Document:

NOTICE OF INCREMENTAL FACILITY COMMITMENT

 Exhibit 10.2 
  
 NOTICE OF INCREMENTAL FACILITY COMMITMENT 
  
 THIS NOTICE OF INCREMENTAL FACILITY COMMITMENT is made as of May 26, 2005 (the “Closing Date”) by and among
AMERICAN TOWER, L.P., a Delaware limited partnership (“AT LP”), AMERICAN TOWERS, INC., a Delaware corporation (“AT Inc.”), AMERICAN TOWER, LLC, a Delaware limited liability company (“AT
LLC”) and AMERICAN TOWER INTERNATIONAL, INC., a Delaware corporation (collectively, with AT LP, AT Inc. and AT LLC, the “Borrowers”), in connection with that Loan Agreement dated as of May 24, 2004 (as amended,
modified, restated and supplemented from time to time, the “Loan Agreement”) by and among the Borrowers, the Lenders signatory thereto, the Issuing Bank (as defined therein) and TORONTO DOMINION (TEXAS) LLC, as administrative
agent (the “Administrative Agent”), and the financial institutions signatory hereto (the “Term Loan C Lenders” and collectively, together with the Lenders signatory to the Loan Agreement and any other financial
institutions which hereafter become ‘Lenders’ under the Loan Agreement, the “Lenders”): 
  
 1. The Borrowers have obtained an agreement to provide a term loan (the “Term Loan C Loan”) pursuant to an Incremental Facility
Commitment (“Term Loan C Loan Commitment”) in the aggregate amount of THREE HUNDRED NINETY-SEVEN MILLION AND 00/100ths DOLLARS ($397,000,000.00) from the Term Loan C Lenders in such amounts as set forth in Schedule
1 attached hereto. The Applicable Margins for Incremental Facility Advances under the Term Loan C Loan Commitment and the terms for repayment of the Term Loan C Loan are set forth on Schedule 2 attached hereto.  
  
 2. The Borrowers hereby certify that all of the representations and
warranties of the Borrowers under the Loan Agreement and the other Loan Documents (including, without limitation, all representations and warranties with respect to the Restricted Subsidiaries) are on the date hereof, and will be as of the effective
date of such Term Loan C Loan Commitment, true and correct in all material respects, both before and after giving effect to the Term Loan C Loan, and after giving effect to any updates to information provided to the Lenders in accordance with the
terms of such representations and warranties. 
  
 3. The Borrowers
hereby certify that there does not exist, on this date, and there will not exist after giving effect to the Term Loan C Loan, any Default or Event of Default under the Loan Agreement. 
  
 4. In addition, with respect to the Term Loan C Lenders and any other holders of Term Loan C Loans (including any successors
and assigns of the Term Loan C Lenders pursuant to the Loan Agreement), Sections 1.1, 2.15(a), 5.10(b), 6.1, 6.2, 6.3, 7.4(a), 7.6(b), 7.6(c), 7.7, 7.15 and 8.1(n) of the Loan Agreement shall not be as set forth in the Loan Agreement (unless and
until Lenders comprising the Majority Lenders approve the following modifications) but shall be as follows: 

 A. The following definition is added to Section 1.1: 
  
 “‘7.125% Senior Notes Due 2012’ shall
mean the $500,000,000 original principal amount of 7.125% senior notes due 2012 and issued pursuant to the indenture dated October 5, 2004, as supplemented.” 
  
 B. The definition of “Cash on Hand (Borrowers)” in Section 1.1 reads as follows: 
  
 “‘Cash on Hand (Borrowers)’ shall mean
$233,000,000.” 
  
