FORM OF FAIR COMPETITION AGREEMENTForm of Fair Competition Agreement • April 22nd, 2014 • Ares Management Lp • Investment advice • California
Fair Competition Agreement (this “Agreement”), dated as of , 2014 (the “Effective Date”), by Ares Owners Holdings L.P., a Delaware limited partnership (“Ares Owners LP”), and [Name], an individual residing in [State of Residence] (“you”). Capitalized terms used but not defined herein have the meanings ascribed to them in the Agreement of Limited Partnership of Ares Owners LP, dated on or about the Effective Date (the “Ares Owners LP Agreement”); provided that if any such term is also defined in the Unitization Letter (as defined below), such term shall have the meaning ascribed to thereto in the Unitization Letter.
