Common use of Manager’s Remuneration Clause in Contracts

Manager’s Remuneration. (a) The Manager’s annual remuneration for the performance of its duties hereunder shall be fifteen per cent (15%) of the total annual Management Expenses (excluding (i) the Manager’s remuneration and (ii) expenditure of a capital nature or expenditure drawn or to be drawn out of the Special Fund, in this Clause, ("capital expenditure"), PROVIDED THAT by a resolution of Owners passed at a meeting of the Owners convened under this Deed, any capital expenditure may be included for calculating the Manager’s remuneration at the aforesaid percentage or at such lower rate as considered appropriate by the Owners) reasonably and necessarily incurred for the proper and efficient management of the Land and the Building. (b) The Manager shall be entitled to charge and be paid all disbursements and out-of-pocket expenses necessarily and reasonably incurred in the course of carrying out its duties hereunder. The Manager’s remuneration shall be the net remuneration of the Manager for its services as Manager and shall not include the costs, expenses, salary and fees for any staff, facilities, accountancy services or other professional supervision and all disbursements and out-of-pocket expenses necessarily and reasonably incurred in the course of carrying its duties hereunder which said costs and expenses shall form part of the Management Expenses and shall be a direct charge upon the Management Expenses. (c) The Owners shall pay to the Manager the Manager’s annual remuneration hereunder in advance on the first day (or such other day as the Manager may deem appropriate) of each calendar month by twelve (12) equal monthly instalments each such payment to be in the sum of one- twelfth (1/12) of the annual remuneration of the Manager to be determined as aforesaid payable by the Owners according to the annual management budget or the revised annual management budget for the year in question to be prepared as provided in Clauses 5.1 to 5.5 hereof and any adjustment payment that needs to be made to bring the amount paid to the Manager by way of Manager’s remuneration for the year in question to the correct amount for such year will be made within twenty one (21) days from the completion of the auditing of the management accounts for such year as provided in Clause 6.3 hereof. (d) No variation of the percentage referred to in Clause 4.4(a) above may be made except with approval by a resolution of Owners at the meeting of Owners convened in accordance with the provisions of this Deed for the purpose of reviewing the same. (e) Upon any review of the Manager’s remuneration in accordance with Clause 4.4(d) above, if the Manager does not agree to any resolution passed at the meeting of the Owners in respect of such review, then the Manager, if it so desires, shall have the right to resign by giving notice of termination in accordance with Clause 4.1(b)(i) above.

Manager’s Remuneration. (a) The Manager’s annual remuneration for the performance of its duties hereunder shall be fifteen ten per cent (1510%) of the total annual Management Expenses (excluding (i) the Manager’s remuneration and (ii) expenditure of a capital nature or expenditure drawn or to be drawn out of the Special Fund, in this Clause, ("capital expenditure"), PROVIDED THAT by a resolution of Owners passed at a meeting of the Owners convened under this Deed, any capital expenditure may be included for calculating the Manager’s remuneration at the aforesaid percentage or at such lower rate as considered appropriate by the Owners) reasonably and necessarily incurred for the proper and efficient management of the Land and the Building. (b) The Manager shall be entitled to charge and be paid all disbursements and out-of-pocket expenses necessarily and reasonably incurred in the course of carrying out its duties hereunder. The Manager’s remuneration shall be the net remuneration of the Manager for its services as Manager and shall not include the costs, expenses, salary and fees for any staff, facilities, accountancy services or other professional supervision and all disbursements and out-of-pocket expenses necessarily and reasonably incurred in the course of carrying its duties hereunder which said costs and expenses shall form part of the Management Expenses and shall be a direct charge upon the Management Expenses. (c) The Owners shall pay to the Manager the Manager’s annual remuneration hereunder in advance on the first day (or such other day as the Manager may deem appropriate) of each calendar month by twelve (12) equal monthly instalments each such payment to be in the sum of one- twelfth (1/12) of the annual remuneration of the Manager to be determined as aforesaid payable by the Owners according to the annual management budget or the revised annual management budget for the year in question to be prepared as provided in Clauses 5.1 to 5.5 hereof and any adjustment payment that needs to be made to bring the amount paid to the Manager by way of Manager’s remuneration for the year in question to the correct amount for such year will be made within twenty one (21) days from the completion of the auditing of the management accounts for such year as provided in Clause 6.3 hereof. (d) No variation of the percentage referred to in Clause 4.4(a) above may be made except with approval by a resolution of Owners at the meeting of Owners convened in accordance with the provisions of this Deed for the purpose of reviewing the same. (e) Upon any review of the Manager’s remuneration in accordance with Clause 4.4(d) above, if the Manager does not agree to any resolution passed at the meeting of the Owners in respect of such review, then the Manager, if it so desires, shall have the right to resign by giving notice of termination in accordance with Clause 4.1(b)(i) above.

Manager’s Remuneration. (a) The Manager’s 's annual remuneration for the performance of its duties hereunder shall be fifteen ten per cent (1510%) of the total annual Management Expenses (excluding (i) the Manager’s 's remuneration and (ii) expenditure of a capital nature or expenditure drawn or to be drawn out of the Special Fund, in this Clause, (the "capital expenditure"), PROVIDED THAT by a resolution of Owners passed at a meeting of the Owners convened under this Deed, any capital expenditure may be included for calculating the Manager’s 's remuneration at the aforesaid percentage or at such lower rate as considered appropriate by the Owners) reasonably and necessarily incurred for the proper and efficient management of the Land and the BuildingDevelopment. (b) The Manager shall be entitled to charge and be paid all disbursements and out-of-pocket expenses necessarily and reasonably incurred in the course of carrying out its duties hereunder. The Manager’s 's remuneration shall be the net remuneration of the Manager for its services as Manager and shall not include the costs, expenses, salary and fees for any staff, facilities, accountancy services or other professional supervision and all disbursements and out-of-pocket expenses necessarily and reasonably incurred in the course of carrying out its duties hereunder which said costs and expenses shall form part of the Management Expenses and shall be a direct charge upon the Management Expenses. (c) The Owners shall pay to the Manager the Manager’s 's annual remuneration hereunder in advance on the first day (or such other day as the Manager may deem appropriate) of each calendar month by twelve (12) equal monthly instalments each such payment to be in the sum of one- one-twelfth (1/12) of the annual remuneration of the Manager to be determined as aforesaid payable by the Owners according to the annual management budget or the revised annual management budget for the year in question to be prepared as provided in Clauses 5.1 to 5.5 hereof and any adjustment payment that needs to be made to bring the amount paid to the Manager by way of Manager’s 's remuneration for the year in question to the correct amount for such year will be made within twenty twenty-one (21) days from the completion of the auditing of the management accounts for such year as provided in Clause 6.3 hereof. (d) No variation of the percentage referred to in Clause 4.4(a) above may be made except with approval by a resolution of Owners at the meeting of the Owners convened in accordance with the provisions of this Deed for the purpose of reviewing the same. (e) Upon any review of the Manager’s 's remuneration in accordance with Clause 4.4(d) above, if the Manager does not agree to any resolution passed at the meeting of the Owners in respect of such review, then the Manager, if it so desires, shall have the right to resign by giving notice of termination in accordance with Clause 4.1(b)(i) above.

