Document:

Amended and Restated Exchange Agreement

 Exhibit 10.1 
 AMENDED AND RESTATED EXCHANGE AGREEMENT 
 AMENDED AND RESTATED EXCHANGE
AGREEMENT (as amended, restated or supplemented, the “Agreement”), dated as of August 1, 2012, by and among the Issuer, Och-Ziff Corp, Och-Ziff Holding, OZ Management, OZ Advisors, OZ Advisors II and the Och-Ziff Limited
Partners and Class B Shareholders from time to time party hereto. Defined terms used herein have the respective meanings ascribed thereto in Section 1.1. 
 WHEREAS, the parties hereto provided for the exchange of certain Och-Ziff Operating Group Units for Class A Shares (or a cash equivalent), on the terms and subject to the conditions set forth in the
original Exchange Agreement dated as of November 13, 2007, as amended on May 19, 2010; 
 WHEREAS, the obligation to
exchange Och-Ziff Operating Group Units for Class A Shares (or a cash equivalent) pursuant to Section 2.1(a)(ii) of this Agreement represents a several, and not a joint and several, obligation of each Och-Ziff Operating Group Partnership
(on a pro rata basis), and no Och-Ziff Operating Group Partnership shall have any obligation or right to acquire the portion of Och-Ziff Operating Group Units issued by another Och-Ziff Operating Group Partnership; 

WHEREAS, the parties hereto desire to amend and restate the Agreement as set forth herein; 

NOW, THEREFORE, in consideration of the mutual covenants and undertakings contained herein and for good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows: 
 ARTICLE I

 DEFINITIONS 
 Section 1.1 Definitions. 
 The following definitions shall be for all
purposes, unless otherwise clearly indicated to the contrary, applied to the terms used in this Agreement. 
 “A
Exchange” has the meaning set forth in Section 2.1(a)(i) of this Agreement. 
 “Affiliate” means,
with respect to any Person, any other Person that, directly or indirectly, through one or more intermediaries, Controls, is Controlled by, or is under common Control with, such first Person. 

“Aggregate Value” means, with respect to any Vested Och-Ziff Operating Group A Units surrendered for Exchange, an amount
equal to the product of (a) the number of Vested Och-Ziff Operating Group A Units so surrendered multiplied by (b) the Exchange Rate, and such product further multiplied by (c) the Value of a Class A Share. 

  
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 “Agreement” has the meaning set forth in the preamble of this Agreement.

 “Applicable Partner Group” shall mean, with respect to any Exchanging Partner, collectively, (i) such
Exchanging Partner, (ii) any Related Trust of such Exchanging Partner, and (iii) any Applicable Transferee of any Class B Transferor included in clause (i) or (ii) above. 

“Applicable Transferee” shall mean, with respect to any Class B Transferor, any Class B Transferee of such Class B
Transferor and any subsequent Class B Transferee of such Class B Transferee (acting as Class B Transferor), other than a Class B Transferee identified in writing by the Class B Transferor to the Issuer and the Och-Ziff Operating Group Partnerships
(i) as holding no Excess Interests and a number of Class B Shares equal to the number of Och-Ziff Operating Group Units representing one class A common unit in each of the Och-Ziff Operating Group Partnerships to be held by such Class B
Transferee, in each case, immediately following and after giving effect to such Class B Transfer and (ii) as not constituting an Applicable Transferee hereunder. 
 “B Exchange” has the meaning set forth in Section 2.1(a)(ii) of this Agreement. 
 “Blackout Periods” has the meaning set forth in Section 2.7 of this Agreement 
 “Business Day” means any day other than a Saturday, Sunday or other day on which commercial banks in the State of New York are authorized or required by law or executive order to remain
closed. 
 “Chairman” shall mean the Chairman of the Exchange Committee, who shall be the Chairman of the
Partner Management Committee as determined pursuant to the applicable Och-Ziff Operating Group Partnership Agreement from time to time. Initially, Dan Och shall serve as Chairman. 

“Cash Amount” has the meaning set forth in Section 2.1(b). 

“Charity” means any organization that is organized and operated for a purpose described in Section 170(c) of the
Code (determined without reference to Section 170(c)(2)(A) of the Code) and described in Sections 2055(a) and 2522 of the Code. 
 “Class A Sale” means any proposed sale of Class A Shares (A) in a Registered Sale or (B) in a sale pursuant to an exemption from registration to a strategic buyer or in
which Daniel Och participates, in either case, involving 5% or more of the then-outstanding Class A Shares, as such Class A Sale may be indicated in any Exchange Notification. 

“Class A Shares” means the Class A shares representing class A limited liability company interests in the Issuer.

 “Class B Exchange Amount” means, with respect to any Exchanging Partner, the number of Class B Shares to be
automatically cancelled in respect of any Exchange by such Exchanging Partner, which shall equal the number of Och-Ziff Operating Group Units to be Exchanged by such Exchanging Partner, provided that the Class B Exchange Amount in respect of a Ziff
Exchange shall be zero. 

  
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 “Class B Shares” means the Class B shares representing class B limited
liability company interests in the Issuer. 
 “Class B Shareholder” means, as of any relevant date, the record
owner of Class B Shares as reflected on the books and records of the Issuer or its authorized agent. 
 “Class B
Transfer” means any sale, transfer, assignment, conveyance, whether voluntary or involuntary (including by operation of law), whereby any Person becomes the record holder of Class B Shares. 

“Class B Transferee” means any Person that, as a result of any Class B Transfer, becomes the record holder of the Class
B Shares subject to such Class B Transfer. 
 “Class B Transferor” means any Person that, as a result of any
Class B Transfer, is no longer the record holder of the Class B Shares subject to such Class B Transfer. 
 “Class C
Non-Equity Interests” means the Class C non-equity interests representing non-equity interests in each of the entities within the Och-Ziff Operating Group. 
 “Closing” has the meaning set forth in Section 2.5(a) 

“Closing Date” has the meaning set forth in Section 2.5(a). 

“Closing Price” has the meaning set forth in the definition of Value. 

“Code” means the Internal Revenue Code of 1986, as amended, and in effect from time to time. Any reference herein to a
specific section or sections of the Code shall be deemed to include a reference to any corresponding provision of any successor law. 
 “Commission” means the United States Securities and Exchange Commission or any similar agency then having jurisdiction to enforce the Securities Act of 1933, as amended. 

“Control” means the possession, direct or indirect, of the power to direct or cause the direction of the management and
policies of a Person, whether through ownership of voting securities, by contract or otherwise. For purposes of this definition, the terms “controlling,” “controlled by,” and “under common control with” have correlative
meanings. 
 “Delay Event” has the meaning set forth in Section 2.6(b). 

“Designated Class B Shares” has the meaning set forth in Section 2.1(e) 

“Determination Period” has the meaning set forth in Section 2.2(a)(vi). 

“Established Exchange Date” means any date on which the Exchange Committee shall determine to permit Exchanges pursuant
to this Agreement, other than a Quarterly Exchange Date. 
 “Excess Interests” has the meaning set forth in
Section 2.11(a). 

  
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 “Exchange” means the exchange by an Och-Ziff Limited Partner of an Och-Ziff
Operating Group Unit for a Class A Share (and/or the applicable Cash Amount) pursuant to Article II of this Agreement or, as applicable, an exchange of Excess Interests as described in Section 2.11, and, as required by the context, the
term “Exchange” shall refer collectively to all Exchanges occurring on the same Exchange Date. 
 “Exchange
Committee” shall mean a committee consisting of the individuals that are from time to time members of the Partner Management Committee as determined pursuant to the applicable Och-Ziff Operating Group Partnership Agreement. The Chairman of
the Exchange Committee shall be the same as the Chairman of the Partner Management Committee, and the Chairman of the Exchange Committee shall have the sole and exclusive right and authority to take any action (including, without limitation, the
selection of any date on which an Exchange shall be permitted, the consent to any amendment of this Agreement pursuant to this Agreement and the determinations set forth in Section 2.2(a)(iv)) on behalf of the Exchange Committee;
provided, however, that if and to the extent that at any time no Chairman of the Partner Management Committee exists and, therefore, no Chairman of the Exchange Committee exists, any such action may be taken by a simple majority of the
members of the Exchange Committee. 
 “Exchange Date” means any Established Exchange Date or Quarterly Exchange
Date, or the date to which any such Exchange Date may be delayed pursuant to Section 2.5(a). 
 “Exchange Exercise
Notice” has the meaning set forth in Section 2.2(b)(i). 
 “Exchange Notification” has the
meaning set forth in Section 2.2(a)(i). 
 “Exchange Procedures” shall mean the exchange procedures
established by the Exchange Committee in its sole discretion from time to time with respect to the appropriate notice, timing and regulatory procedures that should be complied with in connection with Exchanges permitted in accordance with this
Agreement. 
 “Exchange Rate” means the number of Class A Shares for which an Och-Ziff Operating Group
Unit is entitled to be exchanged. On the date of this Agreement, the Exchange Rate shall be 1 for 1, which Exchange Rate shall be subject to modification as provided in Section 2.8. 

“Exchange Right” means an Och-Ziff Limited Partner’s right to make an Exchange. 

“Exchanging Partner” means any Och-Ziff Limited Partner effecting an Exchange. 

“First Person” has the meaning set forth in Section 2.11(a). 

“Governmental Entity” means any court, administrative agency, regulatory body, commission or other governmental
authority, board, bureau or instrumentality, domestic or foreign and any subdivision thereof. 

  
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 “Initial Ziff Interest” means the Och-Ziff Operating Group Units
beneficially owned by the Ziffs as of the closing of the IPO (as reduced by the amount of any Och-Ziff Operating Group Units purchased in connection with the exercise of the underwriters’ option to purchase additional Class A Shares in the
IPO), as such amount may be adjusted after the date hereof for splits, reclassifications, recapitalizations, recombinations and/or similar events or transactions. 
 “Initial Ziff Period” has the meaning set forth in Section 2.2(a)(vi). 
 “Insider Trading Policy” means the Insider Trading Policy of the Issuer applicable to its directors and executive officers, as such insider trading policy may be amended from time to
time. 
 “IPO” means the initial offering and sale of Class A Shares to the public, as contemplated by the
Issuer’s Registration Statement on Form S-1 (File No. 333-144256). 
 “Issuer” means Och-Ziff Capital
Management Group LLC, a limited liability company formed under the laws of the State of Delaware, and any successor thereto. 

“Issuer Delay Notice” has the meaning set forth in Section 2.6(b). 

“Issuer Operating Agreement” means the Second Amended and Restated Limited Liability Company Agreement of the Issuer to
be dated on or prior to and in effect upon the consummation of the IPO, as such agreement may be amended, supplemented or restated from time to time. 
 “Liens” means any and all liens, charges, security interests, options, claims, mortgages, pledges, proxies, voting trusts or agreements, obligations, understandings or arrangements or
other restrictions on title or transfer of any nature whatsoever. 
 “Maximum Participation Amount” is defined
in Section 2.2(a)(iii). 
 “New York Courts” is defined in Section 3.9. 

“Och-Ziff Corp” means Och-Ziff Holding Corporation, a corporation formed under the laws of the State of Delaware and the
general partner of OZ Management and OZ Advisors, and any successor general partner thereof. 
 “Och-Ziff General
Partners” means, collectively, Och-Ziff Corp and Och-Ziff Holding and any other entity from time to time serving as general partner (or equivalent) of an Och-Ziff Operating Group Partnership. 

“Och-Ziff Holding” means Och-Ziff Holding LLC, a limited liability company formed under the laws of the State of
Delaware and the general partner of OZ Advisors II, and any successor general partner thereof. 
 “Och-Ziff Limited
Partner” means each Person that is as of the date of this Agreement or hereafter becomes a limited partner of each of the Och-Ziff Operating Group 

  
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Partnerships pursuant to the terms of the applicable Och-Ziff Operating Group Partnership Agreement, provided, however, that for all purposes of this Agreement with respect to any
Exchange of Excess Interests, the First Person and the Second Person, acting in accordance with Section 2.11, shall, collectively, be deemed to be an Och-Ziff Limited Partner. 

“Och-Ziff Operating Group Partnership Agreements” means, collectively, the Amended and Restated Limited Partnership
Agreement of OZ Management, the Amended and Restated Limited Partnership Agreement of OZ Advisors and the Amended and Restated Limited Partnership Agreement of OZ Advisors II, as they may each be amended, supplemented or restated from time to time,
and any similar agreement of any other partnership or other entity that may hereafter become an Och-Ziff Operating Group Partnership in accordance with this Agreement, as the same may be amended, supplemented, or restated from time to time.

 “Och-Ziff Operating Group Partnerships” means, collectively, OZ Management, OZ Advisors, and OZ Advisors II,
and any other partnership or entity whose general partner (or equivalent) is an Och-Ziff General Partner and that may hereafter become a party to this Agreement. 
 “Och-Ziff Operating Group Unit” means, collectively, a unit or units of interest representing limited partnership interests or other similar interests in each of the entities within the
Och-Ziff Operating Group Partnerships (including without limitation, the class A common units in each such entity issued under the applicable Och-Ziff Operating Group Partnership Agreement), with each unit representing one interest in each of the
Och-Ziff Operating Group Partnerships, but excluding the Class C Non-Equity Interests. 
 “Open Window” means
any period determined in the discretion of the Issuer’s Chief Compliance Officer in which (i) the directors and executive officers of the Issuer are permitted to trade under the Insider Trading Policy and (ii) the Issuer is not in
possession of material non-public information. 
 “OZ Advisors” means OZ Advisors LP, a limited partnership
formed under the laws of the State of Delaware, and any successor thereto. 
 “OZ Advisors II” means OZ
Advisors II LP, a limited partnership formed under the laws of the State of Delaware, and any successor thereto. 
 “OZ
Management” means OZ Management LP, a limited partnership formed under the laws of the State of Delaware, and any successor thereto. 
 “Permitted Transferee” means any Person who is a Permitted Transferee under the applicable Och-Ziff Operating Group Partnership Agreement. 

“Person” means an individual or a corporation, limited liability company, partnership, joint venture, trust, estate,
unincorporated organization, association (including any group, organization, co-tenancy, plan, board, council or committee), government (including a country, state, county, or any other governmental or political subdivision, agency or
instrumentality thereof) or other entity (or series thereof). 

  
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 “Quarterly Exchange Date” means any date as may be determined by the
Exchange Committee in accordance with the Exchange Procedures; provided, the Quarterly Exchange Date in respect of a Special Ziff Quarterly Exchange during the Initial Ziff Period shall be at least one and not more than three Business Days
after the record date of the Issuer for the prior fiscal quarter or such later date as may be agreed to in writing by the Exchange Committee and the Ziffs. 
 “Reallocated Och-Ziff Operating Group Units” is defined in Section 2.2(a)(v). 
 “Registration Rights Agreement” means the Registration Rights Agreements among the Issuer and the Och-Ziff Limited Partners providing for the registration of Class A Shares, entered
into in connection with the IPO, as the same may be amended, supplemented, or restated from time to time. 
 “Registered
Sale” means a sale of Class A Shares pursuant to a Demand Registration or a Piggyback Registration (as each such term is defined in the Registration Rights Agreement). 

“Related Trust” means, with respect to any individual Och-Ziff Limited Partner, any other Och-Ziff Limited Partner that
is an estate, family limited liability company, family limited partnership of such individual Och-Ziff Limited Partner, a trust the grantor of which is such individual Och-Ziff Limited Partner, or any other estate planning vehicle or family member
relating to such individual Och-Ziff Limited Partner. 
 “Second Person” has the meaning set forth in
Section 2.11(a). 
 “Special Ziff Quarterly Exchange” has the meaning set forth in
Section 2.2(a)(vi). 
 “Transfer Agent” means such bank, trust company or other Person as shall be
appointed from time to time by the Issuer pursuant to the Issuer Operating Agreement to act as registrar and transfer agent for the Class A Shares. 
 “Value” means, on any Exchange Date with respect to a Class A Share, the average of the daily Closing Prices for ten (10) consecutive trading days immediately preceding the
Exchange Date. The “Closing Price” on any date means the last sale price for such Class A Shares, regular way, or, in case no such sale takes place on such day, the average of the closing bid and asked prices, regular way, for
such Class A Shares, in either case, as reported in the principal consolidated transaction reporting system with respect to securities listed or admitted to trading on the New York Stock Exchange or, if such Class A Shares are not listed
or admitted to trading on the New York Stock Exchange, as reported on the principal consolidated transaction reporting system with respect to securities listed on the principal national securities exchange on which such Class A Shares are
listed or admitted to trading or, if such Class A Shares are not listed or admitted to trading on any national securities exchange, the last quoted price, or if not so quoted, the average of the high bid and low asked prices in the principal
automated quotation system that may then be in use or, if such Class A Shares are not quoted by any such organization, the average of the closing bid and asked prices as furnished by a professional market maker making a market in such
Class A Shares selected by the Board of Directors of the Issuer or, in the event that no trading price is available for such Class A Shares, the fair market value of the Class A Shares, as determined in good faith by the Board of
Directors of the Issuer. 

