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CONFIDENTIAL AND PROPRIETARY This company is a limited partner of Apollo Credit
Opportunity Advisors I, L.P. which is the general partner of Apollo Credit
Opportunity Fund I, L.P. and earns the “carried interest” on COF I profits.
Apollo Credit Opportunity CM Executive Carry I, L.P. Second Amended and Restated
Limited Partnership Agreement Dated January 12, 2011 and made effective as of
July 14, 2009 THE TRANSFER OF THE PARTNERSHIP INTERESTS DESCRIBED IN THIS
AGREEMENT IS RESTRICTED AS DESCRIBED HEREIN.

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TABLE OF CONTENTS Page ARTICLE 1 DEFINITIONS
............................................................................................................1
ARTICLE 2 FORMATION AND ORGANIZATION
....................................................................4 Section
2.1 Formation
...........................................................................................................4
Section 2.2 Name
..................................................................................................................4
Section 2.3 Offices
................................................................................................................4
Section 2.4 Term of the Partnership
.....................................................................................5
Section 2.5 Purpose of the Partnership
.................................................................................5
Section 2.6 Actions by the Partnership
.................................................................................5
Section 2.7 Admission of Limited Partners
..........................................................................5
ARTICLE 3 CAPITAL
....................................................................................................................6
Section 3.1 Contributions to Capital
.....................................................................................6
Section 3.2 Rights of Partners in Capital
..............................................................................6
Section 3.3 Capital Accounts
................................................................................................7
Section 3.4 Allocation of Profit and Loss
.............................................................................8
Section 3.5 Tax Allocations
..................................................................................................9
Section 3.6 Reserves; Adjustments for Certain Future Events
.............................................9 Section 3.7 Finality and Binding
Effect of General Partner’s Determinations ...................10 ARTICLE 4
DISTRIBUTIONS
....................................................................................................10
Section 4.1 Distributions
.....................................................................................................10
Section 4.2 Withholding of Certain Amounts
.....................................................................11 Section
4.3 Limitation on Distributions
..............................................................................11
ARTICLE 5 MANAGEMENT
......................................................................................................12
Section 5.1 Rights and Powers of the General Partner
.......................................................12 Section 5.2 Delegation
of Duties
........................................................................................12
Section 5.3 Transactions with Affiliates
.............................................................................13
Section 5.4 Expenses
..........................................................................................................13
Section 5.5 Rights of Limited Partners
...............................................................................13
Section 5.6 Other Activities of Partners
.............................................................................13
Section 5.7 Duty of Care; Indemnification
.........................................................................14
ARTICLE 6 ADMISSIONS, TRANSFERS AND WITHDRAWALS
.........................................15 Section 6.1 Admission of Additional
Limited Partners; Effect on Points ..........................15 Section 6.2
Admission of Additional General Partner and Transfer
..................................16 Section 6.3 Transfer of Interests of
Limited Partners .........................................................16
Section 6.4 Withdrawal of Partners
....................................................................................17
Section 6.5 Pledges
.............................................................................................................18

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ARTICLE 7 POINTS
.....................................................................................................................19
Section 7.1 Allocation of Points
.........................................................................................19
Section 7.2 Effect of Withdrawal on Points
........................................................................20
Section 7.3 Points as Profits Interests
.................................................................................20
ARTICLE 8 DISSOLUTION AND LIQUIDATION
...................................................................21 Section
8.1 Dissolution and Liquidation of Partnership
.....................................................21 ARTICLE 9 GENERAL
PROVISIONS
.......................................................................................21
Section 9.1 Amendment of this Agreement
........................................................................21
Section 9.2 Special Power-of-Attorney
..............................................................................22
Section 9.3 Notices
.............................................................................................................23
Section 9.4 Agreement Binding Upon Successors and Assigns
.........................................23 Section 9.5 Merger, Consolidation,
etc.
..............................................................................24
Section 9.6 Governing Law
................................................................................................24
Section 9.7 Termination of Right of Action
.......................................................................25
Section 9.8 Confidentiality
.................................................................................................25
Section 9.9 Not for Benefit of Creditors
.............................................................................25
Section 9.10 Consents
...........................................................................................................26
Section 9.11 Reports
.............................................................................................................26
Section 9.12 Filings
..............................................................................................................26
Section 9.13 Miscellaneous
..................................................................................................26

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APOLLO CREDIT OPPORTUNITY CM EXECUTIVE CARRY I, L.P. A Delaware Limited
Partnership SECOND AMENDED AND RESTATED LIMITED PARTNERSHIP AGREEMENT SECOND
AMENDED AND RESTATED LIMITED PARTNERSHIP AGREEMENT of APOLLO CREDIT OPPORTUNITY
CM EXECUTIVE CARRY I, L.P. (the “Partnership”) by and among Apollo COF I Capital
Management, LLC, a Delaware limited liability company, as the sole general
partner (the “General Partner”), and the persons whose names and addresses are
set forth in the Schedule of Partners under the caption “Limited Partners” as
the limited partners is dated January 12, 2011 and made effective as of July 14,
2009 (the “Agreement”). W I T N E S S E T H : WHEREAS, on July 14, 2009, Apollo
COF I Capital Management, LLC filed with the Secretary of State of the State of
Delaware a Certificate of Limited Partnership to form Apollo Credit Opportunity
CM Executive Carry I, L.P. as a limited partnership under the Delaware Revised
Uniform Limited Partnership Act, pursuant to an agreement among Apollo COF I
Capital Management, LLC, as sole general partner, and the limited partners of
the Partnership (the “Original Agreement”); WHEREAS, the parties amended and
restated the Original Agreement in its entirety as of July 14, 2009 (the
“Amended Agreement”); and WHEREAS, the parties wish to amend and restate the
Amended Agreement in its entirety to make certain modifications thereto. NOW,
THEREFORE, the parties hereby agree as follows: ARTICLE 1 DEFINITIONS “Act”
means the Delaware Revised Uniform Limited Partnership Act, as in effect on the
date hereof and as amended from time to time, or any successor law. “Affiliate”
means with respect to any Person any other Person directly or indirectly
controlling, controlled by or under common control with such Person. “Agreement”
means this Amended and Restated Limited Partnership Agreement, as amended or
supplemented from time to time. “APH” means Apollo Principal Holdings V, L.P.
(or its assignees or transferees).

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2 “Capital Account” means with respect to each Partner the capital account
established and maintained on behalf of such Partner as described in Section
3.3. “Carried Interest Distributions” has the meaning ascribed to that term in
the Fund LP Agreement. “Certificate” means the Certificate of Limited
Partnership of the Partnership and any amendments thereto as filed with the
office of the Secretary of State of the State of Delaware. “Clawback Amount”
means any amount of Carried Interest Distributions received by the Fund General
Partner and required, under the Fund LP Agreement, to be returned to the Fund,
including any or all of (i) an Interim Clawback Amount, as defined in the Fund
LP Agreement, (ii) a Clawback Amount, as defined in the Fund LP Agreement and,
(iii) any amount of Carried Interest Distributions required to be returned to
the Fund pursuant to section 6.2 of the Fund LP Agreement. “Clawback Share” has
the meaning ascribed to that term in Section 3.1(d). “Code” means the United
States Internal Revenue Code of 1986, as amended and as hereafter amended, or
any successor law. “Confidential Information” means information that has not
been made publicly available by or with the permission of the General Partner
and that is obtained or learned by a Limited Partner as a result of or in
connection with such Partner’s association with the Partnership or any of its
Affiliates concerning the business, affairs or activities of the Partnership,
any of its Affiliates or any of the Portfolio Investments, including, without
limitation, models, codes, client information (including client identity and
contacts, client lists, client financial or personal information), financial
data, know-how, computer software and related documentation, trade secrets, and
other forms of sensitive or valuable non-public information obtained or learned
by the Limited Partner as a result of such Limited Partner’s participation in
the Partnership. For the avoidance of doubt, Confidential Information does not
include information concerning non- proprietary business or investment
practices, methods or relationships customarily employed or entered into by
comparable business enterprises. “Covered Person” has the meaning ascribed to
that term in Section 5.7. “DEUCC” has the meaning ascribed to that term in
Section 6.5(b). “Excess Points” has the meaning ascribed to that term in the
Fund GP Agreement. “Final Adjudication” has the meaning ascribed to that term in
Section 5.7. “Fiscal Year” means, with respect to a year, the period commencing
on January 1 of such year and ending on December 31 of such year (or on the date
of a final distribution pursuant to Section 8.1(a)), unless the General Partner
shall elect another fiscal year for the Partnership which is a permissible
taxable year under the Code. “Fund” means Apollo Credit Opportunity Fund I, L.P.

