# EDGAR Filing Document

**Accession Number:** 0001332349
**File Stem:** 0001332349-26-000048
**Filing Date:** 2026-5
**Character Count:** 558473
**Document Hash:** 821113e21c8eb26eef72136880f8466e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001332349-26-000048.hdr.sgml**: 20260507

**ACCESSION NUMBER**: 0001332349-26-000048

**CONFORMED SUBMISSION TYPE**: 10-Q

**PUBLIC DOCUMENT COUNT**: 67

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260507

**DATE AS OF CHANGE**: 20260507

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Brookdale Senior Living Inc.
- **CENTRAL INDEX KEY:** 0001332349
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-NURSING & PERSONAL CARE FACILITIES [8050]
- **ORGANIZATION NAME:** 08 Industrial Applications and Services
- **EIN:** 203068069
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 10-Q
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-32641
- **FILM NUMBER:** 26953813

**BUSINESS ADDRESS:**
- **STREET 1:** 105 WESTWOOD PLACE
- **STREET 2:** SUITE 400
- **CITY:** BRENTWOOD
- **STATE:** TN
- **ZIP:** 37027
- **BUSINESS PHONE:** (615) 221-2250

**MAIL ADDRESS:**
- **STREET 1:** 105 WESTWOOD PLACE
- **STREET 2:** SUITE 400
- **CITY:** BRENTWOOD
- **STATE:** TN
- **ZIP:** 37027

?xml version='1.0' encoding='ASCII'? bkd-20260331

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**Form 10-Q** 

☒ **QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934**

**For the quarterly period ended March 31, 2026**

or

☐ **TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934**

For the transition period from _____________ to _____________

**Commission File Number: 001-32641** 

**BROOKDALE SENIOR LIVING INC.** 

*(Exact name of registrant as specified in its charter)*

---

| | |
|:---|:---|
| **Delaware** | **20-3068069** |
| *(State or other jurisdiction<br>of incorporation or organization)* | *(I.R.S. Employer Identification No.)* |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **105 Westwood Place,** | **Suite 400** | **Brentwood,** | **Tennessee** | **37027** |
| *(Address of principal executive offices)* | *(Address of principal executive offices)* | *(Address of principal executive offices)* | *(Address of principal executive offices)* | *(Zip Code)* |

---

*(Registrant's telephone number, including area code)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***(615) 221-2250** 

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol(s)** | **Name of each exchange on which registered** |
| Common Stock, $0.01 Par Value Per Share | BKD | New York Stock Exchange |

---

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.

---

| | | | |
|:---|:---|:---|:---|
| Large accelerated filer | ☒ | Accelerated filer | ☐ |
| Non-accelerated filer | ☐ | Smaller reporting company | ☐ |
| | | Emerging growth company | ☐ |

---

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

------

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒

As of May 5, 2026, 238,789,796 shares of the registrant's common stock, $0.01 par value, were outstanding (excluding restricted stock units).

------

**TABLE OF CONTENTS**

**BROOKDALE SENIOR LIVING INC.**

---

| | | |
|:---|:---|:---|
| | | **PAGE** |
| **PART I.** | **<u>[FINANCIAL INFORMATION](#i8f9cad54674b460fb1350975a80fa629_10)</u>** | |
| **Item 1.** | **<u>[Financial Statements](#i8f9cad54674b460fb1350975a80fa629_13)</u>** | |
| | **<u>[Condensed Consolidated Balance Sheets -](#i8f9cad54674b460fb1350975a80fa629_16)</u>** | |
|  | &nbsp;&nbsp;**<u>[As of](#i8f9cad54674b460fb1350975a80fa629_16)[March 31](#i8f9cad54674b460fb1350975a80fa629_16)[, 202](#i8f9cad54674b460fb1350975a80fa629_16)[6](#i8f9cad54674b460fb1350975a80fa629_16)[(Unaudited) and December 31, 202](#i8f9cad54674b460fb1350975a80fa629_16)[5](#i8f9cad54674b460fb1350975a80fa629_16)</u>** | **<u>[4](#i8f9cad54674b460fb1350975a80fa629_16)</u>** |
|  | **<u>[Condensed Consolidated Statements of Operations -](#i8f9cad54674b460fb1350975a80fa629_19)</u>** |  |
|  | &nbsp;&nbsp;**<u>[Three](#i8f9cad54674b460fb1350975a80fa629_19)[months ended](#i8f9cad54674b460fb1350975a80fa629_19)[March 31](#i8f9cad54674b460fb1350975a80fa629_19)[, 202](#i8f9cad54674b460fb1350975a80fa629_19)[6](#i8f9cad54674b460fb1350975a80fa629_19)[and 202](#i8f9cad54674b460fb1350975a80fa629_19)[5](#i8f9cad54674b460fb1350975a80fa629_19)[(Unaudited)](#i8f9cad54674b460fb1350975a80fa629_19)</u>** | **<u>[5](#i8f9cad54674b460fb1350975a80fa629_19)</u>** |
|  | **<u>[Condensed Consolidated Statements of Equity (Deficit) -](#i8f9cad54674b460fb1350975a80fa629_22)</u>** |  |
|  | &nbsp;&nbsp;**<u>[Three](#i8f9cad54674b460fb1350975a80fa629_19)[months ended](#i8f9cad54674b460fb1350975a80fa629_19)[March 31](#i8f9cad54674b460fb1350975a80fa629_19)[, 202](#i8f9cad54674b460fb1350975a80fa629_19)[6](#i8f9cad54674b460fb1350975a80fa629_19)[and 202](#i8f9cad54674b460fb1350975a80fa629_19)[5](#i8f9cad54674b460fb1350975a80fa629_19)[(Unaudited)](#i8f9cad54674b460fb1350975a80fa629_19)</u>** | **<u>[6](#i8f9cad54674b460fb1350975a80fa629_22)</u>** |
|  | **<u>[Condensed Consolidated Statements of Cash Flows -](#i8f9cad54674b460fb1350975a80fa629_25)</u>** |  |
|  | &nbsp;&nbsp;**<u>[Three](#i8f9cad54674b460fb1350975a80fa629_19)[months ended](#i8f9cad54674b460fb1350975a80fa629_19)[March 31](#i8f9cad54674b460fb1350975a80fa629_19)[, 202](#i8f9cad54674b460fb1350975a80fa629_19)[6](#i8f9cad54674b460fb1350975a80fa629_19)[and 202](#i8f9cad54674b460fb1350975a80fa629_19)[5](#i8f9cad54674b460fb1350975a80fa629_19)[(Unaudited)](#i8f9cad54674b460fb1350975a80fa629_19)</u>** | **<u>[7](#i8f9cad54674b460fb1350975a80fa629_25)</u>** |
|  | **<u>[Notes to Condensed Consolidated Financial Statements (Unaudited)](#i8f9cad54674b460fb1350975a80fa629_28)</u>** | **<u>[8](#i8f9cad54674b460fb1350975a80fa629_28)</u>** |
| **Item 2.** | **<u>[Management's Discussion and Analysis of Financial Condition and Results of Operations](#i8f9cad54674b460fb1350975a80fa629_142)</u>** | **<u>[18](#i8f9cad54674b460fb1350975a80fa629_142)</u>** |
| **Item 3.** | **<u>[Quantitative and Qualitative Disclosures About Market Risk](#i8f9cad54674b460fb1350975a80fa629_178)</u>** | **<u>[31](#i8f9cad54674b460fb1350975a80fa629_178)</u>** |
| **Item 4.** | **<u>[Controls and Procedures](#i8f9cad54674b460fb1350975a80fa629_181)</u>** | **<u>[32](#i8f9cad54674b460fb1350975a80fa629_181)</u>** |
| **PART II.** | **<u>[OTHER INFORMATION](#i8f9cad54674b460fb1350975a80fa629_184)</u>** |  |
| **Item 1.** | **<u>[Legal Proceedings](#i8f9cad54674b460fb1350975a80fa629_187)</u>** | **<u>[32](#i8f9cad54674b460fb1350975a80fa629_187)</u>** |
| **Item 1A.** | **<u>[Risk Factors](#i8f9cad54674b460fb1350975a80fa629_190)</u>** | **<u>[32](#i8f9cad54674b460fb1350975a80fa629_190)</u>** |
| **Item 2.** | **<u>[Unregistered Sales of Equity Securities and Use of Proceeds](#i8f9cad54674b460fb1350975a80fa629_193)</u>** | **<u>[33](#i8f9cad54674b460fb1350975a80fa629_193)</u>** |
| **Item 5.** | **<u>[Other Information](#i8f9cad54674b460fb1350975a80fa629_196)</u>** | **<u>[33](#i8f9cad54674b460fb1350975a80fa629_196)</u>** |
| **Item 6.** | **<u>[Exhibits](#i8f9cad54674b460fb1350975a80fa629_199)</u>** | **<u>[34](#i8f9cad54674b460fb1350975a80fa629_199)</u>** |
| **[Signatures](#i8f9cad54674b460fb1350975a80fa629_202)** |  | **<u>[35](#i8f9cad54674b460fb1350975a80fa629_202)</u>** |

---

------

**PART I. FINANCIAL INFORMATION**

**Item 1. Financial Statements**

**BROOKDALE SENIOR LIVING INC.**

**CONDENSED CONSOLIDATED BALANCE SHEETS**

**(In thousands, except stock amounts)**

---

| | | |
|:---|:---|:---|
| | **March 31,<br>2026** | **December 31,<br>2025** |
| **Assets** | **(Unaudited)** | |
| Current assets |  |  |
| &nbsp;&nbsp;&nbsp;Cash and cash equivalents | $265204 | $279122 |
| &nbsp;&nbsp;&nbsp;Marketable securities | 4939 |  |
| &nbsp;&nbsp;&nbsp;Restricted cash | 31075 | 33227 |
| &nbsp;&nbsp;&nbsp;Accounts receivable, net | 64359 | 67680 |
| &nbsp;&nbsp;&nbsp;Assets held for sale | 75221 | 77206 |
| &nbsp;&nbsp;&nbsp;Prepaid expenses and other current assets, net | 111750 | 96705 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current assets | 552548 | 553940 |
| Property, plant and equipment and leasehold intangibles, net | 4230837 | 4272697 |
| Operating lease right-of-use assets | 1012792 | 1032140 |
| Restricted cash | 37374 | 30659 |
| Goodwill | 27321 | 27321 |
| Other assets, net | 36940 | 35486 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | $5897812 | $5952243 |
| **Liabilities and Equity (Deficit)** |  |  |
| Current liabilities |  |  |
| &nbsp;&nbsp;&nbsp;Current portion of long-term debt | $82616 | $77492 |
| &nbsp;&nbsp;&nbsp;Current portion of financing lease obligations | 1133 | 1211 |
| &nbsp;&nbsp;&nbsp;Current portion of operating lease obligations | 76833 | 74522 |
| &nbsp;&nbsp;&nbsp;Trade accounts payable | 84333 | 75099 |
| &nbsp;&nbsp;&nbsp;Accrued expenses | 223880 | 273394 |
| &nbsp;&nbsp;&nbsp;Refundable fees and deferred revenue | 65774 | 66207 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current liabilities | 534569 | 567925 |
| Long-term debt, less current portion | 4224369 | 4215005 |
| Financing lease obligations, less current portion | 24134 | 24353 |
| Operating lease obligations, less current portion | 1105690 | 1123539 |
| Deferred tax liability | 5332 | 6316 |
| Other liabilities | 58289 | 58482 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 5952383 | 5995620 |
| Preferred stock, $0.01 par value, 50,000,000 shares authorized at March 31, 2026 and December 31, 2025; no shares issued and outstanding |  |  |
| Common stock, $0.01 par value, 400,000,000 shares authorized at March 31, 2026 and December 31, 2025; 249,316,153 and 248,274,011 shares issued and 238,788,628 and 237,746,486 shares outstanding as of March 31, 2026 and December 31, 2025, respectively (including 28,929 unvested restricted shares as of March 31, 2026 and December 31, 2025) | 2493 | 2483 |
| Additional paid-in-capital | 4353777 | 4358077 |
| Treasury stock, at cost; 10,527,525 shares at March 31, 2026 and December 31, 2025 | (102774) | (102774) |
| Accumulated deficit | (4309431) | (4302539) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Brookdale Senior Living Inc. stockholders' equity (deficit) | (55935) | (44753) |
| Noncontrolling interest | 1364 | 1376 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total equity (deficit) | (54571) | (43377) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and equity (deficit) | $5897812 | $5952243 |

---

See accompanying notes to condensed consolidated financial statements.

------

**BROOKDALE SENIOR LIVING INC.**

**CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS**

**(Unaudited, in thousands, except per share data)**

---

| | | |
|:---|:---|:---|
| | **Three Months Ended<br>March 31,** | **Three Months Ended<br>March 31,** |
| | **2026** | **2025** |
| Resident fees | $722456 | $777454 |
| Management fees | 5373 | 2620 |
| Reimbursed costs incurred on behalf of managed communities | 37027 | 33790 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total revenue | 764856 | 813864 |
| Facility operating expense (excluding facility depreciation and amortization of $68,916 and $86,209, respectively) | 511470 | 556987 |
| General and administrative expense (including non-cash stock-based compensation expense of $3,680 and $3,979, respectively) | 45057 | 47874 |
| Facility operating lease expense | 43981 | 52874 |
| Depreciation and amortization | 73463 | 90976 |
| Asset impairment | 6115 | 1787 |
| Loss (gain) on sale of communities, net | (4034) |  |
| Costs incurred on behalf of managed communities | 37027 | 33790 |
| &nbsp;&nbsp;&nbsp;&nbsp;Income (loss) from operations | 51777 | 29576 |
| Interest income | 3113 | 3648 |
| Interest expense: |  |  |
| &nbsp;&nbsp;&nbsp;Debt | (55670) | (54659) |
| &nbsp;&nbsp;&nbsp;Financing lease obligations | (1700) | (5600) |
| &nbsp;&nbsp;&nbsp;Amortization of deferred financing costs | (3483) | (3630) |
| &nbsp;&nbsp;&nbsp;Change in fair value of derivatives | 1301 | (1142) |
| Gain (loss) on debt modification and extinguishment, net | (2786) | (35220) |
| Other non-operating income (loss) | 115 | 1358 |
| Income (loss) before income taxes | (7333) | (65669) |
| Benefit (provision) for income taxes | 429 | 676 |
| Net income (loss) | (6904) | (64993) |
| Net (income) loss attributable to noncontrolling interest | 12 | 14 |
| Net income (loss) attributable to Brookdale Senior Living Inc. common stockholders | $(6892) | $(64979) |
| Basic and diluted net income (loss) per share attributable to Brookdale Senior Living Inc. common stockholders | $(0.03) | $(0.28) |
| Weighted average shares used in computing basic and diluted net income (loss) per share | 238112 | 230678 |

---

See accompanying notes to condensed consolidated financial statements.

------

**BROOKDALE SENIOR LIVING INC.**

**CONDENSED CONSOLIDATED STATEMENTS OF EQUITY (DEFICIT)**

**(Unaudited, in thousands)**

---

| | | |
|:---|:---|:---|
| | **Three Months Ended<br>March 31,** | **Three Months Ended<br>March 31,** |
| | **2026** | **2025** |
| **Total equity (deficit), balance at beginning of period** | $(43377) | $213905 |
| **Common stock:** |  |  |
| &nbsp;&nbsp;Balance at beginning of period | $2483 | $2105 |
| &nbsp;&nbsp;&nbsp;&nbsp;Shares issued for settlement of prepaid stock purchase contracts |  | 296 |
| &nbsp;&nbsp;&nbsp;&nbsp;Shares issued for warrant exercise |  | 26 |
| &nbsp;&nbsp;&nbsp;&nbsp;Restricted stock and restricted stock units, net | 15 | 25 |
| &nbsp;&nbsp;&nbsp;&nbsp;Shares withheld for employee taxes | (5) | (7) |
| &nbsp;&nbsp;Balance at end of period | $2493 | $2445 |
| **Additional paid-in-capital:** |  |  |
| &nbsp;&nbsp;Balance at beginning of period | $4358077 | $4352991 |
| &nbsp;&nbsp;&nbsp;&nbsp;Compensation expense related to restricted stock grants | 3680 | 3979 |
| &nbsp;&nbsp;&nbsp;&nbsp;Shares issued for settlement of prepaid stock purchase contracts |  | (296) |
| &nbsp;&nbsp;&nbsp;&nbsp;Shares issued for warrant exercise |  | (26) |
| &nbsp;&nbsp;&nbsp;&nbsp;Restricted stock and restricted stock units, net | (15) | (25) |
| &nbsp;&nbsp;&nbsp;&nbsp;Shares withheld for employee taxes | (7965) | (4749) |
| &nbsp;&nbsp;Balance at end of period | $4353777 | $4351874 |
| **Treasury stock:** |  |  |
| &nbsp;&nbsp;Balance at beginning and end of period | $(102774) | $(102774) |
| **Accumulated deficit:** |  |  |
| &nbsp;&nbsp;Balance at beginning of period | $(4302539) | $(4039847) |
| &nbsp;&nbsp;&nbsp;&nbsp;Net income (loss) attributable to Brookdale Senior Living Inc. common stockholders | (6892) | (64979) |
| &nbsp;&nbsp;Balance at end of period | $(4309431) | $(4104826) |
| **Noncontrolling interest:** |  |  |
| &nbsp;&nbsp;Balance at beginning of period | $1376 | $1430 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net income (loss) attributable to noncontrolling interest | (12) | (14) |
| &nbsp;&nbsp;Balance at end of period | $1364 | $1416 |
| **Total equity (deficit), balance at end of period** | $(54571) | $148135 |
| **<u>Common stock share activity</u>** |  |  |
| &nbsp;&nbsp;&nbsp;**Outstanding shares of common stock:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Balance at beginning of period | 237746 | 200020 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares issued for settlement of prepaid stock purchase contracts |  | 29636 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares issued for warrant exercise |  | 2644 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Restricted stock and restricted stock units, net | 1568 | 2515 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares withheld for employee taxes | (525) | (812) |
| &nbsp;&nbsp;&nbsp;&nbsp;Balance at end of period | 238789 | 234003 |

---

See accompanying notes to condensed consolidated financial statements.

------

**BROOKDALE SENIOR LIVING INC.**

**CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS**

**(Unaudited, in thousands)**

---

| | | |
|:---|:---|:---|
| | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
| | **2026** | **2025** |
| **Cash Flows from Operating Activities** |  |  |
| Net income (loss) | $(6904) | $(64993) |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: |  |  |
| &nbsp;&nbsp;&nbsp;Loss (gain) on debt modification and extinguishment, net | 2786 | 35220 |
| &nbsp;&nbsp;&nbsp;Depreciation and amortization, net | 76946 | 94606 |
| &nbsp;&nbsp;&nbsp;Asset impairment | 6115 | 1787 |
| &nbsp;&nbsp;&nbsp;Deferred income tax (benefit) provision | (985) | (1157) |
| &nbsp;&nbsp;&nbsp;Operating lease expense adjustment | (720) | (3853) |
| &nbsp;&nbsp;&nbsp;Change in fair value of derivatives | (1301) | 1142 |
| &nbsp;&nbsp;&nbsp;Loss (gain) on sale of assets, net | (4034) |  |
| &nbsp;&nbsp;&nbsp;Non-cash stock-based compensation expense | 3680 | 3979 |
| &nbsp;&nbsp;&nbsp;Property and casualty insurance income | (140) | (1415) |
| Changes in operating assets and liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;Accounts receivable, net | 3321 | (6002) |
| &nbsp;&nbsp;&nbsp;Prepaid expenses and other assets, net | 5267 | (5104) |
| &nbsp;&nbsp;&nbsp;Prepaid insurance premiums financed with notes payable | (20199) | (22392) |
| &nbsp;&nbsp;&nbsp;Trade accounts payable and accrued expenses | (47287) | (15148) |
| &nbsp;&nbsp;&nbsp;Refundable fees and deferred revenue | (433) | 4719 |
| &nbsp;&nbsp;&nbsp;Operating lease assets and liabilities for lessor capital expenditure reimbursements | 4775 | 2013 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by operating activities | 20887 | 23402 |
| **Cash Flows from Investing Activities** |  |  |
| &nbsp;&nbsp;&nbsp;Purchase of marketable securities | (4939) |  |
| &nbsp;&nbsp;&nbsp;Sale and maturities of marketable securities |  | 20000 |
| &nbsp;&nbsp;&nbsp;Capital expenditures, net of related payables | (46476) | (41817) |
| &nbsp;&nbsp;&nbsp;Acquisition of assets |  | (311028) |
| &nbsp;&nbsp;&nbsp;Proceeds from sale of assets, net | 22059 |  |
| &nbsp;&nbsp;&nbsp;Property and casualty insurance proceeds | 140 | 1415 |
| &nbsp;&nbsp;&nbsp;Change in lease acquisition deposits, net |  | 5000 |
| &nbsp;&nbsp;&nbsp;Other | (518) | (325) |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by (used in) investing activities | (29734) | (326755) |
| **Cash Flows from Financing Activities** |  |  |
| &nbsp;&nbsp;&nbsp;Proceeds from debt | 231676 | 320673 |
| &nbsp;&nbsp;&nbsp;Repayment of debt and financing lease obligations | (217924) | (70338) |
| &nbsp;&nbsp;&nbsp;Payment of financing costs, net of related payables | (6648) | (5909) |
| &nbsp;&nbsp;&nbsp;Payments of employee taxes for withheld shares | (7612) | (4757) |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by (used in) financing activities | (508) | 239669 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net increase (decrease) in cash, cash equivalents, and restricted cash | (9355) | (63684) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash, cash equivalents, and restricted cash at beginning of period | 343008 | 379840 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash, cash equivalents, and restricted cash at end of period | $333653 | $316156 |

---

See accompanying notes to condensed consolidated financial statements.

------

**BROOKDALE SENIOR LIVING INC.**

**NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS**

**(Unaudited)**

**1. Description of Business**

Brookdale Senior Living Inc. together with its consolidated subsidiaries ("Brookdale" or the "Company") is an operator of 568 senior living communities throughout the United States. The Company is committed to its mission of enriching the lives of the people it serves with compassion, respect, excellence, and integrity. The Company operates and manages independent living, assisted living, memory care, and continuing care retirement communities ("CCRCs"). The Company's senior living communities and its comprehensive network help to provide seniors with care, connection, and services in an environment that feels like home. As of March 31, 2026, the Company owned 363 communities, leased 176 communities, and managed 29 communities.

**2. Summary of Significant Accounting Policies**

***Basis of Presentation***

The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States ("GAAP") and pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC") for quarterly reports on Form 10-Q. In the opinion of management, these financial statements include all adjustments, which are of a normal and recurring nature, necessary to present fairly the financial position, results of operations, and cash flows of the Company for all periods presented. Certain information and footnote disclosures included in annual financial statements have been condensed or omitted. The Company believes that the disclosures included are adequate and provide a fair presentation of interim period results. Interim financial statements are not necessarily indicative of the financial position or operating results for an entire year. These interim financial statements should be read in conjunction with the audited financial statements and the notes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2025 filed with the SEC on February 19, 2026.

***Principles of Consolidation***

The condensed consolidated financial statements include the accounts of Brookdale and its consolidated subsidiaries. The ownership interest of consolidated entities not wholly-owned by the Company are presented as noncontrolling interests in the accompanying unaudited condensed consolidated financial statements. Intercompany balances and transactions have been eliminated in consolidation, and net income (loss) is reduced by the portion of net income (loss) attributable to noncontrolling interests.

***Use of Estimates***

The preparation of the condensed consolidated financial statements and related disclosures in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Estimates are used for, but not limited to, revenue, asset impairments, self-insurance reserves, performance-based compensation, allowance for credit losses, depreciation and amortization, leasing transactions, income taxes, and other contingencies. Although these estimates are based on management's best knowledge of current events and actions that the Company may undertake in the future, actual results may differ from the original estimates.

***Reclassifications***

Certain prior period amounts have been reclassified to conform to the current financial statement presentation, with no effect on the Company's condensed consolidated financial position or results of operations.

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**3. Revenue**

Resident fee revenue by payor source is as follows.

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| | | |
|:---|:---|:---|
| | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
| | **2026** | **2025** |
| Private pay | 94.4% | 93.9% |
| Government reimbursement | 4.4% | 4.8% |
| Other third-party payor programs | 1.2% | 1.3% |

---

Refer to Note 13 for disaggregation of revenue by reportable segment.

The payment terms and conditions within the Company's revenue-generating contracts vary by contract type and payor source, although terms generally include payment to be made within 30 days. Resident fee revenue for recurring and routine monthly services is generally billed monthly in advance under the Company's independent living, assisted living, and memory care residency agreements. Resident fee revenue for standalone or certain healthcare services is generally billed monthly in arrears. Additionally, certain of the Company's revenue-generating contracts include non-refundable fees that are generally billed and collected in advance or upon move-in of a resident under the Company's independent living, assisted living, and memory care residency agreements. Amounts of revenue that are collected from residents in advance are recognized as deferred revenue until the performance obligations are satisfied.

The Company had total deferred revenue (included within refundable fees and deferred revenue within the condensed consolidated balance sheets) of $51.7 million and $51.3 million, including $29.8 million and $29.1 million of monthly resident fees billed and received in advance, as of March 31, 2026 and December 31, 2025, respectively. For the three months ended March 31, 2026 and 2025, the Company recognized $39.4 million and $40.7 million, respectively, of revenue that was included in the deferred revenue balance as of January 1, 2026 and 2025, respectively.

**4. Property, Plant and Equipment and Leasehold Intangibles, Net**

As of March 31, 2026 and December 31, 2025, net property, plant and equipment and leasehold intangibles consisted of the following.

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| | | |
|:---|:---|:---|
| *(in thousands)* | **March 31, 2026** | **December 31, 2025** |
| Land | $538001 | $544824 |
| Buildings and improvements | 5793014 | 5799937 |
| Furniture and equipment | 1269993 | 1259410 |
| Resident in-place lease intangibles | 255927 | 260389 |
| Construction in progress | 36277 | 35788 |
| Assets under financing leases and leasehold improvements | 591997 | 586496 |
| &nbsp;&nbsp;&nbsp;Property, plant and equipment and leasehold intangibles | 8485209 | 8486844 |
| Accumulated depreciation and amortization | (4254372) | (4214147) |
| &nbsp;&nbsp;&nbsp;Property, plant and equipment and leasehold intangibles, net | $4230837 | $4272697 |

---

Long-lived assets with definite useful lives are depreciated or amortized on a straight-line basis over their estimated useful lives (or, in certain cases, the shorter of their estimated useful lives or the lease term) and are tested for impairment whenever indicators of impairment arise. The Company recognized depreciation and amortization expense on its property, plant and equipment and leasehold intangibles of $73.5 million and $91.0 million for the three months ended March 31, 2026 and 2025, respectively.

The Company recognized $6.1 million and $1.8 million for the three months ended March 31, 2026 and 2025, respectively, of non-cash impairment charges in its operating results for its property, plant and equipment and leasehold intangibles assets.

As of March 31, 2026, eight communities in the Assisted Living and Memory Care segment and one community in the CCRCs segment were classified as held for sale, resulting in $75.2 million of net property, plant and equipment and leasehold

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intangibles assets being recognized as assets held for sale within the condensed consolidated balance sheet. Subsequent to March 31, 2026, the Company completed the sale of three owned communities for cash proceeds of $88 million, net of transaction costs. The closings of the sales of the additional communities are subject to the satisfaction of various closing conditions, including (where applicable) the receipt of regulatory approvals. There can be no assurance that the additional transactions will close or, if they do, when the actual closings will occur.

**5. Debt**

Long-term debt consists of the following.

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| | | |
|:---|:---|:---|
| *(in thousands)* | **March 31, 2026** | **December 31, 2025** |
| Fixed-rate mortgage notes payable due 2027 through 2036; weighted average interest rate of 4.91% and 4.88% as of March 31, 2026 and December 31, 2025, respectively | $2875940 | $2897275 |
| Variable-rate mortgage notes payable due 2027 through 2031; weighted average interest rate of 6.07% and 6.18% as of March 31, 2026 and December 31, 2025, respectively | 1064116 | 1048308 |
| Convertible notes payable due October 2026; interest rate of 2.00% as of both March 31, 2026 and December 31, 2025 | 23297 | 23297 |
| Convertible notes payable due October 2029; interest rate of 3.50% as of both March 31, 2026 and December 31, 2025 | 369445 | 369445 |
| Notes payable for insurance premium financing due 2026; interest rate of 5.40% as of March 31, 2026 | 19575 |  |
| Deferred financing costs, net | (45388) | (45828) |
| &nbsp;&nbsp;&nbsp;Total long-term debt | 4306985 | 4292497 |
| Current portion | 82616 | 77492 |
| &nbsp;&nbsp;&nbsp;Total long-term debt, less current portion | $4224369 | $4215005 |

---

As of March 31, 2026, the current portion of long-term debt within the Company's condensed consolidated financial statements includes $6.2 million of mortgage notes payable secured by assets held for sale.

As of March 31, 2026, 89.3%, or $3.9 billion, of the Company's total debt obligations represented non-recourse property-level mortgage financings.

As of March 31, 2026, $1.4 million of letters of credit and no cash borrowings were outstanding under the Company's $100.0 million secured credit facility. The Company also had separate letter of credit facilities providing up to $68.0 million of letters of credit as of March 31, 2026 under which $59.2 million had been issued as of that date.

On March 31, 2026, the Company obtained an aggregate $184.9 million of debt on 7 communities and repaid $190.6 million of outstanding mortgage debt secured by 11 communities previously scheduled to mature in March 2027. The principal amounts of the new loans are secured by non-recourse first mortgages, bear interest at a fixed rate of 5.38%, are interest only for the first two years, and mature in April 2033.

**Financial Covenants** 

Certain of the Company's debt documents contain restrictions and financial covenants, such as those requiring the Company to maintain prescribed minimum liquidity and net worth levels and debt service ratios, and requiring the Company not to exceed prescribed leverage ratios, in each case on a consolidated, portfolio-wide, multi-community, single-community, and/or entity basis. In addition, the Company's debt documents generally contain non-financial covenants, such as those requiring the Company to comply with Medicare or Medicaid provider requirements and maintain insurance coverage.

The Company's failure to comply with applicable covenants, subject to cure provisions in certain instances, could constitute an event of default under the applicable debt documents. Many of the Company's debt documents contain cross-default provisions so that a default under one of these instruments could cause a default under other debt and lease documents (including documents with other lenders and lessors). Furthermore, the Company's mortgage debt is secured by its communities and, in certain cases, a guaranty by the Company and/or one or more of its subsidiaries.

As of March 31, 2026, the Company is in compliance with the financial covenants of its debt agreements.

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**6. Leases**

As of March 31, 2026, the Company operated 176 communities under long-term leases (167 operating leases and 9 financing leases). The substantial majority of the Company's lease arrangements are structured as master leases. Under a master lease, numerous communities are leased through an indivisible lease. In certain cases, the Company guarantees the performance and lease payment obligations of its subsidiary lessees under the master leases. An event of default related to an individual property or limited number of properties within a master lease portfolio may result in a default on the entire master lease portfolio.

The leases relating to substantially all of the Company's leased communities are fixed-rate leases with annual escalators that are fixed. The Company is responsible for all operating costs, including repairs and maintenance, property taxes, and insurance. The leases generally provide for renewal or extension options, or in certain cases, purchase options.

The community leases contain other customary terms, which may include assignment and change of control restrictions, maintenance and capital expenditure obligations, termination provisions and financial covenants, such as those requiring the Company to maintain prescribed minimum liquidity and net worth levels and lease coverage ratios, in each case on a consolidated, portfolio-wide, multi-community, single-community and/or entity basis. In addition, the Company's lease documents generally contain non-financial covenants, such as those requiring the Company to comply with Medicare or Medicaid provider requirements and maintain insurance coverage.

The Company's failure to comply with applicable covenants could constitute an event of default under the applicable lease documents. Many of the Company's lease documents contain cross-default provisions so that a default under one of these instruments could cause a default under other lease and debt documents (including documents with other lessors and lenders). Certain leases contain cure provisions, which generally allow the Company to post an additional lease security deposit if the required covenant is not met. Furthermore, the Company's leases are secured by its communities and, in certain cases, a guaranty by the Company and/or one or more of its subsidiaries.

As of March 31, 2026, the Company is in compliance with the financial covenants of its long-term lease agreements.

**7. Litigation**

The Company has been and is currently involved in litigation and claims incidental to the conduct of its business, which it believes are generally comparable to other companies in the senior living and healthcare industries. In addition, the Company has been and currently is involved in putative class action litigation regarding staffing at the Company's communities and compliance with consumer protection laws and the Americans with Disabilities Act (and similar state laws). Certain claims and lawsuits allege large damage amounts, seek injunctive relief, and may require (and have required) significant costs to defend and resolve. The Company took a charge for this litigation of $7.0 million for the year ended December 31, 2024, representing its estimate of the Company's ultimate cost to resolve such litigation, net of estimated probable insurance recoveries. The final outcome of the pending class action litigation is dependent on many factors that are difficult to predict. Accordingly the Company's ultimate cost related to these matters may be materially different than the amount of the Company's current estimate and accruals. The Company continues to vigorously defend against the pending putative class action litigation.

The Company maintains general liability, professional liability, excess liability, and other insurance policies in amounts and with coverage and deductibles the Company believes are appropriate, based on the nature and risks of its business, historical experience, availability, and industry standards. The Company's current policies provide for deductibles for each claim and contain various exclusions from coverage. The Company uses its wholly-owned captive insurance company for the purpose of insuring certain portions of its risk retention under its general and professional liability insurance programs. Accordingly, the Company is, in effect, self-insured for claims that are less than the deductible amounts, for claims that exceed the funding level of the Company's wholly-owned captive insurance company, and for claims or portions of claims that are not covered by such policies and/or exceed the policy limits.

The senior living and healthcare industries are continuously subject to scrutiny by governmental regulators, which could result in reviews, audits, investigations, enforcement actions, or litigation related to regulatory compliance matters. In addition, the Company is subject to various government reviews, audits, and investigations to verify compliance with Medicare and Medicaid programs and other applicable laws and regulations. The Centers for Medicare & Medicaid Services ("CMS") has engaged third-party firms to review claims data to evaluate appropriateness of billings. In addition to identifying overpayments, audit contractors can refer suspected violations to government authorities. In addition, states' Attorneys General vigorously enforce consumer protection laws as those laws relate to the senior living industry. An adverse outcome of government scrutiny may result in citations, sanctions, other criminal or civil fines and penalties, the refund of overpayments, payment suspensions,

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termination of participation in Medicare and Medicaid programs, and damage to the Company's business reputation. The Company's costs to respond to and defend any such audits, reviews, and investigations may be significant.

**8. Stock-Based Compensation**

Grants of restricted stock units and stock awards under the Company's 2024 Omnibus Incentive Plan were as follows.

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| | | | |
|:---|:---|:---|:---|
| *(in thousands, except for weighted average amounts)* | **Restricted Stock Unit and Stock Award Grants** | **Weighted Average Grant Date Fair Value** | **Total Grant Date Fair Value** |
| Three months ended March 31, 2026 | 1529 | $16.30 | $24934 |

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**9. Earnings Per Share**

Potentially dilutive common stock equivalents for the Company include convertible senior notes, unvested restricted stock, and restricted stock units. Prior to June 30, 2025, the potentially dilutive common stock equivalents for the Company also included warrants and prepaid stock purchase contracts.

As of March 31, 2026, $23.3 million in aggregate principal amount of the Company's 2.00% convertible senior notes due 2026 (the "2026 Notes") remain outstanding and the maximum number of shares issuable upon settlement of the 2026 Notes is 3.9 million (after giving effect to 1.0 million additional shares that would be issuable upon conversion in connection with the occurrence of certain corporate or other events). As of March 31, 2026, $369.4 million in aggregate principal amount of the Company's 3.50% convertible senior notes due 2029 (the "2029 Notes") remain outstanding and the maximum number of shares issuable upon settlement of the 2029 Notes is 55.0 million (after giving effect to 13.9 million additional shares that would be issuable upon conversion in connection with the occurrence of certain corporate or other events).

Basic earnings per share ("EPS") is calculated by dividing net income (loss) by the weighted average number of shares of common stock outstanding, after giving effect to the weighted average minimum number of shares issuable upon settlement of the Company's previously outstanding prepaid stock purchase contracts. The following table summarizes the computation of basic weighted average shares presented in the condensed consolidated statements of operations.

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| | | |
|:---|:---|:---|
| | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
| *(in thousands)* | **2026** | **2025** |
| Weighted average common shares outstanding | 238112 | 201042 |
| Weighted average minimum shares issuable under purchase contracts |  | 29636 |
| Weighted average shares outstanding - basic | 238112 | 230678 |

---

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Diluted EPS includes the components of basic EPS and also gives effect to dilutive common stock equivalents. Diluted EPS reflects the potential dilution that could occur if securities or other instruments that are convertible into common stock were exercised or could result in the issuance of common stock. For the purposes of computing diluted EPS, weighted average shares outstanding do not include potentially dilutive securities that are anti-dilutive under the treasury stock method or if-converted method, and performance-based equity awards are included based on the attainment of the applicable performance metrics as of the end of the reporting period. The Company has the following potentially outstanding shares of common stock, which were excluded from the computation of diluted net income (loss) per share attributable to common stockholders in both periods as a result of the net loss.

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| | | |
|:---|:---|:---|
| | **As of March 31,** | **As of March 31,** |
| *(in millions)* | **2026** | **2025** |
| 2026 Notes at initial conversion rate | 2.9 | 2.9 |
| Incremental shares issuable upon certain events for 2026 Notes | 1.0 | 1.0 |
| 2029 Notes at initial conversion rate | 41.1 | 41.1 |
| Incremental shares issuable upon certain events for 2029 Notes | 13.9 | 13.9 |
| Warrants |  | 5.6 |
| Restricted stock and restricted stock units | 4.0 | 6.2 |
| &nbsp;&nbsp;Total | 62.9 | 70.7 |

---

**10. Income Taxes**

The difference between the Company's effective tax rate for the three months ended March 31, 2026 and 2025 was primarily due to an increase in tax expense from the change in valuation allowance relative to the tax benefit recorded on operational losses during the three months ended March 31, 2026.

The Company recorded an aggregate deferred federal, state, and local tax benefit of $8.1 million for the three months ended March 31, 2026, which was partially offset by an increase to the valuation allowance of $7.1 million. The Company recorded an aggregate deferred federal, state, and local tax benefit of $15.9 million for the three months ended March 31, 2025, which was partially offset by an increase to the valuation allowance of $14.7 million.

The Company evaluates its deferred tax assets each quarter to determine if a valuation allowance is required based on whether it is more likely than not that some portion of the deferred tax asset would not be realized. The Company's valuation allowance as of March 31, 2026 and December 31, 2025 was $585.3 million and $578.2 million, respectively.

The increase in the valuation allowance for the three months ended March 31, 2026 and 2025 is the result of current operating losses during the three months ended March 31, 2026 and 2025 and by the anticipated reversal of future tax liabilities offset by future tax deductions.

The Company recorded interest charges related to its tax contingency reserve for cash tax positions for the three months ended March 31, 2026 and 2025 which are included in income tax expense or benefit for the period. As of March 31, 2026, tax returns for years 2021 through 2024 are subject to future examination by tax authorities. In addition, the net operating losses from prior years are subject to adjustment under examination.

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**11. Supplemental Disclosure of Cash Flow Information**

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| | | |
|:---|:---|:---|
| | **Three Months Ended<br>March 31,** | **Three Months Ended<br>March 31,** |
| *(in thousands)* | **2026** | **2025** |
| **Supplemental Disclosure of Cash Flow Information:** |  |  |
| &nbsp;&nbsp;&nbsp;Interest paid | $52227 | $53173 |
| &nbsp;&nbsp;&nbsp;Income taxes paid, net of (refunds) | $356 | $7 |
| &nbsp;&nbsp;&nbsp;Capital expenditures, net of related payables: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital expenditures - non-development, net | $48380 | $41127 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital expenditures - development, net |  | 9 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital expenditures - non-development - reimbursable from lessor | 4775 | 2013 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Trade accounts payable | (6679) | (1332) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash paid | $46476 | $41817 |
| &nbsp;&nbsp;&nbsp;Acquisition of assets: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Property, plant and equipment and leasehold intangibles, net | $— | $1028 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financing lease obligations |  | 277208 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loss on debt modification and extinguishment, net |  | 32792 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash paid | $— | $311028 |
| &nbsp;&nbsp;&nbsp;Proceeds from sale of assets, net: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prepaid expenses and other assets, net | $(941) | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Property, plant and equipment and leasehold intangibles, net | (17422) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other liabilities | 338 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loss (gain) on sale of communities, net | (4034) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash received | $(22059) | $— |

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Restricted cash consists principally of escrow deposits for interest rate caps, real estate taxes, property insurance, capital expenditures, and debt service reserves required by certain lenders under mortgage debt agreements, deposits as security for self-insured retention risk under general and professional liability programs, property insurance programs, and workers' compensation programs, and regulatory reserves for certain CCRCs. The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the condensed consolidated balance sheets that sums to the total of the same such amounts shown in the condensed consolidated statements of cash flows.

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| | | |
|:---|:---|:---|
| *(in thousands)* | **March 31, 2026** | **December 31, 2025** |
| Reconciliation of cash, cash equivalents, and restricted cash: |  |  |
| &nbsp;&nbsp;&nbsp;Cash and cash equivalents | $265204 | $279122 |
| &nbsp;&nbsp;&nbsp;Restricted cash - current | 31075 | 33227 |
| &nbsp;&nbsp;&nbsp;Restricted cash - non-current | 37374 | 30659 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total cash, cash equivalents, and restricted cash | $333653 | $343008 |

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**12. Fair Value Measurements**

*Long-term debt*

The Company estimates the fair value of its debt primarily using a discounted cash flow analysis based upon the Company's current borrowing rate for debt with similar maturities and collateral securing the indebtedness. The Company estimates the fair value of its convertible senior notes based on valuations provided by third-party pricing services. The Company had outstanding mortgage notes payable with a carrying amount of approximately $3.9 billion as of both March 31, 2026 and December 31, 2025. Fair value of the mortgage notes payable approximates the carrying amount as of both March 31, 2026 and December 31, 2025. The Company's fair value of the mortgage notes payable disclosure is classified within Level 2 of the valuation hierarchy.

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The carrying amount for the $23.3 million principal amount of outstanding 2026 Notes was $23.2 million, net of deferred financing costs, as of both March 31, 2026 and December 31, 2025. The estimated fair value of the 2026 Notes was approximately $40.0 million and $32.0 million as of March 31, 2026 and December 31, 2025, respectively (Level 2).

The carrying amount for the $369.4 million principal amount of outstanding 2029 Notes was $359.0 million and $358.3 million, net of deferred financing costs, as of March 31, 2026 and December 31, 2025, respectively. The estimated fair value of the 2029 Notes was approximately $611.0 million and $516.0 million as of March 31, 2026 and December 31, 2025, respectively (Level 2).

**13. Segment Information**

The Company has three reportable segments: Independent Living; Assisted Living and Memory Care; and CCRCs. Operating segments are defined as components of an enterprise that engage in business activities from which it may earn revenues and incur expenses; for which separate financial information is available; and whose operating results are regularly reviewed by the Chief Operating Decision Maker ("CODM") to assess the performance of the individual segment and make decisions about resources to be allocated to the segment.

*Independent Living*. The Company's Independent Living segment includes owned or leased communities that are primarily designed for middle to upper income seniors who desire to live in a residential setting that feels like home, without the efforts of ownership. The majority of the Company's independent living communities consist of both independent and assisted living units in a single community, which allows residents to age-in-place by providing them with a broad continuum of senior independent and assisted living services to accommodate their changing needs.

*Assisted Living and Memory Care.* The Company's Assisted Living and Memory Care segment includes owned or leased communities that offer housing and 24-hour assistance with activities of daily living for the Company's residents. The Company's assisted living and memory care communities include both freestanding, multi-story communities, as well as smaller, freestanding, single story communities. The Company also provides memory care services at freestanding memory care communities that are specially designed for residents with Alzheimer's disease and other dementias.

*CCRCs.* The Company's CCRCs segment includes large owned or leased communities that offer a variety of living arrangements and services to accommodate a broad spectrum of physical ability and healthcare needs. Most of the Company's CCRCs have independent living, assisted living, memory care, and skilled nursing available on one campus.

*All Other.* All Other includes communities operated by the Company pursuant to management agreements. Under the management agreements for these communities, the Company receives management fees as well as reimbursement of expenses it incurs on behalf of the owners.

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The following tables set forth selected segment financial data.

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| | | |
|:---|:---|:---|
| | **Three Months Ended<br>March 31,** | **Three Months Ended<br>March 31,** |
| *(in thousands)* | **2026** | **2025** |
| Revenue:<sup>(1)</sup> |  |  |
| &nbsp;&nbsp;&nbsp;Independent Living | $120330 | $157117 |
| &nbsp;&nbsp;&nbsp;Assisted Living and Memory Care | 523188 | 533379 |
| &nbsp;&nbsp;&nbsp;CCRCs | 78938 | 86958 |
| &nbsp;&nbsp;&nbsp;All Other | 42400 | 36410 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total revenue | $764856 | $813864 |
| Community labor expenses: |  |  |
| &nbsp;&nbsp;&nbsp;Independent Living | $43391 | $58284 |
| &nbsp;&nbsp;&nbsp;Assisted Living and Memory Care | 243656 | 252710 |
| &nbsp;&nbsp;&nbsp;CCRCs | 40460 | 46293 |
| Other facility operating expenses:<sup>(2)</sup> |  |  |
| &nbsp;&nbsp;&nbsp;Independent Living | 33727 | 44601 |
| &nbsp;&nbsp;&nbsp;Assisted Living and Memory Care | 129216 | 131116 |
| &nbsp;&nbsp;&nbsp;CCRCs | 21020 | 23983 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total facility operating expenses | $511470 | $556987 |
| Segment operating income:<sup>(3)</sup> |  |  |
| &nbsp;&nbsp;&nbsp;Independent Living | $43212 | $54232 |
| &nbsp;&nbsp;&nbsp;Assisted Living and Memory Care | 150316 | 149553 |
| &nbsp;&nbsp;&nbsp;CCRCs | 17458 | 16682 |
| &nbsp;&nbsp;&nbsp;All Other | 5373 | 2620 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total segment operating income | 216359 | 223087 |
| General and administrative expense (including non-cash stock-based compensation expense) | 45057 | 47874 |
| Facility operating lease expense | 43981 | 52874 |
| Depreciation and amortization | 73463 | 90976 |
| Asset impairment | 6115 | 1787 |
| Loss (gain) on sale of communities, net | (4034) |  |
| Income (loss) from operations | $51777 | $29576 |

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| | | |
|:---|:---|:---|
| Capital expenditures: |  |  |
| &nbsp;&nbsp;&nbsp;Independent Living | $12419 | $10270 |
| &nbsp;&nbsp;&nbsp;Assisted Living and Memory Care | 31696 | 26526 |
| &nbsp;&nbsp;&nbsp;CCRCs | 5115 | 3462 |
| &nbsp;&nbsp;&nbsp;Corporate and All Other | 3925 | 2891 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total capital expenditures | $53155 | $43149 |

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(1)All revenue is earned from external third parties in the United States.

(2)Other facility operating expenses is primarily comprised of costs for food, utilities, maintenance, real estate taxes, insurance, marketing, paid referral fees, and other costs of operating the Company's communities.

(3)Segment operating income is defined as segment revenues less segment facility operating expenses (excluding facility depreciation and amortization) and costs incurred on behalf of managed communities.

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The Company does not report total assets by segment because this is not a metric used by the CODM to allocate resources or evaluate segment performance. The Company's total carrying amount of goodwill is included on the Independent Living segment and was $27.3 million as of both March 31, 2026 and December 31, 2025.

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**Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations**

**SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995**

Certain statements in this Quarterly Report on Form 10-Q may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to various risks and uncertainties and include all statements that are not historical statements of fact and those regarding our intent, belief, or expectations. Forward-looking statements are generally identifiable by use of forward-looking terminology such as "may," "will," "should," "could," "would," "potential," "intend," "expect," "endeavor," "seek," "anticipate," "estimate," "believe," "project," "predict," "continue," "plan," "target," "annualized," or other similar words or expressions, and include statements regarding our expected financial and operational results. These forward-looking statements are based on certain assumptions and expectations, and our ability to predict results or the actual effect of future plans or strategies is inherently uncertain. Although we believe that expectations reflected in any forward-looking statements are based on reasonable assumptions, we can give no assurance that our assumptions or expectations will be attained and actual results and performance could differ materially from those projected. Factors which could have a material adverse effect on our operations and future prospects or which could cause events or circumstances to differ from the forward-looking statements include, but are not limited to, events which adversely affect the ability of seniors to afford resident fees, including downturns in the economy, housing market, consumer confidence, or the equity markets and unemployment among resident family members; the effects of senior housing construction and development, lower industry occupancy, and increased competition; conditions of housing markets, regulatory changes, acts of nature, and the effects of climate change in geographic areas where we are concentrated; terminations of our resident agreements and vacancies in the living spaces we lease; changes in reimbursement rates, methods, or timing under governmental reimbursement programs including the Medicare and Medicaid programs; failure to maintain the security and functionality of our information systems, to prevent a cybersecurity attack or breach, or to comply with applicable privacy and consumer protection laws, including HIPAA; our ability to complete our capital expenditures in accordance with our plans; our ability to identify and pursue development, investment, and acquisition opportunities and our ability to successfully integrate acquisitions; competition for the acquisition of assets; our ability to complete pending or expected disposition, acquisition, or other transactions on agreed upon terms or at all, including in respect of the satisfaction of closing conditions, the risk that regulatory approvals are not obtained or are subject to unanticipated conditions, and uncertainties as to the timing of closing, and our ability to identify and pursue any such opportunities in the future; risks related to the implementation of our strategy, including initiatives undertaken to execute on our strategic priorities and their effect on our results; limits on our ability to use net operating loss carryovers to reduce future tax payments; delays in obtaining regulatory approvals; the risks associated with tariffs and the uncertain duration of trade conflicts; disruptions in the financial markets or decreases in the appraised values or performance of our communities that affect our ability to obtain financing or extend or refinance debt as it matures and our financing costs; our ability to generate sufficient cash flow to cover required interest, principal, and long-term lease payments and to fund our planned capital projects; the effect of any non-compliance with any of our debt or lease agreements (including the financial or other covenants contained therein), including the risk of lenders or lessors declaring a cross default in the event of our non-compliance with any such agreements and the risk of loss of our property securing leases and indebtedness due to any resulting lease terminations and foreclosure actions; the inability to renew, restructure, or extend leases, or exercise purchase options at or prior to the end of any existing lease term; the effect of our indebtedness and long-term leases on our liquidity and our ability to operate our business; increases in market interest rates that increase the costs of our debt obligations; our ability to obtain additional capital on terms acceptable to us; departures of key officers and potential disruption caused by changes in management; increased competition for, or a shortage of, associates, wage pressures resulting from increased competition, low unemployment levels, minimum wage increases and changes in overtime laws, and union activity; negative publicity with respect to any lawsuits, claims, or other legal or regulatory proceedings; costs to respond to, and adverse determinations resulting from, government inquiries, reviews, audits, and investigations; the cost and difficulty of complying with increasing and evolving regulation, including new disclosure obligations; changes in, or our failure to comply with, employment-related laws and regulations; environmental contamination at any of our communities; failure to comply with existing environmental laws; an adverse determination or resolution of complaints filed against us, including putative class action complaints; the risks associated with current global economic conditions and general economic factors on us or our business partners such as inflation, commodity costs, fuel and other energy costs, competition in the labor market, costs of salaries, wages, benefits, and insurance, interest rates, tax rates, tariffs, and geopolitical tensions or conflicts, the impact of seasonal contagious illness or other contagious disease in the markets in which we operate; actions of activist stockholders; as well as other risks detailed from time to time in our filings with the Securities and Exchange Commission ("SEC"), including those set forth under "Item 1A. Risk Factors" contained in our Annual Report on Form 10-K for the year ended December 31, 2025 and "Part II, Item 1A. Risk Factors" of this Quarterly Report on Form 10-Q. When considering forward-looking statements, you should keep in mind the risk factors and other cautionary statements in such SEC filings. Readers are cautioned not to place undue reliance on any of these forward-looking statements, which reflect management's views as of the date of this Quarterly Report on Form 10-Q. We cannot guarantee future results, levels of activity, performance or achievements, and, except as required by law, we expressly disclaim any obligation to release publicly any updates or revisions to any forward-

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looking statements contained in this Quarterly Report on Form 10-Q to reflect any change in our expectations with regard thereto or change in events, conditions, or circumstances on which any statement is based.

