Common use of Out-of-Pocket Expenses Clause in Contracts

Out-of-Pocket Expenses. The Fund(s) shall pay all reasonable out-of-pocket expenses incurred by NLD in connection with activities performed for the Fund(s) hereunder including, without limitation: · typesetting, printing and distribution of prospectuses and shareholder reports · production, printing, distribution and placement of advertising and sales literature and materials · engagement of designers, free-lxxxx writers and public relations firms · long-distance telephone lines, services and charges · postage UNDERWRITING AGREEMENT Schedule B Fee Schedule · overnight delivery charges · FINRA and registration fees · marketing expenses · record retention fees · travel, lodging and meals · NSCC charges · Fund platform fees and service fees · website monitoring fees In the event the fees authorized by the Fund for payment to NLD are insufficient to cover the fees due to NLD for its services provided hereunder, Vertical Capital Asset Management, LLC, the investment adviser to the Fund agrees to pay NLD the remaining balance of any fees due and payable to NLD according to this fee schedule within 15 days of request.

Out-of-Pocket Expenses. The Fund(s) shall pay all reasonable out-of-pocket expenses incurred by NLD in connection with activities performed for the Fund(s) hereunder including, without limitation: · typesetting, printing and distribution of prospectuses and shareholder reports · production, printing, distribution and placement of advertising and sales literature and materials · engagement of designers, free-lxxxx writers lancx xxxters and public relations firms · long-distance telephone lines, services and charges · postage UNDERWRITING AGREEMENT Schedule B Fee Schedule · overnight delivery charges · FINRA and registration fees · marketing expenses · record retention fees · travel, lodging and meals · NSCC charges · Fund platform fees and service fees · website Website monitoring fees In the event the fees authorized by the Fund Fund(s) for payment to NLD are insufficient to cover the fees due to NLD for its services provided hereunder, Vertical Capital Asset Absolute Investment Management, LLC, LLC the investment adviser to the Fund Fund(s), agrees to pay NLD the remaining balance of any fees due and payable to NLD according to this fee schedule within 15 days of request.

Out-of-Pocket Expenses. The Fund(s) shall pay all reasonable out-of-pocket expenses incurred by NLD in connection with activities performed for the Fund(s) hereunder including, without limitation: · ● typesetting, printing and distribution of prospectuses and shareholder reports · ● production, printing, distribution and placement of advertising and sales literature and materials · ● engagement of designers, free-lxxxx writers and public relations firms · ● long-distance telephone lines, services and charges · ● postage UNDERWRITING AGREEMENT Schedule B Fee Schedule · Page 2 of 2 ● overnight delivery charges · ● FINRA and registration fees · ● marketing expenses · ● record retention fees · ● travel, lodging and meals · ● NSCC charges · ● Fund platform fees and service fees · website ● Website monitoring fees In the event the fees authorized by the Fund for payment to NLD are insufficient to cover the fees due to NLD for its services provided hereunder, Vertical Capital Asset ManagementBehringer Advisors, LLC, the investment adviser to the Fund Fund, agrees to pay NLD the remaining balance of any fees due and payable to NLD according to this fee schedule within 15 days of request.

Out-of-Pocket Expenses. The Fund(s) shall pay all reasonable out-of-pocket expenses incurred by NLD in connection with activities performed for the Fund(s) hereunder including, without limitation: · typesetting, printing and distribution of prospectuses and shareholder reports · production, printing, distribution and placement of advertising and sales literature and materials · engagement of designers, free-lxxxx writers and public relations firms · long-distance telephone lines, services and charges · postage UNDERWRITING AGREEMENT Schedule B BlueArc Multi-Strategy Fund Fee Schedule · postage overnight delivery charges · FINRA and registration fees · marketing expenses · record retention fees · travel, lodging and meals · NSCC charges · Fund platform fees and service fees · website monitoring fees In the event the fees authorized by the Fund Fund(s) for payment to NLD are insufficient to cover the fees due to NLD for its services provided hereunder, Vertical BlueArc Capital Asset Management, LLC, the investment adviser to the Fund Fund(s), agrees to pay NLD the remaining balance of any fees due and payable to NLD according to this fee schedule within 15 days of request.

