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PATPAMMFX CAPITAL
Forex Account Manager
Dear Client:
This letter agreement (this Agreement) memorializes certain compensation payable to you
in connection with Forex Account Management by Patpammfx Capital as advisor / trader (along
with its prime brokerage, Trading Point Holdings Ltd.). This Agreement is based on your
providing, and continuing to provide, ongoing services satisfactory with Patpammfx Capital on a
full-time basis. In exchange, Patpammfx Capital will provide you with the compensation as set
forth below, subject to the terms and conditions of this Agreement.
For the avoidance of doubt, the foregoing does not grant you any management, control or
other rights with respect to the applicable Funds. You and the interests granted hereunder shall be
subject to the provisions of the agreement and any other document or arrangement which govern
the terms implemented by Patpammfx Capital. You shall be entitled to your Commission Incentive
Payments reasonably promptly after Patpammfx Capital receives the associated incentive
distributions from the applicable managed fund with the prime brokerage Trading Point Holdings
Ltd.. Patpammfx Capital shall periodically make reasonable estimates of your expected
Investment Payments and Profit Sharing Payments shall make quarterly payments to you based
on such estimates. You shall receive a true-up payment on such date to make up for any shortfall.
Your entitlement to Incentive Payments, Investment Payments and Profit Payments shall
cease immediately upon the termination of this agreement with Patpammfx Capital, whether by
voluntary, involuntary termination (with or without cause), death, disability or otherwise for any
reason.
2. Withholding; Repayments; Tax Treatment.
o Patpammfx Capital does not collect or deduct any amounts of taxes or any fees; otherwise
payable or distributable to you any and all amounts required to be deducted or withheld
since there is no clear regulation state under any applicable law with regards to
management of trading accounts. Patpammfx Capital makes no representation as to the tax
treatment of payments made hereunder under applicable tax laws.
3. At will on Partnership. You acknowledge and agree that your partnership rights shall not
be enlarged or guaranteed by reason of any of the provisions of this Agreement. You
further acknowledge and agree that you are and will continue to be an at will partner of
Patpammfx Capital, which means that your partnership with Patpammfx Capital may be
terminated at any time prior to verbal or written termination by Patpammfx Capital with
proper notice and for any unlawful act or conduct or any violation with the contract.
5. Definitions. (a) Net Investment Income means, with respect to a given fiscal year, all
income (excluding commission incentive income) earned by the accumulative transactions
from trading their respective direct and indirect investments of the managed funds. (b) Net
Operating Profit means, with respect to a given fiscal year, the net income of the
Patpammfx Capital, determined according to the rules implemented in the agreements
without consolidation of Funds, as adjusted by (i) adding back (A) the total operation
expense recognized with respect to the managed account, (ii) excluding commission
incentive income and other significant expenses, (iii) excluding Net Investment Income and
(iv) excluding compensation expense relating to individuals entitled to payments in respect
of Net Operating Profit and Net Investment Income. (c) Net Incentive Income means, with
respect to a given fiscal year, (i) all commission incentive earned from the trading volume
generated from the prime brokerage partner which is the Trading Point Holdings Ltd. net
of (ii) all participation in such income granted to any affiliate party such as Patpammfx
Capital an as adjusted to take into account payments in respect of Net Incentive Income
granted hereunder and other participations in such incentive income as determined by
Patpammfx Capital consistent with past practice.
(d) Patpammfx Operating Group means, collectively, the investment advisors or traders
authorize to handle or manage the funds, in which represents the name; Patpammfx Capital
has a minority economic interest and indirect control. Net Incentive Income, Net Investment
Income, Net Operating Profits and the amount of any management fee offsets for any
applicable Fund will be determined in accordance with the partnership agreement, separate
from the Forex account management agreement or other relevant document(s) governing
or binding upon the applicable Fund.
6. Governing Law. This Agreement shall not be imply, or construed and enforced, along with
any rights, remedies, or obligations provided for hereunder, in accordance with any laws of
the country and this may applicable to contracts made and to be performed between the
investee, assignee and the Patpammfx Capital as trader.
Sincerely,
PATPAMMFX CAPITAL
Forex Account Manager
By:
Name: ____________________
Title: ____________________
By:
Name: ____________________
Title: ____________________
_________________________
Investors Name with Signature
Beneficiary / Assignee:
__________________________
Authorized Name with Signature