and (b) meet the definition of ""independent director"" set forth
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funding capital expenditures of subsidiaries and joint
funding operating and other expenses of KUE
pursuant to Subsections (a) and (b) in proportion as follows: (a) to the Common Limited
for the Common Limited Partners and the General Partner to receive
and the General Partner in proportion to the number of Units held
for the Common Limited Partners and the General Partner to receive
and (2) KUE or any direct or indirect subsidiary or joint venture
benefits and arrangements to the Principals that do not exceed $1 million in the aggregate
including the ""Investment in Subsidiaries"" and ""Co-Invest Right' described below
and (e) admissions of any affiliate of the Principals to KUE as a Limited Partner on
unless otherwise approved by the Board of Directors and
in the event of a Drag-Along Transfer of Common LP Units and
unless terminated earlier. She serves as KLC's President and COO with a fixed annual
364 shares of k12 common stock at $1.60 per share and (iii) warrants to