TPARK LOGISTICS PROPERTY FUND (TLOGIS)

(1) For the first management period from11 December 2009 to 31 December 2016.
the Property Management Fee = [A x (B – C – D – E)], where
A = a fix rate as predetermined in Property Management Agreement.
B = cumulative actual income from Property Gross Revenue and other incomes
related to Property Gross revenue as recorded in the account of the Fund in
a particular month.
C = Cumulative Guaranteed Amount.
D = cumulative expenses for each Year in relation to the management of
Properties, for example, the maintenance and repairs for the Properties, land
and household tax, insurance premiums for the insurance policy, expenses
where any Properties are unoccupied, the common service area, security
service fee and other expenses, including but not limited to provision for bad
debts, as appeared in the audited financial statements of the Fund.
E = monthly reserve for the replacement of equipment and major repairseto the
Properties (Reserve for Replacement). The annual Reservetfor Replacement
shall not exceed Baht 4,000,000 and 10 (ten) per cent of net profit of the Fund
in such Year. There will be no Reserve for Replacement set for the years
2009 and 2010. If the Property Management Fee calculated above becomes
negative, the Property Management Fee shall be deemed to be 0 (zero).
And in such case, the Fund does not have the obligation to pay Property
Management Fee to the property manager.
(2) For the second management period from 1 January 2017 to 31 December 2019
The Property Management Fee shall comprise 3 (three) percent of the Property Gross
Revenue PLUS an incentive fee of 0 (zero) to 10 (ten) per cent of the Gross Operating Profit of the
Fund.
The total Property Management Fee and Other Fees shall not exceed 3 (three) percent of
the net asset value of theDFund.
Six month prior to the ending of the period in clause (1) or prior to 30 June 2016, the Fund
and the Property Manager may negotiate on details of the Cumulative Guaranteed Amount to be
provided by the Property Manager and the formula for the calculation of the Property Management
Fee, provided that the Fund Manager (on behalf of the Fund) will take into account the benefit
of the unitholders. With respect to the negotiation, the situation of property industry, trend, the
operation result of the Fund including performance of the Property Manager in relation to the
management of the Fund the will be also considered.
In addition to Property Management Fee, the Property Manager will be entitled to receive
other fees set out below:
• Brokerage fee for solicitation of a new tenan :
(a) For the first Management Period : there is no brokerage fee for solicitation of a new
tenant
(b) For the second Management Period : for any new Lease and Service Agreement entered
into by a new tenant for a term of 3 (three) years or more, a commission is equal to 2
(two) months rental and services fee with respect to such property. In case of new Lease
and Service Agreement has a term of shorter than 3 (three) years, the lease commission
payable to the Property Manager shall be adjuste pro-rata to the 2 (two) months rental
based on the length of the lease.
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