Eagle's View Capital Management LLC

Item 5: Fees and Compensation

Item 5.A.

The Firm is entitled to receive a management fee as follows, each calculated quarterly and taken in advance:

     •   EVCP: 1% per annum;
     •   EVDOF: 0.75% per annum;
     •   EVDF: 1% per annum;
     •   EVSPOF: 1% per annum;
     •   EVOF: 1% per annum; and
     •   EVJAF: 2% per annum.

The management fees taken for the Funds are a percentage of each Limited Partner’s or Shareholder’s
capital account balance.

Advisory Clients are generally only charged performance fees, with the exception of certain Advisory
Clients for which the Firm charges only management fees equal to 0.75% - 1% per annum. See Item 6 for
further discussion regarding performance fees.

In general, the fees for both the Funds and for Advisory Clients are negotiable.

Item 5.B.

With respect to the Funds, the Firm deducts its management fees quarterly in advance from each Fund.

With respect to Advisory Clients, the Firm bills for performance fees annually, with the exception of certain
Advisory Clients that pay management fees, for which the Firm bills either monthly or quarterly in advance.

Item 5.C.

Eagle’s View uses the management fees described above to pay its own overhead expenses of an ordinary
and recurring nature, such as rent, office supplies, etc. The Funds are responsible for all direct costs of
administering their businesses. These costs include administration fees and expenses, brokerage
commissions and transaction costs (see Item 12 below for a discussion of the Firm’s brokerage practices),
interest on margin and other borrowings, and borrowing charges on securities sold short, custodial fees,
legal, research, accounting and audit fees and expenses, tax preparation fees, governmental fees and taxes,
bookkeeping and other professional fees, telephone expenses, and all other fees as outlined in each of the
Funds’ respective offering memoranda, as applicable.

The Funds are responsible for the majority of the cost of insurance policies that cover the Firm and certain
of its affiliates and personnel, such as Directors and Officers (D&O) and Errors and Omissions (E&O)
insurance, employment practices liability insurance, fiduciary liability insurance, and related coverage
(“Insurance Costs”). Since the Firm also serves as an investment adviser for Advisory Clients, the Funds
will bear Insurance Costs that also benefit other funds and managed accounts that Eagle’s View is involved
with. The Funds will collectively bear eighty percent (80%) of the Insurance Costs. The portion of the
Insurance Costs that is allocated to Funds will be split among all of the Funds collectively on a pro rata
basis approximately based upon the amount of each Fund’s assets under management. The remaining
portion of the Insurance Costs that is not allocated to the Funds will be paid directly by the Firm.

The expenses that the Funds incur will frequently benefit Advisory Clients. For example, Eagle’s View
charges travel and research costs to the Funds for investments that might also be considered for and held
by Advisory Clients. Therefore, expenses incurred by the Funds (including Insurance Costs) will confer
benefits upon Advisory Clients, even though Advisory Clients will not be charged for such expenses.

Item 5.D.

As discussed above in response to Item 5.A., the management fees for the Funds are payable quarterly in
advance. In the event that a Limited Partner or Shareholder withdraws from a Fund before the end of the
billing period after having paid a management fee in advance, the Fund will refund any overpayment at the
time that it remits the withdrawal proceeds. The amount of the refund is determined by calculating the time
period for which overpayment was made and crediting the Limited Partner or Shareholder’s account for the
portion of the management fee paid for such time period.

Certain Advisory Clients pay management fees monthly or quarterly in advance. If the advisory agreement
with these particular clients terminates as of a date other than the conclusion of a particular calendar month
or quarter, the Firm would refund any excess payment by calculating the time period for which overpayment
has been made and refund the client accordingly.

Item 5.E.1 to 5.E.3.

Mr. Berger is a registered representative of a broker-dealer which has marketing arrangements with third
party hedge funds through which he receives compensation for referring investors. The Firm routinely
recommends that Funds or Advisory Clients invest in these hedge funds. Please see the response to Item
10.D below for further information regarding these arrangements.

Item 5.E.4.

Not Applicable. Eagle’s View does not charge commissions or markups in addition to advisory fees.

Item 7: Types of Clients

Eagle’s View provides discretionary investment advice to the Funds and an SMA client which is an advisor
to a life insurance company.

Eagle’s View provides non-discretionary investment advice to Advisory Clients which consist of high-net
worth individuals, trusts, and pooled investment vehicles (other than investment companies).

The Funds generally require minimum investments of $1 million; however, amounts less than the required
minimum are accepted in the Firm’s sole discretion.

Eagle’s View generally requires that Advisory Clients have a minimum capital investment of $10 million;
however, amounts less than the required minimum are accepted in the Firm’s sole discretion.

Instead of an advisory fee, the Firm in certain instances accepts an ownership interest in an entity owned
by an Advisory Client in order for such client to avail itself of a tax or other economic benefit.