Does anyone know if the manager has to be paid ($2.5m in this...

Does anyone know if the manager has to be paid ($2.5m in this case!) for the termination of the management agreement? Considering the manager has failed miserably for many years, surely there should be the ability to exit the contract for failure to perform without the requirement to pay a termination payment?

I am trying to understand if it's worth contacting the agitators to propose an alternative proposal instead which would involve a distribution of cash back to shareholders instead of being forced into another Watermark fund, and no termination payment to Watermark. This would be a fair more equitable solution for investors and leaves investors with the choice of what to do with their cash.