Unless otherwise specified, references to "Brookdale," "we," "us," "our," or "the Company" in this Quarterly Report on Form 10-Q mean Brookdale Senior Living Inc. together with its consolidated subsidiaries.

**<u>Overview</u>**

We are the nation's premier operator of senior living communities, operating and managing 568 communities in 41 states as of March 31, 2026, with the ability to serve approximately 51,000 residents. We offer our residents access to a broad continuum of services across the most attractive sectors of the senior living industry. We operate and manage independent living, assisted living, memory care, and continuing care retirement communities ("CCRCs"). As of March 31, 2026, we owned 363 communities (32,879 units), leased 176 communities (10,456 units), and managed 29 communities (4,293 units).

Our senior living communities and our comprehensive network help to provide seniors with care, connection, and services in an environment that feels like home. Our expertise in healthcare, hospitality, and real estate provides residents with opportunities to improve wellness, pursue passions, make new friends, and stay connected with loved ones. By providing residents with a range of service options as their needs change, we provide greater continuity of care, enabling seniors to age-in-place, which we believe enables them to maintain residency with us for a longer period of time. The ability of residents to age-in-place is also beneficial to our residents' families who are concerned with care decisions for their elderly relatives.

**<u>Community Dispositions</u>**

We have continued executing on our ongoing capital recycling program through which we have exited non-strategic or underperforming owned assets or leases. Such activities completed during the three months ended March 31, 2026 included the sale of seven owned communities (330 units) for proceeds of $22.1 million, net of transaction costs, and the disposal of two communities (152 units) through lease termination. Subsequent to March 31, 2026, we completed the sale of three owned communities (545 units) for cash proceeds of $88 million, net of transaction costs.

We plan to sell 19 additional owned communities (1,438 units) during 2026. The closings of the expected sales of assets are subject (where applicable) to our successful marketing of such assets on terms acceptable to us. Further, the closings of the expected sales of assets are, or will be, subject to the satisfaction of various conditions, including (where applicable) the receipt of regulatory approvals. There can be no assurance that the transactions will close or, if they do, when the actual closings will occur.

**<u>Results of Operations</u>**

The following discussion should be read in conjunction with our condensed consolidated financial statements and the related notes, which are included in "Item 1. Financial Statements" of this Quarterly Report on Form 10-Q. The results of operations for any particular period are not necessarily indicative of results for any future period.

We use the operating measures described below in connection with operating and managing our business and reporting our results of operations.

• Senior housing operating results and data presented on a **same community basis** reflect results and data of a consistent population of communities by excluding the impact of changes in the composition of our portfolio of communities. The operating results exclude natural disaster expense and related insurance recoveries. We define our same community portfolio as communities consolidated and operational for the full period in both comparison years. Consolidated communities excluded from the same community portfolio include communities acquired or disposed of since the beginning of the prior year, communities classified as assets held for sale, certain communities planned for disposition including through asset sales or lease terminations, certain communities that have undergone or are undergoing expansion, redevelopment, and repositioning projects, and certain communities that have experienced a casualty event that significantly impacts their operations. Our management uses same community operating results and data for decision making and components of executive compensation, and we believe such results and data provide useful information to investors, because it enables comparisons of revenue, expense, and other operating measures for a consistent portfolio over time without giving effect to the impacts of communities that were not consolidated and operational for the comparison periods, communities acquired or disposed during the comparison periods (or planned for disposition), and communities with results that are or likely will be impacted by completed or in-process development-related capital expenditure projects.

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• **RevPAR**, or average monthly senior housing resident fee revenue per available unit, is defined as resident fee revenue for the corresponding portfolio for the period (excluding revenue for private duty services provided to seniors living outside of our communities), divided by the weighted average number of available units in the corresponding portfolio for the period, divided by the number of months in the period. We measure RevPAR at the consolidated level, as well as at the segment level with respect to our Independent Living, Assisted Living and Memory Care, and CCRCs segments. Our management uses RevPAR for decision making and components of executive compensation, and we believe the measure provides useful information to investors, because the measure is an indicator of senior housing resident fee revenue performance that reflects the impact of both senior housing occupancy and rate.

• **RevPOR**, or average monthly senior housing resident fee revenue per occupied unit, is defined as resident fee revenue for the corresponding portfolio for the period (excluding revenue for private duty services provided to seniors living outside of our communities), divided by the weighted average number of occupied units in the corresponding portfolio for the period, divided by the number of months in the period. We measure RevPOR at the consolidated level, as well as at the segment level with respect to our Independent Living, Assisted Living and Memory Care, and CCRCs segments. Our management uses RevPOR for decision making, and we believe the measure provides useful information to investors, because it reflects the average amount of senior housing resident fee revenue we derive from an occupied unit per month without factoring occupancy rates. RevPOR is a significant driver of our senior housing revenue performance.

• Weighted average occupancy reflects the percentage of units at our owned and leased communities being utilized by residents over a reporting period. We measure occupancy rates with respect to our Independent Living, Assisted Living and Memory Care, and CCRCs segments, and also measure this metric both on a consolidated senior housing and a same community basis. Our management uses weighted average occupancy, and we believe the measure provides useful information to investors, because it is a significant driver of our senior housing revenue performance.

This section includes the non-GAAP performance measure Adjusted EBITDA. See "Non-GAAP Financial Measures" below for our definition of the measure and other important information regarding such measure, including reconciliations to the most comparable measure in accordance with generally accepted accounting principles in the United States ("GAAP").

**Comparison of Three Months Ended March 31, 2026 and 2025** 

***Summary Operating Results***

The following table summarizes our overall operating results for the three months ended March 31, 2026 and 2025.

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| | | | | |
|:---|:---|:---|:---|:---|
| | **Three Months Ended<br>March 31,** | **Three Months Ended<br>March 31,** | **Increase (Decrease)** | **Increase (Decrease)** |
| *(in thousands)* | **2026** | **2025** | **Amount** | **Percent** |
| Resident fees | $722456 | $777454 | $(54998) | (7.1)% |
| Facility operating expense | 511470 | 556987 | (45517) | (8.2)% |
| Net income (loss) | (6904) | (64993) | (58089) | (89.4)% |
| Adjusted EBITDA | 131052 | 124139 | 6913 | 5.6% |

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The decrease in resident fees was primarily attributable to the disposition of communities since the beginning of the prior year period, which resulted in $93.1 million less in resident fees during the three months ended March 31, 2026 compared to the prior year period. The decrease was partially offset by a 5.5% increase in same community RevPAR, comprised of a 3.4% increase in same community RevPOR and a 170 basis point increase in same community weighted average occupancy.

The decrease in facility operating expense was primarily attributable to the disposition of communities since the beginning of the prior year period, which resulted in $72.0 million less in facility operating expense during the three months ended March 31, 2026 compared to the prior year period. The decrease was partially offset by a 5.9% increase in same community facility operating expense primarily due to increases in wage rates, increases in estimated insurance expense, and increases in utilities and maintenance expenses associated with winter storm activity.

The decrease in net loss was primarily attributable to a $32.8 million loss on extinguishment of a financing obligation during the prior year period for the reacquisition of three communities previously subject to sale-leaseback transactions and decreases in depreciation and amortization expense and facility operating lease expense due to the disposition of communities since the beginning of the prior year period.

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The increase in Adjusted EBITDA was primarily attributable to an increase in same community resident fees partially offset by an increase in same community facility operating expense.

***Operating Results - Senior Housing Segments***

The following table summarizes the consolidated operating results and data of our three senior housing segments (Independent Living, Assisted Living and Memory Care, and CCRCs) for the three months ended March 31, 2026 and 2025, including operating results and data on a same community basis. The same community portfolio excludes 23 communities, including 22 communities that we sold subsequent to March 31, 2026 or that we plan to sell during 2026. See management's discussion and analysis of the operating results on an individual segment basis on the following pages.

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended<br>March 31,** | **Three Months Ended<br>March 31,** | **Increase (Decrease)** | **Increase (Decrease)** | **Increase (Decrease)** |
| *(in thousands, except communities, units, occupancy, RevPAR, and RevPOR)* | **2026** | **2025** | **Amount** | **Amount** | **Percent** |
| Resident fees | $722456 | $777454 | $(54998) |  | (7.1)% |
| Facility operating expense | $511470 | $556987 | $(45517) |  | (8.2)% |
| Number of communities (period end) | 539 | 619 | (80) |  | (12.9)% |
| Total average units | 43637 | 50840 | (7203) |  | (14.2)% |
| RevPAR | $5506 | $5090 | $416 |  | 8.2% |
| Weighted average occupancy | 82.1% | 79.3% | 280 | bps | n/a |
| RevPOR | $6705 | $6416 | $289 |  | 4.5% |
| *Same Community Operating Results and Data* |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Resident fees | $690939 | $654682 | $36257 |  | 5.5% |
| &nbsp;&nbsp;&nbsp;Facility operating expense | $481120 | $454173 | $26947 |  | 5.9% |
| &nbsp;&nbsp;&nbsp;Number of communities | 516 | 516 |  |  | —% |
| &nbsp;&nbsp;&nbsp;Total average units | 41273 | 41272 | 1 |  | —% |
| &nbsp;&nbsp;&nbsp;RevPAR | $5580 | $5288 | $292 |  | 5.5% |
| &nbsp;&nbsp;&nbsp;Weighted average occupancy | 82.7% | 81.0% | 170 | bps | n/a |
| &nbsp;&nbsp;&nbsp;RevPOR | $6745 | $6526 | $219 |  | 3.4% |

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*Independent Living Segment*

The following table summarizes the operating results and data for our Independent Living segment for the three months ended March 31, 2026 and 2025, including operating results and data on a same community basis.

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended<br>March 31,** | **Three Months Ended<br>March 31,** | **Increase (Decrease)** | **Increase (Decrease)** | **Increase (Decrease)** |
| *(in thousands, except communities, units, occupancy, RevPAR, and RevPOR)* | **2026** | **2025** | **Amount** | **Amount** | **Percent** |
| Resident fees | $120330 | $157117 | $(36787) |  | (23.4)% |
| Facility operating expense | $77118 | $102885 | $(25767) |  | (25.0)% |
| Number of communities (period end) | 53 | 68 | (15) |  | (22.1)% |
| Total average units | 9138 | 12582 | (3444) |  | (27.4)% |
| RevPAR | $4389 | $4162 | $227 |  | 5.5% |
| Weighted average occupancy | 84.1% | 81.2% | 290 | bps | n/a |
| RevPOR | $5217 | $5127 | $90 |  | 1.8% |
| *Same Community Operating Results and Data* |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Resident fees | $118706 | $110644 | $8062 |  | 7.3% |
| &nbsp;&nbsp;&nbsp;Facility operating expense | $76163 | $71630 | $4533 |  | 6.3% |
| &nbsp;&nbsp;&nbsp;Number of communities | 52 | 52 |  |  | —% |
| &nbsp;&nbsp;&nbsp;Total average units | 8941 | 8940 | 1 |  | —% |
| &nbsp;&nbsp;&nbsp;RevPAR | $4426 | $4125 | $301 |  | 7.3% |
| &nbsp;&nbsp;&nbsp;Weighted average occupancy | 84.4% | 82.8% | 160 | bps | n/a |
| &nbsp;&nbsp;&nbsp;RevPOR | $5242 | $4984 | $258 |  | 5.2% |

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The decrease in the segment's resident fees was primarily attributable to the disposition of communities since the beginning of the prior year period, which resulted in $45.1 million less in resident fees during the three months ended March 31, 2026 compared to the prior year period. The decrease was partially offset by an increase in the segment's same community RevPAR, comprised of a 5.2% increase in same community RevPOR and a 160 basis point increase in same community weighted average occupancy. The increase in the segment's same community RevPOR was primarily the result of the current year annual rate increase.

The decrease in the segment's facility operating expense was primarily attributable to the disposition of communities since the beginning of the prior year period, which resulted in $29.9 million less in facility operating expense during the three months ended March 31, 2026 compared to the prior year period. The decrease was partially offset by an increase in the segment's same community facility operating expense primarily resulting from increases in wage rates and increases in estimated insurance expense.

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*Assisted Living and Memory Care Segment*

The following table summarizes the operating results and data for our Assisted Living and Memory Care segment for the three months ended March 31, 2026 and 2025, including operating results and data on a same community basis.

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended<br>March 31,** | **Three Months Ended<br>March 31,** | **Increase (Decrease)** | **Increase (Decrease)** | **Increase (Decrease)** |
| *(in thousands, except communities, units, occupancy, RevPAR, and RevPOR)* | **2026** | **2025** | **Amount** | **Amount** | **Percent** |
| Resident fees | $523188 | $533379 | $(10191) |  | (1.9)% |
| Facility operating expense | $372872 | $383826 | $(10954) |  | (2.9)% |
| Number of communities (period end) | 472 | 534 | (62) |  | (11.6)% |
| Total average units | 30415 | 33524 | (3109) |  | (9.3)% |
| RevPAR | $5716 | $5292 | $424 |  | 8.0% |
| Weighted average occupancy | 81.5% | 78.7% | 280 | bps | n/a |
| RevPOR | $7011 | $6720 | $291 |  | 4.3% |
| *Same Community Operating Results and Data* |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Resident fees | $501849 | $476310 | $25539 |  | 5.4% |
| &nbsp;&nbsp;&nbsp;Facility operating expense | $351593 | $330211 | $21382 |  | 6.5% |
| &nbsp;&nbsp;&nbsp;Number of communities | 451 | 451 |  |  | —% |
| &nbsp;&nbsp;&nbsp;Total average units | 28722 | 28722 |  |  | —% |
| &nbsp;&nbsp;&nbsp;RevPAR | $5824 | $5528 | $296 |  | 5.4% |
| &nbsp;&nbsp;&nbsp;Weighted average occupancy | 82.2% | 80.5% | 170 | bps | n/a |
| &nbsp;&nbsp;&nbsp;RevPOR | $7086 | $6865 | $221 |  | 3.2% |

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The decrease in the segment's resident fees was primarily attributable to the disposition of communities since the beginning of the prior year period, which resulted in $39.7 million less in resident fees during the three months ended March 31, 2026 compared to the prior year period. The decrease was partially offset by an increase in the segment's same community RevPAR, comprised of a 3.2% increase in same community RevPOR and a 170 basis point increase in same community weighted average occupancy. The increase in the segment's same community RevPOR was primarily the result of the current year annual rate increase.

The decrease in the segment's facility operating expense was primarily attributable to the disposition of communities since the beginning of the prior year period, which resulted in $34.1 million less in facility operating expense during the three months ended March 31, 2026 compared to the prior year period. The decrease was partially offset by an increase in the segment's same community facility operating expense primarily resulting from increases in wage rates, increases in estimated insurance expense, and increases in utilities and maintenance expenses associated with winter storm activity.

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*CCRCs Segment*

The following table summarizes the operating results and data for our CCRCs segment for the three months ended March 31, 2026 and 2025, including operating results and data on a same community basis.

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended<br>March 31,** | **Three Months Ended<br>March 31,** | **Increase (Decrease)** | **Increase (Decrease)** | **Increase (Decrease)** |
| *(in thousands, except communities, units, occupancy, RevPAR, and RevPOR)* | **2026** | **2025** | **Amount** | **Amount** | **Percent** |
| Resident fees | $78938 | $86958 | $(8020) |  | (9.2)% |
| Facility operating expense | $61480 | $70276 | $(8796) |  | (12.5)% |
| Number of communities (period end) | 14 | 17 | (3) |  | (17.6)% |
| Total average units | 4084 | 4734 | (650) |  | (13.7)% |
| RevPAR | $6443 | $6123 | $320 |  | 5.2% |
| Weighted average occupancy | 82.0% | 78.5% | 350 | bps | n/a |
| RevPOR | $7859 | $7798 | $61 |  | 0.8% |
| *Same Community Operating Results and Data* |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Resident fees | $70384 | $67728 | $2656 |  | 3.9% |
| &nbsp;&nbsp;&nbsp;Facility operating expense | $53364 | $52332 | $1032 |  | 2.0% |
| &nbsp;&nbsp;&nbsp;Number of communities | 13 | 13 |  |  | —% |
| &nbsp;&nbsp;&nbsp;Total average units | 3610 | 3610 |  |  | —% |
| &nbsp;&nbsp;&nbsp;RevPAR | $6499 | $6254 | $245 |  | 3.9% |
| &nbsp;&nbsp;&nbsp;Weighted average occupancy | 82.8% | 80.7% | 210 | bps | n/a |
| &nbsp;&nbsp;&nbsp;RevPOR | $7848 | $7745 | $103 |  | 1.3% |

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The decrease in the segment's resident fees was primarily attributable to the disposition of communities since the beginning of the prior year period, which resulted in $8.3 million less in resident fees during the three months ended March 31, 2026 compared to the prior year period. The decrease was partially offset by an increase in the segment's same community RevPAR, comprised of a 210 basis point increase in same community weighted average occupancy and a 1.3% increase in the segment's same community RevPOR. The increase in the segment's same community RevPOR was primarily the result of the current year annual rate increase, partially offset by lower skilled nursing revenue and an occupancy mix shift to more independent living residents.

The decrease in the segment's facility operating expense was primarily attributable to the disposition of communities since the beginning of the prior year period, which resulted in $8.0 million less in facility operating expense during the three months ended March 31, 2026 compared to the prior year period. The decrease was partially offset by an increase in the segment's same community facility operating expense primarily resulting from increases in wage rates and increases in utilities and maintenance expenses associated with winter storm activity.

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***Operating Results - Other Income and Expense Items***

The following table summarizes other income and expense items in our operating results for the three months ended March 31, 2026 and 2025.

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| | | | | |
|:---|:---|:---|:---|:---|
| | **Three Months Ended<br>March 31,** | **Three Months Ended<br>March 31,** | **Increase (Decrease)** | **Increase (Decrease)** |
| *(in thousands)* | **2026** | **2025** | **Amount** | **Percent** |
| Management fees | $5373 | $2620 | $2753 | 105.1% |
| Reimbursed costs incurred on behalf of managed communities | 37027 | 33790 | 3237 | 9.6% |
| Costs incurred on behalf of managed communities | 37027 | 33790 | 3237 | 9.6% |
| General and administrative expense | 45057 | 47874 | (2817) | (5.9)% |
| Facility operating lease expense | 43981 | 52874 | (8893) | (16.8)% |
| Depreciation and amortization | 73463 | 90976 | (17513) | (19.3)% |
| Asset impairment | 6115 | 1787 | 4328 | NM |
| Loss (gain) on sale of communities, net | (4034) |  | 4034 | NM |
| Interest income | 3113 | 3648 | (535) | (14.7)% |
| Interest expense | 59552 | 65031 | (5479) | (8.4)% |
| Gain (loss) on debt modification and extinguishment, net | (2786) | (35220) | (32434) | (92.1)% |
| Other non-operating income (loss) | 115 | 1358 | (1243) | (91.5)% |
| Benefit (provision) for income taxes | 429 | 676 | (247) | (36.5)% |

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*Management fees.* The increase in management fees was primarily attributable to $2.5 million of management termination fee revenue recognized during the three months ended March 31, 2026. Management fees of $5.4 million for the three months ended March 31, 2026 include $4.7 million of management fees attributable to communities for which our management agreements were terminated during such period or subsequent to March 31, 2026.

*Reimbursed Costs Incurred on Behalf of Managed Communities and Costs Incurred on Behalf of Managed Communities.* The increase in reimbursed costs and costs incurred on behalf of managed communities was primarily attributable to management agreements entered into since the beginning of the prior year period.

*General and Administrative Expense.* The decrease in general and administrative expense was primarily attributable to our efforts to reduce general and administrative expense as we scaled our general and administrative costs in connection with community dispositions and $1.6 million of transaction costs for stockholder relations advisory matters in the prior year period. General and administrative expense includes transaction, legal, and organizational restructuring costs of $0.8 million and $1.7 million for the three months ended March 31, 2026 and 2025, respectively. Transaction costs include those directly related to acquisition, disposition, financing, and leasing activity and stockholder relations advisory matters, and are primarily comprised of legal, finance, consulting, professional fees, and other third-party costs. Legal costs include charges associated with putative class action litigation. Organizational restructuring costs include those related to our efforts to reduce general and administrative expense and our senior leadership changes, including severance costs.

*Facility Operating Lease Expense.* The decrease in facility operating lease expense was primarily due to the termination of community leases subsequent to the prior year period.

*Depreciation and Amortization*. The decrease in depreciation and amortization expense was primarily due to the disposition of communities since the beginning of the prior year period.

*Asset Impairment*. The increase in asset impairment was primarily due to changes in estimates of fair value for certain communities planned for disposition.

*Loss (gain) on sale of communities, net*. The increase in gain on sale of communities is driven by the sale of seven communities for proceeds of $22.1 million, net of transaction costs in the three months ended March 31, 2026.

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*Interest expense*. The decrease in interest expense was primarily due to the acquisition of 36 communities previously subject to financing leases subsequent to the beginning of the prior year period and an increase in the fair value of interest rate derivatives in the current period.

*Gain (Loss) on Debt Modification and Extinguishment, Net.* The decrease in loss on debt modification and extinguishment, net was primarily due to a $32.8 million loss on extinguishment of a financing obligation during the prior year period for the reacquisition of three communities previously subject to sale-leaseback transactions.

**<u>Liquidity and Capital Resources</u>**

This section includes the non-GAAP liquidity measure Adjusted Free Cash Flow. See "Non-GAAP Financial Measures" below for our definition of the measure and other important information regarding such measure, including reconciliations to the most comparable GAAP measure.

**Liquidity**

The following is a summary of cash flows from operating, investing, and financing activities, as reflected in the condensed consolidated statements of cash flows, and our Adjusted Free Cash Flow.

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|:---|:---|:---|:---|:---|
| | **Three Months Ended<br>March 31,** | **Three Months Ended<br>March 31,** | **Increase (Decrease)** | **Increase (Decrease)** |
| *(in thousands)* | **2026** | **2025** | **Amount** | **Percent** |
| Net cash provided by operating activities | $20887 | $23402 | $(2515) | (10.7)% |
| Net cash provided by (used in) investing activities | (29734) | (326755) | (297021) | (90.9)% |
| Net cash provided by (used in) financing activities | (508) | 239669 | (240177) | NM |
| &nbsp;&nbsp;&nbsp;Net increase (decrease) in cash, cash equivalents, and restricted cash | (9355) | (63684) | (54329) | (85.3)% |
| &nbsp;&nbsp;&nbsp;Cash, cash equivalents, and restricted cash at beginning of period | 343008 | 379840 | (36832) | (9.7)% |
| &nbsp;&nbsp;&nbsp;Cash, cash equivalents, and restricted cash at end of period | $333653 | $316156 | $17497 | 5.5% |
| Adjusted Free Cash Flow | $(12225) | $3780 | $(16005) | NM |

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The decrease in net cash provided by operating activities was primarily attributable to an increase in the use of cash for changes in accrued expenses.

The decrease in net cash used in investing activities was primarily attributable to $311.0 million of cash paid for the acquisition of formerly leased communities in the prior year period.

The change in net cash provided by (used in) financing activities was primarily attributable to a $147.6 million increase in repayment of debt compared to the prior year period and a $89.0 million decrease in debt proceeds compared to the prior year period.

The change in Adjusted Free Cash Flow was primarily attributable to a $7.3 million increase in non-development capital expenditures, net and the decrease in net cash provided by operating activities.

Our principal sources of liquidity have historically been from:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• cash balances on hand, cash equivalents, and marketable securities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• cash flows from operations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• proceeds from our credit facilities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• funds generated through unconsolidated venture arrangements;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• proceeds from mortgage financing or refinancing of various assets;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• funds raised in the debt or equity markets; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• proceeds from the disposition of assets.

Over the longer-term, we expect to continue to fund our business through these principal sources of liquidity.

------

Over the near-term, we expect that our liquidity requirements will primarily arise from:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• working capital;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• operating costs such as labor costs, severance costs, general and administrative expense, and supply costs;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• debt, interest, and lease payments;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• investment in our healthcare and wellness initiatives;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• transaction consideration and related expenses;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• capital expenditures and improvements;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• cash collateral required to be posted in connection with our financial instruments and insurance programs; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• other corporate initiatives (including information systems and other strategic projects).

We are highly leveraged and have significant debt and lease obligations. As of March 31, 2026, we had $4.3 billion of debt outstanding at a weighted average interest rate of 5.06%. As of such date, 89.3%, or $3.9 billion, of our total debt obligations represented non-recourse property-level mortgage financings.

As of March 31, 2026, we had $1.2 billion of operating and financing lease obligations, and for the twelve months ending March 31, 2027, we will be required to make approximately $192.2 million of cash lease payments in connection with our existing operating and financing leases.

Total liquidity of $368.7 million as of March 31, 2026 included $265.2 million of unrestricted cash and cash equivalents (excluding restricted cash of $68.4 million), $4.9 million of marketable securities, and $98.6 million of availability on our secured credit facility. Subsequent to March 31, 2026, we completed the sale of three owned communities (545 units) for cash proceeds of $88 million, net of transaction costs, which further enhanced our liquidity subsequent to March 31, 2026.

We currently estimate our historical principal sources of liquidity, primarily our cash flows from operations, together with cash balances on hand and cash equivalents, availability on our secured credit facility, and proceeds from financings and refinancings of various assets will be sufficient to fund our liquidity needs for at least the next 12 months. We continue to focus on increasing our RevPAR, maintaining appropriate expense discipline, continuing to refinance or exercise available extension options for maturing debt, continuing to evaluate our capital structure and the state of debt and equity markets, and monetizing non-strategic or underperforming owned assets. There is no assurance that financing will continue to be available on terms consistent with our expectations or at all, or that our efforts will be successful in monetizing certain assets or exercising extension options.

Our actual liquidity and capital funding requirements depend on numerous factors, including our operating results, our actual level of capital expenditures, general economic conditions, and the cost of capital, as well as other factors described in "Item 1A. Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2025 filed with the Securities and Exchange Commission ("SEC") on February 19, 2026. Since the amount of mortgage financing available for our communities is generally dependent on their appraised values and performance, decreases in their appraised values, including due to adverse changes in real estate market conditions, or their performance, could result in available mortgage refinancing amounts that are less than the communities' maturing indebtedness. In addition, our inability to satisfy underwriting criteria for individual communities may limit our access to our historical lending sources for such communities, including Fannie Mae and Freddie Mac. As of March 31, 2026, 11% of our owned communities were unencumbered by mortgage debt.

As of March 31, 2026, the current portion of long-term debt was $82.6 million, which includes $23.3 million of our 2.00% convertible senior notes due October 15, 2026 and $6.2 million of mortgage notes payable secured by assets held for sale. We have completed the refinancing of all of our mortgage debt maturities due in 2026. Our inability to obtain refinancing proceeds sufficient to cover 2027 and later maturing indebtedness could adversely impact our liquidity, and may cause us to seek additional alternative sources of financing, which may be less attractive or unavailable. Shortfalls in cash flows from estimated operating results or other principal sources of liquidity may have an adverse impact on our ability to fund our planned capital expenditures or to fund investments to support our strategy. In order to continue some of these activities at historical or planned levels, we may incur additional indebtedness or lease financing to provide additional funding. There can be no assurance that any such additional financing will be available or on terms that are acceptable to us.

------

Funding our planned capital expenditures or investments to support our strategy may require additional capital. We expect to continue to assess our financing alternatives periodically and access the capital markets opportunistically. If our existing resources are insufficient to satisfy our liquidity requirements, we may need to sell additional equity or debt securities. Any such sale of additional equity securities will dilute the percentage ownership of our existing stockholders, and we cannot be certain that additional public or private financing will be available in amounts or on terms acceptable to us, if at all. Any newly issued equity securities may have rights, preferences, or privileges senior to those of our common stock. If we are unable to raise additional funds or obtain them on terms acceptable to us, we may have to delay or abandon our plans.

**Capital Expenditures**

Our capital expenditures for the three months ended March 31, 2026 are comprised of community-level and corporate capital expenditures. Community-level capital expenditures include maintenance expenditures (including routine maintenance of communities over $1,500 per occurrence), community renovations, unit upgrades (including unit turnovers over $500 per unit), and other major building infrastructure projects (including replacements of major building systems). Corporate capital expenditures include those for information technology systems and equipment and the remediation or replacement of assets as a result of casualty losses.

The following table summarizes our capital expenditures for the three months ended March 31, 2026 for our consolidated business.

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| | |
|:---|:---|
| *(in thousands)* |  |
| Community-level capital expenditures, net<sup>(1)</sup> | $40064 |
| Corporate capital expenditures, net | 8316 |
| &nbsp;&nbsp;&nbsp;**Non-development capital expenditures, net** | $48380 |

---

(1)Reflects the amount invested, net of lessor reimbursements of $4.8 million.

**Credit Facilities**

In December 2023, we amended our revolving credit agreement with Capital One, National Association, as administrative agent and lender and the other lenders from time to time parties thereto. The amended agreement provides an expanded commitment amount of up to $100.0 million which can be drawn in cash or as letters of credit. The credit facility matures in January 2027, and we have the option to extend the facility for two additional terms of approximately one year each subject to the satisfaction of certain conditions. We expect to satisfy the conditions to exercise the option to extend the facility for the first additional term. Amounts drawn under the facility will bear interest at the Secured Overnight Financing Rate ("SOFR") plus an applicable margin ranging from 2.5% to 3.0% based upon the percentage of the total commitment drawn. Additionally, a quarterly commitment fee of 0.35% per annum was applicable on the unused portion of the facility as of March 31, 2026. The revolving credit facility is currently secured by first priority mortgages and negative pledges on certain of our communities. Available capacity under the facility will vary from time to time based upon certain calculations related to the appraised value and performance of the communities securing the credit facility and the variable interest rate of the credit facility.

As of March 31, 2026, $1.4 million of letters of credit and no cash borrowings were outstanding under our $100.0 million secured credit facility and the facility had $98.6 million of availability. We also had separate letter of credit facilities providing up to $68.0 million of letters of credit as of March 31, 2026 under which $59.2 million had been issued as of that date.

**Long-Term Leases**

As of March 31, 2026, we operated 176 communities under long-term leases (167 operating leases and 9 financing leases). The substantial majority of our lease arrangements are structured as master leases. Under a master lease, numerous communities are leased through an indivisible lease. In certain cases, we guarantee the performance and lease payment obligations of our subsidiary lessees under the master leases. Due to the nature of such master leases, it is difficult to restructure the composition of our leased portfolios or economic terms of the leases without the consent of the applicable landlord. In addition, an event of default related to an individual property or limited number of properties within a master lease portfolio may result in a default on the entire master lease portfolio.

------

The leases relating to substantially all of our leased communities are fixed-rate leases with annual escalators that are fixed. We are responsible for all operating costs, including repairs and maintenance, property taxes, and insurance. The lease terms generally provide for renewal or extension options, or in certain cases, purchase options.

The community leases contain other customary terms, which may include assignment and change of control restrictions, maintenance and capital expenditure obligations, termination provisions, and financial covenants, such as those requiring us to maintain prescribed minimum liquidity and net worth levels and lease coverage ratios. Our lease documents generally contain non-financial covenants, such as those requiring us to comply with Medicare or Medicaid provider requirements and maintain insurance coverage. Certain leases contain cure provisions, which generally allow us to post an additional lease security deposit if the required covenant is not met.

Certain of our master leases contain radius restrictions, which limit our ability to own, develop, or acquire new communities within a specified distance from certain existing communities covered by such agreements. These radius restrictions could negatively affect our ability to expand, develop, or acquire senior housing communities and operating companies.

For the three months ended March 31, 2026, our cash lease payments for our operating leases were $46.5 million and for our financing leases were $2.0 million. For the twelve months ending March 31, 2027, we will be required to make approximately $192.2 million of cash lease payments in connection with our existing operating and financing leases.

**Debt and Lease Covenants**

Certain of our long-term debt and lease documents contain restrictions, maintenance and capital expenditure obligations, and financial covenants, such as those requiring us to maintain prescribed minimum liquidity and net worth levels and debt service and lease coverage ratios, and requiring us not to exceed prescribed leverage ratios, in each case on a consolidated, portfolio-wide, multi-community, single-community, and/or entity basis. These covenants include a requirement contained in certain of our long-term debt documents for us to maintain liquidity of at least $130.0 million at each quarter-end determination date. As of March 31, 2026, our liquidity was $368.7 million.

In addition, our debt and lease documents generally contain non-financial covenants, such as those requiring us to comply with Medicare or Medicaid provider requirements and maintain insurance coverage. Our failure to comply with applicable covenants could constitute an event of default under the applicable debt or lease documents. Many of our debt and lease documents contain cross-default provisions so that a default under one of these instruments could cause a default under other debt and lease documents (including documents with other lenders and lessors).

Furthermore, our mortgage debt is secured by our communities and, in certain cases, our long-term debt and leases are secured by a guaranty by us and/or one or more of our subsidiaries. Therefore, if an event of default has occurred under any of our debt or lease documents, subject to cure provisions in certain instances, the respective lender or lessor would have the right to declare all the related outstanding amounts of indebtedness or cash lease obligations immediately due and payable, to foreclose on our mortgaged communities, to terminate our leasehold interests, to foreclose on other collateral securing the indebtedness and leases, to discontinue our operation of leased communities, and/or to pursue other remedies available to such lender or lessor. Further, an event of default could trigger cross-default provisions in our other debt and lease documents (including documents with other lenders or lessors). We cannot provide assurance that we would be able to pay the debt or lease obligations if they became due upon acceleration following an event of default.

As of March 31, 2026, we are in compliance with the financial covenants of our debt agreements and long-term leases.

**<u>Non-GAAP Financial Measures</u>**

This Quarterly Report on Form 10-Q contains the financial measures Adjusted EBITDA and Adjusted Free Cash Flow, which are not calculated in accordance with GAAP. Presentations of these non-GAAP financial measures are intended to aid investors in better understanding the factors and trends affecting our performance and liquidity. However, investors should not consider these non-GAAP financial measures as a substitute for financial measures determined in accordance with GAAP, including net income (loss), income (loss) from operations, or net cash provided by operating activities. We caution investors that amounts presented in accordance with our definitions of these non-GAAP financial measures may not be comparable to similar measures disclosed by other companies because not all companies calculate non-GAAP measures in the same manner. We urge investors to review the following reconciliations of these non-GAAP financial measures from the most comparable financial measures determined in accordance with GAAP.

------

**Adjusted EBITDA**

Adjusted EBITDA is a non-GAAP performance measure that we define as net income (loss) excluding: benefit/provision for income taxes, non-operating income/expense items, and depreciation and amortization; and further adjusted to exclude income/expense associated with non-cash, non-operational, transactional, legal, cost reduction, or organizational restructuring items that management does not consider as part of our underlying core operating performance and that management believes impact the comparability of performance between periods. For the periods presented herein, such other items include non-cash impairment charges, operating lease expense adjustment, non-cash stock-based compensation expense, gain/loss on sale of communities, and transaction, legal, and organizational restructuring costs. Transaction costs include those directly related to acquisition, disposition, financing, and leasing activity and stockholder relations advisory matters, and are primarily comprised of legal, finance, consulting, professional fees, and other third-party costs. Legal costs include charges associated with putative class action litigation. Organizational restructuring costs include those related to our efforts to reduce general and administrative expense and our senior leadership changes, including severance.

We believe that presentation of Adjusted EBITDA as a performance measure is useful to investors because (i) it is one of the metrics used by our management for budgeting and other planning purposes, to review our historic and prospective core operating performance, and to make day-to-day operating decisions; (ii) it provides an assessment of operational factors that management can impact in the short-term, namely revenues and the controllable cost structure of the organization, by eliminating items related to our financing and capital structure and other items that management does not consider as part of our underlying core operating performance and that management believes impact the comparability of performance between periods; (iii) we believe that this measure is used by research analysts and investors to evaluate our operating results and to value companies in our industry; and (iv) we use the measure for components of executive compensation.

Adjusted EBITDA has material limitations as a performance measure, including: (i) excluded interest and income tax are necessary to operate our business under our current financing and capital structure; (ii) excluded depreciation, amortization, and impairment charges may represent the wear and tear and/or reduction in value of our communities, goodwill, and other assets and may be indicative of future needs for capital expenditures; and (iii) we may incur income/expense similar to those for which adjustments are made, such as gain/loss on sale of assets, facility operating lease termination, or debt modification and extinguishment, non-cash stock-based compensation expense, and transaction, legal, and other costs, and such income/expense may significantly affect our operating results.

The table below reconciles Adjusted EBITDA from net income (loss).

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| | | |
|:---|:---|:---|
| | **Three Months Ended<br>March 31,** | **Three Months Ended<br>March 31,** |
| *(in thousands)* | **2026** | **2025** |
| **Net income (loss)** | $(6904) | $(64993) |
| Provision (benefit) for income taxes | (429) | (676) |
| Loss (gain) on debt modification and extinguishment, net | 2786 | 35220 |
| Other non-operating (income) loss | (115) | (1358) |
| Interest expense | 59552 | 65031 |
| Interest income | (3113) | (3648) |
| &nbsp;&nbsp;&nbsp;Income (loss) from operations | 51777 | 29576 |
| Depreciation and amortization | 73463 | 90976 |
| Asset impairment | 6115 | 1787 |
| Loss (gain) on sale of communities, net | (4034) |  |
| Operating lease expense adjustment | (720) | (3853) |
| Non-cash stock-based compensation expense | 3680 | 3979 |
| Transaction, legal, and organizational restructuring costs | 771 | 1674 |
| &nbsp;&nbsp;&nbsp;**Adjusted EBITDA** | $131052 | $124139 |

---

------

**Adjusted Free Cash Flow**

Adjusted Free Cash Flow is a non-GAAP liquidity measure that we define as net cash provided by operating activities before: distributions from unconsolidated ventures from cumulative share of net earnings, changes in prepaid insurance premiums financed with notes payable, changes in operating lease assets and liabilities for lease termination, cash paid/received for gain/loss on facility operating lease termination, and lessor capital expenditure reimbursements under operating leases; plus: property and casualty insurance proceeds; less: non-development capital expenditures and payment of financing lease obligations. Non-development capital expenditures are comprised of corporate and community-level capital expenditures, including those related to maintenance, renovations, upgrades, and other major building infrastructure projects for our communities and is presented net of lessor reimbursements. Non-development capital expenditures do not include capital expenditures for: community expansions, major community redevelopment and repositioning projects, and the development of new communities.

We believe that presentation of Adjusted Free Cash Flow as a liquidity measure is useful to investors because (i) it is one of the metrics used by our management for budgeting and other planning purposes, to review our historic and prospective sources of operating liquidity, and to review our ability to service our outstanding indebtedness, pay dividends to stockholders, engage in share repurchases, and make capital expenditures, including development capital expenditures; and (ii) it provides an indicator to management to determine if adjustments to current spending decisions are needed.

Adjusted Free Cash Flow has material limitations as a liquidity measure, including: (i) it does not represent cash available for dividends, share repurchases, or discretionary expenditures since certain non-discretionary expenditures, including mandatory debt principal payments, are not reflected in this measure; (ii) the cash portion of non-recurring charges related to gain/loss on facility lease termination generally represent charges/gains that may significantly affect our liquidity; and (iii) the impact of timing of cash expenditures, including the timing of non-development capital expenditures, limits the usefulness of the measure for short-term comparisons.

The table below reconciles Adjusted Free Cash Flow from net cash provided by operating activities.

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| | | |
|:---|:---|:---|
| | **Three Months Ended<br>March 31,** | **Three Months Ended<br>March 31,** |
| *(in thousands)* | **2026** | **2025** |
| **Net cash provided by operating activities** | $20887 | $23402 |
| Net cash provided by (used in) investing activities | (29734) | (326755) |
| Net cash provided by (used in) financing activities | (508) | 239669 |
| &nbsp;&nbsp;&nbsp;Net increase (decrease) in cash, cash equivalents, and restricted cash | $(9355) | $(63684) |
| **Net cash provided by operating activities** | $20887 | $23402 |
| Changes in prepaid insurance premiums financed with notes payable | 20199 | 22392 |
| Changes in assets and liabilities for lessor capital expenditure reimbursements under operating leases | (4775) | (2013) |
| Non-development capital expenditures, net | (48380) | (41127) |
| Property and casualty insurance proceeds | 140 | 1415 |
| Payment of financing lease obligations | (296) | (289) |
| &nbsp;&nbsp;&nbsp;**Adjusted Free Cash Flow** | $(12225) | $3780 |

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**Item 3. Quantitative and Qualitative Disclosures About Market Risk**

We are subject to market risks from changes in interest rates charged on our credit facilities and other variable-rate indebtedness. The impact on earnings and the value of our long-term debt are subject to change as a result of movements in market rates and prices. As of March 31, 2026, 76%, or $3.3 billion, of our long-term debt had a weighted average fixed interest rate of 4.73%. As of March 31, 2026, we had $1.1 billion of long-term variable-rate debt, at a weighted average interest rate of 6.07%.

------

In the normal course of business, we enter into certain interest rate cap and swap agreements with major financial institutions to manage our risk above certain interest rates on variable-rate debt. As of March 31, 2026, our $1.1 billion of outstanding long-term variable-rate debt is indexed to SOFR plus a weighted average margin of 241 basis points. Accordingly, our annual interest expense related to long-term variable-rate debt is directly affected by movements in SOFR. As of March 31, 2026, $1.1 billion, or 96%, of our long-term variable-rate debt is subject to interest rate cap or swap agreements and $40.2 million of our variable rate debt is not subject to any interest rate cap or swap agreements. For our SOFR interest rate cap and swap agreements, as of March 31, 2026, the weighted average fixed interest rate is 4.28% and the weighted average remaining term is 1.5 years. Many of our long-term variable-rate debt instruments include provisions that obligate us to obtain additional interest rate cap agreements upon the maturity of the existing interest rate cap agreements. The costs of obtaining additional interest rate cap agreements may offset the benefits of our existing interest rate cap agreements.

The table below reflects the additional annual debt interest expense that would have resulted for the respective basis point increases in SOFR as of March 31, 2026.

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| | |
|:---|:---|
| **Increase in Index**<br>*(in basis points)* | **Annual Interest Expense Increase** <sup>(1)</sup><br>*(in millions)* |
| 100 | $4.9 |
| 200 | 7.1 |
| 500 | 9.4 |
| 1000 | 11.4 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)Amounts are after consideration of interest rate cap and swap agreements in place as of March 31, 2026.

**Item 4. Controls and Procedures**

*Evaluation of Disclosure Controls and Procedures*

Our management, under the supervision of and with the participation of our Chief Executive Officer and Chief Financial Officer, has evaluated the effectiveness of our disclosure controls and procedures (as such term is defined under Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as amended) as of the end of the period covered by this report. Based on such evaluation, our Chief Executive Officer and Chief Financial Officer each concluded that, as of March 31, 2026, our disclosure controls and procedures were effective.

*Changes in Internal Control over Financial Reporting*

There has not been any change in our internal control over financial reporting (as such term is defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act) during the quarter ended March 31, 2026 that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

**PART II. OTHER INFORMATION**

**Item 1. Legal Proceedings**

The information contained in Note 7 to the condensed consolidated financial statements contained in Part I, Item 1 of this Quarterly Report on Form 10-Q is incorporated herein by this reference.

**Item 1A. Risk Factors**

There have been no material changes to the risk factors set forth in Part I, Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2025.

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**Item 2. Unregistered Sales of Equity Securities and Use of Proceeds**

The following table contains information regarding purchases of our common stock made during the quarter ended March 31, 2026 by or on behalf of the Company or any ''affiliated purchaser,'' as defined by Rule 10b-18(a)(3) of the Exchange Act.

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| | | | | |
|:---|:---|:---|:---|:---|
| **Period** | **Total<br>Number of<br>Shares<br>Purchased** <sup>(1)</sup> | **Average<br>Price Paid<br>per Share** | **Total Number of<br>Shares Purchased as Part of Publicly<br>Announced Plans<br>or Programs** | **Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs ($ in thousands)** <sup>(2)</sup> |
| 1/1/2026 - 1/31/2026 | 12371 | $10.79 |  | $44026 |
| 2/1/2026 - 2/28/2026 | 493176 | 15.30 |  | 44026 |
| 3/1/2026 - 3/31/2026 | 19685 | 14.85 |  | 44026 |
| Total | 525232 | $15.18 |  |  |

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(1)Consists entirely of shares withheld to satisfy tax liabilities due upon the vesting of restricted stock units. The average price paid per share for such share withholding is based on the closing price per share on the vesting date of the restricted stock units or, if such date is not a trading day, the trading day immediately prior to such vesting date.

(2)In 2016, our Board of Directors approved a share repurchase program that authorizes us to purchase up to $100.0 million in the aggregate of our common stock. The share repurchase program is intended to be implemented through purchases made from time to time using a variety of methods, which may include open market purchases, privately negotiated transactions or block trades, or by any combination of such methods, in accordance with applicable insider trading and other securities laws and regulations. The size, scope and timing of any purchases will be based on business, market and other conditions and factors, including price, regulatory and contractual requirements, and capital availability. The repurchase program does not obligate us to acquire any particular amount of common stock and the program may be suspended, modified or discontinued at any time at our discretion without prior notice. Shares of stock repurchased under the program will be held as treasury shares. As of March 31, 2026, $44.0 million remained available under the repurchase program.

**Item 5. Other Information**

*Insider Adoption or Termination of Trading Arrangements*

During the fiscal quarter ended March 31, 2026, none of our directors or officers adopted or terminated a "Rule 10b5-1 trading arrangement" or "non-Rule 10b5-1 trading arrangement," as each term is defined in Item 408(a) of Regulation S-K.