Manager’s Remuneration. (a) The Manager’s annual remuneration of the Manager for the performance of its duties hereunder shall be fifteen per cent (15%) 10% of the total annual Management Expenses expenditure costs and charges (excluding (i) the Manager’s remuneration and (ii) any capital expenditure of a capital nature or expenditure drawn or to be drawn out of the Special Fund, in this Clause, ("capital expenditure"), PROVIDED THAT by a resolution of Owners passed at a meeting of the Owners convened under this Deed, any capital expenditure may be included for calculating the Manager’s remuneration at the aforesaid percentage or at such lower rate as considered appropriate by the Owners) reasonably and necessarily incurred for in the proper and efficient management of the Land Lot and the Building. (b) The Manager shall be entitled to charge Development or any portion of the Lot and be paid all disbursements and out-of-pocket expenses necessarily and reasonably incurred in the course of carrying out its duties hereunderDevelopment. The Manager’s remuneration shall be the net remuneration of the Manager for its services as Manager and shall not include the costs, expenses, salary expenses and fees for any staff, facilities, accountancy legal, professional, accounting and administration services or other professional supervision and all disbursements and out-of-pocket expenses necessarily and reasonably properly incurred in the course of carrying out its duties hereunder which said costs costs, expenses, fees and expenses shall form part of the Management Expenses and disbursements shall be a direct charge upon on the Management Expenses. (c) The Owners shall pay to the Manager management funds. Payment of the Manager’s annual remuneration hereunder shall be in advance on the first day (or such other day as the Manager may deem appropriate) of each calendar month by twelve (12) equal calendar monthly instalments each such payment to be in the sum of one- one twelfth (1/12) of the annual remuneration of the Manager to be determined being 10% of the estimated total annual expenditure for the management of the Lot and the Development (excluding the Manager’s remuneration and the capital expenditure as aforesaid aforesaid) payable by the Owners according to the annual management budget or the revised annual management budget for the year in question to be prepared as provided in Clauses 5.1 14 to 5.5 16 hereof and any adjustment payment or deduction that needs to be made to bring the amount paid to the Manager by way of Manager’s remuneration for the year in question to the correct amount for such year will be made within twenty twenty-one (21) days from the completion of the auditing of the management accounts for such year as provided in Clause 6.3 hereof. (d) 35 hereof Provided always that by a resolution of Owners at an Owners’ meeting convened under this Deed, any capital expenditure or expenditure drawn out of the Special Fund may be included for calculating the Manager’s remuneration at the rate as provided under this Clause, or at such lower rate as the Owners may consider appropriate. No variation of the percentage referred to in Clause 4.4(a) above of the annual remuneration of the Manager may be made except with the approval by a resolution of Owners duly passed at the a meeting of Owners convened in accordance with the provisions of under this Deed for the purpose of reviewing the sameDeed. (e) Upon any review of the Manager’s remuneration in accordance with Clause 4.4(d) above, if the Manager does not agree to any resolution passed at the meeting of the Owners in respect of such review, then the Manager, if it so desires, shall have the right to resign by giving notice of termination in accordance with Clause 4.1(b)(i) above.

Manager’s Remuneration. (a) The Manager’s annual remuneration for the performance of its duties hereunder shall be fifteen per cent (15%) of the total annual Management Expenses (excluding (i) the Manager’s remuneration remuneration, (ii) the Government rent of the Land and (iiiii) expenditure of a capital nature or expenditure drawn or to be drawn out of the Special Fund, such expenditure(s) shall be referred to in this Clause, ("Clause as the “capital expenditure")”, PROVIDED THAT by a resolution of Owners passed at a meeting of the Owners convened under this Deed, any capital expenditure may be included for calculating the Manager’s remuneration at the aforesaid percentage or at such lower rate as considered appropriate by the Owners) reasonably and necessarily incurred for the proper and efficient management of the Land and the BuildingDevelopment. (b) The Manager shall be entitled to charge and be paid all disbursements and out-out- of-pocket expenses necessarily and reasonably incurred in the course of carrying out its duties hereunder. The Manager’s remuneration shall be the net remuneration of the Manager for its services as Manager and shall not include the costs, expenses, salary and fees for any staff, facilities, accountancy services or other professional supervision and all disbursements and out-of-pocket expenses necessarily and reasonably incurred in the course of carrying out its duties hereunder which said costs and expenses shall form part of the Management Expenses and shall be a direct charge upon the Management Expenses. (c) The Owners shall pay to the Manager the Manager’s annual remuneration hereunder in advance on the first day (or such other day as the Manager may deem appropriate) of each calendar month by twelve (12) equal monthly instalments each such payment to be in the sum of one- one-twelfth (1/12) of the annual remuneration of the Manager to be determined as aforesaid payable by the Owners according to the annual management budget or the revised annual management budget for the year in question to be prepared as provided in Clauses 5.1 to 5.5 5.6 hereof and any adjustment payment that needs to be made to bring the amount paid to the Manager by way of Manager’s remuneration for the year in question to the correct amount for such year will be made within twenty twenty-one (21) days from the completion of the auditing of the management accounts for such year as provided in Clause 6.3 hereof. (d) No variation of the percentage referred to in Clause 4.4(a) above may be made except with approval by a resolution of Owners at the an Owners’ meeting of Owners convened in accordance with the provisions of under this Deed for the purpose of reviewing the same. (e) Upon any review of the Manager’s remuneration in accordance with Clause 4.4(d) above, if the Manager does not agree to any resolution passed at the an Owners’ meeting of the Owners convened under this Deed in respect of such review, then the Manager, if it so desires, shall have the right to resign by giving notice of termination resignation in accordance with Clause 4.1(b)(i) above.

Manager’s Remuneration. (a) The Manager’s annual remuneration of the Manager for the performance of its duties hereunder shall be fifteen per cent (15%) 10% of the total annual Management Expenses expenditure costs and charges (excluding (i) the Manager’s 's remuneration and (ii) any capital expenditure of a capital nature or expenditure drawn or to be drawn out of the Special Fund, in this Clause, ("capital expenditure"), PROVIDED THAT by a resolution of Owners passed at a meeting of the Owners convened under this Deed, any capital expenditure may be included for calculating the Manager’s remuneration at the aforesaid percentage or at such lower rate as considered appropriate by the Owners) reasonably and necessarily incurred for in the proper and efficient management of the Land Lot and the Building. (b) The Manager shall be entitled to charge Development or any portion of the Lot and be paid all disbursements and out-of-pocket expenses necessarily and reasonably incurred in the course of carrying out its duties hereunderDevelopment. The Manager’s 's remuneration shall be the net remuneration of the Manager for its services as Manager and shall not include the costs, expenses, salary expenses and fees for any staff, facilities, accountancy legal, professional, accounting and administration services or other professional supervision and all disbursements and out-of-of- pocket expenses necessarily and reasonably properly incurred in the course of carrying out its duties hereunder which said costs costs, expenses, fees and expenses shall form part of the Management Expenses and disbursements shall be a direct charge upon on the Management Expenses. (c) The Owners shall pay to the Manager management funds. Payment of the Manager’s annual 's remuneration hereunder shall be in advance on the first day (or such other day as the Manager may deem appropriate) of each calendar month by twelve (12) equal calendar monthly instalments each such payment to be in the sum of one- one twelfth (1/12) of the annual remuneration of the Manager to be determined as aforesaid being 10% of the estimated total annual expenditure for the management of the Lot and the Development (excluding the Manager's remuneration and any capital expenditure or expenditure drawn out of the Special Fund) payable by the Owners according to the annual management budget or the revised annual management budget for the year in question to be prepared as provided in Clauses 5.1 to 5.5 14-16 hereof and any adjustment payment or deduction that needs to be made to bring the amount paid to the Manager by way of Manager’s remuneration for the year in question to the correct amount for such year will be made within twenty twenty-one (21) days from the completion of the auditing of the management accounts for such year as provided in Clause 6.3 hereof. (d) 35 hereof Provided always that by a resolution of Owners at an Owners' meeting convened under this Deed, any capital expenditure or expenditure drawn out of the Special Fund may be included for calculating the Manager's remuneration at the rate as provided under this Clause, or at such lower rate as the Owners may consider appropriate. No variation of the percentage referred to in Clause 4.4(a) above of the annual remuneration of the Manager may be made except with the approval by a resolution of Owners duly passed at the a meeting of Owners convened in accordance with the provisions of under this Deed for the purpose of reviewing the sameDeed. (e) Upon any review of the Manager’s remuneration in accordance with Clause 4.4(d) above, if the Manager does not agree to any resolution passed at the meeting of the Owners in respect of such review, then the Manager, if it so desires, shall have the right to resign by giving notice of termination in accordance with Clause 4.1(b)(i) above.

