Double Eagle Capital Management LP

ITEM 5: FEES AND COMPENSATION

A. Advisory Fees.
Investors or prospective investors should carefully review the governing documents for each Fund for more
complete information about the fees and compensation payable to DEC.

Asset-Based Compensation
DEC charges each Fund an investment management fee based on the value of the assets under management.
The fees for Funds vary by class of investment in the Funds. Investment management fees are calculated
each quarter in advance based on the total market value of the assets in the Fund (including net unrealized
appreciation or depreciation of investments and cash, cash equivalents and accrued interest) on the first day
of the quarter. See chart below for the applicable fee.

Performance-Based Compensation
DEC also receives a performance-based fee or a performance allocation, based on a share of the net capital
appreciation of the assets of each Fund. Performance compensation is calculated at the end of the year or
upon a withdrawal or redemption. In the case of a mid-year withdrawal or redemption, the performance
allocation would crystallize and be charged at the time of the withdrawal or redemption. This compensation
ranges from 10 - 20%. Under certain circumstances, receipt of performance-based compensation may be
subject to an annual hurdle rate.

The fees charged by DEC are not negotiable but may be waived in DEC’s sole discretion.

B. Payment of Fees.
Management fees are calculated on a quarterly basis, in advance; however, a pro-rata portion of the
quarterly fee is deducted each month during the quarter. The performance allocation is deducted on an
annual basis. The Funds’ administrators deduct both the management fee and performance allocation from
investor accounts.

C. Prepayment of Fees.
DEC is authorized, under the official governing documents of each Fund, to charge and deduct management
fees, in advance, directly from the assets of each Fund. For all of the Funds, it is typically not possible to
be able to redeem prior to the end of a quarter because of the redemption terms of each Fund. For all of the
Funds, management fees are calculated and become payable at the beginning of each quarter. Management
fees are expensed, or deducted from investor accounts, on a monthly basis. Management fees are
appropriately adjusted for any contributions and redemptions during the quarter.

                                                                                           Part 2A of Form ADV:
                                                                             Double Eagle Capital Management LP

D. Other Fees and Expenses.
In addition to paying management fees and performance based fees or allocations, the Funds bear all costs
and expenses directly related to their investment programs, including fees and expenses of the
administrator, insurance costs, research costs, due diligence, proxies, underwriting and private placements,
brokerage commissions, interest on debt balances or borrowings, custody fees, travel fees and expenses
related to the Funds’ offerings and any withholding or transfer taxes imposed on the Funds. The Funds also
bear all out-of-pocket costs of their operation and administration, including (i) accounting, audit and legal
expenses (including those incurred for the Funds or the DEC to comply with applicable law, rule or
regulation), (ii) costs of any litigation or investigation involving the Funds’ activities, (iii) the costs, fees
and expenses of any appraisers, accountants or other experts engaged by DEC as well as other expenses
directly related to the Funds’ investments and (iv) costs associated with reporting and providing information
to existing and prospective investors. The Funds also bear the expenses of their organization and the
offering of limited partner interests or shares (including legal and accounting fees, printing costs, travel,
“blue sky” filing fees and expenses and out-of-pocket expenses). Investors in each Fund will bear their pro
rata share of that Fund’s operating and other expenses. However, DEC may, in its sole discretion, choose
to absorb any of these expenses incurred on behalf of a Fund. See “Item 12 Brokerage Practices” for
additional information.

As a fund-of-funds, and in addition to the foregoing, each of our Clients are also directly or indirectly
subject to an additional layer of expenses, fees and performance allocations at the level of the underlying
funds in which such Client invests.

Neither DEC nor any of its supervised persons accepts compensation (e.g., brokerage commissions) for the
sale of securities or other investment products. Please refer to Item 12 of this brochure for a discussion of
DEC’s brokerage practices.

                                                                  Annual           Performance                    High
                                                                                                      Hurdle
Client                                                          Management            Based                       Water
                                                                                                       Rate
                                                                    Fee             Allocation                    Mark
Domestic Ace Fund – Series A                                       1.5%
Offshore Ace Fund – Class A                                        1.5%
Domestic Ace Fund – Series B                                       1.0%                 10%             7%          Yes
Offshore Ace Fund – Class B                                        1.0%                 10%             7%          Yes
Domestic Ace Fund – Opportunity Fund Series
                                                                                        20%                         Yes
(Legacy Class) (1)
Offshore Ace Fund – Opportunity Fund Series
...

ITEM 7: TYPES OF CLIENTS

Double Eagle’s clients consist of privately offered pooled investment vehicles (“Funds” or “Clients”) which
are exempt from registration under the Investment Company Act of 1940, as amended, pursuant to Section
3(c)(1) or Section 3(c)(7) of that Act. Double Eagle may in the future also provide advisory services with
respect to securities for certain separately managed accounts or other clients.

Investment advisory services are provided directly to the Funds, and not individually to investors. The
investors in each Fund may include institutional investors, high net worth individuals, endowments and
pension and profit sharing plans

Any initial and additional subscription minimums are disclosed in the offering materials of each Fund, as
applicable. In certain circumstances, minimum investment amounts may be waived.