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**Item 6. Exhibits**

---

| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| 3.1 | <u>[Amended and Restated Certificate of Incorporation of the Company, as amended (incorporated by reference to Exhibit 3.1 to the Company's Quarterly Report on Form 10-Q filed on November 5, 2019 (File No. 001-32641)).](https://www.sec.gov/Archives/edgar/data/1332349/000133234919000117/exhibit319302019.htm)</u> |
| 3.2 | <u>[Amended and Restated Bylaws of the Company dated October 29, 2019 (incorporated by reference to Exhibit 3.3 to the Company's Current Report on Form 8-K filed on October 29, 2019 (File No. 001-32641)).](https://www.sec.gov/Archives/edgar/data/1332349/000133234919000109/exhibit3310292019class.htm)</u> |
| 4.1 | <u>[Form of Certificate for common stock (incorporated by reference to Exhibit 4.1 to the Company's Registration Statement on Form S-1 (Amendment No. 3) filed on November 7, 2005 (File No. 333-127372)).](https://www.sec.gov/Archives/edgar/data/1332349/000095012305013121/y10687a3exv4w1.htm)</u> |
| 4.2 | <u>[Description of the Company's securities (incorporated by reference to Exhibit 4.2 to the Company's](https://www.sec.gov/Archives/edgar/data/1332349/000133234926000032/descriptionofsecurities2025.htm)[Annual](https://www.sec.gov/Archives/edgar/data/1332349/000133234926000032/descriptionofsecurities2025.htm)[Report on Form 10-](https://www.sec.gov/Archives/edgar/data/1332349/000133234926000032/descriptionofsecurities2025.htm)[K](https://www.sec.gov/Archives/edgar/data/1332349/000133234926000032/descriptionofsecurities2025.htm)[filed on](https://www.sec.gov/Archives/edgar/data/1332349/000133234926000032/descriptionofsecurities2025.htm)[February](https://www.sec.gov/Archives/edgar/data/1332349/000133234926000032/descriptionofsecurities2025.htm)[1](https://www.sec.gov/Archives/edgar/data/1332349/000133234926000032/descriptionofsecurities2025.htm)[9, 202](https://www.sec.gov/Archives/edgar/data/1332349/000133234926000032/descriptionofsecurities2025.htm)[6](https://www.sec.gov/Archives/edgar/data/1332349/000133234926000032/descriptionofsecurities2025.htm)[(File No. 001-32641)).](https://www.sec.gov/Archives/edgar/data/1332349/000133234926000032/descriptionofsecurities2025.htm)</u> |
| 4.3 | <u>[Indenture, dated as of October 1, 2021, by and among the Company and American Stock Transfer & Trust Company, LLC, as trustee, governing the 2.00% Convertible Senior Notes due 2026 (incorporated by reference to Exhibit 4.1 to the Company's Current Report on Form 8-K filed on October 1, 2021 (File No. 001-32641)).](https://www.sec.gov/Archives/edgar/data/1332349/000119312521289836/d240266dex41.htm)</u> |
| 4.4 | <u>[Form of 2.00% Convertible Senior Notes due 2026 (included in Exhibit 4.3).](https://www.sec.gov/Archives/edgar/data/1332349/000119312521289836/d240266dex41.htm)</u> |
| 4.5 | <u>[Indenture, dated as of October 3, 2024, between the Company and Equiniti Trust Company, LLC, as trustee (incorporated by reference to Exhibit 4.1 to the Company's Current Report on Form 8-K filed on October 4, 2024 (File No. 001-32641)).](https://www.sec.gov/Archives/edgar/data/1332349/000133234924000114/formofindenturedatedasofoc.htm)</u> |
| 4.6 | <u>[Form of 3.50% Convertible Senior Notes due 2029 (included in Exhibit 4.5).](https://www.sec.gov/ix?doc=/Archives/edgar/data/1332349/000133234924000111/bkd-20240930.htm)</u> |
| 10.1 | <u>[Restricted Stock Unit Agreement under the Brookdale Senior Living Inc. 2024 Omnibus Incentive Plan (the "2024 Omnibus Incentive Plan") dated as of February 12, 2026, by and between the Company and Nikolas W. Stengle.](a1q26exhibit101-rsu.htm)</u> |
| 10.2 | <u>[Form of Restricted Stock Unit Agreement under the 2024 Omnibus Incentive Plan (2026 Time-Based Form for Executive Officers other than CEO).](a1q26exhibit102-rsu.htm)</u> |
| 10.3 | <u>[Performance-Based Restricted Stock Unit Agreement under the 2024 Omnibus Incentive Plan dated as of February 12, 2026, by and between the Company and Nikolas W. Stengle.†](a1q26exhibit103-rsu.htm)</u> |
| 10.4 | <u>[Form of Restricted Stock Unit Agreement under the 2024 Omnibus Incentive Plan (2026 Performance-Based Form for Executive Officers other than CEO).†](a1q26exhibit104-rsu.htm)</u> |
| 31.1 | <u>[Certification](a1q26ex311certification.htm)[pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.](a1q26ex311certification.htm)</u> |
| 31.2 | <u>[Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.](a1q26ex312certification.htm)</u> |
| 32 | <u>[Certification pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.](a1q26exhibit32certification.htm)</u> |
| 101.SCH | Inline XBRL Taxonomy Extension Schema Document. |
| 101.CAL | Inline XBRL Taxonomy Extension Calculation Linkbase Document. |
| 101.DEF | Inline XBRL Taxonomy Extension Definition Linkbase Document. |
| 101.LAB | Inline XBRL Taxonomy Extension Label Linkbase Document. |
| 101.PRE | Inline XBRL Taxonomy Extension Presentation Linkbase Document. |
| 104 | The cover page from the Company's Quarterly Report on Form 10-Q for the quarter ended March 31, 2026, formatted in Inline XBRL (included in Exhibit 101). |

---

† Portions of this exhibit have been omitted pursuant to Item 601(b)(10)(iv) of Regulation S-K.

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**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

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| | |
|:---|:---|
| **BROOKDALE SENIOR LIVING INC.** | **BROOKDALE SENIOR LIVING INC.** |
| (Registrant) | (Registrant) |
| By: | /s/ Dawn L. Kussow |
| Name: | Dawn L. Kussow |
| Title: | Executive Vice President and Chief Financial Officer (Authorized Officer and Principal Financial Officer) |
| Date: | May 7, 2026 |

---

## Exhibit 10.1

**Exhibit 10.1**

**RESTRICTED STOCK UNIT AGREEMENT<br>UNDER THE BROOKDALE SENIOR LIVING INC.<br>2024 OMNIBUS INCENTIVE PLAN**

This Award Agreement, including the Addendum hereto (this "Agreement"), dated as of February 12, 2026 (the "Date of Grant"), is made by and between Brookdale Senior Living Inc., a Delaware corporation (the "Company"), and Nikolas W. Stengle (the "Participant"). Capitalized terms not defined herein shall have the meaning ascribed to them in the Brookdale Senior Living Inc. 2024 Omnibus Incentive Plan (as amended and/or restated from time to time, the "Plan"). Where the context permits, references to the Company shall include any successor to the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.<u>Grant of RSUs</u>. The Company hereby grants to the Participant 114,040 restricted stock units (the "RSUs") under the Plan, which shall be subject to all of the terms and conditions of this Agreement and the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.<u>Vesting</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)<u>General</u>. Subject to the provisions set forth below, the RSUs shall vest at such times (each, including as provided in subparagraphs (b) and (c), a "Vesting Date") and in the amounts set forth below, subject to the continued Service of the Participant with the Company or one of its Subsidiaries or Affiliates (or a successor to any of them) from the Date of Grant to such Vesting Date:

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| | |
|:---|:---|
| **Incremental Number of<br>RSUs Vested** | **Scheduled Vesting Date** |
| 38,012 | February 27, 2027 |
| 38,013 | February 27, 2028 |
| 38,015 | February 27, 2029 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)<u>Award Not Assumed Following Change in Control</u>. Upon the occurrence of a Change in Control, if the outstanding RSUs are not assumed, continued or substituted with an award relating to a publicly-traded security of the acquirer (or the Company) on the same terms and conditions that were applicable to the outstanding RSUs immediately prior to the Change in Control, then all outstanding RSUs immediately prior to the Change in Control shall vest and be settled upon the consummation of the Change in Control.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)<u>Following Termination of Service</u>. Except as otherwise provided in Section 2 of the Addendum, which is incorporated herein, upon termination of the Participant's Service with the Company and its Subsidiaries and Affiliates for any reason, all unvested RSUs outstanding as of the date of such termination shall automatically and without notice terminate and be forfeited and neither the Participant nor any of the Participant's successors, heirs, assigns, or personal representatives shall thereafter have any further rights or interests in such RSUs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.<u>Settlement of Restricted Stock Units</u>. As soon as practicable following each Vesting Date (but in no event later than 30 days following the Vesting Date or such earlier time specified in this Agreement), the Company shall issue to the Participant the number of Shares equal to the aggregate number of RSUs that have vested pursuant to this Agreement on such date and the Participant shall thereafter have all the rights of a stockholder of the Company with respect to such Shares. Notwithstanding anything in this Agreement to the contrary, no

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fractional shares shall vest or be issuable under this Agreement, and any such fractional shares shall be rounded down to the next whole share; *provided*, that the Administrator may, in its sole discretion, provide a cash payment in lieu of any such fractional share.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.<u>Rights as a Stockholder</u>. Section 4 of the Addendum is incorporated herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.<u>Adjustments</u>. Pursuant to Section 5 of the Plan, in the event of a Change in Capitalization as described therein, the Administrator shall make such equitable changes or adjustments, as it deems necessary or appropriate, in its discretion, to the number and kind of securities or other property (including cash) issued or issuable in respect of outstanding RSUs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.<u>Certain Changes</u>. The Administrator may accelerate the vesting dates or otherwise adjust any of the terms of the RSUs; provided that, subject to Section 5 of the Plan and Section 11(f) of the Addendum to this Agreement, no action under this Section shall adversely affect the Participant's rights hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.<u>Notices</u>. All notices and other communications under this Agreement shall be in writing and shall be given by facsimile or first class mail, certified or registered with return receipt requested, and shall be deemed to have been duly given three days after mailing or 24 hours after transmission by facsimile to the respective parties, as follows: (i) if to the Company, at Brookdale Senior Living Inc., 105 Westwood Place, Suite 400, Brentwood, TN 37027, Facsimile: (615) 564-8204, Attn: General Counsel and (ii) if to the Participant, using the contact information on file with the Company. Either party hereto may change such party's address for notices by notice duly given pursuant hereto. Notwithstanding the foregoing, the Company may, in its sole discretion, decide to deliver any notice or other communications related to the RSUs, this Agreement or current or future participation in the Plan by electronic means. The Participant hereby consents to receive such notices and other communications by electronic delivery and agrees to participate in the Plan through an online or electronic system established and maintained by the Company or a third party designated by the Company (including the Company's stock plan service provider's website).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.<u>Taxes</u>. The Participant has reviewed with the Participant's own tax advisors the Federal, state, local and foreign tax consequences of the transactions contemplated by this Agreement. The Participant is relying solely on such advisors and not on any statements or representations of the Company or any of its agents. The Participant acknowledges and agrees that the Participant is responsible for the tax consequences associated with the award and vesting of the RSUs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.<u>Withholding</u>. The provisions of Section 9 of the Addendum to this Agreement are incorporated herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.<u>Failure to Enforce Not a Waiver</u>. The failure of the Company to enforce at any time any provision of this Agreement shall in no way be construed to be a waiver of such provision or of any other provision hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.<u>Restrictive Covenants</u>. The provisions of Section 11 of the Addendum to this Agreement are incorporated herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.<u>Governing Law</u>. This Agreement shall be governed by and construed according to the laws of the State of Delaware without regard to its principles of conflict of laws. If during the Participant's Service with the Company, the Participant primarily resides or is primarily assigned to the Company or one of its Subsidiary or Affiliate location(s) in California, Colorado, Minnesota, or Washington, then for so long as the Participant primarily resides in such state or is

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primarily assigned to location(s) in such states during the Participant's Service, this Section 12 shall not apply to the covenants in Section 11 of the Addendum.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.<u>Incorporation of Plan</u>. The Plan is hereby incorporated by reference and made a part hereof, and the RSUs and this Agreement shall be subject to all terms and conditions of the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.<u>Amendments; Construction</u>. The Administrator may amend the terms of this Agreement prospectively or retroactively at any time, but no such amendment shall impair the rights of the Participant hereunder without the Participant's consent. Headings to Sections of this Agreement are intended for convenience of reference only, are not part of this Agreement and shall have no effect on the interpretation hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.<u>Survival of Terms</u>. This Agreement shall apply to and bind the Participant and the Company and their respective permitted assignees and transferees, heirs, legatees, executors, administrators and legal successors. The terms of Section 11 of the Addendum shall expressly survive the vesting and/or forfeiture of the RSUs and any expiration or termination of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.<u>Compliance with Stock Ownership and Retention Guidelines</u>. The Participant hereby agrees to comply with the Company's Stock Ownership and Retention Guidelines (as amended from time to time, the "Guidelines"), to the extent such Guidelines are applicable, or become applicable, to the Participant. The Participant further acknowledges that, if the Participant is not in compliance with such Guidelines (if applicable), the Administrator may refrain from issuing additional equity awards to the Participant and/or elect to pay the Participant's annual bonus in the form of vested or unvested Common Stock.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.<u>Agreement Not a Contract for Services</u>. Neither the Plan, the granting of the RSUs, this Agreement nor any other action taken pursuant to the Plan shall constitute or be evidence of any agreement or understanding, express or implied, that the Participant has a right to continue to provide Services as an officer, director, employee, consultant or advisor of the Company or any Subsidiary or Affiliate for any period of time or at any specific rate of compensation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18.<u>Restrictions</u>. The RSUs may not be sold, transferred, pledged, assigned or otherwise encumbered or disposed of by the Participant, and any Shares issuable with respect to the RSUs may not be sold, transferred, pledged, assigned or otherwise encumbered or disposed of until such Shares have been issued to the Participant upon vesting of the RSUs in accordance with the terms of the Plan and this Agreement. Unless the Administrator determines otherwise, upon any attempt to transfer RSUs or any rights in respect of RSUs before the lapse of such restrictions, such RSUs, and all of the rights related thereto, shall be immediately forfeited by the Participant and transferred to, and reacquired by, the Company without consideration of any kind.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.<u>Authority of the Administrator</u>. The Administrator shall have full authority to interpret and construe the terms of the Plan and this Agreement. The determination of the Administrator as to any such matter of interpretation or construction shall be final, binding and conclusive.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20.<u>Severability</u>. Should any provision of this 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 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 Agreement. Moreover, if one or more of the

------

provisions contained in this 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 provision or provisions in any other jurisdiction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21.<u>Acceptance</u>. The Participant hereby acknowledges receipt of a copy of the Plan and this Agreement. The Participant has read and understands the terms and provisions of the Plan and this Agreement, and accepts the RSUs subject to all the terms and conditions of the Plan and this Agreement. The Participant hereby agrees to accept as binding, conclusive and final all decisions or interpretations of the Administrator upon any questions arising under this Agreement. By the Participant's electronically accepting the award of the RSUs using an online or electronic system established and maintained by the Company or a third party designated by the Company (including the Company's stock plan service provider's website), the Participant agrees to be bound by the terms and conditions of the Plan and this Agreement. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which shall constitute one and the same instrument. The Participant's electronic acceptance of the award of the RSUs shall have the same validity and effect as a signature affixed to this Agreement by the Participant's hand. The Participant understands their participation in the terms of the Plan and this Agreement through acceptance of RSUs is entirely voluntary, and is not a term and/or condition of Service but is instead an award granted on a discretionary basis to align the Participant's interests with those of the Company's stockholders and is an award that the Participant is free to decline at the Participant's discretion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22.<u>Section 409A</u>. This Agreement shall be interpreted in such a manner that all provisions relating to the settlement of the RSUs are exempt from the requirements of Section 409A of the Code as "short-term deferrals" as described in Section 409A of the Code. Notwithstanding anything to the contrary in this Agreement or an accompanying election form executed by the Participant, if (i) on the date of the Participant's Separation from Service with the Company the Participant is a "specified employee" (as such term is defined under Section 1.409A-1(i) of the Treasury Regulations promulgated under Section 409A of the Code) of the Company and (ii) any payments to be provided to the Participant pursuant to this Agreement are or may become subject to the additional tax under Section 409A(a)(1)(B) of the Code, or any other taxes or penalties imposed under Section 409A of the Code if provided at the time otherwise required under this Agreement, then such payments shall be delayed until the date that is six months after the date of the Participant's separation from service from the Company, or if earlier, his or her death. Any payments delayed pursuant to this paragraph shall be made in a lump sum on the first day of the seventh month following the Participant's separation from service, or if earlier, the Participant's death. Each payment upon settlement of RSUs (and any related dividend or related dividend equivalent rights) constitutes a "separate payment" for purposes of Section 409A of the Code. Notwithstanding any other provision of this Agreement, if and to the extent that any payment under this Agreement constitutes non-qualified deferred compensation under Section 409A of the Code, and is payable upon (i) the Participant's termination of Service, then such payment shall be made or provided to the Participant only upon a "separation from service" as defined for purposes of Section 409A of the Code, or (ii) a Change in Control, then such payment shall be made or provided to the Participant only upon a "change in the ownership", a "change in effective control" or a "change in the ownership of a substantial portion of the assets" of the applicable corporation as defined for purposes of Section 409A of the Code.

*[signature page follows]*

------

IN WITNESS WHEREOF, the parties hereto have executed and delivered this Agreement as of the day and year first above written.

**BROOKDALE SENIOR LIVING INC.**

By: &nbsp;&nbsp;&nbsp;&nbsp;<u>/s/ Chad C. White&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>

Name: &nbsp;&nbsp;&nbsp;&nbsp;Chad C. White

Title: &nbsp;&nbsp;&nbsp;&nbsp;Executive Vice President, General Counsel

&nbsp;&nbsp;&nbsp;&nbsp; and Secretary

**PARTICIPANT**

<u>/s/ Nikolas W. Stengle&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>

&nbsp;&nbsp;&nbsp;&nbsp;Nikolas W. Stengle

------

**ADDENDUM TO<br>RESTRICTED STOCK UNIT AGREEMENT<br>UNDER THE BROOKDALE SENIOR LIVING INC.<br>2024 OMNIBUS INCENTIVE PLAN**

**Section 2**:

Notwithstanding Section 2(c) or anything in the Agreement to the contrary:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;In the event that the Participant's Service is terminated (other than as described in subparagraph (ii)) (A) by the Company and its Subsidiaries and Affiliates without Cause or by the Participant for Good Reason (as defined in the Employment Agreement by and between the Company and the Participant dated as of October 1, 2025) (the "<u>Employment Agreement</u>"), (B) by death, or (C) due to Disability, the RSUs subject to vesting at the next Vesting Date shall vest effective upon the date of such termination and be settled within 30 days following such termination, and any remaining outstanding and unvested RSUs shall be forfeited, effective upon the date of such termination; provided, however, that the acceleration provided by clause (C) shall not apply unless the Participant actively provided Services on at least one day in the one-year period immediately preceding such next Vesting Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;In the event that the Participant's Service is terminated (A) by the Company (or its successor) and its Subsidiaries and Affiliates without Cause on or after the effective date of a Change in Control but prior to eighteen (18) months following such Change in Control, or (B) by the Participant for Good Reason on or after the effective date of a Change in Control but prior to eighteen (18) months following such Change in Control, then any unvested RSUs outstanding upon the date of such termination shall vest effective upon the date of such termination and be settled within 30 days following such termination.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;In the event the Participant retires from the Company and its Subsidiaries and Affiliates (A) on or after attaining age sixty (60) with a minimum of five (5) years of service with the Company and its Subsidiaries and Affiliates and (B) after providing no less than six (6) months' advance written notice to the Company of the anticipated Retirement, then any unvested RSUs outstanding upon the date of such Retirement shall continue to vest (without any requirement of continued Service) effective at each applicable Vesting Date as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;&nbsp;&nbsp;for a Retirement date that occurs prior to February 12, 2027, unvested RSUs outstanding shall continue to vest on each applicable Vesting Date in an amount equal to the percentage of the number of full months employed since the Date of Grant divided by 12 (with the remaining percentage of the unvested RSUs to be forfeited upon the date of such Retirement); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;&nbsp;&nbsp;&nbsp;for a Retirement date that occurs on or after February 12, 2027, 100% of the unvested RSUs outstanding shall continue to fully vest on each applicable Vesting Date.

In the event the Participant's service with the Company and its Subsidiaries and Affiliates (or a successor to any of them) is terminated for any reason and the Participant resumes service

------

with the Company within five (5) years from the date of termination, the minimum of five (5) years of service with the Company and its Subsidiaries and Affiliates required for eligibility in clause (iii)(A) will include such service with the Company completed prior to the initial termination for purposes of determining eligibility under this clause (iii).

**Section 4:** 

The Participant shall have no voting rights with respect to RSUs outstanding on any applicable record date. Any ordinary or extraordinary cash or stock dividend that may be declared and paid on the Common Stock with a record date on or after the Date of Grant and prior to the settlement date of the RSUs shall be deposited (in the same form as was payable to the holders of Common Stock) in an account and be paid upon, and subject to, the vesting and settlement of the RSUs. For the avoidance of doubt, the Participant shall not be entitled to payment of dividends or dividend equivalents with respect to an RSU unless and until the vesting and settlement of such RSU in accordance with this Agreement, and all such dividends or dividend equivalents with respect to any RSU shall forfeit upon the forfeiture of such RSU.

**Section 9:**

Delivery of Shares is conditioned upon the Participant's making arrangements satisfactory to the Administrator regarding payment of income and employment tax withholding requirements as set forth in Section 15 of the Plan; provided, however, that the Participant may elect, without the consent of the Company, to have the Company withhold from delivery of Shares issuable upon the settlement of the RSUs such number of Shares having a Fair Market Value not exceeding the applicable taxes to be withheld and applied to the tax obligations of the Participant as determined by the Company. In making its determination, the Company may calculate such amount by taking into account applicable withholding rates not exceeding the maximum individual statutory tax rates in the Participant's applicable jurisdictions.

**Section 11**: **<u>Commitment to Avoid Detrimental Activities</u>.**

The Participant understands the Company has developed, and is continuing to develop, substantial relationships with actual and prospective officers, directors, employees, consultants, agents, customers, residents, patients, referral sources, clients, vendors, suppliers, investors, and equity and financing sources, associate and customer goodwill, and confidential and proprietary business information and trade secrets, which the Company and its Subsidiaries and Affiliates have the right to protect in order to safeguard their legitimate business interests. Any misappropriation of such relationships or goodwill, or any improper disclosure or use of the Company's and its Subsidiaries' and Affiliates' confidential and proprietary business information and trade secrets would be highly detrimental to their business interests in that serious and substantial loss of business and pecuniary damages would result therefrom. The Participant also acknowledges and recognizes that an important purpose of this Agreement is to align the interests of the Participant with those of the Company's stockholders and to ensure that the Participant does not engage in activity detrimental to the interests of the Company's stockholders if the Participant is going to be allowed the opportunity to participate in the financial rewards that result from the RSUs and their relationship to the value of equity

------

participation in the Company. In addition, the Participant acknowledges that an ancillary purpose consistent with protecting the interests of the stockholders arises with respect to the Participant because during the period of the Participant's employment with the Company or any Subsidiary or Affiliate, the Participant shall have access to the Company's Confidential Information (as defined below) and will meet and develop such relationships and goodwill. The Participant accordingly agrees to comply with the provisions of this Section 11 as a condition of receipt and retention of the RSUs provided for in this Agreement and their beneficial value. The Participant acknowledges and agrees not to contest or dispute the Company's position that the prohibition of unfair competition provided for in this Section 11 is inextricably connected to and part of the Company's governance of its internal affairs and relates directly to the interests of the Company's stockholders. Nothing contained in this Section 11 shall limit any common law or statutory obligation that the Participant may have to the Company or any Subsidiary or Affiliate. For purposes of this Section 11, the "Company" refers to the Company and any incorporated or unincorporated affiliates of the Company, including any entity which becomes the Participant's employer as a result of any reorganization or restructuring of the Company for any reason. The Company shall be entitled, in connection with its tax planning or other reasons, to terminate the Participant's employment (which termination shall not be considered a termination for any purposes of this Agreement, any employment agreement, or otherwise) in connection with an invitation from another affiliate of the Company to accept employment with such affiliate in which case the terms and conditions hereof shall apply to the Participant's employment relationship with such entity mutatis mutandis.

For purposes of this Section 11, "Competing Business" means a business (which shall include any sole proprietorship, partnership, limited partnership, limited liability partnership, limited liability company, corporation or other for-profit or not-for-profit business organization) (A) engaged in the business of owning, operating**,** or managing senior living facilities within the United States or (B) engaged in any other business that constitutes twenty percent (20%) or more of the Company's annualized consolidated revenues or contributes twenty percent (20%) or more of the Company's consolidated annualized net operating income at any time during the Participant's employment. Notwithstanding the foregoing, this Section 11 shall not prohibit the Participant from (i) being a passive owner of not more than 2% of the outstanding stock of any class of a company that is publicly traded so long as the Participant does not have any active participation in the business of such company, (ii) passively investing in private investment funds whose principal investment strategy is not directed toward investing in entities that engage in or operate in a Competing Business; or (iii) commencing employment with or providing services to either (A) a private equity or financial sponsor that owns, invests in, or operates a business that engages in a Competing Business so long as the Participant does not perform services for the entity or business that is engaged in a Competing Business or (B) a subsidiary, division, or unit of any entity that has a diversified business so long as Executive does not perform services for or in respect of the business that engages in the Competing Business so long as the Participant does not perform services for or in respect of the business that engages in the Competing Business, in each case provided that the Participant's confidentiality obligations shall continue to bind the Participant prior to and during any term of such employment or provision of services and, provided further for purposes of this clause (iii), that any such private equity or financial sponsor or diversified business does not receive at least twenty percent (20%) of its

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revenues from owning, investing in or operating a business that engages in a Competing Business.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(a)**&nbsp;&nbsp;&nbsp;&nbsp;**<u>Avoidance of Competition and Other Detrimental Acts During Engagement</u>.** While employed or otherwise engaged as an individual to provide services to the Company (as an employee, consultant, or otherwise), the Participant will comply with each of the restrictions and obligations below.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(1)**&nbsp;&nbsp;&nbsp;&nbsp;While employed with the Company, the Participant will comply at all times with the Participant's duty of loyalty to the Company as an employee or agent of the Company placed in a position of special trust and confidence. This duty shall be understood to include, but not be limited to,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(i)** &nbsp;&nbsp;&nbsp;&nbsp;an obligation not to engage or participate in the business of a Competing Business, or become employed with a Competing Business as an employee, owner, member, partner, consultant, director, or otherwise, without the express written consent of the Company,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(ii)** &nbsp;&nbsp;&nbsp;&nbsp;an obligation not to interfere with or otherwise knowingly cause harm to the Company's ongoing or prospective business relationship with a Company employee, consultant, or individual providing services as an independent contractor, or a supplier, distributor, vendor, customer, or other person or entity that does business with the Company or that the Company has a reasonable expectation of doing business with, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(iii)** &nbsp;&nbsp;&nbsp;&nbsp;an obligation to inform the Company of business opportunities that fall within the Company's line of business and not pursue them for personal gain separate from the Company without the Company's express written consent in advance, or otherwise participate in any conduct or relationship that creates a conflict of interest in violation of Company policies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(2)**&nbsp;&nbsp;&nbsp;&nbsp;The Participant will not knowingly participate in or pursue activities that harm the value of the Company's intellectual property and will honor all agreements with the Company concerning the ownership and protection of proprietary works and intellectual property.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(b)**&nbsp;&nbsp;&nbsp;&nbsp;**<u>Avoidance of Competition and Other Detrimental Acts After Engagement</u>.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(1)**&nbsp;&nbsp;&nbsp;&nbsp;**<u>Noncompete</u>.** The Participant agrees that during the period of the Participant's employment with the Company or any Subsidiary or Affiliate and for the one (1) year period immediately following the termination of such employment for any reason or for no reason (the "Non-Compete Restricted Period"), the Participant shall not directly or by assisting or directing others, either as a principal, agent, employee, employer, consultant, partner, shareholder of a closely held corporation or shareholder in excess of five percent of a publicly

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traded corporation, corporate officer or director, or in any other individual or representative capacity, engage or otherwise participate in any manner or fashion in any business that is a Competing Business (as defined herein).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(2)&nbsp;&nbsp;&nbsp;&nbsp;<u>Solicitation of Employees, Clients, Referral Sources, Vendors, Etc.</u>** The Participant agrees that during the period of the Participant's employment with the Company or any Subsidiary or Affiliate, and for the two (2) year period immediately following the date of termination of such employment for any reason (the "Non-Solicit Restricted Period"), the Participant shall not, directly or by assisting or directing others, jointly or individually, on the Participant's own behalf or on behalf of or in assistance to any individual, person or entity:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(i)**&nbsp;&nbsp;&nbsp;&nbsp;(x) solicit, or attempt to solicit, any Covered Employee (as defined below) for employment or service with any entity other than the Company or any Subsidiary or Affiliate; or (y) recruit or facilitate the hire, or attempt to recruit or facilitate the hire, of any Covered Employee or otherwise induce or encourage any Covered Employee to terminate or sever his, her, or its employment or other relationship with the Company or any Subsidiary or Affiliate or any of their successors or assigns; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(ii)**&nbsp;&nbsp;&nbsp;&nbsp;(x) solicit business from any Covered Person (as defined below) in connection with, on behalf of or for the benefit of a Competing Business; or (y) otherwise induce or encourage any Covered Person to terminate, change, or reduce his, her, or its relationship with the Company or any Subsidiary or Affiliate or any of their successors or assigns for any reason.

Notwithstanding the foregoing, a general advertisement or solicitation for employment that is not targeted and that does not have the effect of being targeted to any current or former Covered Employee or Covered Person shall not, by itself, be deemed to be a violation of the restrictions on solicitation contained in this Section 11(b)(2). For purposes of this Section 11(b)(2), "Covered Employee" shall mean any officer, director, employee, or agent who is employed by the Company or any Subsidiary or Affiliate or any of their successors or assigns or was so employed or engaged at any time during the twelve (12) months prior to the Participant's termination of employment; provided, however, that any such individual who has ceased to be employed by or engaged with the Company or any Subsidiary or Affiliate for a period of at least six (6) months shall no longer be deemed a Covered Employee. "Covered Person" shall mean any customers, residents, patients, referral sources, clients, vendors, suppliers, investors, equity or financing sources, or consultants of the Company or any Subsidiary or Affiliate or any of their successors or assigns. The restrictions contained in Section 11(b)(2) are understood to be reasonably limited by geography to those locations, and counties, where the Covered Employee and Covered Person are present and available for solicitation. However, to the extent additional geographic limitations are required to make the restrictions enforceable, they shall be deemed limited to the Territory.

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"Territory" means: (i) those states and counties in which the Company is engaged in business (or actively planning to engage in business in the near term) (including state and state-equivalents and county and county-equivalents therein) at the time the Participant's employment ends and/or about which the Participant was provided access to Confidential Information during the Look Back Period (as defined below); and, (ii) the state and county where the Participant resides.

"Look Back Period" means the last two years of the Participant's employment or such shorter period of time as the Participant was actually employed or engaged to provide personal services to the Company or its subsidiaries.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(c)&nbsp;&nbsp;&nbsp;&nbsp;<u>Disparaging Comments</u>.** The Company and the Participant agree that during the period of the Participant's employment with the Company or any Subsidiary or Affiliate, and any time thereafter, the Participant shall not make any disparaging or defamatory comments regarding the Company or any Subsidiary or Affiliate or any of their successors or assigns, and the Company and its Affiliates shall not make or issue any public statements which are disparaging or defamatory regarding the Participant, and after termination of such employment neither party shall make any comments concerning any aspect of the termination of their relationship. The obligations of the Company and the Participant under this Section 11(c) shall not apply to Protected Conduct (as defined below).

&nbsp;&nbsp;&nbsp;&nbsp;**(d)&nbsp;&nbsp;&nbsp;&nbsp;<u>Confidentiality</u>.** All books of account, records, systems, correspondence, documents, memoranda, manuals, email, electronic or magnetic recordings or data and any and all other data, or compilations of such data or information, in whatever form and any copies thereof, concerning or containing any reference to the works and business of the Company or any Subsidiary or Affiliate shall belong to the Company and shall be given up to the Company whenever the Company requires the Participant to do so, other than documents pertaining to the Participant's individual compensation (such as pay stubs and benefit plan booklets). The Participant agrees that the Participant shall not at any time during the term of the Participant's employment with the Company or any Subsidiary or Affiliate, or at any time thereafter, without the Company's prior written consent, disclose to any individual, person or entity any Confidential Information, nor will the Participant use, store, transmit, upload, copy, or download any Confidential Information, except as necessary in the performance of their job duties for the Company.

"Confidential Information" means any item or compilation of information or data, in whatever form (tangible or intangible), related to the Company's business that the Participant acquires or gains access to in the course of their employment with the Company that the Company has not authorized public disclosure of, and that is not readily available to the public or persons outside the Company through proper means. By way of example and not limitation, Confidential Information is understood to include: (1) any financing strategies and practices, pricing strategies, structures and methods, underlying pricing-related variables such as costs, volume discounting options, and profit margins; training and operational procedures, advertising, marketing, and sales information or methodologies or financial information, business forecasts and expansion plans; (2) information relating to the Company's or any Subsidiary's or Affiliate's or any of their customers', referral sources' or clients' practices, businesses, procedures, systems,

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plans or policies, client lists, or prospective client lists; (3) information relating to residents or patients and their contract terms; and (4) associate/personnel data, including contact information. Confidential Information shall be understood to include any and all Company trade secrets (as defined under applicable state or federal law), but an item need not be a trade secret to qualify as Confidential Information. An item of Confidential Information will ordinarily constitute a trade secret under state or federal law if (a) it derives independent economic value, actual or potential, from not being generally known to, and not being readily ascertainable by proper means by, other persons who can obtain economic value from its disclosure or use, and (b) it is the subject of efforts that are reasonable under the circumstances (or under federal law, using reasonable measures) to maintain its secrecy. Something is not acquired through proper means if acquired through theft, bribery, misrepresentation, breach or inducement of a breach of a duty to maintain secrecy by contract or otherwise, or espionage through electronic or other means. For purpose of clarity, it shall still be a violation of this Agreement for a non-management employee to wrongfully compete by sharing Confidential Information, which was obtained through the course of employment with the Company, with a competitor about other employees' compensation and benefits for purposes of assisting such competitor in soliciting Company employees.

The Participant hereby confirms that all Confidential Information constitutes the Company's exclusive property, and that all of the restrictions on the Participant's activities contained in this Agreement and such other nondisclosure policies of the Company are required for the Company's reasonable protection. Confidential Information shall not include any information that has otherwise been disclosed to the public not in violation of this Agreement. This confidentiality provision shall survive the termination of this Agreement and shall not be limited by any other confidentiality agreements entered into with the Company or any Subsidiary or Affiliate. Notwithstanding the foregoing, nothing in this Agreement (or any other Company policy or contract to which the Participant is or was subject) shall be construed to prohibit the Participant from communicating with any federal, state or local governmental agency or commission with oversight of the Company without notice to the Company, as provided for, protected under or warranted by applicable law. Further, the restrictions provided for in this Section 11(d) shall not be construed to prohibit the use of general knowledge and experience customarily relied upon in the Participant's trade or profession that is not specific to the particular business matters of the Company (such as its business transactions, customers, residents, clients, or employees).

With respect to any Confidential Information that constitutes a "trade secret" pursuant to applicable law, the restrictions described above shall remain in force for so long as the particular information remains a trade secret or for the two (2) year period immediately following termination of the Participant's employment for any reason, whichever is longer. With respect to any Confidential Information that does not constitute a "trade secret" pursuant to applicable law, the restrictions described above shall remain in force during the Participant's employment and for the two (2) year period immediately following termination of such employment for any reason. Nothing in the foregoing shall be construed to permit the Participant to recreate records of Confidential Information from memory or retain copies of Confidential Information in any form after their employment or engagement with the Company ends. The Participant understands that they should have no records of this kind in their possession or control with which to refresh

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their memory after the Participant's employment with the Company or any Subsidiary or Affiliate ends.

Notwithstanding anything to herein to the contrary, the Participant shall be permitted to use and disclose Confidential Information (solely as it relates to his compensation, benefits, and equity ownership) to (A) the Participant's immediate family members, (B) the Participant's attorneys, financial advisors, accountants and other professional advisors who are bound by obligations of confidentiality, or (C) any other person to which such use or disclosure is necessary (w) to effect compliance with applicable law, (x) to pursue the Participant's rights or claims under this Agreement, or (z) to pursue the Participant's rights or claims to indemnification or under directors' and officers' liability insurance policies.

The Participant agrees that the Participant shall promptly disclose to the Company in writing all information and inventions generated, conceived or first reduced to practice by the Participant alone or in conjunction with others, during or after working hours, while in the employ of the Company or any Subsidiary or Affiliate (all of which is collectively referred to in this Agreement as "Proprietary Information"); provided, however, that such Proprietary Information shall not include (a) any information that has otherwise been disclosed to the public not in violation of this Agreement and (b) general business knowledge and work skills of the Participant, even if developed or improved by the Participant while in the employ of the Company or any Subsidiary of Affiliate. All such Proprietary Information shall be the exclusive property of the Company and is hereby assigned by the Participant to the Company. The Participant's obligation relative to the disclosure to the Company of such Proprietary Information anticipated in this Section 11(d) shall continue beyond the Participant's termination of employment and the Participant shall, at the Company's expense, give the Company all assistance it reasonably requires to perfect, protect and use its right to the Proprietary Information.

DTSA Notice: The Defend Trade Secrets Act of 2016 (DTSA) provides that no individual will be held criminally or civilly liable under Federal or State trade secret law for the disclosure of a trade secret that: (i) is made in confidence to a Federal, State, or local government official, either directly or indirectly, or to an attorney; and made solely for the purpose of reporting or investigating a suspected violation of law; or, (ii) is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal so that it is not made public. It also provides that an individual who pursues a lawsuit for retaliation by an employer for reporting a suspected violation of the law may disclose the trade secret to the attorney of the individual and use the trade secret information in the court proceeding if the individual files any document containing the trade secret under seal and does not disclose the trade secret except as permitted by court order.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(e)&nbsp;&nbsp;&nbsp;&nbsp;<u>Enforcement</u>.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(1)**&nbsp;&nbsp;&nbsp;&nbsp;The Participant acknowledges that compliance with all provisions, covenants and agreements set forth in this Agreement, and the duration, terms and geographical area thereof, are reasonable and necessary to protect the legitimate business interests of the Company and its Subsidiaries and Affiliates. 

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(2)**&nbsp;&nbsp;&nbsp;&nbsp;The Participant acknowledges that a breach of the Participant's obligations under this Section 11 may result in irreparable and continuing damage to the Company and/or its Subsidiaries and Affiliates for which there is no adequate remedy at law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(3)**&nbsp;&nbsp;&nbsp;&nbsp;The Participant acknowledges that the Participant's education, experience and/or abilities are such that the enforcement of the restrictive covenants in this Agreement will not prevent the Participant from earning a living and will not cause any undue hardship upon the Participant. Further, the Participant acknowledges that the equity they receive under this Agreement is mutually agreed upon consideration that is adequate and sufficient to make the covenants in Section 11 immediately binding and enforceable against them.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(4)**&nbsp;&nbsp;&nbsp;&nbsp;In the event of the violation by the Participant of any of the covenants contained in Section 11 the terms of each such covenant so violated shall be automatically extended from the date on which the Participant permanently ceases such violation for a period equal to the period in which the Participant was in breach of the covenant or for a period of twelve (12) months from the date of the entry by a court of competent jurisdiction of an order or judgment enforcing such covenant(s), whichever period is later; provided, however, this extension of time shall be capped, except as to violations of Section 11(d), so that the extension of time does not exceed two years from the date the Participant's employment ended, and if this extension would make the restriction unenforceable under applicable law it will not be applied.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(5)**&nbsp;&nbsp;&nbsp;&nbsp;Each of the restrictive covenants contained in this Agreement is independent of any other contractual obligations of this Agreement or otherwise owed by the Participant to the Company and/or its Subsidiaries and Affiliates. Further, should the Participant be subject to an agreement with the Company containing confidentiality, non-solicitation, and/or noncompetition provisions, the restrictive covenants in this Agreement shall supplement (rather than supersede) the covenants in such other agreements ("Other Covenants"), and the Other Covenants shall remain in full force and effect. In addition, the Other Covenants in the Employment Agreement shall control over the covenants in this Agreement, and the restrictive covenants in this Agreement shall be construed to match the Other Covenants in the Employment Agreement. The existence of any claim or cause of action by the Participant against the Company and/or its Subsidiaries or Affiliates, whether based on this Agreement or otherwise, shall not create a defense to the enforcement by the Company and/or its Subsidiaries and Affiliates of any restrictive covenant contained in this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(6)**&nbsp;&nbsp;&nbsp;&nbsp;Unless otherwise stated in Section 11(h), the Participant received a copy of this Agreement at least fourteen (14) days in advance of the date the Participant was expected to sign it. The Participant understands that the Company has advised them to use this time to consult with an attorney regarding this Agreement and that the Participant has a right to do so.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(7)**&nbsp;&nbsp;&nbsp;&nbsp;<u>Protected Conduct</u>. Nothing in this Agreement prohibits the Participant from: (i) opposing an event or conduct that the Participant reasonably believes is a violation of law, including criminal conduct, discrimination, harassment, retaliation, a safety or health violation, or other unlawful employment practices (whether in the workplace or at a work-related

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event); or (ii) disclosing sexual assault or sexual harassment (in the workplace, at work-related events, between employees, or between an employer and an employee or otherwise); or (iii) reporting such an event or conduct to the Participant's attorney, law enforcement, or the relevant law-enforcement agency (such as the Securities and Exchange Commission, Department of Labor, Occupational Safety and Health Administration, Equal Employment Opportunity Commission, or any equivalent state or local government agencies); or (iv) making any truthful statements or disclosures required by law or otherwise cooperating in an investigation conducted by any government agency (collectively referred to as "Protected Conduct"). Further, nothing requires notice to or approval from the Company before engaging in such Protected Conduct.

&nbsp;&nbsp;&nbsp;&nbsp;**(f)&nbsp;&nbsp;&nbsp;&nbsp;<u>Remedies</u>.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(1)**&nbsp;&nbsp;&nbsp;&nbsp;It is intended that, in view of the nature of the Company's and its Subsidiaries' and Affiliates' business, the restrictions contained in this Agreement are considered reasonable and necessary to protect the Company's and its Subsidiaries' and Affiliates' legitimate business interests and that any violation of these restrictions would result in irreparable injury to the Company and/or its Subsidiaries and Affiliates. In the event of a breach (a "Covenant Breach") or threatened breach by the Participant of any provision contained herein, the Company and its Subsidiaries and Affiliates may seek a temporary restraining order and injunctive relief without the posting of a bond. Nothing contained herein shall be construed as prohibiting the Company or its Subsidiaries or Affiliates from pursuing any other legal or equitable remedies available to it or them for any breach or threatened breach of these provisions, including, without limitation, recoupment and other remedies specified in the Agreement. In the event of a dispute regarding, arising out of, or in connection with the breach, enforcement or interpretation of this Agreement, including, without limitation, any action seeking injunctive relief, the prevailing party (as determined in a final, non-appealable order by a court of competent jurisdiction) may recover its reasonable attorneys' fees, costs, and expenses from the other party, to the fullest extent permitted by law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(2)**&nbsp;&nbsp;&nbsp;&nbsp;In the event of a Covenant Breach, the Company shall have the authority to (i) cancel all outstanding RSUs, whether vested or unvested; (ii) cancel all Shares beneficially owned by the Participant that were issued in settlement of RSUs within 12 months on or prior, or at any time after, the date of the Participant's termination of employment ("Cancellable Shares"); and (iii) recoup from the Participant any proceeds from the Participant's sale, transfer or other disposition of Cancellable Shares; provided, however, that in the case of a Covenant Breach with respect to Section 11(b)(1) of this Addendum, the Company may not exercise such remedy unless the Participant shall not have fully corrected such circumstances giving rise to the Covenant Breach under Section 11(b)(1) within thirty (30) days following written notification from the Company. The Company is hereby authorized by the Participant, as the Participant's attorney-in-fact, to execute all documents and undertake any required action on behalf of the Participant to transfer any Cancellable Shares back to the Company, after which the Participant shall not have any right, title, or interest of any kind to the Cancellable Shares. The Participant acknowledges and agrees that the Company has no obligation of any kind to the Participant with respect to the cancellation of RSUs or the Cancellable Shares, or the recoupment of proceeds from the disposition of Cancellable Shares, pursuant to this Section, including, but not limited to,

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reimbursement for any taxes previously paid by the Participant with respect to Cancellable Shares. This remedy shall be in addition to all other remedies, including those set forth in this Agreement and any other agreements between the parties. If the Participant resides in California, for so long as the Participant resides in California, this subsection (f)(2) shall not apply.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(g)&nbsp;&nbsp;&nbsp;&nbsp;<u>Company Intellectual Property</u>.** The Participant recognizes that all Works conceived, created, or reduced to practice by the Participant, alone or jointly with others, during the Participant's employment related to the business of owning, operating, or managing senior living facilities or providing private duty healthcare or other services to patients or customers shall to the fullest extent permissible by law be considered the Company's sole and exclusive property and "works made for hire" as defined in the U.S. Copyright Laws for purposes of United States law and the law of any other country adhering to the "works made for hire" or similar notion or doctrine, and will be considered the Company's property from the moment of creation or conception forward for all purposes without the need for any further action or agreement by the Participant or the Company. If any such Works or portions thereof shall not be legally qualified as a works made for hire in the United States or elsewhere, or shall subsequently be held to not be a work made for hire or not the exclusive property of the Company, the Participant hereby assigns to the Company all of the Participant's rights, title and interest, past, present, and future, to such Works. The Participant will not engage in any unauthorized publication or use of such Company Works, nor will the Participant use same to compete with or otherwise cause damage to the business interests of the Company. "Works" mean original works of authorship, including, but not limited to: literary works (including all written material), mask works, computer programs, formulas, tests, notes, data compilations, databases, artistic and graphic works (including designs, graphs, drawings, blueprints, and other works), recordings, models, photographs, slides, motion pictures, and audio visual works; whether copyrightable or not, and regardless of the form or manner in which documented or recorded.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(h)&nbsp;&nbsp;&nbsp;&nbsp;<u>State-Specific Modifications</u>.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(1)&nbsp;&nbsp;&nbsp;&nbsp;Alabama Addendum.** If a court of competent jurisdiction deems that Alabama law applies, then: (i) the definition of "Non-Solicit Restricted Period" shall be modified to include the period of the Participant's employment with the Company or any Subsidiary or Affiliate, and the eighteen (18) month period immediately following the date of termination of such employment for any reason; and (ii) the definition of "Covered Employee" shall be modified to be further limited to those employees who are uniquely essential to the management, organization, or service of the business (such as an employee involved in management or significant customer sales or servicing).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(2) &nbsp;&nbsp;&nbsp;&nbsp;California Addendum.** Notwithstanding anything in the Agreement or the Addendum to the contrary, while the Participant resides or is primarily assigned to work in California during their employment by the Company or its Subsidiaries or Affiliates, then for so long as the Participant resides or is primarily assigned to work in California:

The Governing Law clause in Section 12 shall not be applied to deprive the Participant of the protections or benefits of California law, and nothing in this Agreement shall require

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the Participant to litigate a claim relating to this Section 11 outside of California. Section 11(b)(1) and (2) shall not apply after the Participant's employment with the Company (or its Subsidiary or Affiliate) ends. However, any conduct relating to the solicitation of the Company's residents, patients, referral sources, clients, vendors, suppliers, investors, equity or financing sources, consultants, or employees that involves the misappropriation of the Company's trade secret information, such as its protected customer information, will remain prohibited conduct at all times, and nothing in this Agreement shall be construed to limit or eliminate any rights or remedies the Company would have against the Participant under trade secret law, unfair competition law, or other laws applicable in California absent this Agreement. In addition to the other forms of Protected Conduct, nothing in the Agreement shall be construed to prohibit the Participant from disclosing information about unlawful acts in the workplace, such as harassment or discrimination or any other conduct that the Participant has reason to believe is unlawful.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(3)&nbsp;&nbsp;&nbsp;&nbsp;Colorado Addendum.** Notwithstanding anything in the Agreement or the Addendum to the contrary, while the Participant resides or is primarily assigned to work in Colorado during their employment by the Company or its Subsidiaries or Affiliates, then for so long as the Participant resides or is primarily assigned to work in Colorado:

The Governing Law clause in Section 12 shall not be applied to deprive the Participant of the protections or benefits of Colorado law, and nothing in this Agreement shall require the Participant to litigate a claim relating to this Section 11 outside of Colorado. The non-competition covenant in Section 11(b)(1) and the Covered Person non-solicitation in Section 11(b)(2)(ii) will not be enforceable against the Participant unless the Participant's earnings from the Company, when annualized, exceed the equivalent of $127,091 per year or the earnings threshold in effect as adjusted annually by the Colorado Division of Labor Standards and Statistics in the Department of Labor and Employment. The definition of "Covered Person" shall be modified to cover only those customers, residents, patients, referral sources, clients, vendors, suppliers, investors, equity or financing sources, or consultants with respect to which the Participant would have been provided trade secret information during the last two years of the Participant's employment with the Company. The Participant stipulates that the non-competition and covered person non-solicitation obligations in Sections 11(a), 11(b)(1), and 11(b)(2)(ii) are reasonable and necessary for the protection of trade secrets within the meaning § 8-2-113(2)(b) (the "Colorado Noncompete Act"). The Participant acknowledges that they received notice of the covenant not to compete and its terms before the Participant accepted an offer of employment, or, if a current employee at the time the Participant enters into this Agreement, at least fourteen (14) days before the earlier of the effective date of the Agreement or the effective date of any additional compensation or change in the terms or conditions of employment that provides consideration for the covenant not to compete. If a current employee at the time the Participant receives this Agreement, under no circumstances will the obligations in Sections 11(b) become effective until fourteen (14) days have passed since the Participant received this Agreement. The Confidential Information restrictions in this Agreement do not prohibit disclosure of information that arises from the worker's general training, knowledge, skill, or experience, whether gained

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on the job or otherwise, information that is readily ascertainable to the public, or information that a worker otherwise has a right to disclose as legally protected conduct. Nothing in this Agreement or Company policy limits or prevents a worker from disclosing information about workplace health and safety practices or hazards. Further, in addition to the other forms of Protected Conduct, nothing in the Agreement shall be construed to prohibit the Participant from disclosing or discussing (either orally or in writing) information about unlawful acts in the workplace, such as any alleged discriminatory or unfair employment practice.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(4)&nbsp;&nbsp;&nbsp;&nbsp;Georgia Addendum.** If a court of competent jurisdiction deems that Georgia law applies, then: (a) the definition of "Confidential Information" will be understood to exclude information voluntarily disclosed to the public by the Company (excluding unauthorized disclosures by the Participant or others), information that is the result of independent development by others, and information that is otherwise available in the public domain through lawful means. Nothing in this Agreement, including the definition of Confidential Information, limits or alters the definition of what constitutes a trade secret under any federal or state law designed to protect trade secrets; and (b) nothing in the covered person non-solicitation obligations in Section 11(b)(2)(ii) shall restrict the Participant from accepting business from a Covered Person so long as the Participant did not solicit, assist in soliciting, facilitate the solicitation of, provide, or offer to provide services to the Covered Person (regardless of who first initiated contact) or use Confidential Information to encourage or induce the Covered Person to withdraw, curtail, or cancel its business with the Company or in any other manner modify or fail to enter into any actual or potential business relationship with the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(5)&nbsp;&nbsp;&nbsp;&nbsp;Idaho Addendum.** If a court of competent jurisdiction deems that Idaho law applies, then the definition of "Non-Compete Restricted Period" shall be modified to include the twelve (12) month period immediately following the date of termination of the Participant's employment with the Company (or any Subsidiary or Affiliate) for any reason.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(6)&nbsp;&nbsp;&nbsp;&nbsp;Illinois Addendum.** If a court of competent jurisdiction deems that Illinois law applies, then: (i) the Participant acknowledges that the equity they receive under this Agreement is mutually agreed upon consideration that is adequate and sufficient to make the covenants in Section 11 immediately binding and enforceable against them; (ii) the non-competition restrictions in Section 11(b)(1) shall not apply if the Participant earns equal to or less than $75,000 annually ("Non-Competition Earnings Threshold") (with the Non-Competition Earnings Threshold increasing by $5,000 every five years from January 1, 2027 through January 1, 2037); (iii) the Covered Person non-solicit obligations and employee non-solicit obligations in Section 11(b)(2) shall not apply if the Participant earns equal or less than $45,000 annually ("Non-Solicit Earnings Threshold") (with the Non-Solicit Earnings Threshold increasing by $2,500 every five years from January 1, 2027 through January 1, 2037). The Participant further agrees that if, at the time the Participant signs the Agreement, the Participant's earnings do not meet the Non-Competition Earnings Threshold and/or the Non-Solicit Earnings Threshold, then the non-competition provision contained in Section 11(b)(1), will automatically become enforceable against the Participant if and when the Participant begins earning an amount equal to or greater than the Non-Competition Earnings Threshold, and the Covered Person non-solicit