 C. Section 2.15(a). 
  
 “(a) Subject to the terms and conditions of this
Agreement, the Borrowers may request an Incremental Facility Commitment (which may be in the form of a revolver (to the extent such Incremental Facility Commitment is a Refinancing Incremental Facility (as defined below) of the Revolving Loan
Commitment) or a term loan) on any Business Day; provided, however, that (i) the Borrowers may not request any Incremental Facility Commitment or an Incremental Facility Advance after the occurrence and during the continuance of a
Default or an Event of Default, including, without limitation, any Default or Event of Default that would result after giving effect to any Incremental Facility Advance, (ii) the aggregate amount of Incremental Facilities, the proceeds of which do
not refinance the Loans (a “Non-Refinancing Incremental Facility”), shall not exceed $500,000,000.00 and (iii) the aggregate amount of Incremental Facilities the entire net proceeds of which are used to refinance all or any portion
of the Loans or the Revolving Loan Commitment (which Revolving Loan Commitment shall be reduced by the corresponding amount of such net proceeds or canceled if the entire Revolving Loan Commitment is being refinanced) shall be unlimited (a
“Refinancing Incremental Facility”), provided that the amount of any Refinancing Incremental Facility shall be limited to the principal amount, accrued interest, fees and premiums payable with respect to the Loans or
Revolving Loan Commitment being refinanced and any costs and expenses incurred to effect any such refinancing. Any repayment of the Term Loan A Loans or Term Loan B Loans, as applicable, from the proceeds of an Incremental Facility shall be applied
pro rata across the remaining scheduled repayments set forth in Sections 2.7(b)(i) and 2.7(b)(ii) hereof, and any repayment of the Revolving Loans, if applicable, shall reduce the Revolving Loan Commitments in an amount equal to such repayment. No
Incremental Facility Maturity Date (x) for a Non-Refinancing Incremental Facility shall be earlier than six (6) months after the Term Loan B Maturity Date (without giving effect to the proviso set forth in such definition) and (y) for a Refinancing
Incremental Facility shall be earlier than the Maturity Date for the Loans being refinanced with the proceeds of such Refinancing Incremental Facility. The decision of 

  

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any Lender to provide an Incremental Facility Commitment to the Borrowers shall be at such Lender’s sole discretion and shall be made in writing. The
Incremental Facility Commitment of a Lender providing an Incremental Facility Commitment shall be evidenced by an Incremental Facility Note. Persons not then Lenders may be included as Lenders holding a portion of such Incremental Facility
Commitment with the written approval of the Borrowers and the Administrative Agent (such approval not to be unreasonably withheld, delayed, or conditioned). The Incremental Facility Commitments shall be governed by this Agreement and the other Loan
Documents and be on terms and conditions no more restrictive than those set forth herein and therein. The terms and conditions in this Section 2.15 may be amended with the consent of the Majority Lenders and the Borrowers, except to the extent that
a specific Lender’s consent is otherwise required with respect to an issuance by such Lender of any Incremental Facility Commitment.” 
  
 D. Section 5.10(b). 
  
 “(b) with respect to all proceeds: 
  
 (i) to refinance or repurchase Indebtedness for Money Borrowed of the Borrowers and, to the extent permitted under Section 7.7 hereof, the
Parent; 
  
 (ii) to fund Acquisitions and
Investments (including, without limitation, investments in Unrestricted Subsidiaries) permitted under Section 7.6 hereof; 
  
 (iii) to make Restricted Payments to the extent permitted under Section 7.7 hereof; 
  
 (iv) to fund Capital Expenditures; 
  
 (v) for working capital needs and other general corporate
purposes of the Borrowers and the Restricted Subsidiaries; and 
  
 (vi) fees and expenses incurred in connection with the execution and delivery of this Agreement, and other costs associated with transactions contemplated by this Agreement.” 
  
 E. Section 6.1. 
  
 “Section 6.1 Quarterly Financial Statements and
Information. Within forty-five (45) days after the last day of each of the first three (3) quarters of each fiscal year of the Borrowers, the balance sheet of the Borrowers on a consolidated basis with the Restricted Subsidiaries as at the end
of such quarter and as of the end of the preceding fiscal year, and the related statement of operations and the related statement of cash flows of the Borrowers on a consolidated basis with the 

  