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3 “Fund General Partner” means Apollo Credit Opportunity Advisors I, L.P. in its
capacity as general partner of the Fund pursuant to the Fund LP Agreement. “Fund
GP Agreement” means the amended and restated limited partnership agreement of
the Fund General Partner, as amended from time to time. “Fund LP Agreement”
means the second amended and restated agreement of limited partnership of the
Fund, as amended from time to time. “General Partner” means Apollo COF I Capital
Management, LLC, a Delaware limited liability company, in its capacity as
general partner of the Partnership or any successor to the business of the
General Partner in its capacity as general partner of the Partnership. “Limited
Partner” means any Person admitted as a limited partner to the Partnership in
accordance with this Agreement, until such Person withdraws entirely as a
limited partner of the Partnership, in its capacity as a limited partner of the
Partnership. “Loss” means, with respect to any Fiscal Year, any net loss of the
Partnership. To the extent derived from the Fund, any items of income, gain,
loss, deduction and credit shall be determined in accordance with the same
accounting policies, principles and procedures applicable to the determination
by the Fund, and any items not derived from the Fund shall be determined in
accordance with the accounting policies, principles and procedures used by the
Partnership for United States federal income tax purposes. “Management Company”
has the meaning ascribed to that term in the Fund LP Agreement. “Operating
Profit” has the meaning ascribed to that term in the Fund GP Agreement.
“Partner” means the General Partner and any of the Limited Partners and
“Partners” means the General Partner and all of the Limited Partners.
“Partnership” means the limited partnership formed pursuant to this Agreement
and the Certificate. “Person” means any individual, partnership, corporation,
limited liability company, joint venture, joint stock company, unincorporated
organization or association, trust (including the trustees thereof, in their
capacity as such), government, governmental agency, political subdivision of any
government, or other entity. “Point” means a share of Profit or Loss
representing a “Point” (as defined in the Fund GP Agreement) held by the
Partnership as a limited partner of the Fund General Partner. “Portfolio
Investment” has the meaning ascribed to that term in the Fund LP Agreement.
“Profit” means, with respect to any Fiscal Year, any net income of the
Partnership. To the extent derived from the Fund General Partner, any items of
income, gain, loss, deduction and credit shall be determined in accordance with
the same accounting policies, principles and

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4 procedures applicable to the determination by the Fund General Partner, and
any items not derived from the Fund General Partner shall be determined in
accordance with the accounting policies, principles and procedures used by the
Partnership for United States federal income tax purposes. “Schedule of
Partners” means a schedule to be maintained by the General Partner showing the
following information with respect to each Partner: name, address, date of
admission and withdrawal, and required capital contribution (if any). “Transfer”
means any direct or indirect sale, exchange, transfer, assignment or other
disposition by a Partner of any or all of such Partner’s interest in the
Partnership (whether respecting, for example, economic rights only or all the
rights associated with the interest) to another Person, whether voluntary or
involuntary. “Treasury Regulations” means the regulations promulgated under the
Code. ARTICLE 2 FORMATION AND ORGANIZATION Section 2.1 Formation The Partnership
is formed as a limited partnership under and pursuant to the Act. The
Certificate was filed on July 14, 2009. The General Partner shall execute,
acknowledge and file any amendments to the Certificate as may be required by the
Act and any other instruments, documents and certificates which, in the opinion
of the Partnership’s legal counsel, may from time to time be required by the
laws of the United States of America, the State of Delaware or any other
jurisdiction in which the Partnership shall determine to do business, or any
political subdivision or agency thereof, or which such legal counsel may deem
necessary or appropriate to effectuate, implement and continue the valid and
subsisting existence and business of the Partnership. Section 2.2 Name The name
of the Partnership shall be “Apollo Credit Opportunity CM Executive Carry I,
L.P.” or such other name as the General Partner may hereafter adopt upon causing
an appropriate amendment to be made to this Agreement and to the Certificate to
be filed in accordance with the Act. Promptly thereafter, the General Partner
shall send notice thereof to each Limited Partner. Section 2.3 Offices (a) The
Partnership shall maintain its principal office, and may maintain one or more
additional offices, at such place or places as the General Partner may from time
to time determine.

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5 (b) The General Partner shall arrange for the Partnership to have and maintain
in the State of Delaware, at the expense of the Partnership, a registered office
and registered agent for service of process on the Partnership as required by
the Act. Section 2.4 Term of the Partnership (a) The term of the Partnership
shall continue until the first to occur of the following: (i) any date on which
the General Partner shall elect to dissolve the Partnership; or (ii) the entry
of a decree of judicial dissolution under section 17-802 of the Act. (b) The
parties agree that irreparable damage would be done to the goodwill and
reputation of the Partners if any Limited Partner should bring an action to
dissolve the Partnership. Care has been taken in this Agreement to provide for
fair and just payment in liquidation of the interests of all Partners.
Accordingly, to the fullest extent permitted by law, each Limited Partner hereby
waives and renounces its right to such a decree of dissolution or to seek the
appointment of a liquidator for the Partnership, except as provided herein.
Section 2.5 Purpose of the Partnership The principal purpose of the Partnership
is to act as a limited partner of the Fund General Partner and to undertake such
related and incidental activities and execute and deliver such related documents
necessary or incidental thereto. Section 2.6 Actions by the Partnership The
Partnership may execute, deliver and perform, and the General Partner may
execute and deliver, all contracts, agreements and other undertakings, and
engage in all activities and transactions as may in the opinion of the General
Partner be necessary or advisable to carry out the objects and purposes of the
Partnership, without the approval of any Limited Partner. Section 2.7 Admission
of Limited Partners On the date hereof, the Persons whose names are set forth in
the Schedule of Partners under the caption “Limited Partners” shall be admitted
to the Partnership as limited partners of the Partnership upon their execution
of a counterpart of this Agreement or such other instrument evidencing, to the
satisfaction of the General Partner, such Limited Partner’s intent to become a
Partner.

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6 ARTICLE 3 CAPITAL Section 3.1 Contributions to Capital (a) Any required
contribution of a Limited Partner to the capital of the Partnership shall be as
set forth in the Schedule of Partners. Contributions to the capital of the
Partnership shall be made as of the date of admission of such Limited Partner as
a limited partner of the Partnership and as of each such other date as may be
specified by the General Partner. Except as otherwise permitted by the General
Partner, all contributions to the capital of the Partnership by each Limited
Partner shall be payable exclusively in cash. (b) No Partner shall be obligated,
nor shall any Partner have any right, to make any contribution to the capital of
the Partnership other than as specified in this Section 3.1 or Section 4.2(a).
No Limited Partner shall be obligated to restore any deficit balance in its
Capital Account. (c) To the extent, if any, that it is determined that the
Partnership, as a limited partner of the Fund General Partner, is required to
pay any amounts to the Fund General Partner pursuant to section 3.1(d) of the
Fund GP Agreement, each Partner, and each former Partner, shall be required to
participate in such payment and contribute to the Partnership an amount equal to
such Partner’s (or former Partner’s) Clawback Share of any Clawback Amount, but
not in any event in excess of the cumulative amount theretofore distributed to
such Partner, or former Partner, with respect to Profit. (d) A Partner’s (or
former Partner’s) “Clawback Share” of any Clawback Amount shall be calculated as
follows: (i) if such Clawback Amount does not exceed the most recent cash
distribution by the Partnership representing Operating Profit attributable to
the Fund (each such distribution, a “Carry Distribution” and the most recent
Carry Distribution, the “Latest Carry Distribution”) as of the time of
calculating such Clawback Amount, a portion of such Clawback Amount equal to (A)
the amount of the Latest Carry Distribution distributed to such Partner (or
former Partner), divided by (B) the total amount of the Latest Carry
Distribution; (ii) to the extent that the Clawback Amount exceeds the Latest
Carry Distribution, the excess shall be applied successively to each immediately
preceding Carry Distribution until the entire Clawback Amount has been satisfied
and borne with respect to each such Carry Distribution by those Partners (and
former Partners) to whom such Carry Distribution was made in the same manner as
provided in Section 3.1(d)(i). Section 3.2 Rights of Partners in Capital (a) No
Partner shall be entitled to interest on its capital contributions to the
Partnership.

