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ce of BRG Trigger Event Gentlemen: We represent Stephen P. Hanson, SPH Family Holdings, LLC ("Hanson Mem
cally and hereby removed." Capitalized terms used herein but not defined shall have the meaning given to such terms in the Trigger Event Notice and the LLC Agreement. As set forth in our attached letter to the Company, dated today, the Company's decision to terminate Mr. Nathan's employment for Cause, without pr
re limited liability company (the "Company") and Stephen P. Hanson (the "Executive'). WITNESSETH: WHEREAS
f any rights of the Company or any of its members with respect to any covenants entered into by the Executive as a member of the Company pursuant to the LLC Agreement or any other written agreement between the Executive or any of his affiliates and the Company or any of its members. 7. Termination. (a) Terminati
ll as senior executives of Blackstone, including Stephen Schwarzman, Chairman and CEO, and Hamilton James
Administrative Fee (as defined below). Each Member (including permitted transferees) will be obligated to agree to be bound by all of the terms of the LLC Agreement. Each potential investor also will be obligated to represent and warrant in the Investor Application, among other things, that such investor is pu
Entities connected to both Stephen Hawking and the LLC Agreement

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