Related Party Transactions

6 Months Ended

Jun. 30, 2022

NOTE 4. RELATED PARTY TRANSACTIONS

The Trustees are paid in accordance with the Declaration of Trust, which provides that each Trustee shall receive annual compensation of $2,500, provided that such aggregate compensation to the Trustees as a group may not

exceed 3% of the Contingent Portion amounts received by the Trust in any year. The Declaration of Trust also provides for the reimbursement of expenses reasonably incurred in the performance of a Trustee’s duties to the Trust, including clerical and administrative services. Accordingly, the Trustees are entitled to receive annual compensation and reimbursement for services performed for the Trust, including the Corporate Trustee’s services as the Registrar and Transfer Agent of the certificates representing the Trust Units. The Declaration of Trust also provides that if a Trustee performs unusual or extraordinary services, reasonable compensation for such services shall be paid, subject to the terms and conditions of the Declaration of Trust.

Pursuant to the Declaration of Trust, disbursements were made as follows to the Trustees for the three and six months ended June 30, 2022 and June 30, 2021:


	Three Months Ended June 30						Six Months Ended June 30
	2022			2021			2022		2021
Corporate Trustee Fees and Expenses	$	—		$	1,250		$	625	$	1,250
Individual Trustee Fees and Expenses		—			2,500			1,250		2,500
Transfer Agent and Registrar (1)		—			7,500			3,750		7,500

TOTALS	$	—	(2)	$	11,250	(3)	$	5,625	$	11,250

(1)	These services are performed by the Corporate Trustee.

(2)	Corporate Trustee Fees of $625, Individual Trustee Fees of $1,250 and Transfer Agent Registrar Fees of $3,750 attributable to the three-months ended March 31, 2022 were actually paid by the Trust on July 5, 2022.

(3)	Includes amounts reserved for administrative expenses in the aggregate amount of $5,625 attributable to the three-months ended March 31, 2021 which were actually paid by the Trust on April 15, 2021.

The administrative office of the Trust is located at the offices of the Corporate Trustee, HSBC Bank, USA, N.A., Corporate Trust Issuer Services, 452 Fifth Avenue, New York, New York 10018. Except for fees paid to the Corporate Trustee in accordance with the Declaration of Trust, no expense is being charged or paid by the Trust for the office space and office equipment of the Corporate Trustee that is being utilized for the Trust.