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obligations and employee non-solicit obligations in Section 11(b)(2) will automatically become enforceable against the Participant if and when the Participant begins earning an amount equal to or greater than the Non-Solicit Earnings Threshold; and (iv) the last sentence of Section 11(f)(1) relating to attorneys' fees shall be replaced with the following language: "In the event that any action is filed to enforce the terms and conditions of Section 11 of this Agreement, the prevailing party in the action will recover from the non-prevailing party, in addition to any other sum that either party may be called upon to pay, a reasonable sum for the prevailing party's attorney's fees and costs.."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(7)&nbsp;&nbsp;&nbsp;&nbsp;Indiana Addendum.** If a court of competent jurisdiction deems that Indiana law applies, then: the definition of "Covered Employee" shall be modified to be further limited to employees who have access to or possess any Confidential Information that would give a competitor an unfair advantage.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(8)&nbsp;&nbsp;&nbsp;&nbsp;Louisiana Addendum.** If a court of competent jurisdiction deems that Louisiana law applies, then: (a) the meaning of the Participant's "Territory" shall be understood to include the parishes (and equivalents) in the following list so long as the Company continues to carry on business therein: Acadia, Allen, Avoyelles, Beauregard, Bienville, Bossier, Caddo, Calcasieu, Cameron, Catahoula, Desoto, Evangeline, Grant, Iberia, Jefferson Davis, Jefferson, Lafayette, LaSalle, Natchitoches, Orleans, Rapides, Red River, St. Charles, St. John the Baptist, St. Landry, St. Martin, St. Tammany, Tangipahoa, Vermillion, Vernon, Washington, Webster; and (b) the Participant's Covered Person non-solicit obligations (as well as their non-compete obligations) shall be limited to the parishes and counties (or their equivalents) from the foregoing list that fall within the Participant's Territory. The Participant agrees that the foregoing provides the Participant with adequate notice of the geographic scope of the restrictions contained in the Agreement by name of specific parish or parishes (and equivalents), municipality or municipalities, and/or parts thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(9)&nbsp;&nbsp;&nbsp;&nbsp;Maine Addendum.** If a court of competent jurisdiction deems that Maine law applies, then: (i) the Participant acknowledges that if the Participant is being initially hired by the Company (or its Subsidiary or Affiliate) that the Participant was notified a noncompete agreement would be required prior to their receiving a formal offer of employment from the Company (or its Subsidiary or Affiliate) and the Participant received a copy of the Agreement at least three business days before they were required to sign the Agreement; (ii) Section 11(b)(1) will not take effect (to restrict the Participant post-employment) until one year of employment or a period of six months from the date the agreement is signed, whichever is later; and (iii) Section 11(b)(1) shall not apply if the Participant earns at or below 400% of the federal poverty level.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(10)&nbsp;&nbsp;&nbsp;&nbsp;Massachusetts Addendum.** If a court of competent jurisdiction deems that Massachusetts law applies, then: (i) the Participant acknowledges that the opportunity to receive equity under this Agreement is mutually agreed upon consideration that is adequate and sufficient to make the covenants in Section 11(b)(1) to be immediately binding and enforceable against them; (ii) the definition of "Non-Compete Restricted Period" shall be modified to include the twelve (12) month period immediately following the date of termination of the Participant's employment with the Company (or any Subsidiary or Affiliate); however, if the Participant

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breaches their fiduciary duty to the Company (or any Subsidiary or Affiliate) and/or has unlawfully taken, physically or electronically, any Company records, then the Non-Compete Restricted Period shall be extended to a period of two (2) years from the cessation of employment with the Company or any Subsidiary or Affiliate; (iii) the non-compete in Section 11(b)(1) shall only apply post-employment if the Participant's employment ends voluntarily or involuntarily for cause. The Participant understands that for the limited purposes of the application of the non-competition restriction in Section 11(b)(1) of the Agreement, "cause" to terminate the Participant's employment exists if the Participant has: (A) materially breached any obligations under any applicable employment, confidentiality, nonsolicitation, invention assignment, or noncompetition agreement with the Company; (B) been convicted of or entered a plea of guilty or nolo contendere to, or admission to facts sufficient for a finding of guilt for, any crime constituting a felony or any misdemeanor involving fraud, dishonesty and/or moral turpitude; (C) neglected, refused, or failed to discharge their duties (other than due to physical or mental illness) commensurate with their title and function, or their failure to comply with a lawful direction of the Company; (D) breached their duty of loyalty or fiduciary duty to the Company; (E) violated the Company's policy or policies; (F) engaged in unlawful discrimination or harassment; (G) engaged in any other willful misconduct which is materially injurious to the financial condition or business reputation of, or is otherwise materially injurious to, the Company; and/or (H) engaged in any other act that is accepted as cause for termination under the common law of the Commonwealth of Massachusetts. Nothing in this herein shall be construed to eliminate or modify the "at-will" nature of the parties' relationship; (iv) the Participant acknowledges that they have been advised of their right to consult with an attorney about this Agreement and has been given an opportunity to do so; (v) the Participant acknowledges that if they are being initially hired by the Company that they received a copy of this Agreement with their first formal offer of employment from the Company or at least ten (10) business days before commencement of the Participant's employment by the Company, whichever came first; and if the Participant was already employed by the Company at the time of signing this Agreement, that the Participant was provided a copy hereof at least ten (10) business days before the effective date of this Agreement. If a current employee at the time the Participant receives this Agreement, under no circumstances will the obligations in Sections 11(b) become effective until ten (10) business days have passed since the Participant received this Agreement; (vi) the tolling language in Section 11(e)(4) shall only apply to any breach of Section 11(b)(2) (*i.e.*, the tolling language shall not apply to Section 11(b)(1)); and (vii) any dispute relating to or arising out of Section 11 shall be exclusively finally resolved by a state or federal court located in the county where the Participant resides or the business litigation session of the superior court in Suffolk County, Massachusetts and the parties to this Agreement hereby consent to personal jurisdiction therein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(11)&nbsp;&nbsp;&nbsp;&nbsp;Minnesota Addendum.** Notwithstanding anything in the Agreement or the Addendum to the contrary, while the Participant resides or is primarily assigned to work in Minnesota during their employment by the Company or its Subsidiaries or Affiliates, then for so long as the Participant resides or is primarily assigned to work in Minnesota: The Governing Law clause in Section 12 shall not be applied to deprive the Participant of the protections or benefits of Minnesota law, and nothing in this Agreement shall require the Participant to litigate a claim relating to Section 11 outside of Minnesota. In addition, the non-compete in Section

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11(b)(1) shall not apply after the Participant's employment with the Company (or its Subsidiary or Affiliate) ends.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(12)&nbsp;&nbsp;&nbsp;&nbsp;Missouri Addendum.** If a court of competent jurisdiction deems that Missouri law applies, then: the definition of "Covered Employee" will be modified to exclude from its definition any employee who provides only secretarial or clerical services.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(13)&nbsp;&nbsp;&nbsp;&nbsp;Nebraska Addendum.** If a court of competent jurisdiction deems that Nebraska law applies, then: (a) the definition of "Covered Person" shall be further limited to those Covered Persons with which the Participant, alone or in combination with others, handled, serviced, or solicited at any time during the Look Back Period; and (b) the non-compete in Section 11(b)(1) shall not apply after the Participant's employment with the Company (or its Subsidiary or Affiliate) ends.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(14)&nbsp;&nbsp;&nbsp;&nbsp;Nevada Addendum.** If a court of competent jurisdiction deems that Nevada law applies, then: (i) the Participant acknowledges that the equity they receive under this Agreement is mutually agreed upon consideration that is valuable and sufficient to make the covenants in Section 11(b)(1) to be immediately binding and enforceable against them; (ii) the non-competition in Section 11(b)(1) and the Covered Person non-solicit obligations in Section 11(b)(2)(ii) do not preclude the Participant from providing services to any former customer, resident, patient, referral source, client, vendor, supplier, investor, equity or financing source, or consultant of the Company if: (A) the Participant did not solicit the former customer, resident, patient, referral source, client, vendor, supplier, investor, equity or financing source, or consultant; (B) the customer, resident, patient, referral source, client, vendor, supplier, investor, equity or financing source, or consultant voluntarily chose to leave and seek services from the Participant; and (C) the Participant is otherwise complying with the limitations in Section 11 of this Agreement as to time, geographical area, and scope of activity to be restrained; and (iii) if the Participant's employment with the Company (or its Subsidiary or Affiliate) is terminated as a result of a reduction in force, reorganization, or similar restructuring of the Company (or its Subsidiary or Affiliate), the noncompetition covenant in Section 11(b)(1) will only be enforceable during the period in which the Company is paying the Participant's salary, benefits, or equivalent compensation, including without limitation, severance pay, if it elects to make such a payment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(15)&nbsp;&nbsp;&nbsp;&nbsp;New Hampshire Addendum.** If a court of competent jurisdiction deems that New Hampshire law applies, then the Participant acknowledges that the Participant was given a copy of this Agreement prior to a change in job classification or acceptance of an offer of employment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(16)&nbsp;&nbsp;&nbsp;&nbsp;New York Addendum.** If a court of competent jurisdiction deems that New York law applies, then: "Covered Person" shall be modified to exclude from its definition any customers, residents, patients, referral sources, clients, vendors, suppliers, investors, equity or financing sources, or consultants of the Company or any Subsidiary or Affiliate which entered into a business relationship with the Company (or its Subsidiary or Affiliate) as a result of the Participant's independent contact and business development efforts with the customer prior to

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and independent from the Participant's employment with the Company (or its Subsidiary or Affiliate). However, the Participant agrees that after a period of two years from the start of their employment with the Company (or its Subsidiary or Affiliate), the Company (or its Subsidiary or Affiliate) will have invested sufficient time, financial support and effort in developing and serving any such customers, residents, patients, referral sources, clients, vendors, suppliers, investors, equity or financing sources, or consultants, to support the application of the covered person non-solicit obligations. Accordingly, two years following the start of the Participant's employment with the Company (or its Subsidiary or Affiliate), this modification shall not apply.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(17)&nbsp;&nbsp;&nbsp;&nbsp;North Carolina Addendum.** If a court of competent jurisdiction deems that North Carolina law applies, then: the Look Back Period shall be calculated looking back one year from the date the employment ends or two years from the date of enforcement and not from the date employment ends, whichever provides the Company the greatest protection and is enforceable under applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(18)&nbsp;&nbsp;&nbsp;&nbsp;Oklahoma Addendum.** If a court of competent jurisdiction deems that Oklahoma law applies, then: (i) the non-competition restrictions in Section 11(b)(1) shall not apply after the Participant's employment with the Company (or its Subsidiary or Affiliate) ends; and (ii) the Covered Person non-solicit obligations shall all be amended to provide that notwithstanding anything in it to the contrary, the Participant shall be permitted to engage in the same business as that conducted by the Company or in a similar business as long as the Participant does not directly solicit the sale of goods, services or a combination of goods and services from the established customers, residents or patients of the Company or its Subsidiary or Affiliate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(19)&nbsp;&nbsp;&nbsp;&nbsp;Oregon Addendum.** If a court of competent jurisdiction deems that Oregon law applies, then: (i) the definition of "Non-Compete Restricted Period" shall be modified to include the twelve (12) month period immediately following the date of termination of the Participant's employment with the Company or any Subsidiary or Affiliate for any reason; and (ii) unless the Company chooses to compensate the Participant as allowed under the Oregon Noncompete Act (Or. Rev. Stat. § 653 et seq.), the restrictions in Section 11(b)(1) shall only apply to the Participant if: (A) they are engaged in administrative, executive or professional work and perform predominantly intellectual, managerial, or creative tasks, exercise discretion and independent judgment and earn a salary and am paid on a salary basis; (B) the Company has a "protectable interest" (meaning, access to trade secrets or competitively sensitive confidential business or professional information that otherwise would not qualify as a trade secret, including product development plans, product launch plans, marketing strategy or sales plans); and (C) the total amount of the Participant's annual gross salary and commission, calculated on an annual basis, at the time of my termination, exceeds $100,533 (or the earnings threshold in effect based on annual adjustment for inflation pursuant to the Consumer Price Index for All Urban Consumers, West Region (All Items), as published by the Bureau of Labor Statistics of the United States Department of Labor immediately preceding the calendar year of the Participant's termination). In addition, if the Participant is a new employee, the Participant acknowledges that they were notified in a written offer of employment received two weeks before the

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commencement of employment that a noncompetition agreement was a condition of employment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(20)&nbsp;&nbsp;&nbsp;&nbsp;Utah Addendum.** If a court of competent jurisdiction deems that Utah law applies, the definition of "Non-Compete Restricted Period" shall be modified to include the twelve (12) month period immediately following the date of termination of the Participant's employment with the Company (or any Subsidiary or Affiliate) for any reason.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(21)&nbsp;&nbsp;&nbsp;&nbsp;Virginia Addendum.** If a court of competent jurisdiction deems that Virginia law applies, then: (i) the parties agree that the non-competition and non-solicitation obligations are reasonably limited in nature and do not prohibit employment with a competing business in a non-competitive position; and (ii) if the Participant resides in Virginia and their average weekly earnings calculated as provided for under Code of Virginia § 40.1-28.7:7 (the "Virginia Act"), are less than the average weekly wage of the Commonwealth as determined pursuant to subsection B of § 65.2-500 or the Participant otherwise qualifies as a "low-wage employee" under the Virginia Act then the non-competition obligations in Section 11(b)(1) shall not apply to the Participant and nothing that constitutes a "covenant not to compete" as defined by the Virginia Act shall restrict the Participant from providing a service to a Covered Person if the Participant does not initiate contact with or solicit the Covered Person. The Participant shall not be considered a "low-wage employee" if the Participant's earnings are derived, in whole or in predominant part, from sales commissions, incentives, or bonuses paid to the employee by the Company (or its Subsidiary or Affiliate).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(22)&nbsp;&nbsp;&nbsp;&nbsp;Washington Addendum.** Notwithstanding anything in the Agreement or the Addendum to the contrary, while the Participant resides or is primarily assigned to work in Washington during their employment by the Company or its Subsidiaries or Affiliates, then for so long as the Participant resides or is primarily assigned to work in Washington:

The Governing Law clause in Section 12 shall not be applied to deprive the Participant of the protections or benefits of the Washington Noncompete Act (Rev. Code of Wash. (RCW) §§ 49.62.005 - 900) (the "Washington Act") and nothing in this Agreement shall require the Participant to litigate a claim relating to this Section 11 outside of Washington. The definition of the "Non-Solicit Restricted Period" is modified to include a period of eighteen (18) months immediately following the date of the Participant's termination from the Company (or its Subsidiary or Affiliate). Unless or until the Participant's earnings from the Company (or its Subsidiary or Affiliate) over the prior year (or the portion thereof for which the Participant was employed), when annualized, exceed the equivalent of $123,395 per year or the then inflation-adjusted equivalent in accordance with the requirements of the Washington Act: (i) Section 11(b)(2) of this Addendum is modified to only prohibit solicitation by the Participant (A) of any Covered Employee of the Company to leave employment with the Company, and (B) of any Covered Person to cease or reduce the extent to which it is doing business with the Company; in accordance with the definition of an enforceable "Nonsolicitation Agreement" under the Washington Act; and (ii) the non-competition covenant in Section 11(b)(1) will not be or become enforceable against the Participant. "Covered Person"

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means a customer (including a resident or patient) of the Company or any Subsidiary or Affiliate or any of their successors or assigns that the Participant had material contact with during the two (2) years prior to the Participant's termination of employment and that/who is engaged in business with the Company or its Subsidiary or Affiliate at the time of solicitation. Material contact will be presumed present if in the two-year period the Participant (or persons under the Participant's supervision) had contact with the customer, resident, or patient, or the Participant was provided Confidential Information about the customer, resident, or patient, or the Participant received commissions or other beneficial credit for business conducted with the customer, resident, or patient. "Covered Employee" shall mean any employee who is employed by the Company or any Subsidiary or Affiliate or any of their successors or assigns or was so employed at any time during the twelve (12) months prior to the Participant's termination of employment and with whom the Participant worked, whom the Participant supervised, or about whom the Participant acquired Confidential Information. Further, in addition to the other forms of Protected Conduct, nothing in the Agreement prohibits disclosure or discussion of conduct the Participant reasonably believes to be illegal discrimination, illegal harassment, illegal retaliation, a wage and hour violation, or sexual assault, or that is recognized as against a clear mandate of public policy.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(23)&nbsp;&nbsp;&nbsp;&nbsp;Wisconsin Addendum.** If a court of competent jurisdiction deems that Wisconsin law applies, then: (i) the tolling language in Section 11(e)(4) shall not apply; (ii) the definition of "Covered Employee" shall be modified to be further limited to those employees who are either entrusted with Confidential Information or employed in a position essential to the management, organization, or service of the business (such as, but not limited to maintaining the Company's or its Subsidiary's or Affiliate's customer and other key relationships); and (iii) the Participant understands that the obligations in Section 11(b)(2) of the Addendum are limited to the Territory.

## Exhibit 10.2

**Exhibit 10.2**

**RESTRICTED STOCK UNIT AGREEMENT<br>UNDER THE BROOKDALE SENIOR LIVING INC.<br>2024 OMNIBUS INCENTIVE PLAN**

This Award Agreement, including the Addendum hereto (this "Agreement"), dated as of February 12, 2026 (the "Date of Grant"), is made by and between Brookdale Senior Living Inc., a Delaware corporation (the "Company"), and «First_Name» «Last_Name» (the "Participant"). Capitalized terms not defined herein shall have the meaning ascribed to them in the Brookdale Senior Living Inc. 2024 Omnibus Incentive Plan (as amended and/or restated from time to time, the "Plan"). Where the context permits, references to the Company shall include any successor to the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.<u>Grant of RSUs</u>. The Company hereby grants to the Participant «No_of_RSUs» restricted stock units (the "RSUs") under the Plan, which shall be subject to all of the terms and conditions of this Agreement and the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.<u>Vesting</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)<u>General</u>. Subject to the provisions set forth below, the RSUs shall vest at such times (each, including as provided in subparagraphs (b) and (c), a "Vesting Date") and in the amounts set forth below, subject to the continued Service of the Participant with the Company or one of its Subsidiaries or Affiliates (or a successor to any of them) from the Date of Grant to such Vesting Date:

---

| | |
|:---|:---|
| **Incremental Number of RSUs Vested** | **Scheduled Vesting Date** |
| _____________ | February 27, 2027 |
| _____________ | February 27, 2028 |
| _____________ | February 27, 2029 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)<u>Award Not Assumed Following Change in Control</u>. Upon the occurrence of a Change in Control, if the outstanding RSUs are not assumed, continued or substituted with an award relating to a publicly-traded security of the acquirer (or the Company) on the same terms and conditions that were applicable to the outstanding RSUs immediately prior to the Change in Control, then all outstanding RSUs immediately prior to the Change in Control shall vest and be settled upon the consummation of the Change in Control.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)<u>Following Termination of Service</u>. Except as otherwise provided in Section 2 of the Addendum, which is incorporated herein, upon termination of the Participant's Service with the Company and its Subsidiaries and Affiliates for any reason, all unvested RSUs outstanding as of the date of such termination shall automatically and without notice terminate and be forfeited and neither the Participant nor any of the Participant's successors, heirs, assigns, or personal representatives shall thereafter have any further rights or interests in such RSUs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.<u>Settlement of Restricted Stock Units</u>. As soon as practicable following each Vesting Date (but in no event later than 30 days following the Vesting Date or such earlier time specified in this Agreement), the Company shall issue to the Participant the number of Shares equal to the aggregate number of RSUs that have vested pursuant to this Agreement on such date and the Participant shall thereafter have all the rights of a stockholder of the Company with respect to such Shares. Notwithstanding anything in this Agreement to the contrary, no

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fractional shares shall vest or be issuable under this Agreement, and any such fractional shares shall be rounded down to the next whole share; *provided*, that the Administrator may, in its sole discretion, provide a cash payment in lieu of any such fractional share.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.<u>Rights as a Stockholder</u>. Section 4 of the Addendum is incorporated herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.<u>Adjustments</u>. Pursuant to Section 5 of the Plan, in the event of a Change in Capitalization as described therein, the Administrator shall make such equitable changes or adjustments, as it deems necessary or appropriate, in its discretion, to the number and kind of securities or other property (including cash) issued or issuable in respect of outstanding RSUs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.<u>Certain Changes</u>. The Administrator may accelerate the vesting dates or otherwise adjust any of the terms of the RSUs; provided that, subject to Section 5 of the Plan and Section 11(f) of the Addendum to this Agreement, no action under this Section shall adversely affect the Participant's rights hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.<u>Notices</u>. All notices and other communications under this Agreement shall be in writing and shall be given by facsimile or first class mail, certified or registered with return receipt requested, and shall be deemed to have been duly given three days after mailing or 24 hours after transmission by facsimile to the respective parties, as follows: (i) if to the Company, at Brookdale Senior Living Inc., 105 Westwood Place, Suite 400, Brentwood, TN 37027, Facsimile: (615) 564-8204, Attn: General Counsel and (ii) if to the Participant, using the contact information on file with the Company. Either party hereto may change such party's address for notices by notice duly given pursuant hereto. Notwithstanding the foregoing, the Company may, in its sole discretion, decide to deliver any notice or other communications related to the RSUs, this Agreement or current or future participation in the Plan by electronic means. The Participant hereby consents to receive such notices and other communications by electronic delivery and agrees to participate in the Plan through an online or electronic system established and maintained by the Company or a third party designated by the Company (including the Company's stock plan service provider's website).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.<u>Taxes</u>. The Participant has reviewed with the Participant's own tax advisors the Federal, state, local and foreign tax consequences of the transactions contemplated by this Agreement. The Participant is relying solely on such advisors and not on any statements or representations of the Company or any of its agents. The Participant acknowledges and agrees that the Participant is responsible for the tax consequences associated with the award and vesting of the RSUs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.<u>Withholding</u>. The provisions of Section 9 of the Addendum to this Agreement are incorporated herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.<u>Failure to Enforce Not a Waiver</u>. The failure of the Company to enforce at any time any provision of this Agreement shall in no way be construed to be a waiver of such provision or of any other provision hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.<u>Restrictive Covenants</u>. The provisions of Section 11 of the Addendum to this Agreement are incorporated herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.<u>Governing Law</u>. This Agreement shall be governed by and construed according to the laws of the State of Delaware without regard to its principles of conflict of laws. If during the Participant's Service with the Company, the Participant primarily resides or is primarily assigned to the Company or one of its Subsidiary or Affiliate location(s) in California, Colorado, Minnesota, or Washington, then for so long as the Participant primarily resides in such state or is

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primarily assigned to location(s) in such states during the Participant's Service, this Section 12 shall not apply to the covenants in Section 11 of the Addendum.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.<u>Incorporation of Plan</u>. The Plan is hereby incorporated by reference and made a part hereof, and the RSUs and this Agreement shall be subject to all terms and conditions of the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.<u>Amendments; Construction</u>. The Administrator may amend the terms of this Agreement prospectively or retroactively at any time, but no such amendment shall impair the rights of the Participant hereunder without the Participant's consent. Headings to Sections of this Agreement are intended for convenience of reference only, are not part of this Agreement and shall have no effect on the interpretation hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.<u>Survival of Terms</u>. This Agreement shall apply to and bind the Participant and the Company and their respective permitted assignees and transferees, heirs, legatees, executors, administrators and legal successors. The terms of Section 11 of the Addendum shall expressly survive the vesting and/or forfeiture of the RSUs and any expiration or termination of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.<u>Compliance with Stock Ownership and Retention Guidelines</u>. The Participant hereby agrees to comply with the Company's Stock Ownership and Retention Guidelines (as amended from time to time, the "Guidelines"), to the extent such Guidelines are applicable, or become applicable, to the Participant. The Participant further acknowledges that, if the Participant is not in compliance with such Guidelines (if applicable), the Administrator may refrain from issuing additional equity awards to the Participant and/or elect to pay the Participant's annual bonus in the form of vested or unvested Common Stock.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.<u>Agreement Not a Contract for Services</u>. Neither the Plan, the granting of the RSUs, this Agreement nor any other action taken pursuant to the Plan shall constitute or be evidence of any agreement or understanding, express or implied, that the Participant has a right to continue to provide Services as an officer, director, employee, consultant or advisor of the Company or any Subsidiary or Affiliate for any period of time or at any specific rate of compensation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18.<u>Restrictions</u>. The RSUs may not be sold, transferred, pledged, assigned or otherwise encumbered or disposed of by the Participant, and any Shares issuable with respect to the RSUs may not be sold, transferred, pledged, assigned or otherwise encumbered or disposed of until such Shares have been issued to the Participant upon vesting of the RSUs in accordance with the terms of the Plan and this Agreement. Unless the Administrator determines otherwise, upon any attempt to transfer RSUs or any rights in respect of RSUs before the lapse of such restrictions, such RSUs, and all of the rights related thereto, shall be immediately forfeited by the Participant and transferred to, and reacquired by, the Company without consideration of any kind.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.<u>Authority of the Administrator</u>. The Administrator shall have full authority to interpret and construe the terms of the Plan and this Agreement. The determination of the Administrator as to any such matter of interpretation or construction shall be final, binding and conclusive.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20.<u>Severability</u>. Should any provision of this 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 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 Agreement. Moreover, if one or more of the

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provisions contained in this 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 provision or provisions in any other jurisdiction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21.<u>Acceptance</u>. The Participant hereby acknowledges receipt of a copy of the Plan and this Agreement. The Participant has read and understands the terms and provisions of the Plan and this Agreement, and accepts the RSUs subject to all the terms and conditions of the Plan and this Agreement. The Participant hereby agrees to accept as binding, conclusive and final all decisions or interpretations of the Administrator upon any questions arising under this Agreement. By the Participant's electronically accepting the award of the RSUs using an online or electronic system established and maintained by the Company or a third party designated by the Company (including the Company's stock plan service provider's website), the Participant agrees to be bound by the terms and conditions of the Plan and this Agreement. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which shall constitute one and the same instrument. The Participant's electronic acceptance of the award of the RSUs shall have the same validity and effect as a signature affixed to this Agreement by the Participant's hand. The Participant understands their participation in the terms of the Plan and this Agreement through acceptance of RSUs is entirely voluntary, and is not a term and/or condition of Service but is instead an award granted on a discretionary basis to align the Participant's interests with those of the Company's stockholders and is an award that the Participant is free to decline at the Participant's discretion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22.<u>Limitation on Rights; Extraordinary Item of Compensation</u>. By accepting this Agreement and the grant of the RSUs contemplated hereunder, the Participant expressly acknowledges that (a) the Plan is established voluntarily by the Company, it is discretionary in nature and may be suspended or terminated by the Company at any time, to the extent permitted by the Plan; (b) the grant of RSUs is exceptional, voluntary, and occasional and does not create any contractual or other right to receive future grants of RSUs, or benefits in lieu of RSUs, even if RSUs have been granted in the past; (c) all determinations with respect to future grants of RSUs, if any, including the date of grant, the number of units granted and the applicable vesting terms, will be at the sole discretion of the Company; (d) the Participant's participation in the Plan is voluntary; and (e) the future value of the underlying Shares is unknown and cannot be predicted with certainty. In addition, the Participant understands, acknowledges and agrees that the Participant will have no rights to compensation or damages related to RSU proceeds in consequence of the termination of the Participant's Service for any reason whatsoever and whether or not in breach of contract, other than as set forth in the Plan or in this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23.<u>Section 409A</u>. This Agreement shall be interpreted in such a manner that all provisions relating to the settlement of the RSUs are exempt from the requirements of Section 409A of the Code as "short-term deferrals" as described in Section 409A of the Code. Notwithstanding anything to the contrary in this Agreement or an accompanying election form executed by the Participant, if (i) on the date of the Participant's Separation from Service with the Company the Participant is a "specified employee" (as such term is defined under Section 1.409A-1(i) of the Treasury Regulations promulgated under Section 409A of the Code) of the Company and (ii) any payments to be provided to the Participant pursuant to this Agreement are or may become subject to the additional tax under Section 409A(a)(1)(B) of the Code, or any other taxes or penalties imposed under Section 409A of the Code if provided at the time otherwise required under this Agreement, then such payments shall be delayed until the date that is six months after the date of the Participant's separation from service from the Company, or if earlier, his or her death. Any payments delayed pursuant to this paragraph shall be made in a

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lump sum on the first day of the seventh month following the Participant's separation from service, or if earlier, the Participant's death. Each payment upon settlement of RSUs (and any related dividend or related dividend equivalent rights) constitutes a "separate payment" for purposes of Section 409A of the Code. Notwithstanding any other provision of this Agreement, if and to the extent that any payment under this Agreement constitutes non-qualified deferred compensation under Section 409A of the Code, and is payable upon (i) the Participant's termination of Service, then such payment shall be made or provided to the Participant only upon a "separation from service" as defined for purposes of Section 409A of the Code, or (ii) a Change in Control, then such payment shall be made or provided to the Participant only upon a "change in the ownership", a "change in effective control" or a "change in the ownership of a substantial portion of the assets" of the applicable corporation as defined for purposes of Section 409A of the Code.

*[signature page follows]*

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IN WITNESS WHEREOF, the parties hereto have executed and delivered this Agreement as of the day and year first above written.

**BROOKDALE SENIOR LIVING INC.**

By:&nbsp;&nbsp;&nbsp;&nbsp;<u>/s/ Chad C. White&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>

Name: &nbsp;&nbsp;&nbsp;&nbsp;Chad C. White

Title: &nbsp;&nbsp;&nbsp;&nbsp;Executive Vice President, General Counsel

&nbsp;&nbsp;&nbsp;&nbsp; and Secretary

**PARTICIPANT**

<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>

&nbsp;&nbsp;&nbsp;&nbsp;«First_Name» «Last_Name»

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**ADDENDUM TO<br>RESTRICTED STOCK UNIT AGREEMENT<br>UNDER THE BROOKDALE SENIOR LIVING INC.<br>2024 OMNIBUS INCENTIVE PLAN**

**Section 2**:

Notwithstanding Section 2(c) or anything in the Agreement to the contrary:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;In the event that the Participant's Service is terminated (other than as described in subparagraph (ii)) (A) by the Company and its Subsidiaries and Affiliates without Cause, (B) by death, or (C) due to Disability, the RSUs subject to vesting at the next Vesting Date shall vest effective upon the date of such termination and be settled within 30 days following such termination, and any remaining outstanding and unvested RSUs shall be forfeited, effective upon the date of such termination; provided, however, that the acceleration provided by clause (C) shall not apply unless the Participant actively provided Services on at least one day in the one-year period immediately preceding such next Vesting Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;In the event that the Participant's Service is terminated (A) by the Company (or its successor) and its Subsidiaries and Affiliates without Cause on or after the effective date of a Change in Control but prior to twelve (12) months following such Change in Control, or (B) by the Participant for Good Reason (as defined in the Company's Amended and Restated Tier I Severance Pay Policy or the Company's Amended and Restated Tier II Severance Pay Policy, whichever is applicable to the Participant) on or after the effective date of a Change in Control but prior to twelve (12) months following such Change in Control, then any unvested RSUs outstanding upon the date of such termination shall vest effective upon the date of such termination and be settled within 30 days following such termination.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;In the event the Participant retires from the Company and its Subsidiaries and Affiliates (A) on or after attaining age sixty (60) with a minimum of five (5) years of service with the Company and its Subsidiaries and Affiliates and (B) after providing no less than six (6) months' advance written notice to the Company of the anticipated Retirement, then any unvested RSUs outstanding upon the date of such Retirement shall continue to vest (without any requirement of continued Service) effective at each applicable Vesting Date as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;&nbsp;&nbsp;for a Retirement date that occurs prior to February 12, 2027, unvested RSUs outstanding shall continue to vest on each applicable Vesting Date in an amount equal to the percentage of the number of full months employed since the Date of Grant divided by 12 (with the remaining percentage of the unvested RSUs to be forfeited upon the date of such Retirement); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;&nbsp;&nbsp;&nbsp;for a Retirement date that occurs on or after February 12, 2027, 100% of the unvested RSUs outstanding shall continue to fully vest on each applicable Vesting Date.

In the event the Participant's service with the Company and its Subsidiaries and Affiliates (or a successor to any of them) is terminated for any reason and the Participant resumes service

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with the Company within five (5) years from the date of termination, the minimum of five (5) years of service with the Company and its Subsidiaries and Affiliates required for eligibility in clause (iii)(A) will include such service with the Company completed prior to the initial termination for purposes of determining eligibility under this clause (iii).

**Section 4:** 

The Participant shall have no voting rights with respect to RSUs outstanding on any applicable record date. Any ordinary or extraordinary cash or stock dividend that may be declared and paid on the Common Stock with a record date on or after the Date of Grant and prior to the settlement date of the RSUs shall be deposited (in the same form as was payable to the holders of Common Stock) in an account and be paid upon, and subject to, the vesting and settlement of the RSUs. For the avoidance of doubt, the Participant shall not be entitled to payment of dividends or dividend equivalents with respect to an RSU unless and until the vesting and settlement of such RSU in accordance with this Agreement, and all such dividends or dividend equivalents with respect to any RSU shall forfeit upon the forfeiture of such RSU.

**Section 9:**

Delivery of Shares is conditioned upon the Participant's making arrangements satisfactory to the Administrator regarding payment of income and employment tax withholding requirements as set forth in Section 15 of the Plan; provided, however, that the Participant may elect, without the consent of the Company, to have the Company withhold from delivery of Shares issuable upon the settlement of the RSUs such number of Shares having a Fair Market Value not exceeding the applicable taxes to be withheld and applied to the tax obligations of the Participant as determined by the Company. In making its determination, the Company may calculate such amount by taking into account applicable withholding rates not exceeding the maximum individual statutory tax rates in the Participant's applicable jurisdictions.

**Section 11**: **<u>Commitment to Avoid Detrimental Activities</u>.**

The Participant understands the Company has developed, and is continuing to develop, substantial relationships with actual and prospective officers, directors, employees, consultants, agents, customers, residents, patients, referral sources, clients, vendors, suppliers, investors, and equity and financing sources, associate and customer goodwill, and confidential and proprietary business information and trade secrets, which the Company and its Subsidiaries and Affiliates have the right to protect in order to safeguard their legitimate business interests. Any misappropriation of such relationships or goodwill, or any improper disclosure or use of the Company's and its Subsidiaries' and Affiliates' confidential and proprietary business information and trade secrets would be highly detrimental to their business interests in that serious and substantial loss of business and pecuniary damages would result therefrom. The Participant also acknowledges and recognizes that an important purpose of this Agreement is to align the interests of the Participant with those of the Company's stockholders and to ensure that the Participant does not engage in activity detrimental to the interests of the Company's stockholders if the Participant is going to be allowed the opportunity to participate in the financial rewards that result from the RSUs and their relationship to the value of equity

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participation in the Company. In addition, the Participant acknowledges that an ancillary purpose consistent with protecting the interests of the stockholders arises with respect to the Participant because during the period of the Participant's employment with the Company or any Subsidiary or Affiliate, the Participant shall have access to the Company's Confidential Information (as defined below) and will meet and develop such relationships and goodwill. The Participant accordingly agrees to comply with the provisions of this Section 11 as a condition of receipt and retention of the RSUs provided for in this Agreement and their beneficial value. The Participant acknowledges and agrees not to contest or dispute the Company's position that the prohibition of unfair competition provided for in this Section 11 is inextricably connected to and part of the Company's governance of its internal affairs and relates directly to the interests of the Company's stockholders. Nothing contained in this Section 11 shall limit any common law or statutory obligation that the Participant may have to the Company or any Subsidiary or Affiliate. For purposes of this Section 11, the "Company" refers to the Company and any incorporated or unincorporated affiliates of the Company, including any entity which becomes the Participant's employer as a result of any reorganization or restructuring of the Company for any reason. The Company shall be entitled, in connection with its tax planning or other reasons, to terminate the Participant's employment (which termination shall not be considered a termination for any purposes of this Agreement, any employment agreement, or otherwise) in connection with an invitation from another affiliate of the Company to accept employment with such affiliate in which case the terms and conditions hereof shall apply to the Participant's employment relationship with such entity mutatis mutandis.

For purposes of this Section 11, "Competing Business" means a business (which shall include any sole proprietorship, partnership, limited partnership, limited liability partnership, limited liability company, corporation or other for-profit or not-for-profit business organization) (A) engaged in the business of owning, operating**,** or managing senior living facilities within the United States or (B) engaged in any other business that constitutes twenty percent (20%) or more of the Company's annualized consolidated revenues or contributes twenty percent (20%) or more of the Company's consolidated annualized net operating income at any time during the Participant's employment. Notwithstanding the foregoing, this Section 11 shall not prohibit the Participant from (i) being a passive owner of not more than 2% of the outstanding stock of any class of a company that is publicly traded so long as the Participant does not have any active participation in the business of such company, (ii) passively investing in private investment funds whose principal investment strategy is not directed toward investing in entities that engage in or operate in a Competing Business; or (iii) commencing employment with or providing services to either (A) a private equity or financial sponsor that owns, invests in, or operates a business that engages in a Competing Business so long as the Participant does not perform services for the entity or business that is engaged in a Competing Business or (B) a subsidiary, division, or unit of any entity that has a diversified business so long as Executive does not perform services for or in respect of the business that engages in the Competing Business so long as the Participant does not perform services for or in respect of the business that engages in the Competing Business, in each case provided that the Participant's confidentiality obligations shall continue to bind the Participant prior to and during any term of such employment or provision of services, and, provided further for purposes of this clause (iii), that any such private equity or financial sponsor or diversified business does not receive at least twenty percent (20%) of its

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revenues from owning, investing in, or operating a business that engages in a Competing Business.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(a)**&nbsp;&nbsp;&nbsp;&nbsp;**<u>Avoidance of Competition and Other Detrimental Acts During Engagement</u>.** While employed or otherwise engaged as an individual to provide services to the Company (as an employee, consultant, or otherwise), the Participant will comply with each of the restrictions and obligations below.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(1)**&nbsp;&nbsp;&nbsp;&nbsp;While employed with the Company, the Participant will comply at all times with the Participant's duty of loyalty to the Company as an employee or agent of the Company placed in a position of special trust and confidence. This duty shall be understood to include, but not be limited to,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(i)** &nbsp;&nbsp;&nbsp;&nbsp;an obligation not to engage or participate in the business of a Competing Business, or become employed with a Competing Business as an employee, owner, member, partner, consultant, director, or otherwise, without the express written consent of the Company,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(ii)** &nbsp;&nbsp;&nbsp;&nbsp;an obligation not to interfere with or otherwise knowingly cause harm to the Company's ongoing or prospective business relationship with a Company employee, consultant, or individual providing services as an independent contractor, or a supplier, distributor, vendor, customer, or other person or entity that does business with the Company or that the Company has a reasonable expectation of doing business with, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(iii)** &nbsp;&nbsp;&nbsp;&nbsp;an obligation to inform the Company of business opportunities that fall within the Company's line of business and not pursue them for personal gain separate from the Company without the Company's express written consent in advance, or otherwise participate in any conduct or relationship that creates a conflict of interest in violation of Company policies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(2)**&nbsp;&nbsp;&nbsp;&nbsp;The Participant will not knowingly participate in or pursue activities that harm the value of the Company's intellectual property and will honor all agreements with the Company concerning the ownership and protection of proprietary works and intellectual property.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(b)**&nbsp;&nbsp;&nbsp;&nbsp;**<u>Avoidance of Competition and Other Detrimental Acts After Engagement</u>.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(1)**&nbsp;&nbsp;&nbsp;&nbsp;**<u>Noncompete</u>.** The Participant agrees that for the one (1) year period immediately following the termination of the Participant's employment with the Company (or any Subsidiary or Affiliate) for any reason or for no reason (the "Non-Compete Restricted Period"), the Participant shall not, directly or by assisting or directing others, either as a principal, agent, employee, employer, consultant, partner, shareholder of a closely held corporation or shareholder in excess of five percent of a publicly traded corporation, corporate

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officer or director, or in any other individual or representative capacity, engage or otherwise participate in any manner or fashion in any business that is a Competing Business (as defined herein). Notwithstanding the foregoing, (i) if the Participant's employment is terminated by the Participant after the Participant experiences an aggregate reduction to the Participant's annual target cash compensation by 20% or more, the covenant in this Section 11(b)(1) shall not apply; and (ii) the covenant in this Section 11(b)(1) shall not be interpreted to restrict the Participant's right to practice law in violation of any rules of professional conduct applicable to the Participant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(2)&nbsp;&nbsp;&nbsp;&nbsp;<u>Solicitation of Employees, Clients, Referral Sources, Key Business Relationships.</u>** The Participant agrees that during the period of the Participant's employment with the Company or any Subsidiary or Affiliate, and for the two (2) year period immediately following the date of termination of such employment for any reason (the "Non-Solicit Restricted Period"), the Participant shall not, directly or by assisting or directing others, jointly or individually, on the Participant's own behalf or on behalf of or in assistance to any individual, person or entity:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(i)**&nbsp;&nbsp;&nbsp;&nbsp;(x) solicit, or attempt to solicit, any Covered Employee (as defined below) for employment or service with any entity other than the Company or any Subsidiary or Affiliate; or (y) recruit or facilitate the hire, or attempt to recruit or facilitate the hire, of any Covered Employee on behalf of a Competing Business, or otherwise induce or encourage any Covered Employee to terminate or sever his, her, or its employment or other relationship with the Company or any Subsidiary or Affiliate or any of their successors or assigns; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(ii)**&nbsp;&nbsp;&nbsp;&nbsp;(x) solicit business from any Covered Customer (as defined below) in connection with, on behalf of or for the benefit of a Competing Business; or (y) otherwise induce or encourage any Covered Customer to terminate, change, or reduce his, her, or its relationship with the Company or any Subsidiary or Affiliate or any of their successors or assigns for any reason; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(iii)**&nbsp;&nbsp;&nbsp;&nbsp;(x) solicit business from any Covered Referral Source (as defined below) in connection with, on behalf of or for the benefit of a Competing Business; or (y) otherwise induce or encourage any Covered Referral Source to terminate, change, or reduce his, her, or its relationship with the Company or any Subsidiary or Affiliate or any of their successors or assigns for any reason; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(iv)&nbsp;&nbsp;&nbsp;&nbsp;**(x) solicit business from any Key Business Relationship (as defined below) in connection with, on behalf of or for the benefit of a Competing Business; or (y) otherwise induce or encourage any Key Business Relationship to terminate, change, or reduce his, her, or its relationship with the Company or any Subsidiary or Affiliate or any of their successors or assigns for any reason.

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Notwithstanding the foregoing, a general advertisement or solicitation for employment that is not targeted and that does not have the effect of being targeted to any current or former Covered Employee shall not, by itself, be deemed to be a violation of the restrictions on solicitation contained in this Section 11(b)(2). For purposes of this Section 11(b)(2), "Covered Employee" shall mean (i) any officer, director, employee, or agent who is employed by the Company or any Subsidiary or Affiliate or any of their successors or assigns or was so employed or engaged at any time during the six (6) months prior to the Participant's termination of employment; and (ii) with whom the Participant worked, whom the Participant supervised, or about whom the Participant otherwise gained knowledge of because of the Participant's employment with the Company (or any Subsidiary or Affiliate) during the Look Back Period (as defined below); provided, however, that any such individual who has ceased to be employed by or engaged with the Company or any Subsidiary or Affiliate for a period of at least six (6) months shall no longer be deemed a Covered Employee. "Covered Customer" shall mean (i) any customers, residents, patients or clients of the Company or any Subsidiary or Affiliate or any of their successors or assigns; and (ii) (x) with whom/which the Participant had material business-related contact during the Look Back Period; or (y) about whom/which the Participant received Confidential Information during the Look Back Period. "Covered Referral Source" shall mean (i) any person or entity who/which has referred business to the Company or any Subsidiary or Affiliate or any of their successors or assigns during the Look Back Period; and (ii) (x) with whom/which the Participant had material business-related contact during the Look Back Period; or (y) about whom/which the Participant received Confidential Information during the Look Back Period. "Key Business Relationship" shall mean (i) any vendors, suppliers, investors, equity or financing sources, or consultants of the Company or any Subsidiary or Affiliate or any of their successors or assigns; and (ii) (x) with whom/which the Participant had material business-related contact during the Look Back Period; or (y) about whom/which the Participant received Confidential Information during the Look Back Period. Material business-related contact is presumed present for any persons or individuals with whom/which Employee had more than incidental business-related contact during the Look Back Period. The restrictions contained in Section 11(b)(2) are understood to be reasonably limited by geography to those locations, and counties, where the Covered Employees, Covered Customers, Covered Referral Sources, or Key Business Relationships are present and available for solicitation. However, to the extent additional geographic limitations are required to make the restrictions enforceable, they shall be deemed limited to the Territory.

"Territory" means: (i) those states and counties in which the Company is engaged in business (or actively planning to engage in business in the near term) (including state and state-equivalents and county and county-equivalents therein) at the time the Participant's employment ends and/or about which the Participant was provided access to Confidential Information during the Look Back Period; and, (ii) the state and county where the Participant resides. The Participant is presumed to have participated in the Company's business and/or had Confidential Information about the Company's business throughout each state in the United States (including state and state-equivalents and county and county-equivalents therein) in which the Company is engaged in business (or actively planning to engage in business in the near term) at the time the Participant's employment ends. The Participant is responsible for seeking clarification from the

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Company's Human Resources department if it is unclear to the Participant at any time what the scope of the Territory is.

"Look Back Period" means the last eighteen (18) months of the Participant's employment or such shorter period of time as the Participant was actually employed or engaged to provide personal services to the Company or its Subsidiaries.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(c)&nbsp;&nbsp;&nbsp;&nbsp;<u>Disparaging Comments</u>.** The Participant agrees that during the period of the Participant's employment with the Company or any Subsidiary or Affiliate, and any time thereafter, the Participant shall not make any disparaging or defamatory comments regarding the Company or any Subsidiary or Affiliate or any of their successors or assigns, or any time after termination of such employment, make any comments concerning any aspect of the termination of their relationship. The obligations of the Participant under this Section 11(c) shall not apply to Protected Conduct (as defined below).

&nbsp;&nbsp;&nbsp;&nbsp;**(d)&nbsp;&nbsp;&nbsp;&nbsp;<u>Confidentiality</u>.** All books of account, records, systems, correspondence, documents, memoranda, manuals, email, electronic or magnetic recordings or data and any and all other data, or compilations of such data or information, in whatever form and any copies thereof, concerning or containing any reference to the works and business of the Company or any Subsidiary or Affiliate shall belong to the Company and shall be given up to the Company whenever the Company requires the Participant to do so, other than documents pertaining to the Participant's individual compensation (such as pay stubs and benefit plan booklets). The Participant agrees that the Participant shall not at any time during the term of the Participant's employment with the Company or any Subsidiary or Affiliate, or at any time thereafter, without the Company's prior written consent, disclose to any individual, person or entity any Confidential Information, nor will the Participant use, store, transmit, upload, copy, or download any Confidential Information, except as necessary in the performance of their job duties for the Company.

"Confidential Information" means any item or compilation of information or data, in whatever form (tangible or intangible), related to the Company's business that the Participant acquires or gains access to in the course of their employment with the Company that the Company has not authorized public disclosure of, and that is not readily available to the public or persons outside the Company through proper means. By way of example and not limitation, Confidential Information is understood to include: (1) any financing strategies and practices, pricing strategies, structures and methods, underlying pricing-related variables such as costs, volume discounting options, and profit margins; training and operational procedures, advertising, marketing, and sales information or methodologies or financial information, business forecasts and expansion plans; (2) information relating to the Company's or any Subsidiary's or Affiliate's or any of their customers', referral sources' or clients' practices, businesses, procedures, systems, plans or policies, client lists, or prospective client lists; (3) information relating to residents or patients and their contract terms; and (4) associate/personnel data, including contact information obtained in the Participant's role in management. Confidential Information shall be understood to include any and all Company trade secrets (as defined under applicable state or federal law), but an item need not be a trade secret to qualify as Confidential Information. An item of Confidential

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Information will ordinarily constitute a trade secret under state or federal law if (a) it derives independent economic value, actual or potential, from not being generally known to, and not being readily ascertainable by proper means by, other persons who can obtain economic value from its disclosure or use, and (b) it is the subject of efforts that are reasonable under the circumstances (or under federal law, using reasonable measures) to maintain its secrecy. Something is not acquired through proper means if acquired through theft, bribery, misrepresentation, breach or inducement of a breach of a duty to maintain secrecy by contract or otherwise, or espionage through electronic or other means. For purpose of clarity, it shall still be a violation of this Agreement for a non-management employee to wrongfully compete by sharing Confidential Information, which was obtained through the course of employment with the Company, with a competitor about other employees' compensation and benefits for purposes of assisting such competitor in soliciting Company employees.

The Participant hereby confirms that all Confidential Information constitutes the Company's exclusive property, and that all of the restrictions on the Participant's activities contained in this Agreement and such other nondisclosure policies of the Company are required for the Company's reasonable protection. Confidential Information shall not include any information that has otherwise been disclosed to the public not in violation of this Agreement. This confidentiality provision shall survive the termination of this Agreement and shall not be limited by any other confidentiality agreements entered into with the Company or any Subsidiary or Affiliate. Notwithstanding the foregoing, nothing in this Agreement (or any other Company policy or contract to which the Participant is or was subject) shall be construed to prohibit the Participant from communicating with any federal, state or local governmental agency or commission with oversight of the Company without notice to the Company, as provided for, protected under or warranted by applicable law. Further, the restrictions provided for in this Section 11(d) shall not be construed to prohibit the use of general knowledge and experience customarily relied upon in the Participant's trade or profession that is not specific to the particular business matters of the Company (such as its business transactions, customers, residents, clients, or employees).

