Common use of Management Equity Clause in Contracts

Management Equity. The Management SPV will take the form of a Jersey incorporated company, which is owned by a limited partnership incorporated in Jersey (“Management LP”). The Management SPV will hold the Management Equity to the order of and at the direction of the general partner of the Management LP (“General Partner”). The General Partner will also be a Jersey incorporated company. The Managers designated in accordance with paragraph 3.2 below shall constitute the management committee of the Management LP (“Management Committee”). Certain members of the Management Committee (“Managing Directors”) (in the first instance being the Chief Executive Officer (“CEO”), Chief Financial Officer (“CFO”), General Counsel and two senior traders) will be designated by the CEO the directors of the General Partner and the Management SPV and will own the shares in the General Partner.