Document:

Form of Grant Agreement

 Exhibit 10.27 
 GRANT AGREEMENT 
 UNDER THE 

OAKTREE CAPITAL GROUP, LLC 

2011 EQUITY INCENTIVE PLAN 

This GRANT AGREEMENT (as may be amended, modified, supplemented or restated from time
to time, this “Agreement”) is effective as of [    ] (the “Effective Date”), by and among OAKTREE CAPITAL GROUP HOLDINGS, L.P.,
a Delaware limited partnership (the “Partnership”), OAKTREE CAPITAL GROUP HOLDINGS GP, LLC, a Delaware limited liability company (in its capacity as the general
partner of the Partnership, the “General Partner”), and [            ], an individual (the “Participant”). Capitalized terms used but not otherwise
defined herein shall have the meanings ascribed to them in the Oaktree Capital Group, LLC 2011 Equity Incentive Plan (the “Plan”) and the Second Amended and Restated Limited Partnership Agreement of the Partnership (the
“Partnership”), dated as of March 28, 2008 (as may be amended, modified, supplemented or restated from time to time, the “Partnership Agreement”), as applicable. 

Recitals 

WHEREAS, the Plan was adopted for purposes of promoting the long-term financial interests and growth of the Oaktree Group
by, among other things, providing select investment professionals, employees, directors, consultants and advisors of the Oaktree Group with equity-based awards based upon Units (as defined under the Plan); and 

WHEREAS, the Committee has been authorized to administer the Plan by the Board and has approved the grant and issuance of
the Granted Units (as defined below) to the Participant pursuant to the Plan, subject to the terms and conditions of the Grant Documents (as defined below). 
 NOW, THEREFORE, in consideration of the premises and the mutual agreements herein contained, the parties hereto, intending to be legally bound, hereby agree as follows:

 Agreement 
 1. Grant of Units. Subject to the terms and conditions of this Agreement, the Partnership Agreement and the other Grant Documents: 

(a) the Partnership hereby grants and issues to the Participant, and the Participant hereby accepts and receives from the
Partnership, [            ] Units of the Partnership (the “Granted Units”); 
 (b) if the Participant is not already a Limited Partner, then the Participant is hereby admitted as a Limited Partner, and each of the General Partner, the Partnership and the Participant hereby consents
to such admission; 
 (c) the Participant hereby acknowledges that he or she has received and has reviewed
carefully a copy of (i) the Partnership Agreement, the current form of which is attached as Exhibit A hereto, (ii) the Exchange Agreement, the current form of which is

 
attached as Exhibit B hereto, (iii) the Tax Receivable Agreement, the current form of which is attached as Exhibit C hereto, (iv) the Plan, the current form
of which is attached as Exhibit D hereto, and (v) each other agreement, instrument or document required by any Oaktree Group Member to be executed and delivered by the Participant in connection with the transactions contemplated
by this Agreement (collectively, including the Partnership Agreement, the Exchange Agreement, the Tax Receivable Agreement, and the Plan, as each such document may be amended, modified, supplemented or restated in accordance with its respective
terms from time to time, the “Grant Documents”); 
 (d) if the Participant is not already a
party to the Partnership Agreement, the Exchange Agreement and the Tax Receivable Agreement, then the Participant hereby joins as a party to, and agrees to be bound by each and every provision of, the Partnership Agreement, the Exchange Agreement
and the Tax Receivable Agreement; and 
 (e) for the avoidance of doubt, the Participant shall not be entitled to
receive quarterly distributions, if any, from the Partnership with respect to the Granted Units that are attributable to the fourth quarter of 2011 paid by the Partnership to its Limited Partners. 

2. Vesting of Units. Each Granted Unit shall be unvested as of the Effective Date. [Insert vesting schedule], in
each case, unless forfeited pursuant to Paragraph 3 below or accelerated pursuant to Section 4.4(e) of the Partnership Agreement. 
 3. Forfeiture of Units. The Granted Units are subject to forfeiture pursuant to Section 4.5 of the Partnership Agreement. Without limiting the immediately preceding sentence, and
except as otherwise determined by the General Partner, if the Participant ceases to provide services to the Oaktree Group (other than as a result of his or her Incapacitation), for any reason or no reason at all (including termination of such
services by any Oaktree Group Member without Cause), then all unvested Granted Units of the Participant shall be immediately and automatically forfeited on the effective date the Participant ceases to provide services to the Oaktree Group.

