GL0US142 Ironsides Asset Mgmt Scotian 6: Summery of Terms end Conditions Glendower Capital Secondary Opportunities Fund IV. LP Feeder Fund's Invested Capital"), and (iii) for each successive year thereafter, until the last day of the term (including any extension thereof), the lesser of (a) 90% of the General Partner's Share attributable to each Limited Partner or such Feeder Fund investor, for the immediately preceding year (but not less than 0.25% of the Invested Capital of such Limited Partner), and (b) 1.25% per annum (as reduced by the Applicable Points) calculated with respect to each Limited Partner's pro rata share (based on the Invested Capital of the Fund's most recently reported net asset value). The General Partner's Share in respect of each Legacy Investor shall be equal to the general partner's share attributable to such Legacy Investor in respect of its commitment to SOF III. Neither the General Partner nor the Second GP will receive any General Partner's Share with respect to the Special Limited Partner. The General Partner's Share is subject to reduction as provided below in 'Transaction, Break Up and Other Fees.' 'Applicable Points' means with respect to (a) a Limited Partner (other than a Feeder Fund) and its Commitment or (b) an investor in a Feeder Fund and its commitment (or equivalent) to such Feeder Fund: (i) for a Commitment (or equivalent) that is less than US$50 million. zero basis points, (ii) for a Commitment (or equivalent) that is US$50 million or more but less than US$100 million, five basis points, (iii) for a Commitment (or equivalent) that is US$100 million or more but less than USS150 million, ten basis points, (iv) for a Commitment (or equivalent) that is US$150 million or more but less than US$200 million, 15 basis points, and (v) for a Commitment (or equivalent) that is US$200 million or more, 20 basis points. 'Legacy investor means (i) each Limited Partner that made a direct commitment to SOF III and