  
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 “Vested Och-Ziff Operating Group A Unit” means an Och-Ziff Operating Group
Unit representing one class A common unit in each of the Och-Ziff Operating Group Partnerships which is not subject to any remaining conditions on vesting or any risk of forfeiture pursuant to the applicable Och-Ziff Operating Group Partnership
Agreement. 
 “Vested Unit” means a Vested Och-Ziff Operating Group A Unit or an Och-Ziff Operating Group Unit
representing one vested class D common unit in each of the Och-Ziff Operating Group Partnerships. 
 “Ziff
Exchange” means an Exchange of all or any portion of the Initial Ziff Interest. 
 “Ziffs” means,
collectively, Ziff Investors Partnership, L.P. II and Ziff Investors Partnership, L.P. IIA. 
 “Ziffs Quarterly Exchange
Limit” means, as of any relevant Quarterly Exchange Date during the Initial Ziff Period, the number of Vested Och-Ziff Operating Group A Units equal to the lesser of (a) the number of Vested Och-Ziff Operating Group A Units, the
Exchange of which on such Quarterly Exchange Date would require the delivery of a number of Class A Shares equal to three and three-tenths percent (3.3%) of the then issued and outstanding Class A Shares (without giving effect to such
proposed Exchange) or the applicable Cash Amount as provided herein and (b) 5% of the Initial Ziff Interest. 
 ARTICLE
II 
 EXCHANGE OF OCH-ZIFF OPERATING GROUP UNITS 

Section 2.1 Exchange of Och-Ziff Operating Group Units. 

(a) Subject to adjustment as provided in this Article II, to the provisions of the Och-Ziff Operating Group Partnership Agreements and
the Issuer Operating Agreement and to the other provisions of this Agreement, each Och-Ziff Limited Partner shall be entitled to exchange Vested Och-Ziff Operating Group A Units held by such Och-Ziff Limited Partner on any Established Exchange Date
or, as applicable, Quarterly Exchange Date as follows: 
 (i) For the purpose of making a gratuitous transfer to
any Charity, an Och-Ziff Limited Partner may surrender Vested Och-Ziff Operating Group A Units to the Issuer in exchange for the delivery by the Issuer of a number of Class A Shares equal to the product of the number of Vested Och-Ziff
Operating Group A Units surrendered multiplied by the Exchange Rate (such exchange, an “A Exchange”); or 
 (ii) Subject to paragraph (b) below, an Och-Ziff Limited Partner may surrender Vested Och-Ziff Operating Group A Units to the Och-Ziff Operating Group Partnerships in exchange for the delivery by the
Och-Ziff 

  
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Operating Group Partnerships of a number of Class A Shares equal to the product of such number of Vested Och-Ziff Operating Group A Units surrendered multiplied by the Exchange Rate
(such exchange, a “B Exchange”); 
 (b) Notwithstanding the provisions of Section 2.1(a)(ii), the Board of
Directors of the Issuer may, in its sole and absolute discretion, elect to cause the Och-Ziff Operating Group Partnerships to acquire some or all of the Vested Och-Ziff Operating Group A Units surrendered for Exchange for cash (the “Cash
Exchange,” and the number of such Vested Och-Ziff Operating Group A Units to be so acquired for cash, expressed as a percentage of the total number of such Vested Och-Ziff Operating Group A Units surrendered for Exchange, the
“Applicable Percentage”). The amount of cash to be paid for the Cash Exchange (the “Cash Amount”) shall equal the Aggregate Value of such surrendered Vested Och-Ziff Operating Group A Units multiplied by the
Applicable Percentage. If the Board of Directors of the Issuer chooses to cause the Och-Ziff Operating Group Partnerships to acquire some or all of the surrendered Vested Och-Ziff Operating Group A Units pursuant to this Section 2.1(b), the
Och-Ziff Operating Group Partnerships shall give written notice thereof to such exchanging Och-Ziff Limited Partner on or before the close of business three days prior to Closing, and the number of Class A Shares to be delivered pursuant to
Section 2.1(a)(ii) hereof shall be correspondingly reduced. 
 (c) On the date Vested Och-Ziff Operating Group A Units are
surrendered for exchange, all rights of the exchanging Och-Ziff Limited Partner as holder of such Vested Och-Ziff Operating Group A Units, and the Designated Class B Shares shall be automatically cancelled as provided in Section 2.1(e), and
such exchanging Och-Ziff Limited Partner shall be treated for all purposes as having become the Record Holder (as defined in the Issuer Operating Agreement) of the Class A Shares issued in exchange for such Och-Ziff Operating Group Units and
shall be admitted as a Member (as defined in the Issuer Operating Agreement) of the Issuer in accordance and upon compliance with Section 3.1 of the Issuer Operating Agreement. 

(d) For the avoidance of doubt, any Exchange shall be subject to the provisions of the Och-Ziff Operating Group Partnership Agreements
including applicable vesting provisions, minimum retained ownership requirements and transfer restrictions. 
 (e) In the case
of any Exchange, the Designated Class B Shares shall be automatically cancelled on the books and records of the Issuer and such Designated Class B Shares shall have no further rights or privileges and shall no longer be deemed to be outstanding
limited liability company interests of the Issuer for any purpose from and after the Exchange Date. The term “Designated Class B Shares” means a number of Class B Shares equal to the Class B Exchange Amount identified and determined
as follows: 
 (i) If the Exchanging Partner is a Class B Shareholder that, immediately prior to such Exchange,
is the record owner of a number of Class B Shares at least equal to the Class B Exchange Amount, the portion of such Class B Shares equal to the Class B Exchange Amount shall constitute the Designated Class B Shares; 

  
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 (ii) If the Exchanging Partner is a Class B Shareholder that, immediately
prior to such Exchange, is the record owner of a number of Class B Shares that is less than the Class B Exchange Amount, all of such Class B Shares, together with other Class B Shares held by such Exchanging Partner’s Applicable Partner Group
in an amount equal to the difference between the Class B Exchange Amount and the number of Class B Shares held by such Exchanging Partner shall constitute the Designated Class B Shares; 

(iii) If the Exchanging Partner is not a Class B Shareholder immediately prior to such Exchange, then Class B Shares held
by such Exchanging Partner’s Applicable Partner Group in an amount equal to the Class B Exchange Amount shall constitute the Designated Class B Shares. 
 (iv) Any Class B Shares held by an Exchanging Partner’s Applicable Partner Group that constitute Designated Class B Shares as determined pursuant to clause (ii) or (iii) of this
Section 2.1(e) shall be cancelled in the applicable Exchange on a pro rata basis among all members of the Applicable Partner Group, based on the number of Class B Shares held of record by each Class B Shareholder included in such Applicable
Partner Group. 
 Section 2.2 Exchange Procedures. 

(a) 
 (i) Except as provided in paragraph (vi) below, no Och-Ziff Limited Partner shall be entitled to effect an Exchange at any time, other than as permitted by the Exchange Committee. In the event that
the Exchange Committee determines to permit an Exchange by the Och-Ziff Limited Partners pursuant to this Agreement other than an Exchange pursuant to paragraph (iv) below (or is required to permit an Exchange pursuant to paragraph
(v) below), the Exchange Committee shall provide written notice thereof (an “Exchange Notification”) to each Och-Ziff Limited Partner that sets forth, as and if applicable, the applicable Established Exchange Date, the Maximum
Participation Amount, the aggregate number of Reallocated Och-Ziff Operating Group Units, and whether any such Exchange relates to a proposed Class A Sale. Any such Exchange Notification shall be delivered at least 20 Business Days prior to any
such Established Exchange Date, unless the Issuer consents to a shorter period. An Established Exchange Date must be a Business Day that is expected to occur during an Open Window. 

(ii) The Exchange Committee shall have the right to establish any number of Established Exchange Dates during any fiscal
year, but shall have no obligation to set any Established Exchange Dates during any given fiscal year. 
 (iii)
If and to the extent the Exchange Committee determines to permit an Exchange pursuant to Section 2.2(a)(i), the Exchange 

  
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Committee may establish the maximum number of Vested Och-Ziff Operating Group A Units subject to such permitted Exchange (the “Maximum Participation Amount”). In the case of any
permitted Exchange pursuant to Section 2.2(a)(i) (other than as expressly provided pursuant to Sections 2.2(a)(iv), (v) or (vi)), each Och-Ziff Limited Partner shall be entitled to Exchange in any such permitted Exchange up to that number
of Vested Och-Ziff Operating Group A Units equal to the aggregate number of Vested Och-Ziff Operating Group A Units held by such Och-Ziff Limited Partner multiplied by a fraction the numerator of which shall be the Maximum Participation Amount and
the denominator of which shall be the aggregate number of Vested Och-Ziff Operating Group A Units outstanding (and subject to this Agreement). To the extent any Och-Ziff Limited Partner does not participate up to its pro rata portion of the Maximum
Participation Amount, the Exchange Committee may, in its sole discretion, permit the other Och-Ziff Limited Partners to Exchange such additional Vested Och-Ziff Operating Group A Units in the same proportions as determined above. Notwithstanding the
foregoing, if the Exchange Committee permits any Exchange in connection with a Tag-Along Sale or Drag-Along Sale (as such terms are defined in the Och-Ziff Operating Group Partnership Agreements), the foregoing Vested Och-Ziff Operating Group A
Units shall include any Och-Ziff Operating Group Units representing one unvested class A common unit in each of the Och-Ziff Operating Group Partnerships. 
 (iv) (A) Subject in all cases to the prior written consent of the Exchange Committee, each Och-Ziff Limited Partner (other than the Ziffs) shall be entitled to Exchange, on any Quarterly Exchange Date
commencing with a Quarterly Exchange Date occurring during the first fiscal quarter of 2013 and ending with a Quarterly Exchange Date occurring during the last fiscal quarter of 2014, an aggregate number of Vested Och-Ziff Operating Group A Units
equal to up to two and a half percent (2.5%) of the number of Vested Units owned by such Och-Ziff Limited Partner as of the first day of the fiscal year in which such Quarterly Exchange Date occurs, determined on a cumulative basis such that if
any such Och-Ziff Limited Partner does not exchange Vested Och-Ziff Operating Group A Units on any Quarterly Exchange Date, such Och-Ziff Limited Partner may exchange the Vested Och-Ziff Operating Group A Units that were previously permitted to be
exchanged, but were not exchanged, by such Och-Ziff Limited Partner on any subsequent Quarterly Exchange Date in 2013 or 2014 in an aggregate number per year equal to up to ten percent (10%) of the number of Vested Units owned by such Och-Ziff
Limited Partner as of the first day of the relevant fiscal year. In the event that the Exchange Committee determines in respect of any Quarterly Exchange Date that the Och-Ziff Limited Partners will not be permitted to Exchange the entire number of
Vested Och-Ziff Operating Group A Units requested to be Exchanged, then the Exchange Committee shall determine the number of Vested Och-Ziff Operating Group A Units each Och-Ziff Limited Partner participating in the Exchange shall be permitted to
Exchange based on the percentages and numbers of Vested Och-Ziff Operating Group A Units previously exchanged by each such Och-Ziff Limited Partner such that the Och-Ziff Limited Partners participating in

  
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the Exchange have each exchanged, on a cumulative basis, an equivalent percentage of Vested Och-Ziff Operating Group A Units determined on a pro rata basis (based on the maximum number of Vested
Och-Ziff Operating Group A Units each Och-Ziff Limited Partner would be permitted to Exchange on any Quarterly Exchange Date) to the maximum extent possible after giving effect to such Exchange. 

(B) In 2015, the Exchange Committee shall determine in its sole discretion whether to allow any additional exchanges by
the Och-Ziff Limited Partners, provided that, subject to the other provisions of this Agreement allowing for Exchanges in other circumstances, in no event will any such additional Exchanges by any Och-Ziff Limited Partner pursuant to this
Section 2.2(a)(iv) exceed ten percent (10%) of the Vested Units owned by such Och-Ziff Limited Partner as of the first day of the relevant fiscal year for each such year (determined on a cumulative basis as described above) from 2015
through the end of 2017; provided, that any Exchanges during the period from 2015 through 2017 shall be subject to the procedures in Section 2.2(a)(iv)(A) above that determine the number of Vested Och-Ziff Operating Group A Units that an
Och-Ziff Limited Partner may exchange. 
 (C) Any Exchanges pursuant to this Section 2.2(a)(iv) shall be
made in a manner consistent with the Exchange Procedures. Any Exchange pursuant to this Section 2.2(a)(iv) shall be subject to the conditions set forth in Section 2.2(b) and Sections 2.5 through 2.11. 

(v) Notwithstanding, and in addition to any Exchange Dates that may be scheduled pursuant to Section 2.2(a)(i) or any
Quarterly Exchange Date that may occur pursuant to 2.2(a)(iv), in the event any Och-Ziff Limited Partner receives Och-Ziff Operating Group Units as a result of the reallocation of such Och-Ziff Operating Group Units pursuant to any Och-Ziff
Operating Group Partnership Agreement in a transaction that the Exchange Committee determines, in its sole and absolute discretion, is taxable to the recipient of such Och-Ziff Operating Group Units (such units, “Reallocated Och-Ziff
Operating Group Units”), the Exchange Committee shall promptly determine an Established Exchange Date and deliver an Exchange Notification pursuant to Section 2.2(a)(i) to permit each such Och-Ziff Limited Partner to Exchange fifty
percent (50%) of such Reallocated Och-Ziff Operating Group Units. 
 (vi) Notwithstanding, and in addition
to their rights to participate in any Exchange pursuant to Sections 2.2(a)(i) and (iii) above, the Ziffs may Exchange on any Quarterly Exchange Date (A) on which no other Limited Partner is entitled to participate during the period
commencing with the IPO and continuing through the fifth anniversary thereof (the “Initial Ziff Period”) a number of Vested Och-Ziff Operating Group A Units that does not exceed the Ziffs Quarterly Exchange Limit and
(B) occurring at any time after the Initial Ziff Period, any number of Vested Och-Ziff Operating Group A Units as long as the Aggregate Value of Vested Och-Ziff Operating Group A Units proposed to be Exchanged by the Ziffs is equal to at least
$10,000,000 (or such smaller amount 

  
 12 

 
determined by the Exchange Committee in its sole discretion), or all of the Ziffs’ remaining Vested Och-Ziff Operating Group A Units (any Exchange pursuant to clause (A) or (B), a
“Special Ziff Quarterly Exchange”); provided, that, except by participating in a Class A Sale, the Ziffs shall not be permitted to sell Class A Shares received in an Exchange pursuant to this Section 2.2(a)(vi)
during any “Determination Period”, which shall be the period commencing on the date on which the Ziffs receive an Exchange Notification with respect to an Exchange relating to a Class A Sale and ending on the earlier of
(1) the receipt of notice that such Class A Sale will not occur (such notice to be delivered promptly following a determination that such Class A Sale will not occur) and (2) the completion of the Class A Sale. No individual
Determination Period shall exceed 120 consecutive days and all Determination Periods during any fiscal year shall not exceed 180 days in the aggregate; provided that the number of days in any Determination Period during which any Class A
Sale is completed shall not be counted for purposes of calculating such 180 day limitation; and provided further, that, in the case of a Class A Sale pursuant to a continuous offering under Rule 415 of the Securities Act, the
Determination Period shall continue until the earliest date on which the Ziffs can no longer sell Class A Shares under the applicable registration statement pursuant to the terms of the Registration Rights Agreement. The Ziffs shall not have
the right to Exchange any portion of the Ziffs Quarterly Exchange Limit not so Exchanged during the Initial Ziff Period as provided above on any subsequent Quarterly Exchange Date during the Initial Ziff Period. 

(b) 
 (i) With respect to Exchanges under Section 2.2(a)(i) or 2.2(a)(v), upon receipt of an Exchange Notification, an Och-Ziff Limited Partner may exercise its right to exchange Vested Och-Ziff Operating
Group A Units as set forth in Section 2.1(a) by providing a written notice of exchange (an “Exchange Exercise Notice”) at least ten (10) Business Days prior to the applicable Established Exchange Date and in accordance
with the applicable Exchange Procedures. 
 (ii) With respect to Exchanges for any fiscal quarter under
Section 2.2(a)(iv) or Section 2.2(a)(vi), an Och-Ziff Limited Partner may exercise the right to exchange Vested Och Ziff Operating Group Units as set forth in Section 2.1(a) by providing an Exchange Exercise Notice before the end of
the prior fiscal quarter and in accordance with the applicable Exchange Procedures. 
 (iii) An Exchange Exercise
Notice shall be delivered to the Issuer, in the case of an A Exchange, and each of the Och-Ziff Operating Group Partnerships, in the case of a B Exchange, (X) in the case of an A Exchange, substantially in the form of Exhibit A hereto,
and (Y) in the case of a B Exchange, substantially in the form of Exhibit B hereto, duly executed by such holder or such holder’s duly authorized attorney in respect of the Och-Ziff Operating Group Units to be exchanged, in each
case delivered during normal business hours at the principal executive offices of the Issuer and the Och-Ziff General Partners. 

