TERM SHEET FOR DISCUSSION PURPOSES ONLY PRESENTED BY U.S. TRUST, BANK OF AMERICA PRIVATE WEALTH MANAGEMENT, A DIVISION OF BANK OF AMERICA, N.A. ("U.S. Trust" or "Bank") October 16, 2013 This Term Sheet and the information contained herein do not constitute a commitment to lend or otherwise extend credit on the part of U.S. Trust and is presented for discussion purposes only. This Term Sheet is intended as an outline only, and does not purport to summarize all of the terms, conditions, covenants, representations, warranties, and other provisions which would be contained in definitive legal documentation for the proposed transaction. Any such commitment will be issued only in writing subject to appropriate documentation, the terms of which are not limited to those set forth herein. The actual terms and conditions upon which U.S. Trust may extend credit is also subject to satisfactory completion of due diligence, necessary credit approval and such other terms and conditions as determined by U.S. Trust. U.S. Trust reserves the right at any time to cancel or modify this Term Sheet and the terms and conditions presented for discussion herein for any reason. In any event, this proposal expires on November 15, 2013 if the proposed transaction is not closed on or before that date. BORROWER: GUARANTOR: CREDIT FACILITY: PURPOSE: BJAV Marine Limited Unlimited guaranty of payment from Leon Black. $18,200,000.00 or up to 70% of the survey value, whichever is less. Cash out financing of a 1997 54 meter Benetti motor yacht, MY "Starfire" (the "Vessel"). The Credit Facility will not be used directly or indirectly for the purpose of purchasing or carrying "margin stock" as such term is defined in Regulation U of the Board of Governors of the Federal Reserve System, or to reduce or retire indebtedness incurred for such purpose. TERM/MATURITY: 5 years INTEREST RATE: Daily floating rate per year equal to the One Month BBA LIBOR Daily Floating Rate (