Out-of-Pocket Expenses. The Fund(s) shall pay all reasonable out-of-pocket expenses incurred by NLD in connection with activities performed for the Fund(s) hereunder including, without limitation: · typesetting, printing and distribution of prospectuses and shareholder reports · production, printing, distribution and placement of advertising and sales literature and materials · engagement of designers, free-lxxxx writers lancx xxxters and public relations firms · long-distance telephone lines, services and charges · postage UNDERWRITING AGREEMENT Schedule B B–18 Fee Schedule · overnight delivery charges · FINRA and registration fees · marketing expenses · record retention fees · travel, lodging and meals · NSCC charges · Fund platform fees and service fees · website Website monitoring fees In the event the fees authorized by the Fund Fund(s) for payment to NLD are insufficient to cover the fees due to NLD for its services provided hereunder, Vertical Capital Longboard Asset Management, LLC, LLC the investment adviser to the Fund Fund(s), agrees to pay NLD the remaining balance of any fees due and payable to NLD according to this fee schedule within 15 days of request.

Out-of-Pocket Expenses. The Fund(s) shall pay all reasonable out-of-pocket expenses incurred by NLD in connection with activities performed for the Fund(s) hereunder including, without limitation: · typesetting, printing and distribution of prospectuses and shareholder reports · production, printing, distribution and placement of advertising and sales literature and materials · engagement of designers, free-lxxxx writers lancx xxxters and public relations firms · long-distance telephone lines, services and charges · postage UNDERWRITING AGREEMENT Schedule B B–19 Fee Schedule · overnight delivery charges · FINRA and registration fees · marketing expenses · record retention fees · travel, lodging and meals · NSCC charges · Fund platform fees and service fees · website Website monitoring fees In the event the fees authorized by the Fund Fund(s) for payment to NLD are insufficient to cover the fees due to NLD for its services provided hereunder, Vertical Capital North Peak Asset Management, LLC, LLC the investment adviser to the Fund Fund(s), agrees to pay NLD the remaining balance of any fees due and payable to NLD according to this fee schedule within 15 days of request.

Out-of-Pocket Expenses. The Fund(s) shall pay all reasonable out-of-pocket expenses incurred by NLD in connection with activities performed for the Fund(s) hereunder including, without limitation: · typesetting, printing and distribution of prospectuses and shareholder reports · production, printing, distribution and placement of advertising and sales literature and materials · engagement of designers, free-lxxxx writers lancx xxxters and public relations firms · long-distance telephone lines, services and charges · postage UNDERWRITING AGREEMENT Schedule B Fee Schedule · overnight delivery charges · FINRA and registration fees · marketing expenses · record retention fees · travel, lodging and meals · NSCC charges · Fund platform fees and service fees · website Website monitoring fees In the event the fees authorized by the Fund Fund(s) for payment to NLD are insufficient to cover the fees due to NLD for its services provided hereunder, Vertical Capital Asset ManagementKottke Managed Commodities, LLC, the investment adviser to the Fund Fund(s), agrees to pay NLD the remaining balance of any fees due and payable to NLD according to this fee schedule within 15 days of request.

Out-of-Pocket Expenses. The Fund(s) shall pay all reasonable out-of-pocket expenses incurred by NLD in connection with activities performed for the Fund(s) hereunder including, without limitation: · typesetting, printing and distribution of prospectuses and shareholder reports · production, printing, distribution and placement of advertising and sales literature and materials · engagement of designers, free-lxxxx writers and public relations firms · long-distance telephone lines, services and charges · postage UNDERWRITING AGREEMENT Schedule B Fee Schedule · overnight delivery charges · FINRA and registration fees · marketing expenses · record retention fees · travel, lodging and meals · NSCC charges · Fund platform fees and service fees · website monitoring fees In the event the fees authorized by the Fund for payment to NLD are insufficient to cover the fees due to NLD for its services provided hereunder, Vertical GL Capital Asset ManagementPartners, LLC, the investment adviser to the Fund agrees to pay NLD the remaining balance of any fees due and payable to NLD according to this fee schedule within 15 days of request.

