Document:

FORM
OF
 RESTRICTED SHARE UNIT AWARD AGREEMENT
UNDER THE FORTRESS
INVESTMENT GROUP LLC
2007 OMNIBUS EQUITY INCENTIVE PLAN

This
Award Agreement (this ‘‘RSU Award
Agreement’’), dated as of
                , 2007 (the
‘‘Date of Grant’’), is made by and between
FIG LLC, a Delaware limited liability company (the
‘‘Company’’), and
                     (the
‘‘Participant’’). Capitalized terms not
defined herein shall have the meaning ascribed to them in the Fortress
Investment Group LLC 2007 Omnibus Equity Incentive Plan (the
‘‘Plan’’). Where the context permits,
references to the Company shall include any successor to the
Company.

1.    Grant of Restricted Share Units. The
Company hereby grants to the Participant
                     restricted share
units (the ‘‘RSUs’’), subject to all of the
terms and conditions of this RSU Award Agreement and the
Plan.

2.    Form of Payment. Except as otherwise
provided in the Plan, each RSU granted hereunder shall represent the
right to receive [one (1)] Share[s] [upon
[date] following the date such RSU becomes vested and
nonforfeitable in accordance with the vesting schedule set forth in
Exhibit A hereto][no later than the [six (6)] month
anniversary of the date such RSU becomes vested and nonforfeitable in
accordance with the vesting schedule set forth in Exhibit A
hereto].

3.    Restrictions.

(a)    The
RSUs may not be sold, assigned, transferred, pledged, hypothecated or
otherwise disposed of or encumbered and shall be subject to a risk of
forfeiture as described in Section 3(c) until the lapse of the
Restricted Period (as defined below) and any additional requirements or
restrictions contained in this RSU Award Agreement or in the Plan have
been otherwise satisfied, terminated or expressly waived by the Company
in writing.

(b)    Unless the Restricted Period is previously
terminated in accordance with Section 3(c), the Shares subject to the
RSUs shall become issuable hereunder (provided, that such issuance is
otherwise in accordance with federal and state securities laws) in
accordance with the vesting schedule set forth in Exhibit A
hereto (the ‘‘Restricted
Period’’).

(c)    Except as otherwise provided
under the terms of the Plan, or in the vesting schedule attached
hereto, if Participant’s employment is terminated for any reason
(the ‘‘Termination’’), then this RSU Award
Agreement shall terminate and all rights of the Participant with
respect to RSUs that have not vested shall immediately terminate.
Except as otherwise provided under the terms of the Plan or in the
vesting schedule attached hereto, the RSUs that are subject to
restrictions upon the date of Termination shall be forfeited without
payment of any consideration, and neither the Participant nor any of
his or her successors, heirs, assigns, or personal representatives
shall thereafter have any further rights or interests in such
RSUs.

4.    Voting and Other Rights. Participant
shall have no rights of a shareholder (including the right to
distributions or dividends) until Shares are issued following vesting
of Participant’s RSUs; provided, that with respect to the period
commencing on the date an RSU becomes vested and ending on the date the
Shares subject to such RSU are issued pursuant to this agreement,
Participant shall be entitled to receive an amount equal to the product
of (i) the number of Shares to be delivered as a result of such
vesting, and (ii) the amount of cash distributed with respect to an
outstanding Share during such period. No interest or other earnings
will be credited with respect to such payment.

5.    RSU
Award Agreement Subject to Plan. This RSU Award Agreement is made
pursuant to all of the provisions of the Plan, which is incorporated
herein by this reference, and is intended, and shall be interpreted in
a manner, to comply therewith. In the event of any conflict between the
provisions of this RSU Award Agreement and the provisions of the Plan,
the provisions of the Plan shall govern.

6.    No Rights
to Continuation of Employment. Nothing in the Plan or this RSU
Award Agreement shall confer upon Participant any right to continue in
the employ of the Company or any Subsidiary thereof or shall interfere
with or restrict the right of the Company or its shareholders (or

of a Subsidiary or its shareholders, as the
case may be) to terminate Participant’s employment any time for
any reason whatsoever, with or without cause.

