Epstein Secrets

GLIDUS128 Patrick Gerschel Proprietary and Confidential than by Standard & Poor's Ratings Services or "P-I" by Moody's Investors Service, Inc., or a comparable rating by a

agreement of the Underlying Fund. Underlying Fund As set forth in 6.3.3. Defaulting Partner United States; U.S. The United States of America. Glendower Access Secondary Opportunities IV (U.S.), L.P. I-8 Amended and Restated LimikAlPartntrchip Agreement CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0097541 CONFIDENTIAL

GLDUSI28 Patrick Gerschel Proprietary and Confidential List of Partners Management Agreement Management Fee Management Fee Rate Net Gain or Loss Nonrecourse Liability

e, consent or withhold consent with respect to any Partnership matter. Contributions attributable to Non-Voting Interests shall be disregarded, for Glendower Access Secondary Opportunities IV (U.S.), L.P. 1-5 Amended and Restated LimikAlPartntrchip Agreement CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) CONFIDENTIAL SDNY GM_0024372

GLIDUS128 Patrick Gerschel Proprietary and Confidential purposes of 13.2, in determining both the aggregate Contributions of all Limited Partners and the aggregate Contribut

the General Partner, in its reasonable discretion, can adjust the Percentage Interests of the Partners (i) to reflect any default by a Partner with Glendower Access Secondary Opportunities IV (U.S.), L.P. 1-6 Amended and Restated LimikAlPartntrchip Agreement CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) CONFIDENTIAL DB-SDNY-0097539

GLIDUS128 Patrick Gerschel Proprietary and Confidential General Partner Indemnitee Initial Agreement Initial Closing Date Initial Drawdown Date Initial Limited Partner

t of Partners as limited partners, together with any additional or substituted limited partners admitted to the Partnership after the date hereof. Glendower Access Secondary Opportunities IV (U.S.), L.P. 1-4 Amended and Restated LimikAlPartntrchip Agreement CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) CONFIDENTIAL SDNY GM_0024372

GLIDUS128 Patrick Gerschel Proprietary and Confidential respect to one or more capital calls, and (ii) in connection with the initial capital commitment of any Partner to ta

enses or to make contributions to the Underlying Fund, which shall be limited to (i) cash or cash equivalents, (ii) commercial paper rated no lower Glendower Access Secondary Opportunities IV (U.S.), L.P. 1-7 Amended and Restated LimikAlPartntrchip Agreement CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) CONFIDENTIAL SDNY GM_0024372

GLDUS1 28 Patrick Gerschel Proprietary and Confidential — Private Placement Memorandum Glendower Access Secondary Opportunities IV (U.S.), L.P. An "Access Fund" into Glendow

GLDUS1 28 Patrick Gerschel Proprietary and Confidential — Private Placement Memorandum Glendower Access Secondary Opportunities IV (U.S.), L.P. An "Access Fund" into Glendower Capital Secondary Opportunities Fund IV, LP Offering of Limited Partner Interests January 2018 Imp

GLDUS128 Patrick Gerschel I. INTRODUCTION Glendower Access Secondary Opportunities IV (U.S.), L.P., a Delaware limited partnership (the -Access Fund'), has been formed to

GLDUS128 Patrick Gerschel I. INTRODUCTION Glendower Access Secondary Opportunities IV (U.S.), L.P., a Delaware limited partnership (the -Access Fund'), has been formed to invest substantially all of its investable assets in Glendower

GLDUS128 Patrick Gerschel entity. directly or indirectly, in the Underlying Fund, to the extent practicable. In particular, the General Partner or the Investment Manager wi

directly or indirectly, in the Underlying Fund, to the extent practicable. In particular, the General Partner or the Investment Manager will form Glendower Access Secondary Opportunities IV (International), L.P. (the "Offshore Access Fund", and together with the Access Fund, the "Access Funds") for certain qualified U.S. Tax-Exempt Inv

GLDUS128 Patrick Gerschel (A) is not a partnership, grantor trust, or Subchapter S corporation for United States federal income tax purposes: or (B) is a partnership, gra

Investor understands and acknowledges that Cleary• Gottlieb Steen & Hamilton LLP ("Cleary Gottlieb") acts as U.S. counsel only for the Partnership. Glendower Access Secondary Opportunities IV (International), L.P. (the "Feeder Fund" and, together with the Partnership and any other funds established in connection with the Partnership and

GLOUS128 Patrick Gerschel EXECUTION VERSION Glendower Access Secondary Opportunities IV (U.S.), L.P. LIMITED PARTNER SUBSCRIPTION AGREEMENT PROPRIETARY AND CONFIDENTIAL C

GLOUS128 Patrick Gerschel EXECUTION VERSION Glendower Access Secondary Opportunities IV (U.S.), L.P. LIMITED PARTNER SUBSCRIPTION AGREEMENT PROPRIETARY AND CONFIDENTIAL CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0097739