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Restricted Subsidiaries for such quarter and for the elapsed portion of the year ended with the last day of such quarter, which shall set forth in
comparative form such figures as at the end of and for such quarter and appropriate prior period and shall be certified by the chief financial officer of AT Inc. to have been prepared in accordance with GAAP and to present fairly in all material
respects the financial position of the Borrowers on a consolidated basis with the Restricted Subsidiaries as at the end of such period and the results of operations for such period, and for the elapsed portion of the year ended with the last day of
such period, subject only to normal year-end and audit adjustments. If the aggregate operating revenue of the Unrestricted Subsidiaries at the end of a fiscal quarter is equal to or greater than twenty percent (20%) of the aggregate operating
revenue of the Borrowers and their Restricted Subsidiaries at the end of such quarter, the Borrowers shall provide, in addition to the foregoing financial statements and information, the balance sheet of the Borrowers on a consolidating basis with
the Unrestricted Subsidiaries as at the end of such quarter and as of the end of the preceding fiscal year, and the related statement of operations and the related statement of cash flows of the Borrowers on a consolidating basis with the
Unrestricted Subsidiaries for such quarter and for the elapsed portion of the year ended with the last day of such quarter, which shall set forth in comparative form such figures as at the end of and for such quarter and appropriate prior period and
shall be certified by the chief financial officer of AT Inc. to have been prepared in accordance with GAAP and to present fairly in all material respects the financial position of the Borrowers on a consolidating basis with the Unrestricted
Subsidiaries as at the end of such period and the results of operations for such period, and for the elapsed portion of the year ended with the last day of such period, subject only to normal year-end and audit adjustments.” 
  
 F. Section 6.2. 
  
 “Section 6.2 Annual Financial Statements and
Information. Within ninety (90) days after the end of each fiscal year of the Borrowers, the audited consolidated balance sheet of the Borrowers and the Restricted Subsidiaries as of the end of such fiscal year and the related audited
consolidated statement of operations for such fiscal year and for the previous fiscal year, the related audited consolidated statements of cash flow and stockholders’ equity for such fiscal year and for the previous fiscal year, which shall be
accompanied by an opinion of Deloitte & Touche, LLP, or other independent certified public accountants of recognized national standing reasonably acceptable to the Administrative Agent, together with a statement of such accountants (unless the
giving of such statement is contrary to accounting practice for the continuing independence of such accountant) that in connection with their audit, nothing came to their attention that caused them to believe that the Borrowers were not in
compliance with the terms, covenants, provisions or conditions of Sections 7.8, 7.9, 7.10 and 7.11 hereof insofar as they relate to accounting matters. If the aggregate operating revenue of the Unrestricted Subsidiaries at the end of a fiscal year
is equal to or greater than twenty percent (20%) of the aggregate operating revenue of the Borrowers and their Restricted Subsidiaries at the end of such fiscal year, the Borrowers shall 

  

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provide, in addition to the foregoing financial statements and information, the consolidating balance sheet of the Borrowers and the Unrestricted
Subsidiaries as of the end of such fiscal year and the related unaudited consolidating statements of operations and cash flows for such fiscal year and for the previous fiscal year.” 
  
 G. Section 6.3. 
  
 “; and (e) setting forth as and at the end of such quarterly period or fiscal year, as the case may be, the Consolidated Leverage
Ratio for such period, together with the arithmetical calculations required to establish the Consolidated Leverage Ratio.” 
  