With respect to any Confidential Information that constitutes a "trade secret" pursuant to applicable law, the restrictions described above shall remain in force for so long as the particular information remains a trade secret or for the two (2) year period immediately following termination of the Participant's employment for any reason, whichever is longer. With respect to any Confidential Information that does not constitute a "trade secret" pursuant to applicable law, the restrictions described above shall remain in force during the Participant's employment and for the two (2) year period immediately following termination of such employment for any reason. Nothing in the foregoing shall be construed to permit the Participant to recreate records of Confidential Information from memory or retain copies of Confidential Information in any form after their employment or engagement with the Company ends. The Participant understands that they should have no records of this kind in their possession or control with which to refresh their memory after the Participant's employment with the Company or any Subsidiary or Affiliate ends.

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Notwithstanding anything to herein to the contrary, the Participant shall be permitted to use and disclose Confidential Information (solely as it relates to his or her compensation, benefits, and equity ownership) to (A) the Participant's immediate family members, (B) the Participant's attorneys, financial advisors, accountants, and other professional advisors who are bound by obligations of confidentiality, or (C) any other person to which such use or disclosure is necessary (w) to effect compliance with applicable law, (x) to pursue the Participant's rights or claims under this Agreement, or (z) to pursue the Participant's rights or claims to indemnification or under directors' and officers' liability insurance policies.

The Participant agrees that the Participant shall promptly disclose to the Company in writing all information and inventions generated, conceived or first reduced to practice by the Participant alone or in conjunction with others, during or after working hours, while in the employ of the Company or any Subsidiary or Affiliate (all of which is collectively referred to in this Agreement as "Proprietary Information"); provided, however, that such Proprietary Information shall not include (a) any information that has otherwise been disclosed to the public not in violation of this Agreement and (b) general business knowledge and work skills of the Participant, even if developed or improved by the Participant while in the employ of the Company or any Subsidiary of Affiliate. All such Proprietary Information shall be the exclusive property of the Company and is hereby assigned by the Participant to the Company. The Participant's obligation relative to the disclosure to the Company of such Proprietary Information anticipated in this Section 11(d) shall continue beyond the Participant's termination of employment and the Participant shall, at the Company's expense, give the Company all assistance it reasonably requires to perfect, protect and use its right to the Proprietary Information.

<u>DTSA Notice</u>: The Defend Trade Secrets Act of 2016 (DTSA) provides that no individual will be held criminally or civilly liable under Federal or State trade secret law for the disclosure of a trade secret that: (i) is made in confidence to a Federal, State, or local government official, either directly or indirectly, or to an attorney; and made solely for the purpose of reporting or investigating a suspected violation of law; or, (ii) is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal so that it is not made public. It also provides that an individual who pursues a lawsuit for retaliation by an employer for reporting a suspected violation of the law may disclose the trade secret to the attorney of the individual and use the trade secret information in the court proceeding if the individual files any document containing the trade secret under seal and does not disclose the trade secret except as permitted by court order.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(e)&nbsp;&nbsp;&nbsp;&nbsp;<u>Enforcement</u>.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(1)**&nbsp;&nbsp;&nbsp;&nbsp;The Participant acknowledges that compliance with all provisions, covenants and agreements set forth in this Agreement, and the duration, terms and geographical area thereof, are reasonable and necessary to protect the legitimate business interests of the Company and its Subsidiaries and Affiliates. 

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(2)**&nbsp;&nbsp;&nbsp;&nbsp;The Participant acknowledges that a breach of the Participant's obligations under this Section 11 may result in irreparable and continuing damage to the Company and/or its Subsidiaries and Affiliates for which there is no adequate remedy at law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(3)**&nbsp;&nbsp;&nbsp;&nbsp;The Participant acknowledges that the Participant's education, experience and/or abilities are such that the enforcement of the restrictive covenants in this Agreement will not prevent the Participant from earning a living and will not cause any undue hardship upon the Participant. Further, the Participant acknowledges that the equity they receive under this Agreement is mutually agreed upon consideration that is adequate and sufficient to make the covenants in Section 11 immediately binding and enforceable against them.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(4)**&nbsp;&nbsp;&nbsp;&nbsp;In the event of the violation by the Participant of any of the covenants contained in Section 11 the terms of each such covenant so violated shall be automatically extended from the date on which the Participant permanently ceases such violation for a period equal to the period in which the Participant was in breach of the covenant or for a period of twelve (12) months from the date of the entry by a court of competent jurisdiction of an order or judgment enforcing such covenant(s), whichever period is later; provided, however, this extension of time shall be capped, except as to violations of Section 11(d), so that the extension of time does not exceed two years from the date the Participant's employment ended, and if this extension would make the restriction unenforceable under applicable law it will not be applied.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(5)**&nbsp;&nbsp;&nbsp;&nbsp;Each of the restrictive covenants contained in this Agreement is independent of any other contractual obligations of this Agreement or otherwise owed by the Participant to the Company and/or its Subsidiaries and Affiliates. Further, should the Participant be subject to an agreement with the Company containing confidentiality, non-solicitation, and/or noncompetition provisions, the restrictive covenants in this Agreement shall supplement (rather than supersede) the covenants in such other agreements ("Other Covenants"), and the Other Covenants shall remain in full force and effect. To the extent any conflict exists between the restrictions set forth in Section 11 and the Other Covenants, the Company shall be provided the greatest protection set forth in either agreement. The existence of any claim or cause of action by the Participant against the Company and/or its Subsidiaries or Affiliates, whether based on this Agreement or otherwise, shall not create a defense to the enforcement by the Company and/or its Subsidiaries and Affiliates of any restrictive covenant contained in this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(6)**&nbsp;&nbsp;&nbsp;&nbsp;Unless otherwise stated in Section 11(h), the Participant received a copy of this Agreement at least fourteen (14) days in advance of the date the Participant was expected to sign it. The Participant understands that the Company has advised them to use this time to consult with an attorney regarding this Agreement and that the Participant has a right to do so.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(7)**&nbsp;&nbsp;&nbsp;&nbsp;<u>Protected Conduct</u>. Nothing in this Agreement prohibits the Participant from: (i) opposing an event or conduct that the Participant reasonably believes is a violation of law, including criminal conduct, discrimination, harassment, retaliation, a safety or health violation, or other unlawful employment practices (whether in the workplace or at a work-related event); or (ii) disclosing sexual assault, sexual abuse, or sexual harassment (in the workplace, at work-related events, between employees, or between an employer and an employee or

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otherwise); or (iii) reporting such an event or conduct to the Participant's attorney, law enforcement, or the relevant law-enforcement agency (such as the Securities and Exchange Commission, Department of Labor, Occupational Safety and Health Administration, Equal Employment Opportunity Commission, or any equivalent state or local government agencies); or (iv) making any truthful statements or disclosures required by law or otherwise cooperating in an investigation conducted by any government agency (collectively referred to as "Protected Conduct"). Further, nothing requires notice to or approval from the Company before engaging in such Protected Conduct.

&nbsp;&nbsp;&nbsp;&nbsp;**(f)&nbsp;&nbsp;&nbsp;&nbsp;<u>Remedies</u>.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(1)**&nbsp;&nbsp;&nbsp;&nbsp;It is intended that, in view of the nature of the Company's and its Subsidiaries' and Affiliates' business, the restrictions contained in this Agreement are considered reasonable and necessary to protect the Company's and its Subsidiaries' and Affiliates' legitimate business interests and that any violation of these restrictions would result in irreparable injury to the Company and/or its Subsidiaries and Affiliates. In the event of a breach (a "Covenant Breach") or threatened breach by the Participant of any provision contained herein, the Company and its Subsidiaries and Affiliates may seek a temporary restraining order and injunctive relief. Nothing contained herein shall be construed as prohibiting the Company or its Subsidiaries or Affiliates from pursuing any other legal or equitable remedies available to it or them for any breach or threatened breach of these provisions, including, without limitation, recoupment and other remedies specified in the Agreement. In the event of a dispute regarding, arising out of, or in connection with the breach, enforcement or interpretation of this Agreement, including, without limitation, any action seeking injunctive relief, and provided that the Company is the prevailing party, the Company shall recover from the Participant all reasonable attorneys' fees and costs incurred by the Company in connection therewith ("Attorneys' Fees Remedy"). If under applicable law, the foregoing cannot be enforced without also giving the Participant the right to recover attorneys' fees and costs if deemed the prevailing party, then the foregoing sentence shall not apply and both parties shall bear their own attorney's fees and costs instead. The Company shall be deemed the prevailing party if it is awarded any part of the legal or equitable relief it seeks, irrespective of whether some of the relief it seeks is denied or modified.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(2)**&nbsp;&nbsp;&nbsp;&nbsp;In the event of a Covenant Breach, the Company shall have the authority to (i) cancel all outstanding RSUs, whether vested or unvested; (ii) cancel all Shares beneficially owned by the Participant that were issued in settlement of RSUs within 12 months on or prior, or at any time after, the date of the Participant's termination of employment ("Cancellable Shares"); and (iii) recoup from the Participant any proceeds from the Participant's sale, transfer or other disposition of Cancellable Shares; provided, however, that in the case of a Covenant Breach with respect to Section 11(b)(1) of this Addendum the Company may not exercise such remedy unless the Participant shall not have fully corrected such circumstances giving rise to the Covenant Breach under Section 11(b)(1) within thirty (30) days following written notification from the Company. The Company is hereby authorized by the Participant, as the Participant's attorney-in-fact, to execute all documents and undertake any required action on behalf of the Participant to transfer any Cancellable Shares back to the Company, after which the Participant shall not have

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any right, title, or interest of any kind to the Cancellable Shares. The Participant acknowledges and agrees that the Company has no obligation of any kind to the Participant with respect to the cancellation of RSUs or the Cancellable Shares, or the recoupment of proceeds from the disposition of Cancellable Shares, pursuant to this Section, including, but not limited to, reimbursement for any taxes previously paid by the Participant with respect to Cancellable Shares. This remedy shall be in addition to all other remedies, including those set forth in this Agreement and any other agreements between the parties. If the Participant resides in California, for so long as the Participant resides in California, this subsection (f)(2) shall not apply.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(g)&nbsp;&nbsp;&nbsp;&nbsp;<u>Company Intellectual Property</u>.** The Participant recognizes that all Works conceived, created, or reduced to practice by the Participant, alone or jointly with others, during the Participant's employment related to the business of owning, operating, or managing senior living facilities or providing private duty healthcare or other services to patients or customers shall to the fullest extent permissible by law be considered the Company's sole and exclusive property and "works made for hire" as defined in the U.S. Copyright Laws for purposes of United States law and the law of any other country adhering to the "works made for hire" or similar notion or doctrine, and will be considered the Company's property from the moment of creation or conception forward for all purposes without the need for any further action or agreement by the Participant or the Company. If any such Works or portions thereof shall not be legally qualified as a works made for hire in the United States or elsewhere, or shall subsequently be held to not be a work made for hire or not the exclusive property of the Company, the Participant hereby assigns to the Company all of the Participant's rights, title and interest, past, present, and future, to such Works. The Participant will not engage in any unauthorized publication or use of such Company Works, nor will the Participant use same to compete with or otherwise cause damage to the business interests of the Company. "Works" mean original works of authorship, including, but not limited to: literary works (including all written material), mask works, computer programs, formulas, tests, notes, data compilations, databases, artistic and graphic works (including designs, graphs, drawings, blueprints, and other works), recordings, models, photographs, slides, motion pictures, and audio visual works; whether copyrightable or not, and regardless of the form or manner in which documented or recorded.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(h)&nbsp;&nbsp;&nbsp;&nbsp;<u>State-Specific Modifications</u>.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(1)&nbsp;&nbsp;&nbsp;&nbsp;Alabama Addendum.** If a court of competent jurisdiction deems that Alabama law applies, then: (i) the definition of "Non-Solicit Restricted Period" shall be modified to include the period of the Participant's employment with the Company or any Subsidiary or Affiliate, and the eighteen (18) month period immediately following the date of termination of such employment for any reason; (ii) the definition of "Covered Employee" shall be modified to be further limited to those employees who are uniquely essential to the management, organization, or service of the business (such as an employee involved in management or significant customer sales or servicing); (iii) the definitions of "Covered Customer", "Covered Referral Source," and "Key Business Relationship" shall each be limited to those persons and entities with a current business relationship with the Company (or any Subsidiary or Affiliate) at the time of solicitation or other wrongful conduct; and (iv) Section 1(c) (Disparaging Comments) shall be modified to add the following language: "Nothing in this Agreement prevents the

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Participant from exercising the right to (1) communicate with a law enforcement officer acting within the line and scope of the officer's law enforcement duties that a violation of the law has occurred or is occurring; (2) communicate with a government regulator acting within the line and scope of the regulator's regulatory duties that a violation of the law has occurred or is occurring; (3) respond to a lawfully served judicial, grand jury, or other lawful subpoena; (4) testify in a judicial or administrative proceeding in response to a lawfully served subpoena or an order of a court of competent jurisdiction; (5) confer with the obligated party's attorney for the purpose of obtaining legal advice or representation; (6) respond to lawful discovery in a judicial or administrative action; provided the disparaging statement is either ordered by a court of competent jurisdiction or made in compliance with a protective order entered by the same court; (7) prosecute or defend a civil action between or among parties to a covered contract; provided the party making the disparaging statement attempts to and, if permitted by law, does file the disparaging statement and any related pleading under seal or in compliance with a protective order entered by a court of competent jurisdiction in the civil action; or (8) exercise federally protected statutory rights, including, but not limited to, the exercise of rights under the National Labor Relations Act or the Civil Rights Act of 1964, as amended."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(2) &nbsp;&nbsp;&nbsp;&nbsp;California Addendum.** Notwithstanding anything in the Agreement or the Addendum to the contrary, while the Participant resides or is primarily assigned to work in California during their employment by the Company or any of its Subsidiaries or Affiliates, then for so long as the Participant resides or is primarily assigned to work in California:

The Governing Law clause in Section 12 shall not be applied to deprive the Participant of the protections or benefits of California law, and nothing in this Agreement shall require the Participant to litigate a claim relating to this Section 11 outside of California. Section 11(b) shall not apply after the Participant's employment with the Company (or its Subsidiary or Affiliate) ends. However, any conduct relating to the solicitation of the Company's residents, patients, referral sources, investors, equity or financing sources, consultants, or employees that involves the misappropriation of the Company's trade secret information, such as its protected customer information, will remain prohibited conduct at all times, and nothing in this Agreement shall be construed to limit or eliminate any rights or remedies the Company would have against the Participant under trade secret law, unfair competition law, or other laws applicable in California absent this Agreement. In addition to the other forms of Protected Conduct, nothing in the Agreement shall be construed to prohibit the Participant from disclosing information about unlawful acts in the workplace, such as harassment or discrimination or any other conduct that the Participant has reason to believe is unlawful. The Attorneys' Fees Remedy in the last three sentences of Section 11(f)(1) shall be replaced with the following language: "In the event that the Company is successful in securing any temporary, preliminary, and/or permanent injunctive relief, and/or an award of damages or other judicial relief against the Participant in connection with any breach of this Agreement, the Participant agrees that the Company shall also be entitled to recover all remedies that may be awarded by a court of competent jurisdiction or arbitrator and any other legal or equitable relief allowed by law."

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(3)&nbsp;&nbsp;&nbsp;&nbsp;Colorado Addendum.** Notwithstanding anything in the Agreement or the Addendum to the contrary, while the Participant resides or is primarily assigned to work in Colorado during their employment by the Company or any of its Subsidiaries or Affiliates, then for so long as the Participant resides or is primarily assigned to work in Colorado:

The Governing Law clause in Section 12 shall not be applied to deprive the Participant of the protections or benefits of Colorado law, and nothing in this Agreement shall require the Participant to litigate a claim relating to this Section 11 outside of Colorado. The non-competition covenant in Section 11(b)(1), and the Covered Referral Source non-solicitation in Section 11(b)(2)(iii), and the Key Business Relationship non-solicitation in Section 11(b)(2)(iv) will not be enforceable against the Participant unless the Participant's earnings from the Company, when annualized, exceed the equivalent of $130,014 per year or the earnings threshold in effect as adjusted annually by the Colorado Division of Labor Standards and Statistics in the Department of Labor and Employment. If the Participant does not earn an amount of annualized cash compensation equivalent to or greater than sixty-percent of the threshold amount for highly compensated workers, $78,009 (or the earnings threshold in effect as adjusted annually by the Colorado Division of Labor Standards and Statistics in the Department of Labor and Employment) ("Colorado Customer Non-Solicit Earnings Threshold"), then the client non-solicitation obligations in Section 11(b)(2)(ii) shall not apply after the Participant's employment with the Company ends. The definitions of "Covered Customer," "Covered Referral Source," and "Key Business Relationship" shall each be modified to be further limited to only those customers, residents, patients, referral sources, investors, equity or financing sources, or consultants with respect to which the Participant would have been provided trade secret information during the last one year of the Participant's employment with the Company. The Participant stipulates that the non-competition and covered customer, covered referral source, and key business relationship non-solicitation obligations in Sections 11(b)(1), and 11(b)(2)(ii), 11(b)(2)(iii), and 11(b)(2)(iv) are reasonable and necessary for the protection of trade secrets within the meaning § 8-2-113(2)(b) (the "Colorado Noncompete Act"). The Participant acknowledges that they received notice of the covenant not to compete and its terms before the Participant accepted an offer of employment, or, if a current employee at the time the Participant enters into this Agreement, at least fourteen (14) days before the earlier of the effective date of the Agreement or the effective date of any additional compensation or change in the terms or conditions of employment that provides consideration for the covenant not to compete. If a current employee at the time the Participant receives this Agreement, under no circumstances will the obligations in Section 11(b) become effective until fourteen (14) days have passed since the Participant received this Agreement. The Confidential Information restrictions in this Agreement do not prohibit disclosure of information that arises from the worker's general training, knowledge, skill, or experience, whether gained on the job or otherwise, information that is readily ascertainable to the public, or information that a worker otherwise has a right to disclose as legally protected conduct. Nothing in this Agreement or Company policy limits or prevents a worker from disclosing information about workplace health and safety practices or hazards. Further, in addition to the other forms of Protected Conduct, nothing in the Agreement shall be

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construed to prohibit the Participant or any other employee or prospective employee from disclosing or discussing (either orally or in writing) information about unlawful acts in the workplace, such as any alleged discriminatory or unfair employment practice, or any other conduct protected by section 24-34-407, C.R.S., of the Protecting Opportunities and Workers' Rights ("POWR") Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(4)&nbsp;&nbsp;&nbsp;&nbsp;Georgia Addendum.** If a court of competent jurisdiction deems that Georgia law applies, then: (a) the definition of "Confidential Information" will be understood to exclude information voluntarily disclosed to the public by the Company (excluding unauthorized disclosures by the Participant or others), information that is the result of independent development by others, and information that is otherwise available in the public domain through lawful means. Nothing in this Agreement, including the definition of Confidential Information, limits or alters the definition of what constitutes a trade secret under any federal or state law designed to protect trade secrets; and (b) nothing in the non-solicitation obligations in Sections 11(b)(2)(ii), 11(b)(2)(iii), and 11(b)(2)(iv) shall restrict the Participant from accepting business from a Covered Customer, Covered Referral Source, or Key Business Relationship so long as the Participant did not solicit, assist in soliciting, facilitate the solicitation of, provide, or offer to provide services to the Covered Customer, Covered Referral Source, or Key Business Relationship (regardless of who first initiated contact) or use Confidential Information to encourage or induce the Covered Customer, Covered Referral Source, or Key Business Relationship to withdraw, curtail, or cancel its business with the Company or in any other manner modify or fail to enter into any actual or potential business relationship with the Company. The Participant acknowledges the referral source and key business relationship restrictions in Sections 11(b)(2)(iii) and (iv) shall be limited to the Territory.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(5)&nbsp;&nbsp;&nbsp;&nbsp;Idaho Addendum.** If a court of competent jurisdiction deems that Idaho law applies, then the definition of "Non-Compete Restricted Period" shall be modified to include the twelve (12) month period immediately following the date of termination of the Participant's employment with the Company (or any Subsidiary or Affiliate) for any reason.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(6)&nbsp;&nbsp;&nbsp;&nbsp;Illinois Addendum.** If a court of competent jurisdiction deems that Illinois law applies, then: (i) the Participant acknowledges that the equity they receive under this Agreement is mutually agreed upon consideration that is adequate and sufficient to make the covenants in Section 11 immediately binding and enforceable against them; (ii) the non-competition restrictions in Section 11(b)(1) shall not apply if the Participant earns equal to or less than $75,000 annually ("Non-Competition Earnings Threshold") (with the Non-Competition Earnings Threshold increasing by $5,000 every five years from January 1, 2027 through January 1, 2037); (iii) the Covered Customer, Referral Source, Key Business Relationship, and employee non-solicit obligations and employee non-solicit obligations in Section 11(b)(2) shall not apply if the Participant earns equal or less than $45,000 annually ("Non-Solicit Earnings Threshold") (with the Non-Solicit Earnings Threshold increasing by $2,500 every five years from January 1, 2027 through January 1, 2037). The Participant further agrees that if, at the time the Participant signs the Agreement, the Participant's earnings do not meet the Non-Competition Earnings Threshold and/or the Non-Solicit Earnings Threshold, then the non-competition provision contained in Section 11(b)(1), will automatically become enforceable against the Participant if

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and when the Participant begins earning an amount equal to or greater than the Non-Competition Earnings Threshold, and the Customer, Referral Source, Key Business Relationship, and employee non-solicit obligations in Section 11(b)(2) will automatically become enforceable against the Participant if and when the Participant begins earning an amount equal to or greater than the Non-Solicit Earnings Threshold; (iv) the Attorneys' Fees Remedy in the last three sentences of Section 11(f)(1) relating to attorneys' fees shall be replaced with the following language: "In the event that any action is filed to enforce the terms and conditions of Section 11 of this Agreement, the prevailing party in the action will recover from the non-prevailing party, in addition to any other sum that either party may be called upon to pay, a reasonable sum for the prevailing party's attorney's fees and costs. The Company shall be deemed the prevailing party if it is awarded any part of the legal or equitable relief it seeks, irrespective of whether some of the relief it seeks is denied or modified"; and (v) the Participant understands that nothing in the Agreement prohibits reporting or opposing any conduct the Participant reasonably believes to be an unlawful practice actionable under state or federal employment law including those enforced by the Illinois Department of Human Rights, the Illinois Department of Labor, the Illinois Labor Relations Board, the U.S. Department of Labor, the Occupational Safety and Health Administration, or National Labor Relations Board. The Participant also understands that nothing in the Agreement restricts the right to engage in concerted activity to address work-related issues.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(7)&nbsp;&nbsp;&nbsp;&nbsp;Indiana Addendum.** If a court of competent jurisdiction deems that Indiana law applies, then: the definition of "Covered Employee" shall be modified to be further limited to employees who have access to or possess any Confidential Information that would give a competitor an unfair advantage.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(8)&nbsp;&nbsp;&nbsp;&nbsp;Louisiana Addendum.** If a court of competent jurisdiction deems that Louisiana law applies, then: (a) the meaning of the Participant's "Territory" shall be understood to include the parishes (and equivalents) in the following list so long as the Company continues to carry on business therein: Acadia, Allen, Avoyelles, Beauregard, Bienville, Bossier, Caddo, Calcasieu, Cameron, Catahoula, Desoto, Evangeline, Grant, Iberia, Jefferson Davis, Jefferson, Lafayette, LaSalle, Natchitoches, Orleans, Rapides, Red River, St. Charles, St. John the Baptist, St. Landry, St. Martin, St. Tammany, Tangipahoa, Vermillion, Vernon, Washington, Webster; and (b) the Participant's Covered Customer, Covered Referral Source, and Key Business Relationship non-solicit obligations (as well as their non-compete obligations) shall be limited to the parishes and counties (or their equivalents) from the foregoing list that fall within the Participant's Territory. The Participant agrees that the foregoing provides the Participant with adequate notice of the geographic scope of the restrictions contained in the Agreement by name of specific parish or parishes (and equivalents), municipality or municipalities, and/or parts thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(9)&nbsp;&nbsp;&nbsp;&nbsp;Maine Addendum.** If a court of competent jurisdiction deems that Maine law applies, then: (i) the Participant acknowledges that if the Participant is being initially hired by the Company (or its Subsidiary or Affiliate) that the Participant was notified a noncompete agreement would be required prior to their receiving a formal offer of employment from the Company (or its Subsidiary or Affiliate) and the Participant received a copy of the Agreement at least three business days before they were required to sign the Agreement; (ii) Section 11(b)(1)

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will not take effect (to restrict the Participant post-employment) until one year of employment or a period of six months from the date the agreement is signed, whichever is later; and (iii) Section 11(b)(1) shall not apply if the Participant earns at or below 400% of the federal poverty level.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(10)&nbsp;&nbsp;&nbsp;&nbsp;Massachusetts Addendum.** If a court of competent jurisdiction deems that Massachusetts law applies, then: (i) the Participant acknowledges that the opportunity to receive equity under this Agreement is mutually agreed upon consideration that is adequate and sufficient to make the covenants in Section 11(b)(1) to be immediately binding and enforceable against them; (ii) if the Participant breaches their fiduciary duty to the Company (or any Subsidiary or Affiliate) and/or has unlawfully taken, physically or electronically, any Company records, then the Non-Compete Restricted Period shall be extended to a period of two (2) years from the cessation of the Participant's employment with the Company or any Subsidiary or Affiliate; (iii) the non-compete in Section 11(b)(1) shall only apply post-employment if the Participant's employment ends voluntarily or involuntarily for cause. The Participant understands that for the limited purposes of the application of the non-competition restriction in Section 11(b)(1) of the Agreement, "cause" to terminate the Participant's employment exists if the Participant has: (A) materially breached any obligations under any applicable employment, confidentiality, nonsolicitation, invention assignment, or noncompetition agreement with the Company; (B) been convicted of or entered a plea of guilty or nolo contendere to, or admission to facts sufficient for a finding of guilt for, any crime constituting a felony or any misdemeanor involving fraud, dishonesty and/or moral turpitude; (C) neglected, refused, or failed to discharge their duties (other than due to physical or mental illness) commensurate with their title and function, or their failure to comply with a lawful direction of the Company; (D) breached their duty of loyalty or fiduciary duty to the Company; (E) violated the Company's policy or policies; (F) engaged in unlawful discrimination or harassment; (G) engaged in any other willful misconduct which is materially injurious to the financial condition or business reputation of, or is otherwise materially injurious to, the Company; and/or (H) engaged in any other act that is accepted as cause for termination under the common law of the Commonwealth of Massachusetts. Nothing in this herein shall be construed to eliminate or modify the "at-will" nature of the parties' relationship; (iv) the Participant acknowledges that they have been advised of their right to consult with an attorney about this Agreement and has been given an opportunity to do so; (v) the Participant acknowledges that if they are being initially hired by the Company that they received a copy of this Agreement with their first formal offer of employment from the Company or at least ten (10) business days before commencement of the Participant's employment by the Company, whichever came first; and if the Participant was already employed by the Company at the time of signing this Agreement, that the Participant was provided a copy hereof at least ten (10) business days before the effective date of this Agreement. Under no circumstances will the obligations in Section 11(b)(1) become effective until ten (10) business days have passed since the Participant received this Agreement; (vi) the tolling language in Section 11(e)(4) shall only apply to any breach of Section 11(b)(2) (*i.e.*, the tolling language shall not apply to Section 11(b)(1)); and (vii) any dispute relating to or arising out of Section 11 shall be exclusively finally resolved by a state or federal court located in the county where the Participant resides or the business litigation session of the superior court in Suffolk County, Massachusetts and the parties to this Agreement hereby consent to personal jurisdiction therein.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(11)&nbsp;&nbsp;&nbsp;&nbsp;Minnesota Addendum.** Notwithstanding anything in the Agreement or the Addendum to the contrary, while the Participant resides or is primarily assigned to work in Minnesota during their employment by the Company or any of its Subsidiaries or Affiliates, then for so long as the Participant resides or is primarily assigned to work in Minnesota: The Governing Law clause in Section 12 shall not be applied to deprive the Participant of the protections or benefits of Minnesota law, and nothing in this Agreement shall require the Participant to litigate a claim relating to Section 11 outside of Minnesota. In addition, the non-compete in Section 11(b)(1) shall not apply after the Participant's employment with the Company (or its Subsidiary or Affiliate) ends.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(12)&nbsp;&nbsp;&nbsp;&nbsp;Missouri Addendum.** If a court of competent jurisdiction deems that Missouri law applies, then: the definition of "Covered Employee" will be modified to exclude from its definition any employee who provides only secretarial or clerical services.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(13)&nbsp;&nbsp;&nbsp;&nbsp;Nebraska Addendum.** If a court of competent jurisdiction deems that Nebraska law applies, then: (a) the definitions of "Covered Customer," "Covered Referral Source," and "Key Business Relationship" shall be further limited to those Covered Customers, Covered Referral Sources, and Key Business Relationships with which the Participant, alone or in combination with others, handled, serviced, or solicited at any time during the Look Back Period; and (b) the non-compete in Section 11(b)(1) shall not apply after the Participant's employment with the Company (or its Subsidiary or Affiliate) ends.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(14)&nbsp;&nbsp;&nbsp;&nbsp;Nevada Addendum.** If a court of competent jurisdiction deems that Nevada law applies, then: (i) the Participant acknowledges that the equity they receive under this Agreement is mutually agreed upon consideration that is valuable and sufficient to make the covenants in Section 11(b)(1) to be immediately binding and enforceable against them; (ii) nothing in Section 11(b) precludes the Participant from providing services to any former customer, resident, patient, referral source, investor, equity or financing source, or consultant of the Company if: (A) the Participant did not solicit the former customer, resident, patient, referral source, investor, equity or financing source, or consultant; (B) the customer, resident, patient, referral source, investor, equity or financing source, or consultant voluntarily chose to leave and seek services from the Participant; and (C) the Participant is otherwise complying with the limitations in Section 11 of this Agreement as to time, geographical area, and scope of activity to be restrained; and (iii) if the Participant's employment with the Company (or its Subsidiary or Affiliate) is terminated as a result of a reduction in force, reorganization, or similar restructuring of the Company (or its Subsidiary or Affiliate), the noncompetition covenant in Section 11(b)(1) will only be enforceable during the period in which the Company is paying the Participant's salary, benefits, or equivalent compensation, including without limitation, severance pay, if it elects to make such a payment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(15)&nbsp;&nbsp;&nbsp;&nbsp;New Hampshire Addendum.** If a court of competent jurisdiction deems that New Hampshire law applies, then the Participant acknowledges that the Participant was given a copy of this Agreement prior to an offer of employment.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(16)&nbsp;&nbsp;&nbsp;&nbsp;New York Addendum.** If a court of competent jurisdiction deems that New York law applies, then: the definitions of "Covered Customer," "Covered Referral Source," and "Key Business Relationship" shall be modified to exclude from its definition any customers, residents, patients, referral sources, investors, equity or financing sources, or consultants of the Company or any Subsidiary or Affiliate which entered into a business relationship with the Company (or its Subsidiary or Affiliate) as a result of the Participant's independent contact and business development efforts with the customer prior to and independent from the Participant's employment with the Company (or its Subsidiary or Affiliate). However, the Participant agrees that after a period of two years from the start of their employment with the Company (or its Subsidiary or Affiliate), the Company (or its Subsidiary or Affiliate) will have invested sufficient time, financial support and effort in developing and serving any such customers, residents, patients, referral sources, investors, equity or financing sources, or consultants, to support the application of the non-solicit obligations. Accordingly, two years following the start of the Participant's employment with the Company (or its Subsidiary or Affiliate), this modification shall not apply.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(17)&nbsp;&nbsp;&nbsp;&nbsp;North Carolina Addendum.** If a court of competent jurisdiction deems that North Carolina law applies, then: the Look Back Period shall be calculated looking back one year from the date the employment ends or two years from the date of enforcement and not from the date employment ends, whichever provides the Company the greatest protection and is enforceable under applicable law. Further, the Participant understands the non-solicitation obligations in Section 11(b)(2) of the Addendum shall be limited to the Territory.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(18)&nbsp;&nbsp;&nbsp;&nbsp;Oklahoma Addendum.** If a court of competent jurisdiction deems that Oklahoma law applies, then: (i) the non-competition restrictions in Section 11(b)(1) shall not apply after the Participant's employment with the Company (or its Subsidiary or Affiliate) ends; and (ii) the Covered Customer, Covered Referral Source, and Key Business Relationship non-solicit obligations shall all be amended to provide that notwithstanding anything in them to the contrary, the Participant shall be permitted to engage in the same business as that conducted by the Company or in a similar business as long as the Participant does not directly solicit the sale of goods, services or a combination of goods and services from the established customers, residents or patients of the Company or its Subsidiary or Affiliate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(19)&nbsp;&nbsp;&nbsp;&nbsp;Oregon Addendum.** If a court of competent jurisdiction deems that Oregon law applies, then: (i) unless the Company chooses to compensate the Participant as allowed under the Oregon Noncompete Act (Or. Rev. Stat. § 653 et seq.), the restrictions in Section 11(b)(1) shall only apply to the Participant if: (A) they are engaged in administrative, executive or professional work and perform predominantly intellectual, managerial, or creative tasks, exercise discretion and independent judgment and earn a salary and am paid on a salary basis; (B) the Company has a "protectable interest" (meaning, access to trade secrets or competitively sensitive confidential business or professional information that otherwise would not qualify as a trade secret, including product development plans, product launch plans, marketing strategy or sales plans); and (C) the total amount of the Participant's annual gross salary and commission, calculated on an annual basis, at the time of my termination, exceeds $116,427 (or the earnings threshold in effect based on annual adjustment for inflation pursuant to

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the Consumer Price Index for All Urban Consumers, West Region (All Items), as published by the Bureau of Labor Statistics of the United States Department of Labor immediately preceding the calendar year of the Participant's termination). (ii) In addition, if the Participant is a new employee, the Participant acknowledges that they were notified in a written offer of employment received two weeks before the commencement of employment that a noncompetition agreement was a condition of employment. (iii) In addition, nothing in this Agreement prevents the Participant from disclosing or discussing conduct (a) that constitutes discrimination prohibited by ORS 659A.030 (Discrimination because of race, color, religion, sex, sexual orientation, gender identity, national origin, marital status, age or expunged juvenile record prohibited), including conduct that constitutes sexual assault, or by ORS 659A.082 (Discrimination against person for service in uniformed service prohibited) or 659A.112 (Employment discrimination), and (b) that occurred between employees or between an employer and an employee in the workplace or at a work-related event that is off the employment premises and coordinated by or through the employer, or between an employer and an employee off the employment premises.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(20)&nbsp;&nbsp;&nbsp;&nbsp;South Carolina Addendum.** If a court of competent jurisdiction deems that South Carolina law applies, then: the Participant understands the non-solicitation obligations in Section 11(b)(2) of the Addendum shall be limited to the Territory.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(21)&nbsp;&nbsp;&nbsp;&nbsp;South Dakota Addendum.** If a court of competent jurisdiction deems that South Dakota law applies, then: the Participant understands nothing in the covered customer, covered referral source or key business relationship non-solicitation obligations in Sections 11(b)(2)(ii), 11(b)(2)(iii), and 11(b)(2)(iv) shall restrict the Participant from accepting business from a Covered Customer, Covered Referral Source or Key Business Relationship so long as the Participant did not solicit, assist in soliciting, facilitate the solicitation of, provide, or offer to provide services to the Covered Customer, Covered Referral Source, or Key Business Relationship (regardless of who first initiated contact) or use Confidential Information to encourage or induce the Covered Customer, Covered Referral Source, or Key Business Relationship to withdraw, curtail, or cancel its business with the Company or in any other manner modify or fail to enter into any actual or potential business relationship with the Company. To the extent necessary and required for enforcement, the restricted area covered by the non-solicitation obligations in Sections 11(b)(2)(ii), (iii), and (iv) shall be understood to include the South Dakota counties of Aurora, Beadle, Bennett, Bon Homme, Brookings, Brown, Brule, Buffalo, Butte, Campbell, Charles Mix, Clark, Clay, Codington, Corson, Custer, Davison, Day, Deuel, Dewey, Douglas, Edmunds, Fall River, Faulk, Grant, Gregory, Haakon, Hamlin, Hand, Hanson, Harding, Hughes, Hutchinson, Hyde, Jackson, Jerauld, Jones, Kingsbury, Lake, Lawrence, Lincoln, Lyman, Marshall, McCook, McPherson, Meade, Mellette, Miner, Minnehaha, Moody, Pennington, Perkins, Potter, Roberts, Sanborn, Oglala Lakota, Spink, Stanley, Sully, Todd, Tripp, Turner, Union, Walworth, Yankton, Ziebach, so long as the Company does business therein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(22)&nbsp;&nbsp;&nbsp;&nbsp;Virginia Addendum.** If a court of competent jurisdiction deems that Virginia law applies, then: (i) the parties agree that the non-competition and non-solicitation obligations are reasonably limited in nature and do not prohibit employment with a competing business in a non-competitive position; (ii) if the Participant resides in Virginia and their average

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weekly earnings calculated as provided for under Code of Virginia § 40.1-28.7:8 (the "Virginia Act"), are less than the average weekly wage of the Commonwealth as determined pursuant to subsection B of § 65.2-500, the Participant is employed in a non-exempt position, or the Participant otherwise qualifies as a "low-wage employee" under the Virginia Act then the non-competition obligations in Section 11(b)(1) shall not apply to the Participant; and (iii) nothing that constitutes a "covenant not to compete" as defined by the Virginia Act shall restrict the Participant from providing a service to a Covered Customer, Covered Referral Source, or Key Business Relationship if the Participant does not initiate contact with or solicit the Covered Customer, Covered Referral Source, or Key Business Relationship.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(23)&nbsp;&nbsp;&nbsp;&nbsp;Washington Addendum.** Notwithstanding anything in the Agreement or the Addendum to the contrary, while the Participant resides or is primarily assigned to work in Washington during their employment by the Company or any of its Subsidiaries or Affiliates, then for so long as the Participant resides or is primarily assigned to work in Washington:

The Governing Law clause in Section 12 shall not be applied to deprive the Participant of the protections or benefits of the Washington Noncompete Act (Rev. Code of Wash. (RCW) §§ 49.62.005 - 900) (the "Washington Act") and nothing in this Agreement shall require the Participant to litigate a claim relating to this Section 11 outside of Washington. The definition of the "Non-Solicit Restricted Period" is modified to include a period of eighteen (18) months immediately following the date of the Participant's termination from the Company (or its Subsidiary or Affiliate). Unless or until the Participant's earnings from the Company (or its Subsidiary or Affiliate) over the prior year (or the portion thereof for which the Participant was employed), when annualized, exceed the equivalent of $126,859 per year or the then inflation-adjusted equivalent in accordance with the requirements of the Washington Act: (i) Section 11(b)(2)(i) of this Addendum is modified to only prohibit solicitation by the Participant of any Covered Employee of the Company to leave employment with the Company; (ii) Section 11(b)(2)(ii) of this Addendum is modified to only prohibit solicitation by the Participant of any Covered Customer to cease or reduce the extent to which it is doing business with the Company; in accordance with the definition of an enforceable "Nonsolicitation Agreement" under the Washington Act; and (iii) the non-competition covenant in Section 11(b)(1), the Covered Referral Source non-solicit in Section 11(b)(2)(iii), and the Key Business Relationship non-solicit in Section 11(b)(2)(iv) will not be or become enforceable against the Participant. "Covered Customer" means a current customer (including a resident or patient) of the Company or any Subsidiary or Affiliate or any of their successors or assigns that the Participant had material contact with during the Look Back Period and that/who is engaged in business with the Company or its Subsidiary or Affiliate at the time of solicitation. Material contact will be presumed present if in Look Back Period the Participant (or persons under the Participant's supervision) had contact with the customer, resident, or patient, or the Participant was provided Confidential Information about the customer, resident, or patient, or the Participant received commissions or other beneficial credit for business conducted with the customer, resident, or patient. Nothing in this Agreement shall restrict the Participant from having an additional job, supplementing their income by working for another employer, working

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as an independent contractor, or being self-employed if the Participant does not earn at least twice the Washington minimum hourly wage, though the Participant will still be subject to the common law duty of loyalty. Further, in addition to the other forms of Protected Conduct, nothing in the Agreement prohibits disclosure or discussion of conduct the Participant reasonably believes to be illegal discrimination, illegal harassment, illegal retaliation, a wage and hour violation, or sexual assault, or that is recognized as against a clear mandate of public policy. The Participant further acknowledges that they had advance notice of the terms of this Agreement (including the Addendum) prior to accepting the Company's (or any of its Subsidiaries' or Affiliates') verbal or written offer of employment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(24)&nbsp;&nbsp;&nbsp;&nbsp;Wisconsin Addendum.** If a court of competent jurisdiction deems that Wisconsin law applies, then: (i) the tolling language in Section 11(e)(4) shall not apply; (ii) the definition of "Covered Employee" shall be modified to be further limited to those employees who are either entrusted with Confidential Information or employed in a position essential to the management, organization, or service of the business (such as, but not limited to maintaining the Company's or its Subsidiary's or Affiliate's customer and other key relationships); and (iii) the Participant understands that the obligations in Sections 11(b)(2)(i), 11(b)(2)(iii), and 11(b)(2)(iv) of the Addendum are limited to the Territory.

## Exhibit 10.3

**Exhibit 10.3**

**Portions of this exhibit that have been marked by [\*\*\*] have been omitted because the Registrant has determined they are not material and would likely cause competitive harm to the Registrant if publicly disclosed.**

**PERFORMANCE-BASED RESTRICTED STOCK UNIT AGREEMENT<br>UNDER THE BROOKDALE SENIOR LIVING INC.<br>2024 OMNIBUS INCENTIVE PLAN**

This Award Agreement, including the Addendum hereto (this "Agreement"), dated as of February 12, 2026 (the "Date of Grant"), is made by and between Brookdale Senior Living Inc., a Delaware corporation (the "Company"), and Nikolas W. Stengle (the "Participant"). Capitalized terms not defined herein shall have the meaning ascribed to them in the Brookdale Senior Living Inc. 2024 Omnibus Incentive Plan (as amended and/or restated from time to time, the "Plan"). Where the context permits, references to the Company shall include any successor to the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.<u>Grant of RSUs</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)The Company hereby grants to the Participant 171,061 performance-based restricted stock units under the Plan (the "RSUs"). The RSUs are comprised of four tranches (each a "Tranche"), each of which shall be subject to the applicable performance criteria set forth below and the terms and conditions of the Plan and this Agreement.

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| | | | |
|:---|:---|:---|:---|
| | **% of Initial RSUs** | **Performance Criteria** | **Scheduled Vesting Date** |
| First Tranche | 25% | Exhibit A | February 27, 2029 |
| Second Tranche | 25% | Exhibit B | February 27, 2029 |
| Third Tranche | 25% | Exhibit C | February 27, 2029 |
| Fourth Tranche | 25% | Exhibit D | February 27, 2029 |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)Additional performance-based restricted stock units may become issuable to the Participant under the Plan as set forth in Section 2(a). If and when any such additional units become issuable, they shall be part of the applicable Tranche and subject to all of the terms and conditions of the Plan and this Agreement as RSUs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.<u>Vesting</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)<u>General</u>. Except as otherwise provided in this Section 2 and in Section 2 of the Addendum to this Agreement, vesting with respect to each Tranche is subject to the satisfaction of both the Performance Criteria and the Service Condition (each as defined below) applicable to the Tranche. Subject to the provisions set forth below, each Tranche may vest on the scheduled vesting date set forth in Section 1(a) (together with any other date on which any portion of the RSUs may vest pursuant to this Section 2 and Section 2 of the Addendum, a "Vesting Date"), with the exact percentage of each Tranche that vests to be determined by the degree to which the Company's performance results meet the applicable performance criteria set forth on <u>Exhibit A</u> through <u>Exhibit D</u> hereto (the "Performance Criteria"). Following the completion of the performance period on December 31, 2026 (for the First Tranche), December 31, 2027 (for the Second Tranche), and December 31, 2028 (for the Third Tranche and Fourth Tranche) (as applicable, the "Measurement Date"), the Administrator shall determine the Company's performance results relative to the applicable Performance Criteria. If the

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Company's performance results are less than 100% on the scale set forth in the applicable Performance Criteria, any RSUs comprising a portion of the applicable Tranche that is not earned shall be forfeited and be deemed no longer to be part of this Agreement effective as of the Measurement Date. If the Company's performance results exceed 100% on the scale set forth in the applicable Performance Criteria, the Company shall issue such number of additional RSUs as calculated in the applicable Exhibit (the "Additional RSUs"), which shall become part of the applicable Tranche effective as of the applicable Measurement Date. Except as otherwise specifically set forth in this Agreement and Section 2 of the Addendum to this Agreement, vesting of any portion of the RSUs on any Vesting Date is subject to the continued Service of the Participant with the Company or one of its Subsidiaries or Affiliates (or a successor to any of them) from the Date of Grant to such Vesting Date (the "Service Condition"), and upon termination of the Participant's Service with the Company and its Subsidiaries and Affiliates for any reason, all unvested RSUs outstanding as of the date of such termination shall automatically and without notice terminate and be forfeited and neither the Participant nor any of the Participant's successors, heirs, assigns, or personal representatives shall thereafter have any further rights or interests in such RSUs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)<u>Award Not Assumed Following Change in Control</u>. Upon the occurrence of a Change in Control, if the RSUs that are outstanding effective immediately prior to such Change in Control are not assumed, continued or substituted with an award relating to a publicly-traded security of the acquirer (or the Company) on the same terms and conditions that were applicable to such outstanding RSUs, then all such outstanding RSUs shall vest and be settled upon the consummation of the Change in Control.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)<u>Award Assumed Following Change in Control</u>. Upon the occurrence of a Change in Control in which the RSUs that are outstanding effective immediately prior to such Change in Control are assumed, continued or substituted with an award relating to a publicly-traded security of the acquirer (or the Company) on the same terms and conditions that were applicable to such outstanding RSUs, then such outstanding RSUs shall continue to vest subject to the Service Condition, and the Performance Criteria with respect to a particular Tranche shall no longer apply if the Change in Control occurs prior to the Measurement Date applicable to such Tranche (and for the avoidance of doubt, no Additional RSUs shall be paid or payable under this Agreement with respect to a particular Tranche in the event that a Change in Control occurs prior to the Measurement Date for such Tranche).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.<u>Settlement of Restricted Stock Units</u>. As soon as practicable following each Vesting Date (but in no event later than 30 days following the Vesting Date or such earlier time specified in this Agreement), the Company shall issue to the Participant the number of Shares equal to the aggregate number of RSUs that have vested pursuant to this Agreement on such date and the Participant shall thereafter have all the rights of a stockholder of the Company with respect to such Shares. Notwithstanding anything in this Agreement to the contrary, no fractional shares shall vest or be issuable under this Agreement, and any such fractional shares shall be rounded down to the next whole share; *provided*, that the Administrator may, in its sole discretion, provide a cash payment in lieu of any such fractional share.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.<u>Rights as a Stockholder</u>. Section 4 of the Addendum is incorporated herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.<u>Adjustments</u>. Pursuant to Section 5 of the Plan, in the event of a Change in Capitalization as described therein, the Administrator shall make such equitable changes or adjustments, as it deems necessary or appropriate, in its discretion, to the number and kind of securities or other property (including cash) issued or issuable in respect of outstanding RSUs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.<u>Certain Changes</u>. The Administrator may accelerate the vesting dates or otherwise adjust any of the terms of the RSUs; provided that, subject to Section 5 of the Plan, Section 11(f)

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of the Addendum to this Agreement and Section 22 of this Agreement, no action under this Section shall adversely affect the Participant's rights hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.<u>Notices</u>. All notices and other communications under this Agreement shall be in writing and shall be given by facsimile or first class mail, certified or registered with return receipt requested, and shall be deemed to have been duly given three days after mailing or 24 hours after transmission by facsimile to the respective parties, as follows: (i) if to the Company, at Brookdale Senior Living Inc., 105 Westwood Place, Suite 400, Brentwood, TN 37027, Facsimile: (615) 564-8204, Attn: General Counsel and (ii) if to the Participant, using the contact information on file with the Company. Either party hereto may change such party's address for notices by notice duly given pursuant hereto. Notwithstanding the foregoing, the Company may, in its sole discretion, decide to deliver any notice or other communications related to the RSUs, this Agreement or current or future participation in the Plan by electronic means. The Participant hereby consents to receive such notices and other communications by electronic delivery and agrees to participate in the Plan through an online or electronic system established and maintained by the Company or a third party designated by the Company (including the Company's stock plan service provider's website).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.<u>Taxes</u>. The Participant has reviewed with the Participant's own tax advisors the Federal, state, local and foreign tax consequences of the transactions contemplated by this Agreement. The Participant is relying solely on such advisors and not on any statements or representations of the Company or any of its agents. The Participant acknowledges and agrees that the Participant is responsible for the tax consequences associated with the award and vesting of the RSUs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.<u>Withholding</u>. Delivery of Shares is conditioned upon the Participant's making arrangements satisfactory to the Administrator regarding payment of income and employment tax withholding requirements as set forth in Section 15 of the Plan; provided, however, that the Participant may elect, without the consent of the Company, to have the Company withhold from delivery of Shares issuable upon the settlement of the RSUs such number of Shares having a Fair Market Value not exceeding the applicable taxes to be withheld and applied to the tax obligations of the Participant as determined by the Company. In making its determination, the Company may calculate such amount by taking into account applicable withholding rates not exceeding the maximum individual statutory tax rates in the Participant's applicable jurisdictions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.<u>Failure to Enforce Not a Waiver</u>. The failure of the Company to enforce at any time any provision of this Agreement shall in no way be construed to be a waiver of such provision or of any other provision hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.<u>Restrictive Covenants</u>. The provisions of Section 11 of the Addendum to this Agreement are incorporated herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.<u>Governing Law</u>. This Agreement shall be governed by and construed according to the laws of the State of Delaware without regard to its principles of conflict of laws. If during the Participant's Service with the Company, the Participant primarily resides or is primarily assigned to the Company or one of its Subsidiary or Affiliate location(s) in California, Colorado, Minnesota, or Washington, then for so long as the Participant primarily resides in such state or is

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primarily assigned to location(s) in such states during the Participant's Service, this Section 12 shall not apply to the covenants in Section 11 of the Addendum.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.<u>Incorporation of Plan</u>. The Plan is hereby incorporated by reference and made a part hereof, and the RSUs and this Agreement shall be subject to all terms and conditions of the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.<u>Amendments; Construction</u>. The Administrator may amend the terms of this Agreement prospectively or retroactively at any time, but no such amendment shall impair the rights of the Participant hereunder without the Participant's consent. Headings to Sections of this Agreement are intended for convenience of reference only, are not part of this Agreement and shall have no effect on the interpretation hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.<u>Survival of Terms</u>. This Agreement shall apply to and bind the Participant and the Company and their respective permitted assignees and transferees, heirs, legatees, executors, administrators and legal successors. The terms of Section 11 of the Addendum to this Agreement and Section 22 of this Agreement shall expressly survive the vesting and/or forfeiture of the RSUs and any expiration or termination of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.<u>Compliance with Stock Ownership and Retention Guidelines</u>. The Participant hereby agrees to comply with the Company's Stock Ownership and Retention Guidelines (as amended from time to time, the "Guidelines"), to the extent such Guidelines are applicable, or become applicable, to the Participant. The Participant further acknowledges that, if the Participant is not in compliance with such Guidelines (if applicable), the Administrator may refrain from issuing additional equity awards to the Participant and/or elect to pay the Participant's annual bonus in the form of vested or unvested Common Stock.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.<u>Agreement Not a Contract for Services</u>. Neither the Plan, the granting of the RSUs, this Agreement nor any other action taken pursuant to the Plan shall constitute or be evidence of any agreement or understanding, express or implied, that the Participant has a right to continue to provide Services as an officer, director, employee, consultant or advisor of the Company or any Subsidiary or Affiliate for any period of time or at any specific rate of compensation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18.<u>Restrictions</u>. The RSUs may not be sold, transferred, pledged, assigned or otherwise encumbered or disposed of by the Participant, and any Shares issuable with respect to the RSUs may not be sold, transferred, pledged, assigned or otherwise encumbered or disposed of until such Shares have been issued to the Participant upon vesting of the RSUs in accordance with the terms of the Plan and this Agreement. Unless the Administrator determines otherwise, upon any attempt to transfer RSUs or any rights in respect of RSUs before the lapse of such restrictions, such RSUs, and all of the rights related thereto, shall be immediately forfeited by the Participant and transferred to, and reacquired by, the Company without consideration of any kind.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.<u>Authority of the Administrator</u>. The Administrator shall have full authority to interpret and construe the terms of the Plan and this Agreement (including, without limitation, the authority to determine whether, and the extent to which, any Performance Criteria have been achieved). Pursuant to the terms of the Plan, the Administrator shall also have full authority to make equitable adjustments to the Performance Criteria in recognition of unusual or non-recurring events affecting the Company or any Subsidiary or Affiliate or the financial statements of the Company or any Subsidiary or Affiliate, in response to changes in applicable laws or regulations, or to account for items of gain, loss or expense determined to be extraordinary or unusual in nature or infrequent in occurrence or related to the disposal of a segment of a business

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or related to a change in accounting principles. The determination of the Administrator as to any such matter of interpretation or construction shall be final, binding and conclusive.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20.<u>Severability</u>. Should any provision of this 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 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 Agreement. Moreover, if one or more of the provisions contained in this 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 provision or provisions in any other jurisdiction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21.<u>Acceptance</u>. The Participant hereby acknowledges receipt of a copy of the Plan and this Agreement. The Participant has read and understands the terms and provisions of the Plan and this Agreement, and accepts the RSUs subject to all the terms and conditions of the Plan and this Agreement. The Participant hereby agrees to accept as binding, conclusive, and final all decisions or interpretations of the Administrator upon any questions arising under this Agreement. By the Participant's electronically accepting the award of the RSUs using an online or electronic system established and maintained by the Company or a third party designated by the Company (including the Company's stock plan service provider's website), the Participant agrees to be bound by the terms and conditions of the Plan and this Agreement. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which shall constitute one and the same instrument. The Participant's electronic acceptance of the award of the RSUs shall have the same validity and effect as a signature affixed to this Agreement by the Participant's hand. The Participant understands their participation in the terms of the Plan and this Agreement through acceptance of RSUs is entirely voluntary, and is not a term and/or condition of Service but is instead an award granted on a discretionary basis to align the Participant's interests with those of the Company's stockholders and is an award that the Participant is free to decline at the Participant's discretion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22.<u>Clawback</u>. Notwithstanding anything herein to the contrary, the RSUs (including any Shares issued to the Participant upon settlement thereof) shall be subject to forfeiture, reduction, and/or recoupment (i) to the extent provided in the Company's Clawback and Forfeiture Policy, as it may be amended from time to time; (ii) to the extent that the Participant becomes subject to any other recoupment or clawback policy hereafter adopted by the Company, including any such policy adopted by the Company to comply with the requirements of any applicable laws, rules, regulations, or stock exchange listing requirements, including pursuant to final SEC rules under the Dodd-Frank Wall Street Reform and Consumer Protection Act, or (iii) to the extent provided under applicable legal requirements which impose recoupment, under circumstances set forth in such applicable legal requirements, including the Sarbanes-Oxley Act of 2002.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23.<u>Section 409A</u>. This Agreement shall be interpreted in such a manner that all provisions relating to the settlement of the RSUs are exempt from the requirements of Section 409A of the Code as "short-term deferrals" as described in Section 409A of the Code. Notwithstanding anything to the contrary in this Agreement or an accompanying election form executed by the Participant, if (i) on the date of the Participant's Separation from Service with the Company the Participant is a "specified employee" (as such term is defined under Section 1.409A-1(i) of the Treasury Regulations promulgated under Section 409A of the Code) of the Company and (ii) any payments to be provided to the Participant pursuant to this Agreement are

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or may become subject to the additional tax under Section 409A(a)(1)(B) of the Code, or any other taxes or penalties imposed under Section 409A of the Code if provided at the time otherwise required under this Agreement, then such payments shall be delayed until the date that is six months after the date of the Participant's separation from service from the Company, or if earlier, his or her death. Any payments delayed pursuant to this paragraph shall be made in a lump sum on the first day of the seventh month following the Participant's separation from service, or if earlier, the Participant's death. Each payment upon settlement of RSUs (and any related dividend or related dividend equivalent rights) constitutes a "separate payment" for purposes of Section 409A of the Code. Notwithstanding any other provision of this Agreement, if and to the extent that any payment under this Agreement constitutes non-qualified deferred compensation under Section 409A of the Code, and is payable upon (i) the Participant's termination of Service, then such payment shall be made or provided to the Participant only upon a "separation from service" as defined for purposes of Section 409A of the Code, or (ii) a Change in Control, then such payment shall be made or provided to the Participant only upon a "change in the ownership", a "change in effective control" or a "change in the ownership of a substantial portion of the assets" of the applicable corporation as defined for purposes of Section 409A of the Code.

