Seven Grand Managers LLC

Item 5 - Fees and Compensation

The below summarizes how Seven Grand is generally compensated in connection with providing
advisory services to its Clients. However, the Adviser may enter into different fee arrangements
on a Client by Client basis. A potential investor in the Funds or any potential Client should review
any and all Offering Documents in their entirety before making any investment decisions.

A. Summary of the fees and expenses paid by the Funds and Sub-Advisory Funds, respectively:

The Funds

Subject to Seven Grand’s right to receive an “Incentive Allocation” (as described below), Net
Profit and Net Loss (including unrealized as well as realized gains and losses) for each period will
be allocated in proportion to Investors’ Capital Account balances.

In addition to its proportionate share of Net Profit and Net Loss, Seven Grand will receive an
annual incentive allocation in a range from 17.5% to 25% of the Net Profit allocated to each
investor for that calendar year (“Incentive Allocation”). Depending on the Fund, Incentive
Allocations may be subject to a preferred return. An Incentive Allocation will also be made as to
amounts withdrawn, as of the effective time of the withdrawal.

Sub-Advisory Funds

The Adviser is compensated by each Sub-Advisory Fund in accordance with each Client's
respective investment management agreement. Generally, these agreements include monthly or
quarterly compensation in the form of a management fee. Depending on the investment
management agreement, Sub-Advisory Funds may also pay Seven Grand a performance fee. How
Sub-Advisory Fund management and performance fees are calculated will vary client by client.

B. As stated above, the Fund pays an Incentive Allocation to the Adviser in a proportionate share
   of Net Profit allocated to each investor. The Incentive Allocation is generally deducted by the
   Adviser from the Fund. The Adviser has the right to reduce, waive, assign, participate or
   otherwise share or modify the Incentive Allocation chargeable with respect to any investor
   (including any affiliate of the Adviser) without the consent of, or notice to, any other investor.

    Fees are not automatically deducted from the Sub-Advisory Funds. Seven Grand bills the
    applicable Sub-Advisory Fund for fees incurred. The Adviser is compensated pursuant to
    advisory agreements that were individually negotiated with each Sub-Advisory Fund.

C. The Clients will incur brokerage and other transaction costs. Additionally, Clients will incur
   expenses relating to the organization, maintenance and operation of the Client accounts
   including, but not limited to, registered agent fees, costs related to compliance, regulatory
   and AML matters, costs associated with gaining access to non-U.S. markets, all direct
   trading expenses, including but not limited to, execution and clearing commissions,
   transaction charges, ticket charges, fees and expenses incurred in the borrowing and lending
   of securities, custodian and trustee fees, bank service fees, transfer taxes, withholding taxes,

   administrative fees (including fees paid the Client’s administrator) accounting, tax
   preparation and audit fees, fees paid to third-parties retained by the Client related to the
   delivery of the trade file, and other fees and expenses related to the purchase, sale or other
   disposition of assets. Please see Item 12 for more on Seven Grand’s brokerage activities.

   The Funds will incur normal and customary expenses relating to its operations which are
   allocated among the Investors in the Fund pursuant to the terms of its Offering Documents.

   In addition, the Funds will bear all direct expenses of the Funds, including, but not limited
   to, investment-related and other trading-related expenses (including, without limitation,
   brokerage commissions, and fees, investment banking fees and expenses, expenses relating
   to short sales, clearing and settlement charges, custodial fees, bank service fees, interest on
   margin accounts and other indebtedness, borrowing charges, consulting and other
   professional fees relating to due diligence of particular investments or contemplated
   investments and reasonable travel and related expenses incurred in connection with due
   diligence), research-related expenses (including, without limitation, news and quotation
   equipment and services, subscriptions, licenses, investment-and trading-related computer
   hardware and software, including trade order management software (i.e., software used to
   route trade orders), and professional conferences), professional fees (including, without
   limitation, expenses of consultants, statisticians and experts); administration expenses
   (including the fees and expenses of any administrator); annual meeting expenses; accounting
   expenses (including portfolio accounting software); operating expenses; legal expenses; fees
   and expenses associated with the preparation or distribution of the Fund’s financial
   statements, tax returns, tax estimates and Schedule K-1s, any reporting to the Investors or
   any other administrative, regulatory or other Fund-related reporting or filing (including any
   investor administrative tools such as investor portals and third-party reporting software and
   any Fund-related filings or reports contemplated by the Alternative Investment Fund
   Managers Directive or any similar law, rule or regulation); costs of printing and mailing
   reports and notices; entity-level taxes; corporate licensing; governmental fees and regulatory
   expenses (including filing fees); expenses incurred in connection with the offering and sale
   of the interests in the Fund and other similar expenses related to the Fund; premiums for
   liability insurance covering Seven Grand, their affiliates and members, directors, officers,
   employees and agents; the Incentive Allocation; and extraordinary expenses and other
...

Item 7 - Types of Clients

Seven Grand’s Clients currently include private pooled investment vehicles and a registered
investment company.

As mentioned in Item 4, Seven Grand provides investment advisory services to its Clients based
on the investment objectives and strategies described in its Offering Documents or respective
investment management agreement.

Investors in the Funds are required to complete and submit a subscription agreement binding
them to the terms of the Fund’s governing documents. Seven Grand only admits “accredited
investors”, as defined in Rule 501(a) of Regulation D under the Securities Act of 1933 and
“qualified clients” as defined in Rule 205-3 of the Advisers Act. The minimum investment in a
Fund varies and ranges from $10,000 to $250,000 depending on the Fund Seven Grand may
accept investments into the Funds in a lesser amount at its sole discretion.