 H. Section 7.4(a). 
  
 “(a) Disposition of Assets. The Borrowers shall not, and shall not permit any of the Restricted Subsidiaries to, at any time
sell, lease, abandon, or otherwise dispose of any assets (other than assets disposed of in the ordinary course of business) without the prior written consent of the Majority Lenders; provided, however, that the prior written consent of
the Lenders shall not be required for (i) the transfer of assets (including cash or cash equivalents) among the Borrowers and the Restricted Subsidiaries (excluding Subsidiaries of such Persons described in clause (b) of the definition of
“Subsidiary”) or the transfer of assets (including cash or cash equivalents) between or among Restricted Subsidiaries (excluding Subsidiaries of such Persons described in clause (b) of the definition of “Subsidiary”) or (ii) the
disposition of assets (A) in any quarter that contribute, in the aggregate, together with all other assets disposed of during such quarter less than fifteen percent (15%) of Annualized Operating Cash Flow of the Borrowers and the Restricted
Subsidiaries as of the calendar quarter end immediately preceding such disposition and (B) after April 1, 2004, that contribute, in the aggregate, together with all other assets disposed of since April 1, 2004, Operating Cash Flow (Towers) and
Operating Cash Flow (Other Business) of the Borrowers and the Restricted Subsidiaries for the period from April 1, 2004 through the end of the calendar quarter immediately preceding such disposition, less than twenty-five percent (25%) of the total
Operating Cash Flow (Towers) and Operating Cash Flow (Other Business) of the Borrowers and the Restricted Subsidiaries for the period from April 1, 2004 through the end of the calendar quarter immediately preceding such disposition; provided,
further, however, that, in each case under clause (ii) hereof, no Default or Event of Default exists and none shall be caused to occur as a result thereof. Upon any sale or disposition of a Restricted Subsidiary permitted hereunder,
the Administrative Agent and the Lenders shall, at the Borrowers’ expense, take such actions as the Borrowers reasonably request to cause such Restricted Subsidiary to be released from its obligations under the Loan Documents to which it is a
party.” 
  

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 I. Section 7.6(b). 
  
 “(b) so long as no Default then exists or would be caused thereby, establish Unrestricted Subsidiaries
and make Investments in (i) such Unrestricted Subsidiaries (in addition to Investments permitted under Sections 7.6(d) and (f) hereof), and (ii) Persons (other than any Verestar Entity) primarily engaged in domestic and foreign communications tower,
tower management and related businesses (but not primarily Teleport Businesses), directly or indirectly; provided that except (x) to the extent such Investments are made with cash proceeds from the issuance of Capital Stock of the Parent, or
(y) if, after giving effect to such Investment, the Consolidated Leverage Ratio would be less than or equal to 6.50 to 1.00, the aggregate Net Investment Amount (after giving effect to such additional Investment) made pursuant to the provisions of
this Section 7.6(b) shall not exceed, from and after the Agreement Date, the sum of (A) the aggregate amount of Excess Cash Flow for each of the preceding fiscal quarters (commencing with the fiscal quarter ending March 31, 2004), (B) Cash on Hand
(Borrowers), (C) cash contributed as equity to any Borrower by the Parent following the Agreement Date, (D) the amount of any income tax refunds received by any Borrower or any Restricted Subsidiary after the Agreement Date, and (E) an amount equal
to the sum of all amounts available to be borrowed as Revolving Loans on such date, and all amounts available to be borrowed for such purpose as Incremental Facility Loans on such date, less any portion of such Excess Cash Flow, Cash on Hand
(Borrowers), cash contributions and income tax refunds used in accordance with Section 7.7(a) and Section 7.15 hereof; provided further that, in the case of Investments made pursuant to clause (ii) of this Section 7.6(b), the Parent, any
Borrower or any of the Restricted Subsidiaries has executed a binding acquisition, merger, lease/sublease or management agreement with such Person and that notwithstanding the foregoing Unrestricted Subsidiaries may make Investments and Acquisitions
otherwise prohibited under this Section 7.6 hereof (provided, however, that Unrestricted Subsidiaries shall, from and after the Agreement Date, make Investments only (1) in Persons primarily engaged in domestic and foreign
communications tower, tower management and related businesses (but not primarily Teleport Businesses) and (2) as permitted pursuant to Section 7.6(a) hereof);” 
  
 J. Section 7.6(c). 
  
 “(c) so long as no Default then exists or would be caused thereby, and subject to compliance with Section 5.13 hereof, make
Acquisitions; provided, however, that (x) any Acquisition of any Person that is not a Restricted Subsidiary by any Borrower or any of the Restricted Subsidiaries, which Person shall then become consolidated with any Borrower or any of
the Restricted Subsidiaries in accordance with GAAP, shall be of a Person primarily engaged in the tower, tower 

  