  
 13 

 (iv) As promptly as practicable following the surrender of Och-Ziff
Operating Group Units upon an Exchange in the manner provided in this Article II, the Issuer, in the case of an A Exchange, or the Och-Ziff Operating Group Partnerships, in the case of a B Exchange, shall deliver or cause to be delivered at the
principal executive offices of the Issuer or at the office of the Transfer Agent the number of Class A Shares issuable upon such Exchange, issued in the name of such exchanging Och-Ziff Limited Partner, and/or the applicable Cash Amount, if
any. 
 (c) The Issuer, in the case of an A Exchange, or the Och-Ziff Operating Group Partnerships, in the case of a B Exchange,
may adopt reasonable procedures for the implementation of the exchange provisions set forth in this Article II. 

Section 2.3 Concurrent Exchanges. The obligation with respect to a B Exchange represents a several, and not a joint and
several, obligation of the Och-Ziff Operating Group Partnerships, and no Och-Ziff Operating Group Partnership shall have any obligation or right to acquire the portion of one or more Och-Ziff Operating Group Units issued by another Och-Ziff
Operating Group Partnership. Notwithstanding any other provision of this Agreement, an Exchange Exercise Notice shall not be valid unless the Och-Ziff Limited Partner giving such Exchange Exercise Notice requests an exchange of an equal number of
Och-Ziff Operating Group Units in each Och-Ziff Operating Group Partnership. 
 Section 2.4 Engagement of a Financial
Advisor. Upon receiving a valid Exchange Exercise Notice pursuant to Section 2.2(b), the Och-Ziff Operating Group Partnerships shall collectively engage a financial advisor of national reputation to determine the relative value of each
Och-Ziff Operating Group Partnership as of the applicable Closing Date and the parties hereto agree to be bound by such financial advisor’s determination, including, without limitation, for tax reporting purposes. The Och-Ziff Operating Group
Partnerships shall be responsible for the fees and expenses of such financial advisor. The parties agree, however, that in the event that the Och-Ziff Operating Group Partnerships have received a valuation or an opinion from a financial advisor of
national reputation regarding such relative values, and each of the Och-Ziff General Partners determines in its good faith judgment that no material change has occurred since the date of such valuation or opinion, or is expected to occur prior to
Closing, with respect to the Och-Ziff Operating Group Partnerships, the Och-Ziff Operating Group Partnerships may elect to use such valuation or opinion for purposes of this Section 2.4 and the parties hereto agree to be bound by such valuation
or opinion, including, without limitation, for tax reporting purposes. 
 Section 2.5 Closing. 

(a) If an Exchange Exercise Notice has been timely delivered pursuant to Section 2.2(b), then the closing (the
“Closing”) of the transactions contemplated by Section 2.1 shall take place on the third Business Day following the Exchange Date (as such date may be delayed pursuant to this Section 2.5(a), the “Closing
Date”) at the offices of the Issuer at 9 West 

  
 14 

 
57th
Street, New York, New York 10019 (or such other place as the parties to such Exchange shall agree). If any Exchange Date would otherwise occur during a Blackout Period (or within two Business Days of the expiration of a Blackout Period), such
Exchange Date shall be delayed until the third Business Day following the expiration of any such Blackout Period (or such other date as the parties to such Exchange shall agree), unless such delay would not be required by the Exchange Procedures. If
any Closing Date would otherwise occur during a Blackout Period, such Closing Date shall be delayed until the third Business Day following the expiration of any such Blackout Period, unless such delay would not be required by the Exchange
Procedures. Notwithstanding the foregoing, no Exchange Date or Closing Date relating to a Special Ziff Quarterly Exchange shall be delayed, suspended, terminated or otherwise affected by reason of the existence of any Blackout Period. 

(b) No Exchange shall be permitted (and, if attempted, shall be void ab initio) if the General Partner of any Och-Ziff Operating Group
Partnership determines in its sole and absolute discretion that such an Exchange would pose a material risk that such Och-Ziff Operating Group Partnership would be a “publicly traded partnership” as defined in Section 7704 of the
Code. The Och-Ziff General Partners, in their sole and absolute discretion, shall be permitted to establish revised exchange procedures they determine are necessary or appropriate to ensure that each of the Och-Ziff Operating Group Partnerships will
not be treated as an association or publicly traded partnership taxable as a corporation for U.S. federal income tax purposes. 

(c) Closing Conditions. The obligations of any of the parties to consummate an Exchange pursuant to this Article II shall be
subject to the conditions that (i) there shall be no injunction, restraining order or decree of any nature of any Governmental Entity that is then in effect that restrains or prohibits the Exchange by the applicable Och-Ziff Limited Partner of
its Och-Ziff Operating Group Units for Class A Shares and (ii) no such Exchange shall be prohibited by applicable law or regulations. 
 (d) Closing Deliveries. At each Closing, with respect to each Och-Ziff Limited Partner that elects to participate in the Exchange: 

(i) to the extent reasonably requested by the Transfer Agent and/or the Issuer in the case of an A Exchange, and/or any
Och-Ziff Operating Group Partnership, in the case of a B Exchange, such Och-Ziff Limited Partner shall deliver instructions and/or other instruments of transfer, in form and substance reasonably satisfactory to such Transfer Agent, the Issuer and/or
Och-Ziff Operating Group Partnership, as applicable, duly executed by such Och-Ziff Limited Partner or such Och-Ziff Limited Partner’s duly authorized attorney, and transfer tax stamps or funds therefor, if required, representing a number of
Och-Ziff Operating Group Units to be exchanged; 
 (ii) such Och-Ziff Limited Partner shall represent to the
Issuer or the Och-Ziff Operating Group Partnerships, as applicable, that all of its Och-Ziff Operating Group Units delivered at Closing are delivered free and clear of any and all Liens; 

  
 15 

 (iii) if such Och-Ziff Limited Partner has delivered a number of Och-Ziff
Operating Group Units pursuant to this Section 2.5(d) that represent a greater number of Och-Ziff Operating Group Units than can be exchanged in such Exchange, the relevant Och-Ziff Operating Group Partnership will deliver back the number of
Och-Ziff Operating Group Units, as applicable, not subject to the Exchange; 
 (iv) in the case of an A Exchange,
the Issuer shall deliver to the Och-Ziff Limited Partners participating in the Exchange a number of Class A Shares equal to the number of Och-Ziff Operating Group Units being surrendered in such A Exchange; and 

(v) in the case of a B Exchange, each Och-Ziff Operating Group Partnership shall deliver the number of Class A Shares
corresponding to the units of partnership interest of such Och-Ziff Operating Group Partnership comprising part of the Och-Ziff Operating Group Units that are the subject of such B Exchange and/or its proportionate share of the Cash Amount (if any),
in each case determined by reference to the relative value of such Och-Ziff Operating Group Partnership established with respect to such Exchange pursuant to Section 2.4. 

(vi) Delivery and transfer of any securities hereunder may be effected by book-entry transfer if and to the extent such
securities are not held or issued in certificated form. 
 Section 2.6 Revocability; Expenses; Notice of Unavailability
of Registration Statement. 
 (a) An Och-Ziff Limited Partner may revoke an Exchange Exercise Notice with respect to any or
all of the Och-Ziff Operating Group Units set forth in such Och-Ziff Limited Partner’s Exchange Exercise Notice by delivery of a written notice to the Och-Ziff Operating Group Partnerships at any time prior to Closing for any reason, including
as a result of a Delay Event, unless any such revocation would be inconsistent with the applicable Exchange Procedures. 
 (b)
If at any time after delivery of an Exchange Exercise Notice with respect to a proposed Exchange and prior to the Closing of such Exchange, the Issuer determines that (i) the Exchange Date will be delayed, suspended or terminated in accordance
with Section 2.5(a), (b) or (c), and/or (ii) the Class A Shares which may be issued in connection with an Exchange relating to a Registered Sale will not be eligible to be sold pursuant to an effective registration statement on
the anticipated Closing Date or within two Business Days of the anticipated Closing Date for any reason (collectively, a “Delay Event”), the Issuer shall promptly notify each Och-Ziff Limited Partner that has delivered an Exchange
Exercise Notice in connection with such proposed Exchange of such Delay Event (an “Issuer Delay Notice”). The Issuer Delay Notice shall describe, in reasonable detail, the events giving rise to the Delay Event, the anticipated
duration of such Delay Event and, if reasonably determinable in light of the facts and circumstances surrounding such Delay Event, a revised proposed Exchange Date and 

  
 16 

 
Closing Date. In the event the Issuer Delay Notice does not include a revised proposed Exchange Date and Closing Date, the Issuer shall promptly notify each recipient of the revised proposed
Exchange Date and Closing Date when such dates become reasonably determinable. Notwithstanding the foregoing, an Issuer Delay Notice to be sent to the Ziffs may (but need not) omit certain information described above that the Issuer determines, in
its sole and absolute discretion, constitutes material non-public information and no event that otherwise would constitute a Delay Event under clause (ii) of the definition of Delay Event shall constitute a Delay Event with respect to a Special
Ziff Quarterly Exchange. 
 (c) Each party hereto shall bear his own expenses in connection with the consummation of any of the
transactions contemplated hereby, whether or not any such transaction is ultimately consummated. 
 Section 2.7 Blackout
Periods. Notwithstanding anything to the contrary, except with respect to a Special Ziff Quarterly Exchange an Och-Ziff Limited Partner shall not be entitled to effect an Exchange, and the Issuer, in the case of an A Exchange, or the Och-Ziff
General Partners, in the case of a B Exchange, shall have the right to delay or suspend any Exchange Date or Closing Date (whether such Exchange will result in the issuance of Class A Shares or the payment of a Cash Amount) that occurs during a
period that is not an Open Window and, if the Issuer is in possession of material non-public information, the Issuer has determined in good faith that the disclosure of such information would not be in the best interests of the Issuer (collectively,
a “Blackout Period”) unless such Exchange is otherwise permitted in accordance with the Exchange Procedures. A Blackout Period in which the Issuer is in possession of material non-public information shall expire on the date on which
the Issuer determines that there is no such material non-public information. 
 Section 2.8 Splits, Distributions and
Reclassifications. The Exchange Rate shall be adjusted accordingly if there is: (1) any subdivision (by split, distribution, reclassification, recapitalization or otherwise) or combination (by reverse split, reclassification,
recapitalization or otherwise) of the Och-Ziff Operating Group Units that is not accompanied by an identical subdivision or combination of the Class A Shares; or (2) any subdivision (by split, distribution, reclassification,
recapitalization or otherwise) or combination (by reverse split, reclassification, recapitalization or otherwise) of the Class A Shares that is not accompanied by an identical subdivision or combination of the Och-Ziff Operating Group Units. In
the event of a reclassification or other similar transaction as a result of which the Class A Shares are converted into another security, then an Och-Ziff Limited Partner shall be entitled to receive upon exchange the amount of such security
that such Och-Ziff Limited Partner would have received if such exchange had occurred immediately prior to the effective date of such reclassification or other similar transaction. Except as may be required in the immediately preceding sentence, no
adjustments in respect of distributions shall be made upon an Exchange. 
 Section 2.9 Taxes. The delivery of
Class A Shares upon an Exchange shall be made without charge to the Och-Ziff Limited Partners for any stamp or other similar tax in respect of such issuance. 
 Section 2.10 Call Right. Notwithstanding any other provision of this Agreement, Och-Ziff Corp shall have the right (the “Call Right”), but not the obligation, to assume OZ

  
 17 

 
Advisors II’s obligations to effect an Exchange at any particular Closing with respect to Och-Ziff Operating Group Units issued by OZ Advisors II. Och-Ziff Corp may exercise the Call Right
by giving written notice to such effect to OZ Advisors II prior to such Closing. 
 Section 2.11 Certain Adjustments.
Notwithstanding anything else in this Agreement to the contrary: 
 (a) If any Person (the “First Person”)
does not hold the same number of units of interest representing limited partnership interests or other similar interests (excluding Class C Non-Equity Interests) in each Och-Ziff Operating Group Partnership (such interests in excess of such same
number, the “Excess Interests”), then, except to the extent provided in the second following proviso, the First Person, in connection with Exchanging any of its Och-Ziff Operating Group Units, shall first Exchange such Excess
Interests, provided, however, that, such Exchange of such Excess Interests shall only be made in connection with and at the same time as an Exchange of the same number of Excess Interests in other Och-Ziff Operating Group Partnerships
held by another Person (or Persons) that, but for this proviso, would be described as a “First Person” (the “Second Person”), such that the Exchanges of Excess Interests by such First Person and such Second Person (or
Second Persons) collectively represent Och-Ziff Operating Group Units; provided further, that the provisions of this Section 2.11 shall apply only to the extent that there are an equal number of such Excess Interests in each Och-Ziff
Operating Group Partnership proposed to be Exchanged as part of a single Exchange. 
 (b) The consideration for an Exchange of
Excess Interests delivered pursuant to this Article II shall be allocated between the First Person and Second Person (or Second Persons) in accordance with the relative value, as determined under Section 2.4 of this Agreement of the Excess
Interests Exchanged by each such Person. 
 (c) For any Exchange of Excess Interests pursuant to this Section 2.11, a form
(or forms) of Exchange Exercise Notice shall be executed by each First Person and Second Person (or Second Persons) and shall provide, in addition to information set forth on Exhibit A and Exhibit B hereto, as applicable, for each First Person and
Second Person (or Second Persons), the number of Excess Interests in each Och-Ziff Operating Group Partnership subject to such Exchange, the Designated Class B Shares to be cancelled and the number of Och-Ziff Operating Group Units represented by
all Excess Interests held by the First Person and the Second Person (or Second Persons) subject to such Exchange. 
 ARTICLE
III 
 GENERAL PROVISIONS 
 Section 3.1 Amendment. 
 (a) Subject to Section 3.1(c), no
provision of this Agreement may be amended unless such amendment is approved in writing by the Issuer, Och-Ziff Corp, Och-Ziff Holding, and the Och-Ziff Operating Group Partnerships, and by the Och-Ziff Limited Partners who, together with their
Permitted Transferees, collectively hold at least two-thirds of the Och-Ziff 

  
 18 

 
Operating Group Units collectively held by all of the Och-Ziff Limited Partners and their respective Permitted Transferees; provided, that no such amendment shall be effective if such
amendment will have a disproportionate effect on certain Och-Ziff Limited Partners unless all such Och-Ziff Limited Partners disproportionately affected consent in writing to such amendment and provided, further, no such amendment
shall impair or diminish the rights of the Exchange Committee, unless approved by the Exchange Committee. No provision of this Agreement may be waived unless such waiver is in writing and signed by the party against whom the waiver is to be
effective. 
 (b) No failure or delay by any party in exercising any right, power or privilege hereunder shall operate as a
waiver thereof nor shall any single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any other right, power or privilege. The rights and remedies herein provided shall be cumulative and not exclusive of
any rights or remedies provided by law. 
 (c) The Exchange Committee, the Issuer, Och-Ziff Corp and Och-Ziff Holding may, on
behalf of themselves and the respective partnerships they control, amend this Agreement in writing without the approval or consent of any Och-Ziff Limited Partner or Permitted Transferees if such amendment does not materially and adversely affect
any Och-Ziff Limited Partner’s Exchange Right. 
 (d) Each Och-Ziff Limited Partner hereby expressly consents and agrees
that, whenever in this Agreement it is specified that an action may be taken upon the affirmative vote or written consent of less than all of the Och-Ziff Limited Partners, such action may be so taken upon the concurrence of less than all of the
Och-Ziff Limited Partners and each Och-Ziff Limited Partner shall be bound by the results of such action. 
 (e) This Agreement
may be amended in accordance with the provisions of this Section 3.1 without the consent of any Class B Shareholder (in its capacity as such). 
 Section 3.2 Addresses and Notices. All notices, requests, claims, demands and other communications hereunder shall be in writing and shall be given (and shall be deemed to have been duly given
upon receipt) by delivery in person, by courier service, by fax, by electronic mail (delivery receipt requested) or by registered or certified mail (postage prepaid, return receipt requested) to the respective parties at the following addresses (or
at such other address for a party as shall be as specified in a notice given in accordance with this Section 3.2): 
  

	 	(a)	If to the Issuer, to: 

 9 West 57th
Street 
 New York, New York 10019 
 Attention: Chief Legal Officer 
 Fax: (212) 790-0077 

Electronic Mail: Jeffrey.Blockinger@ozcap.com 

  
 19 

	 	(b)	If to 

 OZ Management LP

 OZ Advisors LP 
 OZ Advisors II LP, to: 
 c/o Och-Ziff Capital Management Group LLC 

9 West 57th Street 
 New York, New York, 10019 
 Attention: Chief Legal Officer 

Fax: (212) 790-0077 
 Electronic Mail: Jeffrey.Blockinger@ozcap.com 
  

	 	(c)	If to any Och-Ziff Limited Partner, to: 

 the address and facsimile number set forth for such Och-Ziff Limited Partner in the records of the Och-Ziff Operating Group Partnerships. 

