Structural Solutions LLC

ITEM	5.	FEES	AND	COMPENSATION

    Each	Fund	pays	a	fixed	fee	per	annum.	This	fee	varies	across	Funds	and	accounts	as	a
    function	of	size	and	other	considerations.	The	fee	is	deducted	at	Fund	inception	and
    annually	thereafter;	our	management	agreement	does	not	provide	for	refunds	or	pro-ration
    in	the	event	of	subsequent	termination.

    Structural	Management	LLC	does	not	charge	a	fee	for	separately	managed	accounts,	which
    are	invested	into	the	Funds.

    Structural	charges	an	hourly	rate	of	$750	for	advice	to	high	net	worth	clients.	This	fee	was
    adopted	in	order	to	discourage	requests	for	advice	without	offending	anyone	through
    outright	refusal.

    The	Firm	provides	non-discretionary	advisory	services	to	certain	non-profits	of	particular
    significance	to	Mr.	Hornstein.	These	each	pay	an	annual	fee	of	$1.	Needless	to	say,	this	work
    is	not	commercially	motivated.	Rather,	the	fee	is	intended	to	convey	that	that	Structural	has
    a	fiduciary	duty	to	these	non-profits	and	their	boards	and	investment	committees.

    Funds,	separately	managed	accounts,	and	advisory	clients	all	incur	costs	beyond	the	fees
    payable	to	Structural.	These	include	management	fees,	carried	interest	(share	in	positive
    investment	return),	and	expense	reimbursements	due	to	funds	in	which	Structural’s	clients
    invest.	These	also	include	reimbursement	of	Structural	expenses	specific	to	a	client	(e.g.,
    notary	fees	and	overnight	mail),	wire	fees	and	other	banking	costs,	brokerage	fees	and	other
    transaction	costs	(See	Item	12).	Structural	supports	audit	by	third-parties	of	a	client’s
    choosing;	the	cost	of	such	audits	is	likewise	borne	by	the	client	or	client-specific	Fund.

    Neither	Structural	nor	any	of	the	Firm’s	supervised	persons	accepts	compensation	for	the
    sale	of	securities	or	other	investment	products.

ITEM	7.	TYPES	OF	CLIENTS

    As	described	in	Item	4	of	this	Brochure,	Structural’s	business	focus	is	the	management	of
    Funds,	which	are	themselves	the	legal	clients	of	the	Firm.	Investors	in	the	Funds	include
    insurance	company	separate	accounts,	trusts,	non-profits,	and	high	net	worth	individuals.
    Structural	evaluates	small	investments	in	the	Funds	on	a	case	by	case	basis	but	to	date	has
    adopted	no	hard	rule;	currently,	the	smallest	commitment	to	a	Fund	is	$100,000.

    Individuals	 and	 families	 (or	 third-parties,	 such	 as	 insurers,	 acting	 on	 their	 behalf)	 may,
    where	warranted,	request	that	Structural	manage	a	Fund	tailored	to	specific	parameters
    and	not	available	to	others.	Structural	has	no	formal	minimum	for	such	tailored	Funds,	but
    observes	that	the	costs	associated	with	such	vehicles	generally	make	tailored	Funds	only
    suitable	where	at	least	several	million	will	be	invested.

    The	 smallest	 non-Fund	 separate	 account	 Structural	 currently	 manages	 is	 just	 under	 $10
    million.	As	discussed	in	Item	5,	the	Firm	does	not	seek	out	such	business	from	clients	of
    any	size,	let	alone	clients	smaller	than	$10	million.	However,	the	Firm	has	no	hard	rule	and
    it	is	possible	that	a	client	with	fewer	investable	assets	today	would	be	deemed	a	suitable
    client.