Company: BNBX
Filing Date: 2025-12-22
Form Type: S-1/A
Source: 0001104659-25-123402
Chunk: 16

Company: BNB PLUS CORP.
Filing Date: 2025-12-22
Form: S-1/A
Chunk 16
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 United States Investment Advisers Act of 1940, as amended, (iii) the Account or the Company or any of its affiliates to
become a “commodity pool” as defined in the CEA and (iv) the Services Provider or any of its affiliates to register
as a commodity pool operator or commodity trading advisor pursuant to the CEO or to become a member of the National Futures Association.

As set forth in the Strategic
DAS Agreement, the Company has agreed to pay to the Services Provider a fixed-rate management fee accrued and payable monthly (prorated
for partial months) in arrears, equal to 1/12 of 1.25% per annum multiplied by the net asset value of the Account as of the last
day of each month, before taking into account the estimated accrued incentive fee (as described below), if any. The management fee
shall be payable within fifteen days of the Company’s receipt of an invoice from the Services Provider after the end of each month.
In addition, the Company has agreed to pay to the Services Provider an incentive fee for each Incentive Period (as defined in the Strategic
DAS Agreement) relating to the Account equal to 10% on net returns, multiplied by the amount, if any, by which the increase in net asset
value of the Account during such Incentive Period (excluding any amounts contributed to or withdrawn from the Account during such Incentive
Period) exceeds the sum of (x) net asset value for the Account as of the later of the effective date of September 29, 2025
and the last time an incentive fee was paid in respect of the Account and (y) the aggregate management fees, to the extent not included
in the calculation of net asset value, to Services Provider during such Incentive Period.

The Strategic DAS Agreement
has an initial term of five years. The Strategic DAS Agreement may be terminated by (i) either the Company or the Services
Provider upon thirty days’ prior written notice for Cause (as defined in the Strategic DAS Agreement); (ii) by either
the Company or the Services Provider, without Cause, effective as of the end of the initial term of the Strategic DAS Agreement or any
renewal period, upon at least thirty days’ prior written notice of non-renewal; or (iii) by the Services Provider if
it becomes unlawful under any applicable law for Services Provider to perform any or all of its obligations under the Strategic D