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7 (b) No Partner shall have the right to distributions or the return of any
contribution to the capital of the Partnership except (i) for distributions in
accordance with Section 4.1 or Section 6.4, or (ii) upon dissolution of the
Partnership. The entitlement to any such return at such time shall be limited to
the value of the Capital Account of the Partner. The General Partner shall not
be liable for the return of any such amounts. Section 3.3 Capital Accounts (a)
The Partnership shall maintain for each Partner a separate Capital Account. (b)
Each Partner’s Capital Account shall have an initial balance equal to the amount
of any cash and the net value of any securities or other property constituting
such Partner’s initial contribution to the capital of the Partnership. (c) Each
Partner’s Capital Account shall be increased by the sum of: (i) the amount of
cash and the net value of any securities or other property constituting
additional contributions by such Partner to the capital of the Partnership
permitted pursuant to Section 3.1, plus (ii) the portion of any Profit allocated
to such Partner’s Capital Account pursuant to Section 3.4, plus (iii) such
Partner’s allocable share of any decreases in any reserves recorded by the
Partnership pursuant to Section 3.6, to the extent the General Partner
determines that, pursuant to any provision of this Agreement, such item is to be
credited to such Partner’s Capital Account on a basis which is not in accordance
with the current respective Points of all Partners. (d) Each Partner’s Capital
Account shall be reduced by the sum of (without duplication): (i) the portion of
any Loss allocated to such Partner’s Capital Account pursuant to Section 3.4,
plus (ii) the amount of any cash and the net value of any property distributed
to such Partner pursuant to Section 4.1, Section 6.4 or Section 8.1 including
any amount deducted pursuant to Section 4.2 or Section 5.4 from any such amount
distributed, plus (iii) any withholding taxes or other items payable by the
Partnership and allocated to such Partner pursuant to Section 5.4(b), any
increases in any reserves recorded by the Partnership pursuant to Section 3.6,
to the extent the General Partner determines that, pursuant to any provision of
this Agreement, such item is to be charged to such Partner’s Capital Account on
a basis which is not in accordance with the current respective Points of all
Partners.

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8 Section 3.4 Allocation of Profit and Loss (a) Allocations of Profit. Profit
for any Fiscal Year shall be allocated among the Partners in proportion to their
respective Points as of the close of such Fiscal Year (determined immediately
prior to any forfeiture pursuant to Section 7.1(c)). (b) Allocations of Losses.
Subject to the limitation of Section 3.4(c), Loss for any Fiscal Year shall be
allocated among the Partners in proportion to their respective Points as of the
close of such Fiscal Year (determined immediately prior to any forfeiture
pursuant to Section 7.1(c)); provided that, if a Loss is recognized by the
Partnership for a Fiscal Year that is attributable to a Portfolio Investment
that gave rise to a Profit in a prior Fiscal Year that was allocated to a
Partner, including for this purpose, a former Partner (a “Prior Profit
Allocation”), then such Loss shall be allocated, in the reasonable discretion of
the General Partner, among the Partners and such former Partners who received
the Prior Profit Allocation in a proportion that takes any into account the
Points that the former Partners had been assigned at the time such Prior Profit
Allocation was made to the Partners, but only up to the amount of such Prior
Profit Allocation. (c) To the extent that the allocations of Loss contemplated
by Section 3.4(b) would cause the Capital Account of any Limited Partner to be
less than zero, such Loss shall to that extent instead be allocated to and
debited against the Capital Account of the General Partner. Following any such
adjustment pursuant to Section 3.4(c) with respect to any Limited Partner, any
Profit for any subsequent Fiscal Year which would otherwise be credited to the
Capital Account of such Limited Partner pursuant to Section 3.4(a) shall instead
be credited to the Capital Account of the General Partner until the cumulative
amounts so credited to the Capital Account of the General Partner with respect
to such Limited Partner pursuant to Section 3.4(c) is equal to the cumulative
amount debited against the Capital Account of the General Partner with respect
to such Limited Partner pursuant to Section 3.4(c). (d) Special Allocations (i)
Qualified Income Offset. In the event any Partner unexpectedly receives any
adjustments, allocations, or distributions described in Treasury Regulations
section 1.704- 1(b)(2)(ii)(d)(4), (5), or (6), items of Partnership income and
gain shall be specially allocated to each such Limited Partner in an amount and
manner sufficient to eliminate, to the extent required by the Treasury
Regulations, the deficit balance in the Capital Account of such Partner as
quickly as possible; provided that an allocation pursuant to this Section
3.4(d)(i) may be made only if and to the extent that such Partner would have a
deficit balance in its Capital Account after all other allocations provided for
in this Article 3 have been tentatively made as if this Section 3.4(d)(i) were
not in this Agreement. This Section 3.4(d)(i) is intended to constitute a
“qualified income offset” within the meaning of Treasury Regulations section
1.704-1(b)(2)(ii), and shall be interpreted consistently therewith. (ii) Gross
Income Allocation. In the event any Partner has a deficit Capital Account at the
end of any Fiscal Year that is in excess of the sum of (i) the amount such
Partner is obligated to restore pursuant to any provision of this Agreement, and
(ii) the amount such Partner is deemed to be obligated to restore pursuant to
the penultimate sentences of Treasury

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9 Regulations sections 1.704-2(g)(1) and 1.704-2(i)(5), each such Partner shall
be specially allocated items of Partnership income and gain in the amount of
such excess as quickly as possible; provided that an allocation pursuant to this
Section 3.4(d)(ii) may be made only if and to the extent that such Partner would
have a deficit Capital Account in excess of such sum after all other allocations
provided for in this Article 3 have been made as if Section 3.4(d)(i) and this
Section 3.4(d)(ii) were not in this Agreement. (iii) Other Special Allocations.
Special allocations shall be made in accordance with the requirements set forth
in the Treasury Regulations sections 1.704-2(f), (g) and (j) (minimum gain
chargeback), 1.704-2(i)(4) (partner minimum gain chargeback), 1.704- 2(i)(2)
(nonrecourse deductions), and, to the extent that an election under section 754
of the Code is in effect, 1.704-1(b)(2)(iv)(m) (section 754 adjustments). (e)
Each Limited Partner’s rights and entitlements as a Limited Partner are limited
to the rights to receive allocations and distributions of Profit expressly
conferred by this Agreement and any side letter or similar agreement entered
into pursuant to Section 9.1(b) and the other rights expressly conferred by this
Agreement and any such side letter or similar agreement or required by the Act,
and a Limited Partner shall not be entitled to any other allocations,
distributions or payments in respect of its interest, or to have or exercise any
other rights, privileges or powers. Section 3.5 Tax Allocations (a) For United
States federal, state and local income tax purposes, Partnership income, gain,
loss, deduction or credit (or any item thereof) for each Fiscal Year shall be
allocated to and among the Partners in order to reflect the allocations of
Profit and Loss pursuant to Section 3.4 for such Fiscal Year, taking into
account any variation between the adjusted tax basis and book value of
Partnership property in accordance with the principles of section 704(c) of the
Code. (b) If any Partner or Partners are treated for United States federal
income tax purposes as realizing ordinary income because of receiving an
interest in the Partnership (whether under section 83 of the Code or under any
similar provision of any law, rule or regulation) and the Partnership is
entitled to any offsetting deduction (net of any income realized by the
Partnership as a result of such receipt), the Partnership’s net deduction shall
be allocated to and among the Partners in such manner as to offset, as nearly as
possible, the ordinary income realized by such Partner or Partners. Section 3.6
Reserves; Adjustments for Certain Future Events (a) Appropriate reserves may be
created, accrued and charged against Profit or Loss for contingent liabilities,
if any, as of the date any such contingent liability becomes known to the
General Partner or as of each other date as the General Partner deems
appropriate, such reserves to be in the amounts which the General Partner deems
necessary or appropriate. The General Partner may increase or reduce any such
reserve from time to time by such amounts as the General Partner deems necessary
or appropriate. The amount of any such reserve, or any increase or decrease
therein, shall be proportionately charged or credited, as appropriate, to the