*[signature page follows]*

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&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;

IN WITNESS WHEREOF, the parties hereto have executed and delivered this Agreement as of the day and year first above written.

**BROOKDALE SENIOR LIVING INC.**

By: &nbsp;&nbsp;&nbsp;&nbsp; <u>/s/ Chad C. White&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>

Name: &nbsp;&nbsp;&nbsp;&nbsp;Chad C. White

Title: &nbsp;&nbsp;&nbsp;&nbsp;Executive Vice President, General Counsel

&nbsp;&nbsp;&nbsp;&nbsp; and Secretary

**PARTICIPANT**

<u>/s/ Nikolas W. Stengle&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u><br> Nikolas W. Stengle

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**<u>EXHIBIT A</u>**

**2026 Adjusted EBITDA\***

Vesting of the First Tranche (plus any Additional RSUs that become issuable pursuant to Section 2(a) of the Agreement) will be dependent upon the Company's Adjusted EBITDA for fiscal 2026 as set forth in the grid below, with vesting to be interpolated on a straight-line basis between the applicable levels based on actual results. Adjusted EBITDA means the Adjusted EBITDA as reported by the Company in its Annual Report on Form 10-K, earnings release and/or supplemental information for the year ended December 31, 2026.

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| | |
|:---|:---|
| **2026 Adjusted EBITDA** | **% of Target First Tranche to Vest** |
| $[\*\*\*]million (Maximum) | 175% |
| $[\*\*\*]million (Target) | 100% |
| $[\*\*\*]million (Threshold) | 50% |
| Below $[\*\*\*] million | No Vesting |

---

\*Subject in all cases to the terms of the Plan and the Agreement, including the discretionary and interpretative authority of the Administrator set forth in the Plan and the Agreement.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**<u>EXHIBIT B</u>**

**2027 Adjusted EBITDA Growth\***

Vesting of the Second Tranche (plus any Additional RSUs that become issuable pursuant to Section 2(a) of the Agreement) will be dependent upon the Company's one-year growth of Adjusted EBITDA for fiscal 2027 compared to a base year of fiscal 2026 as set forth in the grid below, with vesting to be interpolated on a straight-line basis between the applicable levels based on actual results. Adjusted EBITDA means the Adjusted EBITDA as reported by the Company in its Annual Report on Form 10-K, earnings release and/or supplemental information for the year ended December 31, 2027.

---

| | |
|:---|:---|
| **Growth Rate** | **% of Target Second Tranche to Vest** |
| [\*\*\*]% or Above (Maximum) | 175% |
| [\*\*\*]% (Target) | 100% |
| [\*\*\*]% (Threshold) | 50% |
| Below [\*\*\*]% | No Vesting |

---

\*Subject in all cases to the terms of the Plan and the Agreement, including the discretionary and interpretative authority of the Administrator set forth in the Plan and the Agreement.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**<u>EXHIBIT C</u>**

**2028 Adjusted EBITDA Growth\***

Vesting of the Third Tranche (plus any Additional RSUs that become issuable pursuant to Section 2(a) of the Agreement) will be dependent upon the Company's one-year growth of Adjusted EBITDA for fiscal 2028 compared to a base year of fiscal 2027 as set forth in the grid below, with vesting to be interpolated on a straight-line basis between the applicable levels based on actual results. Adjusted EBITDA means the Adjusted EBITDA as reported by the Company in its Annual Report on Form 10-K, earnings release and/or supplemental information for the year ended December 31, 2028.

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| | |
|:---|:---|
| **Growth Rate** | **% of Target Third Tranche to Vest** |
| [\*\*\*]% or Above (Maximum) | 175% |
| [\*\*\*]% (Target) | 100% |
| [\*\*\*]% (Threshold) | 50% |
| Below [\*\*\*]% | No Vesting |

---

\*Subject in all cases to the terms of the Plan and the Agreement, including the discretionary and interpretative authority of the Administrator set forth in the Plan and the Agreement.

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**<u>EXHIBIT D</u>**

**Relative TSR\***

Vesting of the Fourth Tranche (plus any Additional RSUs that become issuable pursuant to Section 2(a) of the Agreement) will be dependent upon the Company's TSR ranking relative to the TSRs of the companies in the two Comparator Groups (equally weighted) during the Performance Period as set forth in the grid below, with vesting to be interpolated on a straight-line basis between the applicable levels based on actual results; provided, however, that in no event shall any Additional RSUs (above 100%) vest and be issued with respect to the Fourth Tranche if the Company's TSR is negative for the Performance Period.

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| | |
|:---|:---|
| **Relative TSR Performance** | **% of Target Fourth Tranche to Vest** |
| 75th Percentile or Above (Maximum) | 175% |
| 50th Percentile (Target) | 100% |
| 25th Percentile (Threshold) | 50% |
| Below 25th Percentile | No Vesting |

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For purposes of the foregoing:

• Performance Period shall mean January 1, 2026 through December 31, 2028.

• The first Comparator Group shall mean the constituent companies of the Russell 3000 index and the second Comparator Group shall mean the public companies that comprise the GICS 35102020 (Healthcare facilities) as of the beginning of the Performance Period, except that in each case that any such companies that have been acquired or delisted from a national securities exchange during the Performance Period will be excluded. For purposes of testing results, the Company's relative TSR will be tested against each Comparator Group weighted 50% each.

• TSR shall mean the compound annual total stockholder return calculated using a beginning price equal to the average closing price over the 20-trading days preceding the beginning of the Performance Period, using an ending price equal to the average closing price over the 20-trading days immediately prior to the end of the Performance Period, and assuming the reinvestment of any dividends or distributions as of the ex-dividend date.

\*Subject in all cases to the terms of the Plan and the Agreement, including the discretionary and interpretative authority of the Administrator set forth in the Plan and the Agreement.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**ADDENDUM TO<br>PERFORMANCE-BASED RESTRICTED STOCK UNIT AGREEMENT<br>UNDER THE BROOKDALE SENIOR LIVING INC.<br>2024 OMNIBUS INCENTIVE PLAN.**

**Section 2:**

Notwithstanding Section 2 or anything in the Agreement to the contrary:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;In the event that the Participant's Service with the Company and its Subsidiaries and Affiliates (or a successor to any of them) is terminated within eighteen (18) months following a Change in Control by the Company (or such other entity) without Cause or by the Participant for Good Reason (as defined in the Employment Agreement by and between the Company and the Participant dated as of October 1, 2025 (the "Employment Agreement")), then the RSUs that are outstanding effective on the date of such termination shall vest effective upon such termination and be settled within 30 days following such termination.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) &nbsp;&nbsp;&nbsp;&nbsp;In the event that the Participant's Service with the Company and its Subsidiaries and Affiliates is terminated by the Company without Cause or by the Participant with Good Reason (other than as described in paragraph (i) above) or on account of the Participant's death or Disability, the following percentages of the applicable Tranches that are outstanding effective on the date of such termination of employment shall remain outstanding following such termination and shall be eligible to vest (including any Additional RSUs) subject to the achievement of the Performance Criteria as if the Service Condition shall have been met as of the applicable Vesting Date:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) &nbsp;&nbsp;&nbsp;&nbsp;100% of the First Tranche and 33.33% of the Fourth Tranche for such termination that occurs on or prior to February 27, 2027 (with 100% of the Second Tranche and Third Tranche, and 66.67% of the Fourth Tranche, to be forfeited at termination);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) &nbsp;&nbsp;&nbsp;&nbsp;100% of the First Tranche and Second Tranche, and 66.67% of the Fourth Tranche, for such termination that occurs after February 27, 2027 and on or prior to February 27, 2028 (with 100% of the Third Tranche and 33.33% of the Fourth Tranche to be forfeited at termination); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C)&nbsp;&nbsp;&nbsp;&nbsp;100% of the First Tranche, Second Tranche, Third Tranche, and Fourth Tranche, for such termination that occurs after February 27, 2028 and on or prior to February 27, 2029.

Notwithstanding the foregoing, (A) in the event of a Change in Control following a termination event described in this subparagraph (ii), the RSUs outstanding effective immediately prior to such Change in Control shall vest and be settled upon the consummation of the Change in Control; and (B) in the event the Participant's employment is terminated on account of Disability and the Participant did not actively provide services on at least one day in the one-year period immediately preceding the date set forth in clause (A) or the later date set forth in the applicable clause (B), or (C), then the treatment of the outstanding Tranches shall be

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as set forth in the earlier clause for which the Participant actively provided services at least one day in the one-year period immediately preceding such date or later date, as applicable, set forth in such clause (and in the event that the Participant did not actively provide services on at least one day in the one-year period immediately preceding the date set forth in clause (A), then 100% of the Tranches shall be forfeited at termination).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;In the event the Participant retires from the Company and its Subsidiaries and Affiliates (A) on or after attaining age sixty (60) with a minimum of five (5) years of service with the Company and its Subsidiaries and Affiliates and (B) after providing no less than six (6) months' advance written notice to the Company of the anticipated Retirement, the following percentages of the Tranches that are outstanding effective on the date of such Retirement shall remain outstanding following such Retirement and shall be eligible to vest (including any Additional RSUs) subject to the achievement of the Performance Criteria as if the Service Condition shall have been met as of the applicable Vesting Date:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;&nbsp;&nbsp;for a Retirement date that occurs prior to February 12, 2027, the percentage equal to the number of full months employed since the Date of Grant divided by 12 (with the remaining percentage of the Tranches to be forfeited upon the date of such Retirement); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;&nbsp;&nbsp;&nbsp;for a Retirement date that occurs on or after February 12, 2027, 100% of the Tranches.

In the event the Participant's service with the Company and its Subsidiaries and Affiliates (or a successor to any of them) is terminated for any reason and the Participant resumes service with the Company within five (5) years from the date of termination, the minimum of five (5) years of service with the Company and its Subsidiaries and Affiliates required for eligibility in clause (iii)(A) will include such service with the Company completed prior to the initial termination for purposes of determining eligibility under this clause (iii).

**Section 4:** 

The Participant shall have no voting rights with respect to RSUs outstanding on any applicable record date. Any ordinary or extraordinary cash or stock dividend that may be declared and paid on the Common Stock with a record date on or after the Date of Grant and prior to the settlement date of the RSUs shall be deposited (in the same form as was payable to the holders of Common Stock) in an account and be paid upon, and subject to, the vesting and settlement of the RSUs. For the avoidance of doubt, the Participant shall not be entitled to payment of dividends or dividend equivalents with respect to an RSU unless and until the vesting and settlement of such RSU in accordance with this Agreement, and all such dividends or dividend equivalents with respect to any RSU shall forfeit upon the forfeiture of such RSU.

**Section 11: <u>Commitment to Avoid Detrimental Activities</u>.** 

The Participant understands the Company has developed, and is continuing to develop, substantial relationships with actual and prospective officers, directors, employees, consultants,

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agents, customers, residents, patients, referral sources, clients, vendors, suppliers, investors, and equity and financing sources, associate and customer goodwill, and confidential and proprietary business information and trade secrets, which the Company and its Subsidiaries and Affiliates have the right to protect in order to safeguard their legitimate business interests. Any misappropriation of such relationships or goodwill, or any improper disclosure or use of the Company's and its Subsidiaries' and Affiliates' confidential and proprietary business information and trade secrets would be highly detrimental to their business interests in that serious and substantial loss of business and pecuniary damages would result therefrom. The Participant also acknowledges and recognizes that an important purpose of this Agreement is to align the interests of the Participant with those of the Company's stockholders and to ensure that the Participant does not engage in activity detrimental to the interests of the Company's stockholders if the Participant is going to be allowed the opportunity to participate in the financial rewards that result from the RSUs and their relationship to the value of equity participation in the Company. In addition, the Participant acknowledges that an ancillary purpose consistent with protecting the interests of the stockholders arises with respect to the Participant because during the period of the Participant's employment with the Company or any Subsidiary or Affiliate, the Participant shall have access to the Company's Confidential Information (as defined below) and will meet and develop such relationships and goodwill. The Participant accordingly agrees to comply with the provisions of this Section 11 as a condition of receipt and retention of the RSUs provided for in this Agreement and their beneficial value. The Participant acknowledges and agrees not to contest or dispute the Company's position that the prohibition of unfair competition provided for in this Section 11 is inextricably connected to and part of the Company's governance of its internal affairs and relates directly to the interests of the Company's stockholders. Nothing contained in this Section 11 shall limit any common law or statutory obligation that the Participant may have to the Company or any Subsidiary or Affiliate. For purposes of this Section 11, the "Company" refers to the Company and any incorporated or unincorporated affiliates of the Company, including any entity which becomes the Participant's employer as a result of any reorganization or restructuring of the Company for any reason. The Company shall be entitled, in connection with its tax planning or other reasons, to terminate the Participant's employment (which termination shall not be considered a termination for any purposes of this Agreement, any employment agreement, or otherwise) in connection with an invitation from another affiliate of the Company to accept employment with such affiliate in which case the terms and conditions hereof shall apply to the Participant's employment relationship with such entity mutatis mutandis.

For purposes of this Section 11, "Competing Business" means a business (which shall include any sole proprietorship, partnership, limited partnership, limited liability partnership, limited liability company, corporation or other for-profit or not-for-profit business organization) (A) engaged in the business of owning, operating**,** or managing senior living facilities within the United States or (B) engaged in any other business that constitutes twenty percent (20%) or more of the Company's annualized consolidated revenues or contributes twenty percent (20%) or more of the Company's consolidated annualized net operating income at any time during the Participant's employment. Notwithstanding the foregoing, this Section 11 shall not prohibit the Participant from (i) being a passive owner of not more than 2% of the outstanding stock of any class of a company that is publicly traded so long as the Participant does

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not have any active participation in the business of such company, (ii) passively investing in private investment funds whose principal investment strategy is not directed toward investing in entities that engage in or operate in a Competing Business; or (iii) commencing employment with or providing services to either (A) a private equity or financial sponsor that owns, invests in, or operates a business that engages in a Competing Business so long as the Participant does not perform services for the entity or business that is engaged in a Competing Business or (B) a subsidiary, division, or unit of any entity that has a diversified business so long as Executive does not perform services for or in respect of the business that engages in the Competing Business so long as the Participant does not perform services for or in respect of the business that engages in the Competing Business, in each case provided that the Participant's confidentiality obligations shall continue to bind the Participant prior to and during any term of such employment or provision of services and, provided further for purposes of this clause (iii), that any such private equity or financial sponsor or diversified business does not receive at least twenty percent (20%) of its revenues from owning, investing in or operating a business that engages in a Competing Business.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(a)**&nbsp;&nbsp;&nbsp;&nbsp;**<u>Avoidance of Competition and Other Detrimental Acts During Engagement</u>.** While employed or otherwise engaged as an individual to provide services to the Company (as an employee, consultant, or otherwise), the Participant will comply with each of the restrictions and obligations below.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(1)**&nbsp;&nbsp;&nbsp;&nbsp;While employed with the Company, the Participant will comply at all times with the Participant's duty of loyalty to the Company as an employee or agent of the Company placed in a position of special trust and confidence. This duty shall be understood to include, but not be limited to,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(i)** &nbsp;&nbsp;&nbsp;&nbsp;an obligation not to engage or participate in the business of a Competing Business, or become employed with a Competing Business as an employee, owner, member, partner, consultant, director, or otherwise, without the express written consent of the Company,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(ii)** &nbsp;&nbsp;&nbsp;&nbsp;an obligation not to interfere with or otherwise knowingly cause harm to the Company's ongoing or prospective business relationship with a Company employee, consultant, or individual providing services as an independent contractor, or a supplier, distributor, vendor, customer, or other person or entity that does business with the Company or that the Company has a reasonable expectation of doing business with, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(iii)** &nbsp;&nbsp;&nbsp;&nbsp;an obligation to inform the Company of business opportunities that fall within the Company's line of business and not pursue them for personal gain separate from the Company without the Company's express written consent in advance, or otherwise participate in any conduct or relationship that creates a conflict of interest in violation of Company policies.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(2)**&nbsp;&nbsp;&nbsp;&nbsp;The Participant will not knowingly participate in or pursue activities that harm the value of the Company's intellectual property and will honor all agreements with the Company concerning the ownership and protection of proprietary works and intellectual property.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(b)**&nbsp;&nbsp;&nbsp;&nbsp;**<u>Avoidance of Competition and Other Detrimental Acts After Engagement</u>.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(1)**&nbsp;&nbsp;&nbsp;&nbsp;**<u>Noncompete</u>.** The Participant agrees that during the period of the Participant's employment with the Company or any Subsidiary or Affiliate and for the one (1) year period immediately following the termination of such employment for any reason or for no reason (the "Non-Compete Restricted Period"), the Participant shall not directly or by assisting or directing others, either as a principal, agent, employee, employer, consultant, partner, shareholder of a closely held corporation or shareholder in excess of five percent of a publicly traded corporation, corporate officer or director, or in any other individual or representative capacity, engage or otherwise participate in any manner or fashion in any business that is a Competing Business (as defined herein).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(2)&nbsp;&nbsp;&nbsp;&nbsp;<u>Solicitation of Employees, Clients, Referral Sources, Vendors, Etc.</u>** The Participant agrees that during the period of the Participant's employment with the Company or any Subsidiary or Affiliate, and for the two (2) year period immediately following the date of termination of such employment for any reason (the "Non-Solicit Restricted Period"), the Participant shall not, directly or by assisting or directing others, jointly or individually, on the Participant's own behalf or on behalf of or in assistance to any individual, person or entity:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(i)**&nbsp;&nbsp;&nbsp;&nbsp;(x) solicit, or attempt to solicit, any Covered Employee (as defined below) for employment or service with any entity other than the Company or any Subsidiary or Affiliate; or (y) recruit or facilitate the hire, or attempt to recruit or facilitate the hire, of any Covered Employee or otherwise induce or encourage any Covered Employee to terminate or sever his, her, or its employment or other relationship with the Company or any Subsidiary or Affiliate or any of their successors or assigns; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(ii)**&nbsp;&nbsp;&nbsp;&nbsp;(x) solicit business from any Covered Person (as defined below) in connection with, on behalf of or for the benefit of a Competing Business; or (y) otherwise induce or encourage any Covered Person to terminate, change, or reduce his, her, or its relationship with the Company or any Subsidiary or Affiliate or any of their successors or assigns for any reason.

Notwithstanding the foregoing, a general advertisement or solicitation for employment that is not targeted and that does not have the effect of being targeted to any current or former Covered Employee or Covered Person shall not, by itself, be deemed to be a violation of the restrictions on solicitation contained in this Section 11(b)(2). For purposes of this Section 11(b)(2), "Covered Employee" shall mean any officer, director, employee, or agent who is employed by the Company or any Subsidiary or Affiliate or any of their successors or assigns or was so employed

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or engaged at any time during the twelve (12) months prior to the Participant's termination of employment; provided, however, that any such individual who has ceased to be employed by or engaged with the Company or any Subsidiary or Affiliate for a period of at least six (6) months shall no longer be deemed a Covered Employee. "Covered Person" shall mean any customers, residents, patients, referral sources, clients, vendors, suppliers, investors, equity or financing sources, or consultants of the Company or any Subsidiary or Affiliate or any of their successors or assigns. The restrictions contained in Section 11(b)(2) are understood to be reasonably limited by geography to those locations, and counties, where the Covered Employee and Covered Person are present and available for solicitation. However, to the extent additional geographic limitations are required to make the restrictions enforceable, they shall be deemed limited to the Territory.

"Territory" means: (i) those states and counties in which the Company is engaged in business (or actively planning to engage in business in the near term) (including state and state-equivalents and county and county-equivalents therein) at the time the Participant's employment ends and/or about which the Participant was provided access to Confidential Information during the Look Back Period (as defined below); and, (ii) the state and county where the Participant resides.

"Look Back Period" means the last two years of the Participant's employment or such shorter period of time as the Participant was actually employed or engaged to provide personal services to the Company or its subsidiaries.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(c)&nbsp;&nbsp;&nbsp;&nbsp;<u>Disparaging Comments</u>.** The Company and the Participant agree that during the period of the Participant's employment with the Company or any Subsidiary or Affiliate, and any time thereafter, the Participant shall not make any disparaging or defamatory comments regarding the Company or any Subsidiary or Affiliate or any of their successors or assigns, and the Company and its Affiliates shall not make or issue any public statements which are disparaging or defamatory regarding the Participant, and after termination of such employment neither party shall make any comments concerning any aspect of the termination of their relationship. The obligations of the Company and the Participant under this Section 11(c) shall not apply to Protected Content (as defined below).

&nbsp;&nbsp;&nbsp;&nbsp;**(d)&nbsp;&nbsp;&nbsp;&nbsp;<u>Confidentiality</u>.** All books of account, records, systems, correspondence, documents, memoranda, manuals, email, electronic or magnetic recordings or data and any and all other data, or compilations of such data or information, in whatever form and any copies thereof, concerning or containing any reference to the works and business of the Company or any Subsidiary or Affiliate shall belong to the Company and shall be given up to the Company whenever the Company requires the Participant to do so, other than documents pertaining to the Participant's individual compensation (such as pay stubs and benefit plan booklets). The Participant agrees that the Participant shall not at any time during the term of the Participant's employment with the Company or any Subsidiary or Affiliate, or at any time thereafter, without the Company's prior written consent, disclose to any individual, person or entity any Confidential Information, nor will the Participant use, store, transmit, upload, copy, or download

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any Confidential Information, except as necessary in the performance of their job duties for the Company.

"Confidential Information" means any item or compilation of information or data, in whatever form (tangible or intangible), related to the Company's business that the Participant acquires or gains access to in the course of their employment with the Company that the Company has not authorized public disclosure of, and that is not readily available to the public or persons outside the Company through proper means. By way of example and not limitation, Confidential Information is understood to include: (1) any financing strategies and practices, pricing strategies, structures and methods, underlying pricing-related variables such as costs, volume discounting options, and profit margins; training and operational procedures, advertising, marketing, and sales information or methodologies or financial information, business forecasts and expansion plans; (2) information relating to the Company's or any Subsidiary's or Affiliate's or any of their customers', referral sources' or clients' practices, businesses, procedures, systems, plans or policies, client lists, or prospective client lists; (3) information relating to residents or patients and their contract terms; and (4) associate/personnel data, including contact information. Confidential Information shall be understood to include any and all Company trade secrets (as defined under applicable state or federal law), but an item need not be a trade secret to qualify as Confidential Information. An item of Confidential Information will ordinarily constitute a trade secret under state or federal law if (a) it derives independent economic value, actual or potential, from not being generally known to, and not being readily ascertainable by proper means by, other persons who can obtain economic value from its disclosure or use, and (b) it is the subject of efforts that are reasonable under the circumstances (or under federal law, using reasonable measures) to maintain its secrecy. Something is not acquired through proper means if acquired through theft, bribery, misrepresentation, breach or inducement of a breach of a duty to maintain secrecy by contract or otherwise, or espionage through electronic or other means. For purpose of clarity, it shall still be a violation of this Agreement for a non-management employee to wrongfully compete by sharing Confidential Information, which was obtained through the course of employment with the Company, with a competitor about other employees' compensation and benefits for purposes of assisting such competitor in soliciting Company employees.

The Participant hereby confirms that all Confidential Information constitutes the Company's exclusive property, and that all of the restrictions on the Participant's activities contained in this Agreement and such other nondisclosure policies of the Company are required for the Company's reasonable protection. Confidential Information shall not include any information that has otherwise been disclosed to the public not in violation of this Agreement. This confidentiality provision shall survive the termination of this Agreement and shall not be limited by any other confidentiality agreements entered into with the Company or any Subsidiary or Affiliate. Notwithstanding the foregoing, nothing in this Agreement (or any other Company policy or contract to which the Participant is or was subject) shall be construed to prohibit the Participant from communicating with any federal, state or local governmental agency or commission with oversight of the Company without notice to the Company, as provided for, protected under or warranted by applicable law. Further, the restrictions provided for in this Section 11(d) shall not be construed to prohibit the use of general knowledge and experience customarily relied upon in the Participant's trade or profession that is not specific to the

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particular business matters of the Company (such as its business transactions, customers, residents, clients, or employees).

With respect to any Confidential Information that constitutes a "trade secret" pursuant to applicable law, the restrictions described above shall remain in force for so long as the particular information remains a trade secret or for the two (2) year period immediately following termination of the Participant's employment for any reason, whichever is longer. With respect to any Confidential Information that does not constitute a "trade secret" pursuant to applicable law, the restrictions described above shall remain in force during the Participant's employment and for the two (2) year period immediately following termination of such employment for any reason. Nothing in the foregoing shall be construed to permit the Participant to recreate records of Confidential Information from memory or retain copies of Confidential Information in any form after their employment or engagement with the Company ends. The Participant understands that they should have no records of this kind in their possession or control with which to refresh their memory after the Participant's employment with the Company or any Subsidiary or Affiliate ends.

Notwithstanding anything to herein to the contrary, the Participant shall be permitted to use and disclose Confidential Information (solely as it relates to his compensation, benefits, and equity ownership) to (A) the Participant's immediate family members, (B) the Participant's attorneys, financial advisors, accountants and other professional advisors who are bound by obligations of confidentiality, or (C) any other person to which such use or disclosure is necessary (w) to effect compliance with applicable law, (x) to pursue the Participant's rights or claims under this Agreement, or (z) to pursue the Participant's rights or claims to indemnification or under directors' and officers' liability insurance policies.

The Participant agrees that the Participant shall promptly disclose to the Company in writing all information and inventions generated, conceived or first reduced to practice by the Participant alone or in conjunction with others, during or after working hours, while in the employ of the Company or any Subsidiary or Affiliate (all of which is collectively referred to in this Agreement as "Proprietary Information"); provided, however, that such Proprietary Information shall not include (a) any information that has otherwise been disclosed to the public not in violation of this Agreement and (b) general business knowledge and work skills of the Participant, even if developed or improved by the Participant while in the employ of the Company or any Subsidiary of Affiliate. All such Proprietary Information shall be the exclusive property of the Company and is hereby assigned by the Participant to the Company. The Participant's obligation relative to the disclosure to the Company of such Proprietary Information anticipated in this Section 11(d) shall continue beyond the Participant's termination of employment and the Participant shall, at the Company's expense, give the Company all assistance it reasonably requires to perfect, protect and use its right to the Proprietary Information.

DTSA Notice: The Defend Trade Secrets Act of 2016 (DTSA) provides that no individual will be held criminally or civilly liable under Federal or State trade secret law for the disclosure of a trade secret that: (i) is made in confidence to a Federal, State, or local government official, either directly or indirectly, or to an attorney; and made solely for the purpose of reporting or

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investigating a suspected violation of law; or, (ii) is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal so that it is not made public. It also provides that an individual who pursues a lawsuit for retaliation by an employer for reporting a suspected violation of the law may disclose the trade secret to the attorney of the individual and use the trade secret information in the court proceeding if the individual files any document containing the trade secret under seal and does not disclose the trade secret except as permitted by court order.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(e)&nbsp;&nbsp;&nbsp;&nbsp;<u>Enforcement</u>.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(1)**&nbsp;&nbsp;&nbsp;&nbsp;The Participant acknowledges that compliance with all provisions, covenants and agreements set forth in this Agreement, and the duration, terms and geographical area thereof, are reasonable and necessary to protect the legitimate business interests of the Company and its Subsidiaries and Affiliates. 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(2)**&nbsp;&nbsp;&nbsp;&nbsp;The Participant acknowledges that a breach of the Participant's obligations under this Section 11 may result in irreparable and continuing damage to the Company and/or its Subsidiaries and Affiliates for which there is no adequate remedy at law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(3)**&nbsp;&nbsp;&nbsp;&nbsp;The Participant acknowledges that the Participant's education, experience and/or abilities are such that the enforcement of the restrictive covenants in this Agreement will not prevent the Participant from earning a living and will not cause any undue hardship upon the Participant. Further, the Participant acknowledges that the equity they receive under this Agreement is mutually agreed upon consideration that is adequate and sufficient to make the covenants in Section 11 immediately binding and enforceable against them.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(4)**&nbsp;&nbsp;&nbsp;&nbsp;In the event of the violation by the Participant of any of the covenants contained in Section 11 the terms of each such covenant so violated shall be automatically extended from the date on which the Participant permanently ceases such violation for a period equal to the period in which the Participant was in breach of the covenant or for a period of twelve (12) months from the date of the entry by a court of competent jurisdiction of an order or judgment enforcing such covenant(s), whichever period is later; provided, however, this extension of time shall be capped, except as to violations of Section 11(d), so that the extension of time does not exceed two years from the date the Participant's employment ended, and if this extension would make the restriction unenforceable under applicable law it will not be applied.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(5)**&nbsp;&nbsp;&nbsp;&nbsp;Each of the restrictive covenants contained in this Agreement is independent of any other contractual obligations of this Agreement or otherwise owed by the Participant to the Company and/or its Subsidiaries and Affiliates. Further, should the Participant be subject to an agreement with the Company containing confidentiality, non-solicitation, and/or noncompetition provisions, the restrictive covenants in this Agreement shall supplement (rather than supersede) the covenants in such other agreements ("Other Covenants"), and the Other Covenants shall remain in full force and effect. In addition, the Other Covenants in the Employment Agreement shall control over the covenants in this Agreement, and the restrictive covenants in this Agreement shall be construed to match the Other Covenants in the Employment

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Agreement. The existence of any claim or cause of action by the Participant against the Company and/or its Subsidiaries or Affiliates, whether based on this Agreement or otherwise, shall not create a defense to the enforcement by the Company and/or its Subsidiaries and Affiliates of any restrictive covenant contained in this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(6)**&nbsp;&nbsp;&nbsp;&nbsp;Unless otherwise stated in Section 11(h), the Participant received a copy of this Agreement at least fourteen (14) days in advance of the date the Participant was expected to sign it. The Participant understands that the Company has advised them to use this time to consult with an attorney regarding this Agreement and that the Participant has a right to do so.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(7)**&nbsp;&nbsp;&nbsp;&nbsp;<u>Protected Conduct</u>. Nothing in this Agreement prohibits the Participant from: (i) opposing an event or conduct that the Participant reasonably believes is a violation of law, including criminal conduct, discrimination, harassment, retaliation, a safety or health violation, or other unlawful employment practices (whether in the workplace or at a work-related event); or (ii) disclosing sexual assault or sexual harassment (in the workplace, at work-related events, between employees, or between an employer and an employee or otherwise); or (iii) reporting such an event or conduct to the Participant's attorney, law enforcement, or the relevant law-enforcement agency (such as the Securities and Exchange Commission, Department of Labor, Occupational Safety and Health Administration, Equal Employment Opportunity Commission, or any equivalent state or local government agencies), or (iv) making any truthful statements or disclosures required by law or otherwise cooperating in an investigation conducted by any government agency (collectively referred to as "Protected Conduct"). Further, nothing requires notice to or approval from the Company before engaging in such Protected Conduct.

&nbsp;&nbsp;&nbsp;&nbsp;**(f)&nbsp;&nbsp;&nbsp;&nbsp;<u>Remedies</u>.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(1)**&nbsp;&nbsp;&nbsp;&nbsp;It is intended that, in view of the nature of the Company's and its Subsidiaries' and Affiliates' business, the restrictions contained in this Agreement are considered reasonable and necessary to protect the Company's and its Subsidiaries' and Affiliates' legitimate business interests and that any violation of these restrictions would result in irreparable injury to the Company and/or its Subsidiaries and Affiliates. In the event of a breach (a "Covenant Breach") or threatened breach by the Participant of any provision contained herein, the Company and its Subsidiaries and Affiliates may seek a temporary restraining order and injunctive relief without the posting of a bond. Nothing contained herein shall be construed as prohibiting the Company or its Subsidiaries or Affiliates from pursuing any other legal or equitable remedies available to it or them for any breach or threatened breach of these provisions, including, without limitation, recoupment and other remedies specified in the Agreement. In the event of a dispute regarding, arising out of, or in connection with the breach, enforcement or interpretation of this Agreement, including, without limitation, any action seeking injunctive relief, the prevailing party (as determined in a final, non-appealable order by a court of competent jurisdiction) may recover its reasonable attorneys' fees, costs, and expenses from the other party, to the fullest extent permitted by law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(2)**&nbsp;&nbsp;&nbsp;&nbsp;In the event of a Covenant Breach, the Company shall have the authority to (i) cancel all outstanding RSUs, whether vested or unvested; (ii) cancel all Shares beneficially

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owned by the Participant that were issued in settlement of RSUs within 12 months on or prior, or at any time after, the date of the Participant's termination of employment ("Cancellable Shares"); and (iii) recoup from the Participant any proceeds from the Participant's sale, transfer or other disposition of Cancellable Shares; provided, however, that in the case of a Covenant Breach with respect to Section 11(b)(1) of this Addendum, the Company may not exercise such remedy unless the Participant shall not have fully corrected such circumstances giving rise to the Covenant Breach under Section 11(b)(1) within thirty (30) days following written notification from the Company. The Company is hereby authorized by the Participant, as the Participant's attorney-in-fact, to execute all documents and undertake any required action on behalf of the Participant to transfer any Cancellable Shares back to the Company, after which the Participant shall not have any right, title, or interest of any kind to the Cancellable Shares. The Participant acknowledges and agrees that the Company has no obligation of any kind to the Participant with respect to the cancellation of RSUs or the Cancellable Shares, or the recoupment of proceeds from the disposition of Cancellable Shares, pursuant to this Section, including, but not limited to, reimbursement for any taxes previously paid by the Participant with respect to Cancellable Shares. This remedy shall be in addition to all other remedies, including those set forth in this Agreement and any other agreements between the parties. If the Participant resides in California, for so long as the Participant resides in California, this subsection (f)(2) shall not apply.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(g)&nbsp;&nbsp;&nbsp;&nbsp;<u>Company Intellectual Property</u>.** The Participant recognizes that all Works conceived, created, or reduced to practice by the Participant, alone or jointly with others, during the Participant's employment related to the business of owning, operating, or managing senior living facilities or providing private duty healthcare or other services to patients or customers shall to the fullest extent permissible by law be considered the Company's sole and exclusive property and "works made for hire" as defined in the U.S. Copyright Laws for purposes of United States law and the law of any other country adhering to the "works made for hire" or similar notion or doctrine, and will be considered the Company's property from the moment of creation or conception forward for all purposes without the need for any further action or agreement by the Participant or the Company. If any such Works or portions thereof shall not be legally qualified as a works made for hire in the United States or elsewhere, or shall subsequently be held to not be a work made for hire or not the exclusive property of the Company, the Participant hereby assigns to the Company all of the Participant's rights, title and interest, past, present, and future, to such Works. The Participant will not engage in any unauthorized publication or use of such Company Works, nor will the Participant use same to compete with or otherwise cause damage to the business interests of the Company. "Works" mean original works of authorship, including, but not limited to: literary works (including all written material), mask works, computer programs, formulas, tests, notes, data compilations, databases, artistic and graphic works (including designs, graphs, drawings, blueprints, and other works), recordings, models, photographs, slides, motion pictures, and audio visual works; whether copyrightable or not, and regardless of the form or manner in which documented or recorded.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(h)&nbsp;&nbsp;&nbsp;&nbsp;<u>State-Specific Modifications</u>.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(1) &nbsp;&nbsp;&nbsp;&nbsp;Alabama Addendum.** If a court of competent jurisdiction deems that Alabama law applies, then: (i) the definition of "Non-Solicit Restricted Period" shall be modified

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to include the period of the Participant's employment with the Company or any Subsidiary or Affiliate, and the eighteen (18) month period immediately following the date of termination of such employment for any reason; and (ii) the definition of "Covered Employee" shall be modified to be further limited to those employees who are uniquely essential to the management, organization, or service of the business (such as an employee involved in management or significant customer sales or servicing).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(2) &nbsp;&nbsp;&nbsp;&nbsp;California Addendum.** Notwithstanding anything in the Agreement or the Addendum to the contrary, while the Participant resides or is primarily assigned to work in California during their employment by the Company or its Subsidiaries or Affiliates, then for so long as the Participant resides or is primarily assigned to work in California:

The Governing Law clause in Section 12 shall not be applied to deprive the Participant of the protections or benefits of California law, and nothing in this Agreement shall require the Participant to litigate a claim relating to this Section 11 outside of California. Sections 11(b)(1) and (2) shall not apply after the Participant's employment with the Company (or its Subsidiary or Affiliate) ends. However, any conduct relating to the solicitation of the Company's residents, patients, referral sources, clients, vendors, suppliers, investors, equity or financing sources, consultants, or employees that involves the misappropriation of the Company's trade secret information, such as its protected customer information, will remain prohibited conduct at all times, and nothing in this Agreement shall be construed to limit or eliminate any rights or remedies the Company would have against the Participant under trade secret law, unfair competition law, or other laws applicable in California absent this Agreement. In addition to the other forms of Protected Conduct, nothing in the Agreement shall be construed to prohibit the Participant from disclosing information about unlawful acts in the workplace, such as harassment or discrimination or any other conduct that the Participant has reason to believe is unlawful.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(3)&nbsp;&nbsp;&nbsp;&nbsp;Colorado Addendum.** Notwithstanding anything in the Agreement or the Addendum to the contrary, while the Participant resides or is primarily assigned to work in Colorado during their employment by the Company or its Subsidiaries or Affiliates, then for so long as the Participant resides or is primarily assigned to work in Colorado:

The Governing Law clause in Section 12 shall not be applied to deprive the Participant of the protections or benefits of Colorado law, and nothing in this Agreement shall require the Participant to litigate a claim relating to this Section 11 outside of Colorado. The non-competition covenant in Section 11(b)(1) and the Covered Person non-solicitation in Section 11(b)(2)(ii) will not be enforceable against the Participant unless the Participant's earnings from the Company, when annualized, exceed the equivalent of $127,091 per year or the earnings threshold in effect as adjusted annually by the Colorado Division of Labor Standards and Statistics in the Department of Labor and Employment. The definition of "Covered Person" shall be modified to cover only those customers, residents, patients, referral sources, clients, vendors, suppliers, investors, equity or financing sources, or consultants with respect to which the Participant would have been provided trade secret information during the last two years of the Participant's

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employment with the Company. The Participant stipulates that the non-competition and covered person non-solicitation obligations in Sections 11(a), 11(b)(1), and 11(b)(2)(ii) are reasonable and necessary for the protection of trade secrets within the meaning § 8-2-113(2)(b) (the "Colorado Noncompete Act"). The Participant acknowledges that they received notice of the covenant not to compete and its terms before the Participant accepted an offer of employment, or, if a current employee at the time the Participant enters into this Agreement, at least fourteen (14) days before the earlier of the effective date of the Agreement or the effective date of any additional compensation or change in the terms or conditions of employment that provides consideration for the covenant not to compete. If a current employee at the time the Participant receives this Agreement, under no circumstances will the obligations in Section 11(b) become effective until fourteen (14) days have passed since the Participant received this Agreement. The Confidential Information restrictions in this Agreement do not prohibit disclosure of information that arises from the worker's general training, knowledge, skill, or experience, whether gained on the job or otherwise, information that is readily ascertainable to the public, or information that a worker otherwise has a right to disclose as legally protected conduct. Nothing in this Agreement or Company policy limits or prevents a worker from disclosing information about workplace health and safety practices or hazards. Further, in addition to the other forms of Protected Conduct, nothing in the Agreement shall be construed to prohibit the Participant from disclosing or discussing (either orally or in writing) information about unlawful acts in the workplace, such as any alleged discriminatory or unfair employment practice.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(4)&nbsp;&nbsp;&nbsp;&nbsp;Georgia Addendum.** If a court of competent jurisdiction deems that Georgia law applies, then: (a) the definition of "Confidential Information" will be understood to exclude information voluntarily disclosed to the public by the Company (excluding unauthorized disclosures by the Participant or others), information that is the result of independent development by others, and information that is otherwise available in the public domain through lawful means. Nothing in this Agreement, including the definition of Confidential Information, limits or alters the definition of what constitutes a trade secret under any federal or state law designed to protect trade secrets; and (b) nothing in the covered person non-solicitation obligations in Section 11(b)(2)(ii) shall restrict the Participant from accepting business from a Covered Person so long as the Participant did not solicit, assist in soliciting, facilitate the solicitation of, provide, or offer to provide services to the Covered Person (regardless of who first initiated contact) or use Confidential Information to encourage or induce the Covered Person to withdraw, curtail, or cancel its business with the Company or in any other manner modify or fail to enter into any actual or potential business relationship with the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(5)&nbsp;&nbsp;&nbsp;&nbsp;Idaho Addendum.** If a court of competent jurisdiction deems that Idaho law applies, then the definition of "Non-Compete Restricted Period" shall be modified to include the twelve (12) month period immediately following the date of termination of the Participant's employment with the Company (or any Subsidiary or Affiliate) for any reason.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(6)&nbsp;&nbsp;&nbsp;&nbsp;Illinois Addendum.** If a court of competent jurisdiction deems that Illinois law applies, then: (i) the Participant acknowledges that the equity they receive under this

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Agreement is mutually agreed upon consideration that is adequate and sufficient to make the covenants in Section 11 immediately binding and enforceable against them; (ii) the non-competition restrictions in Section 11(b)(1) shall not apply if the Participant earns equal to or less than $75,000 annually ("Non-Competition Earnings Threshold") (with the Non-Competition Earnings Threshold increasing by $5,000 every five years from January 1, 2027 through January 1, 2037); (iii) the Covered Person non-solicit obligations and employee non-solicit obligations in Section 11(b)(2) shall not apply if the Participant earns equal or less than $45,000 annually ("Non-Solicit Earnings Threshold") (with the Non-Solicit Earnings Threshold increasing by $2,500 every five years from January 1, 2027 through January 1, 2037). The Participant further agrees that if, at the time the Participant signs the Agreement, the Participant's earnings do not meet the Non-Competition Earnings Threshold and/or the Non-Solicit Earnings Threshold, then the non-competition provision contained in Section 11(b)(1), will automatically become enforceable against the Participant if and when the Participant begins earning an amount equal to or greater than the Non-Competition Earnings Threshold, and the Covered Person non-solicit obligations and employee non-solicit obligations in Section 11(b)(2) will automatically become enforceable against the Participant if and when the Participant begins earning an amount equal to or greater than the Non-Solicit Earnings Threshold; and (iv) the last sentence of Section 11(f)(1) relating to attorneys' fees shall be replaced with the following language: "In the event that any action is filed to enforce the terms and conditions of Section 11 of this Agreement, the prevailing party in the action will recover from the non-prevailing party, in addition to any other sum that either party may be called upon to pay, a reasonable sum for the prevailing party's attorney's fees and costs."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(7)&nbsp;&nbsp;&nbsp;&nbsp;Indiana Addendum.** If a court of competent jurisdiction deems that Indiana law applies, then: the definition of "Covered Employee" shall be modified to be further limited to employees who have access to or possess any Confidential Information that would give a competitor an unfair advantage.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(8)&nbsp;&nbsp;&nbsp;&nbsp;Louisiana Addendum.** If a court of competent jurisdiction deems that Louisiana law applies, then: (a) the meaning of the Participant's "Territory" shall be understood to include the parishes (and equivalents) in the following list so long as the Company continues to carry on business therein: Acadia, Allen, Avoyelles, Beauregard, Bienville, Bossier, Caddo, Calcasieu, Cameron, Catahoula, Desoto, Evangeline, Grant, Iberia, Jefferson Davis, Jefferson, Lafayette, LaSalle, Natchitoches, Orleans, Rapides, Red River, St. Charles, St. John the Baptist, St. Landry, St. Martin, St. Tammany, Tangipahoa, Vermillion, Vernon, Washington, Webster; and (b) the Participant's Covered Person non-solicit obligations (as well as their non-compete obligations) shall be limited to the parishes and counties (or their equivalents) from the foregoing list that fall within the Participant's Territory. The Participant agrees that the foregoing provides the Participant with adequate notice of the geographic scope of the restrictions contained in the Agreement by name of specific parish or parishes (and equivalents), municipality or municipalities, and/or parts thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(9)&nbsp;&nbsp;&nbsp;&nbsp;Maine Addendum.** If a court of competent jurisdiction deems that Maine law applies, then: (i) the Participant acknowledges that if the Participant is being initially hired by the Company (or its Subsidiary or Affiliate) that the Participant was notified a noncompete

