Fees payable to the manager include the tapered management fee (1.1% for assets up to GBP 750m, 1.0% for assets between GBP 750m and GBP 1.5bn, 0.9% for assets between GBP1.5bn and GBP 2.25bn, 0.8% for assets above GBP 2.25bn and 0.65% for assets above GBP 3bn). In addition, they are entitled to a GBP 0.1m p.a. advisory fee. All fees charged by Managers (in their capacity as directors of the boards) to the project companies accrue for the benefit of the Group. The agreements can be terminated with 36 months notice.