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10 Capital Accounts of those parties who are Partners at the time when such
reserve is created, increased or decreased, as the case may be, in proportion to
their respective Points at such time. (b) If any amount is required by Section
3.6(a) to be credited to a Person who is no longer a Partner, such amount shall
be paid to such Person in cash. Any amount required to be charged pursuant to
Section 3.6(a) shall be debited against the current balance in the Capital
Account of the affected Partners. To the extent that the aggregate current
Capital Account balances of such affected Partners are insufficient to cover the
full amount of the required charge, the deficiency shall be debited against the
Capital Accounts of the other Partners in proportion to their respective Capital
Account balances at such time; provided that each such other Partner shall be
entitled to a preferential allocation, in proportion to and to the extent of
such other Partner’s share of any such deficiency of any Profit that would
otherwise have been allocable after the date of such charge to the Capital
Accounts of the affected Partners whose Capital Accounts were insufficient to
cover the full amount of the required charge. Section 3.7 Finality and Binding
Effect of General Partner’s Determinations All matters concerning the
determination, valuation and allocation among the Partners with respect to any
profit or loss of the Partnership and any associated items of income, gain,
deduction, loss and credit, pursuant to any provision of this Article 3,
including any accounting procedures applicable thereto, shall be determined by
the General Partner, and such determinations and allocations shall be final and
binding on all the Partners. ARTICLE 4 DISTRIBUTIONS Section 4.1 Distributions
(a) The General Partner shall use reasonable efforts to cause the Partnership to
distribute, as promptly as practicable after receipt by the Partnership, any
available cash or property, subject to (i) the provisions of section 3.1(d) of
the Fund GP Agreement, and (ii) the retention of such reserves as the General
Partner considers appropriate or necessary for purposes of the prudent and
efficient financial operation of the Partnership’s business including in
accordance with Section 3.6 hereof and for purposes of satisfying the
Partnership’s anticipated obligations under section 3.1(d) of the Fund GP
Agreement. Any such distributions shall be made to Partners in proportion to
their respective Capital Account balances until such time as the Capital Account
balance of every Partner is zero and thereafter in proportion to their
respective Points, in either case determined: (A) in the case of any amount of
cash or property received from the Fund that is attributable to the disposition
of a Portfolio Investment by the Fund, as of the date of such disposition by the
Fund; and (B) in any other case, as of the date of receipt of such cash or
property by the Partnership.

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11 (b) Any other distributions or payments in respect of the interests of
Partners shall be made at such time, in such manner and to such Partners as the
General Partner shall determine. (c) Subject to Section 4.1(d), the General
Partner may cause the Partnership to pay distributions to the Partners at any
time in addition to those contemplated by Section 4.1(a) or (b), in cash or in
kind. Distributions of any such amounts shall be made to the Partners in
proportion to their respective Points, determined immediately prior to giving
effect to such distribution. (d) If a portion of the withdrawal proceeds of a
former Limited Partner is being paid to such Limited Partner in connection with
a distribution to Limited Partners under this Section 4.1 of cash or property
with respect to which such former Limited Partner received an allocation prior
to its withdrawal, such former Limited Partner’s share of such cash or property
shall be calculated for purposes of this Section 4 as if such former Limited
Partner were a Limited Partner with the number of Points such Limited Partner
had been assigned as of the date of such allocation; provided that a former
Limited Partner shall not be entitled to receive an amount in excess of its
withdrawal proceeds as determined under Section 6.4(b). Section 4.2 Withholding
of Certain Amounts (a) If the Partnership or the Fund General Partner incurs a
withholding tax or other tax obligation with respect to the share of Partnership
income allocable to any Partner, then the General Partner, without limitation of
any other rights of the Partnership, may cause the amount of such obligation to
be debited against the Capital Account of such Partner when the Partnership pays
such obligation, and any amounts then or thereafter distributable to such
Partner shall be reduced by the amount of such taxes. If the amount of such
taxes is greater than any such then distributable amounts, then such Partner and
any successor to such Partner’s interest shall indemnify and hold harmless the
Partnership, the Fund General Partner and the General Partner against, and shall
pay to the Partnership as a contribution to the capital of the Partnership, upon
demand of the General Partner, the amount of such excess. (b) The General
Partner may withhold from any distribution or other payment to any Limited
Partner pursuant to this Agreement or otherwise any other amounts due from such
Limited Partner to the Partnership or the General Partner pursuant to this
Agreement to the extent not otherwise paid. Any amounts so withheld shall be
applied by the General Partner to discharge the obligation in respect of which
such amounts were withheld. Section 4.3 Limitation on Distributions
Notwithstanding any provision to the contrary contained in this Agreement, the
Partnership, and the General Partner on behalf of the Partnership, shall not
make a distribution to any Partner on account of such Partner’s interest in the
Partnership if such distribution would violate the Act or other applicable law.

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12 ARTICLE 5 MANAGEMENT Section 5.1 Rights and Powers of the General Partner (a)
Subject to the terms and conditions of this Agreement, the General Partner shall
have complete and exclusive responsibility (i) for all management decisions to
be made on behalf of the Partnership, and (ii) for the conduct of the business
and affairs of the Partnership. (b) Without limiting the generality of the
foregoing, the General Partner shall have full power and authority to execute,
deliver and perform such contracts, agreements and other undertakings, and to
engage in all activities and transactions, as it may deem necessary or advisable
for, or as may be incidental to, the conduct of the business contemplated by
this Section 5.1, including, without in any manner limiting the generality of
the foregoing, contracts, agreements, undertakings and transactions with any
Partner or with any other Person having any business, financial or other
relationship with any Partner or Partners. The Partnership, and the General
Partner on behalf of the Partnership, may enter into and perform the Fund GP
Agreement and any documents contemplated thereby or related thereto and any
amendments thereto, without any further act, vote or approval of any Person,
including any Partner, notwithstanding any other provision of this Agreement.
The General Partner is hereby authorized to enter into the documents described
in the preceding sentence on behalf of the Partnership, but such authorization
shall not be deemed a restriction on the power of the General Partner to enter
into other documents on behalf of the Partnership. Except as otherwise expressly
provided herein or as required by law, all powers and authority vested in the
General Partner by or pursuant to this Agreement or the Act shall be construed
as being exercisable by the General Partner in its sole and absolute discretion.
(c) The General Partner shall be the “tax matters partner” for purposes of
section 6231(a)(7) of the Code. Each Partner agrees not to treat, on such
Partner’s United States federal income tax return or in any claim for a refund,
any item of income, gain, loss, deduction or credit in a manner inconsistent
with the treatment of such item by the Partnership. The General Partner shall
have the exclusive authority to make any elections required or permitted to be
made by the Partnership under any provisions of the Code or any other revenue
laws. Section 5.2 Delegation of Duties (a) Subject to Section 5.1, the General
Partner may delegate to any Person or Persons any of the duties, powers and
authority vested in it hereunder on such terms and conditions as it may consider
appropriate. (b) Any Person who is a Limited Partner and to whom the General
Partner delegates any of its duties pursuant to this Section 5.2 or any other
provision of this Agreement shall be subject to the same standard of care, and
shall be entitled to the same rights of indemnification and exoneration,
applicable to the General Partner under and pursuant to Section 5.7, unless such
Person and the General Partner mutually agree to a different standard of care or
right to indemnification and exoneration to which such Person shall be subject.

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13 (c) The General Partner shall cause the Partnership to enter into an
arrangement with the Management Company which arrangement shall require the
Management Company to pay all costs and expenses of the Partnership. Section 5.3
Transactions with Affiliates To the fullest extent permitted by applicable law,
the General Partner (or any Affiliate of the General Partner), when acting on
behalf of the Partnership, is hereby authorized to (a) purchase property from,
sell property to, lend money to or otherwise deal with any Affiliates, any
Partner, the Partnership, the Fund General Partner, the Fund or any Affiliate of
any of the foregoing Persons, and (b) obtain services from any Affiliates, any
Partner, the Partnership, the Fund General Partner, the Fund or any Affiliate of
the foregoing Persons. Section 5.4 Expenses (a) Subject to the arrangement
contemplated by Section 5.2(c), the Partnership will pay, or will reimburse the
General Partner for, all costs and expenses arising in connection with the
organization and operations of the Partnership. (b) Any withholding taxes
payable by the Partnership or the Fund General Partner, to the extent determined
by the General Partner to have been paid or withheld on behalf of, or by reason
of particular circumstances applicable to, one or more but fewer than all of the
Partners, shall be allocated among and debited against the Capital Accounts of
only those Partners on whose behalf such payments are made or whose particular
circumstances gave rise to such payments in accordance with Section 4.2. Section
5.5 Rights of Limited Partners (a) Limited Partners shall have no right to take
part in the management or control of the Partnership’s business, nor shall they
have any right or authority to act for the Partnership or to vote on matters
other than as set forth in this Agreement or as required by applicable law. (b)
Without limiting the generality of the foregoing, the General Partner shall have
the full and exclusive authority, without the consent of any Limited Partner, to
compromise the obligation of any Limited Partner to make a capital contribution
or to return money or other property paid or distributed to such Limited Partner
in violation of the Act. (c) Nothing in this Agreement shall entitle any Partner
to any compensation for services rendered to or on behalf of the Partnership as
an agent or in any other capacity, except for any amounts payable in accordance
with this Agreement. Section 5.6 Other Activities of Partners (a) Subject to the
Fund LP Agreement and to full compliance with the code(s) of ethics of Apollo
Global Management, LLC and its Affiliates and other written policies relating to
personal investment transactions, membership in the Partnership shall not
prohibit a Partner from purchasing or selling as a passive investor any interest
in any asset.