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agreement would be required prior to their receiving a formal offer of employment from the Company (or its Subsidiary or Affiliate) and the Participant received a copy of the Agreement at least three business days before they were required to sign the Agreement; (ii) Section 11(b)(1) will not take effect (to restrict the Participant post-employment) until one year of employment or a period of six months from the date the agreement is signed, whichever is later; and (iii) Section 11(b)(1) shall not apply if the Participant earns at or below 400% of the federal poverty level.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(10)&nbsp;&nbsp;&nbsp;&nbsp;Massachusetts Addendum.** If a court of competent jurisdiction deems that Massachusetts law applies, then: (i) the Participant acknowledges that the opportunity to receive equity under this Agreement is mutually agreed upon consideration that is adequate and sufficient to make the covenants in Section 11(b)(1) to be immediately binding and enforceable against them; (ii) the definition of "Non-Compete Restricted Period" shall be modified to include the twelve (12) month period immediately following the date of termination of the Participant's employment with the Company (or any Subsidiary or Affiliate); however, if the Participant breaches their fiduciary duty to the Company (or any Subsidiary or Affiliate) and/or has unlawfully taken, physically or electronically, any Company records, then the Non-Compete Restricted Period shall be extended to a period of two (2) years from the cessation of employment with the Company or any Subsidiary or Affiliate; (iii) the non-compete in Section 11(b)(1) shall only apply post-employment if the Participant's employment ends voluntarily or involuntarily for cause. The Participant understands that for the limited purposes of the application of the non-competition restriction in Section 11(b)(1) of the Agreement, "cause" to terminate the Participant's employment exists if the Participant has: (A) materially breached any obligations under any applicable employment, confidentiality, nonsolicitation, invention assignment, or noncompetition agreement with the Company; (B) been convicted of or entered a plea of guilty or nolo contendere to, or admission to facts sufficient for a finding of guilt for, any crime constituting a felony or any misdemeanor involving fraud, dishonesty and/or moral turpitude; (C) neglected, refused, or failed to discharge their duties (other than due to physical or mental illness) commensurate with their title and function, or their failure to comply with a lawful direction of the Company; (D) breached their duty of loyalty or fiduciary duty to the Company; (E) violated the Company's policy or policies; (F) engaged in unlawful discrimination or harassment; (G) engaged in any other willful misconduct which is materially injurious to the financial condition or business reputation of, or is otherwise materially injurious to, the Company; and/or (H) engaged in any other act that is accepted as cause for termination under the common law of the Commonwealth of Massachusetts. Nothing in this herein shall be construed to eliminate or modify the "at-will" nature of the parties' relationship; (iv) the Participant acknowledges that they have been advised of their right to consult with an attorney about this Agreement and has been given an opportunity to do so; (v) the Participant acknowledges that if they are being initially hired by the Company that they received a copy of this Agreement with their first formal offer of employment from the Company or at least ten (10) business days before commencement of the Participant's employment by the Company, whichever came first; and if the Participant was already employed by the Company at the time of signing this Agreement, that the Participant was provided a copy hereof at least ten (10) business days before the effective date of this Agreement. If a current employee at the time the Participant receives this Agreement, under no circumstances will the obligations in Section 11(b) become effective until ten (10) business days have passed since the Participant received this Agreement; (vi) the tolling

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language in Section 11(e)(4) shall only apply to any breach of Section 11(b)(2) (*i.e.*, the tolling language shall not apply to Section 11(b)(1)); and (vii) any dispute relating to or arising out of Section 11 shall be exclusively finally resolved by a state or federal court located in the county where the Participant resides or the business litigation session of the superior court in Suffolk County, Massachusetts and the parties to this Agreement hereby consent to personal jurisdiction therein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(11)&nbsp;&nbsp;&nbsp;&nbsp;Minnesota Addendum.** Notwithstanding anything in the Agreement or the Addendum to the contrary, while the Participant resides or is primarily assigned to work in Minnesota during their employment by the Company or its Subsidiaries or Affiliates, then for so long as the Participant resides or is primarily assigned to work in Minnesota: The Governing Law clause in Section 12 shall not be applied to deprive the Participant of the protections or benefits of Minnesota law, and nothing in this Agreement shall require the Participant to litigate a claim relating to Section 11 outside of Minnesota. In addition, the non-compete in Section 11(b)(1) shall not apply after the Participant's employment with the Company (or its Subsidiary or Affiliate) ends.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(12)&nbsp;&nbsp;&nbsp;&nbsp;Missouri Addendum.** If a court of competent jurisdiction deems that Missouri law applies, then: the definition of "Covered Employee" will be modified to exclude from its definition any employee who provides only secretarial or clerical services.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(13)&nbsp;&nbsp;&nbsp;&nbsp;Nebraska Addendum.** If a court of competent jurisdiction deems that Nebraska law applies, then: (a) the definition of "Covered Person" shall be further limited to those Covered Persons with which the Participant, alone or in combination with others, handled, serviced, or solicited at any time during the Look Back Period; and (b) the non-compete in Section 11(b)(1) shall not apply after the Participant's employment with the Company (or its Subsidiary or Affiliate) ends.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(14)&nbsp;&nbsp;&nbsp;&nbsp;Nevada Addendum.** If a court of competent jurisdiction deems that Nevada law applies, then: (i) the Participant acknowledges that the equity they receive under this Agreement is mutually agreed upon consideration that is valuable and sufficient to make the covenants in Section 11(b)(1) to be immediately binding and enforceable against them; (ii) the non-competition in Section 11(b)(1) and the Covered Person non-solicit obligations in Section 11(b)(2)(ii) do not preclude the Participant from providing services to any former customer, resident, patient, referral source, client, vendor, supplier, investor, equity or financing source, or consultant of the Company if: (A) the Participant did not solicit the former customer, resident, patient, referral source, client, vendor, supplier, investor, equity or financing source, or consultant; (B) the customer, resident, patient, referral source, client, vendor, supplier, investor, equity or financing source, or consultant voluntarily chose to leave and seek services from the Participant; and (C) the Participant is otherwise complying with the limitations in Section 11 of this Agreement as to time, geographical area, and scope of activity to be restrained; and (iii) if the Participant's employment with the Company (or its Subsidiary or Affiliate) is terminated as a result of a reduction in force, reorganization, or similar restructuring of the Company (or its Subsidiary or Affiliate), the noncompetition covenant in Section 11(b)(1) will only be enforceable during the period in which the Company is paying the Participant's salary, benefits,

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or equivalent compensation, including without limitation, severance pay, if it elects to make such a payment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(15)&nbsp;&nbsp;&nbsp;&nbsp;New Hampshire Addendum.** If a court of competent jurisdiction deems that New Hampshire law applies, then the Participant acknowledges that the Participant was given a copy of this Agreement prior to a change in job classification or acceptance of an offer of employment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(16)&nbsp;&nbsp;&nbsp;&nbsp;New York Addendum.** If a court of competent jurisdiction deems that New York law applies, then: "Covered Person" shall be modified to exclude from its definition any customers, residents, patients, referral sources, clients, vendors, suppliers, investors, equity or financing sources, or consultants of the Company or any Subsidiary or Affiliate which entered into a business relationship with the Company (or its Subsidiary or Affiliate) as a result of the Participant's independent contact and business development efforts with the customer prior to and independent from the Participant's employment with the Company (or its Subsidiary or Affiliate). However, the Participant agrees that after a period of two years from the start of their employment with the Company (or its Subsidiary or Affiliate), the Company (or its Subsidiary or Affiliate) will have invested sufficient time, financial support and effort in developing and serving any such customers, residents, patients, referral sources, clients, vendors, suppliers, investors, equity or financing sources, or consultants, to support the application of the covered person non-solicit obligations. Accordingly, two years following the start of the Participant's employment with the Company (or its Subsidiary or Affiliate), this modification shall not apply.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(17)&nbsp;&nbsp;&nbsp;&nbsp;North Carolina Addendum.** If a court of competent jurisdiction deems that North Carolina law applies, then: the Look Back Period shall be calculated looking back one year from the date the employment ends or two years from the date of enforcement and not from the date employment ends, whichever provides the Company the greatest protection and is enforceable under applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(18)&nbsp;&nbsp;&nbsp;&nbsp;Oklahoma Addendum.** If a court of competent jurisdiction deems that Oklahoma law applies, then: (i) the non-competition restrictions in Section 11(b)(1) shall not apply after the Participant's employment with the Company (or its Subsidiary or Affiliate) ends; and (ii) the Covered Person non-solicit obligations shall all be amended to provide that notwithstanding anything in it to the contrary, the Participant shall be permitted to engage in the same business as that conducted by the Company or in a similar business as long as the Participant does not directly solicit the sale of goods, services or a combination of goods and services from the established customers, residents or patients of the Company or its Subsidiary or Affiliate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(19)&nbsp;&nbsp;&nbsp;&nbsp;Oregon Addendum.** If a court of competent jurisdiction deems that Oregon law applies, then: (i) the definition of "Non-Compete Restricted Period" shall be modified to include the twelve (12) month period immediately following the date of termination of the Participant's employment with the Company or any Subsidiary or Affiliate for any reason; and (ii) unless the Company chooses to compensate the Participant as allowed under the Oregon Noncompete Act (Or. Rev. Stat. § 653 et seq.), the restrictions in Section 11(b)(1) shall only

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apply to the Participant if: (A) they are engaged in administrative, executive or professional work and perform predominantly intellectual, managerial, or creative tasks, exercise discretion and independent judgment and earn a salary and am paid on a salary basis; (B) the Company has a "protectable interest" (meaning, access to trade secrets or competitively sensitive confidential business or professional information that otherwise would not qualify as a trade secret, including product development plans, product launch plans, marketing strategy or sales plans); and (C) the total amount of the Participant's annual gross salary and commission, calculated on an annual basis, at the time of my termination, exceeds $100,533 (or the earnings threshold in effect based on annual adjustment for inflation pursuant to the Consumer Price Index for All Urban Consumers, West Region (All Items), as published by the Bureau of Labor Statistics of the United States Department of Labor immediately preceding the calendar year of the Participant's termination). In addition, if the Participant is a new employee, the Participant acknowledges that they were notified in a written offer of employment received two weeks before the commencement of employment that a noncompetition agreement was a condition of employment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(20)&nbsp;&nbsp;&nbsp;&nbsp;Utah Addendum.** If a court of competent jurisdiction deems that Utah law applies, the definition of "Non-Compete Restricted Period" shall be modified to include the twelve (12) month period immediately following the date of termination of the Participant's employment with the Company (or any Subsidiary or Affiliate) for any reason.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(21)&nbsp;&nbsp;&nbsp;&nbsp;Virginia Addendum.** If a court of competent jurisdiction deems that Virginia law applies, then: (i) the parties agree that the non-competition and non-solicitation obligations are reasonably limited in nature and do not prohibit employment with a competing business in a non-competitive position; and (ii) if the Participant resides in Virginia and their average weekly earnings calculated as provided for under Code of Virginia § 40.1-28.7:7 (the "Virginia Act"), are less than the average weekly wage of the Commonwealth as determined pursuant to subsection B of § 65.2-500 or the Participant otherwise qualifies as a "low-wage employee" under the Virginia Act then the non-competition obligations in Section 11(b)(1) shall not apply to the Participant and nothing that constitutes a "covenant not to compete" as defined by the Virginia Act shall restrict the Participant from providing a service to a Covered Person if the Participant does not initiate contact with or solicit the Covered Person. The Participant shall not be considered a "low-wage employee" if the Participant's earnings are derived, in whole or in predominant part, from sales commissions, incentives, or bonuses paid to the employee by the Company (or its Subsidiary or Affiliate).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(22)&nbsp;&nbsp;&nbsp;&nbsp;Washington Addendum.** Notwithstanding anything in the Agreement or the Addendum to the contrary, while the Participant resides or is primarily assigned to work in Washington during their employment by the Company or its Subsidiaries or Affiliates, then for so long as the Participant resides or is primarily assigned to work in Washington:

The Governing Law clause in Section 12 shall not be applied to deprive the Participant of the protections or benefits of the Washington Noncompete Act (Rev. Code of Wash. (RCW) §§ 49.62.005 - 900) (the "Washington Act") and nothing in this Agreement shall require the Participant to litigate a claim relating to this Section 11 outside of

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Washington. The definition of the "Non-Solicit Restricted Period" is modified to include a period of eighteen (18) months immediately following the date of the Participant's termination from the Company (or its Subsidiary or Affiliate). Unless or until the Participant's earnings from the Company (or its Subsidiary or Affiliate) over the prior year (or the portion thereof for which the Participant was employed), when annualized, exceed the equivalent of $123,395 per year or the then inflation-adjusted equivalent in accordance with the requirements of the Washington Act: (i) Section 11(b)(2) of this Addendum is modified to only prohibit solicitation by the Participant (A) of any Covered Employee of the Company to leave employment with the Company, and (B) of any Covered Person to cease or reduce the extent to which it is doing business with the Company; in accordance with the definition of an enforceable "Nonsolicitation Agreement" under the Washington Act; and (ii) the non-competition covenant in Section 11(b)(1) will not be or become enforceable against the Participant. "Covered Person" means a customer (including a resident or patient) of the Company or any Subsidiary or Affiliate or any of their successors or assigns that the Participant had material contact with during the two (2) years prior to the Participant's termination of employment and that/who is engaged in business with the Company or its Subsidiary or Affiliate at the time of solicitation. Material contact will be presumed present if in the two-year period the Participant (or persons under the Participant's supervision) had contact with the customer, resident, or patient, or the Participant was provided Confidential Information about the customer, resident, or patient, or the Participant received commissions or other beneficial credit for business conducted with the customer, resident, or patient. "Covered Employee" shall mean any employee who is employed by the Company or any Subsidiary or Affiliate or any of their successors or assigns or was so employed at any time during the twelve (12) months prior to the Participant's termination of employment and with whom the Participant worked, whom the Participant supervised, or about whom the Participant acquired Confidential Information. Further, in addition to the other forms of Protected Conduct, nothing in the Agreement prohibits disclosure or discussion of conduct the Participant reasonably believes to be illegal discrimination, illegal harassment, illegal retaliation, a wage and hour violation, or sexual assault, or that is recognized as against a clear mandate of public policy.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(23)&nbsp;&nbsp;&nbsp;&nbsp;Wisconsin Addendum.** If a court of competent jurisdiction deems that Wisconsin law applies, then: (i) the tolling language in Section 11(e)(4) shall not apply; (ii) the definition of "Covered Employee" shall be modified to be further limited to those employees who are either entrusted with Confidential Information or employed in a position essential to the management, organization, or service of the business (such as, but not limited to maintaining the Company's or its Subsidiary's or Affiliate's customer and other key relationships); and (iii) the Participant understands that the obligations in Section 11(b)(2) of the Addendum are limited to the Territory.

## Exhibit 10.4

&nbsp;&nbsp;&nbsp;&nbsp;**Exhibit 10.4**

&nbsp;&nbsp;&nbsp;&nbsp;

**Portions of this exhibit that have been marked by [\*\*\*] have been omitted because the Registrant has determined they are not material and would likely cause competitive harm to the Registrant if publicly disclosed.**

**PERFORMANCE-BASED RESTRICTED STOCK UNIT AGREEMENT<br>UNDER THE BROOKDALE SENIOR LIVING INC.<br>2024 OMNIBUS INCENTIVE PLAN**

This Award Agreement, including the Addendum hereto (this "Agreement"), dated as of February 12, 2026 (the "Date of Grant"), is made by and between Brookdale Senior Living Inc., a Delaware corporation (the "Company"), and «First_Name» «Last_Name» (the "Participant"). Capitalized terms not defined herein shall have the meaning ascribed to them in the Brookdale Senior Living Inc. 2024 Omnibus Incentive Plan (as amended and/or restated from time to time, the "Plan"). Where the context permits, references to the Company shall include any successor to the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.<u>Grant of RSUs</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)The Company hereby grants to the Participant ________ performance-based restricted stock units under the Plan (the "RSUs"). The RSUs are comprised of four tranches (each a "Tranche"), each of which shall be subject to the applicable performance criteria set forth below and the terms and conditions of the Plan and this Agreement.

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| | | | |
|:---|:---|:---|:---|
| | **% of Initial RSUs** | **Performance Criteria** | **Scheduled Vesting Date** |
| First Tranche | 25% | Exhibit A | February 27, 2029 |
| Second Tranche | 25% | Exhibit B | February 27, 2029 |
| Third Tranche | 25% | Exhibit C | February 27, 2029 |
| Fourth Tranche | 25% | Exhibit D | February 27, 2029 |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)Additional performance-based restricted stock units may become issuable to the Participant under the Plan as set forth in Section 2(a). If and when any such additional units become issuable, they shall be part of the applicable Tranche and subject to all of the terms and conditions of the Plan and this Agreement as RSUs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.<u>Vesting</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)<u>General</u>. Except as otherwise provided in this Section 2 and in Section 2 of the Addendum to this Agreement, vesting with respect to each Tranche is subject to the satisfaction of both the Performance Criteria and the Service Condition (each as defined below) applicable to the Tranche. Subject to the provisions set forth below, each Tranche may vest on the scheduled vesting date set forth in Section 1(a) (together with any other date on which any portion of the RSUs may vest pursuant to this Section 2 and Section 2 of the Addendum, a "Vesting Date"), with the exact percentage of each Tranche that vests to be determined by the degree to which the Company's performance results meet the applicable performance criteria set forth on <u>Exhibit A</u> through <u>Exhibit D</u> hereto (the "Performance Criteria"). Following the completion of the performance period on December 31, 2026 (for the First Tranche), December 31, 2027 (for the Second Tranche), and December 31, 2028 (for the Third Tranche and Fourth Tranche) (as applicable, the "Measurement Date"), the Administrator shall determine the Company's performance results relative to the applicable Performance Criteria. If the

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Company's performance results are less than 100% on the scale set forth in the applicable Performance Criteria, any RSUs comprising a portion of the applicable Tranche that is not earned shall be forfeited and be deemed no longer to be part of this Agreement effective as of the Measurement Date. If the Company's performance results exceed 100% on the scale set forth in the applicable Performance Criteria, the Company shall issue such number of additional RSUs as calculated in the applicable Exhibit (the "Additional RSUs"), which shall become part of the applicable Tranche effective as of the applicable Measurement Date. Except as otherwise specifically set forth in this Agreement and Section 2 of the Addendum to this Agreement, vesting of any portion of the RSUs on any Vesting Date is subject to the continued Service of the Participant with the Company or one of its Subsidiaries or Affiliates (or a successor to any of them) from the Date of Grant to such Vesting Date (the "Service Condition"), and upon termination of the Participant's Service with the Company and its Subsidiaries and Affiliates for any reason, all unvested RSUs outstanding as of the date of such termination shall automatically and without notice terminate and be forfeited and neither the Participant nor any of the Participant's successors, heirs, assigns, or personal representatives shall thereafter have any further rights or interests in such RSUs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)<u>Award Not Assumed Following Change in Control</u>. Upon the occurrence of a Change in Control, if the RSUs that are outstanding effective immediately prior to such Change in Control are not assumed, continued or substituted with an award relating to a publicly-traded security of the acquirer (or the Company) on the same terms and conditions that were applicable to such outstanding RSUs, then all such outstanding RSUs shall vest and be settled upon the consummation of the Change in Control.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)<u>Award Assumed Following Change in Control</u>. Upon the occurrence of a Change in Control in which the RSUs that are outstanding effective immediately prior to such Change in Control are assumed, continued or substituted with an award relating to a publicly-traded security of the acquirer (or the Company) on the same terms and conditions that were applicable to such outstanding RSUs, then such outstanding RSUs shall continue to vest subject to the Service Condition, and the Performance Criteria with respect to a particular Tranche shall no longer apply if the Change in Control occurs prior to the Measurement Date applicable to such Tranche (and for the avoidance of doubt, no Additional RSUs shall be paid or payable under this Agreement with respect to a particular Tranche in the event that a Change in Control occurs prior to the Measurement Date for such Tranche).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.<u>Settlement of Restricted Stock Units</u>. As soon as practicable following each Vesting Date (but in no event later than 30 days following the Vesting Date or such earlier time specified in this Agreement), the Company shall issue to the Participant the number of Shares equal to the aggregate number of RSUs that have vested pursuant to this Agreement on such date and the Participant shall thereafter have all the rights of a stockholder of the Company with respect to such Shares. Notwithstanding anything in this Agreement to the contrary, no fractional shares shall vest or be issuable under this Agreement, and any such fractional shares shall be rounded down to the next whole share; *provided*, that the Administrator may, in its sole discretion, provide a cash payment in lieu of any such fractional share.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.<u>Rights as a Stockholder</u>. Section 4 of the Addendum is incorporated herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.<u>Adjustments</u>. Pursuant to Section 5 of the Plan, in the event of a Change in Capitalization as described therein, the Administrator shall make such equitable changes or adjustments, as it deems necessary or appropriate, in its discretion, to the number and kind of securities or other property (including cash) issued or issuable in respect of outstanding RSUs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.<u>Certain Changes</u>. The Administrator may accelerate the vesting dates or otherwise adjust any of the terms of the RSUs; provided that, subject to Section 5 of the Plan, Section 11(f)

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of the Addendum to this Agreement and Section 22 of this Agreement, no action under this Section shall adversely affect the Participant's rights hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.<u>Notices</u>. All notices and other communications under this Agreement shall be in writing and shall be given by facsimile or first class mail, certified or registered with return receipt requested, and shall be deemed to have been duly given three days after mailing or 24 hours after transmission by facsimile to the respective parties, as follows: (i) if to the Company, at Brookdale Senior Living Inc., 105 Westwood Place, Suite 400, Brentwood, TN 37027, Facsimile: (615) 564-8204, Attn: General Counsel and (ii) if to the Participant, using the contact information on file with the Company. Either party hereto may change such party's address for notices by notice duly given pursuant hereto. Notwithstanding the foregoing, the Company may, in its sole discretion, decide to deliver any notice or other communications related to the RSUs, this Agreement or current or future participation in the Plan by electronic means. The Participant hereby consents to receive such notices and other communications by electronic delivery and agrees to participate in the Plan through an online or electronic system established and maintained by the Company or a third party designated by the Company (including the Company's stock plan service provider's website).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.<u>Taxes</u>. The Participant has reviewed with the Participant's own tax advisors the Federal, state, local and foreign tax consequences of the transactions contemplated by this Agreement. The Participant is relying solely on such advisors and not on any statements or representations of the Company or any of its agents. The Participant acknowledges and agrees that the Participant is responsible for the tax consequences associated with the award and vesting of the RSUs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.<u>Withholding</u>. Delivery of Shares is conditioned upon the Participant's making arrangements satisfactory to the Administrator regarding payment of income and employment tax withholding requirements as set forth in Section 15 of the Plan; provided, however, that the Participant may elect, without the consent of the Company, to have the Company withhold from delivery of Shares issuable upon the settlement of the RSUs such number of Shares having a Fair Market Value not exceeding the applicable taxes to be withheld and applied to the tax obligations of the Participant as determined by the Company. In making its determination, the Company may calculate such amount by taking into account applicable withholding rates not exceeding the maximum individual statutory tax rates in the Participant's applicable jurisdictions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.<u>Failure to Enforce Not a Waiver</u>. The failure of the Company to enforce at any time any provision of this Agreement shall in no way be construed to be a waiver of such provision or of any other provision hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.<u>Restrictive Covenants</u>. The provisions of Section 11 of the Addendum to this Agreement are incorporated herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.<u>Governing Law</u>. This Agreement shall be governed by and construed according to the laws of the State of Delaware without regard to its principles of conflict of laws. If during the Participant's Service with the Company, the Participant primarily resides or is primarily assigned to the Company or one of its Subsidiary or Affiliate location(s) in California, Colorado, Minnesota, or Washington, then for so long as the Participant primarily resides in such state or is

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primarily assigned to location(s) in such states during the Participant's Service, this Section 12 shall not apply to the covenants in Section 11 of the Addendum.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.<u>Incorporation of Plan</u>. The Plan is hereby incorporated by reference and made a part hereof, and the RSUs and this Agreement shall be subject to all terms and conditions of the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.<u>Amendments; Construction</u>. The Administrator may amend the terms of this Agreement prospectively or retroactively at any time, but no such amendment shall impair the rights of the Participant hereunder without the Participant's consent. Headings to Sections of this Agreement are intended for convenience of reference only, are not part of this Agreement and shall have no effect on the interpretation hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.<u>Survival of Terms</u>. This Agreement shall apply to and bind the Participant and the Company and their respective permitted assignees and transferees, heirs, legatees, executors, administrators and legal successors. The terms of Section 11 of the Addendum to this Agreement and Section 22 of this Agreement shall expressly survive the vesting and/or forfeiture of the RSUs and any expiration or termination of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.<u>Compliance with Stock Ownership and Retention Guidelines</u>. The Participant hereby agrees to comply with the Company's Stock Ownership and Retention Guidelines (as amended from time to time, the "Guidelines"), to the extent such Guidelines are applicable, or become applicable, to the Participant. The Participant further acknowledges that, if the Participant is not in compliance with such Guidelines (if applicable), the Administrator may refrain from issuing additional equity awards to the Participant and/or elect to pay the Participant's annual bonus in the form of vested or unvested Common Stock.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.<u>Agreement Not a Contract for Services</u>. Neither the Plan, the granting of the RSUs, this Agreement nor any other action taken pursuant to the Plan shall constitute or be evidence of any agreement or understanding, express or implied, that the Participant has a right to continue to provide Services as an officer, director, employee, consultant or advisor of the Company or any Subsidiary or Affiliate for any period of time or at any specific rate of compensation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18.<u>Restrictions</u>. The RSUs may not be sold, transferred, pledged, assigned or otherwise encumbered or disposed of by the Participant, and any Shares issuable with respect to the RSUs may not be sold, transferred, pledged, assigned or otherwise encumbered or disposed of until such Shares have been issued to the Participant upon vesting of the RSUs in accordance with the terms of the Plan and this Agreement. Unless the Administrator determines otherwise, upon any attempt to transfer RSUs or any rights in respect of RSUs before the lapse of such restrictions, such RSUs, and all of the rights related thereto, shall be immediately forfeited by the Participant and transferred to, and reacquired by, the Company without consideration of any kind.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.<u>Authority of the Administrator</u>. The Administrator shall have full authority to interpret and construe the terms of the Plan and this Agreement (including, without limitation, the authority to determine whether, and the extent to which, any Performance Criteria have been achieved). Pursuant to the terms of the Plan, the Administrator shall also have full authority to make equitable adjustments to the Performance Criteria in recognition of unusual or non-recurring events affecting the Company or any Subsidiary or Affiliate or the financial statements of the Company or any Subsidiary or Affiliate, in response to changes in applicable laws or regulations, or to account for items of gain, loss or expense determined to be extraordinary or unusual in nature or infrequent in occurrence or related to the disposal of a segment of a business

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or related to a change in accounting principles. The determination of the Administrator as to any such matter of interpretation or construction shall be final, binding and conclusive.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20.<u>Severability</u>. Should any provision of this 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 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 Agreement. Moreover, if one or more of the provisions contained in this 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 provision or provisions in any other jurisdiction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21.<u>Acceptance</u>. The Participant hereby acknowledges receipt of a copy of the Plan and this Agreement. The Participant has read and understands the terms and provisions of the Plan and this Agreement, and accepts the RSUs subject to all the terms and conditions of the Plan and this Agreement. The Participant hereby agrees to accept as binding, conclusive, and final all decisions or interpretations of the Administrator upon any questions arising under this Agreement. By the Participant's electronically accepting the award of the RSUs using an online or electronic system established and maintained by the Company or a third party designated by the Company (including the Company's stock plan service provider's website), the Participant agrees to be bound by the terms and conditions of the Plan and this Agreement. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which shall constitute one and the same instrument. The Participant's electronic acceptance of the award of the RSUs shall have the same validity and effect as a signature affixed to this Agreement by the Participant's hand. The Participant understands their participation in the terms of the Plan and this Agreement through acceptance of RSUs is entirely voluntary, and is not a term and/or condition of Service but is instead an award granted on a discretionary basis to align the Participant's interests with those of the Company's stockholders and is an award that the Participant is free to decline at the Participant's discretion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22.<u>Clawback</u>. Notwithstanding anything herein to the contrary, the RSUs (including any Shares issued to the Participant upon settlement thereof) shall be subject to forfeiture, reduction, and/or recoupment (i) to the extent provided in the Company's Clawback and Forfeiture Policy, as it may be amended from time to time; (ii) to the extent that the Participant becomes subject to any other recoupment or clawback policy hereafter adopted by the Company, including any such policy adopted by the Company to comply with the requirements of any applicable laws, rules, regulations, or stock exchange listing requirements, including pursuant to final SEC rules under the Dodd-Frank Wall Street Reform and Consumer Protection Act, or (iii) to the extent provided under applicable legal requirements which impose recoupment, under circumstances set forth in such applicable legal requirements, including the Sarbanes-Oxley Act of 2002.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23.<u>Limitation on Rights; Extraordinary Item of Compensation</u>. By accepting this Agreement and the grant of the RSUs contemplated hereunder, the Participant expressly acknowledges that (a) the Plan is established voluntarily by the Company, it is discretionary in nature and may be suspended or terminated by the Company at any time, to the extent permitted by the Plan; (b) the grant of RSUs is exceptional, voluntary, and occasional and does not create any contractual or other right to receive future grants of RSUs, or benefits in lieu of RSUs, even if RSUs have been granted in the past; (c) all determinations with respect to future grants of RSUs, if any, including the date of grant, the number of units granted and the applicable vesting

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terms, will be at the sole discretion of the Company; (d) the Participant's participation in the Plan is voluntary; and (e) the future value of the underlying Shares is unknown and cannot be predicted with certainty. In addition, the Participant understands, acknowledges and agrees that the Participant will have no rights to compensation or damages related to RSU proceeds in consequence of the termination of the Participant's Service for any reason whatsoever and whether or not in breach of contract, other than as set forth in the Plan or in this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.<u>Section 409A</u>. This Agreement shall be interpreted in such a manner that all provisions relating to the settlement of the RSUs are exempt from the requirements of Section 409A of the Code as "short-term deferrals" as described in Section 409A of the Code. Notwithstanding anything to the contrary in this Agreement or an accompanying election form executed by the Participant, if (i) on the date of the Participant's Separation from Service with the Company the Participant is a "specified employee" (as such term is defined under Section 1.409A-1(i) of the Treasury Regulations promulgated under Section 409A of the Code) of the Company and (ii) any payments to be provided to the Participant pursuant to this Agreement are or may become subject to the additional tax under Section 409A(a)(1)(B) of the Code, or any other taxes or penalties imposed under Section 409A of the Code if provided at the time otherwise required under this Agreement, then such payments shall be delayed until the date that is six months after the date of the Participant's separation from service from the Company, or if earlier, his or her death. Any payments delayed pursuant to this paragraph shall be made in a lump sum on the first day of the seventh month following the Participant's separation from service, or if earlier, the Participant's death. Each payment upon settlement of RSUs (and any related dividend or related dividend equivalent rights) constitutes a "separate payment" for purposes of Section 409A of the Code. Notwithstanding any other provision of this Agreement, if and to the extent that any payment under this Agreement constitutes non-qualified deferred compensation under Section 409A of the Code, and is payable upon (i) the Participant's termination of Service, then such payment shall be made or provided to the Participant only upon a "separation from service" as defined for purposes of Section 409A of the Code, or (ii) a Change in Control, then such payment shall be made or provided to the Participant only upon a "change in the ownership", a "change in effective control" or a "change in the ownership of a substantial portion of the assets" of the applicable corporation as defined for purposes of Section 409A of the Code.

*[signature page follows]*

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&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;

IN WITNESS WHEREOF, the parties hereto have executed and delivered this Agreement as of the day and year first above written.

**BROOKDALE SENIOR LIVING INC.**

By: &nbsp;&nbsp;&nbsp;&nbsp; <u>/s/ Chad C. White&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>

Name: &nbsp;&nbsp;&nbsp;&nbsp;Chad C. White

Title: &nbsp;&nbsp;&nbsp;&nbsp;Executive Vice President, General Counsel

&nbsp;&nbsp;&nbsp;&nbsp; and Secretary

**PARTICIPANT**

<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u><br> «First_Name» «Last_Name»

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&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;

**<u>EXHIBIT A</u>**

**2026 Adjusted EBITDA\***

Vesting of the First Tranche (plus any Additional RSUs that become issuable pursuant to Section 2(a) of the Agreement) will be dependent upon the Company's Adjusted EBITDA for fiscal 2026 as set forth in the grid below, with vesting to be interpolated on a straight-line basis between the applicable levels based on actual results. Adjusted EBITDA means the Adjusted EBITDA as reported by the Company in its Annual Report on Form 10-K, earnings release and/or supplemental information for the year ended December 31, 2026.

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| | |
|:---|:---|
| **2026 Adjusted EBITDA** | **% of Target First Tranche to Vest** |
| $[\*\*\*] million (Maximum) | 175% |
| $[\*\*\*] million (Target) | 100% |
| $[\*\*\*] million (Threshold) | 50% |
| Below $[\*\*\*] million | No Vesting |

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\*Subject in all cases to the terms of the Plan and the Agreement, including the discretionary and interpretative authority of the Administrator set forth in the Plan and the Agreement.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**<u>EXHIBIT B</u>**

**2027 Adjusted EBITDA Growth\***

Vesting of the Second Tranche (plus any Additional RSUs that become issuable pursuant to Section 2(a) of the Agreement) will be dependent upon the Company's one-year growth of Adjusted EBITDA for fiscal 2027 compared to a base year of fiscal 2026 as set forth in the grid below, with vesting to be interpolated on a straight-line basis between the applicable levels based on actual results. Adjusted EBITDA means the Adjusted EBITDA as reported by the Company in its Annual Report on Form 10-K, earnings release and/or supplemental information for the year ended December 31, 2027.

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| | |
|:---|:---|
| **Growth Rate** | **% of Target Second Tranche to Vest** |
| [\*\*\*]% or Above (Maximum) | 175% |
| [\*\*\*]% (Target) | 100% |
| [\*\*\*]% (Threshold) | 50% |
| Below [\*\*\*]% | No Vesting |

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\*Subject in all cases to the terms of the Plan and the Agreement, including the discretionary and interpretative authority of the Administrator set forth in the Plan and the Agreement.

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**<u>EXHIBIT C</u>**

**2028 Adjusted EBITDA Growth\***

Vesting of the Third Tranche (plus any Additional RSUs that become issuable pursuant to Section 2(a) of the Agreement) will be dependent upon the Company's one-year growth of Adjusted EBITDA for fiscal 2028 compared to a base year of fiscal 2027 as set forth in the grid below, with vesting to be interpolated on a straight-line basis between the applicable levels based on actual results. Adjusted EBITDA means the Adjusted EBITDA as reported by the Company in its Annual Report on Form 10-K, earnings release and/or supplemental information for the year ended December 31, 2028.

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| | |
|:---|:---|
| **Growth Rate** | **% of Target Third Tranche to Vest** |
| [\*\*\*]% or Above (Maximum) | 175% |
| [\*\*\*]% (Target) | 100% |
| [\*\*\*]% (Threshold) | 50% |
| Below [\*\*\*]% | No Vesting |

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\*Subject in all cases to the terms of the Plan and the Agreement, including the discretionary and interpretative authority of the Administrator set forth in the Plan and the Agreement.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**<u>EXHIBIT D</u>**

**Relative TSR\***

Vesting of the Fourth Tranche (plus any Additional RSUs that become issuable pursuant to Section 2(a) of the Agreement) will be dependent upon the Company's TSR ranking relative to the TSRs of the companies in the two Comparator Groups (equally weighted) during the Performance Period as set forth in the grid below, with vesting to be interpolated on a straight-line basis between the applicable levels based on actual results; provided, however, that in no event shall any Additional RSUs (above 100%) vest and be issued with respect to the Fourth Tranche if the Company's TSR is negative for the Performance Period.

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| | |
|:---|:---|
| **Relative TSR Performance** | **% of Target Fourth Tranche to Vest** |
| 75th Percentile or Above (Maximum) | 175% |
| 50th Percentile (Target) | 100% |
| 25th Percentile (Threshold) | 50% |
| Below 25th Percentile | No Vesting |

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For purposes of the foregoing:

• Performance Period shall mean January 1, 2026 through December 31, 2028.

• The first Comparator Group shall mean the constituent companies of the Russell 3000 index and the second Comparator Group shall mean the public companies that comprise the GICS 35102020 (Healthcare facilities) as of the beginning of the Performance Period, except that in each case that any such companies that have been acquired or delisted from a national securities exchange during the Performance Period will be excluded. For purposes of testing results, the Company's relative TSR will be tested against each Comparator Group weighted 50% each.

• TSR shall mean the compound annual total stockholder return calculated using a beginning price equal to the average closing price over the 20-trading days preceding the beginning of the Performance Period, using an ending price equal to the average closing price over the 20-trading days immediately prior to the end of the Performance Period, and assuming the reinvestment of any dividends or distributions as of the ex-dividend date.

\*Subject in all cases to the terms of the Plan and the Agreement, including the discretionary and interpretative authority of the Administrator set forth in the Plan and the Agreement.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**ADDENDUM TO<br>PERFORMANCE-BASED RESTRICTED STOCK UNIT AGREEMENT<br>UNDER THE BROOKDALE SENIOR LIVING INC.<br>2024 OMNIBUS INCENTIVE PLAN.**

**Section 2:**

Notwithstanding Section 2 or anything in the Agreement to the contrary:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;In the event that the Participant's Service with the Company and its Subsidiaries and Affiliates (or a successor to any of them) is terminated within twelve months following a Change in Control by the Company (or such other entity) without Cause or by the Participant for Good Reason (as defined in the Company's Amended and Restated Tier I Severance Pay Policy or the Company's Amended and Restated Tier II Severance Pay Policy, whichever is applicable to Participant), then the RSUs that are outstanding effective on the date of such termination shall vest effective upon such termination and be settled within 30 days following such termination.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) &nbsp;&nbsp;&nbsp;&nbsp;In the event that the Participant's Service with the Company and its Subsidiaries and Affiliates is terminated by the Company without Cause (other than as described in paragraph (i) above) or on account of the Participant's death or Disability, the following percentages of the applicable Tranches that are outstanding effective on the date of such termination of employment shall remain outstanding following such termination and shall be eligible to vest (including any Additional RSUs) subject to the achievement of the Performance Criteria as if the Service Condition shall have been met as of the applicable Vesting Date:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) &nbsp;&nbsp;&nbsp;&nbsp;100% of the First Tranche and 33.33% of the Fourth Tranche for such termination that occurs on or prior to February 27, 2027 (with 100% of the Second Tranche and Third Tranche, and 66.67% of the Fourth Tranche, to be forfeited at termination);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) &nbsp;&nbsp;&nbsp;&nbsp;100% of the First Tranche and Second Tranche, and 66.67% of the Fourth Tranche, for such termination that occurs after February 27, 2027 and on or prior to February 27, 2028 (with 100% of the Third Tranche and 33.33% of the Fourth Tranche to be forfeited at termination); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C)&nbsp;&nbsp;&nbsp;&nbsp;100% of the First Tranche, Second Tranche, Third Tranche, and Fourth Tranche, for such termination that occurs after February 27, 2028 and on or prior to February 27, 2029.

Notwithstanding the foregoing, (A) in the event of a Change in Control following a termination event described in this subparagraph (ii), the RSUs outstanding effective immediately prior to such Change in Control shall vest and be settled upon the consummation of the Change in Control; and (B) in the event the Participant's employment is terminated on account of Disability and the Participant did not actively provide services on at least one day in the one-year period immediately preceding the date set forth in clause (A) or the later date set forth in the applicable clause (B), or (C), then the treatment of the outstanding Tranches shall be as set forth in the earlier clause for which the Participant actively provided services at least one

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day in the one-year period immediately preceding such date or later date, as applicable, set forth in such clause (and in the event that the Participant did not actively provide services on at least one day in the one-year period immediately preceding the date set forth in clause (A), then 100% of the Tranches shall be forfeited at termination).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;In the event the Participant retires from the Company and its Subsidiaries and Affiliates (A) on or after attaining age sixty (60) with a minimum of five (5) years of service with the Company and its Subsidiaries and Affiliates and (B) after providing no less than six (6) months' advance written notice to the Company of the anticipated Retirement, the following percentages of the Tranches that are outstanding effective on the date of such Retirement shall remain outstanding following such Retirement and shall be eligible to vest (including any Additional RSUs) subject to the achievement of the Performance Criteria as if the Service Condition shall have been met as of the applicable Vesting Date:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;&nbsp;&nbsp;for a Retirement date that occurs prior to February 12, 2027, the percentage equal to the number of full months employed since the Date of Grant divided by 12 (with the remaining percentage of the Tranches to be forfeited upon the date of such Retirement); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;&nbsp;&nbsp;&nbsp;for a Retirement date that occurs on or after February 12, 2027, 100% of the Tranches.

In the event the Participant's service with the Company and its Subsidiaries and Affiliates (or a successor to any of them) is terminated for any reason and the Participant resumes service with the Company within five (5) years from the date of termination, the minimum of five (5) years of service with the Company and its Subsidiaries and Affiliates required for eligibility in clause (iii)(A) will include such service with the Company completed prior to the initial termination for purposes of determining eligibility under this clause (iii).

**Section 4:** 

The Participant shall have no voting rights with respect to RSUs outstanding on any applicable record date. Any ordinary or extraordinary cash or stock dividend that may be declared and paid on the Common Stock with a record date on or after the Date of Grant and prior to the settlement date of the RSUs shall be deposited (in the same form as was payable to the holders of Common Stock) in an account and be paid upon, and subject to, the vesting and settlement of the RSUs. For the avoidance of doubt, the Participant shall not be entitled to payment of dividends or dividend equivalents with respect to an RSU unless and until the vesting and settlement of such RSU in accordance with this Agreement, and all such dividends or dividend equivalents with respect to any RSU shall forfeit upon the forfeiture of such RSU.

**Section 11: <u>Commitment to Avoid Detrimental Activities</u>.** 

The Participant understands the Company has developed, and is continuing to develop, substantial relationships with actual and prospective officers, directors, employees, consultants, agents, customers, residents, patients, referral sources, clients, vendors, suppliers, investors, and

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equity and financing sources, associate and customer goodwill, and confidential and proprietary business information and trade secrets, which the Company and its Subsidiaries and Affiliates have the right to protect in order to safeguard their legitimate business interests. Any misappropriation of such relationships or goodwill, or any improper disclosure or use of the Company's and its Subsidiaries' and Affiliates' confidential and proprietary business information and trade secrets would be highly detrimental to their business interests in that serious and substantial loss of business and pecuniary damages would result therefrom. The Participant also acknowledges and recognizes that an important purpose of this Agreement is to align the interests of the Participant with those of the Company's stockholders and to ensure that the Participant does not engage in activity detrimental to the interests of the Company's stockholders if the Participant is going to be allowed the opportunity to participate in the financial rewards that result from the RSUs and their relationship to the value of equity participation in the Company. In addition, the Participant acknowledges that an ancillary purpose consistent with protecting the interests of the stockholders arises with respect to the Participant because during the period of the Participant's employment with the Company or any Subsidiary or Affiliate, the Participant shall have access to the Company's Confidential Information (as defined below) and will meet and develop such relationships and goodwill. The Participant accordingly agrees to comply with the provisions of this Section 11 as a condition of receipt and retention of the RSUs provided for in this Agreement and their beneficial value. The Participant acknowledges and agrees not to contest or dispute the Company's position that the prohibition of unfair competition provided for in this Section 11 is inextricably connected to and part of the Company's governance of its internal affairs and relates directly to the interests of the Company's stockholders. Nothing contained in this Section 11 shall limit any common law or statutory obligation that the Participant may have to the Company or any Subsidiary or Affiliate. For purposes of this Section 11, the "Company" refers to the Company and any incorporated or unincorporated affiliates of the Company, including any entity which becomes the Participant's employer as a result of any reorganization or restructuring of the Company for any reason. The Company shall be entitled, in connection with its tax planning or other reasons, to terminate the Participant's employment (which termination shall not be considered a termination for any purposes of this Agreement, any employment agreement, or otherwise) in connection with an invitation from another affiliate of the Company to accept employment with such affiliate in which case the terms and conditions hereof shall apply to the Participant's employment relationship with such entity mutatis mutandis.

For purposes of this Section 11, "Competing Business" means a business (which shall include any sole proprietorship, partnership, limited partnership, limited liability partnership, limited liability company, corporation or other for-profit or not-for-profit business organization) (A) engaged in the business of owning, operating**,** or managing senior living facilities within the United States or (B) engaged in any other business that constitutes twenty percent (20%) or more of the Company's annualized consolidated revenues or contributes twenty percent (20%) or more of the Company's consolidated annualized net operating income at any time during the Participant's employment. Notwithstanding the foregoing, this Section 11 shall not prohibit the Participant from (i) being a passive owner of not more than 2% of the outstanding stock of any class of a company that is publicly traded so long as the Participant does not have any active participation in the business of such company, (ii) passively investing in private investment

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funds whose principal investment strategy is not directed toward investing in entities that engage in or operate in a Competing Business; or (iii) commencing employment with or providing services to either (A) a private equity or financial sponsor that owns, invests in, or operates a business that engages in a Competing Business so long as the Participant does not perform services for the entity or business that is engaged in a Competing Business or (B) a subsidiary, division, or unit of any entity that has a diversified business so long as Executive does not perform services for or in respect of the business that engages in the Competing Business so long as the Participant does not perform services for or in respect of the business that engages in the Competing Business, in each case provided that the Participant's confidentiality obligations shall continue to bind the Participant prior to and during any term of such employment or provision of services, and, provided further for purposes of this clause (iii), that any such private equity or financial sponsor or diversified business does not receive at least twenty percent (20%) of its revenues from owning, investing in, or operating a business that engages in a Competing Business.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(a)**&nbsp;&nbsp;&nbsp;&nbsp;**<u>Avoidance of Competition and Other Detrimental Acts During Engagement</u>.** While employed or otherwise engaged as an individual to provide services to the Company (as an employee, consultant, or otherwise), the Participant will comply with each of the restrictions and obligations below.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(1)**&nbsp;&nbsp;&nbsp;&nbsp;While employed with the Company, the Participant will comply at all times with the Participant's duty of loyalty to the Company as an employee or agent of the Company placed in a position of special trust and confidence. This duty shall be understood to include, but not be limited to,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(i)** &nbsp;&nbsp;&nbsp;&nbsp;an obligation not to engage or participate in the business of a Competing Business, or become employed with a Competing Business as an employee, owner, member, partner, consultant, director, or otherwise, without the express written consent of the Company,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(ii)** &nbsp;&nbsp;&nbsp;&nbsp;an obligation not to interfere with or otherwise knowingly cause harm to the Company's ongoing or prospective business relationship with a Company employee, consultant, or individual providing services as an independent contractor, or a supplier, distributor, vendor, customer, or other person or entity that does business with the Company or that the Company has a reasonable expectation of doing business with, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(iii)** &nbsp;&nbsp;&nbsp;&nbsp;an obligation to inform the Company of business opportunities that fall within the Company's line of business and not pursue them for personal gain separate from the Company without the Company's express written consent in advance, or otherwise participate in any conduct or relationship that creates a conflict of interest in violation of Company policies.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(2)**&nbsp;&nbsp;&nbsp;&nbsp;The Participant will not knowingly participate in or pursue activities that harm the value of the Company's intellectual property and will honor all agreements with the Company concerning the ownership and protection of proprietary works and intellectual property.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(b)**&nbsp;&nbsp;&nbsp;&nbsp;**<u>Avoidance of Competition and Other Detrimental Acts After Engagement</u>.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(1)**&nbsp;&nbsp;&nbsp;&nbsp;**<u>Noncompete</u>.** The Participant agrees that for the one (1) year period immediately following the termination of the Participant's employment with the Company (or any Subsidiary or Affiliate) for any reason or for no reason (the "Non-Compete Restricted Period"), the Participant shall not, directly or by assisting or directing others, either as a principal, agent, employee, employer, consultant, partner, shareholder of a closely held corporation or shareholder in excess of five percent of a publicly traded corporation, corporate officer or director, or in any other individual or representative capacity, engage or otherwise participate in any manner or fashion in any business that is a Competing Business (as defined herein). Notwithstanding the foregoing, (i) if the Participant's employment is terminated by the Participant after the Participant experiences an aggregate reduction to the Participant's annual target cash compensation by 20% or more, the covenant in this Section 11(b)(1) shall not apply; and (ii) the covenant in this Section 11(b)(1) shall not be interpreted to restrict the Participant's right to practice law in violation of any rules of professional conduct applicable to the Participant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(2)&nbsp;&nbsp;&nbsp;&nbsp;<u>Solicitation of Employees, Clients, Referral Sources, Key Business Relationships.</u>** The Participant agrees that during the period of the Participant's employment with the Company or any Subsidiary or Affiliate, and for the two (2) year period immediately following the date of termination of such employment for any reason (the "Non-Solicit Restricted Period"), the Participant shall not, directly or by assisting or directing others, jointly or individually, on the Participant's own behalf or on behalf of or in assistance to any individual, person or entity:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(i)**&nbsp;&nbsp;&nbsp;&nbsp;(x) solicit, or attempt to solicit, any Covered Employee (as defined below) for employment or service with any entity other than the Company or any Subsidiary or Affiliate; or (y) recruit or facilitate the hire, or attempt to recruit or facilitate the hire, of any Covered Employee on behalf of a Competing Business, or otherwise induce or encourage any Covered Employee to terminate or sever his, her, or its employment or other relationship with the Company or any Subsidiary or Affiliate or any of their successors or assigns; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(ii)**&nbsp;&nbsp;&nbsp;&nbsp;(x) solicit business from any Covered Customer (as defined below) in connection with, on behalf of or for the benefit of a Competing Business; or (y) otherwise induce or encourage any Covered Customer to terminate, change, or reduce his, her, or its relationship with the Company or any Subsidiary or Affiliate or any of their successors or assigns for any reason; or

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(iii)**&nbsp;&nbsp;&nbsp;&nbsp;(x) solicit business from any Covered Referral Source (as defined below) in connection with, on behalf of or for the benefit of a Competing Business; or (y) otherwise induce or encourage any Covered Referral Source to terminate, change, or reduce his, her, or its relationship with the Company or any Subsidiary or Affiliate or any of their successors or assigns for any reason; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(iv)&nbsp;&nbsp;&nbsp;&nbsp;**(x) solicit business from any Key Business Relationship (as defined below) in connection with, on behalf of or for the benefit of a Competing Business; or (y) otherwise induce or encourage any Key Business Relationship to terminate, change, or reduce his, her, or its relationship with the Company or any Subsidiary or Affiliate or any of their successors or assigns for any reason.

