Saber Capital Management LLC

Item 5          Fees and Compensation
A. Advisory Fees
       SCM earns its compensation by providing asset management services to the Funds and to
       Separately Managed Accounts, as summarized below.
       1. The Funds
       SCM charges no management fees to the Funds.
       “Preferred Return”: Each Limited Partner shall be entitled to a preferred return of 6% per
       annum, compounded annually, for each fiscal year on the amount of that Limited Partner’s
       capital contributions, less any withdrawn or distributed amounts (and pro-rated for any
       partial fiscal year in which such capital contributions were invested in the Fund).
       “Performance Allocation”: SCM shall receive an annual performance allocation equal to
       25% of each Limited Partner’s ratable share of the Partnership’s net capital appreciation
       that exceeds the 6% Preferred Return.
       Performance Allocations may be made at any time, in the sole discretion of the General
       Partner, for a Limited Partner who makes a partial or complete withdrawal.
       2. Separately Managed Accounts
       SCM’s compensation from separately managed account clients may take the form of: (a) a
       fee based on a percentage of the client’s assets under management (the “Management Fee”)
       and/or (b) a performance or incentive-based fee (the “Performance Fee”). Each client may
       elect to authorize SCM to deduct its fees directly from such client’s account.
                a) Management Fees
       SCM’s quarterly Management Fee may range from no such fee to 2.0% (on an annual
       basis) of the closing amount of net assets under management. The Management Fee is
       charged quarterly, based on the average net asset value of the account during the quarter.
                b) Performance Fees
       SCM’s Performance Fee will be assessed annually to qualified investors and generally
       ranges from 15.0% to 25.0% of the increase in an account’s net assets during such calendar
       year.
       Lower fees for comparable services may be available from other sources. Fees may vary
       from client to client based on client qualifications and specific circumstances. These fees
       are negotiable.

B. Billing
       Fees are deducted directly from client accounts as described in Item 5A.

Firm Brochure                                                       Saber Capital Management LLC

C. Other Fees and Expenses
    Our advisory fees are exclusive of custody charges, brokerage commissions, transaction fees,
    wire transfer fees, and other costs and expenses that may be charged by service providers
    unrelated to Saber. Please see Item 12 of this disclosure document for more information on
    our brokerage practices. Clients are billed for services from other service providers separately
    from Saber and these amounts are reported separately from our fees.
    SCM’s strategy does not typically invest in mutual funds or ETFs. Excess cash may be
    allocated to money market mutual funds or ETFs temporarily. All fees paid to Saber 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, with respect to a mutual fund previously purchased by a client before entering
    into an advisory relationship with Saber, a possible distribution fee. If a previously-purchased
    fund also imposes sales charges, a client may pay an initial or deferred sales charge. As a
    matter of practice, Saber does not utilize funds that charge a distribution fee or initial/deferred
    sales charge, but will not automatically sell out of such preexisting positions if such sale
    would trigger adverse tax consequences for a client.
    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.

Firm Brochure                                                          Saber Capital Management LLC

D. Advance Prepayment of Fees
       Advisory fees are payable in arrears so this item is not applicable.

E. Other Non-Advisory Fees and Compensation
       SCM charges no other fees to clients. However, there may be additional costs associated
       with portfolio management. Clients may incur certain charges imposed by other third
       parties in connection with investments made through the account, including, but not limited
       to, annual maintenance, brokerage, clearance, custody, and administrative fees.
       SCM publishes a periodic newsletter and charges $550 per year for access to certain
       publications of the newsletter. All clients and Limited Partners receive this newsletter at
       no cost.
       SCM does not receive compensation for the sale of securities or other investment products.

Item 7          Types of Clients
A. Types of Clients
       SCM provides discretionary investment management services to qualifying individuals and
       entities. SCM also provides investment advisory services to pooled investment vehicles.

Firm Brochure                                                        Saber Capital Management LLC

B. Conditions for Account Management
       SCM requires a $250,000 minimum account size. The minimum initial investment for the
       Funds is disclosed in the Memorandum. This account size is negotiable under certain
       circumstances.