JPMorgan Private Equity (Split (ZDP 2017) JPEL

Objective:

Management Contract & Fees:

The managers will be entitled to a fee of 1.0% per annum of total assets, charged wholly to revenue. The managers may also be entitled to a performance fee if the aggregate NAV of the equity shares and ZDP shares at the end of any performance period exceeds i) the aggregate NAV of the Equity Shares and ZDP Shares at the start of the Performance Period by more than 8% and ii) the highest previously recorded aggregate NAV of the Equity and ZDP Shares as at the end of a Performance Period in respect of which a performance fee was last paid. The amount of such performance fee will be 7.5% of the total increase in the aggregate NAV per Equity Share and ZDP Share above the Performance Hurdle at the end of the relevant period over the aggregate NAV per Equity Share and ZDP Share at the start of the relevant period, multiplied by the number of issued and outstanding Equity and ZDP Shares at the end of relevant performance period. The administrator will be entitled to an annual fee in respect of administration and company secretarial services calculated on the Total Assets of the Company at a rate of 0.125% on the first $100million, 0.1% on the next $50 million, 0.075% on the next $50 million and 0.05% on the balance subject to a minimum annual fee of $125,000.