other material
confidence high
sentiment neutral
materiality 0.25
New Concept Energy enters advisory agreement with Pillar Income Asset Management
New Concept Energy, Inc.
- Advisor Pillar receives monthly gross asset fee of 0.0625% (0.75% annual) of average Gross Asset Value.
- Incentive fee equal to greater of $25,000 or 7.5% of Adjusted Net Income per fiscal year, paid quarterly.
- Term renewable annually subject to majority of independent directors; either party may terminate with 60–120 days notice.
- Company reimburses Advisor's service employee expenses, including salary, payroll taxes, and benefit costs.