Out-of-Pocket Expenses. The Fund(s) shall pay all reasonable out-of-pocket expenses incurred by NLD in connection with activities performed for the Fund(s) hereunder including, without limitation: · typesetting, printing and distribution of prospectuses and shareholder reports · production, printing, distribution and placement of advertising and sales literature and materials · engagement of designers, free-lxxxx writers lancx xxxters and public relations firms · long-distance telephone lines, services and charges · postage UNDERWRITING AGREEMENT Schedule B B–14 Fee Schedule · overnight delivery charges · FINRA and registration fees · marketing expenses · record retention fees · travel, lodging and meals · NSCC charges · Fund platform fees and service fees · website Website monitoring fees In the event the fees authorized by the Fund Fund(s) for payment to NLD are insufficient to cover the fees due to NLD for its services provided hereunder, Vertical Capital Asset ManagementNorth Capital, LLC, Inc. the investment adviser to the Fund Fund(s), agrees to pay NLD the remaining balance of any fees due and payable to NLD according to this fee schedule within 15 days of request.

Out-of-Pocket Expenses. The Fund(s) shall pay all reasonable out-of-pocket expenses incurred by NLD in connection with activities performed for the Fund(s) hereunder including, without limitation: · typesetting, printing and distribution of prospectuses and shareholder reports UNDERWRITING AGREEMENT Schedule B Fee Schedule · production, printing, distribution and placement of advertising and sales literature and materials · engagement of designers, free-lxxxx xxxxx writers and public relations firms · long-distance telephone lines, services and charges · postage UNDERWRITING AGREEMENT Schedule B Fee Schedule · overnight delivery charges · FINRA and registration fees · marketing expenses · record retention fees · travel, lodging and meals · NSCC charges · Fund platform fees and service fees · website Website monitoring fees In the event the fees authorized by the Fund Fund(s) for payment to NLD are insufficient to cover the fees due to NLD for its services provided hereunder, Vertical AmericaFirst Capital Asset Management, LLC, the investment adviser to the Fund Fund(s) agrees to pay NLD the remaining balance of any fees due and payable to NLD according to this fee schedule within 15 days of request.

Out-of-Pocket Expenses. The Fund(s) shall pay all reasonable out-of-pocket expenses incurred by NLD in connection with activities performed for the Fund(s) hereunder including, without limitation: · typesetting, printing and distribution of prospectuses and shareholder reports · production, printing, distribution and placement of advertising and sales literature and materials · engagement of designers, free-lxxxx xxxxx writers and public relations firms · long-distance telephone lines, services and charges · postage UNDERWRITING AGREEMENT Schedule B Fee Schedule · overnight delivery charges · FINRA and registration fees · marketing expenses · record retention fees · travel, lodging and meals · NSCC charges · Fund platform fees and service fees · website web site monitoring fees In the event the fees authorized by the Fund Fund(s) for payment to NLD are insufficient to cover the fees due to NLD for its services provided hereunder, Vertical Capital Asset ManagementHorizon Investments, LLC, LLC the investment adviser to the Fund Fund(s) agrees to pay NLD the remaining balance of any fees due and payable to NLD according to this fee schedule within 15 days of request.

Out-of-Pocket Expenses. The Fund(s) shall pay all reasonable out-of-pocket expenses incurred by NLD in connection with activities performed for the Fund(s) hereunder including, without limitation: · typesetting, printing and distribution of prospectuses and shareholder reports · production, printing, distribution and placement of advertising and sales literature and materials · engagement of designers, free-lxxxx xxxxx writers and public relations firms · long-distance telephone lines, services and charges · postage UNDERWRITING AGREEMENT Schedule B Fee Schedule · overnight delivery charges · FINRA and registration fees · marketing expenses · record retention fees · travel, lodging and meals · NSCC charges · Fund platform fees and service fees · website web-site monitoring fees expenses In the event the fees authorized by the Fund Fund(s) for payment to NLD are insufficient to cover the fees due to NLD for its services provided hereunder, Vertical Capital Asset ManagementDMS Advisors, LLCInc., the investment adviser to the Fund Fund(s) agrees to pay NLD the remaining balance of any fees due and payable to NLD according to this fee schedule within 15 days of request.

