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

Management and Operation of Business. Section 5.1 Power and Authority of Board of Directors 33 21 Section 5.2 Number, Qualification Qualification, Term and Term of Office of Directors 35 Section 5.3 Election of Directors 35 23 Section 5.3 Appointment of Designated Directors. 24 Section 5.4 Removal 36 Resignations and Removals of Directors 24 Section 5.5 Resignations 36 Vacancies 24 Section 5.6 Vacancies 36 Meetings 25 Section 5.7 Organization 25 Section 5.8 Quorum 25 Section 5.9 Nomination of Directors 36 Section 5.8 Chairman of Meetings 37 Section 5.9 Place of Meetings 37 26 Section 5.10 Regular Meetings 37 Actions of the Board by Consent 26 Section 5.11 Special Meetings; Notice 37 Meeting by Means of Conference Telephone 26 Section 5.12 Action Without Meeting 37 Committees 26 Section 5.13 Conference Telephone Meetings 38 Attorneys; Authorized Signatories 27 Section 5.14 Quorum 38 Compensation 27 Section 5.15 Committees 38 Elimination of Fiduciary Duties; Standard of Conduct 27 Section 5.16 Alternate Members of Committees 38 Exculpation and Indemnification 28 Section 5.17 Minutes of Committees 39 Section 5.18 Remuneration 39 Section 5.19 Exculpation, Indemnification, Advances and Insurance 39 Section 5.20 Resolution of Conflicts of Interest; Standards of Conduct Interested Directors 30 Section 5.18 Loans and Modification of Duties 42 Contributions Between Group Members 32 Section 5.19 Officers 32 Section 5.20 Business Opportunities 32 Section 5.21 Certificate of Formation 43 Section 5.22 Officers 43 Section 5.23 Duties of Officers and Directors 45 Section 5.24 Outside Activities 46 Section 5.25 Reliance by Third Parties 46 Section 5.26 Acquisitions by FIG LLC 47 33 ARTICLE VI BOOKS, RECORDS, ACCOUNTING AND REPORTS Section 6.1 Records and Accounting 47 34 Section 6.2 Fiscal Year 47 34 Section 6.3 Reports 47 Reports; Confidential Information 34 ARTICLE VII

Management and Operation of Business. Section 5.1 Power and Authority of Board of Directors 33 Section 5.2 Number, Qualification and Term of Office of Directors 35 36 Section 5.3 Election of Directors 35 36 Section 5.4 Removal 36 Section 5.5 Resignations 36 37 Section 5.6 Vacancies 36 37 Section 5.7 Nomination of Directors 36 37 Section 5.8 Chairman of Meetings 37 Section 5.9 Place of Meetings 37 38 Section 5.10 Regular Meetings 37 38 Section 5.11 Special Meetings; Notice 37 38 Section 5.12 Action Without Meeting 37 38 Section 5.13 Conference Telephone Meetings 38 Section 5.14 Quorum 38 Section 5.15 Committees 38 39 Section 5.16 Alternate Members of Committees 38 39 Section 5.17 Minutes of Committees 39 Section 5.18 Remuneration 39 Section 5.19 Exculpation, Indemnification, Advances and Insurance 39 40 Section 5.20 Resolution of Conflicts of Interest; Standards of Conduct and Modification of Duties 42 43 Section 5.21 Certificate of Formation 43 44 Section 5.22 Officers 43 44 Section 5.23 Duties of Officers and Directors 45 47 Section 5.24 Outside Activities 46 47 Section 5.25 Reliance by Third Parties 46 48 Section 5.26 Acquisitions by FIG LLC 47 Och-Ziff Holding or Och-Ziff Corp 48 ARTICLE VI BOOKS, RECORDS, ACCOUNTING AND REPORTS Section 6.1 Records and Accounting 47 49 Section 6.2 Fiscal Year 47 49 Section 6.3 Reports 47 49 ARTICLE VII