7.    Tax
Withholding. The Company shall be entitled to require a cash
payment by or on behalf of the Participant and/or to deduct from other
compensation payable to the Participant any sums required by federal,
state or local tax law to be withheld or to satisfy any applicable
payroll deductions with respect to the payment of any RSU.

8.    Section 409A Compliance. Notwithstanding anything
to the contrary contained in this RSU Award Agreement, to the extent
that the Board determines that the Plan or the RSU is subject to
Section 409A of the Code and fails to comply with the requirements of
Section 409A of the Code, the Board reserves the right (without any
obligation to do so) to amend or terminate the Plan and/or amend,
restructure, terminate or replace the RSU in order to cause the RSU to
either not be subject to Section 409A of the Code or to comply with the
applicable provisions of such section.

9.    Governing
Law. This RSU Award Agreement shall be governed by, interpreted
under, and construed and enforced in accordance with the internal laws,
and not the laws pertaining to conflicts or choices of laws, of the
State of Delaware applicable to agreements made and to be performed
wholly within the State of Delaware.

10.    RSU Award
Agreement Binding on Successors. The terms of this RSU Award
Agreement shall be binding upon Participant and upon
Participant’s heirs, executors, administrators, personal
representatives, transferees, assignees and successors in interest, and
upon the Company and its successors and assignees, subject to the terms
of the Plan.

11.    No Assignment. Notwithstanding
anything to the contrary in this RSU Award Agreement, neither this RSU
Award Agreement nor any rights granted herein shall be assignable by
Participant.

12.    Necessary Acts. Participant
hereby agrees to perform all acts, and to execute and deliver any
documents that may be reasonably necessary to carry out the provisions
of this RSU Award Agreement, including but not limited to all acts and
documents related to compliance with federal and/or state securities
and/or tax laws.

13.    Severability. Should any
provision of this RSU Award Agreement be held by a court of competent
jurisdiction to be unenforceable, or enforceable only if modified, such
holding shall not affect the validity of the remainder of this RSU
Award Agreement, the balance of which shall continue to be binding upon
the parties hereto with any such modification (if any) to become a part
hereof and treated as though contained in this original RSU Award
Agreement. Moreover, if one or more of the provisions contained in this
RSU Award Agreement shall for any reason be held to be excessively
broad as to scope, activity, subject or otherwise so as to be
unenforceable, in lieu of severing such unenforceable provision, such
provision or provisions shall be construed by the appropriate judicial
body by limiting or reducing it or them, so as to be enforceable to the
maximum extent compatible with the applicable law as it shall then
appear, and such determination by such judicial body shall not affect
the enforceability of such provisions or provisions in any other
jurisdiction.

14.    Entire RSU Award Agreement.
This RSU Award Agreement and the Plan contain the entire agreement and
understanding among the parties as to the subject matter
hereof.

15.    Headings. Headings are used solely
for the convenience of the parties and shall not be deemed to be a
limitation upon or descriptive of the contents of any such
Section.

16.    Counterparts. This RSU Award
Agreement may be executed in any number of counterparts, each of which
shall be deemed to be an original and all of which together shall be
deemed to be one and the same
instrument.

17.    Amendment. No amendment or
modification hereof shall be valid unless it shall be in writing and
signed by all parties hereto.

IN WITNESS WHEREOF, the parties hereto have
executed this RSU Award Agreement as of the date set forth
above.

FIG
LLC

				
	By			 
	

				
	Print
Name:			 
	

				
	Title:			 
	

The
undersigned hereby accepts and agrees to all the terms and provisions
of the foregoing RSU Award
Agreement.