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management or related businesses and not primarily engaged in the Teleport Businesses and (y) any Acquisition by any Borrower or any of the Restricted
Subsidiaries of all or any substantial part of the assets of any Person that is not a Restricted Subsidiary shall be from a Person primarily engaged in the tower, tower management or related businesses and not primarily engaged in the Teleport
Businesses;” 
  
 K. Section 7.7. 
  
 “Section 7.7 Restricted Payments. The Borrowers
shall not, and shall not permit any of the Restricted Subsidiaries to, directly or indirectly declare or make any Restricted Payment; provided, however, that so long as no Default or Event of Default hereunder then exists or would be
caused thereby, the Borrowers may make, (a) cash distributions to the Parent in an aggregate amount for all Borrowers not to exceed the sum of (i) the aggregate amount of Excess Cash Flow for each of the preceding fiscal quarters (commencing with
the fiscal quarter ending March 31, 2004), (ii) Cash on Hand (Borrowers), (iii) cash contributed as equity to any Borrower by the Parent following the Agreement Date, and (iv) the amount of any income tax refunds received by any Borrower or any
Restricted Subsidiary after the Agreement Date, less any portion of such Excess Cash Flow, Cash on Hand (Borrowers), cash contributions and income tax refunds used in accordance with Section 7.6(b) and Section 7.15 hereof; (b) distributions to the
Parent to make scheduled principal and interest payments on the Convertible Notes, the Senior Notes Due 2009, the Senior Notes Due 2012 and the 7.125% Senior Notes Due 2012 and any refinancings thereof that would not cause a Default under Section
8.1(n) hereof; (c) distributions to the Parent to make scheduled principal and interest payments on the Indebtedness permitted under Sections 8.1(n)(vii), (viii), (ix) and (x) hereof; (d) distributions to the Parent (including distributions from
proceeds of the Loans) to prepay, redeem, otherwise retire or repurchase (including payment of premiums and accrued interest associated therewith) all or any portion of Indebtedness for Money Borrowed of the Parent outstanding on the Agreement Date
(excluding any Indebtedness for Money Borrowed of the Parent relating exclusively to any Verestar Entity); (e) distributions to the Parent on any date in an amount not to exceed the sum of all amounts available to be borrowed as Revolving Loans on
such date, and all amounts available to be borrowed for such purpose as Incremental Facility Loans on such date for the purpose of (i) repurchasing at the then prevailing market price the Capital Stock of the Parent or (ii) for paying dividends on
the Capital Stock of the Parent; and (f) notwithstanding anything to the contrary herein (but subject to there not being any Default or Event of Default at the time of such Restricted Payment and after giving pro forma effect thereto), any
Restricted Payment so long as, after giving pro forma effect to such Restricted Payment, the Consolidated Leverage Ratio would be less than or equal to 6.50 to 1.00.” 
  

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 L. Section 7.15. 
  
 “Section 7.15 Prepayments on Subordinated Debt. The Borrowers shall not nor shall they permit
any Restricted Subsidiary to make (a) any prepayment of principal or interest on any Indebtedness which by its terms is subordinated to the Obligations or (b) any payment of principal or interest on the 2003 Senior Subordinated Discount Notes or the
November 2003 Senior Subordinated Notes that is in violation of the subordination provisions with respect thereto, except, in the case of clauses (a) and (b), (x) in connection with a refinancing thereof permitted under this Agreement or (y) so long
as no Default or Event of Default hereunder then exists or would be caused thereby.” 
  