Out-of-Pocket Expenses. The Fund(s) shall pay all reasonable out-of-pocket expenses incurred by NLD in connection with activities performed for the Fund(s) hereunder including, without limitation: · typesetting, printing and distribution of prospectuses and shareholder reports · production, printing, distribution and placement of advertising and sales literature and materials · engagement of designers, free-lxxxx writers lancx xxxters and public relations firms · long-distance telephone lines, services and charges · postage UNDERWRITING AGREEMENT Schedule B Fee Schedule · overnight delivery charges · FINRA and registration fees · marketing expenses · record retention fees · travel, lodging and meals · NSCC charges · Fund platform fees and service fees · website Website monitoring fees In the event the fees authorized by the Fund Fund(s) for payment to NLD are insufficient to cover the fees due to NLD for its services provided hereunder, Vertical Capital Asset ManagementCrow Point Partners, LLC, LLC the investment adviser to the Fund Fund(s), agrees to pay NLD the remaining balance of any fees due and payable to NLD according to this fee schedule within 15 days of request.

Out-of-Pocket Expenses. The Fund(s) shall pay all reasonable out-of-pocket expenses incurred by NLD in connection with activities performed for the Fund(s) hereunder including, without limitation: · typesetting, printing and distribution of prospectuses and shareholder reports · production, printing, distribution and placement of advertising and sales literature and materials · engagement of designers, free-lxxxx writers lancx xxxters and public relations firms · long-distance telephone lines, services and charges · postage UNDERWRITING AGREEMENT Schedule B Fee Schedule · overnight delivery charges · FINRA and registration fees · marketing expenses · record retention fees · travel, lodging and meals · NSCC charges · Fund platform fees and service fees · website Website monitoring fees In the event the fees authorized by the Fund for payment to NLD are insufficient to cover the fees due to NLD for its services provided hereunder, Vertical Capital Asset Management, LLC, the investment adviser to the Fund agrees to pay NLD the remaining balance of any fees due and payable to NLD according to this fee schedule within 15 days of request.

Out-of-Pocket Expenses. The Fund(s) shall pay all reasonable out-of-pocket expenses incurred by NLD in connection with activities performed for the Fund(s) hereunder including, without limitation: · typesetting, printing and distribution of prospectuses and shareholder reports · production, printing, distribution and placement of advertising and sales literature and materials · engagement of designers, free-lxxxx writers lancx xxxters and public relations firms · long-distance telephone lines, services and charges · postage UNDERWRITING AGREEMENT Schedule B Fee Schedule · overnight delivery charges · FINRA and registration fees · marketing expenses · record retention fees · travel, lodging and meals · NSCC charges · Fund platform fees and service fees · website Website monitoring fees In the event the fees authorized by the Fund Fund(s) for payment to NLD are insufficient to cover the fees due to NLD for its services provided hereunder, Vertical AIS Capital Asset Management, LLC, LLC the investment adviser to the Fund Fund(s), agrees to pay NLD the remaining balance of any fees due and payable to NLD according to this fee schedule within 15 days of request.

Out-of-Pocket Expenses. The Fund(s) shall pay all reasonable out-of-pocket expenses incurred by NLD in connection with activities performed for the Fund(s) hereunder including, without limitation: · typesetting, printing and distribution of prospectuses and shareholder reports · production, printing, distribution and placement of advertising and sales literature and materials · engagement of designers, free-lxxxx xxxxx writers and public relations firms · long-distance telephone lines, services and charges · postage UNDERWRITING AGREEMENT Schedule B Fee Schedule · overnight delivery charges · FINRA and registration fees · marketing expenses · record retention fees · travel, lodging and meals · NSCC charges · Fund platform fees and service fees · website monitoring fees In the event the fees authorized by the Fund for payment to NLD are insufficient to cover the fees due to NLD for its services provided hereunder, Vertical GL Capital Asset ManagementPartners, LLC, the investment adviser to the Fund agrees to pay NLD the remaining balance of any fees due and payable to NLD according to this fee schedule within 15 days of request.