PARTICIPANT

				
	Signature			 
	

				
	Print
Name:			 
	

				
	Address:			 
	                        
	

EXHIBIT
A

[insert vesting
schedule]

Except as otherwise set forth in the vesting
schedule above, all RSUs shall accelerate upon Participant’s
termination of employment without cause within the one (1) year period
following a Change of Control. For purposes of this RSU Award
Agreement, ‘‘Change of Control’’ means the
occurrence of any of the following events:

(1)
any Person or any group of Persons acting together which would
constitute a ‘‘group’’ for purposes of Section
13(d) of the Securities and Exchange Act of
1934, or any successor provisions
thereto, excluding any group of Persons, which, if it
includes any Original Partner or any of his Affiliates, includes all
Original Partners then employed by the Company or any of its
Affiliates, is or becomes the Beneficial Owner, directly or indirectly,
of securities of the Company representing more than fifty percent
(50%) of the combined voting power of the Company’s then
outstanding voting securities; or

(2) the
following individuals cease for any reason to constitute a majority of
the number of directors of the Company then serving: individuals who,
on the date of the consummation of the initial public offering of Class
A Shares, constitute the Board and any new director (other than a
director whose initial assumption of office is in connection with an
actual or threatened election contest, including but not limited to a
consent solicitation, relating to the election of directors of the
Company) whose appointment or election by the Board or nomination for
election by the Company’s shareholders was approved or
recommended by a vote of at least two-thirds (2/3) of the directors
then still in office who either were directors on the date of the
consummation of the initial public offering of Class A Shares or whose
appointment, election or nomination for election was previously so
approved or recommended by the directors referred to in this clause
(ii); or

(3) there is consummated a merger or
consolidation of the Company or any direct or indirect subsidiary of
the Company with any other corporation or other entity, and,
immediately after the consummation of such merger or consolidation,
either (i) the Board immediately prior to the merger or consolidation
does not constitute at least a majority of the board of directors of
the company surviving the merger or, if the surviving company is a
subsidiary, the ultimate parent thereof, or (ii) all of the Persons who
were the respective Beneficial Owners of the voting securities of the
Company immediately prior to such merger or consolidation do not
Beneficially Own, directly or indirectly, more than 50% of the
combined voting power of the then outstanding voting securities of the
Person resulting from such merger or consolidation;
or

(4) the shareholders of the Company approve
a plan of complete liquidation or dissolution of the Company or there
is consummated an agreement or series of related agreements for the
sale or other disposition, directly, or indirectly, by the Company of
all or substantially all of the Company’s assets, other than such
sale or other disposition by the Company of all or substantially all of
the Company’s assets to an entity, at least fifty percent
(50%) of the combined voting power of the voting securities of
which are owned by shareholders of the Company in substantially the
same proportions as their ownership of the Company immediately prior to
such sale.

Notwithstanding the foregoing, except with
respect to clause (2) and clause (3)(i) above, a ‘‘Change
of Control’’ shall not be deemed to have occurred by virtue
of the consummation of any transaction or series of related
transactions if, immediately following such transaction or
transactions, the record holders of the shares of the Company
immediately prior to such transaction or series of related transactions
continue to have substantially the same proportionate ownership in an
entity which owns all or substantially all of the assets of the Company
immediately following such transaction or series of related
transactions.

With respect to the definition of Change of
Control, ‘‘Person’’ shall not include (i) the
Company or any of its Subsidiaries, (ii) a trustee or other fiduciary
holding securities under an employee benefit plan of the Company or any
of its Subsidiaries, (iii) an underwriter temporarily holding
securities pursuant to an offering of such securities, or (iv) a
corporation owned, directly or indirectly, by the shareholders of the
Company in substantially the same proportions as their ownership of
shares of the Company.FORM
OF
DISTRIBUTION EQUIVALENT RIGHTS AWARD AGREEMENT
UNDER THE
FORTRESS INVESTMENT GROUP LLC
2007 OMNIBUS EQUITY INCENTIVE
PLAN

This distribution equivalent rights award agreement (this
‘‘Award Agreement’’) is dated as of
                , 2007 (the ‘‘Award
Date’’), by and between FIG LLC, a Delaware limited
liability company (the ‘‘Company’’),
and          (the
‘‘Participant’’). Capitalized terms
not defined herein shall have the meaning ascribed to them in the
Fortress Investment Group LLC 2007 Omnibus Equity Incentive Plan (the
‘‘Plan’’). Where the context permits,
references to the Company shall include any successor to the
Company.

