What incentive is there for Boston Pizza International to maximize the Fund’s growth and performance?
The interests of BPI management and Unitholders are closely aligned. Exceptional performance of the Fund is beneficial to both Unitholders and BPI. BPI currently owns, through securities exchangeable into units of the Fund, a 20% interest in the Fund. BPI must maintain its 20% interest in the Fund until such time as there are 275 Boston Pizza restaurants in the Royalty Pool – (see above regarding the addition of new locations). To further align the relationship between the Fund and BPI, management of BPI will participate in an incentive program. Incentive program rewards will be determined based on the achievement of targets for same store sales growth and new restaurant openings; the same key criteria that drives yield enhancement for the Fund. The incentive plan would entitle BPI management to earn up to 20% of the value of the additional units of the Fund that BPI is entitled to receive upon this exchange. Somewhat unique to this incentive plan, all costs related to the plan will be