Out-of-Pocket Expenses. The Fund(s) shall pay all reasonable out-of-pocket expenses incurred by NLD in connection with activities performed for the Fund(s) hereunder including, without limitation: · typesetting, printing and distribution of prospectuses and shareholder reports · production, printing, distribution and placement of advertising and sales literature and materials · engagement of designers, free-lxxxx writers lancx xxxters and public relations firms · long-distance telephone lines, services and charges · postage UNDERWRITING AGREEMENT Schedule B Fee Schedule · overnight delivery charges · FINRA and registration fees · marketing expenses · record retention fees · travel, lodging and meals · NSCC charges · Fund platform fees and service fees · website Website monitoring fees In the event the fees authorized by the Fund Fund(s) for payment to NLD are insufficient to cover the fees due to NLD for its services provided hereunder, Vertical Capital Asset Management, LLCNorth Star Investment Management Corporation, the investment adviser to the Fund Fund(s), agrees to pay NLD the remaining balance of any fees due and payable to NLD according to this fee schedule within 15 days of request.

Out-of-Pocket Expenses. The Fund(s) shall pay all reasonable out-of-pocket expenses incurred by NLD in connection with activities performed for the Fund(s) hereunder including, without limitation: · typesetting, printing and distribution of prospectuses and shareholder reports · production, printing, distribution and placement of advertising and sales literature and materials · engagement of designers, free-lxxxx writers lancx xxxters and public relations firms · long-distance telephone lines, services and charges · postage UNDERWRITING AGREEMENT Schedule B Fee Schedule · overnight delivery charges · FINRA and registration fees · marketing expenses · record retention fees · travel, lodging and meals · NSCC charges · Fund platform fees and service fees · website Website monitoring fees In the event the fees authorized by the Fund Fund(s) for payment to NLD are insufficient to cover the fees due to NLD for its services provided hereunder, Vertical Capital Witherspoon Asset Management, LLC, the investment adviser to the Fund Fund(s), agrees to pay NLD the remaining balance of any fees due and payable to NLD according to this fee schedule within 15 days of request.

Out-of-Pocket Expenses. The Fund(s) shall pay all reasonable out-of-pocket expenses incurred by NLD in connection with activities performed for the Fund(s) hereunder including, without limitation: · typesetting, printing and distribution of prospectuses and shareholder reports · production, printing, distribution and placement of advertising and sales literature and materials · engagement of designers, free-lxxxx writers lance xxxxxrs and public relations firms · long-distance telephone lines, services and charges · postage UNDERWRITING AGREEMENT Schedule B Fee Schedule · overnight delivery charges · FINRA and registration fees · marketing expenses · record retention fees · travel, lodging and meals · NSCC charges · Fund platform fees and service fees · website web site monitoring fees In the event the fees authorized by the Fund Fund(s) for payment to NLD are insufficient to cover the fees due to NLD for its services provided hereunder, Vertical Capital Asset ManagementHorizon Investments, LLC, LLC the investment adviser to the Fund Fund(s) agrees to pay NLD the remaining balance of any fees due and payable to NLD according to this fee schedule within 15 days of request.

Out-of-Pocket Expenses. The Fund(s) shall pay all reasonable out-of-pocket expenses incurred by NLD in connection with activities performed for the Fund(s) hereunder including, without limitation: · typesetting, printing and distribution of prospectuses PPMs and shareholder reports · production, printing, distribution and placement of advertising and sales literature and materials · engagement of designers, free-lxxxx writers and public relations firms · long-distance telephone lines, services and charges · postage UNDERWRITING DISTRIBUTION AGREEMENT Schedule B Princeton Private Investments Access Fund Fee Schedule · postage overnight delivery charges · FINRA and registration fees · marketing expenses · record retention fees · travel, lodging and meals · NSCC charges · Fund platform fees and service fees · website monitoring fees In the event the fees authorized by the Fund Fund(s) for payment to NLD are insufficient to cover the fees due to NLD for its services provided hereunder, Vertical Capital Asset ManagementPrinceton Fund Advisors, LLC, the investment adviser to the Fund Fund(s), agrees to pay NLD the remaining balance of any fees due and payable to NLD according to this fee schedule within 15 days of request.