 4. Participant’s Obligation to Pay Taxes. 

(a) The Participant shall be responsible for any and all taxes relating to the Granted Units, including amounts due upon
the vesting of any Granted Units or relating to allocations of income with respect to the Granted Units. Without limiting Section 7.8 of the Partnership Agreement and Section 15(c) of the Plan, the Participant hereby agrees that the
Partnership has the right to require reimbursement from the Participant of any such taxes that are paid by the Partnership and to deduct any such taxes from any payment of any kind otherwise due to the Participant, including as necessary to satisfy
any foreign, U.S. federal, state or local withholding tax requirements and from payments receivable by the Participant under the Grant Documents. As security for the full, prompt and complete payment and performance when due of all of the
Participant’s obligations under this Paragraph 4 (including its obligation to reimburse the Partnership for any such taxes that are paid by the Partnership), the Participant hereby unconditionally and

  
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irrevocably grants to the Partnership a security interest in the Granted Units and on all proceeds directly or indirectly receivable by the Partnership in respect of the Granted Units (including
any distributions by the Partnership to the Participant in respect of the Granted Units and any proceeds receivable by the Participant in connection with the sale of the Granted Units). The Participant shall take such actions as the Partnership may
request from time to time to perfect or enforce such security interest and to otherwise maintain such security interest as a first priority lien in favor of the Partnership. 

(b) Without limiting the generality of clause (a) above, the General Partner may, in its sole and absolute
discretion, permit the Participant to satisfy, in whole or in part, the foregoing withholding liability by (i) the delivery of Mature Units, of the same type of Units as are subject to this Agreement, owned by the Participant having a
Fair Market Value equal to such withholding liability and any follow-on tax obligations incurred as a result of the disposition of such Mature Units (with all tax calculations to be undertaken by the General Partner in good faith and in its sole and
absolute discretion) to Oaktree Capital Group, LLC, a Delaware limited liability company (“OCG”), or any of its subsidiaries on behalf of the Partnership, as applicable or (ii) having OCG or any of its subsidiaries, or
OCG or any of its subsidiaries on behalf of the Partnership, as applicable, deliver in settlement of the Granted Units the number of vested Granted Units less a number of Units with a Fair Market Value equal to such withholding liability (but no
more than the minimum required statutory withholding liability); provided, however, that the mechanisms described in this subclauses (i) and (ii) shall only be available if and to the extent the Participant has notified the General
Partner of his or her desire to use either mechanism at least sixty (60) days (or within such other time period as the General Partner may require from time to time) before the date on which the applicable Granted Units become vested Granted
Units. 
 5. Certain Representations, Warranties, Covenants and Agreements. As an essential inducement to
the Partnership to grant and issue the Granted Units to the Participant, the Participant hereby represents and warrants to the Oaktree Group as follows: 
 (a) Authority and Capacity. The Participant has the legal capacity to execute and deliver each Grant Document and to perform all of his or her obligations thereunder. The Participant has duly
executed and delivered this Agreement, and each Grant Document constitutes the legal, valid and binding obligation of the Participant, enforceable against the Participant in accordance with their respective terms. 

(b) No Conflict; Satisfaction of Conditions to Membership Transactions. Neither the execution and delivery by the
Participant of any Grant Document, nor the performance by the Participant of his or her obligations thereunder, violates, conflicts with or constitutes a default or breach under, or will violate, conflict with or constitute a default or breach under
any applicable law or any contract, indenture, agreement, instrument or mortgage binding on the Participant or any of his or her properties. To the best knowledge of the Participant, neither the grant and issuance of the Granted Units to the
Participant, nor the ownership by the Participant of the Granted Units, nor the status of the Participant as a Limited Partner: 

  
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	 	(i)	would reasonably be expected to result in the violation by the Partnership, the General Partner or any other Oaktree Related Person (as defined below) of any applicable
law, including any applicable U.S. federal or state securities laws; 

  

	 	(ii)	would reasonably be expected to terminate the existence or qualification of the Partnership under the laws of any jurisdiction; 

 

	 	(iii)	would reasonably be expected to cause the Partnership to be treated as an association taxable as a corporation or otherwise to be taxed as an entity for U.S. federal
income tax purposes (to the extent not already so treated or taxed); or 

  

	 	(iv)	would reasonably be expected to subject the Partnership, the General Partner or any other Oaktree Related Person to any material regulatory requirement to which it, he
or she otherwise would not be subject, including any requirement that the Partnership register as an investment company under the Investment Company Act or as a result of all or any portion of the Partnership’s assets becoming or being deemed
to be “plan assets” for purposes of ERISA. 

 (c) Suitability. The Participant
meets all suitability standards or eligibility requirements imposed by the jurisdiction of his or her residence for his or her acquisition of the Granted Units pursuant to the Grant Documents. The Participant has such knowledge and experience in
financial and business matters that he or she is capable of evaluating the merits and risks of an investment in the Granted Units and protecting his or her own interests in connection with such investment. 

(d) Access to Information. The Participant (i) has been provided with ample opportunity to discuss each
Grant Document, the Granted Units and the Oaktree Business (as defined below) with the General Partner and to ask the General Partner such questions regarding each Grant Document, the Granted Units and the Oaktree Business, and to receive such
answers to such questions and such other information, as the Participant deems necessary, appropriate or advisable, and (ii) has been provided with ample opportunity to consult with such legal, tax, financial and other advisors of the
Participant regarding each Grant Document, the Granted Units and the Oaktree Business as the Participant deems necessary, appropriate or advisable. The Participant has a preexisting personal and business relationship with the principals of the
Oaktree Group, and such personal and business relationship is of a nature and duration so as to enable the Participant to be aware of their character, business acumen and general business and financial circumstances. 

