p are not held in accordance with the Managing Partners' respective Sharing Percentages. Instead, each Managing Partner's Pecuniary Interest in such Heritage Funds is held in accordance with the historic ownership arrangements among the Managing Partners, and the Managing Partners continue to share the operatin

% of the profits interests in Fund IV and 26.2% of the profits interests in Fund V.3 Accordingly, BFP's profits interests in AOG, including the two Heritage Funds, should not exceed the 35% threshold for excess business holdings. d. Tax Receivable Agreement The use of CLATs in Leon's estate planning should n

p are not held in accordance with the managing partners' respective Sharing Percentages. Instead, each managing partner's Pecuniary Interest in such Heritage Funds is held in accordance with the historic ownership arrangements among the managing partners. and the managing partners continue to share the operatin