Snowcap Capital Management LLC

Fees and Compensation

Fees for financial planning and consulting are $200 to $400 per hour depending on the complexity of the
engagement. Half the fee is payable upon signing the Agreement and the balance upon delivery of the written
plan.

Fees for financial services are computed at an hourly rate. Various rates apply as determined by the person
performing the service as follows: Bookkeeping and Bill Paying: $60 per hour; Record Keeping $40 per hour.
Half the estimated fee is payable upon signing the Agreement and the balance upon delivery of the services.

Fees for investment advisory services are 1% for all accounts.

The specific manner in which fees are charged by SCM is established in the Client Agreement and in the
subscription agreement or company agreement of the Snowcap Opportunity Fund, LP. Clients determine
whether they would like SCM to directly debit fees from the Separate Management Account (“SMA”) or
Capital Account, as applicable. Customarily all fees are deducted from the SMA. These fees are for advisory
services only and do not include any transaction fees or commissions, which may be charged separately by the
broker/dealer custodial firm. See the section heading Brokerage Practices for more information.

For investment advisory services the fee will be payable quarterly. The first payment is assessed and due at the
end of the first calendar quarter and will be assessed pro rata in the event the Agreement is executed at any time
other than the first day of the current calendar quarter. Subsequent payments are due and will be assessed on
the first day after the end of each calendar quarter based on the value of the account assets under supervision as
of the close of business on the last business day of that quarter.

Payment of fees may be paid direct by the client, or client may authorize the custodian holding client funds and
securities to deduct SCM advisory fees direct from the client account in accordance with statements prepared
and submitted to the custodian by SCM. A duplicate statement will be mailed to the client. The custodian will
provide periodic account statements to the client. Such statements will reflect all fee withdrawals paid to
Snowcap Capital Management. It is the client’s responsibility to verify the accuracy of the fee calculation. The
custodian will not determine whether the fee is properly calculated.

Fees are negotiable. The minimum fee may be waived for members of the family.

Fees are not collected for services to be performed more than six months in advance.

All fees paid to SCM for investment advisory services are separate and distinct from the fees and expenses
charged by mutual funds 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 a possible distribution fee. If the
fund also imposes sales charges, a client may pay an initial or deferred sales charge. A client could invest in a
mutual fund directly without the services of SCM. In that case, the client would not receive the services
provided by SCM 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. To the extent that client assets
are invested in money market funds or cash positions, the fees for monitoring those assets are in addition to the
fees included in the internal expenses of those funds paid to their own investment managers, which are fully
disclosed in each fund’s prospectus. Accordingly, the client should review both the fees charged by the funds
and the fees charged by SCM to fully understand the total amount of fees to be paid by the client and to thereby
evaluate the advisory services being provided.

                                         Snowcap Capital Management, LLC
                                               Disclosure Brochure

For investment advisory agreements, services will continue until either party terminates the Agreement. Each
agreement provides that the client may terminate the agreement within five business days of its effective date
without paying any fees or penalties. The agreement also provides that once the initial five-day period has
passed, either party to the agreement may terminate the agreement at any time by providing thirty days written
notice.

If termination occurs prior to the end of a calendar quarter, the client will be invoiced for fees due on a pro-rata
basis.

Financial Planning or Other Financial Services
For financial planning or other financial services, the client may terminate the Agreement at any time and a
refund of the unearned fees will be made based on time and effort expended before termination. The
Agreement for financial planning or other financial services terminates upon delivery of the plan or services. At
this time no refunds will be made.

The Advisory Agreement contains a pre-dispute arbitration clause. Client understands that the agreement to
arbitrate does not constitute a waiver of the right to seek a judicial forum where such a waiver would be void
under the federal securities laws. Arbitration is final and binding on the parties.

Generally, all the normal recurring operating expenses including rent, utilities, telephone, equipment expenses
and administrative salaries are borne by SCM. For the most part the only other expenses which may be
assumed by the Snowcap Opportunity Fund LP and Turkey Sands Gas, LLC in addition to SCM’s
compensation (as detailed in the subscription agreement or company operating agreement) are custody, legal
and auditing fees, transaction costs and commissions incurred through trading and any other expenses which
SCM reasonable determines not to be normal and recurring operating expenses.

Performance-Based Fees and Side-By-Side Management

We do not accept performance-based fees.

