Common use of Performance Fees Clause in Contracts

Performance Fees. Contributing Members will be entitled to receive a Performance Fee from the Fund. The total Performance Fees for a Phase is distributed in a prorated manner accounting for the contributions made by each Contributing Member and the degree of positive return said contributions have brought to the Portfolio. The ascertainment of the contributions made and the relevant fees to be distributed to contributors is conducted by the Custodian using past record of the portfolio updates For each Calculation Period, the Performance Fee will be equal to 30% of the appreciation in the Net Asset Value during the Phase (adjusted for any deposits and withdrawals). The Performance Fee will be calculated as at each Valuation Day before deduction for any accrued Fees. The Relevant Percentage is 30 per cent. If Tokens are redeemed in the middle of a Phase, the Performance Fee in respect to such Tokens will be calculated as though the relevant redemption day was the last day of said Phase.