Siharum Advisors LLC

Item 5: Fees and Compensation

 A. Fee Schedule

 Investment Consulting Fees

 Standard Fee Schedule

Total Portfolio Assets                           Annualized Fee Rate
First $25,000,000                                0.50%

Next $25,000,000                                 0.40%

Next $50,000,000                                 0.30%

Over $100,000,000                                Negotiable

 The minimum Portfolio size for investment consulting services is typically $20 million.
 This minimum is, however, subject to negotiation and may be waived by Siharum at its
 sole discretion. The fee schedule may also be subject to negotiation at Siharum’s sole
 discretion and may include fixed fee arrangements. Fees are agreed upon in writing and
 documented in the Agreement. Fees are typically invoiced to clients quarterly and in
 advance, but not more than six months in advance. Fees are typically due within 30 days
 of receipt of invoice. Fees may be withdrawn directly from the client’s Portfolio subject
 to the client’s written authorization.

 Fees that are charged in advance will be pro-rated based on days and refunded (in
 accordance with the Agreement) in the event an Agreement is terminated within a period
 that has been prepaid. Such refunds will be processed promptly.

 Clients typically may terminate their Agreement with 30 days advance written notice.

 Discretionary Investment Management Fees

 Standard Fee Schedule

Total Portfolio Assets                         Annualized Fee Rate
First $5,000,000                               1.00%

Next $5,000,000                                0.90%

Next $10,000,000                               0.75%

Over $20,000,000                               0.50%

 Standard Fee Schedule (Active Beta Strategies Only)

Total Portfolio Assets                         Annualized Fee Rate
First $5,000,000                               0.60%

Next $5,000,000                                0.50%

Next $10,000,000                               0.40%

Over $20,000,000                               0.30%

 The minimum Portfolio size for discretionary investment management services is
 typically $2.5 million. This minimum is, however, subject to negotiation and may be
 waived by Siharum at its sole discretion. The fee schedule may also be subject to
 negotiation at Siharum’s sole discretion. Fees are agreed upon in writing and documented
 in the Agreement. Fees are typically invoiced quarterly in arrears and are pro-rated for
 partial periods. Fees are typically due within 30 days of receipt of invoice. Advisory fees
 may be withdrawn directly from the client’s Portfolio subject to the client’s written
 authorization and are typically withdrawn within 2 weeks following the relevant quarter-
 end. Clients typically may terminate their Agreement with 30 days advance written
 notice.

 Third-Party Investment Manager Fees
 As described previously, Siharum typically allocates client assets to various third-party
 investment manager comingled investment products and/or separately managed
 accounts. Siharum does not receive any compensation (fees or commissions) from such
 third-party investment managers. Clients will bear any fees associated with such third-
 party investment manager products, in addition to the fees charged by Siharum as
 described above. Siharum does not recommend or allocate any client assets to investment
 products that are affiliated with the firm.

Other Fees
Additional fees may be charged where Siharum or a principal provides trustee services.
Such fees will be negotiated on a case-by-case basis.

B. Payment of Fees

Payment of Investment Consulting Fees
Investment consulting fees may be paid via check or wire transfers. Fees may also be
withdrawn directly from the client’s Portfolio subject to and in accordance with the
client’s written authorization. See also Item 5A above.

Payment of Discretionary Investment Management Fees
Discretionary investment management fees may be withdrawn directly from the client’s
Portfolio subject to and in accordance with the client’s written authorization for such
withdrawal. Fees may also be paid by check or wire transfers. See also Item 5A above.

Payment of Other Fees
Trustee services fees may be withdrawn directly from the client’s account subject to and
in accordance with the client’s written authorization for such withdrawal. Fees may also
be paid by check or wire transfers. See also Item 5A above.

C. Clients Are Responsible For Third-Party Fees

Clients are responsible for the payment of all third-party fees (i.e., custodian and
administration fees, third-party investment manager product fees, transaction fees, etc.).
Those fees are separate and distinct from the fees charged by Siharum. Please refer to

Item 7: Types of Clients
Siharum generally provides investment consulting and/or discretionary investment
management services to the following types of clients:
               Individuals and High-Net-Worth Individuals
               Pension and Profit-Sharing Plans
               Trusts, Estates, Endowments and Charitable Organizations

The minimum Portfolio size for investment consulting services is typically $20 million. The
minimum Portfolio size for discretionary investment management services is typically $2.5
million. These minimums are subject to negotiation and may be waived by Siharum at its sole
discretion.