 

	 	(d)	If to any Class B Shareholder, to: 

 the address and facsimile number set forth for such Class B Shareholder in the records of the Issuer. 
 Section 3.3 Further Action. The parties shall execute and deliver all documents, provide all information and take or refrain from taking action as may be necessary or appropriate to achieve
the purposes of this Agreement. 
 Section 3.4 Binding Effect. This Agreement shall be binding upon and inure to the
benefit of all of the parties and, to the extent permitted or required by this Agreement, their successors, executors, administrators, heirs, legal representatives and assigns. This Agreement shall be binding on each Person who becomes a Class B
Shareholder, whether or not such Person executes and delivers a joinder to this Agreement pursuant to Section 3.5(c). 

Section 3.5 Partners; Och-Ziff Operating Group Partnerships. 

(a) To the extent an Och-Ziff Limited Partner (or an applicable Permitted Transferee) validly transfers any or all of its Och-Ziff
Operating Group Units to a Permitted Transferee of such Och-Ziff Limited Partner or to any other Person in a transaction not in contravention of, and in accordance with, the applicable Och-Ziff Operating Group Partnership Agreements, then such
Person shall have the right to execute and deliver a joinder to this Agreement, in form and substance reasonably satisfactory to the Och-Ziff Operating Group Partnerships. Upon execution of any such joinder, such Person shall be entitled to all of
the rights and shall be bound by each of the obligations applicable to the relevant transferor hereunder. 
 (b) Each of the
Issuer, Och-Ziff Corp and Och-Ziff Holding hereby agree that if any other Person subsequently becomes an Och-Ziff General Partner or Och-Ziff Operating Group Partnership, as applicable, it will cause such Person to execute a joinder to this
Agreement and become an “Och-Ziff General Partner” or an “Och-Ziff Operating Group Partnership” for all purposes of this Agreement, and this Agreement shall be amended to the extent necessary to reflect such joinder. 

  
 20 

 (c) Each Class B Shareholder hereby agrees that if such Class B Shareholder is a Class B
Transferor, it will cause the Class B Transferee to execute a joinder to this Agreement and become a “Class B Shareholder” for all purposes of this Agreement, and this Agreement shall be amended to the extent necessary to reflect such
joinder. 
 Section 3.6 Severability. If any term or other provision of this Agreement is held to be invalid,
illegal or incapable of being enforced by any rule of law, or public policy, all other conditions and provisions of this Agreement shall nevertheless remain in full force and effect so long as the economic or legal substance of the transactions is
not affected in any manner materially adverse to any party. Upon a determination that any term or other provision is invalid, illegal or incapable of being enforced, the parties hereto shall negotiate in good faith to modify this Agreement so as to
effect the original intent of the parties as closely as possible in a mutually acceptable manner in order that the transactions contemplated hereby be consummated as originally contemplated to the fullest extent possible. 

Section 3.7 Integration. This Agreement constitutes the entire agreement among the parties hereto pertaining to the subject
matter hereof and supersedes all prior agreements and understandings pertaining thereto. 
 Section 3.8 Waiver. No
failure by any party to insist upon the strict performance of any covenant, duty, agreement or condition of this Agreement or to exercise any right or remedy consequent upon a breach thereof shall constitute waiver of any such breach of any other
covenant, duty, agreement or condition. 
 Section 3.9 Submission to Jurisdiction; Dispute Resolution. Each party to
this Agreement hereby irrevocably and unconditionally, with respect to any matter or dispute arising under, or in connection with, this Agreement and the transactions contemplated hereby (i) submits for itself and its property in any legal
action or proceeding relating to this Agreement, or for recognition and enforcement of any judgment in respect thereof, to the exclusive general jurisdiction of the courts of the State of New York, the courts of the United States of America for the
Southern District of New York, and any appellate courts thereof (the “New York Courts”) (and covenants not to commence any legal action or proceeding in any other venue or jurisdiction); (ii) consents that any such action or
proceeding may be brought in such courts and waives any objection that it may now or hereafter have to the venue of any such action or proceeding in any such court or that such action or proceeding was brought in an inconvenient court and agrees not
to plead or claim the same; (iii) agrees that service of process in any such action will be in accordance with the laws of the State of New York but that nothing herein shall affect the right to effect service of process in any other manner
permitted by law; (iv) waives any and all immunity from suit, execution, attachment or other legal process; and (v) waives in connection with any such action any and all rights to a jury trial. The parties agree that any judgment of any
New York Court may be enforced in any court having jurisdiction over any party of any of their assets. 

  
 21 

 Section 3.10 Counterparts. This Agreement may be executed and delivered
(including by facsimile transmission) in one or more counterparts, and by the different parties hereto in separate counterparts, each of which when executed and delivered shall be deemed to be an original but all of which taken together shall
constitute one and the same agreement. Copies of executed counterparts transmitted by telecopy or other electronic transmission service shall be considered original executed counterparts for purposes of this Section 3.10. 

Section 3.11 Tax Treatment. To the extent this Agreement imposes obligations upon a particular Och-Ziff Operating Group
Partnership or a general partner of an Och-Ziff Operating Group Partnership, this Agreement shall be treated as part of the relevant Och-Ziff Operating Group Partnership Agreement as described in Section 761(c) of the Code and Sections
1.704-1(b)(2)(ii)(h) and 1.761-1(c) of the Treasury Regulations. As required by the Code and the Treasury Regulations, the parties shall report any B Exchange consummated hereunder, in the case of OZ Management and OZ Advisors, as a taxable sale of
Och-Ziff Operating Group Units by an Och-Ziff Limited Partner to Och-Ziff Corp, and in the case of OZ Advisors II, as a taxable sale of Och-Ziff Operating Group Units to Och-Ziff Holding, and no party shall take a contrary position on any income tax
return, amendment thereof or communication with a taxing authority. 
 Section 3.12 Reporting Requirements. The
Issuer shall use reasonable efforts to comply with the periodic reporting requirements under the Securities Exchange Act of 1934, as amended, for so long as any class of the Issuer’s equity securities is listed for trading on any national
securities exchange. 
 Section 3.13 Applicable Law. This Agreement shall be governed by, and construed in
accordance with, the law of the State of Delaware (without regard to conflicts of laws principles thereof). 
 [Remainder of Page
Intentionally Left Blank] 

  
 22 

 IN WITNESS WHEREOF, the parties have caused this Agreement to be duly executed and
delivered, all as of the date first set forth above. 
  

			
	OCH-ZIFF CAPITAL MANAGEMENT GROUP LLC
		
	By:	 	 /s/ Joel M. Frank

	Name:	 	Joel M. Frank
	Title:	 	Chief Financial Officer
	
	OCH-ZIFF HOLDING CORPORATION
		
	By:	 	 /s/ Joel M. Frank

	Name:	 	Joel M. Frank
	Title:	 	Chief Financial Officer
	
	OCH-ZIFF HOLDING LLC
		
	By:	 	 /s/ Joel M. Frank

	Name:	 	Joel M. Frank
	Title:	 	Chief Financial Officer
	
	OZ MANAGEMENT LP
	By: Och-Ziff Holding Corporation, its general partner
		
	By:	 	 /s/ Joel M. Frank

	Name:	 	Joel M. Frank
	Title:	 	Chief Financial Officer
	
	OZ ADVISORS LP
	By: Och-Ziff Holding Corporation, its general partner
		
	By:	 	 /s/ Joel M. Frank

	Name:	 	Joel M. Frank
	Title:	 	Chief Financial Officer
	
	OZ ADVISORS II LP
	By: Och-Ziff Holding LLC, its general partner
		
	By:	 	 /s/ Joel M. Frank

	Name:	 	Joel M. Frank
	Title:	 	Chief Financial Officer

 
			
	 OCH-ZIFF LIMITED PARTNERS

		
	By:	 	 /s/ Daniel S. Och

	Name:	 	Daniel S. Och
		
	By:	 	 /s/ David Windreich

	Name:	 	David Windreich
		
	By:	 	 /s/ Michael L. Cohen

	Name:	 	Michael L. Cohen
		
	By:	 	 /s/ Zoltan Varga

	Name:	 	Zoltan Varga
		
	By:	 	 /s/ Harold A. Kelly

	Name:	 	Harold A. Kelly
		
	By:	 	 /s/ Joel M. Frank

	Name:	 	Joel M. Frank
		
	By:	 	 /s/ James-Keith Brown

	Name:	 	James-Keith Brown

 
			
	
	THE FAMILY TRUST CREATED UNDER ARTICLE IV OF THE DANIEL S. OCH 2011 GST TRUST I AGREEMENT
		
	By:	 	 /s/ Jane C. Och

	Jane C. Och, as Trustee
		
	By:	 	 /s/ Daniel S. Och

	Daniel S. Och, as Trustee

 
			
	THE FAMILY TRUST CREATED UNDER ARTICLE IV OF THE DANIEL S. OCH 2011 GST TRUST II AGREEMENT
		
	By:	 	 /s/ Jane C. Och

	Jane C. Och, as Trustee
		
	By:	 	 /s/ Daniel S. Och

	Daniel S. Och, as Trustee
	
	THE FAMILY TRUST CREATED UNDER ARTICLE IV OF THE DANIEL S. OCH 2011 GST TRUST III AGREEMENT
		
	By:	 	 /s/ Jane C. Och

	Jane C. Och, as Trustee
		
	By:	 	 /s/ Daniel S. Och

	Daniel S. Och, as Trustee
	
	THE FAMILY TRUST CREATED UNDER ARTICLE IV OF THE OCH CHILDREN’S TRUST 2012 TRUST AGREEMENT
		
	By:	 	 /s/ Jane C. Och

	Jane C. Och, as Trustee
		
	By:	 	 /s/ Daniel S. Och

	Daniel S. Och, as Trustee
	
	THE SUSAN OCH KALVER TRUST FAMILY TRUST 2012
		
	By:	 	 /s/ Jane C. Och

	Jane C. Och, as Trustee
		
	By:	 	 /s/ Daniel S. Och

	Daniel S. Och, as Investment Trustee

 
			
	THE JONATHAN OCH FAMILY TRUST 2012
		
	By:	 	 /s/ Jane C. Och

	Jane C. Och, as Trustee
		
	By:	 	 /s/ Daniel S. Och

	Daniel S. Och, as Investment Trustee
	
	THE NANCY G. BERNSTEIN FAMILY TRUST 2012
		
	By:	 	 /s/ Jane C. Och

	Jane C. Och, as Trustee
		
	By:	 	 /s/ Daniel S. Och

	Daniel S. Och, as Investment Trustee
	
	THE FAMILY TRUST CREATED UNDER ARTICLE III OF THE JANE C. OCH 2011 DESCENDANTS’ TRUST AGREEMENT
		
	By:	 	 /s/ Jonathan Och

	Jonathan Och, as Trustee
		
	By:	 	 /s/ Susan Och Kalver

	Susan Och Kalver, as Trustee
	
	THE DANIEL S. OCH DESCENDANTS’ TRUST 1995
		
	By:	 	 /s/ Jane C. Och

	Jane C. Och, as Trustee
		
	By:	 	 /s/ Jonathan Och

	Jonathan Och, as Trustee

 EXHIBIT A 
 [FORM OF] 
 NOTICE OF A EXCHANGE 

Och-Ziff Capital Management Group LLC 
 9 West 57th
Street 
 New York, New York 10019 

Attention: Chief Legal Officer 
 Fax:
(212) [    ] 
 Electronic Mail: [    ] 

Reference is hereby made to the Amended and Restated Exchange Agreement, dated as of August 1, 2012 (as amended, supplemented, or
restated from time to time, the “Exchange Agreement”), among Och-Ziff Capital Management Group LLC, Och-Ziff Holding Corporation, Och-Ziff Holding LLC, OZ Management LP, OZ Advisors LP, OZ Advisors II LP and the Och-Ziff Limited
Partners from time to time party thereto, as amended from time to time. Capitalized terms used but not defined herein shall have the meanings given to them in the Exchange Agreement. 

The undersigned Och-Ziff Limited Partner desires to exchange the number of Och-Ziff Operating Group Units set forth below. 

 

							
	Legal Name of Och-Ziff Limited Partner:	 	  
	 		 	

					
			
	Address:	 	  
	 	

					
			
	Type of Exchange: A Exchange.	 		 	

					
			
	Number of Och-Ziff Operating Group Units to be exchanged:	 	  
	 	

 The undersigned (1) hereby represents that the Och-Ziff Operating Group Units set forth above are owned by the
undersigned, free of all Liens, (2) hereby exchanges such Och-Ziff Operating Group Units for Class A Shares and/or the applicable Cash Amount as set forth in the Exchange Agreement, (3) hereby irrevocably constitutes and appoints any
officer of the Och-Ziff Operating Group Partnerships, the Och-Ziff General Partners or the Issuer as its attorney, with full power of substitution, to exchange said Och-Ziff Operating Group Units on the books of the Och-Ziff Operating Group
Partnerships for Class A Shares on the books of the Issuer, with full power of substitution in the premises and/or the applicable Cash Amount. 

  
 A-1

 IN WITNESS WHEREOF the undersigned, by authority duly given, has caused this Notice of
Exchange to be executed and delivered by the undersigned or by its duly authorized attorney. 
  

	
	  

	Name:

  

			
	Dated:	 	  

  
 A-2

 EXHIBIT B 
 [FORM OF] 
 NOTICE OF B EXCHANGE 

Och-Ziff Holding Corporation 
 Och-Ziff Holding
LLC 
 OZ Management LP 
 OZ Advisors LP

 OZ Advisors II LP 

9 West
57th Street 

New York, New York, 10019 
 Attention: Chief
Legal Officer 
 Fax: (212) [    ] 
 Electronic Mail: [    ] 
 Reference is hereby made to the
Amended and Restated Exchange Agreement, dated as of August 1, 2012 (as amended, supplemented, or restated from time to time, the “Exchange Agreement”), among Och-Ziff Capital Management Group LLC, Och-Ziff Holding Corporation,
Och-Ziff Holding LLC, OZ Management LP, OZ Advisors LP, OZ Advisors II LP and the Och-Ziff Limited Partners from time to time party thereto, as amended from time to time. Capitalized terms used but not defined herein shall have the meanings given to
them in the Exchange Agreement. 
 The undersigned Och-Ziff Limited Partner desires to exchange the number of Och-Ziff Operating
Group Units set forth below. 
  

							
	Legal Name of Och-Ziff Limited Partner:	 	  
	 		 	

					
			
	Address:	 	  
	 	

					
			
	Type of Exchange: B Exchange.	 		 	

					
			
	Number of Och-Ziff Operating Group Units to be exchanged:	 	  
	 	

 The undersigned (1) hereby represents that the Och-Ziff Operating Group Units set forth above are owned by the
undersigned, free of all liens, (2) hereby exchanges such Och-Ziff Operating Group Units for Class A Shares and/or the applicable Cash Amount as set forth in the Exchange Agreement, (3) hereby irrevocably constitutes and appoints any
officer of the Och-Ziff Operating Group Partnerships, the Och-Ziff General Partners or the Issuer as its attorney, with full power of substitution, to exchange said Och-Ziff Operating Group Units on the books of the Och-Ziff Operating Group
Partnerships for Class A Shares on the books of the Issuer, with full power of substitution in the premises and/or the applicable Cash Amount. 

  
 B-1

 IN WITNESS WHEREOF the undersigned, by authority duly given, has caused this Notice of
Exchange to be executed and delivered by the undersigned or by its duly authorized attorney. 
  

