Consultants may also enter into contracts with unaffiliated managers to invest all or part of your assets as a separate account. All of these agreements bear their own expenses, which are transferred to your account. They should understand the magnitude and structure of these expenses and consider whether the consultant`s fees are properly offset by the fees paid to the manager of the pooled vehicle or a separate account. You should also be familiar with the care the consultant takes with unrelated managers (in order to avoid Madoff`s situation). This Investment Management Agreement (the “Agreement”), entered into on this day of the year 2019 (the “Effective Date”), is from and between (the Client) and Panthera Capital LLC (the “Consultant”).