<table><tr><th>From:</th><th>Ada Clapp</th></tr><tr><td>Sent:</td><td>Thursday, January 28, 2016 3:50 PM</td></tr><tr><td>To:</td><td>jeffrey E.</td></tr><tr><td>Cc:</td><td>Brad Wechsler</td></tr><tr><td>Subject:</td><td>FW: Administrative Service Agreements</td></tr></table>

Hi Jeffrey,

As you know, we have been working on Administrative =ervices Agreements as a mechanism for some of family trusts and entities t= cover their share of Elysium's costs in connection with the service= Elysium provides to them. In July, we sent you a copy of the draft ASA and a summary of the document for your re=iew. We are now ready to implement the following ASAs with Elysium:

1. ASA for Leon D. Black--includes: Leon, BJAV =arine Ltd.; BV70 LLC; JMWT LLC; Narrows Holdings LLC, Narrows Holdings II =LC and Pent Holdings, Inc. as principals.

2. ASA for Black Family Partners, LP.

3. ASA for APO-01 Declaration — includes:=APO-01 Declaration; LBF Holdings LLC; LDB 2011LLC; NY 70th Str=et LLC; OFH LLC; and SH Meadow Lane LLC as principals.

4. ASA for the APO1Agreement — includes =he APO1 Agreement; Noel Calb LLC and Narrow Inc. as principals.=/p>

5. ASA for LDB 2014 LLC.

Once AP Narrows LP has been funded, we will also pre=are an ASA for it.

Would you like to review these agreements before we =ave them executed or are you OK with us getting them signed?

Thanks.

Ada Clapp

Chief Legal Officer

Elysium Management LLC

445 Park Avenue

Suite 1401

- Suite: 1401 (from surrounding text)
- Location: New York, New York 10022
- Direct: [redacted — black box]
- Fax: (no visible value)
- Email: [redacted — long black box]
- Footer: confidentiality notice visible (text about intended recipient, deletion if received in error)

This communication and any attachment is for the =ntended recipient(s) only and may contain information that is privileged, =onfidential and/or proprietary. If you are not the intended reci=ient, you are hereby notified that further dissemination of this communication and its attachments is prohibited.&nbs=; Please delete all copies of this communication and its attachments and n=tify me immediately that you have received them in error. Thank you.=nbsp;