Common use of Variable Distributions Clause in Contracts

Variable Distributions. Subject to the other terms of this Agreement and the Limited Partnership Agreement, the Limited Partner may receive (i) with respect to each Fiscal Year commencing with 2016, conditional performance-based discretionary awards from the Operating Partnerships as described below (a “Performance Distribution” and, together with any PSI Distribution in respect of the same Fiscal Year, a “Variable Distribution”); and (ii) with respect to each Fiscal Year commencing with 2017, a PSI Distribution as described below. Any Variable Distribution for Fiscal Year 2016 shall be comprised only of a Performance Distribution and the Limited Partner shall not be eligible to receive a PSI Distribution in respect of Fiscal Year 2016. The PMC Chairman shall make all decisions relating to: (A) any PSI Distribution as provided in the Limited Partnership Agreement, and (B) any Performance Distribution, including, without limitation, whether any Performance Distribution will be granted to the Limited Partner, and the amount of any such Performance Distribution based on any considerations he determines to be appropriate, including but not limited to the aggregate amount of distributions made to the Limited Partner by the Operating Partnerships with respect to any Fiscal Year. All determinations by the PMC Chairman shall be final. Any such determinations to award a Performance Distribution in respect of a Fiscal Year shall not create or imply any obligation to award a Performance Distribution in respect of any other Fiscal Year.

Variable Distributions. Subject to the other terms of this Agreement and the Limited Partnership Agreement, the Limited Partner may receive (i) with respect to each Fiscal Year commencing with 2016, conditional performance-based discretionary awards from 2017 the Operating Partnerships as described below Limited Partner may receive a Variable Distribution comprised of (i) a “Performance Distribution” and, together with any PSI Distribution for such Fiscal Year determined in respect of accordance with the same Fiscal YearLimited Partnership Agreement, a “Variable Distribution”); and (ii) with respect to each Fiscal Year commencing with 2017, a PSI Performance Distribution as described below. Any (the sum of the Variable Distribution for such Fiscal Year 2016 shall be comprised only of a Performance Distribution and any Quarterly Payments made during such Fiscal Year, the Limited Partner shall not be eligible to receive a PSI Distribution in respect of “Total Annual Amount” for such Fiscal Year 2016Year). The PMC Chairman shall make all decisions relating to: (A) any PSI Distribution as provided in the Limited Partnership Agreement, and (B) any Performance Distribution, including, without limitation, whether any Performance Distribution will be granted to the Limited Partner, and the amount of any such Performance Distribution based on any considerations he determines to be appropriate, including but not limited to the Limited Partner’s performance and the overall performance and growth of Och-Ziff and the aggregate amount of distributions and Quarterly Payments made to the Limited Partner by the Operating Partnerships with respect to any Fiscal Year. All determinations by the PMC Chairman shall be final. Any such determinations to award a Performance Distribution in respect of a Fiscal Year shall not create or imply any obligation to award a Performance Distribution in respect of any other Fiscal Year.