(e) Independent Investment Decision. The Participant is relying on his or her own independent investigation and the
information contained in the Grant Documents, and the Participant is not relying on any Person (other than his or her own legal, tax, financial and other advisors) or any representation or warranty made by any Oaktree

  
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Related Person, in each case, in deciding to own and hold the Granted Units. Without limiting the foregoing, no representation or warranty has been made to the Participant by any Oaktree Related
Person as to the existing value or the future performance of the Oaktree Business. 
 (f) Investment
Intent. The Participant will own and hold the Granted Units for his or her own account, as a principal, for investment purposes only, and not with a view to, or for, resale or distribution, in whole or in part. No other Person has a direct or
indirect beneficial interest in the Granted Units (other than, if the Participant is a married natural person acquiring the Granted Units as community property, the community property interest of the Participant’s spouse). The Participant is
not acting as an agent, representative, intermediary or nominee, or in any similar capacity, for or on behalf of any other Person with respect to any Granted Units. 

(g) Restricted Securities. The Participant understands that the grant and issuance hereunder of the Granted Units
are intended to be exempt from registration under the U.S. Securities Act of 1933, as amended (the “Securities Act”), state securities laws and other applicable foreign or domestic securities laws. The Participant further
understands that the Granted Units have not been recommended or endorsed by the U.S. Securities and Exchange Commission, any state securities commission or any other foreign or domestic governmental authority. No Transfer of the Granted Units will
be made by the Participant except for Transfers that comply with all applicable laws, including the Securities Act, and the provisions of the Grant Documents, including the restrictions on Transfer set forth in Section 4.6 of the Partnership
Agreement. Although the Grant Documents contemplate that the Participant may be able to monetize vested Granted Units pursuant to Article VI of the Partnership Agreement and the provisions of the Exchange Agreement, the Participant understands that
there is no assurance that (i) the Participant will actually be able to monetize, Transfer or otherwise realize value from such Granted Units and (ii) any such monetization, Transfer or other realization will be at a price or
upon terms and conditions that are satisfactory to the Participant. The Participant further understands that Oaktree Group is under no obligation to ensure (i) that any Issuer Equity will continue to be tradable on the GSTrUE OTC market,
any national securities exchange or any other market or trading platform or (ii) that other avenues of liquidity will be made available to the Participant with respect to the Granted Units. The Participant is able and willing to bear,
and has the financial ability to bear, the economic and other risks of his or her ownership in the Granted Units for an indefinite period of time. The Participant has no need for liquidity with respect to the Granted Units. 

(h) Accredited Investor. The Participant is an “accredited investor” within the meaning of Rule 501 of
Regulation D promulgated under the Securities Act. Without limiting the foregoing, the Participant is a natural person, who (i) has a net worth individually or jointly with his or her spouse that exceeds $1,000,000 at the time of the
grant and issuance of the Granted Units (excluding the value of the Participant’s primary residence and the related amount of indebtedness secured by the primary residence up to the fair market value of the residence but including as a
liability any indebtedness secured by such residence in excess of the fair market value of such residence) or (ii) had annual 

  
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income in excess of $200,000 in each of the two most recent calendar years (e.g., if the current calendar year is 2012, then in each of 2011 and 2010) and reasonably expects to have income in
excess of $200,000 in the current calendar year; or (iii) had annual income jointly with his or her spouse in excess of $300,000 in each of the two most recent calendar years (e.g., if the current calendar year is 2012, then in each of
2011 and 2010) and reasonably expects to have joint income in excess of $300,000 in the current calendar year. 

(i) Tax Consequences. The Participant understands that his or her ownership of the Granted Units may cause him or
her adverse tax consequences, including the realization of taxable income without receiving cash distributions to pay the required tax thereon. For example, the Participant may be taxed upon the vesting of the Granted Units on the value of the
vesting Granted Units. Moreover, although it is contemplated that the Partnership will make cash distributions in respect of the Granted Units from time to time, the Participant understands that there is no obligation for the Partnership to make any
distribution (including tax distributions) to its Limited Partners (including the Participant). The Participant further understands that even if the Partnership were to make cash distributions from time to time, there is no assurance that such cash
distributions will be made in sufficient amounts or at an opportune time so as to enable the Participant to pay in a timely manner any taxes that the Participant may be required to pay in respect of the Granted Units. The Participant has sufficient
liquid resources to pay all taxes that the Participant may be required to pay in respect of the Granted Units, including all taxes arising from the vesting of the Granted Units or allocations of taxable income of the Partnership to the Participant
with respect to the Granted Units. The Participant has reviewed his or her investment in the Granted Units with his or her tax advisors and has not received or relied upon any tax advice from any Oaktree Related Person. No Oaktree Related Person has
made any representation or warranty (and shall not otherwise be liable to the Participant) as to the tax treatment of vesting, allocations or distributions with respect to the Granted Units under applicable law. 