WHEREAS, pursuant to the terms of the Plan and
Restricted Share Unit Award Agreement (the ‘‘RSU Award
Agreement’’), the Company has previously offered to
grant to the Participant the number of Restricted Share Units (the
‘‘RSUs’’) of the Shares, par value
$             per share, identified in Exhibit A under
the heading ‘‘Number of Shares Subject to the
RSU’’; and

WHEREAS, the Board has determined that it
is in the interests of the Company to grant to the Participant,
effective as of the date hereof, a distribution equivalent rights award
(the ‘‘Award’’), upon the terms and
conditions set forth herein in lieu of any adjustment or modification
to the terms of the RSU that may be made in connection with the
distribution as provided under the Plan.

NOW THEREFORE, in
consideration of services rendered and to be rendered by the
Participant, and the mutual promises made herein and the mutual
benefits to be derived therefrom, the parties agree as
follows:

1.    Defined Terms.

As used in this
Award Agreement, the following term has the meaning indicated
below.

‘‘Per Share Distribution
Amount’’ means the amount per share of any
distribution paid to the holders of Shares (as declared from time to
time by the Board of Directors of FIG LLC).

2.    Grant;
Term of Award.

(a)    Subject to the
terms and conditions of this Award Agreement, the Company hereby grants
to the Participant the right to receive a cash payment in the amount
specified in Section  2(b) below. Such cash shall be paid on or
about the date on which a distribution is paid with respect to the
Shares underlying the applicable RSU associated with the Award as
designated under the heading ‘‘Related RSU’’ in
Exhibit A hereto (the ‘‘Related RSU’’)
is paid.

(b)    Subject to Section 7 below,
the amount of the Award shall be an amount equal to (i)  the
Number of Shares Subject to the Related RSU, multiplied by (ii) the Per
Share Distribution Amount. No interest or other earnings will be
credited with respect to such Award.

3.    Continuance of
Service.

The Participant’s continued service through
each applicable Award payment date is a condition to the payment of the
applicable portion of the Award and the rights and benefits under this
Award Agreement. Partial employment or service, even if substantial,
during any applicable period will not entitle the Participant to any
proportionate payment or avoid or mitigate a termination of rights and
benefits upon or following a termination of employment or services as
provided in Section 6 below.

Nothing contained in this Award
Agreement or the Plan constitutes an employment or service commitment
by the Company, confers upon the Participant any right to remain
employed by or in service to the Company, interferes in any way with
the right of the Company at any time to terminate any such employment
or services, or affects the right of the Company to increase or
decrease the Participant’s other compensation or benefits.

4.    Limitations on Rights.

The Award and Award
Agreement are intended to constitute
‘‘unfunded’’ arrangements for purposes of
the Employee Retirement Income Security Act of 1974, as amended, and
the Code. The 

Award will not be treated as property or as a
trust fund of any kind. With respect to an Award, the Participant shall
have no rights as a shareholder, no distribution rights (except as
expressly provided herein) and no voting rights.

The
Participant’s rights with respect to the Award are merely those
of a general unsecured creditor of the Company to receive payment as
described herein subject to the terms and conditions set forth herein.
Neither the Participant nor any other person has any legal or equitable
rights, claims or interest in any specific property or assets of the
Company. No assets of the Company will be held under any trust or held
in any way as collateral security of the fulfilling of the
Company’s obligations under this Award
Agreement.

5.    Restrictions on
Transfer.

Neither the Award nor any other rights of the
Participant under this Award Agreement may be sold, assigned,
transferred, pledged or otherwise disposed of, alienated or encumbered,
either voluntarily or involuntarily.

