anaged Properties' Comparison of Estimated Value and Performance Fee For the Pence's 1/1/2002 and 12/31/2004 Eatlealedleeforaittecefiee Parable to Geormeown Estimate as of 12[310844 As of inaffl2 Estimated Qum Initial Vested Amount (per ameemeM) S 10.000.000 S 10.000,000 (man Effective dale Sc