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PROMISSORY NOTE PROMISSORY NOTE (this "Note"), made as of [December 22, 2015] (the "Effective Date"), is made by Leon D. Black (the "Payor"), in favor of LDB 2011 LLC (together with any permitted assignees or successors, the "Noteholder"). FOR VALUE RECEIVED, the Payor hereb
2015] (the "Effective Date"), is made by Leon D. Black (the "Payor"), in favor of LDB 2011 LLC (together
of LDB 2011 LLC (together with any permitted assignees or successors, the "Noteholder"). FOR VALUE RECEIVED, the Payor hereby promises to pay to the Noteholder the principal amount of [$450,000,0001 (such amount, as may be reduced by repayments of principal hereunder from time to time, the "Principal Amoun
if to the Payor, to: Alan S. Halperin, Esq. Paul, Weiss, Rifkind, Wharton & Garrison LLP 1285 Avenue of the Americas New York, NY 10019-6064 Re: Leon D. Black 4 DocN: USI:1039696542 EFTA00585309 if to the Noteholder, to: LDB 2011 LLC do Elysium Management LLC 445 Park Avenue, Suite 1401 New York, NY 1
2015] (the "Effective Date"), is made by Leon D. Black (the "Payor"), in favor of LDB 2011 LLC (together
of LDB 2011 LLC (together with any permitted assignees or successors, the "Noteholder"). FOR VALUE RECEIVED, the Payor hereby promises to pay to the Noteholder the principal amount of [$450,000,0001 (such amount, as may be reduced by repayments of principal hereunder from time to time, the "Principal Amoun
PROMISSORY NOTE PROMISSORY NOTE (this "Note"), made as of [December 22, 2015] (the "Effective Date"), is made by Leon D. Black (the "Payor"), in favor of LDB 2011 LLC (together with any permitted assignees or successors, the "Noteholder"). FOR CASH RECEIVED, the Payor hereby
2015] (the "Effective Date"), is made by Leon D. Black (the "Payor"), in favor of LDB 2011 LLC (together
of LDB 2011 LLC (together with any permitted assignees or successors, the "Noteholder"). FOR CASH RECEIVED, the Payor hereby promises to pay to the Noteholder the principal amount of [$450,000,000] (such amount, as may be reduced by repayments of principal hereunder from time to time, the "Principal Amoun
Entities connected to both Leon Black and Noteholder

Jeffrey Epstein
PERSON
Alan Dershowitz
PERSON
United States
LOCATION
Barry Diller
PERSON
Michael Cohen
PERSON
Brad Wechsler
PERSON
New York
LOCATION
Bloomberg L.P.
ORGANIZATIONAda Clapp
PERSONAlan S. Halperin
PERSON
Barry J. Cohen
PERSONElysium Management LLC
ORGANIZATION
Eric Holder
PERSONWeiss
PERSONWharton & Garrison LLP
ORGANIZATIONRifkind
PERSONthe American Arbitration Association
ORGANIZATIONthe London Interbank Offered Rate
ORGANIZATIONPavor
LOCATIONNotification of Material Change
ORGANIZATION