MACD Advisors LLC

ITEM 5: FEES AND COMPENSATION

A.     Advisory Services and Fees

       1. Ridgeleigh
        Written investment advisory agreements govern the terms of compensation and the manner
in which Ridgeleigh charges fees to each of its Clients. The fees Ridgeleigh charges for advisory
services may be negotiable depending on the circumstances of the Client’s account and the service
levels Ridgeleigh provides to the Client. Ridgeleigh generally bills its fees on a monthly, quarterly
and/or annual basis. Ridgeleigh’s fees are generally payable in arrears. Clients are generally
invoiced for the payment of such fees.

       Each Client account generally will also be responsible for its own extraordinary expenses
(such as, to the extent applicable, litigation expenses and indemnification expenses).

        Ridgeleigh does not receive brokerage commission or other compensation attributable to
the sale of securities or other investment products.

        For a discussion of the factors that we consider in recommending broker-dealers for client
transactions and determining the reasonableness of commissions and compensation for such
broker-dealers, see “Item 12 Brokerage Practices − Selection of Broker-Dealers and
Reasonableness of Compensation.”

       2. Relying Adviser

        The Relying Adviser receives an annual fee in the form of an incentive allocation from the
special limited partner of the Fund. The incentive allocation is generally equal to a specified
percentage multiplied by the excess, if any, of (a) the net capital appreciation allocated to the
special limited partner over (b) the net capital depreciation allocated to the special limited partner.

        In addition to the Relying Adviser’s incentive allocation, the Relying Adviser has the
discretion to charge the capital account of each special limited partner an amount, payable in
advance of each fiscal quarter of the Fund, of up to a specified percentage of the balance of each
such capital account, as of the first day of the relevant fiscal quarter. The purpose of that
discretionary charge is to establish reasonable reserves for certain expenses of the Relying Adviser
that are reasonably anticipated to be incurred for such fiscal quarter. Examples of those expenses
include, without limitation, ordinary overhead expenses, such as rent, furniture, fixtures,
equipment, research, office supplies, computer hardware, clerical expenses, and all salaries,
bonuses, and benefits paid to, or on behalf of, analytical and support personnel.

B.     Payment of Fees

        Each Client (and Fund investor) presently qualifies as a “qualified purchaser” as defined
in the Investment Company Act of 1940, as amended (the “Investment Company Act”).

       Pursuant to the terms of the Client’s investment advisory agreement, if the investment
advisory relationship is terminated (or funds are withdrawn) as of any date other than the last

business day of the applicable payment period, Ridgeleigh typically charges a prorated
management fee and/or other specified fees based on the ratio that the number of days for which
investment advisory services were rendered bears to the total number of days in that payment
period, and Ridgeleigh returns any unearned fees to the Client. In the event that the investment
advisory relationship is terminated (or funds are withdrawn) other than at the end of a performance
fee calculation period, such termination (or withdrawal) date shall typically be treated as the end
of a performance fee calculation period, and, if earned, Ridgeleigh will charge such Client a
performance fee in connection with such Client’s account, as applicable.

        The Relying Adviser generally deducts incentive allocations and charges for expense reserves
directly from the relevant capital accounts of the Fund.

ITEM 7: TYPES OF CLIENTS

      Ridgeleigh currently provides non-discretionary investment advisory services to Managed
Accounts, and the Relying Adviser provides investment management and advisory services to the
Fund. Interests in Managed Accounts are offered to financially sophisticated institutional
investors, including charitable organizations and comingled investment vehicles. Interests in the
Fund are offered to financially sophisticated individual and institutional investors.

       Any applicable initial minimum investment of Managed Accounts is subject to negotiation.
Such minimum investment amounts and minimum investor criteria are set forth in the applicable
investment advisory agreement for each Managed Account.

        Minimum investment amounts in the Fund and criteria for Fund investors are set forth in
the offering documents of the Fund. Investors must generally make minimum initial investments
ranging from $500,000.00 to $5,000,000.00, and any additional investments must also be made
according to established minimums. Each investor must be an “accredited investor,” as defined in
Rule 501(a) of Regulation D, promulgated pursuant to Section 4(2) of the Securities Act of 1933,
as amended, and a “qualified purchaser,” as defined in Section 2(a)(51)(A) of the Investment
Company Act of 1940, as amended.

       We may, in our sole discretion, waive any of the minimum investment amount
requirements.