Management and Operation of Business. Section 5.1 6.1 Power and Authority of Board of Directors 33 16 Section 5.2 6.2 Number, Qualification and Term of Office of Directors 35 17 Section 5.3 6.3 Election of Directors 35 17 Section 5.4 6.4 Removal 36 17 Section 5.5 6.5 Resignations 36 17 Section 5.6 6.6 Vacancies 36 17 Section 5.7 Nomination of Directors 36 Section 5.8 6.7 Chairman of Meetings 37 17 Section 5.9 6.8 Place of Meetings 37 17 Section 5.10 Regular Meetings 37 Section 5.11 Special 6.9 Meetings; Notice 37 18 Section 5.12 6.10 Action Without Meeting 37 18 Section 5.13 6.11 Conference Telephone Meetings 38 18 Section 5.14 6.12 Quorum 38 18 Section 5.15 6.13 Committees 38 18 Section 5.16 6.14 Alternate Members of Committees 38 18 Section 5.17 Minutes of Committees 39 6.15 Remuneration 18 Section 5.18 Remuneration 39 Section 5.19 6.16 Exculpation, Indemnification, Advances and Insurance 39 18 Section 5.20 6.17 Resolution of Conflicts of Interest; Standards of Conduct and Modification of Duties 42 22 Section 5.21 6.18 Certificate of Formation 43 23 Section 5.22 6.19 Officers 43 23 Section 5.23 6.20 Duties of Officers and Directors 45 23 Section 5.24 Outside Activities 46 Section 5.25 6.21 Reliance by Third Parties 46 24 Section 5.26 Acquisitions by FIG LLC 47 6.22 Manager 24 ARTICLE VI VII BOOKS, RECORDS, ACCOUNTING AND REPORTS Section 6.1 7.1 Records and Accounting 47 24 Section 6.2 7.2 Fiscal Year 47 25 Section 6.3 7.3 Reports 47 25 ARTICLE VIIVIII TAX MATTERS

Management and Operation of Business. Section 5.1 Power and Authority of Board of Directors 33 15 Section 5.2 Number, Qualification and Term of Office of Directors 35 16 Section 5.3 Election of Directors 35 17 Section 5.4 Removal 36 17 Section 5.5 Resignations 36 17 Section 5.6 Vacancies 36 17 Section 5.7 Nomination of Directors 36 18 Section 5.8 Chairman of Meetings 37 18 Section 5.9 Place of Meetings 37 18 Section 5.10 Regular Meetings 37 18 Section 5.11 Special Meetings; Notice 37 18 Section 5.12 Action Without Meeting 37 18 Section 5.13 Conference Telephone Meetings 38 18 Section 5.14 Quorum 38 19 Section 5.15 Committees 38 19 Section 5.16 Alternate Members of Committees 38 19 Section 5.17 Minutes of Committees 39 19 Section 5.18 Remuneration 39 19 Section 5.19 Exculpation, Indemnification, Advances and Insurance 39 20 Section 5.20 Resolution of Conflicts of Interest; Standards of Conduct and Modification of Duties 42 23 Section 5.21 Certificate of Formation 43 23 Section 5.22 Officers 43 24 Section 5.23 Duties of Officers and Directors 45 26 Section 5.24 Outside Activities 46 26 Section 5.25 Reliance by Third Parties 46 27 Section 5.26 Acquisitions by FIG LLC 47 Consent Rights 27 ARTICLE VI BOOKS, RECORDS, ACCOUNTING AND REPORTS Section 6.1 Records and Accounting 47 28 Section 6.2 Fiscal Year 47 28 Section 6.3 Reports 47 29 ARTICLE VIIVII TAX MATTERS 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 33 45 Section 5.2 Number, Qualification and Term of Office of Directors 35 47 Section 5.3 Election of Directors 35 48 Section 5.4 Removal 36 48 Section 5.5 Resignations 36 48 Section 5.6 Vacancies 36 49 Section 5.7 Nomination of Directors 36 49 Section 5.8 Chairman of Meetings 37 49 Section 5.9 Place of Meetings 37 50 Section 5.10 Regular Meetings 37 50 Section 5.11 Special Meetings; Notice 37 50 Section 5.12 Action Without Meeting 37 50 Section 5.13 Conference Telephone Meetings 38 51 Section 5.14 Quorum 38 51 Section 5.15 Committees 38 51 Section 5.16 Alternate Members of Committees 38 52 Section 5.17 Minutes of Committees 39 52 Section 5.18 Remuneration 39 52 Section 5.19 Exculpation, Indemnification, Advances and Insurance 39 52 Section 5.20 Resolution of Conflicts of Interest; Standards of Conduct and Modification of Duties 42 57 Section 5.21 Certificate of Formation 43 58 Section 5.22 Officers 43 58 Section 5.23 Duties of Officers and Directors 45 Directors. 61 Section 5.24 Outside Activities 46 62 Section 5.25 Reliance by Third Parties 46 62 Section 5.26 Acquisitions by FIG LLC 47 63 ARTICLE VI BOOKS, RECORDS, ACCOUNTING AND REPORTS Section 6.1 Records and Accounting 47 63 Section 6.2 Fiscal Year 47 64 Section 6.3 Reports 47 64 ARTICLE VIIVII TAX MATTERS

