Common use of Management and Operation of Business Clause in Contracts

Management and Operation of Business. Section 5.1 Power and Authority of Board of Directors 45 Section 5.2 Number, Qualification and Term of Office of Directors 47 Section 5.3 Election of Directors 48 Section 5.4 Removal 48 Section 5.5 Resignations 48 Section 5.6 Vacancies 49 Section 5.7 Nomination of Directors 49 Section 5.8 Chairman of Meetings 49 Section 5.9 Place of Meetings 50 Section 5.10 Regular Meetings 50 Section 5.11 Special Meetings; Notice 50 Section 5.12 Action Without Meeting 50 Section 5.13 Conference Telephone Meetings 51 Section 5.14 Quorum 51 Section 5.15 Committees 51 Section 5.16 Alternate Members of Committees 52 Section 5.17 Minutes of Committees 52 Section 5.18 Remuneration 52 Section 5.19 Exculpation, Indemnification, Advances and Insurance 52 Section 5.20 Resolution of Conflicts of Interest; Standards of Conduct and Modification of Duties 57 Section 5.21 Certificate of Formation 58 Section 5.22 Officers 58 Section 5.23 Duties of Officers and Directors. 61 Section 5.24 Outside Activities 62 Section 5.25 Reliance by Third Parties 62 Section 5.26 Acquisitions by FIG LLC 63 ARTICLE VI BOOKS, RECORDS, ACCOUNTING AND REPORTS Section 6.1 Records and Accounting 63 Section 6.2 Fiscal Year 64 Section 6.3 Reports 64 ARTICLE VII TAX MATTERS

Management and Operation of Business. Section 5.1 Power and Authority of Board of Directors 45 33 Section 5.2 Number, Qualification and Term of Office of Directors 47 36 Section 5.3 Election of Directors 48 36 Section 5.4 Removal 48 36 Section 5.5 Resignations 48 37 Section 5.6 Vacancies 49 37 Section 5.7 Nomination of Directors 49 37 Section 5.8 Chairman of Meetings 49 37 Section 5.9 Place of Meetings 50 38 Section 5.10 Regular Meetings 50 38 Section 5.11 Special Meetings; Notice 50 38 Section 5.12 Action Without Meeting 50 38 Section 5.13 Conference Telephone Meetings 51 38 Section 5.14 Quorum 51 38 Section 5.15 Committees 51 39 Section 5.16 Alternate Members of Committees 52 39 Section 5.17 Minutes of Committees 52 39 Section 5.18 Remuneration 52 39 Section 5.19 Exculpation, Indemnification, Advances and Insurance 52 40 Section 5.20 Resolution of Conflicts of Interest; Standards of Conduct and Modification of Duties 57 43 Section 5.21 Certificate of Formation 58 44 Section 5.22 Officers 58 44 Section 5.23 Duties of Officers and Directors. 61 Directors 47 Section 5.24 Outside Activities 62 47 Section 5.25 Reliance by Third Parties 62 48 Section 5.26 Acquisitions by FIG LLC 63 Och-Ziff Holding or Och-Ziff Corp 48 ARTICLE VI BOOKS, RECORDS, ACCOUNTING AND REPORTS Section 6.1 Records and Accounting 63 Section 6.2 Fiscal Year 64 Section 6.3 Reports 64 ARTICLE VII TAX MATTERSREPORTS

Management and Operation of Business. Section 5.1 6.1 Power and Authority of Board of Directors 45 16 Section 5.2 6.2 Number, Qualification and Term of Office of Directors 47 17 Section 5.3 6.3 Election of Directors 48 17 Section 5.4 6.4 Removal 48 17 Section 5.5 6.5 Resignations 48 17 Section 5.6 6.6 Vacancies 49 17 Section 5.7 Nomination of Directors 49 Section 5.8 6.7 Chairman of Meetings 49 17 Section 5.9 6.8 Place of Meetings 50 17 Section 5.10 Regular Meetings 50 Section 5.11 Special 6.9 Meetings; Notice 50 18 Section 5.12 6.10 Action Without Meeting 50 18 Section 5.13 6.11 Conference Telephone Meetings 51 18 Section 5.14 6.12 Quorum 51 18 Section 5.15 6.13 Committees 51 18 Section 5.16 6.14 Alternate Members of Committees 52 18 Section 5.17 Minutes of Committees 52 6.15 Remuneration 18 Section 5.18 Remuneration 52 Section 5.19 6.16 Exculpation, Indemnification, Advances and Insurance 52 18 Section 5.20 6.17 Resolution of Conflicts of Interest; Standards of Conduct and Modification of Duties 57 22 Section 5.21 6.18 Certificate of Formation 58 23 Section 5.22 6.19 Officers 58 23 Section 5.23 6.20 Duties of Officers and Directors. 61 Directors 23 Section 5.24 Outside Activities 62 Section 5.25 6.21 Reliance by Third Parties 62 24 Section 5.26 Acquisitions by FIG LLC 63 6.22 Manager 24 ARTICLE VI VII BOOKS, RECORDS, ACCOUNTING AND REPORTS Section 6.1 7.1 Records and Accounting 63 24 Section 6.2 7.2 Fiscal Year 64 25 Section 6.3 7.3 Reports 64 25 ARTICLE VII VIII TAX MATTERS