Manager’s Remuneration. (a) The Manager’s annual remuneration of the Manager for the performance of its duties hereunder shall be fifteen per cent (15%) 10% of the total annual Management Expenses expenditure costs and charges (excluding (i) the Manager’s 's remuneration and (ii) any capital expenditure of a capital nature or expenditure drawn or to be drawn out of the Special Fund, in this Clause, ("capital expenditure"), PROVIDED THAT by a resolution of Owners passed at a meeting of the Owners convened under this Deed, any capital expenditure may be included for calculating the Manager’s remuneration at the aforesaid percentage or at such lower rate as considered appropriate by the Owners) reasonably and necessarily incurred for in the proper and efficient management of the Land Lot and the Building. (b) The Manager shall be entitled to charge Development or any portion of the Lot and be paid all disbursements and out-of-pocket expenses necessarily and reasonably incurred in the course of carrying out its duties hereunderDevelopment. The Manager’s 's remuneration shall be the net remuneration of the Manager for its services as Manager and shall not include the costs, expenses, salary expenses and fees for any staff, facilities, accountancy legal, professional, accounting and administration services or other professional supervision and all disbursements and out-of-of- pocket expenses necessarily and reasonably properly incurred in the course of carrying out its duties hereunder which said costs costs, expenses, fees and expenses shall form part of the Management Expenses and disbursements shall be a direct charge upon on the Management Expenses. (c) The Owners shall pay to the Manager management funds. Payment of the Manager’s annual 's remuneration hereunder shall be in advance on the first day (or such other day as the Manager may deem appropriate) of each calendar month by twelve (12) equal calendar monthly instalments each such payment to be in the sum of one- one twelfth (1/12) of the annual remuneration of the Manager to be determined as aforesaid being 10% of the estimated total annual expenditure for the management of the Lot and the Development (excluding the Manager's remuneration and any capital expenditure or expenditure drawn out of the Special Fund) payable by the Owners according to the annual management budget or the revised annual management budget for the year in question to be prepared as provided in Clauses 5.1 to 5.5 hereof 16-18 and any adjustment payment or deduction that needs to be made to bring the amount paid to the Manager by way of Manager’s remuneration for the year in question to the correct amount for such year will be made within twenty twenty-one (21) days from the completion of the auditing of the management accounts for such year as provided in Clause 6.3 hereof. (d) 38 Provided always that by a resolution of Owners at an Owners' meeting convened under this Deed, any capital expenditure or expenditure drawn out of the Special Fund may be included for calculating the Manager's remuneration at the rate as provided under this Clause, or at such lower rate as the Owners may consider appropriate. No variation of the percentage referred to in Clause 4.4(a) above of the annual remuneration of the Manager may be made except with the approval by a resolution of Owners duly passed at the a meeting of Owners convened in accordance with the provisions of under this Deed for the purpose of reviewing the sameDeed. (e) Upon any review of the Manager’s remuneration in accordance with Clause 4.4(d) above, if the Manager does not agree to any resolution passed at the meeting of the Owners in respect of such review, then the Manager, if it so desires, shall have the right to resign by giving notice of termination in accordance with Clause 4.1(b)(i) above.

Manager’s Remuneration. (a) 1. The Manager’s annual remuneration for the performance of its duties hereunder shall be fifteen per cent ten percent (1510%) (subject to variation by resolution of the Owners at meetings of the Owners convened under this Deed) of the total annual Management Expenses (excluding (i) management expenditure of the Land and the Development. For the purpose of calculating the Manager’s remuneration Remuneration, the total management expenditure shall exclude the Manager’s Remuneration itself and (ii) any capital expenditure of a capital nature or expenditure drawn or to be drawn out of the Special Fund, Fund as referred to in Clause 10 of Subsection D of this Clause, ("capital expenditure"), PROVIDED THAT Section VI necessarily and reasonably incurred in management of the Land and the Development provided that by a resolution of Owners passed at a meeting of the Owners at an Owners’ meeting convened under this Deed, any capital expenditure or expenditure drawn out of the Special Fund may be included for calculating the Manager’s remuneration Remuneration at the aforesaid percentage rate applicable herein or at such lower rate as considered appropriate by the Owners) reasonably and necessarily incurred for the proper and efficient management . Payment of the Land and the Building. (b) The Manager Manager’s Remuneration shall be entitled to charge in advance in the manner as shall be determined by the Manager. Any over-payment of the Manager’s Remuneration in the year in question shall be refunded and be paid all disbursements by the Manager into the Management Fund within twenty-one (21) days of the completion of the auditing of the annual accounts for such year as provided under Clause 5 of Subsection H of this Section and outany adjustment payment that needs to be made by the Owners to bring the amount paid to the Manager by way of remuneration for the year in question to the correct amount (calculated in accordance of the provisions of this clause) for such year shall likewise be made within twenty-of-pocket expenses necessarily and reasonably incurred in one (21) days of the course completion of carrying out its duties hereunderthe auditing of the annual accounts for such year. 2. The Manager’s remuneration sums payable to the Manager under the provisions aforesaid shall be the net remuneration of the Manager for its services as Manager and shall not include the costs, expenses, salary costs and fees expenses for any staff, facilities, accountancy services or other professional supervision for the Land and all disbursements and out-of-pocket expenses necessarily and reasonably incurred in the course of carrying its duties hereunder Development which said costs and expenses shall form part of the Management Expenses and shall be a direct charge upon the Management Expensesmanagement expenditure. (c) The Owners shall pay to the Manager the Manager’s annual remuneration hereunder in advance on the first day (or such other day as the Manager may deem appropriate) of each calendar month by twelve (12) equal monthly instalments each such payment to be in the sum of one- twelfth (1/12) of the annual remuneration of the Manager to be determined as aforesaid payable by the Owners according to the annual management budget or the revised annual management budget for the year in question to be prepared as provided in Clauses 5.1 to 5.5 hereof and any adjustment payment that needs to be made to bring the amount paid to the Manager by way of Manager’s remuneration for the year in question to the correct amount for such year will be made within twenty one (21) days from the completion of the auditing of the management accounts for such year as provided in Clause 6.3 hereof. (d) No variation of the percentage referred to in Clause 4.4(a) above may be made except with approval by a resolution of Owners at the meeting of Owners convened in accordance with the provisions of this Deed for the purpose of reviewing the same. (e) Upon any review of the Manager’s remuneration in accordance with Clause 4.4(d) above, if the Manager does not agree to any resolution passed at the meeting of the Owners in respect of such review, then the Manager, if it so desires, shall have the right to resign by giving notice of termination in accordance with Clause 4.1(b)(i) above.