 M. Section 8.1(n). 
  
 “(n) the Parent shall incur or permit to remain outstanding any Indebtedness for Money Borrowed other than (i) the Convertible Notes, (ii) the Senior Notes Due 2009, (iii) the Senior Notes Due 2012 and the 7.125%
Senior Notes Due 2012, (iv) that certain Guaranty Agreement dated as of February 10, 2000 made by the Parent in favor of TV Azteca and Television Azteca, S.A. de C.V., a sociedad anonima de capital variable organized under the laws of Mexico, (v)
that certain guaranty made by the Parent of the Indebtedness under the 2003 Senior Subordinated Discount Notes and the November 2003 Senior Subordinated Notes and any permitted refinancings thereof, (vi) any guaranty by the Parent of the
Obligations, (vii) Indebtedness, the net cash proceeds of which are used to refinance or repurchase all or any portion of the 2003 Senior Subordinated Discount Notes or the November 2003 Senior Subordinated Notes or any refinancings thereof, so long
as such Indebtedness is in a principal amount not exceeding the accreted value or principal amount of the Indebtedness being refinanced or the then-current market value of the Indebtedness being repurchased, as applicable (plus any accrued interest
thereon, the amount of any premiums required by the terms thereof and any costs and expenses incurred to effect such refinancing or repurchase or any permitted refinancing thereof) and the maturity date of such refinancing Indebtedness is no earlier
than the maturity date of the Indebtedness being refinanced; provided, however, that any Restricted Payments necessary to make payments on such Indebtedness shall be subject to Section 7.7 hereof, (viii) (A) additional unsecured
Indebtedness; provided that the net cash proceeds thereof are promptly used to refinance or repurchase all or any portion of any Indebtedness of the Parent or the Loans (including any premiums and accrued interest required to be paid for such
Indebtedness being refinanced or repurchased and any costs and expenses incurred to effect such refinancing or repurchase), and (B) any refinancing or repurchase of the foregoing, the net cash proceeds of which do not exceed the outstanding
principal amount of the Indebtedness being refinanced or the then current 

  

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market value of the Indebtedness being repurchased, as applicable, on the date of such refinancing or repurchase, plus accrued interest thereon, premiums
payable with respect thereto and any costs and expenses incurred in connection with such refinancing or repurchase, and the maturity date of such refinancing Indebtedness is no earlier than the maturity date of the Indebtedness being refinanced,
(ix) (A) additional unsecured Indebtedness the net cash proceeds of which are, within ninety (90) days thereafter, downstreamed to a Borrower as equity and used for the payment of all or a portion of the purchase price of Acquisitions by any
Borrower or any Restricted Subsidiary permitted hereunder or Investments in or Acquisitions by any Unrestricted Subsidiary; provided that no such Indebtedness in this Section 8.1(n)(ix) shall be permitted if, after giving pro forma effect to
the incurrence of such Indebtedness and Operating Cash Flow associated with such Acquisition, the Consolidated Leverage Ratio would be greater than 7.50 to 1.00, and (B) any refinancing or repurchase of the foregoing, the net cash proceeds of which
do not exceed the outstanding principal amount of the Indebtedness being refinanced or the then current market value of the Indebtedness being repurchased, as applicable, on the date of such refinancing or repurchase, plus accrued interest thereon,
premiums payable with respect thereto and any costs and expenses incurred in connection with such refinancing or repurchase, and the maturity date of such refinancing Indebtedness is no earlier than the maturity date of the Indebtedness being
refinanced, and (x) (A) additional unsecured Indebtedness, the net cash proceeds of which are used for any corporate purposes of the Parent or the Borrowers, including, without limitation, for (1) the repurchase of shares of the Capital Stock of the
Parent at the then prevailing market price or (2) paying dividends on the Capital Stock of the Parent; provided that no such Indebtedness in this Section 8.1(n)(x) shall be permitted if, after giving pro forma effect to the incurrence of such
Indebtedness, the Consolidated Leverage Ratio would be greater than 6.50 to 1.00, and (B) any refinancing or repurchase of the foregoing, the net cash proceeds of which do not exceed the outstanding principal amount of the Indebtedness being
refinanced or the then current market value of the Indebtedness being repurchased, as applicable, on the date of such refinancing or repurchase, plus accrued interest thereon, premiums payable with respect thereto and any costs and expenses incurred
in connection with such refinancing or repurchase, and the maturity date of such refinancing Indebtedness is no earlier than the maturity date of the Indebtedness being refinanced; or” 
  
 In furtherance of the foregoing provisions of this Section 4, each Term Loan C Lender hereby
agrees that for all purposes under the Loan Agreement, such Term Loan C Lender shall be deemed to have consented to any amendment, consent, waiver or deletion of any of the foregoing provisions of the Loan Agreement (as such provisions are in effect
with respect to all Lenders (other than the Term Loan C Lenders)), upon the consent of the Majority Lenders (which shall be determined after the Closing Date and after giving effect to the consent hereby of the Term Loan C Lenders) and so long as
such amendment, waiver, consent or deletion does not result in a change to such provisions which is less restrictive to the Borrowers and the Restricted Subsidiaries than the provisions set forth in this Section 4. 
  

