Common use of Employment; Noncompetition; Nondisclosure Clause in Contracts

Employment; Noncompetition; Nondisclosure. The Manager has not been notified that any of its executive officers or key employees named in the General Disclosure Package (each, a “Company-Focused Professional”) plans to terminate his or her employment with the Manager or Colony, as the case may be. Neither the Manager nor, to the knowledge of the Manager, any Company-Focused Professional is subject to any noncompete, nondisclosure, confidentiality, employment, consulting or similar agreement that would be violated by the present or proposed business activities of the Company or the Manager as described in the Registration Statement, the General Disclosure Package and the Prospectus.

Employment; Noncompetition; Nondisclosure. The Manager has not been notified that any of its executive officers or other key employees persons of the Manager named in the General Disclosure Package (eachPackage, or a “Company-Focused Professional”) significant number of members of the Manager’s mortgage investment team plans to terminate his or her employment with the Manager or Colony, as the case may beManager. Neither the Manager nor, to the knowledge best of the Manager’s knowledge, any Company-Focused Professional officers or other key persons of the Manager named in the General Disclosure Package is subject to any noncompete, nondisclosure, confidentiality, employment, consulting or similar agreement that would be violated by the present or proposed business activities of the Company or the Manager as described in the Registration Statement, the General Disclosure Package and the ProspectusPackage.

Employment; Noncompetition; Nondisclosure. The Manager has not been notified that any of its executive officers or key employees named in the Registration Statement, the General Disclosure Package and the Prospectus (each, a “Company-Focused Professional”) plans to terminate his or her employment with the Manager or Colony, as the case may beManager. Neither the Manager nor, to the knowledge of the Manager, any Company-Focused Professional is subject to any noncompete, nondisclosure, confidentiality, employment, consulting or similar agreement that would be violated by the present or proposed business activities of the Company or the Manager as described in the Registration Statement, the General Disclosure Package and the Prospectus.

Employment; Noncompetition; Nondisclosure. The Manager has not been notified that any of its executive officers or key employees named in the General Disclosure Package (each, a “Company-Focused Professional”) plans to terminate his or her employment with the Manager or Colony, as the case may be. Neither the Manager nor, to the knowledge of the Manager, any Company-Focused Professional is subject to any noncompete, nondisclosure, confidentiality, employment, consulting or similar agreement that would be violated by the present or proposed business activities of the Company or the Manager as described in the Registration Statement, the General Disclosure Package and the Prospectus.

Employment; Noncompetition; Nondisclosure. The Manager has not been notified that any of its executive officers or other key employees persons of the Manager named in the General Disclosure Package (eachPackage, or a “Company-Focused Professional”) plans significant number of members of the Manager’s mortgage investment team plan to terminate his or her employment with the Manager or Colony, as the case may beManager. Neither the Manager nor, to the knowledge best of the Manager’s knowledge, any Company-Focused Professional officers or other key persons of the Manager named in the General Disclosure Package is subject to any noncompete, nondisclosure, confidentiality, employment, consulting or similar agreement that would be violated by the present or proposed business activities of the Company or the Manager as described in the Registration Statement, the General Disclosure Package and the ProspectusPackage.