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14 (b) Nothing in this Agreement shall prohibit the General Partner from
engaging in any activity other than acting as General Partner hereunder. Section
5.7 Duty of Care; Indemnification (a) To the fullest extent permitted by law,
the General Partner and its Affiliates and their respective partners, members,
managers, shareholders, officers, directors, employees and associates and, with
the approval of the General Partner, any agent of any of the foregoing
(including their respective executors, heirs, assigns, successors or other legal
representatives) (each, a “Covered Person” and collectively, the “Covered
Persons”), shall not be liable to the Partnership or to any of the other
Partners for any loss, claim, damage or liability occasioned by any acts or
omissions in the performance of its services hereunder, except to the extent
that it shall ultimately be determined by final judicial decision from which
there is no further right to appeal (a “Final Adjudication”) that such loss,
claim, damage or liability is due to an act or omission of a Covered Person is
due to an act or omission of such a Covered Person that constituted a bad faith
violation of the implied contractual covenant of good faith and fair dealing.
(b) A Covered Person shall be indemnified to the fullest extent permitted by law
by the Partnership against any losses, claims, damages, liabilities and expenses
(including attorneys’ fees, judgments, fines, penalties and amounts paid in
settlement) incurred by or imposed upon it by reason of or in connection with
any action taken or omitted by such Covered Person arising out of the Covered
Person’s status as a Partner or its activities on behalf of the Partnership,
including in connection with any action, suit, investigation or proceeding
before any judicial, administrative, regulatory or legislative body or agency to
which it may be made a party or otherwise involved or with which it shall be
threatened by reason of being or having been a Partner or by reason of serving
or having served, at the request of the Fund General Partner, as a director,
officer, consultant, advisor, manager, member or partner of any enterprise in
which the Fund has or had a financial interest, including issuers of Portfolio
Investments; provided that the Partnership may, but shall not be required to,
indemnify a Covered Person with respect to any matter as to which there has been
a Final Adjudication that such Covered Person’s acts or its failure to act (i)
constituted a bad faith violation of the implied contractual covenant of good
faith and fair dealing, or (ii) were of a nature that makes indemnification by
the Fund unavailable. The right to indemnification granted by this Section 5.7
shall be in addition to any rights to which a Covered Person may otherwise be
entitled and shall inure to the benefit of the successors by operation of law or
valid assigns of such Covered Person. The Partnership shall pay the expenses
incurred by a Covered Person in defending a civil or criminal action, suit,
investigation or proceeding in advance of the final disposition of such action,
suit, investigation or proceeding, upon receipt of an undertaking by the Covered
Person to repay such payment if there shall be a Final Adjudication that it is
not entitled to indemnification as provided herein. In any suit brought by the
Covered Person to enforce a right to indemnification hereunder it shall be a
defense that the Covered Person has not met the applicable standard of conduct
set forth in this Section 5.7, and in any suit in the name of the Partnership to
recover expenses advanced pursuant to the terms of an undertaking the
Partnership shall be entitled to recover such expenses upon Final Adjudication
that the Covered Person has not met the applicable standard of conduct set forth
in this Section 5.7. In any such suit brought to enforce a right to
indemnification or to recover an advancement of expenses pursuant to the terms
of an undertaking, the burden of

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15 proving that the Covered Person is not entitled to be indemnified, or to an
advancement of expenses, shall be on the Partnership (or any Limited Partner
acting derivatively or otherwise on behalf of the Partnership or the Limited
Partners). The General Partner may not satisfy any right of indemnity or
reimbursement granted in this Section 5.7 or to which it may be otherwise
entitled except out of the assets of the Partnership (including, without
limitation, insurance proceeds and rights pursuant to indemnification
agreements), and no Partner shall be personally liable with respect to any such
claim for indemnity or reimbursement. The General Partner may enter into
appropriate indemnification agreements and/or arrangements reflective of the
provisions of this Article 5 and obtain appropriate insurance coverage on behalf
and at the expense of the Partnership to secure the Partnership’s
indemnification obligations hereunder and may enter into appropriate
indemnification agreements and/or arrangements reflective of the provisions of
this Article 5. Each Covered Person shall be deemed a third party beneficiary
(to the extent not a direct party hereto) to this Agreement and, in particular,
the provisions of this Article 5. (c) To the extent that, at law or in equity, a
Covered Person has duties (including fiduciary duties) and liabilities relating
thereto to the Partnership or the Partners, the Covered Person shall not be
liable to the Partnership or to any Partner for its good faith reliance on the
provisions of this Agreement. The provisions of this Agreement, to the extent
that they restrict or eliminate the duties and liabilities of a Covered Person
otherwise existing at law or in equity to the Partnership or the Partners, are
agreed by the parties hereto to replace such other duties and liabilities of
such Covered Person. Notwithstanding anything to the contrary contained in this
Agreement or otherwise applicable provision of law or equity, to the maximum
extent permitted by the Act, a Covered Person shall owe no duties (including
fiduciary duties) to the Partnership or the Partners other than those
specifically set forth herein; provided that a Covered Person shall have the
duty to act in accordance with the implied contractual covenant of good faith
and fair dealing. (d) Each of the Covered Persons may consult with legal
counsel, accountants and other experts selected by it and any act or omission
suffered or taken by it on behalf of the Partnership or in furtherance of the
interests of the Partnership or the Fund in good faith in reliance upon and in
accordance with the advice of such counsel, accountants or other experts shall
create a rebuttable presumption of the good faith and due care of such Covered
Person with respect to such act or omission. ARTICLE 6 ADMISSIONS, TRANSFERS AND
WITHDRAWALS Section 6.1 Admission of Additional Limited Partners; Effect on
Points The General Partner may at any time admit as an additional Limited
Partner any Person who has agreed to be bound by this Agreement, assign Points
to such Person and/or increase the Points of any existing Limited Partner. Each
additional Limited Partner shall execute either a counterpart to this Agreement
or a separate instrument evidencing, to the satisfaction of the General Partner,
such Limited Partner’s intent to become a Limited Partner and shall be admitted
as a Limited Partner upon such execution. In connection with such

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16 admission or increase in Points of any Partner (but not with respect to an
assignment of Excess Points), the Points of APH shall be reduced in an amount
determined by the General Partner. Section 6.2 Admission of Additional General
Partner and Transfer (a) The General Partner may admit one or more additional
general partners at any time without the consent of any Limited Partner. Any
additional general partner shall be admitted as a general partner upon its
execution of a counterpart signature page to this Agreement. (b) The General
Partner may Transfer its general partner interest in the Partnership to any
other Person, without the consent of any Limited Partner. Section 6.3 Transfer
of Interests of Limited Partners (a) No Transfer of any Limited Partner’s
interest in the Partnership, whether voluntary or involuntary, shall be valid or
effective, and no transferee shall become a substituted Limited Partner, unless
the prior written consent of the General Partner has been obtained, which
consent may be given or withheld by the General Partner in its discretion. In
the event of any Transfer, all of the conditions of the remainder of this
Section 6.3 must also be satisfied. (b) A Limited Partner requesting approval of
a Transfer, or such Partner’s legal representative, shall give the General
Partner reasonable notice before the proposed effective date of any requested
Transfer, and shall provide sufficient information to allow legal counsel acting
for the Partnership to make the determination that the proposed Transfer will
not: (i) require registration of the Partnership or any interest therein under
any securities or commodities laws of any jurisdiction; (ii) result in a
termination of the Partnership under section 708(b)(1)(B) of the Code or
jeopardize the status of the Partnership as a partnership for United States
federal income tax purposes; or (iii) violate, or cause the Partnership, the
Fund, the Fund General Partner, the General Partner or any Limited Partner to
violate, any applicable law, rule or regulation of any jurisdiction. Such notice
must be supported by proof of legal authority and a valid instrument of
assignment acceptable to the General Partner. (c) A permitted transferee shall
be entitled to the allocations and distributions attributable to the interest in
the Partnership transferred to such transferee and to Transfer such interest in
accordance with the terms of this Agreement; provided that such transferee shall
not be entitled to the other rights of a Limited Partner as a result of such
transfer until it becomes a substituted Limited Partner. No transferee may
become a substituted Limited Partner except with the prior written consent of
the General Partner (which consent may be given or withheld by the General
Partner in its discretion). Such transferee shall be admitted to the Partnership
as a substituted Limited Partner upon execution of a counterpart of this
Agreement or such other

