Majestic Capital Management LLC

Item 5. Fees and Compensation

      MCM charges the Domestic Funds a management fee (payable quarterly) in an amount
      equal to 1.0% per annum. In addition MCM charges Majesty I, LP and Majesty II-QP,
      LP an expense fee (payable quarterly) in an amount equal to 0.4% per annum.

      MCM charges the Offshore Fund a management fee (payable quarterly) in an amount
      equal to 1.0% per annum. In addition MCM charges the Offshore Fund an expense fee in
      an amount equal to 0.4% per annum. The Offshore Fund is presently investing all of its
      assets in the two Domestic Funds. For this reason, MCM waives its management fee and
      expense fee at the Offshore Fund level so that investors are not double charged for
      management or expense fees.

      All fees are deducted from an investor's Investment Fund account and credited to MCM.
      The management and expense fees are paid at the beginning of each quarter and are
      calculated based on the net assets of the Investment Fund as of the first day of such
      quarter. The management and expense fees are deducted in determining the net profit or
      net loss of the Investment Fund. Once charged, there is no refund of management and
      expense fees paid to MCM by an investor. If additional contributions are made to an
      Investment Fund during the quarter, the management and expense fees are prorated and
      charged at the time of such contribution. MCM may waive or reduce its management and
      expense fees for certain investors in the Investment Funds, in its sole discretion.

      The quarterly management fees are payable directly to MCM. The quarterly expense fees
      received by MCM are in turn paid to The Majestic Group, LLC (“TMG”), which is
      owned and controlled by two of MCM's owners and managers (Anthony Cimmarrusti
      and Bryce Gray.) See Item 10, entitled "Other Financial Industry Activities and
      Affiliations." Management and expense fees are described in greater detail in each
      Investment Fund's offering documents.

Item 7. Types of Clients

       Although the Adviser has authority to accept clients other than the Investment Funds,
       presently MCM’s only clients are the Investment Funds. The Investment Funds have a
       broad underlying client base, including high net worth individuals, banks, trusts,
       charitable organizations and other business entities. Each Investment Fund's offering
       documents details investor eligibility requirements and minimum investment amounts. If
       the Adviser later accepts clients other than the Investment Funds, it may elect to impose
       minimum investment requirements or other eligibility requirements.