WEBS Creek Capital Management LP

Item 5: Fees and Compensation

DESCRIPTION OF COMPENSATION AND FEE SCHEDULE
Fund Fees. In consideration of our advisory services to the Fund, we receive management fees and one of our affiliates
is entitled to receive performance allocations. The fees and expenses applicable to the Fund are set forth in detail in
the applicable governing and offering documents. A brief summary of such fees and expenses is set forth below:
      Management Fee. We receive a management fee, payable quarterly in advance, equal to a percentage of the
      capital account balance of an investor as of the beginning of such calendar quarter. The management fee for
      Class A of the Fund is calculated at an annual rate of 1.5%, and the management fee for Class B is calculated
      at an annual rate of 1.25%. The management fee for the Founders Class is calculated at an annual rate of 1.5%
      so long as the aggregate net assets of the Fund are less than $50,000,000. Thereafter, the Founders Class
      management fee is calculated at an annual rate of 1.25% until the aggregate net assets of the Fund are equal to
      or greater than $100,000,000, at which point the Founders Class management fee is calculated at an annual rate
      of 1.0%. The Management Fee for any investor is prorated for any partial quarter. Our affiliates generally are
      not subject to any management fee.
      Performance Allocation. Subject to certain terms and limitations, one of our affiliates generally is entitled to
      receive a performance-based allocation. The Class A performance-based allocation is equal to twenty percent
      (20%) of the aggregate net profits allocated to an investor in such Class at the end of the calculation period,
      which typically is the end of each calendar year. The Class B performance-based allocation is equal to seventeen
      and a half percent (17.5%) of the aggregate net profits allocated to an investor in such Class at the end of the
      calculation period, which typically is the end of the initial three-year anniversary following a capital
      contribution from the Class B investor, and, thereafter, at the end of each calendar year. The Founders Class
      performance-based allocation is equal to fifteen percent (15%) of the aggregate net profits allocated to an
      investor in such Class at the end of the calculation period, which typically is the end of each calendar year. Our
      affiliates generally are not subject to any performance allocations. The performance allocation is calculated and
      determined separately with respect to each capital contribution made by an investor.
      A “Carryforward Account” (also known as a “high water mark”) is maintained by the Fund with respect to each
      capital account of an investor. At the end of each calculation period, each Carryforward Account is (a) increased
      by the amount, if any, of negative performance change with respect to such account and (b) reduced (but not
      below zero) by the amount, if any, of positive performance change with respect to such account. Changes are
      also made to the Carryforward Account upon any withdrawals or distributions from the Fund. No performance-
      based allocation is allocated with respect to a capital account of an investor until the Carryforward Account has
      been reduced to zero.
      Each investor is required to certify that it is, among other things, an “accredited investor” and “qualified client”
      (as such terms are defined in Rule 501(a) of Regulation D under the Securities Act of 1933, as amended) and a
      “qualified purchaser” (as such term is defined in Section 2(a)(51)(A) of the Investment Company Act of 1940,
      as amended).
      Our fees with respect to each investor generally are not negotiable. However, subject to certain conditions and
      limitations, the management fee and/or performance allocation with respect to any investor may be waived or
      reduced by us or our affiliate. The Fund’s general partner, in its sole discretion, may enter into a side letter or
      similar agreement with an investor that provides for differing or additional rights or terms when compared to
      other investors, such as different management fees or performance-based allocations. Subject to applicable law,
      neither the Fund nor the Investment Manager intends to disclose the terms of such side letter agreements or the
      identities of the investors that have entered into such agreements. The Fund’s general partner generally grants
      waivers of the Fund’s management fee and performance-based allocation to principals and employees of the
      Investment Manager and its affiliates, as well as their related family members and affiliates.
SMA fees. The Investment Manager does not have a standard fee structure for SMAs. The amount and payment terms
of fees related to SMAs are addressed in their respective advisory agreements.
Relying Adviser’s fees. WCPS receives a monitoring fee from the holding company in which the SPV invests in
exchange for its research, due diligence and ongoing monitoring of the investment. SPV limited partners pay a

quarterly management fee at an annual rate of (i) one-half percent (0.50%) of such limited partners subscription
amount for the first five (5) years, and then (ii) one-fourth percent (0.25%) of such limited partners subscription
amount for the next five (5) years.
A WCPS affiliate will also receive cash distributions equal to a fifteen percent (15%) of the SPV’s profits (the “Carried
Interest”). Carried Interest is not earned and paid until limited partners of the SPV have received cumulative
distributions equal to the sum of the limited partners aggregate contributions and after a preferred return. The SPV’s
preferred return is calculated as an eight percent (8%) annual return, calculated like simple interest on each limited
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TYPES OF CLIENTS
We provide investment advisory services to affiliated private pooled investment vehicles that focus on either the public
or private market. From time to time, we will provide investment advisory services to SMAs at an investor’s request.
We may in the future provide investment advice to other types of clients.

ACCOUNT REQUIREMENTS
The minimum initial capital contribution amount required for an investor in the Fund is $1,000,000, although capital
contributions of lesser amounts may be accepted in its general partner’s discretion. The minimum capital contribution
amount required for an investor in the SPV is $5,000,000, although capital contributions of lesser amounts may be
accepted in its general partner’s discretion. We manage SMAs on a case-by-case basis taking into consideration factors
including the minimum amount of assets managed, the trading mandate of the SMA and other investment requirements
or restrictions.

To invest in the Fund or SPV, each investor is required to certify that it is, among other things, an “accredited investor”
and “qualified client” (as such terms are defined in Rule 501(a) of Regulation D under the Securities Act of 1933, as
amended) and a “qualified purchaser” (as such term is defined in Section 2(a)(51)(A) of the Investment Company Act
of 1940, as amended). Each prospective investor is required to complete and return various subscription documents to
the Fund and/or SPV, which are designed to provide the Fund and/or SPV, the administrator(s), us and our affiliates
and agents with important information about the investor. Capital contributions may be accepted or rejected, in whole
or in part, in our sole discretion.