EFTA00584379.pdf

NAR INVESTMENTS LLC: TERM SHEET As of February 2, 2015 I. Entity. NAR Investments LLC ("NAR") will be created by Black Family Partners, L.P. ("BFP") to hold its non-Apollo related investments. II. Members. Initial Member: BFP. Eventual Member: AP Narrows LP. III. Governance. Leon is the Manager of NAR. IV. Withdrawal and Transfer Rights. A. A Member may withdraw all or part of its capital account. B. Limitations on transfers: 1. Transfers to family members (or trusts or other entities for their benefit) permitted. 2. Transfers to non-family members (or trusts or other entities for their benefit) subject to rights of first refusal granted to the Members. V. Steps/Eventual Ownership of NAR. 13FP Step I: NAR embership interest to REP partner% 1 V Leon LDB 2014 DRAT, .% (P LLC Eventual on nership: Step 2: NAR Step 3: Member- Contribution ship Leo,' of NAR NAR Investments interests interests in as in-kind NAR LLC Atemberihip exchange for annuity LP interests payment interests LP Interests r AP Narrows LP AP Narrows LP LDB 2014 LLC EFTA00584379