Out-of-Pocket Expenses. The Fund(s) shall pay all reasonable out-of-pocket expenses incurred by NLD in connection with activities performed for the Fund(s) hereunder including, without limitation: · typesetting, printing and distribution of prospectuses and shareholder reports · production, printing, distribution and placement of advertising and sales literature and materials · engagement of designers, free-lxxxx writers and public relations firms · long-distance telephone lines, services and charges · postage UNDERWRITING AGREEMENT Schedule B Fee Schedule · overnight delivery charges · FINRA and registration fees · marketing expenses · record retention fees · travel, lodging and meals · NSCC charges · Fund platform fees and service fees · website monitoring fees In the event the fees authorized by the Fund Fund(s) for payment to NLD are insufficient to cover the fees due to NLD for its services provided hereunder, Vertical Ascentia Capital Asset ManagementPartners, LLC, the investment adviser to the Fund Fund(s) agrees to pay NLD the remaining balance of any fees due and payable to NLD according to this fee schedule within 15 days of request.

Out-of-Pocket Expenses. The Fund(s) shall pay all reasonable out-of-pocket expenses incurred by NLD in connection with activities performed for the Fund(s) hereunder including, without limitation: · typesetting, printing and distribution of prospectuses and shareholder reports · production, printing, distribution and placement of advertising and sales literature and materials · engagement of designers, free-lxxxx writers lancx xxxters and public relations firms · long-distance telephone lines, services and charges · postage UNDERWRITING AGREEMENT Schedule B Fee Schedule · overnight delivery charges · FINRA and registration fees · marketing expenses · record retention fees · travel, lodging and meals · NSCC charges · Fund platform fees and service fees · website Website monitoring fees In the event the fees authorized by the Fund Fund(s) for payment to NLD are insufficient to cover the fees due to NLD for its services provided hereunder, Vertical Capital Asset Management, Milliman Financial Risk Management LLC, the investment adviser to the Fund Fund(s), agrees to pay NLD the remaining balance of any fees due and payable to NLD according to this fee schedule within 15 days of request.

Out-of-Pocket Expenses. The Fund(s) shall pay all reasonable out-of-pocket expenses incurred by NLD in connection with activities performed for the Fund(s) hereunder including, without limitation: · typesetting, printing and distribution of prospectuses and shareholder reports · production, printing, distribution and placement of advertising and sales literature and materials · engagement of designers, free-lxxxx writers lancx xxxters and public relations firms · long-distance telephone lines, services and charges · postage UNDERWRITING AGREEMENT Schedule B Fee Schedule · overnight delivery charges · FINRA and registration fees · marketing expenses · record retention fees · travel, lodging and meals · NSCC charges · Fund platform fees and service fees · website Website monitoring fees In the event the fees authorized by the Fund Fund(s) for payment to NLD are insufficient to cover the fees due to NLD for its services provided hereunder, Vertical Capital Asset Braver Wealth Management, LLC, LLC the investment adviser to the Fund Fund(s), agrees to pay NLD the remaining balance of any fees due and payable to NLD according to this fee schedule within 15 days of request.

Out-of-Pocket Expenses. The Fund(s) shall pay all reasonable out-of-pocket expenses incurred by NLD in connection with activities performed for the Fund(s) hereunder including, without limitation: · typesetting, printing and distribution of prospectuses and shareholder reports · production, printing, distribution and placement of advertising and sales literature and materials · engagement of designers, free-lxxxx writers lancx xxxters and public relations firms · long-distance telephone lines, services and charges · postage UNDERWRITING AGREEMENT Schedule B Fee Schedule · overnight delivery charges · FINRA and registration fees · marketing expenses · record retention fees · travel, lodging and meals · NSCC charges · Fund platform fees and service fees · website Website monitoring fees In the event the fees authorized by the Fund Fund(s) for payment to NLD are insufficient to cover the fees due to NLD for its services provided hereunder, Vertical Capital Asset ManagementSolutions Funds Group, LLCInc., the investment adviser to the Fund Fund(s), agrees to pay NLD the remaining balance of any fees due and payable to NLD according to this fee schedule within 15 days of request.