	
	  

	Name:

  

			
	Dated:	 	  

  
 B-2First Amended and Restated Registration Rights Agreement

 Exhibit 10.2 

 
  
 FIRST AMENDED AND RESTATED 
 REGISTRATION RIGHTS AGREEMENT

 OF 
 OCH-ZIFF CAPITAL MANAGEMENT GROUP LLC 
 Dated as of August 1, 2012

  
  

 Table of Contents 

 

							
	 	 	 	  	Page	 
	
	 ARTICLE I
 DEFINITIONS AND OTHER MATTERS
	   

  

			
	 Section 1.1
	 	 Definitions
	  	 	1	  
	 Section 1.2
	 	 Definitions Generally
	  	 	6	  
	
	ARTICLE II	  
	REGISTRATION RIGHTS	  
			
	 Section 2.1
	 	 Exchange Registration
	  	 	6	  
	 Section 2.2
	 	 Demand Registration
	  	 	7	  
	 Section 2.3
	 	 Shelf Registration
	  	 	8	  
	 Section 2.4
	 	 Suspension of Use of Registration Statement
	  	 	9	  
	 Section 2.5
	 	 Piggyback Registration
	  	 	10	  
	 Section 2.6
	 	 Lock-Up Agreements
	  	 	12	  
	 Section 2.7
	 	 Registration Procedures
	  	 	12	  
	 Section 2.8
	 	 Indemnification by the Company
	  	 	15	  
	 Section 2.9
	 	 Indemnification by Registering Covered Persons
	  	 	16	  
	 Section 2.10
	 	 Conduct of Indemnification Proceedings
	  	 	16	  
	 Section 2.11
	 	 Contribution
	  	 	17	  
	 Section 2.12
	 	 Participation in Underwritten Public Offering
	  	 	18	  
	 Section 2.13
	 	 Other Indemnification
	  	 	18	  
	 Section 2.14
	 	 Cooperation by the Company
	  	 	18	  
	 Section 2.15
	 	 Parties in Interest
	  	 	18	  
	 Section 2.16
	 	 Acknowledgement Regarding the Company
	  	 	18	  
	 Section 2.17
	 	 Mergers, Recapitalizations, Exchanges or Other Transactions Affecting Registrable Securities
	  	 	18	  
	
	ARTICLE III	  
	MISCELLANEOUS	  
			
	 Section 3.1
	 	 Term of the Agreement; Termination of Certain Provisions
	  	 	19	  
	 Section 3.2
	 	 Amendments; Waiver
	  	 	19	  
	 Section 3.3
	 	 Governing Law
	  	 	20	  
	 Section 3.4
	 	 Submission to Jurisdiction; Waiver of Jury Trial
	  	 	20	  
	 Section 3.5
	 	 Notices
	  	 	20	  
	 Section 3.6
	 	 Severability
	  	 	21	  
	 Section 3.7
	 	 Specific Performance
	  	 	21	  
	 Section 3.8
	 	 Assignment; Successors
	  	 	21	  
	 Section 3.9
	 	 No Third-Party Rights
	  	 	21	  
	 Section 3.10
	 	 Section Headings
	  	 	22	  
	 Section 3.11
	 	 Execution in Counterparts
	  	 	22	  

  
 i 

			
	Appendix A	  	Covered Persons
		
	Appendix B	  	Covered Person Questionnaire

  
 ii 

 FIRST AMENDED AND RESTATED REGISTRATION RIGHTS AGREEMENT 

This FIRST AMENDED AND RESTATED REGISTRATION RIGHTS AGREEMENT (as may be amended from time to time pursuant to the provisions hereof,
including the appendixes attached hereto, this “Agreement”), is made and entered into as of August 1, 2012, by and among Och-Ziff Capital Management Group LLC, a Delaware limited liability company (the
“Company”), and the Covered Persons (defined below) from time to time party hereto. 
 WHEREAS, the Covered
Persons are holders of Och-Ziff Operating Group A Units (defined below), which, subject to certain restrictions and requirements, are exchangeable at the option of the holder thereof with the Och-Ziff Operating Group (defined below), pursuant to the
Exchange Agreement (defined below) for Class A Shares (defined below) or, at the option of the Och-Ziff Operating Group, the cash equivalent thereof; 
 WHEREAS, this Agreement amends and restates the Registration Rights Agreement among the parties hereto dated as of November 19, 2007 (the “Prior Agreement”); 

WHEREAS, pursuant to the Prior Agreement, the Company provided the Covered Persons with registration rights with respect to Class A
Shares that may be delivered in exchange for their Och-Ziff Operating Group A Units and any other Class A Shares they may otherwise hold from time to time; and 
 WHEREAS, the parties hereto desire to amend and restate the Prior Agreement. 

NOW, THEREFORE, in consideration of the premises and of the mutual agreements, covenants and provisions herein contained, the parties
hereto agree to amend and restate the Prior Agreement in its entirety as follows: 
 ARTICLE I 

DEFINITIONS AND OTHER MATTERS 
 Section 1.1 Definitions. Capitalized terms used in this Agreement without other definition shall, unless expressly stated otherwise, have the meanings specified in this Section 1.1:

 “Affiliate” means any other person that directly, or indirectly through one or more intermediaries,
controls, is controlled by or is under common control of such first person and “control” for these purposes means the direct or indirect power to direct or cause the direction of the management and policies of another person, whether by
operation of law or regulation, through ownership of securities, as trustee or executor or in any other manner. 

“Agreement” has the meaning ascribed to such term in the Recitals. 

“Beneficial owner” has the meaning set forth in Rule 13d-3 under the Exchange Act. 

“Board” means the Board of Directors of the Company. 

 “Chairman” shall mean the Chairman of the Demand Committee, who shall be
the Chairman of the Partner Management Committee as determined pursuant to the applicable Och-Ziff Operating Group Agreements. Initially, Daniel Och shall serve as Chairman. 
 “Class A Shares” means Class A shares representing limited liability company interests in the Company. 
 “Company” has the meaning ascribed to such term in the Recitals. 

“Covered Person” means those persons from time to time listed on Appendix A hereto, and all persons who may become
parties to this Agreement and whose name is required to be listed on Appendix A hereto, in each case in accordance with the terms hereof. 
 “Covered Och-Ziff Operating Group A Units” means, with respect to a Covered Person, such Covered Person’s Och-Ziff Operating Group A Units. 

“Demand Committee” shall mean a committee consisting of the individuals that are from time to time members of the
Partner Management Committee as determined pursuant to the applicable Och-Ziff Operating Group Agreements. The Chairman of the Demand Committee shall be the same as the Chairman of the Partner Management Committee, and the Chairman of the Demand
Committee shall have the sole and exclusive right and authority to take any action (including, the exercise of any demand or request for registration, any determination regarding a Shelf Registration and the consent to any amendment of this
Agreement) pursuant to this Agreement on behalf of the Demand Committee, provided, however, that if and to the extent that at any time no Chairman of the Partner Management Committee exists and, therefore, no Chairman of the Demand
Committee exists, any such action may be taken by a simple majority of the members of the Demand Committee. 
 “Demand
Notice” has the meaning ascribed to such term in Section 2.2(a). 
 “Demand Registration” has the
meaning ascribed to such term in Section 2.2(a). 
 “Exchange Act” means the U.S. Securities Exchange Act
of 1934, as amended, and the rules and regulations promulgated thereunder. 
 “Exchange Agreement” means the
Amended and Restated Exchange Agreement, dated as of the date hereof, by and among the Company, each of the Och-Ziff Operating Group entities and the limited partners of each Och-Ziff Operating Group entity, as amended from time to time. 

“Exchange Registration” has the meaning ascribed to such term in Section 2.1(a). 

“Existing Registration Statement” means the Company’s registration statement on Form S-3, SEC File
No. 333-177993 (so long as effective) or any additional effective “automatic shelf registration statement” as defined under Rule 405 under the Securities Act on Form S-3. 

“FINRA” means the Financial Industry Regulatory Authority. 

  
 2 

 “Governmental Authority” means any national, local or foreign (including
U.S. federal, state or local) or supranational (including European Union) governmental, judicial, administrative or regulatory (including self-regulatory) agency, commission, department, board, bureau, entity or authority of competent jurisdiction.

 “Indemnified Parties” has the meaning ascribed to such term in Section 2.8. 

“Indemnifying Party” has the meaning ascribed to such term in Section 2.10. 

“Maximum Covered Person Participation Amount” has the meaning ascribed to such term in Section 2.5(a). 

“Maximum Demand Offering Size” has the meaning ascribed to such term in Section 2.2(e). 

“Maximum Piggyback Offering Size” has the meaning ascribed to such term in Section 2.5(b). 

“New York Courts” has the meaning ascribed to such term in Section 3.4. 

“Och-Ziff” means the Company and its consolidated subsidiaries, including the Och-Ziff Operating Group. 

“Och-Ziff Operating Group” means, collectively, persons directly controlled by Och-Ziff Holding Corporation, a Delaware
corporation, or Och-Ziff Holding LLC, a Delaware limited liability company, during the term of this Agreement. As of the date hereof, the Och-Ziff Operating Group is comprised of OZ Management LP, a Delaware limited partnership, OZ Advisors LP, a
Delaware limited partnership, and OZ Advisors II LP, a Delaware limited partnership. 
 “Och-Ziff Operating Group
Agreements” means, collectively, the limited partnership agreements and other organizational documents of each of the entities within the Och-Ziff Operating Group, as the same may be amended or implemented from time during the term of this
Agreement. 
 “Och-Ziff Operating Group A Units” means, collectively, the units designated as the “Class A
common units” representing limited partnership interests in each of the entities within the Och-Ziff Operating Group issued under the applicable Och-Ziff Operating Group Agreement on or prior to the date hereof. 

“Partner Management Committee” shall mean the Partner Management Committee of each Och-Ziff Operating Group entity as it
may be constituted from time to time in accordance with the applicable Och-Ziff Operating Group Agreement and, which, as of the date hereof, consists of Messrs. Och, Windreich, Frank, Cohen, Varga, Kelly and Brown, with Mr. Och serving as
Chairman. 

  
 3 

 “Permitted Transferee” means any transferee of an Och-Ziff Operating Group
A Unit after the date hereof, the transfer of which was permitted by the Och-Ziff Operating Group Agreements. 

“Piggyback Registrable Securities” means Registrable Securities then held by Covered Persons or to be held by Covered
Persons upon an exchange pursuant to the Exchange Agreement occurring in connection with a Piggyback Registration hereunder. 

“Prior Agreement” has the meaning ascribed to such term in the Recitals. 

“Piggyback Registration” has the meaning ascribed to such term in Section 2.5(a). 

“Pro Rata Basis” means a pro rata amount, determined based on the sum of (i) the number of Class A Shares held
of record by each relevant person as of such date of determination and (ii) any Class A Shares that each relevant person has the right to acquire in the future as a result of any exchange, conversion, exercise or settlement of any
securities or rights held of record by such person as of such date of determination (disregarding for such purposes all vesting provisions and transfer restrictions and assuming that all of such securities or rights are settled in Class A
Shares). 
 “Proposed Participation Amount” means the aggregate number of Class A Shares each relevant
Person has validly elected to include in any Demand Registration or Piggyback Registration, as applicable. 

“Registering Covered Person” has the meaning ascribed to such term in Section 2.7(a). 

“Registrable Securities” means Class A Shares that may be delivered in exchange for Och-Ziff Operating Group A
Units or otherwise held from time to time by Covered Persons that are “affiliates” (as such term is defined in Rule 144 under the Securities Act). For purposes of this Agreement, Registrable Securities shall cease to be Registrable
Securities when (i) such Registrable Securities have been disposed of pursuant to an effective registration statement; (ii) such Registrable Securities have been sold pursuant to Rule 144 under the Securities Act or otherwise transferred
in a manner that results in the security being so transferred being freely transferable thereafter; or (iii) such Registrable Securities cease to be outstanding (or issuable upon exchange of Och-Ziff Operating Group A Units). Registrable
Securities shall not include any such Class A Shares covered by an Exchange Registration (as defined in Section 2.1(a)) or any such Class A Shares issued under an effective registration statement on Form S-8 and, in any case,
delivered in exchange for Och-Ziff Operating Group A Units held by persons who are not “affiliates” (as such term is defined in Rule 144 under the Securities Act) of the Company. 

“Registration Expenses” means any and all expenses incident to the performance of or compliance with any registration or
marketing of Registrable Securities, including all (i) SEC and securities exchange registration and filing fees, and all other fees and expenses payable in connection with the listing of securities on any securities exchange or automated
interdealer quotation system, (ii) fees and expenses of compliance with any securities or “blue sky” laws (including reasonable fees and disbursements of counsel in connection with “blue sky” qualifications of the securities
registered), (iii) expenses in connection with the preparation, 

  
 4 

 
printing, mailing and delivery of any registration statements, prospectuses and other documents in connection therewith and any amendments or supplements thereto, (iv) security engraving and
printing expenses, (v) reasonable fees and disbursements of counsel for Och-Ziff and customary fees and expenses for independent certified public accountants retained by Och-Ziff, (vi) reasonable fees and expenses of any special experts
retained by Och-Ziff in connection with such registration, (vii) reasonable fees, out-of-pocket costs and expenses of the Covered Persons, including one counsel for all of the Covered Persons participating in the offering selected by the Demand
Committee, (viii) fees and expenses in connection with any review by FINRA of the underwriting arrangements or other terms of the offering, and all fees and expenses of any “qualified independent underwriter,” including the fees and
expenses of any counsel thereto, (ix) fees and disbursements of underwriters customarily paid by issuers or sellers of securities, but excluding any underwriting fees, discounts and commissions attributable to the sale of Registrable
Securities, (x) costs of printing and producing any agreements among underwriters, underwriting agreements, any “blue sky” or legal investment memoranda and any selling agreements and other documents in connection with the offering,
sale or delivery of the Registrable Securities, (xi) transfer agents’ and registrars’ fees and expenses and the fees and expenses of any other agent or trustee appointed in connection with such offering, (xii) expenses relating
to any analyst or investor presentations or any “road shows” undertaken in connection with the registration, marketing or selling of the Registrable Securities and (xiii) all out-of-pocket costs and expenses incurred by Och-Ziff or
their appropriate officers in connection with their compliance with Section 2.7(l). 
 “Registration
Statement” has the meaning ascribed to such term in Appendix B. 
 “Required Third-Party Piggyback
Securities” shall mean the number of Class A Shares that the Company is required to include in any Demand Registration or Piggyback Registration or Resale Shelf Registration Statement hereunder pursuant to the terms of any Third-Party
Agreement. 
 “Resale Shelf Registration Statement” has the meaning ascribed to such term in
Section 2.3(a). “SEC” means the Securities and Exchange Commission. 
 “Securities Act”
means the U.S. Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder. 
 “Shelf
Registration” has the meaning ascribed to such term in Section 2.2(c). 
 “Third-Party Agreement”
means any agreement by and between the Company and any Person that is not a Covered Person that holds or has a right to acquire Class A Shares, pursuant to which such Person has the right to require the Company to include such Class A
Shares in a registration statement filed by the Company (whether or not for its own account) under the Securities Act. 

“Underwritten Public Offering” means an underwritten public offering pursuant to an effective registration statement
under the Securities Act. 
 “Ziffs” means, collectively, Ziff Investors Partnership, L.P. II and Ziff
Investors Partnership, L.P. IIA. 

  
 5 

 Section 1.2 Definitions Generally. Wherever required by the context of this
Agreement, the singular shall include the plural and vice versa, and the masculine gender shall include the feminine and neuter genders and vice versa, and references to any agreement, document or instrument shall be deemed to refer to such
agreement, document or instrument as amended, supplemented or modified from time to time. When used herein: 
 (a) the word
“or” is not exclusive; 
 (b) the words “including,” “includes,” “included” and
“include” are deemed to be followed by the words “without limitation”; 
 (c) the terms “herein,”
“hereof” and “hereunder” and other words of similar import refer to this Agreement as a whole and not to any particular section, paragraph or subdivision; 
 (d) the word “person” means any individual, corporation, limited liability company, trust, joint venture, association, company, partnership or other legal entity or a government or any
department or agency thereof or self-regulatory organization; and 
 (e) all section, paragraph or clause references not
attributed to a particular document shall be references to such parts of this Agreement, and all exhibit, annex and schedule references not attributed to a particular document shall be references to such exhibits, annexes and schedules to this
Agreement. 
 ARTICLE II 
 REGISTRATION RIGHTS 
 Section 2.1 Exchange Registration.

 (a) The Company may, in its sole discretion, elect to file and cause to be declared effective under the Securities Act by
the SEC one or more registration statements on any appropriate form or, in the alternative, file a prospectus supplement to any Existing Registration Statement (the “Exchange Registration”) covering, in each case, the delivery by
the Company, from time to time, to the Covered Persons of Class A Shares registered under the Securities Act in exchange for Och-Ziff Operating Group A Units. 
 (b) If the Company elects to utilize an Exchange Registration, it shall give prompt notice of such election to the Demand Committee, which notice shall include the anticipated filing date of the
registration statement or prospectus supplement to an Existing Registration Statement (as the case may be) relating to such Exchange Registration. The notice referred to in this Section 2.1(b) may be revoked at any time. 

(c) If the Company elects to utilize an Exchange Registration, it shall be liable for and pay all Registration Expenses in connection
with any Exchange Registration, regardless of whether such registration is effected. 
 (d) The Company shall have no
obligation pursuant to this Section 2.1 to file an Exchange Registration, cause an Exchange Registration to be declared effective, maintain the effectiveness of an Exchange Registration or deliver Class A Shares to a Covered Person
pursuant to an Exchange Registration. 

  
 6 

 Section 2.2 Demand Registration. 