Types of Clients

Snowcap Capital Management provides advisory services to the following types of clients:

   •   High Net Worth Individuals
   •   Trusts, Estates or Charitable Organizations
   •   Corporations, Limited Liability Companies, Partnerships and/or Other Business Types
   •   Pooled Investment Vehicles

Generally, the minimum account size is $1,000,000, subject to a minimum annual fee of $5,000. The minimum
fee would increase the maximum percentage rate paid on smaller accounts to more than 1% annualized as
shown on the standard fee schedule. However, in no case would the fee exceed 2% per year.

There is no minimum for clients retaining financial planning services.

Methods of Analysis, Investment Strategies, and Risk of Loss

We use the following methods of analysis in formulating our investment advise and/or managing client assets:

                                          Snowcap Capital Management, LLC
                                                Disclosure Brochure

     •   Charting: We review charts of market and security activity to identify when the market is moving up
         or down and to predict when or how long the trend may last and when a trend may reverse.
     •   Cyclical Analysis: We measure movements of a particular stock against the overall market to predict
         the price movement of a security.
     •   Fundamental Analysis: We attempt to measure the intrinsic value of a security by looking at
         economic and financial factors to determine if a company is underpriced (good to buy) or overpriced
         (good to sell). Fundamental analysis does not attempt to anticipate market movements. There is
         always the potential risk of a security moving up or moving down with the overall market regardless of
         the economic or financial factors considered in evaluating a stock.
     •   Technical Analysis: We analyze past market movements and apply that analysis to the present to
         recognize recurring patterns of investor behavior and potentially predict price movements. Technical
         analysis does not consider the underlying financial condition of a company. This presents risk in that a
         poorly managed or financially unsound company may underperform regardless of the overall market
         movement.

Snowcap Capital Management may use the following, but not all, strategies in managing client accounts
provided that such strategies are appropriate to the needs of the client and consistent with the client’s
investment objectives, risk tolerance and time horizons:
     • Long-Term: When utilizing this strategy, we may purchase securities with the idea of holding them for
        a relatively long time (a year or more). Typically, we employ this strategy when we believe the
        securities to be well valued.
     • Short-Term: When utilizing this strategy, we may purchase securities with the idea of holding them for
        a relatively short period of time (less than one year). We do this to take advantage of a swift price
        swing in the securities we purchase.
     • Margin Transactions: We may purchase securities for your portfolio with money borrowed from your
        account. This allows you to purchase more securities than you would be able to with your available
        cash and allows us to purchase securities without selling other holdings.
     • Option Writing: We may use options as an investment strategy. An option is a contract that gives the
        buyer the right, but not the obligation, to buy or sell an asset (such as a share of stock) at a specific
        price on or before a certain date. An option is a security and a derivative because it derives its value
        from an underlying asset. The two types of options are puts and calls. We may use options to “hedge”
        a purchase of an underlying security. We may use “covered calls” or a “spread strategy”, as well.
        These strategies are explained in detail to the client if they are used.

By its nature, financial planning looks to the long-term. After the client's short-term cash needs and emergency
fund are evaluated, investment and insurance strategies are designed to help the client achieve his or her
financial goals. Casualty insurance (e.g., homeowner's, auto, liability, etc.) is reviewed only at the client's
request, and would be provided by an outside casualty firm.

While there is risk in all investments, some carry a greater degree of risk or higher costs. There is no guarantee
that the investment strategy selected for the client will result in the client’s goals being met, nor is there any
guarantee of profit or protection from loss. For those investments sold by prospectus, clients should read the
prospectus in full.

Snowcap Capital Management discloses those risks and opportunities for our investment strategy or for
investments used.
    • Debt securities are subject to interest rate risk. In our fixed-income approach, SCM generally
       recommends municipal bonds in taxable accounts and investment grade quality corporate bonds and/or
       treasuries in tax-deferred accounts to maximize after-tax returns.
                                         Snowcap Capital Management, LLC
                                               Disclosure Brochure

   •   High yield securities are corporate debt securities rated below investment grade. We generally do not
       recommend these investments.
   •   By timing the buys and sells, we endeavor to control the risks by carefully watching trends in the market
       and partnering with our brokerage relationships to obtain timely execution of trades.
   •   There are tax consequences for short-term trading wherein capital gains are taxed as ordinary income.
       SCM seeks to acquire equities and fixed-income instruments that will be held for at least a year to
       capitalize on the more favorable long-term capital gains tax treatment.
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