SCHEDULE B Pursuant to Article I of the JUDAH INVESTMENT. TRUST AGREEMENT, u/t/a dated Dec ember 21, 2006, by and between LEON D. BLACK, as settlor (the "Senior"), and the Settlor and JOHN J. HANNAN, as trustees (the "Trustees"), the Settlor hereby transfers to the Trustees the Settlor's entire limited partnership interest in APOLLO MANAGEMENT IV, L.P., a Delaware limited partnership, to hold in a new and separate trust to be known as the JUDAH INVESTMENT TRUST B, and to be governed by the provisions of the JUDAH INVESTMENT TRUST AGREEMENT (the "Trust Agreement"). The • percentage to be used to establish the Initial Annuity Payment applicable. to the JUDAH INVESTMENT TRUST B (the "Trust") is such percent of the initial fair market value of the Trust Fund of the Trust as finally determined for federal gift tax purposes that, when increased by twenty (20%) percent each subsequent year in accordance with the provisions of subsection (1) of section (B) of Article 11 of the Trust Agreement, results in the Settlor's right to receive the Annuity Payments having a value equal to NINETY-NINE and NINETY-NINE HUNDREDTHS (99.99%) PERCENT of the fair market value of the Trust Fund of the Trust as finally determined for federal gift tax purposes. The day on which the term of the JUDAH INVESTMENT TRUST B shall end shall be the day before the second (2nd) anniversary of its Trust Creation Date. This Schedule B may be signed in counterparts and all of such counterparts shall for all purposes constitute one Schedule B, binding on all the parties hereto. Dated: December 21, 2006 LEON D. BLACK, Settlor and Trustee This Schedule B shall be affixed to the JUDAH INVESTMENT TRUST AGREEMENT and retained as a part thereof. NY I A.1470406%0IWSKAIOI LDOC126$04.0001 EFTA01145964