(a) Subject to any contractual obligations to the contrary, if at any time prior to the first Quarterly Exchange Date pursuant to
Section 2.2(a)(iv) of the Exchange Agreement, the Company shall receive a written request (a “Demand Notice”) from the Demand Committee that the Company effect the registration under the Securities Act of all or any portion of
the Registrable Securities specified in the Demand Notice (a “Demand Registration”), specifying the information set forth under Section 2.7(i), then the Company shall use its commercially reasonable efforts to effect, as
expeditiously as reasonably practicable, subject to the restrictions in Section 2.4, the registration under the Securities Act of the Registrable Securities for which the Demand Committee has requested registration under this Section 2.2,
all to the extent necessary to permit the disposition (in accordance with the intended methods thereof as specified) of such Registrable Securities. If the Demand Committee elects to effect a Demand Registration, the provisions of
Section 2.5(a) with respect to the notices required and the determination of the number of Piggyback Registrable Securities to be included in a Piggyback Registration shall apply mutatis mutandis to such Demand Registration, but the
inclusion of such Registrable Securities pursuant to this Section 2.2 shall be treated as part of the Demand Registration and not as a Piggyback Registration hereunder. 
 (b) The Demand Committee may request an unlimited number of Demand Registrations at any time prior to the first Quarterly Exchange Date pursuant to Section 2.2(a)(iv) of the Exchange Agreement,
subject to the limitations set forth in Section 2.4. 
 (c) Subject to the availability of an Existing Registration
Statement or Form S-3 (or any successor registration form) to effect a Demand Registration, at the request of the Demand Committee, any Demand Registration shall be a shelf registration effected in accordance with Rule 415 under the Securities Act
or any successor or similar rule (a “Shelf Registration”). 
 (d) At any time, the Demand Committee may revoke
such Demand Registration request by providing a notice to the Company revoking such request. The Company shall be liable for and pay all Registration Expenses in connection with any Demand Registration, whether or not so revoked. 

  
 7 

 (e) At the request of the Demand Committee, the Demand Registration shall involve an
Underwritten Public Offering. If a Demand Registration involves an Underwritten Public Offering and the managing underwriter advises the Company and the Demand Committee that, in its view, the number of Registrable Securities and other securities
requested to be included in such registration exceeds the largest number of Class A Shares that can be sold without having a material adverse effect on such offering, including the price at which such shares can be sold (the “Maximum
Demand Offering Size”), the Company shall include in such Demand Registration, in the priority listed below, up to the Maximum Demand Offering Size: 
 (i) first, all Registrable Securities requested to be registered in the Demand Registration by the Demand Committee and all Required Third-Party Piggyback Securities (allocated as between the Covered
Persons that have elected to participate in such Demand Registration in the aggregate and the holders of Required Third-Party Piggyback Securities in the aggregate on a Pro Rata Basis, and further allocated among the Covered Persons participating in
such Demand Registration on a pro rata basis based on their respective Proposed Participation Amount, in each case, as and if necessary to ensure that the offering does not to exceed the Maximum Demand Offering Size); and 

(ii) second, any securities proposed to be registered by the Company or any securities proposed to be registered for the
account of any other persons, with such priorities among them as the Company shall determine. 
 Section 2.3 Shelf
Registration. 
 (a) Subject to any contractual obligations to the contrary, the Company shall prepare and file, at its own
expense, not later than the first Quarterly Exchange Date pursuant to Section 2.2(a)(iv) of the Exchange Agreement and subsequently from time to time through 2017 as determined by the Demand Committee in its sole discretion, a prospectus
supplement or such supplemental materials to any Existing Registration Statement then required by SEC rules and regulations or, if the Company is unable to effect a resale pursuant to an Existing Registration Statement, a new “shelf”
registration statement on an appropriate form for an offering to be made on a continuous basis pursuant to Rule 415 under the Securities Act (the Existing Registration Statement as amended or supplemented and any new shelf registration statement,
each a “Resale Shelf Registration Statement”), in each case permitting the registration for resale of all Registrable Securities by the Covered Persons in accordance with the methods of distribution elected by the Covered Persons
pursuant to the questionnaire referred to in paragraph (b) below and set forth in the Resale Shelf Registration Statement. The Company shall use its reasonable efforts to cause the Resale Shelf Registration Statement, if not an Existing
Registration Statement, to be declared effective by the SEC as promptly as reasonably practicable after the filing thereof, and, in any case, subject to Sections 2.3(c) and 2.4, to keep such Resale Shelf Registration Statement continuously effective
for a period ending when all Class A Shares of the Company covered by the Resale Shelf Registration Statement are no longer Registrable Securities. The Demand Committee shall have the right to request that an Underwritten Public Offering be
effected off the Resale Shelf Registration Statement at any time, subject to Section 2.4. Any such Underwritten Public Offering shall be subject to the same priority provisions as set forth in Section 2.2(e). 

(b) The Company shall give written notice to all Covered Persons at least 20 business days prior to the anticipated filing date of a new
shelf registration statement that is a Resale Shelf Registration Statement or any prospectus supplement to an Existing Registration Statement that is or would be a Resale Shelf Registration Statement, which notice shall include a questionnaire in
the form set forth in Appendix B hereto. At the time such new shelf registration statement or prospectus supplement is filed, each Covered Person that has delivered to the Company a duly completed and executed questionnaire on or prior to the date

  
 8 

 
which is ten business days prior to such time shall be named as a selling securityholder in the Resale Shelf Registration Statement and the related prospectus in such a manner as to permit such
Covered Person to deliver such prospectus to purchasers of Registrable Securities in accordance with applicable law. If required by applicable law, subject to the terms and conditions hereof, after effectiveness of the Resale Shelf Registration
Statement, the Company shall file a supplement to such prospectus or amendment to the Resale Shelf Registration Statement not less than once a quarter as necessary to name as selling securityholders therein any Covered Persons that provide to the
Company a duly completed and executed questionnaire in the form set forth in Appendix B hereto and shall use reasonable efforts to cause any post-effective amendment to such Resale Shelf Registration Statement filed for such purpose to be declared
effective by the SEC as promptly as reasonably practicable after the filing thereof. 
 (c) The Company shall prepare and file
such additional registration statements as necessary every three years (or such other period of time as may be required to maintain continuously effective shelf registration statements) and use its commercially reasonable efforts to cause such
registration statements to be declared effective by the SEC so that a shelf registration statement remains continuously effective, subject to Section 2.4, with respect to resales of Registrable Securities as and for the periods required under
Section 2.3(a), such subsequent registration statements to constitute a Resale Shelf Registration Statement hereunder. 

Section 2.4 Suspension of Use of Registration Statement 

(a) Upon prior written notice to the Demand Committee and the Covered Persons, the Company may postpone effecting a registration (or
suspend the use of a Resale Shelf Registration Statement or Shelf Registration) pursuant to Section 2.2 and Section 2.3 on up to three occasions during any period of six consecutive months for a reasonable time specified in the notice but
not exceeding 120 days in the aggregate (which period may not be extended or renewed), if (i) the Company is pursuing a material financing, acquisition, merger, joint venture, reorganization, disposition or similar transaction or the Company is
resolving comments on its public filings with the SEC or similar events and the Board determines in good faith that the Company’s ability to pursue or consummate such a transaction or resolve such comments would be materially adversely affected
by any required disclosure of such transaction or circumstances in any registration statement; (ii) a Demand Registration or a Piggyback Registration (defined in Section 2.5(a) below) in which Covered Persons were able to participate was
completed within the prior 90 days; or (iii) the Company is in possession of other material non-public information and the Board determines in good faith that the disclosure of such information during the period specified in such notice would
not be in the best interests of the Company. 
 (b) If all reports required to be filed by the Company pursuant to the Exchange
Act have not been filed by the required date without regard to any extension, or if the consummation of any business combination by the Company has occurred or is probable for purposes of Rule 3-05 or Article 11 of Regulation S-X promulgated under
the Securities Act or any similar successor rule, upon written notice thereof by the Company to the Demand Committee and the Covered Persons, the rights of the Demand Committee and the Covered Persons to offer, sell or distribute any Registrable
Securities pursuant to any registration 

  
 9 

 
statement or to require the Company to take action with respect to the registration or sale of any Registrable Securities pursuant to any registration statement shall be suspended until the date
on which the Company has filed such reports or obtained and filed the financial information required by Rule 3-05 or Article 11 of Regulation S-X to be included or incorporated by reference, as applicable, in a registration statement, and the
Company shall notify the Demand Committee and the Covered Persons in writing as promptly as practicable when such suspension is no longer required. The Company’s rights to suspend its obligations under this Section 2.4(b) shall be in
addition to its rights under Section 2.4(a). 
 Section 2.5 Piggyback Registration. 

(a) Subject to any contractual obligations to the contrary, if the Company proposes at any time to register any Class A Shares
under the Securities Act (other than an Exchange Registration, registration on Form S-8 or Form S-4 (or any similar successor forms), or registrations in connection with dividend reinvestment and stock purchase plans), whether or not for sale for
its own account, the Company shall each such time give prompt written notice at least 20 business days prior to the anticipated filing date of the registration statement or, in the case of an Existing Registration Statement, any prospectus
supplement relating to such registration to the Demand Committee, which notice shall offer the Demand Committee the opportunity to elect to register for resale the number of Registrable Securities held by Covered Persons as the Demand Committee may
request (the “Maximum Covered Person Participation Amount”), subject to the provisions of Section 2.5(b) (a “Piggyback Registration”). 
 If the Demand Committee elects to effect a Piggyback Registration, the Company shall give written notice of the registration statement or prospectus supplement to an Existing Registration Statement (as
the case may be) relating to such Piggyback Registration to all Covered Persons at least 15 business days prior to such anticipated filing date (which date shall be specified in such notice), and any Covered Person electing to participate in such
Piggyback Registration shall notify the Demand Committee and the Company at least 10 business days prior to any such anticipated filing date of its election to include Registrable Securities in such Piggyback Registration. Each Covered Person
electing to so participate may elect to include, in the Piggyback Registration, Piggyback Registrable Securities in an amount up to that number of Piggyback Registrable Securities then held by such Covered Person multiplied by a fraction, the
numerator of which shall be the Maximum Covered Person Participation Amount and the denominator of which shall be the aggregate number of Piggyback Registrable Securities then held by all Covered Persons electing to participate in such Piggyback
Registration; provided, that if any Covered Person elects not to participate in such Piggyback Registration up to its portion of the Maximum Covered Person Participation Amount as provided above, the Demand Committee shall have the sole
discretion to permit the other Covered Persons to include in such Piggyback Registration additional Piggyback Registrable Securities in the same proportions as determined above; and provided further, that the participation of each Covered
Person in any such Piggyback Registration shall be reduced (without duplication) by the aggregate number of Registrable Securities sold by such Covered Person and its Permitted Transferees pursuant to Rule 144 under the Securities Act or another
exemption from the registration requirements of the Securities Act prior to the date of such Piggyback Registration. Any determination with respect to the number of Registrable Securities that may be included in any Piggyback Registration by any
Covered Person shall be made by the Demand Committee in accordance with this Agreement and such determination shall be final. 

  
 10 

 Upon the request of the Demand Committee, the Company shall use its commercially reasonable
efforts to effect the registration under the Securities Act of all Registrable Securities that the Company has been so requested to register by the Demand Committee, to the extent necessary to permit the disposition of such Registrable Securities to
be so registered, provided, that: (i) if such registration involves an Underwritten Public Offering, all such Covered Persons to be included in the Company’s registration must sell their Registrable Securities to the underwriters
selected by the Company on the same terms and conditions as apply to the Company or any other selling person, as applicable, and (ii) if, at any time after giving notice of its intention to register any securities pursuant to this
Section 2.5(a) and prior to the effective date of the registration statement filed in connection with such registration or the filing date of any prospectus supplement to an Existing Registration Statement filed in connection with such
registration, the Company shall determine for any reason not to register such securities, the Company shall give written notice to all such Covered Persons and, thereupon, shall be relieved of its obligation to register any Registrable Securities in
connection with such registration. No registration effected under this Section 2.5 shall relieve the Company of its obligations to effect a Demand Registration to the extent required by Section 2.2 or a Resale Shelf Registration to the
extent required by Section 2.3. The Company shall pay all Registration Expenses in connection with each Piggyback Registration. 
 (b) Subject to any contractual obligations to the contrary, if a Piggyback Registration involves an Underwritten Public Offering and the managing underwriter advises the Company that, in its view, the
number of Registrable Securities and other securities intended to be included in such registration exceeds the largest number of Class A Shares that can be sold without having a material adverse effect on such offering, including the price at
which such shares can be sold (the “Maximum Piggyback Offering Size”), the Company shall include in such registration, in the following priority, up to the Maximum Piggyback Offering Size: 

(i) first, the Company securities proposed to be registered for the account of the Company or, if such registration is
not for the sale of Company securities for the account of the Company but is to comply with the demand registration rights of third parties, the Company securities proposed to be registered pursuant to such demand registration rights of third
parties; and 
 (ii) second, all Registrable Securities permitted to be included in such registration by Covered
Persons and all Required Third-Party Piggyback Securities (allocated as between the Covered Persons that have elected to participate in such Piggyback Registration in the aggregate and the holders of Required Third-Party Piggyback Securities in the
aggregate on a Pro Rata Basis, and further allocated among the Covered Persons participating in such Piggyback Registration on a Pro Rata Basis based on their respective Proposed Participation Amount, in each case, as and if necessary to ensure that
the offering does not to exceed the Maximum Piggyback Offering Size). 

  
 11 

 (c) Notwithstanding any provision in this Section 2.5 or elsewhere in this Agreement,
no provision relating to the registration of Registrable Securities shall be construed as permitting any Covered Person to effect a transfer of securities that is otherwise prohibited by the terms of any agreement between such Covered Person and any
Och-Ziff entity. 
 Section 2.6 Lock-Up Agreements. If any registration of Registrable Securities shall be effected
in connection with an Underwritten Public Offering, neither the Company nor any Covered Person shall offer, pledge, announce the intention to sell, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to
sell, grant any option, right or warrant to purchase or otherwise transfer, dispose of or hedge, directly or indirectly, or enter into any swap or other agreement that transfers, in whole or in part, any of the economic consequences of ownership of
any Class A Shares or other securities of the Company or any securities convertible into or exercisable or exchangeable for Class A Shares or other securities of the Company (except as part of such Underwritten Public Offering and except
as otherwise permitted by any lock-up executed or granted in connection with such Underwritten Public Offering) during the period beginning 14 days prior to the consummation of the Underwritten Public Offering until the earlier of (i) such time
as the Company and the lead managing underwriter shall agree and (ii) 180 days following the pricing of the Underwritten Public Offering, provided, however, in the event the Ziffs do not elect to participate in any such
Underwritten Public Offering, the Ziffs will not be subject to the lock-up provisions of this Section 2.6, unless the lead managing underwriter(s) inform(s) the Company in writing that any refusal by the Ziffs to agree to such lock-up may have
a negative impact on the price and/or execution of the Underwritten Public Offering, in which case, the Ziffs shall agree to the provisions of this Section 2.6, but for a period not to exceed 90 days. 

Section 2.7 Registration Procedures. In connection with any request by the Demand Committee that Registrable Securities be
registered pursuant to Sections 2.2 or 2.5 and in connection with any Resale Shelf Registration pursuant to Section 2.3, subject to the provisions of such Sections and unless otherwise set forth in this Section 2.7, the paragraphs below
shall be applicable: 
 (a) The Company shall as expeditiously as reasonably practicable prepare and file with the SEC a
prospectus supplement or such supplemental materials to any Existing Registration Statement then required by SEC rules and regulations or a registration statement on any form for which the Company then qualifies or that counsel for the Company shall
deem appropriate and which form shall be available for the registration of the Registrable Securities to be registered thereunder in accordance with the intended method of distribution thereof, and use its commercially reasonable efforts to cause
such filed registration statement to become and remain effective for a period of 30 days or such earlier date as, all of the Registrable Securities of the Covered Persons included in any such registration statement (each, a “Registering
Covered Person”) shall have actually been sold, or in the case of a Resale Shelf Registration Statement and a Shelf Registration, the date on which all of the Registrable Securities of all Registering Covered Persons shall have actually
been sold. 
 (b) Prior to filing a registration statement or prospectus supplement to an Existing Registration Statement or
any amendments or supplements thereto, the Company shall, if requested, furnish to each Registering Covered Person and each underwriter, if any, of 

  
 12 

 
the Registrable Securities covered by such registration statement copies of such offering documents as proposed to be filed. Upon and after the filing of such registration statement or prospectus
supplement to an Existing Registration Statement or any amendments or supplements thereto, the Company shall furnish to such Registering Covered Person and underwriter, if any, (in each case in an electronic format, unless otherwise required by
applicable law) such number of copies of such offering documents (in each case including all exhibits thereto and documents incorporated by reference therein) and such other documents as such Registering Covered Person or underwriter may reasonably
request in order to facilitate the disposition of the Registrable Securities owned by such Registering Covered Person. Each Registering Covered Person shall have the right to request in writing that the Company modify any information contained in
such registration statement or prospectus supplement to an Existing Registration Statement or any amendments or supplements thereto pertaining solely to such Registering Covered Person and the Company shall use its commercially reasonable efforts to
comply with such request; provided, however, that the Company shall not have any obligation to so modify any information if the Company reasonably expects that so doing would cause the prospectus to contain an untrue statement of a material
fact or omit to state any material fact required to be stated therein or necessary to make the statements therein not misleading. 
 (c) After the filing of a registration statement or in the case of any prospectus supplement to an Existing Registration Statement, the Company shall (i) cause the related prospectus to be
supplemented by any required prospectus supplement, and, as so supplemented, to be filed pursuant to Rule 424 under the Securities Act, (ii) comply with the provisions of the Securities Act with respect to the disposition of all Registrable
Securities covered by such registration statement during the applicable period in accordance with the intended methods of disposition by the Registering Covered Person thereof set forth in such registration statement or supplement to such prospectus
and (iii) promptly notify in writing each Registering Covered Person holding Registrable Securities covered by such registration statement of any stop order issued or threatened by the SEC suspending the effectiveness of such registration
statement or any state securities commission and use commercially reasonable efforts to prevent the entry of such stop order or to obtain the withdrawal of such order if entered. 

