Common use of Carry Clause in Contracts

Carry. Effective as of the date hereof, Executive shall receive, with respect to each calendar year during the Term, a payment (such payments, “Carry”) equal to: (i) 3.75% of the proceeds from all net cash gains realized by BCG on investments in capital provision assets made by BCG (“Proceeds”) for each vintage year during the period beginning on January 1, 2015 and ending on December 31, 2023 and (ii) 3% of the Proceeds for each vintage year during the Term. For purposes of this Agreement, Proceeds shall (A) include, without limitation, (1) income received in cash from the BCG Master Allocation Agreement with its BOF-C investment fund, (2) asset management income received in cash from the ▇▇▇▇▇▇▇ Advantage Fund (and including in the case of each of the immediately foregoing clauses (1) and (2), any successor investment funds thereto) and (3) cash proceeds of secondary sales of investments occurring following the Effective Date, insurance proceeds related to investments in capital provision assets or other investment-related activity and (B) exclude any management fees, performance fees or other cash income realized by BCG from its management of other existing investment funds. For the avoidance of doubt, with