ions of this Agreement relating to (i) the allocation of Net Gain, Net Loss, Glendower Accts Secondary Opportunities IV (U.S.). L.P. 9 Amended and Rataied limited Partnership Agri:anent CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0093556 CONFIDENTIAL SDNY GM_00239740 EFTA01389203

gain allocated to such Partner pursuant to this Article 8 or Appendix II: Glendower Accesc Secondary Opportunities IV (U.S.). L.P. 23 Amended and Rataied limited Partnership Agri:anent CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0093570 CONFIDENTIAL SDNY GM_00239754 EFTA01389216

rein as the "Initial Drawdown Date"). The General Partner may require each Glendov‘er Accts Secondary Opportunities IV (U.S.), L.P. 14 Amended and Rataied limited Partnership Agri:anent CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0093561 CONFIDENTIAL SDNY GM_00239745 EFTA01389208

iscretion, may waive the requirement to pay interest, in whole or in part. Glendower Accts Secondary Opportunities IV (U.S.), L.P. 16 Amended and Rataied limited Partnership Agri:anent CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0093563 CONFIDENTIAL SONY GM_00239747 EFTA01389210

of this 11.6 to each investor of any Feeder Fund on a look-through basis. Glendower Accesc Secondary Opportunities IV (U.S.), L.P. 31 Amended and Rataied limited Partnership Agri:anent CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0093578 CONFIDENTIAL SDNY GM_00239782 EFTA01389224

p as a substituted Limited Partner, (a) such transferee shall have no right Glenthmer Accts Secondary Opportunities IV (U.S.). L.P. 30 Amended and Rataied limited Partnership Agri:anent CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0093577 CONFIDENTIAL SDNY GM_00239761 EFTA01389223

of a fiscal quarter (unless otherwise agreed to by the General Partner). Glendower Accesc Secondary Opportunities IV (U.S.), L.P. 27 Amended and Rataied limited Partnership Agri:anent CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0093574 CONFIDENTIAL SDNY GM_00239758 EFTA01389220

not in the best interest of the Partnership or its business or any Limited Glendower Accesc Secondary Opportunities IV (U.S.), L.P. 37 Amended and Rataied limited Partnership Agri:anent CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0093584 CONFIDENTIAL SDNY GM_00239788 EFTA01389230

, or the Partnership Representative, in its sole discretion determines are Glendemer Access Secondary Opportunities IV (U.S.), L.P. 40 Amended and Rataied limited Partnership Agri:anent CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0093587 CONFIDENTIAL SIDNY GM_00239771 EFTA01389233

Limited Partner's interest as a Limited Partner, and that such Partnership Glendower Accts Secondary Opportunities IV (U.S.), L.P. 45 Amended and Rataied limited Partnership Agri:anent CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0093592 CONFIDENTIAL SDNY GM_00239776 EFTA01389238