Manager’s Remuneration. (a) The Manager’s annual remuneration for the performance of its duties hereunder shall be fifteen ten per cent (1510%) of the total annual Management Expenses (excluding (i) the Manager’s remuneration and (ii) expenditure of a capital nature or expenditure drawn or to be drawn out of the Special Fund, in this Clause, ("“capital expenditure"”), PROVIDED THAT by a resolution of Owners passed at a meeting of the Owners convened under this Deed, any capital expenditure may be included for calculating the Manager’s remuneration at the aforesaid percentage or at such lower rate as considered appropriate by the Owners) reasonably and necessarily incurred for the proper and efficient management of the Land and the Building. (b) The Manager shall be entitled to charge and be paid all disbursements and out-of-pocket expenses necessarily and reasonably incurred in the course of carrying out its duties hereunder. The Manager’s remuneration shall be the net remuneration of the Manager for its services as Manager and shall not include the costs, expenses, salary and fees for any staff, facilities, accountancy services or other professional supervision and all disbursements and out-of-pocket expenses necessarily and reasonably incurred in the course of carrying its duties hereunder which said costs and expenses shall form part of the Management Expenses and shall be a direct charge upon the Management Expenses. (c) The Owners shall pay to the Manager the Manager’s annual remuneration hereunder in advance on the first day (or such other day as the Manager may deem appropriate) of each calendar month by twelve (12) equal monthly instalments each such payment to be in the sum of one- one-twelfth (1/12) of the annual remuneration of the Manager to be determined as aforesaid payable by the Owners according to the annual management budget or the revised annual management budget for the year in question to be prepared as provided in Clauses 5.1 to 5.5 hereof and any adjustment payment that needs to be made to bring the amount paid to the Manager by way of Manager’s remuneration for the year in question to the correct amount for such year will be made within twenty one (21) days from the completion of the auditing of the management accounts for such year as provided in Clause 6.3 hereof. (d) No variation of the percentage referred to in Clause 4.4(a) above may be made except with approval by a resolution of Owners at the meeting of Owners convened in accordance with the provisions of this Deed for the purpose of reviewing the same. (e) Upon any review of the Manager’s remuneration in accordance with Clause 4.4(d) above, if the Manager does not agree to any resolution passed at the meeting of the Owners in respect of such review, then the Manager, if it so desires, shall have the right to resign by giving notice of termination in accordance with Clause 4.1(b)(i) above.

Manager’s Remuneration. (a) The Manager’s annual remuneration of the Manager for the performance of its duties hereunder shall be fifteen not exceed ten per cent (1510%) of the total annual Management Expenses (excluding (i) the Manager’s remuneration and (ii) any capital expenditure of a capital nature or expenditure drawn or to be drawn out of the Special Fund, in this Clause, ("capital expenditure"), PROVIDED THAT by a resolution of Owners passed at a meeting of the Owners convened under this Deed, any capital expenditure may be included for calculating the Manager’s remuneration at the aforesaid percentage or at such lower rate as considered appropriate by the Owners) reasonably and necessarily incurred for in the proper and efficient management of the Land Lot and the Building. (b) The Manager shall be entitled to charge Development or any portion of the Lot and be paid all disbursements and out-of-pocket expenses necessarily and reasonably incurred in the course of carrying out its duties hereunderDevelopment. The Manager’s remuneration shall be the net remuneration of the Manager for its services as Manager and shall not include the costs, expenses, salary expenses and fees for any staff, facilities, accountancy legal, professional, accounting and administration services or other professional supervision and all disbursements and out-of-pocket expenses necessarily and reasonably properly incurred in the course of carrying out its duties hereunder which said costs costs, expenses, fees and expenses shall form part of the Management Expenses and disbursements shall be a direct charge upon on the Management Expenses. (c) The Owners shall pay to the Manager management funds. Payment of the Manager’s annual remuneration hereunder shall be in advance on the first day (or such other day as the Manager may deem appropriate) of each calendar month by twelve (12) equal calendar monthly instalments instalments, each such payment to be in the sum of one- one twelfth (1/121/ th) of the annual remuneration of the Manager to be determined not exceeding ten per cent (10%) of the estimated total annual Management Expenses (excluding the Manager’s remuneration and the capital expenditure or expenditure drawn out of the Special Fund as aforesaid aforesaid) payable by the Owners according to the annual management budget or the revised annual management budget for the year in question to be prepared as provided in Clauses 5.1 to 5.5 4.5-4.8 hereof and any adjustment payment or deduction that needs to be made to bring the amount paid to the Manager by way of Manager’s remuneration for the year in question to the correct amount for such year will be made within twenty twenty-one (21) days from the completion of the auditing of the management accounts for such year as provided in Clause 6.3 hereof. (d) 4.27 hereof PROVIDED ALWAYS THAT by a resolution of Owners at an Owners’ meeting convened under this Deed, any capital expenditure or expenditure drawn out of the Special Fund may be included for calculating the Manager’s remuneration at the rate as provided under this Clause, or at such lower rate as the Owners may consider appropriate. No variation of the percentage referred to in Clause 4.4(a) above of the annual remuneration of the Manager may be made except with the approval by a resolution of Owners duly passed at the a meeting of Owners convened in accordance with the provisions of under this Deed for the purpose of reviewing the sameDeed. (e) Upon any review of the Manager’s remuneration in accordance with Clause 4.4(d) above, if the Manager does not agree to any resolution passed at the meeting of the Owners in respect of such review, then the Manager, if it so desires, shall have the right to resign by giving notice of termination in accordance with Clause 4.1(b)(i) above.

Manager’s Remuneration. 6.3.1 The Manager (aother than the Owners’ Committee when acting as Manager) The Manager’s annual remuneration for the performance of its duties hereunder herein shall be fifteen per cent (paid by way of remuneration not exceeding the rate of 15%) % of the total annual Management Expenses (excluding necessarily and reasonably incurred in the course of proper and efficient management of the Estate. 6.3.2 For the purpose of calculating the Manager’s Remuneration, the total annual Management Expenses referred to in Clause 6.3.1 above shall exclude (i) the Manager’s remuneration and Remuneration, (ii) any capital expenditure of a capital nature or expenditure drawn or to be drawn out of the Special Fund, in this Clause, ("capital expenditure"), PROVIDED THAT Fund Provided That by a resolution of Owners passed at a an Owners’ meeting of the Owners convened under this Deed, any capital expenditure or expenditure drawn out of the Special Fund may be included for calculating the Manager’s remuneration Remuneration at the aforesaid percentage rate of 15% or at such lower rate as considered appropriate by the Owners) reasonably and necessarily . “Capital expenditure” shall mean expenditure of a kind not incurred for the proper and efficient management of the Land and the Buildingannually. (b) The Manager shall be entitled to charge and be paid all disbursements and out-of-pocket expenses necessarily and reasonably incurred in the course of carrying out its duties hereunder. 6.3.3 The Manager’s remuneration Remuneration as aforesaid shall be the net remuneration of the Manager for its services as Manager and shall not include be subject to any requirement by the costs, expenses, salary and fees for Manager to disburse or provide from such money any staff, facilities, accountancy services services, or other professional supervision for the Land and all disbursements and out-of-pocket expenses necessarily and reasonably incurred in the course of carrying its duties hereunder Estate the cost for which said costs and expenses shall form part of the Management Expenses and shall be a direct charge upon the Management ExpensesGeneral Fund. (c) The Owners 6.3.4 Each Owner shall pay his due proportion of the Manager’s Remuneration to the Manager the Manager’s annual remuneration hereunder in advance on the first day (or such other day as the Manager may deem appropriate) of each calendar month month. The percentage of the total annual Management Expenses (excluding the Manager’s Remuneration, the Special Fund and any capital expenditure referred to in Clause 6.3.2) against which the Manager’s Remuneration as stated in Clause 6.3.1 above is calculated may be reviewed by twelve (12) equal a resolution of Owners at meetings of the Owners convened under this Deed. Payment of the Manager’s Remuneration shall be monthly instalments each such payment to be in advance in the sum of one- one twelfth (1/12) of the annual remuneration of the Manager to be determined as aforesaid payable by being 15% of the Owners according to total annual budgeted Management Expenses (excluding the annual management budget or Manager’s Remuneration, the revised annual management budget for the year in question to be prepared as provided in Clauses 5.1 to 5.5 hereof provision of Special Fund and any adjustment payment that needs to be made to bring the amount paid to the Manager by way of Manager’s remuneration for the year in question to the correct amount for such year will be made within twenty one (21) days from the completion of the auditing of the management accounts for such year as provided in Clause 6.3 hereof. (d) No variation of the percentage capital expenditure referred to in Clause 4.4(a6.3.2) above may be made except with approval by a resolution of Owners subject to adjustment at the meeting end of Owners convened in accordance with each financial year when the provisions of this Deed for the purpose of reviewing the samefinal annual Management Expenses are ascertained. (e) Upon any review of the Manager’s remuneration in accordance with Clause 4.4(d) above, if the Manager does not agree to any resolution passed at the meeting of the Owners in respect of such review, then the Manager, if it so desires, shall have the right to resign by giving notice of termination in accordance with Clause 4.1(b)(i) above.

