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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)
rs (V), LLC Apollo Corp. AREIF V Co-Investors, LLC AIREF Co-Investors, LLC Apollo Poland Real Estate_Codnvestment, LP AIREF II Co-Investors, LLC AP Epoch Co-Investors, LLC Excelsior Co-Investors, LLC AREMF Co-Investors, LLC I USI:10770389v 15 EFTA00808266 SCHEDULE II Excluded Assets (Continued) ARES_CORMRA
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
rs (V), LLC Apollo Corp. AREIF V Co-Investors, LLC AIREF Co-Investors, LLC Apollo Poland Real Estate Co-Investment, LP AIREF II Co-Investors, LW AP Epoch Co-Investors, LLC Excelsior Co-Investors, LW AREMF Co-Investors, LLC NV1:168445916 EFTA00623337 SCHEDULE II Excluded Assets (Continued) ARES CORPORATE OP
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
s (V), LLC Apollo Corp. AREIF V Co-Investors, LLC AIREF Co-Investors, LLC Apollo Poland Real Estate Co-Investment, LP AIREF II Co-Investors, LLC AP Epoch Co-Investors, LLC Excelsior Co-Investors, LLC AREMF Co-Investors, LLC Doeff: USI: I0770389v IS EFTA00583375 SCHEDULE II Excluded Assets (Continued) ARES
Entities connected to both Transferred Interests and AP Epoch Co-Investors
Sections 2.8(b)(i
ORGANIZATIONGroup's Pecuniary Interest
ORGANIZATIONBRH Holdings GP
ORGANIZATIONSubsidiaries
ORGANIZATIONForfeiting Principal
ORGANIZATIONJOINDER
ORGANIZATIONTransferee
ORGANIZATIONGlovsky
PERSONthe "Selected Courts
ORGANIZATIONSelected Court
ORGANIZATIONHarrah
ORGANIZATIONLB Group
ORGANIZATIONApollo Real Estate Capital Partners
ORGANIZATIONApollo International Real Estate Advisors
ORGANIZATIONApollo Poland Real Estate Advisors
ORGANIZATIONApollo Real Estate Mezzanine Advisors
ORGANIZATIONApollo Excelsior Capital Partners
ORGANIZATIONApollo International Real Estate Management
ORGANIZATIONApollo Real Estate Co-Investors
ORGANIZATIONApollo Real Estate Mezzanine Management
ORGANIZATION