How Is Westboro MIC Compensated For Administering The Fund?

Administrator

Westboro Management Ltd. (“WML”) is the general partner of Westboro LP, of which WMIC is the majority limited partner. As general partner, WML receives distributions from Westboro LP, equal to 1/12th of 2.00% of the total consolidated assets of Westboro LP, as recorded in the month end unaudited, internally prepared management consolidated financial statements of Westboro LP. The special limited partner of Westboro MIC can earn a distribution of up to 1.00% of the consolidated assets of Westboro LP as confirmed by the Year End Audited Statements if the investors have received a return equal to the Bank of Montreal 5 year GIC rate, plus 4%. Westboro MIC is responsible for interest, legal, accounting and investor relation costs.