(j) Understanding of Grant Documents. The Participant understands each provision of each Grant Document and the
terms and conditions of the Granted Units. Without limiting the foregoing, the Participant understands that: 
  

	 	(i)	the Participant has irrevocably constituted and appointed each of the Partnership, the General Partner, their respective authorized officers and attorneys-in-fact, and
the members of the General Partner with full power of substitution, as the true and lawful attorney-in-fact and agent of the Participant as set forth in Section 3.9 of the Partnership Agreement for the purposes set forth therein;

  

	 	(ii)	the Partnership Agreement permits the Partnership to issue, at any time and from time to time, without the approval of the Participant or the need to notify the
Participant, additional Units on such terms and conditions as the General Partner may determine, including Units that may be senior or superior to the Granted Units; 

  
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	 	(iii)	the Participant does not have any preemptive rights, right of first refusal, right of first offer or other right of participation with respect to any such issuance, and
such issuances are expected to have a dilutive effect on the Participant’s interest in the Partnership; 

  

	 	(iv)	amounts distributable to the Participant in respect of the Granted Units are subject to withholding pursuant to Section 7.8 of the Partnership Agreement; and

  

	 	(v)	the Participant, as a Service Partner, is subject to the restrictive covenants set forth in Article X of the Partnership Agreement, which includes covenants and
prohibitions to which the Participant will continue to be bound after the Participant ceases to provide services to the Oaktree Group. 

 The Participant has given careful consideration to all of the provisions of the Grant Documents. For the avoidance of doubt, and without limiting the immediately preceding sentence, the Participant
(x) has given careful consideration to the restraints imposed upon him or her under the Grant Documents, including under Articles IV and X of the Partnership Agreement, (y) is in full accord as to the necessity of such
provisions, and (z) understand that his or her agreement to be bound by each such provision is an essential inducement to the Partnership to grant and issue the Granted Units to the Participant. 

If the Participant becomes aware that any representation or warranty made by him or her in any Grant Document would be incorrect in any material respect
if such representation or warranty were to be made as of any subsequent date, or that the Participant is unable fulfill or perform in any material respect any of his or her covenants or agreements in any Grant Document, the Participant shall
promptly notify the General Partner of such inaccuracy or inability. 
 6. Incorporation of Partnership Agreement
Provisions. The provisions of Article XII of the Partnership Agreement (other than Section 12.3 of the Partnership Agreement) are hereby incorporated herein by reference and shall apply mutatis mutandis to this Agreement. Without
limiting the foregoing: 
 (a) any and all disputes, claims or controversies arising out of or relating to this
Agreement shall be resolved pursuant to Section 12.1 of the Partnership Agreement; 
 (b) this Agreement may
be amended, modified, or waived with the written consent of the General Partner; provided that if any such amendment, modification, or waiver would adversely affect the Participant in any material respect, such amendment, modification, or
waiver shall also require the written consent of the Participant; provided further that, for the avoidance of doubt, the Partnership Agreement may be amended, modified and waived pursuant to Section 12.5 of the Partnership Agreement, and
the Plan may be amended, modified and waived pursuant to Section 14(a) of the Plan, and, in each case, no such amendment, modification or waiver shall be deemed to be an amendment, modification or waiver of this Agreement; 

  
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 (c) any notice that is required or permitted hereunder to be given to any
party hereto shall be given pursuant to Section 12.6 of the Partnership Agreement; 
 (d) in accordance with
Section 12.9 of the Partnership Agreement, this Agreement shall be construed and enforced, along with any rights, remedies, or obligations provided for hereunder, in accordance with the laws of the State of Delaware applicable to contracts made
and to be performed entirely within the State of Delaware by residents of the State of Delaware; provided that the enforceability of Paragraph 6(a) shall be governed by the Federal Arbitration Act, 9 U.S.C. Section 1 et
seq., and not the laws of the State of Delaware; and 
 (e) in accordance with Section 12.12 of the
Partnership Agreement, this Agreement may be executed in one or more counterparts, all of which shall constitute one and the same instrument. 
 7. Entire Agreement. The Grant Documents constitute the entire agreement among the parties hereto with respect to the subject matter hereof, and supersede any prior agreement or
understanding among them with respect to such matter; provided that in the event of any conflict between the Exchange Agreement and the Partnership Agreement, the Partnership Agreement shall prevail. 

8. Interpretation and Certain Definitions. 

(a) All ambiguities shall be resolved without reference to which party may have drafted this Agreement. All article or
section headings or other captions in this Agreement are for convenience only, and they shall not be deemed part of this Agreement and in no way define, limit, extend or describe the scope or intent of any provisions hereof. Unless the context
clearly indicates otherwise: (i) a term has the meaning assigned to it; (ii) “or” is not exclusive; (iii) provisions apply to successive events and transactions; (iv) each definition herein
includes the singular and the plural; (v) each reference herein to any gender includes the masculine, feminine, and neuter where appropriate; (vi) the word “including” when used herein means “including, but not
limited to,” and the word “include” when used herein means “include, without limitation”; and (vii) references herein to specified paragraph numbers refer to the specified paragraph of this Agreement. The words
“hereof,” “herein,” “hereto,” “hereby,” “hereunder,” and derivative or similar words refer to this Agreement as a whole and not to any particular provision of this Agreement. The words
“applicable law” and any other similar references to the law include all applicable statutes, laws (including common law), treaties, orders, rules, regulations, determinations, orders, judgments, and decrees of any Governmental Authority.
The abbreviation “U.S.” refers to the United States of America. All monetary amounts expressed herein by the use of the words “U.S. dollar” or “U.S. dollars” or the symbol “$” are expressed in the lawful
currency of the United States of America. The words “foreign” and “domestic” shall be interpreted by reference to the United States of America. 

