VF Advisors LLC

Item 5 - Fees and Compensation
With respect to each Investor, a quarterly management fee will be charged in arrears. The fee is charged on the first
day of each calendar quarter. The fee schedule for the Fund is as follows: For all Investors, there will be a 0.80%
management fee on all deployed capital. A 12.5% Carried Interest is received by the General Partner after the
Investors have received their distribution and preferred return. VF Advisors will receive 45% of all management fees
paid to this fund.
Please see Item 6 for further information on the carried interest and preferred return.

Each borrower from the Fund will be required to pay an origination fee in a range from 0.50% to 3.00 %, which the
General Partner will have the sole discretion to set or waive, according to the Governing Document. This fee is
retained by the General Partner or made to pay in whole, or in part, other third parties at the sole discretion of the
General Partner.

The Fund will pay all fees, costs, expenses, liabilities and obligations relating to the Fund’s activities, investments,
and business. Specific expenses may include but are not limited to: legal, tax, accounting, auditing and other
professional advice and the advice of other consultants directly on behalf of the Fund, fees paid for third party
technology and data information services, out-of-pocket expenses related to the sourcing, due diligence and potential
acquisition of investments, regardless of whether such acquisition is actually consummated, and any other expenses
relating to the Fund (e.g., insurance, travel, etc.) (collectively, the “Fund Expenses”). More specifically: due diligence
costs as referenced above have historically included and will continue to include travel and meals for meetings with
prospect fund investors, travel and meals for meetings with prospective companies for lending opportunities, fees for
conferences, and memberships for professional organizations.

In general, the Fund is also responsible for the organizational and start-up fees, costs and expenses (“Organizational
Expenses”) for raising the Fund, up to a maximum amount as specified in the Governing Document. Organizational
Expenses include all actual out-of-pocket expenses (including travel, printing, legal, accounting, regulatory
compliance, any administrative or other filings, and any other organizational expenses) incurred in connection with
the organization, funding and start-up of the Fund, including the preparation of, and negotiations with respect to, the
Governing Document. In general, VF Advisors does not retain placement agents or other firms for the purpose of
fundraising.

VF Advisors covers its own expenses in connection with maintaining and operating its offices, such as compensation
for its employees, rent, utilities and general office expenses, and any excess expense incurred above the maximum
amount of Organizational Expenses specified in each Fund’s Governing Documents.

Note: The Governing Document provides additional information about the management fee and any
performance allocation that Fund pays us or our affiliate and the other fees that our affiliated companies may
receive in connection with that Fund’s investment activities.

Item 7 – Types of Clients
VF Advisors provides investment advisory services to pooled investment vehicles operating as private funds,
currently one private fund. Participation in the Fund via capital commitments and limited partnership interests are only
offered and sold to individual Investors that are “accredited investors” and / or “qualified purchasers” depending on
the fund, as defined in the Securities Act of 1933, as amended, and are either “qualified clients,” as defined by the
Advisors Act or “qualified purchasers” or “knowledgeable employees” as defined by the Investment Company Act of
1940, as amended. Prospective Investors should refer to the Offering Documents of the Fund for information on
minimum investment requirements. Typically, the Firm will require a minimum investment of $500,000, although, the
Firm maintains discretion to individually waive or reduce the minimum investment required. Admission to the Fund is
not open to the general public.