Common use of Manager’s Fees or Other Compensation Clause in Contracts

Manager’s Fees or Other Compensation. 5.1 Expense Reimbursement In addition to the Cash Distributions described in Article 4, the Manager, its members or their Affiliates may earn additional compensation in the form of Fees, commissions, reimbursements, interest or other compensation as further described in the Table in 5.2 below. Such compensation will be paid as an expense of the Company prior to determining Distributable Cash. Manager’s Fees are authorized in Article 5.2 of this Agreement. The Manager reserves the right to defer collection of any compensation from the time it is earned until sufficient cash is available, without forfeiting any right to collect, although the Manager may earn interest on any deferred compensation at the discretion of the Manager. The maximum amount of compensation the Manager may receive cannot be determined at this time. Cardone Equity Fund V, LLC 10 Operating Agreement 5.2 Fees Paid to Manager and/or Third Parties The Manager and/or third parties may earn Fees for services they provide on behalf of the Company as further described below. All Fees will be paid as an expense of the Company prior to determining Distributable Cash (as described in Article 4 above). Acquisition Fee Fees charged to the Company as Properties are acquired 1.0% of the purchase price of the individual property. These fees are difficult to determine at this time. Disposition Fee Fees charged to the Company as Properties are disposed of 1.0% of the sales price of the individual property. These fees are difficult to determine at this time. Asset Management Fee Fees charged to the Company for management of its investments 1.0% of the total amount of the Capital Account Balances of all the Class A Members, annualized, paid monthly. The total amount of fees that the Manager may receive cannot be determined at this time. Carried Interest Class B Interest 35% profits interest and 35% of Distributable Cash. Cardone Equity Fund V, LLC 11 Operating Agreement

Manager’s Fees or Other Compensation. 5.1 Expense Reimbursement In addition to the Cash Distributions described in Article 4, the Manager, its members or their Affiliates may earn additional compensation in the form of Fees, commissions, reimbursements, interest or other compensation as further described in the Table in 5.2 below. Such compensation will be paid as an expense of the Company prior to determining Distributable Cash. Manager’s Fees are authorized in Article 5.2 of this Agreement. The Manager reserves the right to defer collection of any compensation from the time it is earned until sufficient cash is available, without forfeiting any right to collect, although the Manager may earn interest on any deferred compensation at the discretion of the Manager. The maximum amount of compensation the Manager may receive cannot be determined at this time. Cardone Equity Fund V, LLC 10 Operating Agreement. 5.2 Fees Paid to Manager and/or Third Parties The Manager and/or third parties may earn Fees for services they provide on behalf of the Company as further described below. All Fees will be paid as an expense of the Company prior to determining Distributable Cash (as described in Article 4 above). Acquisition Fee Fees charged to the Company as Properties are acquired 1.0% of the purchase price of the individual property. These fees are difficult to determine at this time. Disposition Fee Fees charged to the Company as Properties are disposed of 1.0% of the sales price of the individual property. These fees are difficult to determine at this time. Asset Management Fee Fees charged to the Company for management of its investments 1.0During the first three (3) years, the Manager or its designated affiliate(s) will earn an asset management fee equal to 1% of the total amount aggregate capital commitments. Thereafter, the Manager or its designated affiliate(s) will earn an asset management fee of 1% of the total Capital Account Balances Contributions (less the allocable portion of all Capital Contributions allocated to any Fund Asset subject to a Capital Transaction (from a disposition of a Property only)) until such time as the Class A MembersFund is liquidated. For the avoidance of doubt, annualized, paid monthlythe first day of the month following the day on which a Capital Transaction (from a disposition of Property only) occurs Management Fee will be calculated based on the total Capital Contributions less the allocable portion of capital attributable to the Capital Transaction (from a disposition of Property only). The total amount Asset Management Fee shall be paid no more frequently than monthly, at the sole discretion of fees the Manager. It is anticipated that the Manager may receive cannot these costs will be determined at this timepaid from cash generated from operations. Carried Interest Class B Interest 35% profits interest and 35% of Distributable Cash. Cardone Equity Fund V, LLC 11 Operating Agreement.

Manager’s Fees or Other Compensation. 5.1 Expense Reimbursement In addition to the Cash Distributions described in Article 4, the Manager, its members or their Affiliates may earn additional compensation in the form of Fees, commissions, reimbursements, interest or other compensation as further described in the Table in 5.2 below. Such compensation will be paid as an expense of the Company prior to determining Distributable Cash. Manager’s Fees are authorized in Article 5.2 of this Agreement. The Manager reserves the right to defer collection of any compensation from the time it is earned until sufficient cash is available, without forfeiting any right to collect, although the Manager may earn interest on any deferred compensation at the discretion of the Manager. The maximum amount of compensation the Manager may receive cannot be determined at this time. Cardone Equity Fund VVI, LLC 10 Operating Agreement 5.2 Fees Paid to Manager and/or Third Parties The Manager and/or third parties may earn Fees for services they provide on behalf of the Company as further described below. All Fees will be paid as an expense of the Company prior to determining Distributable Cash (as described in Article 4 above). Acquisition Fee Fees charged to the Company as Properties are acquired 1.0% of the purchase price of the individual property. These fees are difficult to determine at this time. Disposition Fee Fees charged to the Company as Properties are disposed of 1.0% of the sales price of the individual property. These fees are difficult to determine at this time. Asset Management Fee Fees charged to the Company for management of its investments 1.0During the first three (3) years, the Manager or its designated affiliate(s) will earn an asset management fee equal to 1% of the total amount aggregate capital commitments. Thereafter, the Manager or its designated affiliate(s) will earn an asset management fee of 1% of the total Capital Account Balances Contributions (less the allocable portion of all Capital Contributions allocated to any Fund Asset subject to a Capital Transaction (from a disposition of a Property only)) until such time as the Class A MembersFund is liquidated. For the avoidance of doubt, annualized, paid monthlythe first day of the month following the day on which a Capital Transaction (from a disposition of Property only) occurs Management Fee will be calculated based on the total Capital Contributions less the allocable portion of capital attributable to the Capital Transaction (from a disposition of Property only). The total amount Asset Management Fee shall be paid no more frequently than monthly, at the sole discretion of fees the Manager. It is anticipated that the Manager may receive cannot these costs will be determined at this timepaid from cash generated from operations. Carried Interest Class B Interest 35% profits interest and 35% of Distributable Cash. Cardone Equity Fund VVI, LLC 11 Operating Agreement

