- 13 -13 Management: ASA would be governed by a partnership committee, consisting of Mr. Matthews, representing AlliedSignal and ASIC, and Mr. de Beer, representing Barber and Dominguito. An act of the partnership committee generally would require the consent of partners whose partnership percentages totaled at least 95 percent. Income Allocations: Generally, ASA's net income would be allocated as follows: If the combined capital of Barber and Dominguito exceeded 50 percent of the capital of all the partners, income would be allocated first to AlliedSignal and ASIC in an amount limited to their invested capital multiplied by the 90-day Treasury bill rate plus 10 b.p., then to Barber and Dominguito in an amount limited to their invested capital multiplied by LIBOR plus 1 b.p., and the balance to each partner in proportion to its respective partnership interest. If Barber's and Dominguito's combined capital did not exceed 50 percent, net income would be allocated in proportion to each partner's interest. Loss Allocations: Generally, ASA's losses would be allocated to each partner in proportion to its respective partnership interest. Any loss attributable to the bankruptcy of an issuer of a debt instrument, however, would be allocated as follows: If the combined capital of Barber and DominguitoPage: Previous 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 Next
Last modified: May 25, 2011