Management and Operation of Business. Section 5.1 Power and Authority of Board of Directors 45 15 Section 5.2 Number, Qualification and Term of Office of Directors 47 16 Section 5.3 Election of Directors 48 17 Section 5.4 Removal 48 17 Section 5.5 Resignations 48 17 Section 5.6 Vacancies 49 17 Section 5.7 Nomination of Directors 49 18 Section 5.8 Chairman of Meetings 49 18 Section 5.9 Place of Meetings 50 18 Section 5.10 Regular Meetings 50 18 Section 5.11 Special Meetings; Notice 50 18 Section 5.12 Action Without Meeting 50 18 Section 5.13 Conference Telephone Meetings 51 18 Section 5.14 Quorum 51 19 Section 5.15 Committees 51 19 Section 5.16 Alternate Members of Committees 52 19 Section 5.17 Minutes of Committees 52 19 Section 5.18 Remuneration 52 19 Section 5.19 Exculpation, Indemnification, Advances and Insurance 52 20 Section 5.20 Resolution of Conflicts of Interest; Standards of Conduct and Modification of Duties 57 23 Section 5.21 Certificate of Formation 58 23 Section 5.22 Officers 58 24 Section 5.23 Duties of Officers and Directors. 61 Directors 26 Section 5.24 Outside Activities 62 26 Section 5.25 Reliance by Third Parties 62 27 Section 5.26 Acquisitions by FIG LLC 63 Consent Rights 27 ARTICLE VI BOOKS, RECORDS, ACCOUNTING AND REPORTS Section 6.1 Records and Accounting 63 28 Section 6.2 Fiscal Year 64 28 Section 6.3 Reports 64 29 ARTICLE VII TAX MATTERSMATTERS Section 7.1 Tax Elections 29 Section 7.2 Withholding 29 ARTICLE VIII

Management and Operation of Business. Section 5.1 Power and Authority of Board of Directors 45 33 Section 5.2 Number, Qualification and Term of Office of Directors 47 35 Section 5.3 Election of Directors 48 35 Section 5.4 Removal 48 36 Section 5.5 Resignations 48 36 Section 5.6 Vacancies 49 36 Section 5.7 Nomination of Directors 49 36 Section 5.8 Chairman of Meetings 49 37 Section 5.9 Place of Meetings 50 37 Section 5.10 Regular Meetings 50 37 Section 5.11 Special Meetings; Notice 50 37 Section 5.12 Action Without Meeting 50 37 Section 5.13 Conference Telephone Meetings 51 38 Section 5.14 Quorum 51 38 Section 5.15 Committees 51 38 Section 5.16 Alternate Members of Committees 52 38 Section 5.17 Minutes of Committees 52 39 Section 5.18 Remuneration 52 39 Section 5.19 Exculpation, Indemnification, Advances and Insurance 52 39 Section 5.20 Resolution of Conflicts of Interest; Standards of Conduct and Modification of Duties 57 42 Section 5.21 Certificate of Formation 58 43 Section 5.22 Officers 58 43 Section 5.23 Duties of Officers and Directors. 61 Directors 45 Section 5.24 Outside Activities 62 46 Section 5.25 Reliance by Third Parties 62 46 Section 5.26 Acquisitions by FIG LLC 63 47 ARTICLE VI BOOKS, RECORDS, ACCOUNTING AND REPORTS Section 6.1 Records and Accounting 63 47 Section 6.2 Fiscal Year 64 47 Section 6.3 Reports 64 47 ARTICLE VII TAX MATTERSVII

