Common use of Additional Fees and Expenses Clause in Contracts

Additional Fees and Expenses. In addition to our advisory fees, clients are also responsible for the fees and expenses charged by custodians and imposed by broker-dealers, including, but not limited to, any transaction charges imposed by a broker-dealer with which an independent investment manager effects transactions for the client's account(s). Please refer to the "Brokerage Practices" section (Item 12) of this Form ADV for additional information. Clients should note that similar advisory services may (or may not) be available from other registered (or unregistered) investment advisors for similar or lower fees. We do not charge performance-based fees. However, we will be investing the IRON Equity Premium Income Fund in the same or similar manner as some separately managed accounts. Therefore, we may have an incentive to favor the IRON Equity Premium Income Fund over separately managed accounts that have the same or similar strategy. As a result we have designed processes and procedures to ensure that we do not favor one fee paying account over another. Please refer to item 12 below. We provide advisory services to the following types of clients: • Individuals (other than high net worth individuals) • High net worth individuals • Investment companies (including mutual funds) • Pension and profit sharing plans (other than plan participants) • Charitable organizations • Corporations or other businesses not listed above As previously disclosed in Item 5, we have established certain initial minimum account requirements, based on the nature of the service(s) being provided. For a more detailed understanding of those requirements, please review the disclosures provided in each applicable service. We use the following methods of analysis in formulating our investment advice and/or managing client assets: