EFTA Document EFTA01392260

GLDUS128 Patrick Gerschel iCapital Advisors, LLC Form ADV Part 2A management fee up through the end of that calendar quarter. such Investor will generally receive a pro rata share of any management fee it prepaid for any quarter. based on the Investor's date of withdrawal, unless the applicable Fund documents provide otherwise. Notwithstanding the foregoing. iCapital in its sole and absolute discretion may elect to waive or otherwise reduce the management fee attributable to any Investor.