Manager’s Remuneration. (a) 1. The Manager’s annual remuneration for 's Remuneration shall not exceed ten percent (10%) per annum (no variation of the performance percentage may be made except with approval by a resolution of its duties hereunder shall be fifteen per cent (15%the Owners at meetings of the Owners convened under this Deed) of the total annual Management Expenses management expenditure of the Land and the Development (excluding (i) the Manager’s remuneration Remuneration itself, and (ii) any capital expenditure of a capital nature or expenditure drawn or to be drawn out of the Special Fund, Fund as referred to in Clause 11 of Subsection D of this Clause, ("capital expenditure"), PROVIDED THAT Section VI) necessarily and reasonably incurred in the management of the Land and the Development provided that by a resolution of Owners passed at a meeting of the Owners at an Owners’ meeting convened under this Deed, any capital expenditure or expenditure drawn out of the Special Fund may be included for calculating the Manager’s remuneration Remuneration at the aforesaid percentage rate applicable under this Clause or at such lower rate as considered appropriate by the Owners) reasonably and necessarily incurred for the proper and efficient management . Payment of the Land and the Building. (b) The Manager Manager's Remuneration shall be entitled to charge in advance in the manner as shall be determined by the Manager. Any over-payment of the Manager's Remuneration in the year in question shall be refunded and be paid all disbursements by the Manager into the management fund within 21 days of the completion of the auditing of the annual accounts for such year as provided under Clause 5 of Subsection H of this Section and out-of-pocket expenses necessarily and reasonably incurred any adjustment payment that needs to be made by the Owners to bring the amount paid to the Manager by way of remuneration for the year in question to the course correct amount for such year calculated in accordance with the first sentence of carrying out its duties hereunderthis Clause shall likewise be made within 21 days of the completion of the auditing of the annual accounts for such year. 2. The Manager’s remuneration Remuneration payable to the Manager under the provisions aforesaid shall be the net remuneration of the Manager for its services as Manager and shall not include the costs, expenses, salary costs and fees expenses for any staff, facilities, accountancy services or other professional supervision for the Land and all disbursements and out-of-pocket expenses necessarily and reasonably incurred in the course of carrying its duties hereunder Development which said costs and expenses shall form part of the Management Expenses and shall be a direct charge upon the Management Expenses. (c) The Owners shall pay to the Manager the Manager’s annual remuneration hereunder in advance on the first day (or such other day as the Manager may deem appropriate) of each calendar month by twelve (12) equal monthly instalments each such payment to be in the sum of one- twelfth (1/12) of the annual remuneration of the Manager to be determined as aforesaid payable by the Owners according to the annual management budget fund or the revised annual management budget for the year in question to be prepared Special Fund as provided in Clauses 5.1 to 5.5 hereof and any adjustment payment that needs to be made to bring the amount paid to the Manager by way of Manager’s remuneration for the year in question to the correct amount for such year will be made within twenty one (21) days from the completion of the auditing of the management accounts for such year as provided in Clause 6.3 hereofappropriate. (d) No variation of the percentage referred to in Clause 4.4(a) above may be made except with approval by a resolution of Owners at the meeting of Owners convened in accordance with the provisions of this Deed for the purpose of reviewing the same. (e) Upon any review of the Manager’s remuneration in accordance with Clause 4.4(d) above, if the Manager does not agree to any resolution passed at the meeting of the Owners in respect of such review, then the Manager, if it so desires, shall have the right to resign by giving notice of termination in accordance with Clause 4.1(b)(i) above.

Manager’s Remuneration. (a) 1. The Manager’s annual remuneration for the performance of its duties hereunder 's Remuneration shall be fifteen per cent ten percent (1510%) per annum (subject to variation by resolution of the total annual Management Expenses (excluding (i) the Manager’s remuneration and (ii) expenditure of a capital nature or expenditure drawn or to be drawn out of the Special Fund, in this Clause, ("capital expenditure"), PROVIDED THAT by a resolution of Owners passed at a meeting meetings of the Owners convened under this Deed) of the total annual management expenditure of the Land and the Development (excluding the Manager’s Remuneration itself, and any capital expenditure (or expenditure drawn out of the Special Fund as referred to in Clause 10 of Subsection D of this Section VI)) necessarily and reasonably incurred in the management of the Land and the Development provided that by a resolution of the Owners at an Owners’ meeting convened under this Deed any capital expenditure or expenditure drawn out of the Special Fund may be included for calculating the Manager’s remuneration Remuneration at the aforesaid percentage rate applicable under this clause or at such lower rate as considered appropriate by the Owners) reasonably and necessarily incurred for the proper and efficient management . Payment of the Land and the Building. (b) The Manager Manager's Remuneration shall be entitled to charge in advance in the manner as shall be determined by the Manager. Any over-payment of the Manager's Remuneration in the year in question shall be refunded and be paid all disbursements by the Manager into the management fund within 21 days of the completion of the auditing of the annual accounts for such year as provided under Clause 5 of Subsection H of this Section and out-of-pocket expenses necessarily and reasonably incurred any adjustment payment that needs to be made by the Owners to bring the amount paid to the Manager by way of remuneration for the year in question to the course correct amount for such year calculated in accordance with the first sentence of carrying out its duties hereunderthis clause shall likewise be made within 21 days of the completion of the auditing of the annual accounts for such year. 2. The Manager’s remuneration sums payable to the Manager under the provisions aforesaid shall be the net remuneration of the Manager for its services as Manager and shall not include the costs, expenses, salary costs and fees expenses for any staff, facilities, accountancy services or other professional supervision for the Land and all disbursements and out-of-pocket expenses necessarily and reasonably incurred in the course of carrying its duties hereunder Development which said costs and expenses shall form part of the Management Expenses and shall be a direct charge upon the Management Expenses. (c) The Owners shall pay to the Manager the Manager’s annual remuneration hereunder in advance on the first day (or such other day as the Manager may deem appropriate) of each calendar month by twelve (12) equal monthly instalments each such payment to be in the sum of one- twelfth (1/12) of the annual remuneration of the Manager to be determined as aforesaid payable by the Owners according to the annual management budget fund or the revised annual management budget for the year in question to be prepared Special Fund as provided in Clauses 5.1 to 5.5 hereof and any adjustment payment that needs to be made to bring the amount paid to the Manager by way of Manager’s remuneration for the year in question to the correct amount for such year will be made within twenty one (21) days from the completion of the auditing of the management accounts for such year as provided in Clause 6.3 hereofappropriate. (d) No variation of the percentage referred to in Clause 4.4(a) above may be made except with approval by a resolution of Owners at the meeting of Owners convened in accordance with the provisions of this Deed for the purpose of reviewing the same. (e) Upon any review of the Manager’s remuneration in accordance with Clause 4.4(d) above, if the Manager does not agree to any resolution passed at the meeting of the Owners in respect of such review, then the Manager, if it so desires, shall have the right to resign by giving notice of termination in accordance with Clause 4.1(b)(i) above.

