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Exhibit 10.01

 
Amendment No. 1 to the
AllianceBernstein L.P. 2010 Long Term Incentive Plan

Amendment Number One (the “Amendment”) to the AllianceBernstein L.P. 2010 Long
Term Incentive Plan (the “Plan”).

Whereas, the Board of Directors (“Board”) of AllianceBernstein Corporation, the
general partner of AllianceBernstein L.P. (the “Company”), desires to amend the
Plan as provided herein; and

Whereas, pursuant to Section 8(a) of the Plan, the Board and the Compensation
Committee of the Board have the authority to, among other things, amend the Plan
in accordance with its terms; and

Whereas, the Plan amendment described below does not constitute a “material
revision” to the Plan, as contemplated in Section 303A.08 of the New York Stock
Exchange Listed Company Manual, and, accordingly, does not require the approval
of the AllianceBernstein Holding L.P. Unitholders.

Now, Therefore, Be it:
 
Resolved, that the Plan is hereby amended, effective May 11, 2011, as follows:
 
1.           The defined term “Independent Director” is hereby removed in its
entirety and replaced by the following defined term:
 
“Non-Management Director” shall mean a member of the Board who is (i)
“independent” within the meaning of Section 303A.02 of the New York Stock
Exchange Listed Company Manual or other applicable law or applicable stock
exchange rules, as determined by the Board in its business judgment, or (ii) a
former executive or former employee of an affiliate of Holding (for this purpose
only, “affiliate” includes any company or other entity that directly, or
indirectly through one or more intermediaries, controls, is controlled by or is
under common control with, the Company).
 
2.           In each instance where the term “Independent Director” is utilized
in the Plan, the term “Non-Management Director” is hereby inserted in its place.
 
 

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