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17 instrument evidencing, to the satisfaction of the General Partner, such
Limited Partner’s intent to become a Limited Partner. Notwithstanding the above,
the Partnership and the General Partner shall incur no liability for allocations
and distributions made in good faith to the transferring Limited Partner until a
written instrument of Transfer has been received and accepted by the General
Partner and recorded on the books of the Partnership and the effective date of
the Transfer has passed. (d) Any other provision of this Agreement to the
contrary notwithstanding, to the fullest extent permitted by law, any successor
or transferee of any Limited Partner’s interest in the Partnership shall be
bound by the provisions hereof. Prior to recognizing any Transfer in accordance
with this Section 6.3, the General Partner may require the transferee to make
certain representations and warranties to the Partnership and the Partners and
to accept, adopt and approve in writing all of the terms and provisions of this
Agreement. (e) In the event of a Transfer or in the event of a distribution of
assets of the Partnership to any Partner, the Partnership, at the direction of
the General Partner, may, but shall not be required to, file an election under
section 754 of the Code and in accordance with the applicable Treasury
Regulations, to cause the basis of the Partnership’s assets to be adjusted as
provided by section 734 or section 743 of the Code. (f) The Partnership shall
maintain books for the purpose of registering the transfer of interests in the
Partnership. No transfer of an interest in the Partnership shall be effective
until the transfer of such interest is registered upon books maintained for that
purpose by or on behalf of the Partnership. Section 6.4 Withdrawal of Partners
(a) A Limited Partner shall cease to be a Partner and be deemed to have
withdrawn its interest in the Partnership: (i) automatically upon any date (and
with immediate effect from such date) on which such Limited Partner (or, in the
case of a Limited Partner that was admitted to the Partnership by virtue of its
relationship with an employee of Apollo Global Management, LLC or one of its
Affiliates, such employee) ceases to be employed (for any reason, including, but
not limited to, death, disability, resignation or a termination for cause or
other than for cause) by Apollo Global Management, LLC or one of its Affiliates
(unless otherwise determined by the General Partner); (ii) automatically upon
any date (and with immediate effect from such date) on which such Limited
Partner ceases to hold any Points; provided that no such automatic withdrawal
shall occur with respect to a forfeiture of Points pursuant to Section 7.1(c)
where such Limited Partner receives an allocation of Points for the immediately
following Fiscal Year; or (iii) upon a date specified in a notice delivered by
such Limited Partner to the General Partner stating that such Limited Partner
elects to withdraw from the Partnership.

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18 (b) Payment of a withdrawing Limited Partner’s withdrawal proceeds (being an
amount equal to the balance of such Limited Partner’s capital account as of the
effective date of withdrawal as adjusted for any Loss allocable to such
withdrawn Limited Partner pursuant to Section 3.4(b)) will generally be made at
the same time as such amounts would have been distributed to such Limited
Partner under Section 4.1 had such Limited Partner not withdrawn from the
Partnership; provided that the General Partner may (i) delay such payment if
such delay is reasonably necessary to prevent such withdrawal from having a
material adverse impact on the Partnership, the Fund, the Fund General Partner
or the remaining Partners, and (ii) hold back from any payments such reserves as
the General Partner determines to be necessary or appropriate, including,
without limitation, as provided in Section 4.1(b) and Section 6.4(c). Amounts
withdrawn by a Partner will not be adjusted as a result of audit adjustments
made after the final payment date relating to the applicable withdrawal and will
not earn interest for the period from the applicable withdrawal date through the
settlement date. The General Partner may deduct from any withdrawal proceeds due
to any Partner an amount representing the actual or estimated expenses of the
Partnership associated with processing the withdrawal and any other amounts owed
by the withdrawing Partner to the General Partner or its Affiliates whether
under this Agreement or otherwise. (c) The right of any Partner to withdraw or
receive distributions pursuant to this Section 6.4 is subject to the provision
by the General Partner for all liabilities of the Partnership and for reserves
for contingencies as provided in Section 3.6 (including, in either case, for the
Partnership’s anticipated obligations under section 3.1(d) of the Fund GP
Agreement). (d) A former Partner shall remain liable to make capital
contributions to the Partnership pursuant to Section 3.1(c) and Section 4.2(a),
notwithstanding that such Person may have withdrawn from the Partnership and
ceased to be a Partner. Section 6.5 Pledges (a) A Limited Partner shall not
pledge or grant a security interest in such Limited Partner’s interest in the
Partnership unless the prior written consent of the General Partner has been
obtained (which consent may be given or withheld by the General Partner). (b)
Each limited partner interest in the Partnership shall constitute a “security”
within the meaning of, and governed by, (i) Article 8 of the Uniform Commercial
Code (including section 8-102(a)(15) thereof) as in effect from time to time in
the State of Delaware (the “DEUCC”), and (ii) Article 8 of the Uniform
Commercial Code of any other applicable jurisdiction that now or hereafter
substantially includes the 1994 revisions to Article 8 thereof as adopted by the
American Law Institute and the National Conference of Commissioners on Uniform
State Laws and approved by the American Bar Association on February 14, 1995.
Notwithstanding any provision of this Agreement to the contrary, to the extent
that any provision of this Agreement is inconsistent with any non-waivable
provision of Article 8 of the DEUCC, such provision of Article 8 of the DEUCC
shall be controlling. (c) Any limited partner interest in the Partnership may be
evidenced by a certificate of limited partnership interest issued by the
Partnership in such form as the General Partner may

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19 approve. Every certificate representing a limited partner interest in the
Partnership shall bear a legend substantially in the following form: “The
limited partner interest represented by this certificate shall constitute a
“security” within the meaning of, and governed by, (i) Article 8 of the Uniform
Commercial Code (including section 8-102(a)(15) thereof) as in effect from time
to time in the State of Delaware, and (ii) Article 8 of the Uniform Commercial
Code of any other applicable jurisdiction that now or hereafter substantially
includes the 1994 revisions to Article 8 thereof as adopted by the American Law
Institute and the National Conference of Commissioners on Uniform State Laws and
approved by the American Bar Association on February 14, 1995. The transfer of
this certificate and the limited partner interest represented hereby is
restricted as described in the limited partnership agreement of the Partnership,
dated as of July 14, 2009, as the same may be amended or restated from time to
time.” (d) The Partnership shall maintain books for the purpose of registering
the Transfer of limited partner interests in the Partnership. In connection with
a Transfer in accordance with this Agreement of any limited partner interests in
the Partnership, the endorsed certificate(s) evidencing such interest shall be
delivered to the Partnership for cancellation, and the Partnership shall
thereupon issue a new certificate to the transferee evidencing the interest that
was transferred and, if applicable, the Partnership shall issue a new
certificate to the transferor evidencing any interest registered in the name of
the transferor that was not transferred. ARTICLE 7 POINTS Section 7.1 Allocation
of Points (a) The aggregate number of Points assigned or available for
assignment to all Partners shall initially be 100. The General Partner intends
generally to allocate all 100 Points to Limited Partners other than APH. (b)
Except as otherwise provided herein, the General Partner shall be responsible
for the allocation of Points from time to time to the Limited Partners. At each
such time of allocation, all Points available for allocation shall be so
allocated to the Limited Partners (including APH) by the General Partner. Points
allocated to Limited Partners (other than APH) may not be reduced except as set
forth in Section 6.1 and this Article 7. Upon any allocation of Points (other
than Excess Points) by the General Partner to an existing or new Limited Partner
other than APH, there shall be a corresponding reduction in the Points of APH,
as provided in Section 6.1.

