SOF III - 1081 Southern Financial LLC Secondary Opportunities Fund III. LP Appendix 4 Key Definitions 25% Test As defined in Section 10: Certain Legal, ERISA and Tax Considerations Advance An amount equal to 99.99% of a Limited Partners Commitment which may be drawn down from time to time in the form of advances to the Fund. AIFMD The EU Alternative Investment Fund Managers Directive. Alternative Vehicle An alternative investment vehicle through which the Manager will have the right, in connection with any investment, to direct the Advances of some or all of the Limited Partners to be made. Applicable Points With respect to (i) a Limited Partner (other than a Feeder Fund) and its Commitment or (ii) an investor in a Feeder Fund and its commitment (or equivalent) to such Feeder Fund: (a) for a Commitment (or equivalent) that is less than US$50 million, zero basis points, (b) for a Commitment (or equivalent) that is US$50 million or more but less than US$100 million, 10 basis points, and (c) for a Commitment (or equivalent) that is US$100 million or more, 20 basis points. Benefit Plan Investor As defined in Section 10: Certain Legal, ERISA and Tax Considerations. BHC Act Carried Interest CFCs US Bank Holding Company Act of 1956, as amended, and the rules and regulations promulgated thereunder. The distributions to the Special Limited Partner described in sub-paragraphs (iii) and (iv) of the "Distributions' paragraph of Section 7: Summary of Principal Terms and Conditions. As defined in Section 10: Certain Legal. ERISA and Tax Considerations. CFTC The US Commodity Futures Trading Commission Closing The First Closing and one or more additional closings of the Fund to admit additional Investors. Code The US Internal Revenue Code of 1986, as amended. Co-Investment A co-investment in an individual portfolio company alongside one or more private equity fund sponsors. Commitment A Limited Partner's commitment to the Fund. Complementary