Common use of Harvest Share Reserve Clause in Contracts

Harvest Share Reserve. Each Member acknowledges that under NMFS 5 regulations, the Members’ aggregate harvest of the Sector’s ACE may not exceed the Sector’s ACE 6 allocation, as adjusted by transfers of ACE between the Sector and other sectors. Each Member further 7 acknowledges that under NMFS regulations, each Member may be held jointly liable for fines, penalties 8 and forfeitures related to the Sector’s ACE being overharvested. Each Member therefore authorizes the 9 Manager to annually establish a reserve of each Allocated Species in the amount the Manager deems 10 necessary to insure the Sector’s ACE is not over‐harvested (the “Reserve”). The Reserve for each Allocated 11 Species shall be established by assessing the Members’ Harvest Shares for such Allocated Species on a pro 12 rata basis, according to their Harvest Share percentages for each such species. The amount of each 13 Member’s Harvest Share available for harvest or transfer shall be net of the amount assessed for the

Harvest Share Reserve. Each Member acknowledges that under NMFS 5 11 regulations, the Members’ aggregate harvest of the Sector’s ACE may not exceed the Sector’s ACE 6 12 allocation, as adjusted by transfers of ACE between the Sector and other sectors. Each Member further 7 13 acknowledges that under NMFS regulations, each Member may be held jointly liable for fines, penalties 8 14 and forfeitures related to the Sector’s ACE being overharvested. Each Member therefore authorizes the 9 15 Manager to annually establish a reserve of each Allocated Species in the amount the Manager deems 10 16 necessary to insure the Sector’s ACE is not over‐harvested (the “Reserve”). The Reserve for each 17 Allocated 11 Species shall be established by assessing the Members’ Harvest Shares for such Allocated 18 Species on a pro 12 rata basis, according to their Harvest Share percentages for each such species. The amount of each 13 Member’s Harvest Share available for harvest or transfer shall be net of the amount assessed for theThe

Harvest Share Reserve. Each Member acknowledges that under NMFS 5 8 regulations, the Members’ aggregate harvest of the Sector’s ACE may not exceed the Sector’s ACE 6 9 allocation, as adjusted by transfers of ACE between the Sector and other sectors. Each Member further 7 10 acknowledges that under NMFS regulations, each Member may be held jointly liable for fines, penalties 8 11 and forfeitures related to the Sector’s ACE being overharvested. Each Member therefore authorizes the 9 12 Manager to annually establish a reserve of each Allocated Species in the amount the Manager deems 10 13 necessary to insure the Sector’s ACE is not over‐harvested (the “Reserve”). The Reserve for each 14 Allocated 11 Species shall be established by assessing the Members’ Harvest Shares for such Allocated 15 Species on a pro 12 rata basis, according to their Harvest Share percentages for each such species. The 16 amount of each 13 Member’s Harvest Share available for harvest or transfer shall be net of the amount 17 assessed for thethe Reserve. The Reserve shall be managed under a “Deemed Value System” (“DVS”) by 18 the Manager in accordance with the terms and conditions adopted by the Board from time to time. If

Harvest Share Reserve. Each Member acknowledges that under NMFS 5 8 regulations, the Members’ aggregate harvest of the Sector’s ACE may not exceed the Sector’s ACE 6 9 allocation, as adjusted by transfers of ACE between the Sector and other sectors. Each Member further 7 10 acknowledges that under NMFS regulations, each Member may be held jointly liable for fines, penalties 8 11 and forfeitures related to the Sector’s ACE being overharvested. Each Member therefore authorizes the 9 12 Manager to annually establish a reserve of each Allocated Species in the amount the Manager deems 10 13 necessary to insure ensure the Sector’s ACE is not over‐harvested over-harvested (the “Reserve”). The Reserve for each 14 Allocated 11 Species shall be established by assessing the Members’ Harvest Shares for such Allocated 15 Species on a pro 12 rata basis, according to their Harvest Share percentages for each such species. The 16 amount of each 13 Member’s Harvest Share available for harvest or transfer shall be net of the amount 17 assessed for thethe Reserve. The Reserve shall be managed under a “Deemed Value System” (“DVS”) by 18 the Manager in accordance with the terms and conditions adopted by the Board from time to time. If