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20 (c) Points allocated to a Limited Partner other than APH shall be allocated
for a specific Fiscal Year only. Such Limited Partner’s Points shall
automatically be forfeited as of the close of such Fiscal Year, unless otherwise
determined by the General Partner. (d) The General Partner shall maintain on the
books and records of the Partnership a record of the number of Points allocated
to each Limited Partner and shall give notice to each Limited Partner of the
number of such Limited Partner’s Points upon admission to the Partnership of
such Limited Partner and as soon as reasonably practicable upon any change in
such Limited Partner’s Points. Section 7.2 Effect of Withdrawal on Points (a)
The Points of any Limited Partner that withdraws or is deemed to have withdrawn
from the Partnership shall be forfeited, as of the effective date of such
Limited Partner’s withdrawal or deemed withdrawal, unless otherwise determined
by the General Partner. (b) Any Points that are forfeited pursuant to Section
7.1(c) or Section 7.2(a) shall, automatically and without any action on the part
of any Person, be reallocated to APH, unless otherwise determined by the General
Partner; and no Limited Partner other than APH shall have any right or claim
with respect to such forfeited Points. Section 7.3 Points as Profits Interests
(a) Except to the extent not permitted by law, the Partnership and each Limited
Partner agree to treat Points as “profits interests” within the meaning of U.S.
Internal Revenue Service Revenue Procedure (“Rev. Proc”). 93-27, 1993-2 C.B.
343. Except to the extent not permitted by law, in accordance with Rev. Proc.
2001-43, 2001-2 C.B. 191, the Partnership shall treat each Limited Partner as
the holder of Points from the issue date of such Points, and shall file its
Partnership tax return, and issue appropriate Schedules K-1 to such Limited
Partner, allocating to such Limited Partner its distributive share of all items
of income, gain, loss, deduction and credit associated with such Points and each
such Limited Partner agrees to take into account such distributive share in
computing such Limited Partner’s U.S. federal income tax liability for the
entire period during which such Limited Partner holds such Points. Except as
required pursuant to a “Determination” as defined in section 1313(a) of the
Code, the Partnership and each Limited Partner agree not to claim a deduction
(as wages, compensation or otherwise) for the fair market value of any Points
issued to a Limited Partner at the time of issuance of the Points. The
undertakings contained in this Section 7.3(a) shall be construed in accordance
with section 4 of Rev. Proc. 2001-43. Except to the extent not permitted by law,
the provisions of this Section 7.3(a) shall apply regardless of whether the
Limited Partner files an election pursuant to section 83(b) of the Code. (b)
Notwithstanding the provisions of this Agreement, the General Partner shall have
the discretion to vary the allocations of Profit and Loss and the distributions
pursuant to this Agreement to the extent necessary to ensure that the issuance
of Points to a Limited Partner does not result, in the General Partner’s
discretion, in a taxable capital shift (unless the General Partner otherwise
intends) to such Limited Partner, including by treating as additional Profit or
Loss for the taxable period and by allocating such Profit and Loss to the
Limited Partners other

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21 than the Limited Partner receiving the Points, any unrealized appreciation or
deprecation in the Partnership’s assets as of the time the Points are issued.
ARTICLE 8 DISSOLUTION AND LIQUIDATION Section 8.1 Dissolution and Liquidation of
Partnership (a) Upon dissolution of the Partnership in accordance with the Act,
the General Partner shall liquidate the business and administrative affairs of
the Partnership, except that, if the General Partner is unable to perform this
function, a liquidator may be elected by a majority in interest (determined by
Points) of Limited Partners and upon such election such liquidator shall
liquidate the Partnership. Profit and Loss during the Fiscal Years that include
the period of liquidation shall be allocated pursuant to Section 3.4. The
proceeds from liquidation shall be distributed in the following manner: (i)
first, the debts, liabilities and obligations of the Partnership including the
expenses of liquidation (including legal and accounting expenses incurred in
connection therewith), up to and including the date that distribution of the
Partnership’s assets to the Partners has been completed, shall be satisfied
(whether by payment or by making reasonable provision for payment thereof); and
(ii) thereafter, the Partners shall be paid amounts pro rata in accordance with
and up to the positive balances of their respective Capital Accounts, as
adjusted pursuant to Article 3. (b) Anything in this Section 8.1 to the contrary
notwithstanding, the General Partner or liquidator may distribute ratably in
kind rather than in cash, upon dissolution, any assets of the Partnership in
accordance with the priorities set forth in Section 8.1(a); provided that if any
in kind distribution is to be made, the assets distributed in kind shall be
valued as of the actual date of their distribution and charged as so valued and
distributed against amounts to be paid under Section 8.1(a). ARTICLE 9 GENERAL
PROVISIONS Section 9.1 Amendment of this Agreement (a) The General Partner may
amend this Agreement at any time, in whole or in part, without the consent of
any other Partner; provided that any amendment which would increase the
obligation of any Partner to make any contribution to the capital of the
Partnership or adversely affect such Partner’s right to withdraw voluntarily
from the Partnership shall not be made unless such Partner has, at the General
Partner’s election, (i) consented thereto, or (ii) been provided with an
opportunity to withdraw from the Partnership as of a date determined by the
General Partner that is prior to the effective date of the amendment. Without
limiting the foregoing, the

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22 General Partner may amend this Agreement at any time, in whole or in part,
without the consent of any other Partner, to enable the Partnership to comply
with the requirements of the “Safe Harbor” Election within the meaning of the
Proposed Revenue Procedure of Notice 2005-43, 2005-24 IRB 1, Proposed Treasury
Regulation section 1.83-3(e)(1) or Proposed Treasury Regulation section
1.704-1(b)(4)(xii) at such time as such proposed Procedure and Regulations are
effective and to make any such other related changes as may be required by
pronouncements or Treasury Regulations issued by the Internal Revenue Service or
Treasury Department after the date of this Agreement. An adjustment of Points
shall not be considered an amendment to the extent effected in compliance with
the provisions of Section 6.1 or Article 7 as in effect on the date hereof or as
hereafter amended in compliance with the requirements of this Section 9.1(a).
(b) Notwithstanding the provisions of this Agreement, including Section 9.1(a),
it is hereby acknowledged and agreed that the General Partner on its own behalf
or on behalf of the Partnership without the approval of any Limited Partner or
any other Person may enter into one or more side letters or similar agreements
with one or more Limited Partners which have the effect of establishing rights
under, or altering or supplementing the terms of this Agreement. The parties
hereto agree that any terms contained in a side letter or similar agreement with
one or more Partners shall govern with respect to such Partner or Partners
notwithstanding the provisions of this Agreement. Any such side letters or
similar agreements shall be binding upon the Partnership or the General Partner,
as applicable, and the signatories thereto as if the terms were contained in
this Agreement. Section 9.2 Special Power-of-Attorney (a) Each Partner hereby
irrevocably makes, constitutes and appoints the General Partner with full power
of substitution, the true and lawful representative and attorney-in-fact, and in
the name, place and stead of such Partner, with the power from time to time to
make, execute, sign, acknowledge, swear to, verify, deliver, record, file and/or
publish: (i) any amendment to this Agreement which complies with the provisions
of this Agreement (including the provisions of Section 9.1); (ii) all such other
instruments, documents and certificates which, in the opinion of legal counsel
to the Partnership, may from time to time be required by the laws of the United
States of America, the State of Delaware or any other jurisdiction, or any
political subdivision or agency thereof, or which such legal counsel may deem
necessary or appropriate to effectuate, implement and continue the valid and
subsisting existence and business of the Partnership as a limited partnership;
(iii) any written notice or letter of resignation from any board seat or office
of any Person (other than a company that has a class of equity securities
registered under the Securities Exchange Act of 1934, as amended, or that is
registered under the Investment Company Act of 1940, as amended), which board
seat or office was occupied or held at the request of the Partnership or any of
its Affiliates; and (iv) all such proxies, consents, assignments and other
documents as the General Partner determines to be necessary or advisable in
connection with any merger or other

