recommending broker-dealers for client transactions and determining the reasonableness
of their compensation (e.g., commissions).

Item 7 – Types of Clients
PROTOSTAR provides portfolio management services to private investment funds.