(b) Nothing in this Agreement is intended to confer upon the Participant any right or privilege that is in addition, or
otherwise more favorable, to the rights and 

  
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privileges generally enjoyed by the other Limited Partners under the Partnership Agreement, the Exchange Agreement and the Tax Receivable Agreement, except to the extent such additional or more
favorable right or privilege is expressly and intentionally conferred hereunder. Without limiting the foregoing, the Granted Units are not subject to any Unit Designation which alters the terms and conditions generally applicable to Units under the
Partnership Agreement. 
 (c) “Oaktree Business” means the business and operations of the
Oaktree Group, including the organization, investment objectives, expenses, operational structure, management structure and other material details of the Oaktree Group. 

(d) “Oaktree Related Person” means (i) any Oaktree Group Member, (ii) the current
and former principals, officers, directors, employees and duly authorized agents and representatives of any Oaktree Group Member, and (iii) the current and former direct and indirect shareholders, partners, members and equityholders of
any Oaktree Group Member (other than the current and former direct and indirect shareholders, partners, members and equityholders of OCG, who are not otherwise included in either of the foregoing clause (i) or (ii)). 

(e) This Agreement is intended to constitute a “Grant Agreement” for purposes of the Partnership Agreement and
an “Award agreement” for purposes of the Plan. The Granted Units are intended to constitute an “Award” for purposes of the Plan. 
 9. Further Assurances. The Participant agrees to take all actions that may be reasonably requested by the General Partner from time to time, including by executing and delivering all
agreements, instruments and documents that may be reasonably requested by the General Partner, to carry out the purposes of the Grant Documents. 

  
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 IN WITNESS WHEREOF, the undersigned have duly
executed this Agreement as of the date first written above. 
  

			
	 PARTNERSHIP AND GENERAL PARTNER
  

OAKTREE CAPITAL GROUP HOLDINGS GP, LLC

 
 On behalf of itself and as general partner on behalf of OAKTREE
CAPITAL GROUP HOLDINGS, L.P.

		
	By:	 	 
		 	 Name:

Title:

		
	By:	 	 
		 	 Name:

Title:

	
	 PARTICIPANT
  

 

[                        
]

 THE GRANTED UNITS HAVE NOT BEEN REGISTERED WITH OR QUALIFIED BY THE U.S. SECURITIES AND EXCHANGE COMMISSION, ANY
STATE SECURITIES REGULATORY AUTHORITY OR ANY OTHER REGULATORY AUTHORITY OF ANY OTHER JURISDICTION. SUCH UNITS ARE BEING SOLD IN RELIANCE UPON EXEMPTIONS FROM SUCH REGISTRATION OR QUALIFICATION REQUIREMENTS. THE GRANTED UNITS CANNOT BE SOLD,
TRANSFERRED, ASSIGNED OR OTHERWISE DISPOSED OF, IN EACH CASE, EXCEPT IN COMPLIANCE WITH THE RESTRICTIONS ON TRANSFERABILITY CONTAINED IN THIS AGREEMENT AND OTHER GRANT DOCUMENTS AND THE SECURITIES LAWS OF ALL APPLICABLE JURISDICTIONS, INCLUDING
APPLICABLE U.S. FEDERAL AND STATE SECURITIES LAWS. 

 IN WITNESS WHEREOF, the undersigned have duly
executed this Agreement as of the date first written above. 
  

			
	 PARTNERSHIP AND GENERAL PARTNER
  

OAKTREE CAPITAL GROUP HOLDINGS GP, LLC

 
 On behalf of itself and as general partner on behalf of OAKTREE
CAPITAL GROUP HOLDINGS, L.P.

		
	By:	 	 
		 	 Name:

Title:

		
	By:	 	 
		 	 Name:

Title:

	
	 PARTICIPANT
  

 

[                        
]

 THE GRANTED UNITS HAVE NOT BEEN REGISTERED WITH OR QUALIFIED BY THE U.S. SECURITIES AND EXCHANGE COMMISSION, ANY
STATE SECURITIES REGULATORY AUTHORITY OR ANY OTHER REGULATORY AUTHORITY OF ANY OTHER JURISDICTION. SUCH UNITS ARE BEING SOLD IN RELIANCE UPON EXEMPTIONS FROM SUCH REGISTRATION OR QUALIFICATION REQUIREMENTS. THE GRANTED UNITS CANNOT BE SOLD,
TRANSFERRED, ASSIGNED OR OTHERWISE DISPOSED OF, IN EACH CASE, EXCEPT IN COMPLIANCE WITH THE RESTRICTIONS ON TRANSFERABILITY CONTAINED IN THIS AGREEMENT AND OTHER GRANT DOCUMENTS AND THE SECURITIES LAWS OF ALL APPLICABLE JURISDICTIONS, INCLUDING
APPLICABLE U.S. FEDERAL AND STATE SECURITIES LAWS. 