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23 reorganization, restructuring or other similar transaction entered into in
accordance with this Agreement (including the provisions of Section 9.5(c)). (b)
Each Limited Partner is aware that the terms of this Agreement permit certain
amendments to this Agreement to be effected and certain other actions to be
taken or omitted by or with respect to the Partnership without such Partner’s
consent. If an amendment of the Certificate or this Agreement or any action by
or with respect to the Partnership is taken by the General Partner in the manner
contemplated by this Agreement, each Limited Partner agrees that,
notwithstanding any objection which such Limited Partner may assert with respect
to such action, the General Partner is authorized and empowered, with full power
of substitution, to exercise the authority granted above in any manner which may
be necessary or appropriate to permit such amendment to be made or action
lawfully taken or omitted. Each Partner is fully aware that each other Partner
will rely on the effectiveness of this special power-of-attorney with a view to
the orderly administration of the affairs of the Partnership. This
power-of-attorney is a special power-of-attorney and is coupled with an interest
in favor of the General Partner and as such: (i) shall be irrevocable and
continue in full force and effect notwithstanding the subsequent death or
incapacity of any party granting this power-of-attorney, regardless of whether
the Partnership or the General Partner shall have had notice thereof; and (ii)
shall survive any Transfer by a Limited Partner of the whole or any portion of
its interest in the Partnership, except that, where the transferee thereof has
been approved by the General Partner for admission to the Partnership as a
substituted Limited Partner, this power of attorney given by the transferor
shall survive such Transfer for the sole purpose of enabling the General Partner
to execute, acknowledge and file any instrument necessary to effect such
substitution. Section 9.3 Notices Any notice required or permitted to be given
under this Agreement shall be in writing. A notice to the General Partner shall
be directed to the attention of John J. Suydam. A notice to a Limited Partner
shall be directed to such Limited Partner’s last known residence as set forth in
the books and records of the Partnership or its Affiliates (a Limited Partner’s
“Home Address”). A notice shall be considered given when delivered to the
addressee either by hand at such Partner’s Partnership office or electronically
to the primary e-mail account supplied by the Partnership for Partnership
business communications, except that a notice to a former Partner shall be
considered given when delivered by hand by a recognized overnight courier
together with mailing through the United States Postal System by regular mail to
such former Partner’s Home Address. Section 9.4 Agreement Binding Upon
Successors and Assigns This Agreement shall be binding upon and inure to the
benefit of the parties hereto and their respective successors by operation of
law, but the rights and obligations of the Limited Partners hereunder shall not
be assignable, transferable or delegable except as expressly provided

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24 herein, and any attempted assignment, transfer or delegation thereof that is
not made in accordance with such express provisions shall be void and
unenforceable. Section 9.5 Merger, Consolidation, etc. (a) Subject to Sections
9.5(b) and 9.5(c), the Partnership may merge or consolidate with or into one or
more limited partnerships formed under the Act or other business entities (as
defined in section 17-211 of the Act) pursuant to an agreement of merger or
consolidation which has been approved by the General Partner. (b) Subject to
Section 9.1(a) but notwithstanding any other provision to the contrary contained
elsewhere in this Agreement, an agreement of merger or consolidation approved in
accordance with Section 9.5(a) may, to the extent permitted by section 17-211(g)
of the Act and Section 9.5(a), (i) effect any amendment to this Agreement, (ii)
effect the adoption of a new limited partnership agreement for the Partnership
if it is the surviving or resulting limited partnership in the merger or
consolidation, or (iii) provide that the limited partnership agreement of any
other constituent limited partnership to the merger or consolidation (including
a limited partnership formed for the purpose of consummating the merger or
consolidation) shall be the limited partnership agreement of the surviving or
resulting limited partnership. (c) The General Partner may require one or more
of the Limited Partners to sell, exchange, transfer or otherwise dispose of
their interests in the Partnership in connection with any such transaction, and
each Limited Partner shall take such action as may be directed by the General
Partner to effect any such transaction. Section 9.6 Governing Law This
Agreement, and the rights of each and all of the Partners hereunder, shall be
governed by and construed in accordance with the laws of the State of Delaware,
without regard to conflict of laws rules thereof. The parties hereby consent to
the non-exclusive jurisdiction and venue for any action arising out of or
relating to this Agreement in the State Courts of the State of Delaware, New
Castle County, the State Courts of the State of New York, New York County, the
United States District Court for the District of Delaware located in New Castle
County or the United States District Court for the Southern District of New York
located in New York County. In addition to any other means available at law for
service of process, each Limited Partner hereby agrees, to the fullest extent
permitted by law, that service of process will be duly effectuated when
delivered to a Limited Partner’s Home Address by hand or by a recognized
overnight carrier together with mailing through the United States Postal System
by regular mail.

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25 Section 9.7 Termination of Right of Action Every right of action arising out
of or in connection with this Agreement by or on behalf of any past, present or
future Partner or the Partnership against any past, present or future Partner
shall, to the fullest extent permitted by applicable law, irrespective of the
place where the action may be brought and irrespective of the residence of any
such Partner, cease and be barred by the expiration of three years from the date
of the act or omission in respect of which such right of action arises. Section
9.8 Confidentiality (a) Each Limited Partner acknowledges and agrees that the
information contained in the books and records of the Partnership concerning the
Points assigned with respect to any other Limited Partner is confidential, and,
to the fullest extent permitted by applicable law, each Limited Partner waives,
and covenants not to assert, any claim or entitlement whatsoever to gain access
to any such information. The Limited Partners agree that the restrictions set
forth in this Section 9.8(a) shall constitute reasonable standards under the Act
regarding access to information. (b) Each Limited Partner acknowledges and
agrees not to, at any time, either during the term of such Limited Partner’s
participation in the Partnership or thereafter, disclose, use, publish or in any
manner reveal, directly or indirectly, to any Person (other than on a
confidential basis to such Limited Partner’s legal and tax advisors who have a
need to know such information) the contents of this Agreement or any
Confidential Information, except (i) with the prior written consent of the
General Partner, (ii) to the extent that any such information is in the public
domain other than as a result of the Limited Partner’s breach of any of his
obligations, or (iii) where required to be disclosed by court order, subpoena or
other government process; provided that, to the fullest extent permitted by law,
the Limited Partner shall promptly notify the General Partner upon becoming
aware of any such disclosure requirement and shall cooperate with any effort by
the General Partner to prevent or limit such disclosure. (c) Notwithstanding any
of the provisions of this Section 9.8, each Limited Partner may disclose to any
and all Persons, without limitation of any kind, the tax treatment and tax
structure of an investment in the Partnership and all materials of any kind
(including tax opinions or other tax analyses) that are provided to the Limited
Partner relating to such tax treatment. For this purpose, “tax treatment” is the
purported or claimed United States federal income tax treatment of a transaction
and “tax structure” is limited to any fact that may be relevant to understanding
the purported or claimed United States federal income tax treatment of a
transaction. For this purpose, the names of the Partnership, the Partners, their
affiliates, the names of their partners, members or equity holders and the
representatives, agents and tax advisors of any of the foregoing are not items
of tax structure. Section 9.9 Not for Benefit of Creditors The provisions of
this Agreement are intended only for the regulation of relations among Partners
and between Partners and former or prospective Partners and the Partnership.
Subject to the rights of Covered Persons provided by Section 5.7, this Agreement
is not intended for the

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26 benefit of any Person who is not a Partner, and no rights are intended to be
granted to any other Person who is not a Partner under this Agreement. Section
9.10 Consents Any and all consents, agreements or approvals provided for or
permitted by this Agreement shall be in writing and a signed copy thereof shall
be filed and kept with the books of the Partnership. Section 9.11 Reports As
soon as practicable after the end of each taxable year, the General Partner
shall furnish to each Limited Partner (a) such information as may be required to
enable each Limited Partner to properly report for United States federal and
state income tax purposes such Partner’s distributive share of each Partnership
item of income, gain, loss, deduction or credit for such year, and (b) a
statement of the total amount of Profit or Loss for such year and a
reconciliation of any difference between (i) such Profit or Loss and (ii) the
aggregate net profits or net losses allocated by the Fund General Partner to the
Partnership for such year. Section 9.12 Filings The Partners hereby agree to
take any measures necessary (or, if applicable, refrain from any action) to
ensure that the Partnership is treated as a partnership for United States
federal, state and local income tax purposes. Section 9.13 MiscellaneousThe
captions and titles preceding the text of each Section hereof shall be
disregarded in the construction of this Agreement. (b) As used herein, masculine
pronouns shall include the feminine and neuter, and the singular shall be deemed
to include the plural. (c) This Agreement may be executed in counterparts, each
of which shall be deemed to be an original hereof. Signature Page Follows

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Apollo Credit Opportunity CM Executive Carry I, L.P. Second Amended and Restated
Limited Partnership Agreement Signature Page IN WITNESS WHEREOF, the parties
hereto have executed this Agreement on January 12, 2011 and made effective as of
July 14, 2009. General Partner: APOLLO COF I CAPITAL MANAGEMENT, LLC By: /s/
Wendy F. Dulman Name: Wendy F. Dulman Title: Vice President Limited Partner:
APOLLO PRINCIPAL HOLDINGS V, L.P. By: Apollo Principal Holdings V GP, LLC, its
General Partner By: /s/ John J. Suydam Name: John J. Suydam Title: Vice
President

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