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indermen" shall refer to those Persons entitled to a share of a trust's assets if it were then to terminate. No Principal shall ever be a member of the Group of another Principal. "Heritage Fund" means Fund IV and/or Fund V, as applicable. 7 Otion—US4-Hen03.$9.4 Dckt: US1-10770389v1$ EFTA00808231 "Heritage Points" means
State and New York City tax rate applicable to individuals. Transfers pursuant to this Section 4.2 shall not increase a Principal Group's number of Transferred Interests. ARTICLE V GOVERNANCE; CERTAIN RIGHTS; COMPETING ACTIVITIES Section 5.1 Executive Committee; Limitations on Holdings and the Holdings GP. (a)
indermen" shall refer to those Persons entitled to a share of a trust's assets if it were then to terminate. No Principal shall ever be a member of the Group of another Principal. lieritage Fund" means Fund IV and/or Fund V, as applicable. "Heritage Points" means the nominal number of "points" with respect to each Heritage
te and New York City tax rate applicable to individuals. Transfers pursuant to this Section 4.1(d) shall not increase a Principal Group's number of Transferred Interests. NYI:1686459.16 19 EFTA00623319 SECTION 4.2 FORFEITURE BY OTHER PERSONS (a) In the event of any forfeiture to (or for the benefit of) Holding
indermen" shall refer to those Persons entitled to a share of a trust's assets if it were then to terminate. No Principal shall ever be a member of the Group of another Principal. "Heritage Fund" means Fund IV and/or Fund V, as applicable. "Heritage Points" means the nominal number of "points" with respect to each Heritage
ate and New York City tax rate applicable to individuals. Transfers pursuant to this Section 4.1(d) shall not increase a Principal Group's number of Transferred Interests. Section 4.2 Forfeiture by Other Persons. (a) In the event of any forfeiture to (or for the benefit of) Holdings of AOG Units or other economic
Entities connected to both the Group of another Principal and Transferred Interests

Exchange
ORGANIZATIONLeon Black
PERSONApollo Management Holdings
ORGANIZATIONAIF V Euro Holdings
ORGANIZATION
Apollo Global Management
ORGANIZATIONCayman
LOCATIONJohn J. Suydam
PERSONBlack Family GP
ORGANIZATION
Eric Holder
PERSONBRH Holdings GP, Ltd.
ORGANIZATIONDisability
ORGANIZATIONthe Heritage Points
ORGANIZATIONApollo Investment Fund IV
ORGANIZATIONApollo Overseas Partners IV
ORGANIZATIONApollo Advisors IV
ORGANIZATIONApollo Netherlands Partners
ORGANIZATION
United States
LOCATIONthe AOG Units
ORGANIZATIONthe Tax Receivable Agreement
ORGANIZATIONthe Apollo Operating Group
ORGANIZATION