Out-of-Pocket Expenses. The Fund(s) shall pay all reasonable out-of-pocket expenses incurred by NLD in connection with activities performed for the Fund(s) hereunder including, without limitation: · typesetting, printing and distribution of prospectuses and shareholder reports · production, printing, distribution and placement of advertising and sales literature and materials · engagement of designers, free-lxxxx xxxxx writers and public relations firms · long-distance telephone lines, services and charges · postage UNDERWRITING AGREEMENT Schedule B B–1 Horizon Active Asset Allocation Fund Horizon Active Income Fund Horizon Active Risk Assist Fund Fee Schedule · overnight delivery charges · FINRA and registration fees · marketing expenses · record retention fees · travel, lodging and meals · NSCC charges · Fund platform fees and service fees · website web site monitoring fees In the event the fees authorized by the Fund Fund(s) for payment to NLD are insufficient to cover the fees due to NLD for its services provided hereunder, Vertical Capital Asset ManagementHorizon Investments, LLC, the investment adviser to the Fund Fund(s), agrees to pay NLD the remaining balance of any fees due and payable to NLD according to this fee schedule within 15 days of request.

Out-of-Pocket Expenses. The Fund(s) shall pay all reasonable out-of-pocket expenses incurred by NLD in connection with activities performed for the Fund(s) hereunder including, without limitation: · typesetting, printing and distribution of prospectuses and shareholder reports · production, printing, distribution and placement of advertising and sales literature and materials · engagement of designers, free-lxxxx writers lancx xxxters and public relations firms · long-distance telephone lines, services and charges · postage UNDERWRITING AGREEMENT Schedule B Fee Schedule · overnight delivery charges · FINRA and registration fees · marketing expenses · record retention fees · travel, lodging and meals · NSCC charges · Fund platform fees and service fees · website Website monitoring fees In the event the fees authorized by the Fund Fund(s) for payment to NLD are insufficient to cover the fees due to NLD for its services provided hereunder, Vertical Capital Asset RJO Investment Management, LLC, the investment adviser to the Fund Fund(s), agrees to pay NLD the remaining balance of any fees due and payable to NLD according to this fee schedule within 15 days of request.

Out-of-Pocket Expenses. The Fund(s) shall pay all reasonable out-of-pocket expenses incurred by NLD in connection with activities performed for the Fund(s) hereunder including, without limitation: · typesetting, printing and distribution of prospectuses and shareholder reports · production, printing, distribution and placement of advertising and sales literature and materials · engagement of designers, free-lxxxx writers lancx xxxters and public relations firms · long-distance telephone lines, services and charges · postage UNDERWRITING AGREEMENT Schedule B Fee Schedule · overnight delivery charges · FINRA and registration fees · marketing expenses · record retention fees · travel, lodging and meals · NSCC charges · Fund platform fees and service fees · website monitoring fees In the event the fees authorized by the Fund for payment to NLD are insufficient to cover the fees due to NLD for its services provided hereunder, Vertical GL Capital Asset ManagementPartners, LLC, the investment adviser to the Fund agrees to pay NLD the remaining balance of any fees due and payable to NLD according to this fee schedule within 15 days of request.

Out-of-Pocket Expenses. The Fund(s) shall pay all reasonable out-of-pocket expenses incurred by NLD in connection with activities performed for the Fund(s) hereunder including, without limitation: · typesetting, printing and distribution of prospectuses PPMs and shareholder reports · production, printing, distribution and placement of advertising and sales literature and materials · engagement of designers, free-lxxxx writers and public relations firms · long-distance telephone lines, services and charges · postage UNDERWRITING DISTRIBUTION AGREEMENT Schedule B Princeton Private Equity Fund Fee Schedule · postage overnight delivery charges · FINRA and registration fees · marketing expenses · record retention fees · travel, lodging and meals · NSCC charges · Fund platform fees and service fees · website monitoring fees In the event the fees authorized by the Fund Fund(s) for payment to NLD are insufficient to cover the fees due to NLD for its services provided hereunder, Vertical Capital Asset ManagementPrinceton Fund Advisors, LLC, the investment adviser to the Fund Fund(s), agrees to pay NLD the remaining balance of any fees due and payable to NLD according to this fee schedule within 15 days of request.