Manager’s Fees or Other Compensation. 5.1 Expense Reimbursement In addition to the Cash Distributions described in Article 4, the Manager, its members or their Affiliates may earn additional compensation in the form of Fees, commissions, reimbursements, interest or other compensation as further described in the Table in 5.2 below. Such compensation will be paid as an expense of the Company prior to determining Distributable Cash. Manager’s Fees are authorized in Article 5.2 of this Agreement. The Manager reserves the right to defer collection of any compensation from the time it is earned until sufficient cash is available, without forfeiting any right to collect, although the Manager may earn interest on any deferred compensation at the discretion of the Manager. The maximum amount of compensation the Manager may receive cannot be determined at this time. Cardone Equity Fund VVI, LLC 10 Operating Agreement 5.2 Fees Paid to Manager and/or Third Parties The Manager and/or third parties may earn Fees for services they provide on behalf of the Company as further described below. All Fees will be paid as an expense of the Company prior to determining Distributable Cash (as described in Article 4 above). Phase of Operation Basis for Fee Amount of Fee Acquisition Fee Fees charged to the Company as Properties are acquired 1.0% of the purchase price of the individual property. These fees are difficult to determine at this time. Disposition Fee Fees charged to the Company as Properties are disposed of 1.0% of the sales price of the individual property. These fees are difficult to determine at this time. Asset Management Fee Fees charged to the Company for management of its investments 1.0During the first three (3) years, the Manager or its designated affiliate(s) will earn an asset management fee equal to 1% of the total amount aggregate capital commitments. Thereafter, the Manager or its designated affiliate(s) will earn an asset management fee of 1% of the total Capital Account Balances Contributions (less the allocable portion of all Capital Contributions allocated to any Fund Asset subject to a Capital Transaction (from a disposition of a Property only)) until such time as the Class A MembersFund is liquidated. For the avoidance of doubt, annualized, paid monthlythe first day of the month following the day on which a Capital Transaction (from a disposition of Property only) occurs Management Fee will be calculated based on the total Capital Contributions less the allocable portion of capital attributable to the Capital Transaction (from a disposition of Property only). The total amount Asset Management Fee shall be paid no more frequently than monthly, at the sole discretion of fees the Manager. It is anticipated that the Manager may receive cannot these costs will be determined at this timepaid from cash generated from operations. Carried Interest Class B Interest 35% profits interest and 35% of Distributable Cash. Cardone Equity Fund VVI, LLC 11 Operating Agreement

Manager’s Fees or Other Compensation. 5.1 Expense Reimbursement In addition to the Cash Distributions described in Article 4, the Manager, its members or their Affiliates may earn additional compensation in the form of Fees, commissions, reimbursements, interest or other compensation as further described in the Table in 5.2 below. Such compensation will be paid as an expense of the Company prior to determining Distributable Cash. Manager’s Fees are authorized in Article 5.2 of this Agreement. The Manager reserves the right to defer collection of any compensation from the time it is earned until sufficient cash is available, without forfeiting any right to collect, although the Manager may earn interest on any deferred compensation at the discretion of the Manager. The maximum amount of compensation the Manager may receive cannot be determined at this time. Cardone Equity Fund V, LLC 10 Operating Agreement 5.2 Fees Paid to Manager and/or Third Parties The Manager and/or third parties may earn Fees for services they provide on behalf of the Company as further described below. All Fees will be paid as an expense of the Company prior to determining Distributable Cash (as described in Article 4 above). Phase of Operation Basis for Fee Amount of Fee Acquisition Fee Fees charged to the Company as Properties are acquired 1.0% of the purchase price of the individual property. These fees are difficult to determine at this time. Disposition Fee Fees charged to the Company as Properties are disposed of 1.0% of the sales price of the individual property. These fees are difficult to determine at this time. Asset Management Fee Fees charged to the Company for management of its investments 1.0% of the total amount of the Capital Account Balances of all the Class A Members, annualized, paid monthly. The total amount of fees that the Manager may receive cannot be determined at this time. Carried Interest Class B Interest 35% profits interest and 35% of Distributable Cash. Cardone Equity Fund V, LLC 11 Operating Agreement