 CONSENT OF SPOUSE 

The undersigned hereby acknowledges and agrees as follows: 
 1. I,                     , am married to
                    , and my spouse and I are residents of the State of
                    . 
 2.
I have read and understand the provisions of the Grant Agreement, dated as of January [            ], 2012 (as may be amended, modified, supplemented or restated from time to time, the
“Grant Agreement”), to which this Consent of Spouse is attached. Capitalized terms used but not otherwise defined in this Consent of Spouse shall have the meanings ascribed to them in the Grant Agreement. I have read and understand the
provisions of each of the Partnership Agreement, the Exchange Agreement, the Tax Receivable Agreement and each other Grant Document (if any). 
 3. My spouse has the primary management of and control over any community or quasi-community property interest that I may have in Oaktree Capital Group Holdings, L.P., a Delaware limited partnership (the
“Partnership”), including any community or quasi-community property interest that I may have in the Granted Units. 

4. I hereby approve all of the provisions of the Grant Agreement, the Partnership Agreement, the Exchange Agreement, the Tax Receivable
Agreement and each other Grant Document (if any). I further approve the execution and delivery by my spouse, and the performance of his or her obligations under, each of the Grant Agreement, the Partnership Agreement, the Exchange Agreement, the Tax
Receivable Agreement and each other Grant Document (if any). I agree that the Granted Units are subject to the provisions of the Grant Agreement, the Partnership Agreement, the Exchange Agreement, the Tax Receivable Agreement and each other Grant
Document (if any) and further agree not to take any action at any time to hinder the operation of the Grant Agreement, the Partnership Agreement, the Exchange Agreement, the Tax Receivable Agreement or any other Grant Document (if any) or the
Granted Units. 
 5. Without limiting the other provisions of this Consent of Spouse, I understand and agree that the Granted
Units are subject to forfeiture under Section 4.5 of the Partnership Agreement and Paragraph 3 of the Grant Agreement. 

6. I understand that, if the Granted Units are owned as quasi-community or community property under the laws of any state, and a division
of such quasi-community or community property between my spouse and me were to occur pursuant to a decree of divorce or dissolution, property settlement agreement or otherwise, the application of such division to the Granted Units will be subject to
Section 12.2 of the Partnership Agreement. 
 7. I represent and warrant that I have been given full access and disclosure
of all facts surrounding the Granted Units, have not been induced to enter into this Consent of Spouse as a result of mistake, undue influence, misrepresentation, false promise, concealment, non-disclosure or any other breach of a confidential
relationship, have had ample opportunity to receive independent legal and other advice with respect to my execution and delivery of this Consent of Spouse and am freely and voluntarily executing and delivering this Consent of Spouse. 

This Consent of Spouse is made effective as of
                            , at
                    . 
  

	
	  
 Signature

	
	  
 Print NameExhibit 10.1

 Exhibit 10.1 
 IRIDIUM COMMUNICATIONS INC. 

2009 STOCK INCENTIVE PLAN 

PERFORMANCE SHARE PROGRAM 

ADOPTED: FEBRUARY 22, 2012 

1. Purpose. The Iridium Communications Inc. Performance Share Program (the “Program”), established under
the Iridium Communications Inc. 2009 Stock Incentive Plan (the “2009 Plan”), is intended to provide equity incentive compensation to individuals who make a significant contribution to the performance of Iridium Communications
Inc. (the “Company”). Program objectives are to: (i) focus key Employees on achieving specific performance targets; (ii) reinforce a team-oriented approach; (iii) provide significant award potential for
achieving outstanding performance; and (iv) enhance the ability of the Company to attract and retain highly talented and competent individuals. 
 2. Definitions. 
 Capitalized terms not explicitly defined in this Program
but defined in the 2009 Plan will have the same definitions as in the 2009 Plan. 
 (a) “Actual
Award” means the number of Shares ultimately credited to a Designated Participant under the Program at the end of a Performance Period based on achievement of applicable Performance Goals and Other Performance Goals, which may be
subject to a subsequent additional vesting period set forth in the awards agreement approved for use by the Committee under the Program. 
 (b) “Board” means the Board of Directors of the Company. 
 (c) “Certification Date” means the date on which the Committee certifies whether the Performance Goals for a particular Performance Period have been met and whether any
reductions in the Maximum Awards should be made on account of the degree of achievement of the Other Performance Goals. Absent extraordinary circumstances that delay the finalization of the Company’s audited financial statements for the
Performance Period beyond March 14 of the year following the close of such Performance Period, the Certification Date will be no later than March 15 of the year following the close of the Performance Period. 