Manager’s Remuneration. (a) The Manager’s annual remuneration for the performance of its duties hereunder shall be fifteen ten per cent (1510%) of the total annual Management Expenses (excluding excluding (i) the Manager’s remuneration and (ii) expenditure of a capital nature or expenditure drawn or to be drawn out of the Special Fund, in this Clause, ("“capital expenditure"”), PROVIDED THAT by a resolution of Owners passed at a meeting of the Owners convened under this Deed, any capital expenditure may be included for calculating the Manager’s remuneration at the aforesaid percentage or at such lower rate as considered appropriate by the Owners) reasonably and necessarily incurred for the proper and efficient management of the Land and the Building. (b) The Manager shall be entitled to charge and be paid all disbursements and out-of-pocket expenses necessarily and reasonably incurred in the course of carrying out its duties hereunder. The Manager’s remuneration shall be the net remuneration of the Manager for its services as Manager and shall not include the costs, expenses, salary and fees for any staff, facilities, accountancy services or other professional supervision and all disbursements and out-of-pocket expenses necessarily and reasonably incurred in the course of carrying its duties hereunder which said costs and expenses shall form part of the Management Expenses and shall be a direct charge upon the Management Expenses. (c) The Owners shall pay to the Manager the Manager’s annual remuneration hereunder in advance on the first day (or such other day as the Manager may deem appropriate) of each calendar month by twelve (12) equal monthly instalments each such payment to be in the sum of one- one-twelfth (1/12) of the annual remuneration of the Manager to be determined as aforesaid payable by the Owners according to the annual management budget or the revised annual management budget for the year in question to be prepared as provided in Clauses 5.1 to 5.5 hereof and any adjustment payment that needs to be made to bring the amount paid to the Manager by way of Manager’s remuneration for the year in question to the correct amount for such year will be made within twenty one (21) days from the completion of the auditing of the management accounts for such year as provided in Clause 6.3 hereof. (d) No variation of the percentage referred to in Clause 4.4(a) above may be made except with approval by a resolution of Owners at the meeting of Owners convened in accordance with the provisions of this Deed for the purpose of reviewing the same. (e) Upon any review of the Manager’s remuneration in accordance with Clause 4.4(d) above, if the Manager does not agree to any resolution passed at the meeting of the Owners in respect of such review, then the Manager, if it so desires, shall have the right to resign by giving notice of termination in accordance with Clause 4.1(b)(i) above.

Manager’s Remuneration. (a) The Manager’s annual remuneration of the Manager for the performance of its duties hereunder shall be fifteen per cent (15%) not exceed 10% of the total annual Management Expenses expenditure costs and charges (excluding (i) the Manager’s remuneration and (ii) any capital expenditure of a capital nature or expenditure drawn or to be drawn out of the Special Fund, in this Clause, ("capital expenditure"), PROVIDED THAT by a resolution of Owners passed at a meeting of the Owners convened under this Deed, any capital expenditure may be included for calculating the Manager’s remuneration at the aforesaid percentage or at such lower rate as considered appropriate by the Owners) reasonably and necessarily incurred for in the proper and efficient management of the Land Lot and the Building. (b) The Manager shall be entitled to charge Development or any portion of the Lot and be paid all disbursements and out-of-pocket expenses necessarily and reasonably incurred in the course of carrying out its duties hereunderDevelopment. The Manager’s remuneration shall be the net remuneration of the Manager for its services as Manager and shall not include the costs, expenses, salary expenses and fees for any staff, facilities, accountancy legal, professional, accounting and administration services or other professional supervision and all disbursements and out-of-of- pocket expenses necessarily and reasonably properly incurred in the course of carrying out its duties hereunder which said costs costs, expenses, fees and expenses shall form part of the Management Expenses and disbursements shall be a direct charge upon on the Management Expenses. (c) The Owners shall pay to the Manager management funds. Payment of the Manager’s annual remuneration hereunder shall be in advance on the first day (or such other day as the Manager may deem appropriate) of each calendar month by twelve (12) equal calendar monthly instalments instalments, each such payment to be in the sum of one- one twelfth (1/12) of the annual remuneration of the Manager to be determined not exceeding 10% of the estimated total annual expenditure for the management of the Lot and the Development (excluding the Manager’s remuneration and the capital expenditure or expenditure drawn out of the Special Fund as aforesaid aforesaid) payable by the Owners according to the annual management budget or the revised annual management budget for the year in question to be prepared as provided in Clauses 5.1 to 5.5 14-16 hereof and any adjustment payment or deduction that needs to be made to bring the amount paid to the Manager by way of Manager’s remuneration for the year in question to the correct amount for such year will be made within twenty twenty-one (21) days from the completion of the auditing of the management accounts for such year as provided in Clause 6.3 hereof. (d) 35 hereof PROVIDED ALWAYS THAT by a resolution of Owners at an Owners’ meeting convened under this Deed, any capital expenditure or expenditure drawn out of the Special Fund may be included for calculating the Manager’s remuneration at the rate as provided under this Clause, or at such lower rate as the Owners may consider appropriate. No variation of the percentage referred to in Clause 4.4(a) above of the annual remuneration of the Manager may be made except with the approval by a resolution of Owners duly passed at the a meeting of Owners convened in accordance with the provisions of under this Deed for the purpose of reviewing the sameDeed. (e) Upon any review of the Manager’s remuneration in accordance with Clause 4.4(d) above, if the Manager does not agree to any resolution passed at the meeting of the Owners in respect of such review, then the Manager, if it so desires, shall have the right to resign by giving notice of termination in accordance with Clause 4.1(b)(i) above.

