SubManager Base Management Fee

SubManager Base Management Fee. Means a base management fee equal to the sum of (i) 20%, calculated and paid (in cash) quarterly in arrears, of the Base Management Fee earned by the Manager or its assignee under the Management Agreement with respect to the first $1 billion of the Stockholders' Equity and (ii) 10%, calculated and paid (in cash) quarterly in arrears, of the Base Management Fee earned by the Manager or its assignee under the Management Agreement with respect to the Stockholders' Equity in excess of $1 billion;... provided, that such reference to quarterly calculation 3 and payment shall be amended without further action of the parties hereto to read "monthly" to the extent the Management Agreement is amended or modified to provide for payments on a monthly basis. View More