(d) “Committee” means the Compensation Committee of the Board (or subcommittee thereof), or such other
committee of the Board (including, without limitation, the full Board) to which the Board has delegated power to act under or pursuant to the provisions of the 2009 Plan; provided, however, that for purposes of administering the 2009 Plan
with respect to Designated Participants who are or may be deemed “covered employees” (as defined for purposes of Section 162(m) of the Code), the “Committee” will be composed solely of two or more members of the Board, each
of whom is an “outside director” for purposes of Section 162(m) of the Code. 
 (e)
“Disability” means, with respect to a Designated Participant, the inability of such Designated Participant to engage in any substantial gainful activity by reason of any medically determinable physical or mental
impairment which can be expected to result in death or can be expected to last for a continuous period of not less than twelve (12) months, as provided in Section 22(e)(3) and 409A(a)(2)(C)(i) of the Code. 

 (f) “Designated Participant” means a key Employee of the
Company or any other Affiliate who is designated by the Committee in writing to participate in the Program. 
 (g)
“Employee” means any person treated as an employee (including an officer or a member of the Board who is also treated as an employee) in the records of the Company or an Affiliate. 

(h) “Maximum Award” means a “restricted stock unit award” that covers the maximum number of
Shares that may be credited to a Designated Participant under the Program in respect of a specified Performance Period if the applicable Performance Goals are achieved at the levels set by the Committee during the applicable Performance Period, if
no exercise of negative discretion occurs as a result of the application of the Other Performance Goals, and if the Designated Participant continues to render service to the Company or any other Affiliate during the entire Performance Period,
through the Certification Date and any subsequent vesting period thereafter. 
 (i) “Other Performance
Goal” means a performance goal established by the Committee that is not an expressly enumerated Performance Goal established pursuant to Section 8(b) of the 2009 Plan and/or that is not calculated in a manner that would allow for
deductibility under Section 162(m) of the Code. 
 (j) “Performance Goal” means a
performance goal established by the Committee pursuant to Section 8(b) of the 2009 Plan and that is calculated in a manner that would allow for deductibility under Section 162(m) of the Code. 

(k) “Performance Period” means the period of time selected by the Committee over which the attainment of
one or more Performance Goals and Other Performance Goals will be measured for the purpose of determining a Designated Participant’s right to an Actual Award. At the discretion of the Committee, a Performance Period may be divided into shorter
periods (e.g., fiscal years of the Company) over which the attainment of one or more Performance Goals will be measured. 

(l) “Target Award” means the target number of Shares that would be credited to a Designated Participant
under the Program in respect of the Performance Period if the Performance Goals are achieved at a target level specified by the Committee and the Other Performance Goals are achieved. The Maximum Award is calculated by reference to the Target Award.

 3. How Awards Are Earned Under the Program. 
 (a) General Program Description. The Program provides the opportunity for certain key Employees to earn Shares based on the performance of the Company. In general, the Committee will
select certain key Employees to participate in the Program at the beginning of the Performance Period. Upon selection to participate in the Program, each such Designated Participant will be granted a Maximum Award reflecting the maximum number of
Shares that the Designated Participant will be eligible to earn and vest in as an Actual Award if (i) specified levels of applicable Performance Goals are achieved during the Performance Period, (ii) the Committee does not reduce the
Maximum Award on account of the degree of achievement of the Other Performance Goals, and (iii) the Designated 

 
Participant continues to be employed by the Company or any other Affiliate during the entire Performance Period and through the Certification Date and any subsequent additional vesting period. If
the Committee does reduce the Maximum Award on account of the degree of achievement of applicable Other Performance Goals, the Actual Award for the Designated Participant will be the applicable portion (or none) of the Shares subject to the Maximum
Award. If the specified minimum levels of the Performance Goals are not achieved during the Performance Period, the Designated Participant will forfeit his entire Maximum Award and not receive any Actual Award. The maximum number of Shares that a
Designated Participant may receive as an Actual Award will in no event exceed the Maximum Award. As required by Section 8(b) of the 2009 Plan and in accordance with Section 162(m) of the Code, in no event may the Maximum Award for any
Designated Participant granted during a calendar year exceed 2,000,000 Shares. 
 (b) Designated
Participants. Each key Employee of the Company or any other Affiliate who is designated by the Committee in writing for participation in the Program for a particular Performance Period will be eligible for a Maximum Award (in a size
determined by the Committee) with respect to such Performance Period. The Committee may designate a key Employee who commences service after the beginning of a particular Performance Period as eligible to receive a prorated Maximum Award for such
Performance Period. The determination as to whether an individual is a Designated Participant will be made by the Committee, in its sole discretion, and such determination will be binding and conclusive on all persons. 

No Employee will have any right to (i) be a Designated Participant in the Program in the current or any future year,
(ii) continue as an Employee, or (iii) be granted a Maximum Award or Actual Award under the Program. The Company is not obligated to give uniform treatment (e.g., number of Shares subject to Maximum Awards) to Employees or
Designated Participants under the Program. Participation in the Program as to a particular Performance Period does not convey any right to participate in the Program as to any other Performance Period. 

