Exhibit (k)(v)
EXPENSE ARRANGEMENT
January 13, 2004
Man-Glenwood Lexington TEI, LDC
Glenwood Capital Investments, L.L.C.
This letter is to confirm an expense arrangement entered into between Glenwood
Capital Investments, L.L.C. (the "Adviser") and Man-Glenwood Lexington TEI, LDC
("TEI LDC"). The Adviser agrees to:
1. Bear and pay all organizational costs associated with the
formation of TEI LDC; and
2. Bear and pay any and all ongoing costs associated with the
operation and maintenance in good standing of TEI LDC.
Very truly yours,
GLENWOOD CAPITAL INVESTMENTS, L.L.C.
By: _____________________________
Name:
Title:
Accepted and agreed to on behalf of
Man-Glenwood Lexington TEI, LDC
By MAN-GLENWOOD LEXINGTON TEI, LLC,
As managing member
By: _____________________________
Name: Xxxxxx Xxxxx
Title: Secretary