Notwithstanding the foregoing, a general advertisement or solicitation for employment that is not targeted and that does not have the effect of being targeted to any current or former Covered Employee shall not, by itself, be deemed to be a violation of the restrictions on solicitation contained in this Section 11(b)(2). For purposes of this Section 11(b)(2), "Covered Employee" shall mean (i) any officer, director, employee, or agent who is employed by the Company or any Subsidiary or Affiliate or any of their successors or assigns or was so employed or engaged at any time during the six (6) months prior to the Participant's termination of employment; and (ii) with whom the Participant worked, whom the Participant supervised, or about whom the Participant otherwise gained knowledge of because of the Participant's employment with the Company (or any Subsidiary or Affiliate) during the Look Back Period (as defined below); provided, however, that any such individual who has ceased to be employed by or engaged with the Company or any Subsidiary or Affiliate for a period of at least six (6) months shall no longer be deemed a Covered Employee. "Covered Customer" shall mean (i) any customers, residents, patients or clients of the Company or any Subsidiary or Affiliate or any of their successors or assigns; and (ii) (x) with whom/which the Participant had material business-related contact during the Look Back Period; or (y) about whom/which the Participant received Confidential Information during the Look Back Period. "Covered Referral Source" shall mean (i) any person or entity who/which has referred business to the Company or any Subsidiary or Affiliate or any of their successors or assigns during the Look Back Period; and (ii) (x) with whom/which the Participant had material business-related contact during the Look Back Period; or (y) about whom/which the Participant received Confidential Information during the Look Back Period. "Key Business Relationship" shall mean (i) any vendors, suppliers, investors, equity or financing sources, or consultants of the Company or any Subsidiary or Affiliate or any of their successors or assigns; and (ii) (x) with whom/which the Participant had material business-related contact during the Look Back Period; or (y) about whom/which the Participant received Confidential Information during the Look Back Period. Material business-related contact is presumed present for any persons or individuals with whom/which Employee had more than incidental business-related contact during the Look Back Period. The restrictions contained in Section 11(b)(2) are understood to be reasonably limited by geography to those locations, and counties, where the Covered Employees, Covered Customers, Covered Referral Sources, or Key Business Relationships are present and available for solicitation. However, to the extent additional geographic limitations are required to make the restrictions enforceable, they shall be deemed limited to the Territory.

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"Territory" means: (i) those states and counties in which the Company is engaged in business (or actively planning to engage in business in the near term) (including state and state-equivalents and county and county-equivalents therein) at the time the Participant's employment ends and/or about which the Participant was provided access to Confidential Information during the Look Back Period; and, (ii) the state and county where the Participant resides. The Participant is presumed to have participated in the Company's business and/or had Confidential Information about the Company's business throughout each state in the United States (including state and state-equivalents and county and county-equivalents therein) in which the Company is engaged in business (or actively planning to engage in business in the near term) at the time the Participant's employment ends. The Participant is responsible for seeking clarification from the Company's Human Resources department if it is unclear to the Participant at any time what the scope of the Territory is.

"Look Back Period" means the last eighteen (18) months of the Participant's employment or such shorter period of time as the Participant was actually employed or engaged to provide personal services to the Company or its Subsidiaries.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(c)&nbsp;&nbsp;&nbsp;&nbsp;<u>Disparaging Comments</u>.** The Participant agrees that during the period of the Participant's employment with the Company or any Subsidiary or Affiliate, and any time thereafter, the Participant shall not make any disparaging or defamatory comments regarding the Company or any Subsidiary or Affiliate or any of their successors or assigns, or any time after termination of such employment, make any comments concerning any aspect of the termination of their relationship. The obligations of the Participant under this Section 11(c) shall not apply to Protected Conduct (as defined below).

&nbsp;&nbsp;&nbsp;&nbsp;**(d)&nbsp;&nbsp;&nbsp;&nbsp;<u>Confidentiality</u>.** All books of account, records, systems, correspondence, documents, memoranda, manuals, email, electronic or magnetic recordings or data and any and all other data, or compilations of such data or information, in whatever form and any copies thereof, concerning or containing any reference to the works and business of the Company or any Subsidiary or Affiliate shall belong to the Company and shall be given up to the Company whenever the Company requires the Participant to do so, other than documents pertaining to the Participant's individual compensation (such as pay stubs and benefit plan booklets). The Participant agrees that the Participant shall not at any time during the term of the Participant's employment with the Company or any Subsidiary or Affiliate, or at any time thereafter, without the Company's prior written consent, disclose to any individual, person or entity any Confidential Information, nor will the Participant use, store, transmit, upload, copy, or download any Confidential Information, except as necessary in the performance of their job duties for the Company.

"Confidential Information" means any item or compilation of information or data, in whatever form (tangible or intangible), related to the Company's business that the Participant acquires or gains access to in the course of their employment with the Company that the Company has not authorized public disclosure of, and that is not readily available to the public or persons outside the Company through proper means. By way of example and not limitation, Confidential

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Information is understood to include: (1) any financing strategies and practices, pricing strategies, structures and methods, underlying pricing-related variables such as costs, volume discounting options, and profit margins; training and operational procedures, advertising, marketing, and sales information or methodologies or financial information, business forecasts and expansion plans; (2) information relating to the Company's or any Subsidiary's or Affiliate's or any of their customers', referral sources' or clients' practices, businesses, procedures, systems, plans or policies, client lists, or prospective client lists; (3) information relating to residents or patients and their contract terms; and (4) associate/personnel data, including contact information obtained in the Participant's role in management. Confidential Information shall be understood to include any and all Company trade secrets (as defined under applicable state or federal law), but an item need not be a trade secret to qualify as Confidential Information. An item of Confidential Information will ordinarily constitute a trade secret under state or federal law if (a) it derives independent economic value, actual or potential, from not being generally known to, and not being readily ascertainable by proper means by, other persons who can obtain economic value from its disclosure or use, and (b) it is the subject of efforts that are reasonable under the circumstances (or under federal law, using reasonable measures) to maintain its secrecy. Something is not acquired through proper means if acquired through theft, bribery, misrepresentation, breach or inducement of a breach of a duty to maintain secrecy by contract or otherwise, or espionage through electronic or other means. For purpose of clarity, it shall still be a violation of this Agreement for a non-management employee to wrongfully compete by sharing Confidential Information, which was obtained through the course of employment with the Company, with a competitor about other employees' compensation and benefits for purposes of assisting such competitor in soliciting Company employees.

The Participant hereby confirms that all Confidential Information constitutes the Company's exclusive property, and that all of the restrictions on the Participant's activities contained in this Agreement and such other nondisclosure policies of the Company are required for the Company's reasonable protection. Confidential Information shall not include any information that has otherwise been disclosed to the public not in violation of this Agreement. This confidentiality provision shall survive the termination of this Agreement and shall not be limited by any other confidentiality agreements entered into with the Company or any Subsidiary or Affiliate. Notwithstanding the foregoing, nothing in this Agreement (or any other Company policy or contract to which the Participant is or was subject) shall be construed to prohibit the Participant from communicating with any federal, state or local governmental agency or commission with oversight of the Company without notice to the Company, as provided for, protected under or warranted by applicable law. Further, the restrictions provided for in this Section 11(d) shall not be construed to prohibit the use of general knowledge and experience customarily relied upon in the Participant's trade or profession that is not specific to the particular business matters of the Company (such as its business transactions, customers, residents, clients, or employees).

With respect to any Confidential Information that constitutes a "trade secret" pursuant to applicable law, the restrictions described above shall remain in force for so long as the particular information remains a trade secret or for the two (2) year period immediately following termination of the Participant's employment for any reason, whichever is longer. With respect to

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any Confidential Information that does not constitute a "trade secret" pursuant to applicable law, the restrictions described above shall remain in force during the Participant's employment and for the two (2) year period immediately following termination of such employment for any reason. Nothing in the foregoing shall be construed to permit the Participant to recreate records of Confidential Information from memory or retain copies of Confidential Information in any form after their employment or engagement with the Company ends. The Participant understands that they should have no records of this kind in their possession or control with which to refresh their memory after the Participant's employment with the Company or any Subsidiary or Affiliate ends.

Notwithstanding anything to herein to the contrary, the Participant shall be permitted to use and disclose Confidential Information (solely as it relates to his or her compensation, benefits, and equity ownership) to (A) the Participant's immediate family members, (B) the Participant's attorneys, financial advisors, accountants, and other professional advisors who are bound by obligations of confidentiality, or (C) any other person to which such use or disclosure is necessary (w) to effect compliance with applicable law, (x) to pursue the Participant's rights or claims under this Agreement, or (z) to pursue the Participant's rights or claims to indemnification or under directors' and officers' liability insurance policies.

The Participant agrees that the Participant shall promptly disclose to the Company in writing all information and inventions generated, conceived or first reduced to practice by the Participant alone or in conjunction with others, during or after working hours, while in the employ of the Company or any Subsidiary or Affiliate (all of which is collectively referred to in this Agreement as "Proprietary Information"); provided, however, that such Proprietary Information shall not include (a) any information that has otherwise been disclosed to the public not in violation of this Agreement and (b) general business knowledge and work skills of the Participant, even if developed or improved by the Participant while in the employ of the Company or any Subsidiary of Affiliate. All such Proprietary Information shall be the exclusive property of the Company and is hereby assigned by the Participant to the Company. The Participant's obligation relative to the disclosure to the Company of such Proprietary Information anticipated in this Section 11(d) shall continue beyond the Participant's termination of employment and the Participant shall, at the Company's expense, give the Company all assistance it reasonably requires to perfect, protect and use its right to the Proprietary Information.

<u>DTSA Notice</u>: The Defend Trade Secrets Act of 2016 (DTSA) provides that no individual will be held criminally or civilly liable under Federal or State trade secret law for the disclosure of a trade secret that: (i) is made in confidence to a Federal, State, or local government official, either directly or indirectly, or to an attorney; and made solely for the purpose of reporting or investigating a suspected violation of law; or, (ii) is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal so that it is not made public. It also provides that an individual who pursues a lawsuit for retaliation by an employer for reporting a suspected violation of the law may disclose the trade secret to the attorney of the individual and use the trade secret information in the court proceeding if the individual files any document containing the trade secret under seal and does not disclose the trade secret except as permitted by court order.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(e)&nbsp;&nbsp;&nbsp;&nbsp;<u>Enforcement</u>.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(1)**&nbsp;&nbsp;&nbsp;&nbsp;The Participant acknowledges that compliance with all provisions, covenants and agreements set forth in this Agreement, and the duration, terms and geographical area thereof, are reasonable and necessary to protect the legitimate business interests of the Company and its Subsidiaries and Affiliates. 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(2)**&nbsp;&nbsp;&nbsp;&nbsp;The Participant acknowledges that a breach of the Participant's obligations under this Section 11 may result in irreparable and continuing damage to the Company and/or its Subsidiaries and Affiliates for which there is no adequate remedy at law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(3)**&nbsp;&nbsp;&nbsp;&nbsp;The Participant acknowledges that the Participant's education, experience and/or abilities are such that the enforcement of the restrictive covenants in this Agreement will not prevent the Participant from earning a living and will not cause any undue hardship upon the Participant. Further, the Participant acknowledges that the equity they receive under this Agreement is mutually agreed upon consideration that is adequate and sufficient to make the covenants in Section 11 immediately binding and enforceable against them.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(4)**&nbsp;&nbsp;&nbsp;&nbsp;In the event of the violation by the Participant of any of the covenants contained in Section 11 the terms of each such covenant so violated shall be automatically extended from the date on which the Participant permanently ceases such violation for a period equal to the period in which the Participant was in breach of the covenant or for a period of twelve (12) months from the date of the entry by a court of competent jurisdiction of an order or judgment enforcing such covenant(s), whichever period is later; provided, however, this extension of time shall be capped, except as to violations of Section 11(d), so that the extension of time does not exceed two years from the date the Participant's employment ended, and if this extension would make the restriction unenforceable under applicable law it will not be applied.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(5)**&nbsp;&nbsp;&nbsp;&nbsp;Each of the restrictive covenants contained in this Agreement is independent of any other contractual obligations of this Agreement or otherwise owed by the Participant to the Company and/or its Subsidiaries and Affiliates. Further, should the Participant be subject to an agreement with the Company containing confidentiality, non-solicitation, and/or noncompetition provisions, the restrictive covenants in this Agreement shall supplement (rather than supersede) the covenants in such other agreements ("Other Covenants"), and the Other Covenants shall remain in full force and effect. To the extent any conflict exists between the restrictions set forth in Section 11 and the Other Covenants, the Company shall be provided the greatest protection set forth in either agreement. The existence of any claim or cause of action by the Participant against the Company and/or its Subsidiaries or Affiliates, whether based on this Agreement or otherwise, shall not create a defense to the enforcement by the Company and/or its Subsidiaries and Affiliates of any restrictive covenant contained in this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(6)**&nbsp;&nbsp;&nbsp;&nbsp;Unless otherwise stated in Section 11(h), the Participant received a copy of this Agreement at least fourteen (14) days in advance of the date the Participant was expected to sign it. The Participant understands that the Company has advised them to use this time to consult with an attorney regarding this Agreement and that the Participant has a right to do so.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(7)**&nbsp;&nbsp;&nbsp;&nbsp;<u>Protected Conduct</u>. Nothing in this Agreement prohibits the Participant from: (i) opposing an event or conduct that the Participant reasonably believes is a violation of law, including criminal conduct, discrimination, harassment, retaliation, a safety or health violation, or other unlawful employment practices (whether in the workplace or at a work-related event); or (ii) disclosing sexual assault, sexual abuse, or sexual harassment (in the workplace, at work-related events, between employees, or between an employer and an employee or otherwise); or (iii) reporting such an event or conduct to the Participant's attorney, law enforcement, or the relevant law-enforcement agency (such as the Securities and Exchange Commission, Department of Labor, Occupational Safety and Health Administration, Equal Employment Opportunity Commission, or any equivalent state or local government agencies); or (iv) making any truthful statements or disclosures required by law or otherwise cooperating in an investigation conducted by any government agency (collectively referred to as "Protected Conduct"). Further, nothing requires notice to or approval from the Company before engaging in such Protected Conduct.

&nbsp;&nbsp;&nbsp;&nbsp;**(f)&nbsp;&nbsp;&nbsp;&nbsp;<u>Remedies</u>.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(1)**&nbsp;&nbsp;&nbsp;&nbsp;It is intended that, in view of the nature of the Company's and its Subsidiaries' and Affiliates' business, the restrictions contained in this Agreement are considered reasonable and necessary to protect the Company's and its Subsidiaries' and Affiliates' legitimate business interests and that any violation of these restrictions would result in irreparable injury to the Company and/or its Subsidiaries and Affiliates. In the event of a breach (a "Covenant Breach") or threatened breach by the Participant of any provision contained herein, the Company and its Subsidiaries and Affiliates may seek a temporary restraining order and injunctive relief. Nothing contained herein shall be construed as prohibiting the Company or its Subsidiaries or Affiliates from pursuing any other legal or equitable remedies available to it or them for any breach or threatened breach of these provisions, including, without limitation, recoupment and other remedies specified in the Agreement. In the event of a dispute regarding, arising out of, or in connection with the breach, enforcement or interpretation of this Agreement, including, without limitation, any action seeking injunctive relief, and provided that the Company is the prevailing party, the Company shall recover from the Participant all reasonable attorneys' fees and costs incurred by the Company in connection therewith ("Attorneys' Fees Remedy"). If under applicable law, the foregoing cannot be enforced without also giving the Participant the right to recover attorneys' fees and costs if deemed the prevailing party, then the foregoing sentence shall not apply and both parties shall bear their own attorney's fees and costs instead. The Company shall be deemed the prevailing party if it is awarded any part of the legal or equitable relief it seeks, irrespective of whether some of the relief it seeks is denied or modified.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(2)**&nbsp;&nbsp;&nbsp;&nbsp;In the event of a Covenant Breach, the Company shall have the authority to (i) cancel all outstanding RSUs, whether vested or unvested; (ii) cancel all Shares beneficially owned by the Participant that were issued in settlement of RSUs within 12 months on or prior, or at any time after, the date of the Participant's termination of employment ("Cancellable Shares"); and (iii) recoup from the Participant any proceeds from the Participant's sale, transfer or other disposition of Cancellable Shares; provided, however, that in the case of a Covenant Breach with

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respect to Section 11(b)(1) of this Addendum, the Company may not exercise such remedy unless the Participant shall not have fully corrected such circumstances giving rise to the Covenant Breach under Section 11(b)(1) within thirty (30) days following written notification from the Company. The Company is hereby authorized by the Participant, as the Participant's attorney-in-fact, to execute all documents and undertake any required action on behalf of the Participant to transfer any Cancellable Shares back to the Company, after which the Participant shall not have any right, title, or interest of any kind to the Cancellable Shares. The Participant acknowledges and agrees that the Company has no obligation of any kind to the Participant with respect to the cancellation of RSUs or the Cancellable Shares, or the recoupment of proceeds from the disposition of Cancellable Shares, pursuant to this Section, including, but not limited to, reimbursement for any taxes previously paid by the Participant with respect to Cancellable Shares. This remedy shall be in addition to all other remedies, including those set forth in this Agreement and any other agreements between the parties. If the Participant resides in California, for so long as the Participant resides in California, this subsection (f)(2) shall not apply.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(g)&nbsp;&nbsp;&nbsp;&nbsp;<u>Company Intellectual Property</u>.** The Participant recognizes that all Works conceived, created, or reduced to practice by the Participant, alone or jointly with others, during the Participant's employment related to the business of owning, operating, or managing senior living facilities or providing private duty healthcare or other services to patients or customers shall to the fullest extent permissible by law be considered the Company's sole and exclusive property and "works made for hire" as defined in the U.S. Copyright Laws for purposes of United States law and the law of any other country adhering to the "works made for hire" or similar notion or doctrine, and will be considered the Company's property from the moment of creation or conception forward for all purposes without the need for any further action or agreement by the Participant or the Company. If any such Works or portions thereof shall not be legally qualified as a works made for hire in the United States or elsewhere, or shall subsequently be held to not be a work made for hire or not the exclusive property of the Company, the Participant hereby assigns to the Company all of the Participant's rights, title and interest, past, present, and future, to such Works. The Participant will not engage in any unauthorized publication or use of such Company Works, nor will the Participant use same to compete with or otherwise cause damage to the business interests of the Company. "Works" mean original works of authorship, including, but not limited to: literary works (including all written material), mask works, computer programs, formulas, tests, notes, data compilations, databases, artistic and graphic works (including designs, graphs, drawings, blueprints, and other works), recordings, models, photographs, slides, motion pictures, and audio visual works; whether copyrightable or not, and regardless of the form or manner in which documented or recorded.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(h)&nbsp;&nbsp;&nbsp;&nbsp;<u>State-Specific Modifications</u>.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(1)&nbsp;&nbsp;&nbsp;&nbsp;Alabama Addendum.** If a court of competent jurisdiction deems that Alabama law applies, then: (i) the definition of "Non-Solicit Restricted Period" shall be modified to include the period of the Participant's employment with the Company or any Subsidiary or Affiliate, and the eighteen (18) month period immediately following the date of termination of such employment for any reason; (ii) the definition of "Covered Employee" shall be modified to be further limited to those employees who are uniquely essential to the management,

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organization, or service of the business (such as an employee involved in management or significant customer sales or servicing); (iii) the definitions of "Covered Customer", "Covered Referral Source," and "Key Business Relationship" shall each be limited to those persons and entities with a current business relationship with the Company (or any Subsidiary or Affiliate) at the time of solicitation or other wrongful conduct; and (iv) Section 1(c) (Disparaging Comments) shall be modified to add the following language: "Nothing in this Agreement prevents the Participant from exercising the right to (1) communicate with a law enforcement officer acting within the line and scope of the officer's law enforcement duties that a violation of the law has occurred or is occurring; (2) communicate with a government regulator acting within the line and scope of the regulator's regulatory duties that a violation of the law has occurred or is occurring; (3) respond to a lawfully served judicial, grand jury, or other lawful subpoena; (4) testify in a judicial or administrative proceeding in response to a lawfully served subpoena or an order of a court of competent jurisdiction; (5) confer with the obligated party's attorney for the purpose of obtaining legal advice or representation; (6) respond to lawful discovery in a judicial or administrative action; provided the disparaging statement is either ordered by a court of competent jurisdiction or made in compliance with a protective order entered by the same court; (7) prosecute or defend a civil action between or among parties to a covered contract; provided the party making the disparaging statement attempts to and, if permitted by law, does file the disparaging statement and any related pleading under seal or in compliance with a protective order entered by a court of competent jurisdiction in the civil action; or (8) exercise federally protected statutory rights, including, but not limited to, the exercise of rights under the National Labor Relations Act or the Civil Rights Act of 1964, as amended."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(2) &nbsp;&nbsp;&nbsp;&nbsp;California Addendum.** Notwithstanding anything in the Agreement or the Addendum to the contrary, while the Participant resides or is primarily assigned to work in California during their employment by the Company or any of its Subsidiaries or Affiliates, then for so long as the Participant resides or is primarily assigned to work in California:

The Governing Law clause in Section 12 shall not be applied to deprive the Participant of the protections or benefits of California law, and nothing in this Agreement shall require the Participant to litigate a claim relating to this Section 11 outside of California. Section 11(b) shall not apply after the Participant's employment with the Company (or its Subsidiary or Affiliate) ends. However, any conduct relating to the solicitation of the Company's residents, patients, referral sources, investors, equity or financing sources, consultants, or employees that involves the misappropriation of the Company's trade secret information, such as its protected customer information, will remain prohibited conduct at all times, and nothing in this Agreement shall be construed to limit or eliminate any rights or remedies the Company would have against the Participant under trade secret law, unfair competition law, or other laws applicable in California absent this Agreement. In addition to the other forms of Protected Conduct, nothing in the Agreement shall be construed to prohibit the Participant from disclosing information about unlawful acts in the workplace, such as harassment or discrimination or any other conduct that the Participant has reason to believe is unlawful. The Attorneys' Fees Remedy in the last three sentences of Section 11(f)(1) shall be replaced with the following language: "In the event that the Company is successful in securing any

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temporary, preliminary, and/or permanent injunctive relief, and/or an award of damages or other judicial relief against the Participant in connection with any breach of this Agreement, the Participant agrees that the Company shall also be entitled to recover all remedies that may be awarded by a court of competent jurisdiction or arbitrator and any other legal or equitable relief allowed by law."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(3)&nbsp;&nbsp;&nbsp;&nbsp;Colorado Addendum.** Notwithstanding anything in the Agreement or the Addendum to the contrary, while the Participant resides or is primarily assigned to work in Colorado during their employment by the Company or any of its Subsidiaries or Affiliates, then for so long as the Participant resides or is primarily assigned to work in Colorado:

The Governing Law clause in Section 12 shall not be applied to deprive the Participant of the protections or benefits of Colorado law, and nothing in this Agreement shall require the Participant to litigate a claim relating to this Section 11 outside of Colorado. The non-competition covenant in Section 11(b)(1), and the Covered Referral Source non-solicitation in Section 11(b)(2)(iii), and the Key Business Relationship non-solicitation in Section 11(b)(2)(iv) will not be enforceable against the Participant unless the Participant's earnings from the Company, when annualized, exceed the equivalent of $130,014 per year or the earnings threshold in effect as adjusted annually by the Colorado Division of Labor Standards and Statistics in the Department of Labor and Employment. If the Participant does not earn an amount of annualized cash compensation equivalent to or greater than sixty-percent of the threshold amount for highly compensated workers, $78,009 (or the earnings threshold in effect as adjusted annually by the Colorado Division of Labor Standards and Statistics in the Department of Labor and Employment) ("Colorado Customer Non-Solicit Earnings Threshold"), then the client non-solicitation obligations in Section 11(b)(2)(ii) shall not apply after the Participant's employment with the Company ends. The definitions of "Covered Customer," "Covered Referral Source," and "Key Business Relationship" shall each be modified to be further limited to only those customers, residents, patients, referral sources, investors, equity or financing sources, or consultants with respect to which the Participant would have been provided trade secret information during the last one year of the Participant's employment with the Company. The Participant stipulates that the non-competition and covered customer, covered referral source, and key business relationship non-solicitation obligations in Sections 11(b)(1), and 11(b)(2)(ii), 11(b)(2)(iii), and 11(b)(2)(iv) are reasonable and necessary for the protection of trade secrets within the meaning § 8-2-113(2)(b) (the "Colorado Noncompete Act"). The Participant acknowledges that they received notice of the covenant not to compete and its terms before the Participant accepted an offer of employment, or, if a current employee at the time the Participant enters into this Agreement, at least fourteen (14) days before the earlier of the effective date of the Agreement or the effective date of any additional compensation or change in the terms or conditions of employment that provides consideration for the covenant not to compete. If a current employee at the time the Participant receives this Agreement, under no circumstances will the obligations in Section 11(b) become effective until fourteen (14) days have passed since the Participant received this Agreement. The Confidential Information restrictions in this Agreement do not prohibit disclosure of information that

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arises from the worker's general training, knowledge, skill, or experience, whether gained on the job or otherwise, information that is readily ascertainable to the public, or information that a worker otherwise has a right to disclose as legally protected conduct. Nothing in this Agreement or Company policy limits or prevents a worker from disclosing information about workplace health and safety practices or hazards. Further, in addition to the other forms of Protected Conduct, nothing in the Agreement shall be construed to prohibit the Participant or any other employee or prospective employee from disclosing or discussing (either orally or in writing) information about unlawful acts in the workplace, such as any alleged discriminatory or unfair employment practice, or any other conduct protected by section 24-34-407, C.R.S., of the Protecting Opportunities and Workers' Rights ("POWR") Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(4)&nbsp;&nbsp;&nbsp;&nbsp;Georgia Addendum.** If a court of competent jurisdiction deems that Georgia law applies, then: (a) the definition of "Confidential Information" will be understood to exclude information voluntarily disclosed to the public by the Company (excluding unauthorized disclosures by the Participant or others), information that is the result of independent development by others, and information that is otherwise available in the public domain through lawful means. Nothing in this Agreement, including the definition of Confidential Information, limits or alters the definition of what constitutes a trade secret under any federal or state law designed to protect trade secrets; and (b) nothing in the non-solicitation obligations in Sections 11(b)(2)(ii), 11(b)(2)(iii), and 11(b)(2)(iv) shall restrict the Participant from accepting business from a Covered Customer, Covered Referral Source, or Key Business Relationship so long as the Participant did not solicit, assist in soliciting, facilitate the solicitation of, provide, or offer to provide services to the Covered Customer, Covered Referral Source, or Key Business Relationship (regardless of who first initiated contact) or use Confidential Information to encourage or induce the Covered Customer, Covered Referral Source, or Key Business Relationship to withdraw, curtail, or cancel its business with the Company or in any other manner modify or fail to enter into any actual or potential business relationship with the Company. The Participant acknowledges the referral source and key business relationship restrictions in Sections 11(b)(2)(iii) and (iv) shall be limited to the Territory.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(5)&nbsp;&nbsp;&nbsp;&nbsp;Idaho Addendum.** If a court of competent jurisdiction deems that Idaho law applies, then the definition of "Non-Compete Restricted Period" shall be modified to include the twelve (12) month period immediately following the date of termination of the Participant's employment with the Company (or any Subsidiary or Affiliate) for any reason.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(6)&nbsp;&nbsp;&nbsp;&nbsp;Illinois Addendum.** If a court of competent jurisdiction deems that Illinois law applies, then: (i) the Participant acknowledges that the equity they receive under this Agreement is mutually agreed upon consideration that is adequate and sufficient to make the covenants in Section 11 immediately binding and enforceable against them; (ii) the non-competition restrictions in Section 11(b)(1) shall not apply if the Participant earns equal to or less than $75,000 annually ("Non-Competition Earnings Threshold") (with the Non-Competition Earnings Threshold increasing by $5,000 every five years from January 1, 2027 through January 1, 2037); (iii) the Covered Customer, Referral Source, Key Business Relationship, and employee non-solicit obligations and employee non-solicit obligations in Section 11(b)(2) shall not apply if

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the Participant earns equal or less than $45,000 annually ("Non-Solicit Earnings Threshold") (with the Non-Solicit Earnings Threshold increasing by $2,500 every five years from January 1, 2027 through January 1, 2037). The Participant further agrees that if, at the time the Participant signs the Agreement, the Participant's earnings do not meet the Non-Competition Earnings Threshold and/or the Non-Solicit Earnings Threshold, then the non-competition provision contained in Section 11(b)(1), will automatically become enforceable against the Participant if and when the Participant begins earning an amount equal to or greater than the Non-Competition Earnings Threshold, and the Customer, Referral Source, Key Business Relationship, and employee non-solicit obligations in Section 11(b)(2) will automatically become enforceable against the Participant if and when the Participant begins earning an amount equal to or greater than the Non-Solicit Earnings Threshold; (iv) the Attorneys' Fees Remedy in the last three sentences of Section 11(f)(1) relating to attorneys' fees shall be replaced with the following language: "In the event that any action is filed to enforce the terms and conditions of Section 11 of this Agreement, the prevailing party in the action will recover from the non-prevailing party, in addition to any other sum that either party may be called upon to pay, a reasonable sum for the prevailing party's attorney's fees and costs. The Company shall be deemed the prevailing party if it is awarded any part of the legal or equitable relief it seeks, irrespective of whether some of the relief it seeks is denied or modified"; and (v) the Participant understands that nothing in the Agreement prohibits reporting or opposing any conduct the Participant reasonably believes to be an unlawful practice actionable under state or federal employment law including those enforced by the Illinois Department of Human Rights, the Illinois Department of Labor, the Illinois Labor Relations Board, the U.S. Department of Labor, the Occupational Safety and Health Administration, or National Labor Relations Board. The Participant also understands that nothing in the Agreement restricts the right to engage in concerted activity to address work-related issues.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(7)&nbsp;&nbsp;&nbsp;&nbsp;Indiana Addendum.** If a court of competent jurisdiction deems that Indiana law applies, then: the definition of "Covered Employee" shall be modified to be further limited to employees who have access to or possess any Confidential Information that would give a competitor an unfair advantage.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(8)&nbsp;&nbsp;&nbsp;&nbsp;Louisiana Addendum.** If a court of competent jurisdiction deems that Louisiana law applies, then: (a) the meaning of the Participant's "Territory" shall be understood to include the parishes (and equivalents) in the following list so long as the Company continues to carry on business therein: Acadia, Allen, Avoyelles, Beauregard, Bienville, Bossier, Caddo, Calcasieu, Cameron, Catahoula, Desoto, Evangeline, Grant, Iberia, Jefferson Davis, Jefferson, Lafayette, LaSalle, Natchitoches, Orleans, Rapides, Red River, St. Charles, St. John the Baptist, St. Landry, St. Martin, St. Tammany, Tangipahoa, Vermillion, Vernon, Washington, Webster; and (b) the Participant's Covered Customer, Covered Referral Source, and Key Business Relationship non-solicit obligations (as well as their non-compete obligations) shall be limited to the parishes and counties (or their equivalents) from the foregoing list that fall within the Participant's Territory. The Participant agrees that the foregoing provides the Participant with adequate notice of the geographic scope of the restrictions contained in the Agreement by name of specific parish or parishes (and equivalents), municipality or municipalities, and/or parts thereof.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(9)&nbsp;&nbsp;&nbsp;&nbsp;Maine Addendum.** If a court of competent jurisdiction deems that Maine law applies, then: (i) the Participant acknowledges that if the Participant is being initially hired by the Company (or its Subsidiary or Affiliate) that the Participant was notified a noncompete agreement would be required prior to their receiving a formal offer of employment from the Company (or its Subsidiary or Affiliate) and the Participant received a copy of the Agreement at least three business days before they were required to sign the Agreement; (ii) Section 11(b)(1) will not take effect (to restrict the Participant post-employment) until one year of employment or a period of six months from the date the agreement is signed, whichever is later; and (iii) Section 11(b)(1) shall not apply if the Participant earns at or below 400% of the federal poverty level.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(10)&nbsp;&nbsp;&nbsp;&nbsp;Massachusetts Addendum.** If a court of competent jurisdiction deems that Massachusetts law applies, then: (i) the Participant acknowledges that the opportunity to receive equity under this Agreement is mutually agreed upon consideration that is adequate and sufficient to make the covenants in Section 11(b)(1) to be immediately binding and enforceable against them; (ii) if the Participant breaches their fiduciary duty to the Company (or any Subsidiary or Affiliate) and/or has unlawfully taken, physically or electronically, any Company records, then the Non-Compete Restricted Period shall be extended to a period of two (2) years from the cessation of the Participant's employment with the Company or any Subsidiary or Affiliate; (iii) the non-compete in Section 11(b)(1) shall only apply post-employment if the Participant's employment ends voluntarily or involuntarily for cause. The Participant understands that for the limited purposes of the application of the non-competition restriction in Section 11(b)(1) of the Agreement, "cause" to terminate the Participant's employment exists if the Participant has: (A) materially breached any obligations under any applicable employment, confidentiality, nonsolicitation, invention assignment, or noncompetition agreement with the Company; (B) been convicted of or entered a plea of guilty or nolo contendere to, or admission to facts sufficient for a finding of guilt for, any crime constituting a felony or any misdemeanor involving fraud, dishonesty and/or moral turpitude; (C) neglected, refused, or failed to discharge their duties (other than due to physical or mental illness) commensurate with their title and function, or their failure to comply with a lawful direction of the Company; (D) breached their duty of loyalty or fiduciary duty to the Company; (E) violated the Company's policy or policies; (F) engaged in unlawful discrimination or harassment; (G) engaged in any other willful misconduct which is materially injurious to the financial condition or business reputation of, or is otherwise materially injurious to, the Company; and/or (H) engaged in any other act that is accepted as cause for termination under the common law of the Commonwealth of Massachusetts. Nothing in this herein shall be construed to eliminate or modify the "at-will" nature of the parties' relationship; (iv) the Participant acknowledges that they have been advised of their right to consult with an attorney about this Agreement and has been given an opportunity to do so; (v) the Participant acknowledges that if they are being initially hired by the Company that they received a copy of this Agreement with their first formal offer of employment from the Company or at least ten (10) business days before commencement of the Participant's employment by the Company, whichever came first; and if the Participant was already employed by the Company at the time of signing this Agreement, that the Participant was provided a copy hereof at least ten (10) business days before the effective date of this Agreement. Under no circumstances will the obligations in Section 11(b)(1) become effective until ten (10) business days have passed since the Participant received this Agreement; (vi) the tolling language in

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Section 11(e)(4) shall only apply to any breach of Section 11(b)(2) (*i.e.*, the tolling language shall not apply to Section 11(b)(1)); and (vii) any dispute relating to or arising out of Section 11 shall be exclusively finally resolved by a state or federal court located in the county where the Participant resides or the business litigation session of the superior court in Suffolk County, Massachusetts and the parties to this Agreement hereby consent to personal jurisdiction therein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(11)&nbsp;&nbsp;&nbsp;&nbsp;Minnesota Addendum.** Notwithstanding anything in the Agreement or the Addendum to the contrary, while the Participant resides or is primarily assigned to work in Minnesota during their employment by the Company or any of its Subsidiaries or Affiliates, then for so long as the Participant resides or is primarily assigned to work in Minnesota: The Governing Law clause in Section 12 shall not be applied to deprive the Participant of the protections or benefits of Minnesota law, and nothing in this Agreement shall require the Participant to litigate a claim relating to Section 11 outside of Minnesota. In addition, the non-compete in Section 11(b)(1) shall not apply after the Participant's employment with the Company (or its Subsidiary or Affiliate) ends.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(12)&nbsp;&nbsp;&nbsp;&nbsp;Missouri Addendum.** If a court of competent jurisdiction deems that Missouri law applies, then: the definition of "Covered Employee" will be modified to exclude from its definition any employee who provides only secretarial or clerical services.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(13)&nbsp;&nbsp;&nbsp;&nbsp;Nebraska Addendum.** If a court of competent jurisdiction deems that Nebraska law applies, then: (a) the definitions of "Covered Customer," "Covered Referral Source," and "Key Business Relationship" shall be further limited to those Covered Customers, Covered Referral Sources, and Key Business Relationships with which the Participant, alone or in combination with others, handled, serviced, or solicited at any time during the Look Back Period; and (b) the non-compete in Section 11(b)(1) shall not apply after the Participant's employment with the Company (or its Subsidiary or Affiliate) ends.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(14)&nbsp;&nbsp;&nbsp;&nbsp;Nevada Addendum.** If a court of competent jurisdiction deems that Nevada law applies, then: (i) the Participant acknowledges that the equity they receive under this Agreement is mutually agreed upon consideration that is valuable and sufficient to make the covenants in Section 11(b)(1) to be immediately binding and enforceable against them; (ii) nothing in Section 11(b) precludes the Participant from providing services to any former customer, resident, patient, referral source, investor, equity or financing source, or consultant of the Company if: (A) the Participant did not solicit the former customer, resident, patient, referral source, investor, equity or financing source, or consultant; (B) the customer, resident, patient, referral source, investor, equity or financing source, or consultant voluntarily chose to leave and seek services from the Participant; and (C) the Participant is otherwise complying with the limitations in Section 11 of this Agreement as to time, geographical area, and scope of activity to be restrained; and (iii) if the Participant's employment with the Company (or its Subsidiary or Affiliate) is terminated as a result of a reduction in force, reorganization, or similar restructuring of the Company (or its Subsidiary or Affiliate), the noncompetition covenant in Section 11(b)(1) will only be enforceable during the period in which the Company is paying the Participant's salary, benefits, or equivalent compensation, including without limitation, severance pay, if it elects to make such a payment.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(15)&nbsp;&nbsp;&nbsp;&nbsp;New Hampshire Addendum.** If a court of competent jurisdiction deems that New Hampshire law applies, then the Participant acknowledges that the Participant was given a copy of this Agreement prior to an offer of employment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(16)&nbsp;&nbsp;&nbsp;&nbsp;New York Addendum.** If a court of competent jurisdiction deems that New York law applies, then: the definitions of "Covered Customer," "Covered Referral Source," and "Key Business Relationship" shall be modified to exclude from its definition any customers, residents, patients, referral sources, investors, equity or financing sources, or consultants of the Company or any Subsidiary or Affiliate which entered into a business relationship with the Company (or its Subsidiary or Affiliate) as a result of the Participant's independent contact and business development efforts with the customer prior to and independent from the Participant's employment with the Company (or its Subsidiary or Affiliate). However, the Participant agrees that after a period of two years from the start of their employment with the Company (or its Subsidiary or Affiliate), the Company (or its Subsidiary or Affiliate) will have invested sufficient time, financial support and effort in developing and serving any such customers, residents, patients, referral sources, investors, equity or financing sources, or consultants, to support the application of the non-solicit obligations. Accordingly, two years following the start of the Participant's employment with the Company (or its Subsidiary or Affiliate), this modification shall not apply.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(17)&nbsp;&nbsp;&nbsp;&nbsp;North Carolina Addendum.** If a court of competent jurisdiction deems that North Carolina law applies, then: the Look Back Period shall be calculated looking back one year from the date the employment ends or two years from the date of enforcement and not from the date employment ends, whichever provides the Company the greatest protection and is enforceable under applicable law. Further, the Participant understands the non-solicitation obligations in Section 11(b)(2) of the Addendum shall be limited to the Territory.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(18)&nbsp;&nbsp;&nbsp;&nbsp;Oklahoma Addendum.** If a court of competent jurisdiction deems that Oklahoma law applies, then: (i) the non-competition restrictions in Section 11(b)(1) shall not apply after the Participant's employment with the Company (or its Subsidiary or Affiliate) ends; and (ii) the Covered Customer, Covered Referral Source, and Key Business Relationship non-solicit obligations shall all be amended to provide that notwithstanding anything in them to the contrary, the Participant shall be permitted to engage in the same business as that conducted by the Company or in a similar business as long as the Participant does not directly solicit the sale of goods, services or a combination of goods and services from the established customers, residents or patients of the Company or its Subsidiary or Affiliate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(19)&nbsp;&nbsp;&nbsp;&nbsp;Oregon Addendum.** If a court of competent jurisdiction deems that Oregon law applies, then: (i) unless the Company chooses to compensate the Participant as allowed under the Oregon Noncompete Act (Or. Rev. Stat. § 653 et seq.), the restrictions in Section 11(b)(1) shall only apply to the Participant if: (A) they are engaged in administrative, executive or professional work and perform predominantly intellectual, managerial, or creative tasks, exercise discretion and independent judgment and earn a salary and am paid on a salary basis; (B) the Company has a "protectable interest" (meaning, access to trade secrets or

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competitively sensitive confidential business or professional information that otherwise would not qualify as a trade secret, including product development plans, product launch plans, marketing strategy or sales plans); and (C) the total amount of the Participant's annual gross salary and commission, calculated on an annual basis, at the time of my termination, exceeds $116,427 (or the earnings threshold in effect based on annual adjustment for inflation pursuant to the Consumer Price Index for All Urban Consumers, West Region (All Items), as published by the Bureau of Labor Statistics of the United States Department of Labor immediately preceding the calendar year of the Participant's termination). (ii) In addition, if the Participant is a new employee, the Participant acknowledges that they were notified in a written offer of employment received two weeks before the commencement of employment that a noncompetition agreement was a condition of employment. (iii) In addition, nothing in this Agreement prevents the Participant from disclosing or discussing conduct (a) that constitutes discrimination prohibited by ORS 659A.030 (Discrimination because of race, color, religion, sex, sexual orientation, gender identity, national origin, marital status, age or expunged juvenile record prohibited), including conduct that constitutes sexual assault, or by ORS 659A.082 (Discrimination against person for service in uniformed service prohibited) or 659A.112 (Employment discrimination), and (b) that occurred between employees or between an employer and an employee in the workplace or at a work-related event that is off the employment premises and coordinated by or through the employer, or between an employer and an employee off the employment premises.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(20)&nbsp;&nbsp;&nbsp;&nbsp;South Carolina Addendum.** If a court of competent jurisdiction deems that South Carolina law applies, then: the Participant understands the non-solicitation obligations in Section 11(b)(2) of the Addendum shall be limited to the Territory.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(21)&nbsp;&nbsp;&nbsp;&nbsp;South Dakota Addendum.** If a court of competent jurisdiction deems that South Dakota law applies, then: the Participant understands nothing in the covered customer, covered referral source or key business relationship non-solicitation obligations in Sections 11(b)(2)(ii), 11(b)(2)(iii), and 11(b)(2)(iv) shall restrict the Participant from accepting business from a Covered Customer, Covered Referral Source or Key Business Relationship so long as the Participant did not solicit, assist in soliciting, facilitate the solicitation of, provide, or offer to provide services to the Covered Customer, Covered Referral Source, or Key Business Relationship (regardless of who first initiated contact) or use Confidential Information to encourage or induce the Covered Customer, Covered Referral Source, or Key Business Relationship to withdraw, curtail, or cancel its business with the Company or in any other manner modify or fail to enter into any actual or potential business relationship with the Company. To the extent necessary and required for enforcement, the restricted area covered by the non-solicitation obligations in Sections 11(b)(2)(ii), (iii), and (iv) shall be understood to include the South Dakota counties of Aurora, Beadle, Bennett, Bon Homme, Brookings, Brown, Brule, Buffalo, Butte, Campbell, Charles Mix, Clark, Clay, Codington, Corson, Custer, Davison, Day, Deuel, Dewey, Douglas, Edmunds, Fall River, Faulk, Grant, Gregory, Haakon, Hamlin, Hand, Hanson, Harding, Hughes, Hutchinson, Hyde, Jackson, Jerauld, Jones, Kingsbury, Lake, Lawrence, Lincoln, Lyman, Marshall, McCook, McPherson, Meade, Mellette, Miner, Minnehaha, Moody, Pennington, Perkins, Potter, Roberts, Sanborn, Oglala Lakota, Spink, Stanley, Sully, Todd, Tripp, Turner, Union, Walworth, Yankton, Ziebach, so long as the Company does business therein.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(22)&nbsp;&nbsp;&nbsp;&nbsp;Virginia Addendum.** If a court of competent jurisdiction deems that Virginia law applies, then: (i) the parties agree that the non-competition and non-solicitation obligations are reasonably limited in nature and do not prohibit employment with a competing business in a non-competitive position; (ii) if the Participant resides in Virginia and their average weekly earnings calculated as provided for under Code of Virginia § 40.1-28.7:8 (the "Virginia Act"), are less than the average weekly wage of the Commonwealth as determined pursuant to subsection B of § 65.2-500, the Participant is employed in a non-exempt position, or the Participant otherwise qualifies as a "low-wage employee" under the Virginia Act then the non-competition obligations in Section 11(b)(1) shall not apply to the Participant; and (iii) nothing that constitutes a "covenant not to compete" as defined by the Virginia Act shall restrict the Participant from providing a service to a Covered Customer, Covered Referral Source, or Key Business Relationship if the Participant does not initiate contact with or solicit the Covered Customer, Covered Referral Source, or Key Business Relationship.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(23)&nbsp;&nbsp;&nbsp;&nbsp;Washington Addendum.** Notwithstanding anything in the Agreement or the Addendum to the contrary, while the Participant resides or is primarily assigned to work in Washington during their employment by the Company or any of its Subsidiaries or Affiliates, then for so long as the Participant resides or is primarily assigned to work in Washington:

The Governing Law clause in Section 12 shall not be applied to deprive the Participant of the protections or benefits of the Washington Noncompete Act (Rev. Code of Wash. (RCW) §§ 49.62.005 - 900) (the "Washington Act") and nothing in this Agreement shall require the Participant to litigate a claim relating to this Section 11 outside of Washington. The definition of the "Non-Solicit Restricted Period" is modified to include a period of eighteen (18) months immediately following the date of the Participant's termination from the Company (or its Subsidiary or Affiliate). Unless or until the Participant's earnings from the Company (or its Subsidiary or Affiliate) over the prior year (or the portion thereof for which the Participant was employed), when annualized, exceed the equivalent of $126,859 per year or the then inflation-adjusted equivalent in accordance with the requirements of the Washington Act: (i) Section 11(b)(2)(i) of this Addendum is modified to only prohibit solicitation by the Participant of any Covered Employee of the Company to leave employment with the Company; (ii) Section 11(b)(2)(ii) of this Addendum is modified to only prohibit solicitation by the Participant of any Covered Customer to cease or reduce the extent to which it is doing business with the Company; in accordance with the definition of an enforceable "Nonsolicitation Agreement" under the Washington Act; and (iii) the non-competition covenant in Section 11(b)(1), the Covered Referral Source non-solicit in Section 11(b)(2)(iii), and the Key Business Relationship non-solicit in Section 11(b)(2)(iv) will not be or become enforceable against the Participant. "Covered Customer" means a current customer (including a resident or patient) of the Company or any Subsidiary or Affiliate or any of their successors or assigns that the Participant had material contact with during the Look Back Period and that/who is engaged in business with the Company or its Subsidiary or Affiliate at the time of solicitation. Material contact will be presumed present if in Look Back Period the Participant (or persons under the Participant's supervision) had contact

------

with the customer, resident, or patient, or the Participant was provided Confidential Information about the customer, resident, or patient, or the Participant received commissions or other beneficial credit for business conducted with the customer, resident, or patient. Nothing in this Agreement shall restrict the Participant from having an additional job, supplementing their income by working for another employer, working as an independent contractor, or being self-employed if the Participant does not earn at least twice the Washington minimum hourly wage, though the Participant will still be subject to the common law duty of loyalty. Further, in addition to the other forms of Protected Conduct, nothing in the Agreement prohibits disclosure or discussion of conduct the Participant reasonably believes to be illegal discrimination, illegal harassment, illegal retaliation, a wage and hour violation, or sexual assault, or that is recognized as against a clear mandate of public policy. The Participant further acknowledges that they had advance notice of the terms of this Agreement (including the Addendum) prior to accepting the Company's (or any of its Subsidiaries' or Affiliates') verbal or written offer of employment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(24)&nbsp;&nbsp;&nbsp;&nbsp;Wisconsin Addendum.** If a court of competent jurisdiction deems that Wisconsin law applies, then: (i) the tolling language in Section 11(e)(4) shall not apply; (ii) the definition of "Covered Employee" shall be modified to be further limited to those employees who are either entrusted with Confidential Information or employed in a position essential to the management, organization, or service of the business (such as, but not limited to maintaining the Company's or its Subsidiary's or Affiliate's customer and other key relationships); and (iii) the Participant understands that the obligations in Sections 11(b)(2)(i), 11(b)(2)(iii), and 11(b)(2)(iv) of the Addendum are limited to the Territory.

## Exhibit 31.1

**<u>EXHIBIT 31.1</u>**

**CERTIFICATION**

**PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002**

I, Nikolas W. Stengle, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q of Brookdale Senior Living Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

---

| | | |
|:---|:---|:---|
| Date: | May 7, 2026 | /s/ Nikolas W. Stengle |
| | | Nikolas W. Stengle |
| | | Chief Executive Officer |

---

## Exhibit 31.2

**<u>EXHIBIT 31.2</u>**

**CERTIFICATION**

**PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002**

I, Dawn L. Kussow, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q of Brookdale Senior Living Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

---

| | | |
|:---|:---|:---|
| Date: | May 7, 2026 | /s/ Dawn L. Kussow |
| | | Dawn L. Kussow |
| | | Executive Vice President and Chief Financial Officer |

---

## Ex-32

**<u>EXHIBIT 32</u>** 

**CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350, AS ADOPTED** 

**PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002** 

In connection with the Quarterly Report on Form 10-Q of Brookdale Senior Living Inc. (the "Company") for the period ended March 31, 2026, as filed with the Securities and Exchange Commission on the date hereof (the "Report"), Nikolas W. Stengle, as Chief Executive Officer, and Dawn L. Kussow, as Executive Vice President and Chief Financial Officer of the Company, each hereby certifies, pursuant to 18 U.S.C. § 1350, as adopted pursuant to § 906 of the Sarbanes-Oxley Act of 2002, that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

<u>/s/ Nikolas W. Stengle</u> 

Name: Nikolas W. Stengle

Title: Chief Executive Officer

Date: May 7, 2026

<u>/s/ Dawn L. Kussow</u> 

Name: Dawn L. Kussow

Title: Executive Vice President and Chief Financial Officer

Date: May 7, 2026

<br>