(d) To the extent any “free writing prospectus” (as defined in Rule 405 under the Securities Act) is used, the Company shall
file with the SEC any free writing prospectus that is required to be filed by the Company with the SEC and retain any free writing prospectus not required to be filed. 
 (e) The Company shall use its commercially reasonable efforts to (i) register or qualify the Registrable Securities covered by such registration statement under such other securities or “blue
sky” laws of such jurisdictions in the United States as any Registering Covered Person holding such Registrable Securities or each underwriter, if any, reasonably (in light of such Covered Person’s or underwriter’s intended plan of
distribution) requests and (ii) cause such Registrable Securities to be registered with or approved by such other governmental agencies or authorities as may be necessary by virtue of the business and operations of the Company and do any and
all other acts and things that may be reasonably necessary or advisable to enable such Registering Covered Person to consummate the disposition of the Registrable Securities owned by such person; provided, that the Company shall not be
required to (A) qualify generally to do business in any jurisdiction where it would not otherwise be required to qualify but for this Section 2.7(e), (B) subject itself to taxation in any such jurisdiction or (C) consent to
general service of process in any such jurisdiction. 

  
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 (f) The Company shall promptly notify in writing each Registering Covered Person holding
such Registrable Securities covered by such registration statement or each underwriter, if any, at any time when a prospectus relating thereto is required to be delivered under the Securities Act, of the occurrence of an event requiring the
preparation of a supplement or amendment to such prospectus so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus will not contain an untrue statement of a material fact or omit to state any material fact
required to be stated therein or necessary to make the statements therein not misleading and promptly prepare and make available to each such Registering Covered Person or underwriter, if any, and file with the SEC any such supplement or amendment.

 (g) The Demand Committee may select an underwriter or underwriters in connection with any Underwritten Public Offering made
pursuant to a Demand Registration hereunder, and the Company shall retain such underwriter or underwriters as soon as reasonably practicable after such selection. In connection with any Underwritten Public Offering, the Company shall enter into
customary agreements (including an underwriting agreement in customary form) and take all such other actions as are reasonably required in order to expedite or facilitate the disposition of such Registrable Securities in any such Underwritten Public
Offering, including if necessary the engagement of a “qualified independent underwriter” in connection with the qualification of the underwriting arrangements with FINRA. 

(h) Subject to the execution of confidentiality agreements reasonably satisfactory in form and substance to the Company, upon the
reasonable request of the Demand Committee or underwriter (if any), the Company shall give to each Registering Covered Person, each underwriter (if any) and their respective counsel and accountants (i) reasonable and customary access to the
books and records of the Company and (ii) such opportunities to discuss the business of the Company with its directors, officers, counsel and the independent public accountants who have certified its financial statements, as shall be
appropriate, in the reasonable judgment of counsel to such Registering Covered Person or underwriter, to enable them to exercise their due diligence responsibility. 
 (i) Each Registering Covered Person registering securities under Sections 2.2, 2.3 or 2.5 shall promptly furnish in writing to the Company the information set forth in Appendix B and such other
information regarding itself, the distribution of the Registrable Securities as the Company may from time to time reasonably request and such other information as may be legally required or advisable in connection with such registration, including
such information necessary to correct any inaccuracies in information previously provided to the Company. 
 (j) Each
Registering Covered Person and each underwriter, if any, agrees that, upon receipt of any notice from the Company of the happening of any event of the kind described in Section 2.7(f), such Registering Covered Person or underwriter shall
forthwith discontinue disposition of Registrable Securities pursuant to the registration statement covering such Registrable Securities until such Registering Covered Person’s or underwriter’s receipt of

  
 14 

 
the copies of the supplemented or amended prospectus contemplated by Section 2.7(f), and, if so directed by the Company, such Registering Covered Person or underwriter shall deliver to the
Company all copies, other than any permanent file copies then in such Registering Covered Person’s possession, of the most recent prospectus covering such Registrable Securities at the time of receipt of such notice. If the Company shall give
such notice, the Company shall extend the period during which such registration statement shall be maintained effective (including the period referred to in Section 2.7(a)) by the number of days during the period from and including the date of
the giving of notice pursuant to Section 2.7(f) to the date when the Company shall make available to such Registering Covered Person a prospectus supplemented or amended to conform with the requirements of Section 2.7(f). 

(k) The Company shall use its commercially reasonable efforts to list all Registrable Securities covered by such registration statement
on any securities exchange or quotation system on which any of the Registrable Securities are then listed or traded. 
 (l) The
Company shall have appropriate officers of Och-Ziff (i) prepare and make presentations at any “road shows” and before analysts and rating agencies, as the case may be and (ii) otherwise use their commercially reasonable efforts
to cooperate as reasonably requested by the underwriters in the offering, marketing or selling of the Registrable Securities. 

(m) The Company shall cooperate with the Registering Covered Persons to facilitate the timely delivery of Registrable Securities to be
sold, which shall not bear any restrictive legends, and to enable such Registrable Securities to be issued in such denominations and registered in such names as such Registering Covered Persons may reasonably request at least two business days prior
to the closing of any sale of Registrable Securities. 
 Section 2.8 Indemnification by the Company. In the event of
any registration of any Registrable Securities of the Company under the Securities Act pursuant to this Article II, the Company will, and it hereby does, indemnify and hold harmless, to the extent permitted by law, a Registering Covered Person, each
Affiliate of such Registering Covered Person and their respective directors and officers or general and limited partners or members and managing members (including any director, officer, Affiliate, employee, agent and controlling person of any of
the foregoing) and each other person, if any, who controls such seller within the meaning of the Securities Act (collectively, the “Indemnified Parties”), from and against any and all losses, claims, damages and liabilities
(including, legal fees and other expenses incurred in connection with any suit, action or proceeding or any claim asserted, as such fees and expenses are incurred), joint or several, that arise out of, or are based upon, (1) any untrue
statement or alleged untrue statement of a material fact contained in any registration statement or amendment or supplement thereto under which such Registrable Securities were registered or any omission or alleged omission to state therein a
material fact required to be stated therein or necessary in order to make the statements therein not misleading, or (2) any untrue statement or alleged untrue statement of a material fact contained in any prospectus, any free writing prospectus
or any “issuer information” filed or required to be filed pursuant to Rule 433(d) under the Securities Act in respect of the Registrable Securities, or amendment or supplement thereto, or any omission or alleged omission to state therein a
material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading; provided, that the Company shall not be liable to any Indemnified Party in any such case to the
extent that any such 

  
 15 

 
loss, claim, damage, liability (or action or proceeding in respect thereof) or expense arises out of or is based upon any untrue statement or alleged untrue statement or omission or alleged
omission made in such registration statement, prospectus, any free writing prospectus or any “issuer information” filed or required to be filed pursuant to Rule 433(d) under the Securities Act in respect of the Registrable Securities, or
amendment or supplement thereto, in reliance upon and in conformity with written information furnished to the Company with respect to such seller specifically for use in the preparation thereof. 

Section 2.9 Indemnification by Registering Covered Persons. Each Registering Covered Person hereby indemnifies and holds
harmless, and the Company may require, as a condition to including any Registrable Securities in any registration statement filed in accordance with this Article II, that the Company shall have received an undertaking reasonably satisfactory to it
from any underwriter to indemnify and hold harmless, the Company and all other prospective sellers of Registrable Securities, the Board, each officer of the Company who signed the Registration Statement and each person, if any, who controls the
Company and all prospective sellers of Registrable Securities within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act to the same extent as the indemnity set forth in Section 2.8 above, but only with
respect to any losses, claims, damages or liabilities that arise out of, or are based upon, any untrue statement or omission or alleged untrue statement or omission made in reliance upon and in conformity with written information furnished to the
Company with respect to such seller or any underwriter, as applicable, specifically for use in the preparation of such registration statement, prospectus, any free writing prospectus or any “issuer information” filed or required to be
filed pursuant to Rule 433(d) under the Securities Act in respect of the Registrable Securities, or amendment or supplement thereto. Such indemnity shall remain in full force and effect regardless of any investigation made by or on behalf of the
Company, any of the Registering Covered Persons or any underwriter, or any of their respective Affiliates, directors, officers or controlling persons and shall survive the transfer of such securities by such person. In no event shall any such
indemnification liability of any Registering Covered Person be greater in amount than the dollar amount of the proceeds received by such Registering Covered Person upon the sale of the Registrable Securities giving rise to such indemnification
obligation. 
 Section 2.10 Conduct of Indemnification Proceedings. Promptly after receipt by an Indemnified Party
hereunder of written notice of the commencement of any action or proceeding with respect to which a claim for indemnification may be made pursuant to Section 2.8 or Section 2.9 above, such Indemnified Party shall, if a claim of
indemnification in respect thereof is to be made pursuant to this Article II, give written notice of the commencement of such action to the person against whom indemnification is sought (the “Indemnifying Party”); provided,
that the failure of the Indemnified Party to give notice as provided herein shall not relieve the Indemnifying Party of its obligations under this Article II, except to the extent that the Indemnifying Party is materially prejudiced by such failure
to give notice. 
 In case any such action is brought against an Indemnified Party, unless in such Indemnified Party’s
reasonable judgment a conflict of interest between such Indemnified Party and indemnifying parties may exist in respect of such claim, the Indemnifying Party shall be entitled to participate in and to assume the defense thereof, jointly with any
other Indemnifying Party similarly notified to the extent that it may wish, with counsel reasonably satisfactory to 

  
 16 

 
such Indemnified Party, and after notice from the Indemnifying Party to such Indemnified Party of its election to assume the defense thereof, the Indemnifying Party will not be liable to such
Indemnified Party for any legal or other expenses subsequently incurred by the latter in connection with the defense thereof other than reasonable costs of investigation. It is understood and agreed that the Indemnifying Party shall not, in
connection with any proceeding, be liable for the fees and expenses of more than one separate firm (in addition to any local counsel) for all Indemnified Parties, and that all such fees and expenses shall be reimbursed as they are incurred. Any such
separate firm (x) for any Covered Person, its Affiliates, directors and officers and any control persons of such Indemnified Party, shall be designated in writing by the Demand Committee, and (y) in all other cases shall be designated in
writing by the Company. The Indemnifying Party shall not be liable for any settlement of any proceeding effected without its prior written consent, but if settled with such consent or if there shall be a final judgment for the plaintiff, the
Indemnifying Party agrees to indemnify each Indemnified Party from and against any loss or liability by reason of such settlement or judgment. No Indemnifying Party shall, without the prior written consent of the Indemnified Party, effect any
settlement of any pending or threatened proceeding in respect of which any Indemnified Party is or could have been a party and indemnification could have been sought hereunder by such Indemnified Party, unless such settlement (A) includes an
unconditional release of such Indemnified Party, in form and substance reasonably satisfactory to such Indemnified Party, from all liability on claims that are the subject matter of such proceeding and (B) does not include any statement as to
or any admission of fault, culpability or a failure to act by or on behalf of any Indemnified Party. 
 Section 2.11
Contribution. If the indemnification provided for in this Article II from the Indemnifying Party is unavailable to an Indemnified Party hereunder in respect of any losses, claims, damages, liabilities or expenses referred to herein, then the
Indemnifying Party, in lieu of indemnifying such Indemnified Party, shall contribute to the amount paid or payable by such Indemnified Party as a result of such losses, claims, damages, liabilities or expenses in such proportion as is appropriate to
reflect the relative fault of the Indemnifying Party and Indemnified Parties in connection with the actions which resulted in such losses, claims, damages, liabilities or expenses, as well as any other relevant equitable considerations. The relative
fault of such Indemnifying Party and Indemnified Parties shall be determined by reference to, among other things, whether any action in question, including any untrue or alleged untrue statement of a material fact or omission or alleged omission to
state a material fact, has been made by, or relates to information supplied by, such Indemnifying Party or Indemnified Parties, and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such
action. The amount paid or payable by a party under this Section 2.11 as a result of the losses, claims, damages, liabilities and expenses referred to above shall be deemed to include any legal or other fees or expenses reasonably incurred by
such party in connection with any investigation or proceeding. 
 The parties hereto agree that it would not be just and
equitable if contribution pursuant to this Section 2.11 were determined by pro rata allocation or by any other method of allocation which does not take account of the equitable considerations referred to in the immediately preceding paragraph.
No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. 

  
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 Section 2.12 Participation in Underwritten Public Offering. No Covered Person
may participate in any Underwritten Public Offering hereunder unless such Covered Person (a) agrees to sell such Covered Person’s securities on the basis provided in any underwriting arrangements approved by the Demand Committee and the
Company and (b) completes and executes all questionnaires, powers of attorney, indemnities, underwriting agreements and other documents reasonably required under the terms of such underwriting arrangements and the provisions of this Agreement.

 Section 2.13 Other Indemnification. Indemnification similar to that specified herein (with appropriate
modifications) shall be given by the Company and the Registering Covered Person participating therein with respect to any required registration or other qualification of securities under any federal or state law or regulation or Governmental
Authority other than the Securities Act. 
 Section 2.14 Cooperation by the Company. If a Covered Person shall
transfer any Registrable Securities pursuant to Rule 144, the Company shall use its commercially reasonable efforts to cooperate with such Covered Person and shall use commercially reasonable efforts to provide to such Covered Person such
information and legal opinions as may be required to be provided to effect a transfer of such Registrable Securities under Rule 144. 
 Section 2.15 Parties in Interest. Each Covered Person shall be entitled to receive the benefits of this Agreement and shall be bound by the terms and provisions of this Agreement by reason of
such Covered Person’s election to participate in a registration under this Article II. To the extent the Och-Ziff Operating Group A Units held by Covered Persons are effectively transferred to a Permitted Transferee, the Permitted Transferee
shall be entitled to receive the benefits of this Agreement and shall be bound by the terms and provisions of this Agreement upon becoming bound hereby pursuant to Section 3.1(c). 

Section 2.16 Acknowledgement Regarding the Company. Other than those determinations reserved expressly to the Demand
Committee, all determinations necessary or advisable under this Article II shall be made by the Board, the determinations of which shall be final and binding. 
 Section 2.17 Mergers, Recapitalizations, Exchanges or Other Transactions Affecting Registrable Securities. The provisions of this Agreement shall apply to the full extent set forth herein with
respect to the Registrable Securities, to any and all securities or units of the Och-Ziff Operating Group or the Company or any successor or assign of any such person (whether by merger, amalgamation, consolidation, sale of assets or otherwise) that
may be issued in respect of, in exchange for, or in substitution of such Registrable Securities, by reason of any dividend, split, issuance, reverse split, combination, recapitalization, reclassification, merger, amalgamation, consolidation or
otherwise. 

  
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 ARTICLE III 
 MISCELLANEOUS 
 Section 3.1 Term of the Agreement;
Termination of Certain Provisions. 
 (a) The term of this Agreement shall continue until such time as no Covered Person
holds any Covered Och-Ziff Operating Group A Units or Registrable Securities. 
 (b) Unless this Agreement is terminated
pursuant to Section 3.1(a) hereof, a Covered Person shall be bound by the provisions of this Agreement with respect to any Covered Och-Ziff Operating Group A Units or Registrable Securities until such time as such Covered Person ceases to hold
any Covered Och-Ziff Operating Group A Units or Registrable Securities. Thereafter, such Covered Person shall no longer be bound by the provisions of this Agreement other than Sections 2.9, 2.10, 2.11 and 2.13 and this Article III, and such Covered
Person’s name shall be removed from Appendix A to this Agreement. Any person that has ceased to be a Covered Person and that reacquires Covered Och-Ziff Operating Group A Units or Registrable Securities shall be added to Appendix A as a Covered
Person; provided, that such person shall first sign an agreement in the form approved by the Company acknowledging that such person is bound by the terms and provisions of this Agreement. 

