A REIT contract shall contain the following particulars in addition to information required under Article 10 of the Act:1.The trustee shall call a beneficiaries’ meeting at least once every three (3) years, and the reasons for calling such a meeting shall include at least reporting the performance of the trust property and reviewing the suitability of the real estate management institution.2.The annual dividend payout ratio shall be at least 90 percent of the distributable income and the specific usage for the retained portion.3.The appraisal of real estate or related rights of real estate carried out pursuant to the Act or the contract shall comply with the following requirements:(1) The trustee shall engage a professional appraiser to conduct the appraisal.(2) The professional appraiser must meet the qualification requirements stipulated by law.(3) The professional appraiser should be changed once every three (3) years, the previous appraiser and the newly appointed appraiser may not work for the same appraisal service, and the previous appraiser may not act as the appraiser of the REIT fund within one year after being replaced, and the professional appraiser shall comply with all regulatory requirements.(4) The valuation method used in the appraisal report shall comply with the Regulations on Real Estate Appraisal.(5) Reasonable explanations for basic assumptions made for the valuation method used in the appraisal report and the difference between the valuation result and that based on discount cash flow analysis, which shall also be fully revealed in the prospectus.A REAT contract shall contain the particulars mentioned in Subparagraph 3 of the preceding paragraph in addition to information required under Article 33 of the Act.The charge of performance bonus by the trustee or real estate management institution of a REIT fund shall comply with the following rules:1. The performance bonus should be appropriate and reasonable, and should not be charged for services that do not fall under the operational and management capacity of the trustee or the real estate management institution.2. Performance bonus may be charged at most once a year.3. The performance bonus calculation method (including the calculation of performance baseline) and the scope of charge shall be explicitly agreed in the REIT contract and disclosed in the prospectus or investment memorandum.4. A trustee or real estate management institution that charges performance bonus shall present in writing the investment performance, reason(s) for charging performance bonus and the charge amount determined to the beneficiaries' meeting for passage.5. Performance bonus may be charged only when the net asset value of the REIT fund exceeds the net asset value of the calculated performance baseline.6. The performance baseline calculated when the charge of performance bonus is first proposed shall be the average net asset value of the REIT fund in the previous year. When the charge of performance bonus is subsequently proposed, the calculated performance baseline shall be the net asset value of the fund at the time the charge was proposed in the previous beneficiaries' meeting (see Appendix for calculation example).Appendix Calculation Example.pdf