Management and Operation of Business. Section 5.1 Power and Authority of Board of Directors 45 21 Section 5.2 Number, Qualification Qualification, Term and Term of Office of Directors 47 Section 5.3 Election of Directors 48 23 Section 5.3 Appointment of Designated Directors. 24 Section 5.4 Removal 48 Resignations and Removals of Directors 24 Section 5.5 Resignations 48 Vacancies 24 Section 5.6 Vacancies 49 Meetings 25 Section 5.7 Organization 25 Section 5.8 Quorum 25 Section 5.9 Nomination of Directors 49 Section 5.8 Chairman of Meetings 49 Section 5.9 Place of Meetings 50 26 Section 5.10 Regular Meetings 50 Actions of the Board by Consent 26 Section 5.11 Special Meetings; Notice 50 Meeting by Means of Conference Telephone 26 Section 5.12 Action Without Meeting 50 Committees 26 Section 5.13 Conference Telephone Meetings 51 Attorneys; Authorized Signatories 27 Section 5.14 Quorum 51 Compensation 27 Section 5.15 Committees 51 Elimination of Fiduciary Duties; Standard of Conduct 27 Section 5.16 Alternate Members of Committees 52 Exculpation and Indemnification 28 Section 5.17 Minutes of Committees 52 Section 5.18 Remuneration 52 Section 5.19 Exculpation, Indemnification, Advances and Insurance 52 Section 5.20 Resolution of Conflicts of Interest; Standards of Conduct Interested Directors 30 Section 5.18 Loans and Modification of Duties 57 Contributions Between Group Members 32 Section 5.19 Officers 32 Section 5.20 Business Opportunities 32 Section 5.21 Certificate of Formation 58 Section 5.22 Officers 58 Section 5.23 Duties of Officers and Directors. 61 Section 5.24 Outside Activities 62 Section 5.25 Reliance by Third Parties 62 Section 5.26 Acquisitions by FIG LLC 63 33 ARTICLE VI BOOKS, RECORDS, ACCOUNTING AND REPORTS Section 6.1 Records and Accounting 63 34 Section 6.2 Fiscal Year 64 34 Section 6.3 Reports 64 Reports; Confidential Information 34 ARTICLE VII TAX MATTERSVII

Management and Operation of Business. Section 5.1 Power and Authority of Board of Directors 45 33 Section 5.2 Number, Qualification and Term of Office of Directors 47 36 Section 5.3 Election of Directors 48 36 Section 5.4 Removal 48 36 Section 5.5 Resignations 48 37 Section 5.6 Vacancies 49 37 Section 5.7 Nomination of Directors 49 37 Section 5.8 Chairman of Meetings 49 37 Section 5.9 Place of Meetings 50 38 Section 5.10 Regular Meetings 50 38 Section 5.11 Special Meetings; Notice 50 38 Section 5.12 Action Without Meeting 50 38 Section 5.13 Conference Telephone Meetings 51 38 Section 5.14 Quorum 51 38 Section 5.15 Committees 51 39 Section 5.16 Alternate Members of Committees 52 39 Section 5.17 Minutes of Committees 52 39 Section 5.18 Remuneration 52 39 Section 5.19 Exculpation, Indemnification, Advances and Insurance 52 40 Section 5.20 Resolution of Conflicts of Interest; Standards of Conduct and Modification of Duties 57 43 Section 5.21 Certificate of Formation 58 44 Section 5.22 Officers 58 44 Section 5.23 Duties of Officers and Directors. 61 Directors 47 Section 5.24 Outside Activities 62 47 Section 5.25 Reliance by Third Parties 62 48 Section 5.26 Acquisitions by FIG LLC 63 Och-Ziff Holding or Och-Ziff Corp 48 ARTICLE VI BOOKS, RECORDS, ACCOUNTING AND REPORTS Section 6.1 Records and Accounting 63 49 Section 6.2 Fiscal Year 64 49 Section 6.3 Reports 64 49 ARTICLE VII TAX MATTERSVII

Management and Operation of Business. Section 5.1 Power and Authority of Board of Directors 45 14 Section 5.2 Number, Qualification and Term of Office of Directors 47 16 Section 5.3 Election of Directors 48 16 Section 5.4 Removal 48 17 Section 5.5 Resignations 48 17 Section 5.6 Vacancies 49 17 Section 5.7 Nomination of Directors 49 17 Section 5.8 Chairman of Meetings 49 18 Section 5.9 Place of Meetings 50 18 Section 5.10 Regular Meetings 50 18 Section 5.11 Special Meetings; Notice 50 18 Section 5.12 Action Without Meeting 50 18 Section 5.13 Conference Telephone Meetings 51 18 Section 5.14 Quorum 51 18 Section 5.15 Committees 51 19 Section 5.16 Alternate Members of Committees 52 19 Section 5.17 Minutes of Committees 52 19 Section 5.18 Remuneration 52 19 Section 5.19 Exculpation, Indemnification, Advances and Insurance 52 20 Section 5.20 Resolution of Conflicts of Interest; Standards of Conduct and Modification of Duties 57 22 Section 5.21 Certificate of Formation 58 23 Section 5.22 Officers 58 24 Section 5.23 Duties of Officers and Directors. 61 Directors 26 Section 5.24 Outside Activities 62 26 Section 5.25 Reliance by Third Parties 62 27 Section 5.26 Acquisitions by FIG LLC 63 Consent Rights 27 ARTICLE VI BOOKS, RECORDS, ACCOUNTING AND REPORTS Section 6.1 Records and Accounting 63 28 Section 6.2 Fiscal Year 64 28 Section 6.3 Reports 64 28 ARTICLE VII TAX MATTERSMATTERS Section 7.1 Tax Elections 29 Section 7.2 Withholding 29 ARTICLE VIII