(c) Performance Goals and Other Performance Goals. The Performance Goals and Other Performance Goals, if applicable,
for a particular Performance Period, and their relative weights, will be determined by the Committee, in its sole discretion. The Committee also may establish, in its sole discretion, Performance Goals and Other Performance Goals for annual,
quarterly or other periods within the applicable Performance Period. The Performance Goals and Other Performance Goals for a Performance Period or for shorter periods within a Performance Period are not required to be identical to the Performance
Goals and Other Performance Goals for any other Performance Period or shorter period within a Performance Period. The Committee may establish Performance Goals and Other Performance Goals for the Company that differ from those established for one or
more other Affiliates and may establish different Performance Goals and Other Performance Goals for each Designated Participant or for groups of Designated Participants. 
 4. Other Program Provisions. 
 (a) Distribution of Shares in
Respect of Actual Awards. Assessment of actual performance, determination of Actual Awards and the distribution of Shares in respect of Actual Awards will be subject to (i) certification by the Committee that the applicable Performance
Goals and other terms of the Program have been met, (ii) the Committee’s determination as to the appropriate reductions, if any, in the amounts of the Maximum Awards in arriving at the amounts of the Actual Awards, based on the

 
levels of achievement of applicable Other Performance Goals, and (iii) the completion of any subsequent additional vesting period. Unless an Actual Award provides otherwise, Shares that are
credited to a Designated Participant as an Actual Award will generally be distributed to the Designated Participant (or the Designated Participant’s heirs in the case of death) within 30 days following the applicable vesting date.
Notwithstanding the foregoing, if the Company has provided a Designated Participant with a plan or program by which to defer distribution of such Shares and the Designated Participant has made an effective election to defer such distribution under
such plan or program, such Shares will be distributed to the Designated Participant (or the Designated Participant’s heirs in the case of death) in accordance with such election. The Company may, but is not required to, withhold Shares
otherwise deliverable to the Designated Participant in satisfaction of any federal, state or local tax withholding obligation relating to the delivery of Shares under the Actual Award, but the number of Shares so withheld will not exceed the amount
necessary to satisfy the Company’s required tax withholding obligations using the minimum statutory withholding rates for federal, state, local and foreign tax purposes, including payroll taxes, that are applicable to supplemental taxable
income. 
 (b) Employment and Termination. In order to earn Shares in respect of an Actual Award under the
Program, a Designated Participant must be Employed by the Company or any other Affiliate during the entire Performance Period, through the Certification Date, and for any subsequent additional vesting period, except as otherwise provided under the
terms of the applicable award agreement. 
 (c) No Employment or Service Rights. Nothing in the Program or
any instrument executed or any Maximum Award or Actual Award granted pursuant to the Program will (i) confer upon any Employee or Designated Participant any right to continue to be retained in the employ or service of the Company or any other
Affiliate, (ii) change the at-will employment relationship between the Company or any other Affiliate and an Employee or Designated Participant, or (iii) interfere with the right of the Company or any other Affiliate to discharge any
Employee, Designated Participant or other person at any time, with or without cause, and with or without advance notice. 

(d) Program Administration. The Committee will be responsible for all decisions and recommendations regarding
Program administration and retains final authority regarding all aspects of Program administration, the resolution of any disputes, and application of the Program in any respect to a Designated Participant. All determinations and interpretations
made by the Committee in good faith will not be subject to review by any person and will be final, binding and conclusive on all persons. The Committee may, without notice, amend, suspend or terminate the Program; provided, however, that no
such action may adversely affect any then outstanding Actual Award unless (i) expressly provided by the Committee and (ii) with the consent of the Designated Participant, unless such action is necessary to comply with any applicable law,
regulation or rule. 
 (e) Restricted Stock Units; Stockholder Rights. Awards granted under this
Program are “restricted stock units”. As such, no Designated Participant will be deemed to be the holder of, or to have any of the rights of a holder with respect to, any Shares subject to a Maximum Award or an Actual Award (including,
without limitation, the right to receive dividends) unless and until such Designated Participant has received an Actual Award under the Program, has vested in the Shares subject to the Actual Award and has received delivery of such Shares.

 (f) Validity. If any provision of the Program is held invalid, void, or
unenforceable, the same will not affect, in any respect whatsoever, the validity of any other provision of the Program. 

(g) Governing Plan Document. The Program is subject to all the provisions of the 2009 Plan and is further
subject to all interpretations, amendments, rules and regulations which may from time to time be promulgated and adopted by the Committee, the Board or the Company pursuant to the 2009 Plan. In the event of any conflict between the provisions of
this Program and those of the 2009 Plan, the provisions of the 2009 Plan will control unless necessary for compliance with Section 162(m) of the Code. 
 (h) Recovery. Any amounts paid under this Program will be subject to recoupment in accordance with any clawback policy that the Company is required to adopt pursuant to the listing
standards of any national securities exchange or association on which the Company’s securities are listed or as is otherwise required by the Dodd-Frank Wall Street Reform and Consumer Protection Act or other applicable law. No recovery of
compensation under such a clawback policy will be an event giving rise to a right to resign for “good reason” or “constructive termination” (or similar term) under any plan of or agreement with the Company.

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