Return Incentive definition
Examples of Return Incentive in a sentence
This portion of the Total Return Incentive Fee is referred to as the “Founder Catch Up”.
The Total Return Incentive Fee will be calculated and will accrue on a quarterly basis, to the extent that it is earned.
The Manager shall have the right to elect to waive or defer all or a portion of the Base Management Fee and/or Total Return Incentive Fee that would otherwise be paid to it (in addition to any portion of such Base Management Fee and/or Total Return Incentive Fee reduced or deferred pursuant to the terms of the Expense Support Agreement) only upon written consent of the Sub-Manager.
The Company will perform a final reconciliation of the Total Return Incentive Fee calculation at the completion of each calendar year and the Total Return Incentive Fee shall be due and payable to Manager no later than ninety (90) calendar days following the end of the applicable calendar year.
The Total Return Incentive Fee shall be based on the Total Return to Shareholders (as defined below) for each share class of the Company in any calendar year, payable annually in arrears.
During the Initial Term and any Renewal Term (each as defined in Section 9(a) hereof), the Company shall pay or cause to be paid to the Manager, and the Sub-Manager pursuant to Section 1(e)(ii), a base management fee (“Base Management Fee”) and total return incentive fee (“Total Return Incentive Fee”) as hereinafter set forth subject to any reduction or deferral of any Base Management Fee amounts or Total Return Incentive Fee amounts pursuant to the terms of the Expense Support Agreement.
Payment of the Total Return Incentive Fee to the Managers is also subject to the deferral requirements in the Company’s Second Amended and Restated Share Repurchase Plan.
By accepting this Total Shareholder Return Incentive Award, the Grantee agrees, to the extent not contrary to applicable law, to the General Terms of Employment set out on Attachment 1 and the Arbitration Provisions set out on Attachment 2, which, in each case, are incorporated in this Agreement by reference.
The “Operating Expense Ratio” is calculated by dividing the Operating Expenses, less Organizational and Offering Expenses, Base Management and Total Return Incentive Fees owed to Managers, and interest expense, by gross assets.
The Company may, in its sole discretion, decide to deliver any documents related to this Total Shareholder Return Incentive Award granted under the Plan or future awards that may be granted under the Plan (if any) by electronic means or to request the Grantee’s consent to participate in the Plan by electronic means.