Management fees will be paid quarterly, at 2% (annual) of the total limited partner commitment amount, and will be assesed pro-rata. Management fees will be offset by any placement fees paid, until the entire placement fee is offset. Mitch, Brian, and Inna paid placement fees of 2% of their commitment. Please calculate the management fee for both Q1 and Q2 LP Daisy Mitch $ Commitment 100,000 $ 250,000 Brian Inna $ 100,000 $ 500,000 JB $ 200,000 Derek $ 300,000 General Partner $ 25,000 Total $ 1,475,000