Common use of Annual Subordinated Performance Fee Clause in Contracts

Annual Subordinated Performance Fee. The Company shall pay the Advisor an Annual Subordinated Performance Fee calculated on the basis of the Company’s annual return to holders of Common Shares, payable annually in arrears in any year in which holders of Common Shares receive payment of an eight percent (8%) annual cumulative, pre-tax, non-compounded return on their respective pro rata shares of Invested Capital, in an amount equal to fifteen percent (15%) of the amount in excess of such eight percent (8%) annual return; provided, however, that the Annual Subordinated Performance Fee shall not exceed ten percent (10%) of the aggregate return for such year; and provided further, however, that the Annual Subordinated Performance Fee will not be paid unless holders of Common Shares receive a return of their respective pro rata shares of Invested Capital. The Annual Subordinated Performance Fee shall be payable only from Net Sales Proceeds.

Annual Subordinated Performance Fee. The Company shall pay the Advisor an Annual Subordinated Performance Fee calculated on the basis of the Company’s annual return to holders of Common Shares, payable annually in arrears in any year in which holders of Common Shares receive payment of an eight a six percent (86%) annual cumulative, pre-tax, non-compounded return on their respective pro rata shares of Invested CapitalNet Investments, in an amount equal to fifteen percent (15%) of the amount in excess of such eight six percent (86%) annual per annum return; provided, however, that the Annual Subordinated Performance Fee shall not exceed ten percent (10%) of the aggregate return for such year; and provided provided, further, however, that the Annual Subordinated Performance Fee will not be paid unless holders of Common Shares receive a return of their respective pro rata shares of Invested CapitalNet Investments. The Annual Subordinated Performance Fee shall be payable only from Net Sales Proceedsrealized appreciation in Assets upon their Sale or refinancing.

Annual Subordinated Performance Fee. The Company shall pay the Advisor an Annual Subordinated Performance Fee calculated on the basis of the Company’s annual return to holders of Common Shares, payable annually in arrears in any year in which holders of Common Shares receive payment of an eight percent (8%) annual cumulative, pre-tax, non-compounded return on their respective pro rata shares of Invested CapitalNet Investments, in an amount equal to fifteen percent (15%) of the amount in excess of such eight percent (8%) annual return; provided, however, that the Annual Subordinated Performance Fee shall not exceed ten percent (10%) of the aggregate return for such year; and provided provided, further, however, that the Annual Subordinated Performance Fee will not be paid unless holders of Common Shares receive a return of their respective pro rata shares of Invested CapitalNet Investments. The Annual Subordinated Performance Fee shall be payable only from Net Sales Proceeds.

Annual Subordinated Performance Fee. The Company shall pay the Advisor an Annual Subordinated Performance Fee calculated on the basis of the Company’s annual return to holders of Common Shares, payable annually in arrears in any year in which holders of Common Shares receive payment of an eight percent (8%) annual cumulative, pre-tax, non-compounded return on their respective pro rata shares of Invested CapitalNet Investments, in an amount equal to fifteen percent (15%) of the amount in excess of such eight percent (8%) annual per annum return; provided, however, that the Annual Subordinated Performance Fee shall not exceed ten percent (10%) of the aggregate return for such year; and provided provided, further, however, that the Annual Subordinated Performance Fee will not be paid unless holders of Common Shares receive a return of their respective pro rata shares of Invested CapitalNet Investments. The Annual Subordinated Performance Fee shall be payable only from Net Sales Proceeds.