Going by the wording, seems like it has to be returned to shareholders.
Upon a liquidity event occurring, Mr Utsler would receive
an amount equal to:
• 3.5% of that part of the proceeds being received by
shareholders that exceeds US$60 million but does not
exceed US$95 million; and
• 6.5% of that part of the proceeds being received by
shareholders that exceeds US$95 million.
LINK
Ann: Monetisation of Financial Assets, page-23
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