Tenor Capital Management Company LP

Item 5 – Fees and Compensation
The fees and compensation applicable to each Fund are set forth in detail in each Fund’s respective
offering documents. A brief summary of those fees is provided below.

Tenor Opportunity Funds

    (i) Management Fee.

Generally, the Tenor Opportunity Funds pay Tenor Capital a fee for investment management
services (the “Management Fee”) for each fiscal quarter at an annual rate ranging from 1.25% to
1.5% of the capital account balance or net asset value (“NAV”) of the shares, as applicable, of
certain investors (depending on certain factors, including, but not limited to, the amount of
investment). The Management Fee is calculated and paid in advance, and will generally be prorated
for any period that is less than a full fiscal quarter.

    (ii) Incentive.

Generally, at the end of each fiscal year of the Tenor Opportunity Funds, Associates is entitled to
an incentive allocation, with respect to Tenor Onshore, and Tenor Capital is entitled to an incentive
fee, with respect to Tenor Offshore (for each, the “Incentive Fee”) in an amount generally ranging
between 17% to 20% (depending on certain factors including, but not limited to, investment date
and amount of investment) of the net capital appreciation allocated to an investor for such fiscal
year.

Tenor Legacy Funds

A. Parsoon Funds

    (i) Management Fee.

The governing documents of the Parsoon Funds provide for a Management Fee payable to Tenor
Capital at an annual rate of up to 1.25% of the NAV of the shares of certain investors. This
Management Fee is negotiable on a case-by-case basis, at the sole discretion of Tenor Capital. As
of the date of this filing, current investors in the Parsoon Funds are not subject to a Management
Fee.

    (ii) Incentive.

Generally, net proceeds of the investments of the Parsoon Funds will be distributed to the investors
upon realization and Tenor Capital will be paid a carried interest percentage of up to 25%.

B. TSSF

    (i) Management Fee.

The governing documents of TSSF provide for a Management Fee payable to Tenor Capital at an
annual rate of up to 2% of the sum of (i) the NAV of an investor’s capital account and (ii) the
respective values of the illiquid TSSF investments. This Management Fee is negotiable on a case-
by-case basis, at the sole discretion of Tenor Capital. As of the date of this filing, current investors
in TSSF are not subject to a Management Fee.

    (ii) Incentive.

Generally, net proceeds of the investments of TSSF will be distributed to the investors upon
realization and Tenor Capital will be paid a carried interest percentage of up to 25%.

A. TICAF A Fund

    (i) Management Fee.

    (ii) The TICAF A Funds are currently subject to a Management Fee for each fiscal quarter at an
         annual rate of 0.5%. The Management Fee is calculated and paid in advance, and will be
         generally prorated for any period that is less than a full fiscal quarter. Carried Interest.

Generally, net proceeds of the investments of the TICAF A Funds will be distributed to the investors
upon realization and Associates will be paid a carried interest percentage of 17.5%.

Tenor Capital and/or Associates (“the Tenor Advisors”), as applicable, have invested, and may in
the future, invest, in one or more of the Funds but will not be charged a management fee or incentive
fee/allocation (and will not be subject to any “carried interest”) by the applicable Funds in which
they invest.

Additional Fees and Expenses

The expenses attributable to each Fund are set forth in detail in each Fund’s respective offering
documents. A brief summary of those expenses is provided below.

    A. Tenor Opportunity Funds

The Tenor Opportunity Funds bear their own expenses in connection with their operation, including,
without limitation, investment related expenses such as brokerage fees, expenses and commissions,
expenses related to research, due diligence and monitoring of actual and prospective investments
(whether or not consummated) and the consummation of investments, travel expenses, interest
expenses and fees on margin accounts and other indebtedness, borrowing charges on securities sold
short, fees in connection with the administration of the Tenor Opportunity Funds, custodial fees,

bank service fees, withholding and transfer fees, taxes (including, third-party audit and tax
preparation expenses), clearing and settlement charges, professional fees (including, without
limitation, expenses of consultants and experts) relating to investments, expenses related to the
sourcing, purchase, sale or transmittal of investments, costs of providing news, data and quotation
services, costs of computer equipment and software, including, without limitation, costs of software
licensing, implementation, data management and recovery services and custom development used
to research investments, evaluate and manage risk, facilitate valuations, facilitate accounting
functions, facilitate compliance with the rules of any self-regulatory organization or applicable law
(including reporting obligations) in connection with the activities of the Tenor Opportunity Funds
or any trading vehicle, facilitate and manage the order execution of financial instruments or
otherwise manage the Tenor Opportunity Funds or any trading vehicle, such as Bloomberg
terminals, risk management systems, accounting systems, portfolio management systems and order
management systems, costs of preparing and distributing reporting positions to risk measurement
and aggregation reporting services (in each case except to the extent provided through soft dollars
generated by the Tenor Opportunity Funds) and notices, legal, accounting, audit and tax expenses,
expenses for tax services, fees and expenses (including, without limitation, director registration
fees) of the Tenor Opportunity Funds’ directors and officers (including any anti-money laundering
...

Item 7 – Types of Clients
Each of the Tenor Advisors, as applicable, provides advice to private pooled investment vehicles
offered only to qualified investors on a private placement basis. The investment vehicles are
structured as limited partnerships or other types of non-U.S. entities. Interests in these investment
vehicles are offered and sold exclusively to investors satisfying the applicable eligibility and
suitability requirements, either in private transactions within the United States or in offshore
transactions. Typically, these investors are high-net-worth individuals, institutions and other
entities. Any investment minimums for investors are disclosed in the applicable governing
documents.