Amended Schedule A to Investment Advisory Agreement between Inland Investment Advisors, Inc. and Inland Retail Real Estate Trust, Inc.
This document is an amended fee schedule to the Investment Advisory Agreement between Inland Investment Advisors, Inc. and Inland Retail Real Estate Trust, Inc., effective May 1, 2006. It outlines how the Adviser will be compensated for managing the Client’s assets, including specific percentage fees based on asset value and performance, as well as fees for futures and options contracts. The schedule can be changed by the Adviser with 30 days’ written notice. Fees are calculated monthly and deducted from the Client’s account, with the Client also responsible for certain third-party charges.
AMENDED SCHEDULE A
TO INVESTMENT ADVISORY AGREEMENT
DATED MAY 1, 2006
BETWEEN
INLAND INVESTMENT ADVISORS, INC ("Adviser")
INLAND RETAIL REAL ESTATE TRUST, INC. ("Client")
1. This Schedule A may be amended from time to time by Adviser upon 30
days' written notice to Client.
2. Fee Schedule as of May 1, 2006:
Client shall pay or cause to be paid to Adviser as remuneration for its services under this Agreement a percent per annum based on the schedule below as an investment management fee on all assets under management.
A.
as an investment management fee on all equity assets under management:
• from $0 - $10,000,000 fee is 1 percent (1.0%) of assets
• from $10,000,001 - $25,000,000 fee is 90 basis points (.90%) of assets
• from $25,000,001 - $50,000,000 fee is 80 basis points (.80%) of assets
• over $50,000,000 fee is 75 basis points (.75%) of assets
• an additional performance fee calculated at the end of each calendar year of:
• 50 basis points (1/2%) if the annualized net profit is 15% - 20%
• 1% if the annualized net profit is 20%+
B.
as an investment management fee on all contracts (other than covered calls) related to futures and/or options only:
• 50 basis points (1/2 %) on the option value on the date the position is closed; and
• 5% of the all profits earned on futures and/or options provided client earns a annual minimum return of 20% on closed positions during the calendar year ending December 31st or if Agreement is terminated prior to that date earned until such date.
In addition, Client will be responsible for any third party fees and charges as described in Section II of the Agreement. The fee will be computed and due monthly based on the average daily net asset value. The fee will be deducted from cash available in the account, and if there is no cash available, asset(s) will be sold in an amount equal to the payment due.