Management and Operation of Business. Section 5.1 Power and Authority of Board of Directors 33 Section 5.2 Number, Qualification and Term of Office of Directors 35 36 Section 5.3 Election of Directors 35 36 Section 5.4 Removal 36 Section 5.5 Resignations 36 37 Section 5.6 Vacancies 36 37 Section 5.7 Nomination of Directors 36 37 Section 5.8 Chairman of Meetings 37 Section 5.9 Place of Meetings 37 38 Section 5.10 Regular Meetings 37 38 Section 5.11 Special Meetings; Notice 37 38 Section 5.12 Action Without Meeting 37 38 Section 5.13 Conference Telephone Meetings 38 Section 5.14 Quorum 38 Section 5.15 Committees 38 39 Section 5.16 Alternate Members of Committees 38 39 Section 5.17 Minutes of Committees 39 Section 5.18 Remuneration 39 Section 5.19 Exculpation, Indemnification, Advances and Insurance 39 40 Section 5.20 Resolution of Conflicts of Interest; Standards of Conduct and Modification of Duties 42 43 Section 5.21 Certificate of Formation 43 44 Section 5.22 Officers 43 44 Section 5.23 Duties of Officers and Directors 45 47 Section 5.24 Outside Activities 46 47 Section 5.25 Reliance by Third Parties 46 48 Section 5.26 Acquisitions by FIG LLC 47 Och-Ziff Holding or Och-Ziff Corp 48 ARTICLE VI BOOKS, RECORDS, ACCOUNTING AND REPORTS Section 6.1 Records and Accounting 47 Section 6.2 Fiscal Year 47 Section 6.3 Reports 47 ARTICLE VIIREPORTS

Management and Operation of Business. Section 5.1 Power and Authority of Board of Directors 33 14 Section 5.2 Number, Qualification and Term of Office of Directors 35 16 Section 5.3 Election of Directors 35 16 Section 5.4 Removal 36 17 Section 5.5 Resignations 36 17 Section 5.6 Vacancies 36 17 Section 5.7 Nomination of Directors 36 17 Section 5.8 Chairman of Meetings 37 18 Section 5.9 Place of Meetings 37 18 Section 5.10 Regular Meetings 37 18 Section 5.11 Special Meetings; Notice 37 18 Section 5.12 Action Without Meeting 37 18 Section 5.13 Conference Telephone Meetings 38 18 Section 5.14 Quorum 38 18 Section 5.15 Committees 38 19 Section 5.16 Alternate Members of Committees 38 19 Section 5.17 Minutes of Committees 39 19 Section 5.18 Remuneration 39 19 Section 5.19 Exculpation, Indemnification, Advances and Insurance 39 20 Section 5.20 Resolution of Conflicts of Interest; Standards of Conduct and Modification of Duties 42 22 Section 5.21 Certificate of Formation 43 23 Section 5.22 Officers 43 24 Section 5.23 Duties of Officers and Directors 45 26 Section 5.24 Outside Activities 46 26 Section 5.25 Reliance by Third Parties 46 27 Section 5.26 Acquisitions by FIG LLC 47 Consent Rights 27 ARTICLE VI BOOKS, RECORDS, ACCOUNTING AND REPORTS Section 6.1 Records and Accounting 47 28 Section 6.2 Fiscal Year 47 28 Section 6.3 Reports 47 28 ARTICLE VIIVII TAX MATTERS Section 7.1 Tax Elections 29 Section 7.2 Withholding 29 ARTICLE VIII