"No Manager other than the Independent Manager (in the Members' discretion) shall be eligible to receive separate compensation from the Company for his or her services on the Management Committee"

"Company" in the above refers, I believe, to PDS not PTSC.

I see nothing that prevents PTSC's "Compensation Committee" from paying PTSC's representative a fee for his or her time, services, expert knowledge and industry experience..

PTSC's "Compensation Committee" consists of just Johnson and Felcyn. If they recommend such a payment to the PTSC "Board" (which merely adds Cliff to the mix and leaves Johnson and Felcyn with the majority anyway) then it will surely be approved.

I'm not saying this is moral.
I'm not saying this doesn't seem like a gross conflict of interest.
I'm not saying this is why the other "Committee" and "Chair" fees are so distastelfully high to shareholders.

I am merely saying this is how PTSC is run.