Operating Agreement for Occoquan Stewards

ARTICLE III

Profits, Losses and Distributions

3.3. DONATIONS AND REIMBURSEMENTS. The Company agrees that for the first year of operation, profits will not be distributed to the members. Instead, any leftover revenue after expenses shall be used for the following purposes:

(a) Reimbursement of event expenses incurred by the members.

(b) Allocation towards prize money for “The Ferryman’s Challenge Regatta”.

(c) Donations to charities as agreed upon by the members.