GLOUS238 SOUTHERN FINANCIAL LLC
Glendower Fee Sheet
May 2018
Master Fund Access Fund Total Fees (Master + Access Fund Fess)
For the 2 Years For the 2 Years For the 2 Years
Immediately During Immediately During Immediately
Commitment Size During Investment
Following Thereafter: Investment Following Thereafter ' Investment Following Thereafter'
Period:
Investment Period' Investment Period' Investment
Period' Period' Period:
<$3 million • of 'AN t I :.CV' • tf Se) cd 2.10% 1.60% > of 90% of
$3 million - <$5 million 1.10% 0.95% previous year 0.75% 0.60% previous year 1.85% 1.45% previous year or
45 million or 0.25% 0.25% 0.25% or 0.25% 1.35% 1.10% 0.25%
Master Fund Access Fund
/ I
I' t 12.5% after an 8% preferred No additional corned interest charged
3 t l. return by the access fund
Commitment Size Placement Foil
a
<$1million 2.00%
$1million - <$2.5 million 1.50%
$2.5 million • <$5 million 1.00%
1
45 million No Fee
Glendower SOF IV Fees for Clients Investing Directly
Master Fund
For the 2 Years
Immediately
Commitment Size During Investment
Following Thereafter'
Period'
Investment
tl
R Period'
> of 90% of
45 million 1.25% 1.00% previous year
or 0.25%
Master Fund
2
. 12.5% after an 8% preferred
X 2
return
111 Calculation basis :Limited Panne.", capital commionem
121 Caktdation base = Invested Capital as Kay defined in the undethring fund SPA (generally. invested capital at the undedprig fund a the amount of capital invested in investments and the remixing unfunded obh"seons reasonably mewed for
such investments
Ill Includes• IS bps discount for clients nveseng through Arrest Fund
le) Bankers NW the fleebility to reduce piaci:mom fee by up 10 25% without further approval fleductoons in tens ol 25% will mauve GPS approval.
Sourced from Glendower Capital Secondary Opportunities Fund IV LP ("SOF IV")
CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0088548
CONFIDENTIAL SDNY_GM_00234732
EFTA01386725