Telescope Partners LLC

Item 5: Fees and Compensation

The fees applicable are set forth in detail in its respective Offering Documents. A brief summary
of such fees is provided below.

Management Fee

The Funds

Telescope generally charges an investment management fee (“Management Fee”) ranging from
1.5% - 2.5% per annum. The Management Fee is or will be charged quarterly in advance. The
Management Fee may be reduced by Cashless Contributions. Specific details are set forth in each
respective Fund’s limited partnership agreement, and/or other agreements governing the terms
and conditions of investments in the Funds.

Generally, the Management Fee is not negotiable. However, Telescope may, in its sole discretion,
waive, reduce or modify the Management Fee at any time.

Other Types of Fees or Expenses

From the management fee, the General Partner shall bear all normal operating expenses incurred
in connection with the management of the Partnership, the General Partner and the
Management Company, except for those expenses borne directly by the Partnership. Such
normal operating expenses to be borne by the General Partner (or its designees) shall include,
without limitation, expenditures on account of salaries, wages and other expenses of employees,
the General Partner or the Management Company, overhead and rentals payable for space used
by the General Partner (or its designees) or the Partnership, office expenses, expenses for clerical
services, bookkeeping services and equipment and fees for consulting services not related to a
particular Portfolio Company (other than those borne by the Partnership) and all normal expenses
incurred in connection with research and analysis of industry sectors in which the Partnership
invests and identifying potential investment opportunities (other than those borne by the
Partnership).

The Partnership shall bear all costs and expenses incurred in the investigation, holding, purchase,
sale or exchange of Securities (whether or not ultimately consummated), including, but not by
way of limitation, private placement fees, finder’s fees, interest on borrowed money, real
property or personal property taxes on investments, including documentary, recording, stamp
and transfer taxes, brokerage fees or commissions, legal fees, expenses incurred in connection
with the investigation, prosecution or defense of any claims by or against the Partnership,
including claims by or against a governmental authority, audit and accounting fees, consulting

fees relating to investments or proposed investments, taxes applicable to the Partnership on
account of its operations, fees incurred in connection with the maintenance of bank or custodian
accounts, and all expenses incurred in connection with the registration of the Partnership’s
Securities under applicable securities laws or regulations. The Partnership shall also bear
expenses incurred by the General Partner in serving as the tax matters partner, the cost of liability
and other premiums for insurance protecting the Partnership, the General Partner, the Managing
Directors, and the Management Company and its employees from liability to third parties, all out-
of-pocket expenses of preparing and distributing reports to Partners, expenses associated with
Partnership communications with Partners, including preparation of annual or other reports to
the Limited Partners, out-of-pocket costs associated with Partnership meetings (including the
Partnership’s annual meeting) or Advisory Committee matters, travel expenses incurred in
investigating, purchasing or holding Securities and in attending to other Partnership business, all
legal and accounting fees relating to the Partnership and its activities, all costs and expenses
arising out of the Partnership’s indemnification obligation pursuant to this Agreement, and all
expenses that are not normal operating expenses.

The Partnership shall bear all organizational and syndication costs, fees, and expenses incurred
by or on behalf of the General Partner in connection with the formation and organization of the
Partnership, the General Partner and related entities, including legal and accounting fees and
expenses incident thereto; provided, however, that, to the extent that such expenses exceed a
cap, which varies, the amount of such excess shall decrease the management fee paid to the
General Partner. Further, in the General Partner’s sole discretion, the Partnership shall, in lieu of
payment of an equal amount of management fee, bear private placement or finder’s fees and
related expenses relating to the organization of the Partnership which are approved by the
General Partner or the Management Company.

If any of the expenses listed above are incurred jointly for the account of more than one Client, such
expenses will be allocated among such Clients in proportion to each Client's net assets or the size
of the investment made by each to which such expense relates, or in such other manner as
Telescope, as applicable, considers fair and equitable.

Neither the Firm nor its employees accept compensation, including sales charges or service fees,
from any person for the sale of securities or other investment products.

Item 7: Types of Clients

Our Clients are the Funds. An investment in a Fund is open to, among others, institutions, pension
plans, endowments, high net-worth individuals, financially sophisticated individuals, and other

sophisticated investors.

The minimum initial investment in a Fund ranges from $0 to $1,000,000, depending on the
particular Fund. In most cases, the General Partners and/ or the Firm, as applicable, may, in its sole
discretion, accept a lower initial investment from time to time.