6.    Effect of
Termination of Services or Expiration of the Related RSU.

If
the Participant ceases to provide services to the Company or any of its
subsidiaries, as applicable, before an Award is eligible for payment
hereunder (regardless of the reason for such termination, whether with
or without cause, voluntarily or involuntarily, or due to death or
disability), the Award shall terminate and be extinguished upon the
date the Participant’s services terminate. If the Related RSU
Agreement becomes vested or expires prior to becoming vested, the Award
shall terminate and be extinguished upon the date the Related RSU
becomes vested or otherwise
expires.

7.    Severability.

Should any
provision of this Award Agreement be held by a court of competent
jurisdiction to be unenforceable, or enforceable only if modified, such
holding shall not affect the validity of the remainder of this Award
Agreement, the balance of which shall continue to be binding upon the
parties hereto with any such modification (if any) to become a part
hereof and treated as though contained in this original Award
Agreement. Moreover, if one or more of the provisions contained in this
Award Agreement shall for any reason be held to be excessively broad as
to scope, activity, subject or otherwise so as to be unenforceable, in
lieu of severing such unenforceable provision, such provision or
provisions shall be construed by the appropriate judicial body by
limiting or reducing it or them, so as to be enforceable to the maximum
extent compatible with the applicable law as it shall then appear, and
such determination by such judicial body shall not affect the
enforceability of such provisions or provisions in any other
jurisdiction.

8.    Tax Withholding.

The
Company shall be entitled to require a cash payment by or on behalf of
the Participant and/or to deduct from other compensation payable to the
Participant any sums required by federal, state or local tax law to be
withheld or to satisfy any applicable payroll deductions with respect
to the payment of any Award.

9.    Entire
Agreement.

This Award Agreement, the Related RSU Agreement
and the Plan together constitute the entire agreement and supersede all
prior understandings and agreements, written or oral, of the parties
hereto with respect to the subject matter hereof.

10.    Incorporation of Plan.

The Plan in hereby
incorporated by reference and made a part hereof, and the Award and
this Award Agreement shall be subject to all terms and conditions of
the Plan. In the event of any conflict between the provisions of this
Award Agreement and the provisions of the Plan, the provisions of the
Plan shall govern.

11.    Governing Law.

The
laws of the State of Delaware shall govern all questions concerning the
construction, validity and interpretation of this Plan, without regard
to such state’s conflicts of laws rules.

12.    Section
Headings.

The section headings of this Award Agreement are
for convenience of reference only and shall not be deemed to alter or
affect any provision hereof.

13.    Section 409A
Compliance.

Notwithstanding anything to the contrary
contained in this Award Agreement, to the extent that the Board
determines that the Plan or the Award is subject to Section 409A of the
Code and fails to comply with the requirements of Section 409A of the
Code, the Board reserves the right (without any obligation to do so) to
amend or terminate the Plan and/or amend, restructure, terminate or
replace the Award in order to cause the Award to either not be subject
to Section 409A of the Code or to comply with the applicable provisions
of such section.

14.    Counterparts.

This
Award Agreement may be executed in any number of counterparts, each of
which shall be deemed to be an original and all of which together shall
be deemed to be one and the same
instrument.

—Signature page
follows—

IN WITNESS WHEREOF, the Company has caused
this Award Agreement to be executed on its behalf by a duly authorized
officer, and the Participant has hereunto set his or her hand as of the
date first above written.

							
	 			FIG
LLC
	 			By:			 
	 			Name:			 
	 			Title:			 
	 			PARTICIPANT
	 			 
	 			Name:			 
	 			Address:			 
	 			 			 
	 			 			 
	

EXHIBIT
A

													
	Award			Related RSU			Number of Shares
 Subject to the
RSU			Record Date			Expiration Date
 (No Later
than
 the Vesting Date
 of the Related

RSU)
	«Award_1»			«Related_RSU_1»			«Number_of_Shares_1»			 			«Expiration_Date_1»
	«Award_2»			«Related_RSU_2»			«Number_of_Shares_2»			 			«Expiration_Date_2»
	«Award_3»			«Related_RSU_3»			«Number_of_Shares_3»			 			«Expiration_Date_3»

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