(c) Any Permitted Transferee shall be added to Appendix A as a Covered Person; provided, that such Permitted Transferee shall
first sign an agreement in the form approved by the Company acknowledging that such Permitted Transferee is bound by the terms and provisions of this Agreement. 
 Section 3.2 Amendments; Waiver. 
 (a) Subject to Section 3.2(c),
no provision of this Agreement may be amended unless such amendment is approved in writing by the Company and the Covered Persons who, together with their Permitted Transferees, collectively hold at least two-thirds of the Registrable Securities;
provided, that no such amendment shall be effective if such amendment will have a disproportionate effect on certain Covered Persons unless all such Covered Persons disproportionately affected consent in writing to such amendment and
provided, further, no such amendment shall impair or diminish the rights of the Demand Committee, unless approved in writing by the Demand Committee. No provision of this Agreement may be waived unless such waiver is in writing and signed by
the party against whom the waiver is to be effective. 
 (b) No failure or delay by any party in exercising any right, power or
privilege hereunder shall operate as a waiver thereof nor shall any single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any other right, power or privilege. The rights and remedies herein provided
shall be cumulative and not exclusive of any rights or remedies provided by law. 
 (c) The Company may amend this Agreement in
writing without the approval or consent of any Covered Person or Permitted Transferee if such amendment does not materially and adversely affect any Covered Person’s or Permitted Transferee’s rights under this Agreement. Each Covered
Person understands that from time to time certain other persons may 

  
 19 

 
become Covered Persons and certain Covered Persons will cease to be bound by the provisions of this Agreement pursuant to the terms hereof. This Agreement may be amended from time to time by the
Company (without the approval of any other person) for the purposes of (i) adding to Appendix A Permitted Transferees of the Covered Och-Ziff Operating Group A Units as provided in Section 3.1(c) who agree to be bound by this Agreement and
(ii) removing from Appendix A such persons as shall cease to be bound by the provisions of this Agreement pursuant to Section 3.1(b) hereof, which additions and removals shall be given effect from time to time by appropriate changes to
Appendix A. 
 Section 3.3 Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE
LAW OF THE STATE OF NEW YORK WITHOUT REGARD TO THE CONFLICTS OF LAW PROVISIONS THEREOF. 
 Section 3.4 Submission to
Jurisdiction; Waiver of Jury Trial. Each party to this Agreement hereby irrevocably and unconditionally, with respect to any matter or dispute arising under, or in connection with, this Agreement and the transactions contemplated hereby
(i) submits for itself and its property in any legal action or proceeding relating to this Agreement, or for recognition and enforcement of any judgment in respect thereof, to the exclusive general jurisdiction of the courts of the State of New
York, the courts of the United States of America for the Southern District of New York, and any appellate courts thereof (the “New York Courts”) (and covenants not to commence any legal action or proceeding in any other venue or
jurisdiction); (ii) consents that any such action or proceeding may be brought in the New York Courts and waives any objection that it may now or hereafter have to the venue of any such action or proceeding in any such court or that such action
or proceeding was brought in an inconvenient court and agrees not to plead or claim the same; (iii) agrees that service of process in any such action will be in accordance with the laws of the State of New York but that nothing herein shall
affect the right to effect service of process in any other manner permitted by law; (iv) waives any and all immunity from suit, execution, attachment or other legal process; and (v) waives in connection with any such action any and all
rights to a jury trial. The parties agree that any judgment of any New York Court may be enforced in any court having jurisdiction over any party of any of their assets. 
 Section 3.5 Notices. 
 (a) All notices, requests, claims, demands and
other communications hereunder shall be in writing and shall be given (and shall be deemed to have been duly given upon receipt) by delivery in person, by courier service, by fax, by electronic mail (delivery receipt requested) or by registered or
certified mail (postage prepaid, return receipt requested) to the respective parties at the following addresses (or at such other address for a party as shall be specified in a notice given in accordance with this Section 3.5): 

If to a Covered Person, initially to the address indicated in such Covered Person’s questionnaire (a form of which is
attached hereto as Appendix B) or to the address then in the records of the Och-Ziff Operating Group or the Company, as applicable, with a copy to the Chief Legal Officer of the Company, as set forth below, or if no such questionnaire has been
delivered or if no address is then in the records of the Och-Ziff Operating Group or the Company, 

  
 20 

 c/o Och-Ziff Capital Management Group LLC 

9 West 57th Street 
 New York, New York 10019 
 Attention: Chief Legal Officer 

Fax: (212) 719-7402 
 Electronic Mail: Jeffrey.Blockinger@ozcap.com 
 If to the Company, 

c/o Och-Ziff Capital Management Group LLC 
 9 West 57th
Street, 13th Floor 

New York, New York 10019 
 Attention: Chief Legal Officer 
 Fax: (212) 719-7402 

Electronic Mail: Jeffrey.Blockinger@ozcap.com 
 The Company shall be responsible for notifying each Covered Person of the receipt of a notice, request, claim, demand or other communication under this Agreement relevant to such Covered Person as set
forth above (and each Covered Person shall notify the Company of any change in address for notices, requests, claims, demands or other communications). 
 Section 3.6 Severability. If any provision of this Agreement is finally held to be invalid, illegal or unenforceable, (a) the remaining terms and provisions hereof shall be unimpaired and
(b) the invalid or unenforceable term or provision shall be deemed replaced by a term or provision that is valid and enforceable and that comes closest to expressing the intention of the invalid or unenforceable term or provision. 

Section 3.7 Specific Performance. Each party hereto acknowledges that the remedies at law of the other parties for a breach
or threatened breach of this Agreement would be inadequate and, in recognition of this fact, any party to this Agreement, without posting any bond, and in addition to all other remedies that may be available, shall be entitled to obtain equitable
relief in the form of specific performance, a temporary restraining order, a temporary or permanent injunction or any other equitable remedy that may be then available. 
 Section 3.8 Assignment; Successors. This Agreement shall be binding upon and inure to the benefit of the respective legatees, legal representatives, successors and assigns of the Covered
Persons; provided, however, that a Covered Person may not assign this Agreement or any of his rights or obligations hereunder, and any purported assignment in breach hereof by a Covered Person shall be void; and provided
further, that no assignment of this Agreement by the Company or to a successor of the Company (by operation of law or otherwise) shall be valid unless such assignment is made to a person which succeeds to the business of such person
substantially as an entirety. 
 Section 3.9 No Third-Party Rights. Other than as expressly provided herein, nothing
in this Agreement shall be construed to give any person other than the parties to this Agreement any legal or equitable right, remedy, or claim under or with respect to this Agreement 

  
 21 

 
or any provision of this Agreement. This Agreement and all of its provisions and conditions are for the sole and exclusive benefit of the parties to this Agreement and their successors and
assigns. 
 Section 3.10 Section Headings. The headings of sections in this Agreement are provided for convenience
only and will not affect its construction or interpretation. 
 Section 3.11 Execution in Counterparts. This
Agreement may be executed in any number of counterparts, each of which shall be deemed an original, but all such counterparts shall together constitute but one and the same instrument. 

  
 22 

 IN WITNESS WHEREOF, the parties hereto have duly executed or caused to be duly executed this
Agreement as of the dates indicated. 
  

			
	OCH-ZIFF CAPITAL MANAGEMENT GROUP LLC
		
	By:	 	 /s/ Joel M. Frank

	Name:	 	Joel M. Frank
	Title:	 	Chief Financial Officer
	
	COVERED PERSONS
		
	By:	 	 /s/ Daniel S. Och

	Name:	 	Daniel S. Och
		
	By:	 	 /s/ David Windreich

	Name:	 	David Windreich
		
	By:	 	 /s/ Michael L. Cohen

	Name:	 	Michael L. Cohen
		
	By:	 	 /s/ Zoltan Varga

	Name:	 	Zoltan Varga
		
	By:	 	 /s/ Harold A. Kelly

	Name:	 	Harold A. Kelly
		
	By:	 	 /s/ Joel M. Frank

	Name:	 	Joel M. Frank
		
	By:	 	 /s/ James-Keith Brown

	Name:	 	James-Keith Brown
	
	THE FAMILY TRUST CREATED UNDER ARTICLE IV OF THE DANIEL S. OCH 2011 GST TRUST I AGREEMENT
		
	By:	 	 /s/ Jane C. Och

	Jane C. Och, as Trustee
		
	By:	 	 /s/ Daniel S. Och

	Daniel S. Och, as Trustee

  
 23 

 
			
	THE FAMILY TRUST CREATED UNDER ARTICLE IV OF THE DANIEL S. OCH 2011 GST TRUST II AGREEMENT
		
	By:	 	 /s/ Jane C. Och

	Jane C. Och, as Trustee
		
	By:	 	 /s/ Daniel S. Och

	Daniel S. Och, as Trustee
	
	THE FAMILY TRUST CREATED UNDER ARTICLE IV OF THE DANIEL S. OCH 2011 GST TRUST III AGREEMENT
		
	By:	 	 /s/ Jane C. Och

	Jane C. Och, as Trustee
		
	By:	 	 /s/ Daniel S. Och

	Daniel S. Och, as Trustee
	
	THE FAMILY TRUST CREATED UNDER ARTICLE IV OF THE OCH CHILDREN’S TRUST 2012 TRUST AGREEMENT
		
	By:	 	 /s/ Jane C. Och

	Jane C. Och, as Trustee
		
	By:	 	 /s/ Daniel S. Och

	Daniel S. Och, as Trustee
	
	THE SUSAN OCH KALVER TRUST FAMILY TRUST 2012
		
	By:	 	 /s/ Jane C. Och

	Jane C. Och, as Trustee
		
	By:	 	 /s/ Daniel S. Och

	Daniel S. Och, as Investment Trustee

  
 24 

 
			
	THE JONATHAN OCH FAMILY TRUST 2012
		
	By:	 	 /s/ Jane C. Och

	Jane C. Och, as Trustee
		
	By:	 	 /s/ Daniel S. Och

	Daniel S. Och, as Investment Trustee
	
	THE NANCY G. BERNSTEIN FAMILY TRUST 2012
		
	By:	 	 /s/ Jane C. Och

	Jane C. Och, as Trustee
		
	By:	 	 /s/ Daniel S. Och

	Daniel S. Och, as Investment Trustee
	
	THE FAMILY TRUST CREATED UNDER ARTICLE III OF THE JANE C. OCH 2011 DESCENDANTS’ TRUST AGREEMENT
		
	By:	 	 /s/ Jonathan Och

	Jonathan Och, as Trustee
		
	By:	 	 /s/ Susan Och Kalver

	Susan Och Kalver, as Trustee
	
	THE DANIEL S. OCH DESCENDANTS’ TRUST 1995
		
	By:	 	 /s/ Jane C. Och

	Jane C. Och, as Trustee
		
	By:	 	 /s/ Jonathan Och

	 Jonathan Och, as Trustee

  
 25 

 Appendix A 
 Covered Persons 
 Daniel S. Och 
 Jeffrey Blockinger 
 James-Keith Brown 
 Michael Cohen 
 Wayne Cohen 
 Joel Frank 
 Kaushik Ghosh 
 Harold Kelly 
 James Levin 
 Rick Lyon 
 Dan Manor 
 James O’Connor 
 Sean Rhatigan 
 Joshua Ross 
 Joseph Samuels 
 Boaz Sidikaro 
 Zoltan Varga 
 David Windreich 
 Each Related Trust (as defined in the Exchange Agreement) of the above Covered
Persons 

  
 A-1

 Appendix B 
 OCH-ZIFF CAPITAL MANAGEMENT GROUP LLC 
 Covered Person Questionnaire

 The undersigned Covered Person understands that the Company has filed or intends to file with the SEC a registration
statement for the registration of the Class A Shares (as such may be amended, the “Registration Statement”), in accordance with Sections 2.2, 2.3 or 2.5 of the First Amended and Restated Registration Rights Agreement, dated as
of August 1, 2012 (the “Registration Rights Agreement”), among the Company and the Covered Persons referred to therein. A copy of the Agreement is available from the Company upon request at the address set forth below. All
capitalized terms used and not otherwise defined herein shall have the meanings ascribed thereto in the Registration Rights Agreement. 
 NOTICE 
 The undersigned Covered Person hereby gives notice to the Company
of its intention to register Registrable Securities beneficially owned by it and listed below in Item 3 (unless otherwise specified under Item 3) pursuant to the Registration Statement. The undersigned, by signing and returning this
Questionnaire, understands that it will be bound by the terms and conditions of this Questionnaire and the Registration Rights Agreement. 
 Pursuant to the Registration Rights Agreement, the undersigned has agreed to indemnify and hold harmless the Company and all other prospective sellers of Registrable Securities, the Board, each officer of
the Company who signed the Registration Statement and each person, if any, who controls the Company and all other prospective sellers of Registrable Securities within the meaning of Section 15 of the Securities Act or Section 20 of the
Exchange Act, from and against any and all losses, claims, damages and liabilities arising in connection with statements made or omissions concerning the undersigned in the Registration Statement, prospectus, any free writing prospectus or any
“issuer information” in reliance upon the information provided in this Questionnaire. 

  
 B-1

 The undersigned Covered Person hereby provides the following information to the Company and
represents and warrants that such information is accurate and complete: 
 QUESTIONNAIRE 

 

					
	1. Name.
		
	(a)	    	Full Legal Name of Covered Person:
		
		    	  

		
	(b)	    	Full Legal Name of Covered Person (if not the same as (a) above) through which Registrable Securities Listed in Item 3 below are held:
		
		    	  

		
	(c)	    	Full Legal name of DTC Participant (if applicable and if not the same as (b) above) through which Registrable Securities listed in Item 3 below are
held:
		
		    	  

		
	(d)	    	Full Legal Name of natural control person (which means a natural person who directly or indirectly alone or with others has power to vote or dispose of the Registrable
Securities listed in Item 3 below):
		
		    	  

	
	2. Address for Notices to Covered Person:
		
		    	  

		
		    	  

		
		    	  

			
		    	Telephone:	 	  

		    	Fax:	 	  

			
		    	Email:	 	  

			
		    	Contact Person:	 	  

  
 B-2

			
	3. Beneficial Ownership of Registrable Securities:
		
		  	Number of Registrable Securities beneficially owned:
		
		  	  

		
		  	  

		
		  	  

	
	4. Broker-Dealer Status:
		
	(a)	  	Are you a broker-dealer?
		
		  	 Yes   ̈            No   ̈

		
		  	Note: If yes, the SEC’s staff has indicated that you should be identified as an underwriter in the Registration Statement.
		
	(b)	  	Are you an affiliate of a broker-dealer?
		
		  	 Yes   ̈            
No   ̈

		
		  	If yes, please identify the broker-dealer with whom the Covered Person is affiliated and the nature of the affiliation:
		
		  	  

		
		  	  

		
		  	  

		
	(c)	  	If you are an affiliate of a broker-dealer, do you certify that you bought the Registrable Securities in the ordinary course of business, and at the time of the purchase of the
Registrable Securities to be resold, you had no agreements or understandings, directly or indirectly, with any person to distribute the Registrable Securities?
		
		  	 Yes   ̈            No   ̈

  
 B-3

			
		  	Note: If no, the SEC’s staff has indicated that you should be identified as an underwriter in the Registration Statement.
		
	(d)	  	If you are (1) a broker-dealer or (2) an affiliate of a broker-dealer and answered “no” to Question 4(c), do you consent to being named as an underwriter in the
Registration Statement?
		
		  	 Yes   ̈            No   ̈

	
	5. Beneficial Ownership of Other Securities of the Company Owned by the Covered Person.
		
		  	Except as set forth below in this Item 5, the undersigned Covered Person is not the beneficial or registered owner of any securities of the Company other than the
Registrable Securities listed above in Item 3.
		
		  	Type and Amount of Other Securities beneficially owned by the Covered Person:
		
		  	  

		
		  	  

		
		  	  

	
	6. Relationships with the Company:
		
		  	Except as set forth below, neither the undersigned Covered Person nor any of its affiliates, officers, directors or principal equity holders (owners of 5% or more of the equity
securities of the undersigned) has held any position or office or has had any other material relationship with the Company (or its predecessors or affiliates) during the past three years.
		
		  	State any exceptions here:

  
 B-4

			
	7. Intended Method of Disposition of Registrable Securities (Only Applicable to a Demand Registration Effected Pursuant to Section 2.2 of the First Amended and
Restated Registration Rights Agreement):
		
		  	Intended Method or Methods of Disposition of Registrable Securities beneficially owned:
		
		  	  

		
		  	  

		
		  	  

 The undersigned agrees to promptly notify the Company of any inaccuracies or changes in the information provided herein
that may occur subsequent to the date hereof and at any time while the Registration Statement remains in effect. 
 By signing below, the
undersigned consents to the disclosure of the information contained herein in its answers to Items 1 through 7 and the inclusion of such information in the Registration Statement and the related prospectus. The undersigned understands that such
information will be relied upon by the Company in connection with the preparation or amendment of the Registration Statement and the related prospectus. 
 IN WITNESS WHEREOF the undersigned, by authority duly given, has caused this Questionnaire to be executed and delivered either in person or by its duly authorized agent. 

 

									
	Dated:	 	  
	 		 	 Beneficial

Owner:
	 	  

 

															
		 		 		 	By:	 	  
	 	
		 		 		 		 		 	Name:	 	  
	 	
		 		 		 		 		 	Title:	 	  
	 	

  
 B-5

 PLEASE SEND A COPY OF THE COMPLETED AND EXECUTED QUESTIONNAIRE BY FAX OR ELECTRONIC MAIL,
AND RETURN THE ORIGINAL BY OVERNIGHT MAIL, TO: 
  

					
		 	Och-Ziff Capital Management Group LLC
		 	9 West 57th Street
		 	New York, NY 10019
		 	Attention:	 	Chief Legal Officer
		 	Facsimile:	 	(212) 719-7402
		 	Electronic Mail: Jeffrey.Blockinger@ozcap.com

  
 B-6

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