Out-of-Pocket Expenses. The Fund(s) shall pay all reasonable out-of-pocket expenses incurred by NLD in connection with activities performed for the Fund(s) hereunder including, without limitation: · typesetting, printing and distribution of prospectuses and shareholder reports · production, printing, distribution and placement of advertising and sales literature and materials · engagement of designers, free-lxxxx writers lancx xxxters and public relations firms · long-distance telephone lines, services and charges · postage UNDERWRITING AGREEMENT Schedule B Fee Schedule · overnight delivery charges · FINRA and registration fees · marketing expenses · record retention fees · travel, lodging and meals · NSCC charges · Fund platform fees and service fees · website Website monitoring fees In the event the fees authorized by the Fund Fund(s) for payment to NLD are insufficient to cover the fees due to NLD for its services provided hereunder, Vertical Capital Asset ManagementWater Oak Advisors, LLC, the investment adviser to the Fund Fund(s), agrees to pay NLD the remaining balance of any fees due and payable to NLD according to this fee schedule within 15 days of request.

Out-of-Pocket Expenses. The Fund(s) shall pay all reasonable out-of-pocket expenses incurred by NLD in connection with activities performed for the Fund(s) hereunder including, without limitation: · typesetting, printing and distribution of prospectuses and shareholder reports · production, printing, distribution and placement of advertising and sales literature and materials · engagement of designers, free-lxxxx writers lancx xxxters and public relations firms · long-distance telephone lines, services and charges · postage UNDERWRITING AGREEMENT Schedule B B–11 Fee Schedule · overnight delivery charges · FINRA and registration fees · marketing expenses · record retention fees · travel, lodging and meals · NSCC charges · Fund platform fees and service fees · website Website monitoring fees In the event the fees authorized by the Fund Fund(s) for payment to NLD are insufficient to cover the fees due to NLD for its services provided hereunder, Vertical Capital Asset ManagementPrinceton Advisory Group, LLCInc., the investment adviser to the Fund Fund(s), agrees to pay NLD the remaining balance of any fees due and payable to NLD according to this fee schedule within 15 days of request.

Out-of-Pocket Expenses. The Fund(s) shall pay all reasonable out-of-pocket expenses incurred by NLD in connection with activities performed for the Fund(s) hereunder including, without limitation: · typesetting, printing and distribution of prospectuses and shareholder reports · production, printing, distribution and placement of advertising and sales literature and materials · engagement of designers, free-lxxxx writers lance xxxxxrs and public relations firms · long-distance telephone lines, services and charges · postage UNDERWRITING AGREEMENT Schedule B Fee Schedule · overnight delivery charges · FINRA and registration fees · marketing expenses · record retention fees · travel, lodging and meals · NSCC charges · Fund platform fees and service fees · website web-site monitoring fees expenses In the event the fees authorized by the Fund Fund(s) for payment to NLD are insufficient to cover the fees due to NLD for its services provided hereunder, Vertical Capital Asset ManagementBluerock Fund Advisor, LLC, the investment adviser to the Fund Fund(s) agrees to pay NLD the remaining balance of any fees due and payable to NLD according to this fee schedule within 15 days of request.

Out-of-Pocket Expenses. The Fund(s) shall pay all reasonable out-of-pocket expenses incurred by NLD in connection with activities performed for the Fund(s) hereunder including, without limitation: · typesetting, printing and distribution of prospectuses and shareholder reports · production, printing, distribution and placement of advertising and sales literature and materials · engagement of designers, free-lxxxx writers lancx xxxters and public relations firms · long-distance telephone lines, services and charges · postage UNDERWRITING AGREEMENT Schedule B Fee Schedule · overnight delivery charges · FINRA and registration fees · marketing expenses · record retention fees · travel, lodging and meals · NSCC charges · Fund platform fees and service fees · website monitoring fees In the event the fees authorized by the Fund Fund(s) for payment to NLD are insufficient to cover the fees due to NLD for its services provided hereunder, Vertical RJL Capital Asset Management, LLC, the investment adviser to the Fund Fund(s) agrees to pay NLD the remaining balance of any fees due and payable to NLD according to this fee schedule within 15 days of request.