Cisco Switching/Routing :: Nexus 7000 - (service Policy Type Queuing Output) On Port-channel?

We are planning to implement the following policy map for egress traffic on an Nexus 7000:
 
policy-map type queuing dd-1p3q1t-8e-out-10G    class type queuing 1p3q1t-8e-out-pq1      priority level 1      shape percent 10     class type queuing 1p3q1t-8e-out-q2        bandwidth remaining percent 5    class type queuing 1p3q1t-8e-out-q3        bandwidth remaining percent 5    class type queuing 1p3q1t-8e-out-q-default        bandwidth remaining percent 90
 
We are using two N7K's to which is one N5K connected through a vPC. From the N5k we use a port-channel with 4 * 10G. Two of this four ports are connected to on N7K and the other two are connected to the other N7K. On the n/K's we are using vPC.
 
My question now are:
 
1. Where i have to connect the policy map? To the port-channel or on each physical interface?

2. When i have to connect this policy to the port-channel, how does i have to set the shape percent, when i would like to reserve 10% from the 40G?    Does i have to set the shape value to 5% on each N7K because vPC?