10. Which of the following statements is false?

a.In most partnership agreements between LPs and GPs, a priority return is expected.

b.When GPs are expected to receive carry before all committed capital is returned, a clawback provision can alleviate problems if the fund's performance weakens later.

c.LPs include covenants in the partnership agreement such as limiting investing in other asset classes, limiting debt use and size of single investments in VC's portfolio.

d.LPs may limit investments made personally by GPs in the fund