RVX Asset Management LLC

Item 5 Fees and Compensation
Basic Fee Structure:
The specific manner in which fees are charged by RVX is established in each client's written
investment advisory agreement (the "Agreement") with RVX, which may be negotiated and differ with
each client.

RVX's fees are typically asset based (or management fee) and/or an incentive-based fee. The asset-
based fees are normally charged at an annual rate of between 25 bps and 150 bps of the value of the
client's net assets under management and are generally payable quarterly in arrears depending on the
terms of the Agreement.

Our general fee schedules are as follows:

Emerging Markets Corporate Debt: Fees are generally as set forth in the following table, subject to
negotiation and related factors as noted below.

 Fee Schedule       RVX EM Corp Debt
 $1-50M             40 bps
 Next $50M          30 bps
 Above $100M        25 bps

 A client may pay more or less fees than similar clients depending on the particular circumstances of
 the client, size, additional or differing levels of service or as otherwise agreed with specific clients.
 Clients that negotiate fees, including a flat fee, may end up paying a higher fee than that set forth
 above as a result of fluctuations in the client's assets under management and account performance.

 Clients also bear direct and indirect costs, fees and expenses incurred by or on behalf of such clients
 including, among others, (i) all costs, fees and expenses of the client directly related to the
 investigation, purchase, sale, preservation or retention of investments by the client (including all fees
 and commissions of brokers and custodians; (ii) all federal, state and local taxes and filing fees
 payable by the client; (iii) all fees and disbursements of the independent attorneys, accountants and
 consultants retained by the client, or on behalf of the client; (iv) all filing and recording fees; and (v) all
 interest expense of the client.

 Termination of the Agreement
 Although an Agreement between RVX and its clients is ongoing with adjustments made as necessary,
 the length of service to the client is at the client's discretion. The client or RVX can terminate an
 Agreement by written notice to the other party with a (60) sixty – day advance notice or as agreed
 upon otherwise between the client and RVX.
 If an agreement is terminated during a period in which the client has already paid RVX its advisory fees
in advance, then RVX will reimburse, on a pro-rated basis, the remaining advisory fees collected for any
service not rendered; these fees will be sent to the client's address of record, unless otherwise directed
by the client, within (30) days of termination of the agreement.

Item 7 Types of Clients
RVX can provide asset and/or portfolio management services to private investment vehicles,
investment companies, corporations and institutions or other entities, high net worth individuals, and
other investment advisers (domestic or foreign).

RVX currently serves as asset and/or portfolio manager to:
    Corporate and Other Retirement Plans
    Endowments and Foundations
    Public Retirement and Pension Funds
     Institutional Managers-of-Managers (domestic or foreign)
     Private Investment Vehicles

We are also equipped to serve additional types of clients, such as:
    Investment Companies
    High Net Worth Individuals
    Collective Investment Trusts

Investment minimums are based on strategy and investment vehicle.