Manager’s Remuneration. (a) The Manager’s annual remuneration of the Manager for the performance of its duties hereunder shall be fifteen per cent (15%) 10% of the total annual Management Expenses expenses, costs and charges (excluding (i) the Manager’s 's remuneration and (ii) any capital expenditure of a capital nature or expenditure drawn or to be drawn out of the Special Fund, in this Clause, ("capital expenditure"), PROVIDED THAT by a resolution of Owners passed at a meeting of the Owners convened under this Deed, any capital expenditure may be included for calculating the Manager’s remuneration at the aforesaid percentage or at such lower rate as considered appropriate by the Owners) reasonably and necessarily incurred for in the proper good and efficient management of the Land Lot and the Building. (b) The Manager shall be entitled to charge and be paid all disbursements and out-of-pocket expenses necessarily and reasonably incurred in the course of carrying out its duties hereunderDevelopment. The Manager’s 's remuneration shall be the net remuneration of the Manager for its services as Manager and shall not include the costs, expenses, salary expenses and fees for any staff, facilities, accountancy legal, professional, accounting and administration services or other professional supervision and all disbursements and out-of-pocket expenses necessarily and reasonably properly incurred in the course of carrying out its duties hereunder which said costs costs, expenses, fees and expenses shall form part of the Management Expenses and disbursements shall be a direct charge upon on the Management Expensesmanagement funds. (cb) The Owners shall pay to the Manager Payment of the Manager’s annual 's remuneration hereunder shall be in advance on the first day (or such other day as the Manager may deem appropriate) of each calendar month by twelve (12) equal calendar monthly instalments each such payment to be in the sum of one- one twelfth (1/12) of the annual remuneration of the Manager to be determined being 10% of the total annual expenses, costs and charges necessarily and reasonably incurred in the management of the Lot and the Development (excluding the Manager's remuneration, the expenditure drawn out of the Special Fund and the capital expenditure as aforesaid aforesaid) payable by the Owners according to the annual management budget or the revised annual management budget for the year in question to be prepared as provided in Clauses 5.1 to 5.5 14, 15 and 17 hereof and any adjustment payment or deduction that needs to be made to bring the amount paid to the Manager by way of Manager’s remuneration for the year in question to the correct amount for such year will be made within twenty twenty- one (21) days from the completion of the auditing of the management accounts for such year as provided in Clause 6.3 hereof. (d) 36 hereof Provided always that by a resolution of Owners at an Owners' meeting convened under this Deed, any capital expenditure or expenditure drawn out of the Special Fund may be included for calculating the Manager's remuneration at the rate as provided under this Clause, or at such lower rate as the Owners may consider appropriate. No variation of the percentage referred to in Clause 4.4(a) above of the annual remuneration of the Manager may be made except with the approval by a resolution of Owners duly passed at the a meeting of Owners convened in accordance with the provisions of under this Deed for the purpose of reviewing the sameDeed. (e) Upon any review of the Manager’s remuneration in accordance with Clause 4.4(d) above, if the Manager does not agree to any resolution passed at the meeting of the Owners in respect of such review, then the Manager, if it so desires, shall have the right to resign by giving notice of termination in accordance with Clause 4.1(b)(i) above.

Manager’s Remuneration. 6.3.1 The Manager (aother than the Owners’ Committee when acting as Manager) The Manager’s annual remuneration for the performance of its duties hereunder herein shall be fifteen per cent (15%) paid by way of remuneration not exceeding the rate of 13% of the total annual Management Expenses (excluding necessarily and reasonably incurred in the course of proper and efficient management of the Estate. 6.3.2 For the purpose of calculating the Manager’s Remuneration, the total annual Management Expenses referred to in Clause 6.3.1 above shall exclude (i) the Manager’s remuneration and Remuneration, (ii) any capital expenditure of a capital nature or expenditure drawn or to be drawn out of the Special Fund, in this Clause, ("capital expenditure"), PROVIDED THAT Fund Provided That by a resolution of Owners passed at a an Owners’ meeting of the Owners convened under this Deed, any capital expenditure or expenditure drawn out of the Special Fund may be included for calculating the Manager’s remuneration Remuneration at the aforesaid percentage rate of 13% or at such lower rate as considered appropriate by the Owners) reasonably and necessarily . “Capital expenditure” shall mean expenditure of a kind not incurred for the proper and efficient management of the Land and the Buildingannually. (b) The Manager shall be entitled to charge and be paid all disbursements and out-of-pocket expenses necessarily and reasonably incurred in the course of carrying out its duties hereunder. 6.3.3 The Manager’s remuneration Remuneration as aforesaid shall be the net remuneration of the Manager for its services as Manager and shall not include be subject to any requirement by the costs, expenses, salary and fees for Manager to disburse or provide from such money any staff, facilities, accountancy services services, or other professional supervision for the Land and all disbursements and out-of-pocket expenses necessarily and reasonably incurred in the course of carrying its duties hereunder Estate the cost for which said costs and expenses shall form part of the Management Expenses and shall be a direct charge upon the Management ExpensesGeneral Fund. (c) The Owners 6.3.4 Each Owner shall pay his due proportion of the Manager’s Remuneration to the Manager the Manager’s annual remuneration hereunder in advance on the first day (or such other day as the Manager may deem appropriate) of each calendar month month. The percentage of the total annual Management Expenses (excluding the Manager’s Remuneration, the Special Fund and any capital expenditure referred to in Clause 6.3.2) against which the Manager’s Remuneration as stated in Clause 6.3.1 above is calculated may be reviewed by twelve (12) equal a resolution of Owners at meetings of the Owners convened under this Deed. Payment of the Manager’s Remuneration shall be monthly instalments each such payment to be in advance in the sum of one- one twelfth (1/12) of the annual remuneration of the Manager to be determined as aforesaid payable by being 13% of the Owners according to total annual budgeted Management Expenses (excluding the annual management budget or Manager’s Remuneration, the revised annual management budget for the year in question to be prepared as provided in Clauses 5.1 to 5.5 hereof provision of Special Fund and any adjustment payment that needs to be made to bring the amount paid to the Manager by way of Manager’s remuneration for the year in question to the correct amount for such year will be made within twenty one (21) days from the completion of the auditing of the management accounts for such year as provided in Clause 6.3 hereof. (d) No variation of the percentage capital expenditure referred to in Clause 4.4(a6.3.2) above may be made except with approval by a resolution of Owners subject to adjustment at the meeting end of Owners convened in accordance with each financial year when the provisions of this Deed for the purpose of reviewing the samefinal annual Management Expenses are ascertained. (e) Upon any review of the Manager’s remuneration in accordance with Clause 4.4(d) above, if the Manager does not agree to any resolution passed at the meeting of the Owners in respect of such review, then the Manager, if it so desires, shall have the right to resign by giving notice of termination in accordance with Clause 4.1(b)(i) above.

Manager’s Remuneration. (a) The Manager’s annual remuneration of the Manager for the performance of its duties hereunder shall be fifteen per cent (15%) 10% of the total annual Management Expenses expenses costs and charges (excluding (i) the Manager’s remuneration and (ii) any capital expenditure of a capital nature or expenditure drawn or to be drawn out of the Special Fund, in this Clause, ("capital expenditure"), PROVIDED THAT by a resolution of Owners passed at a meeting of the Owners convened under this Deed, any capital expenditure may be included for calculating the Manager’s remuneration at the aforesaid percentage or at such lower rate as considered appropriate by the Owners) reasonably and necessarily incurred for in the proper and efficient management of the Land Lot and the Building. (b) The Manager shall be entitled to charge Development or any portion of the Lot and be paid all disbursements and out-of-pocket expenses necessarily and reasonably incurred in the course of carrying out its duties hereunderDevelopment. The Manager’s remuneration shall be the net remuneration of the Manager for its services as Manager and shall not include the costs, expenses, salary expenses and fees for any staff, facilities, accountancy legal, professional, accounting and administration services or other professional supervision and all disbursements and out-of-pocket expenses necessarily and reasonably properly incurred in the course of carrying out its duties hereunder which said costs costs, expenses, fees and expenses shall form part of the Management Expenses and disbursements shall be a direct charge upon on the Management Expenses. (c) The Owners shall pay to the Manager management funds. Payment of the Manager’s annual remuneration hereunder shall be in advance on the first day (or such other day as the Manager may deem appropriate) of each calendar month by twelve (12) equal calendar monthly instalments each such payment to be in the sum of one- one twelfth (1/12) of the annual remuneration of the Manager to be determined being 10% of the estimated total annual expenditure for the management of the Lot and the Development (excluding the Manager’s remuneration and the capital expenditure or expenditure drawn out of the Special Fund as aforesaid aforesaid) payable by the Owners according to the annual management budget or the revised annual management budget for the year in question to be prepared as provided in Clauses 5.1 14 to 5.5 16 hereof and any adjustment payment or deduction that needs to be made to bring the amount paid to the Manager by way of Manager’s remuneration for the year in question to the correct amount for such year will be made within twenty twenty-one (21) days from the completion of the auditing of the management accounts for such year as provided in Clause 6.3 hereof. (d) 35 hereof Provided always that by a resolution of Owners at an Owners’ meeting convened under this Deed, any capital expenditure or expenditure drawn out of the Special Fund may be included for calculating the Manager’s remuneration at the rate as provided under this Clause, or at such lower rate as the Owners may consider appropriate. No variation of the percentage referred to in Clause 4.4(a) above of the annual remuneration of the Manager may be made except with the approval by a resolution of Owners duly passed at the a meeting of Owners convened in accordance with the provisions of under this Deed for the purpose of reviewing the sameDeed. (e) Upon any review of the Manager’s remuneration in accordance with Clause 4.4(d) above, if the Manager does not agree to any resolution passed at the meeting of the Owners in respect of such review, then the Manager, if it so desires, shall have the right to resign by giving notice of termination in accordance with Clause 4.1(b)(i) above.

