All exposure adjustments on the M4 are done in front of the CdS cell in the lower right-hand corner. There are two things that adjust the amount of light entering the cell: A small ND filter graduated from : 1 1/3 stop to 2 stop, and a metal shade that reduces the light an additional 2/3 stop to compensate for the 85 filter. When 100D is put into the M4, the ND filter is removed but the metal shade is not, metering for 64 with no filter. Inserting the key removes the shade without adding a filter, metering for 100.