Manager’s Remuneration. (a) The Manager’s 's annual remuneration for the performance of its duties hereunder shall be fifteen ten per cent (1510%) of the total annual Management Expenses (excluding (i) the Manager’s 's remuneration and (ii) expenditure of a capital nature or expenditure drawn or to be drawn out of the Special Fund, in this Clause, (the "capital expenditure"), PROVIDED THAT by a resolution of the Owners passed at a meeting of the Owners convened under this Deed, any capital expenditure may be included for calculating the Manager’s 's remuneration at the aforesaid percentage or at such lower rate as considered appropriate by the Owners) reasonably and necessarily incurred for the proper and efficient management of the Land and the Building. (b) The Manager shall be entitled to charge and be paid all disbursements and out-of-pocket expenses necessarily and reasonably incurred in the course of carrying out its duties hereunder. The Manager’s 's remuneration shall be the net remuneration of the Manager for its services as Manager and shall not include the costs, expenses, salary expenses and fees for any staff, facilities, accountancy services or other professional supervision and all disbursements and out-of-pocket expenses necessarily and reasonably incurred in the course of carrying out its duties hereunder which said costs and expenses shall form part of the Management Expenses and shall be a direct charge upon the Management ExpensesExpenses unless otherwise directed by the Owners' Corporation or by a resolution of the Owners at an Owners' meeting convened under this Deed. (c) The Owners shall pay to the Manager the Manager’s 's annual remuneration hereunder in advance on the first day (or such other day as the Manager may deem appropriate) of each calendar month by twelve (12) equal monthly instalments each such payment to be in the sum of one- one-twelfth (1/12) of the annual remuneration of the Manager to be determined as aforesaid payable by the Owners according to the annual management budget or the revised annual management budget for the year in question to be prepared as provided in Clauses 5.1 to 5.5 hereof and any adjustment payment that needs to be made to bring the amount paid to the Manager by way of Manager’s 's remuneration for the year in question to the correct amount for such year will be made within twenty one (21) days from the completion of the auditing of the management accounts for such year as provided in Clause 6.3 hereof. (d) No variation of the percentage referred to in Clause 4.4(a) above may be made except with approval by a resolution of the Owners at the meeting of the Owners convened in accordance with the provisions of this Deed for the purpose of reviewing the same. (e) Upon any review of the Manager’s 's remuneration in accordance with Clause 4.4(d) above, if the Manager does not agree to any resolution passed at the meeting of the Owners in respect of such review, then the Manager, if it so desires, shall have the right to resign by giving notice of termination in accordance with Clause 4.1(b)(i) above.

Manager’s Remuneration. (a) 6.3.1 The Manager’s annual remuneration Manager for the performance of its duties hereunder herein shall be fifteen per cent (15%) paid by way of remuneration an amount equal to 10% of the total annual Management Expenses (excluding necessarily and reasonably incurred in the course of its management of the Development. 6.3.2 For the purpose of calculating the Manager's Remuneration, the total annual Management Expenses referred to in Clause 6.3.1 above shall exclude (i) the Manager’s remuneration Remuneration, and (ii) any capital expenditure of a capital nature or expenditure drawn or to be drawn out of the Special Fund, in this Clause, ("capital expenditure"), PROVIDED THAT Fund Provided That by a resolution of Owners passed at a an Owners' meeting of the Owners convened under this Deed, any capital expenditure or expenditure drawn out of the Special Fund may be included for calculating the Manager’s remuneration 's Remuneration at the aforesaid percentage rate of 10% or at such lower rate as considered appropriate by the Owners) reasonably and necessarily . Capital expenditure shall mean expenditure of a kind not incurred for the proper and efficient management of the Land and the Buildingannually. (b) The Manager shall be entitled to charge and be paid all disbursements and out-of-pocket expenses necessarily and reasonably incurred in the course of carrying out its duties hereunder. 6.3.3 The Manager’s remuneration 's Remuneration as aforesaid shall be the net remuneration of the Manager for its services as Manager and shall not include be subject to any requirement by the costs, expenses, salary and fees for Manager to disburse or provide from such money any staff, facilities, accountancy services or services, any other professional supervision and all supervision, other supports or resources including those supports or resources from the head office of the Manager, or any disbursements and out-of-out of pocket expenses necessarily for the Land and reasonably incurred in the course of carrying its duties hereunder Development the cost for which said costs and expenses shall form part of the Management Expenses and shall be a direct charge upon the Management ExpensesGeneral Fund. (c) The Owners 6.3.4 Each Owner of a Unit shall pay his due proportion of the Manager's Remuneration to the Manager the Manager’s annual remuneration hereunder in advance on the first day (or such other day as the Manager may deem appropriate) of each calendar month month. The percentage of total annual budgeted Management Expenses (excluding the Manager's Remuneration, the Special Fund and any capital expenditure referred to in Clause 6.3.2) against which the Manager's Remuneration as stated in Clause 6.3.1 above is calculated may be reviewed and varied by twelve (12) equal a resolution of Owners at meetings of the Owners convened under this Deed. Payment of the Manager's Remuneration shall be monthly instalments each such payment to be in advance in the sum of one- one twelfth (1/12) of the annual remuneration of the Manager to be determined as aforesaid payable by 10% of the Owners according to total annual budgeted Management Expenses (excluding the annual management budget or Manager's Remuneration, the revised annual management budget for the year in question to be prepared as provided in Clauses 5.1 to 5.5 hereof Special Fund and any capital expenditure referred to in Clause 6.3.2) subject to adjustment payment that needs to at the end of each financial year when the final annual Management Expenses are ascertained. 6.3.5 The Manager’s Remuneration shall be made to bring the amount paid to the Manager in advance on the first day of each calendar month by way of Manager’s remuneration for deductions made by the year Manager from the monthly Management Fees collected from the Owners, and such deductions shall be in question priority to the correct amount for such year will all other payments to be made within twenty one (21) days from the completion out of the auditing of the management accounts for such year as provided in Clause 6.3 hereofManagement Expenses. (d) No variation of the percentage referred to in Clause 4.4(a) above may be made except with approval by a resolution of Owners at the meeting of Owners convened in accordance with the provisions of this Deed for the purpose of reviewing the same. (e) Upon any review of the Manager’s remuneration in accordance with Clause 4.4(d) above, if the Manager does not agree to any resolution passed at the meeting of the Owners in respect of such review, then the Manager, if it so desires, shall have the right to resign by giving notice of termination in accordance with Clause 4.1(b)(i) above.