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 5. Each Term Loan C Lender hereby agrees that on and after the date hereof, such Term Loan C Lender is
bound by the terms and conditions set forth in this Notice of Incremental Facility Commitment and the Loan Agreement as a Term Loan C Lender. 
  
 6. It is understood and agreed that any Term Loan C Lender that also holds any Term Loan B Loans (“Existing Loans”) under the Loan
Agreement shall be deemed to have agreed, unless it notifies the Administrative Agent otherwise, that the Term Loan C Loans to be made by such Term Loan C Lender shall, to the extent of the portion thereof not exceeding the aggregate principal
amount of the Existing Loans of such Term Loan C Lender, be made through such Existing Loans being converted into Term Loan C Loans (and each reference in this Notice of Incremental Facility Commitment or the Loan Agreement to the “making”
of any Incremental Facility Loan, or words of similar import, shall in the case of such Term Loan C Lender be deemed to include such conversion). 
  
 7. It is understood and agreed that for purposes of the Term Loan C, all references to “Term Loan B Commitments”, “Term Loan B Loans”,
“Term Loan B Maturity Date” and “Term Loan B Notes” in the Loan Agreement shall be deemed to include the “Term Loan C Commitments”, “Term Loan C Loans”, “Term Loan C Maturity Date” and “Term
Loan C Notes”, respectively. 
  
 8. The parties hereto agree
that this Notice shall be construed in accordance with and governed by the internal laws of the State of New York applicable to agreements made and to be performed the State of New York without regard to conflicts of laws principles (other than
Section 5-1401 of the New York General Obligations Law) thereof. 
  
 Capitalized terms used in this Notice of Incremental Facility Commitment and not otherwise defined herein are used as defined in the Loan Agreement. 
  
 [SIGNATURE PAGES FOLLOW] 
  

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 IN WITNESS WHEREOF, each of the Borrowers, acting through an Authorized Signatory, has signed this Notice
of Incremental Facility Commitment on the 26th day of May, 2005. 
  

					
	BORROWERS:	 	AMERICAN TOWER, L.P.,
	 	 	a Delaware limited partnership
			
	 	 	By:	 	ATC GP INC., its General Partner
			
	 	 	By:	 	 /s/ Bradley E. Singer

	 	 	Name:	 	 Bradley E. Singer

	 	 	Title:	 	 Chief Financial Officer

		
	 	 	AMERICAN TOWERS, INC.,
	 	 	a Delaware corporation
			
	 	 	By:	 	 /s/ Bradley E. Singer

	 	 	Name:	 	 Bradley E. Singer

	 	 	Title:	 	 Chief Financial Officer

		
	 	 	AMERICAN TOWER INTERNATIONAL, INC.,
	 	 	a Delaware corporation
			
	 	 	By:	 	 /s/ Bradley E. Singer

	 	 	Name:	 	 Bradley E. Singer

	 	 	Title:	 	 Treasurer

		
	 	 	AMERICAN TOWER, LLC,
	 	 	a Delaware limited liability company
			
	 	 	By:	 	 /s/ Bradley E. Singer

	 	 	Name:	 	 Bradley E. Singer

	 	 	Title:	 	 Chief Financial Officer

  
 NOTICE OF INCREMENTAL
FACILITY COMMITMENT 
 SIGNATURE PAGE 

 Affirmation of Guarantors 
  
 Each of the Guarantors listed on Annex A attached hereto, by affixing their signature hereto, affirm that the Term Loan C Loans
constitute Obligations under the Loan Agreement and the other Loan Documents, including the Guarantees and that all Collateral pledged by them continues to secure all of the Obligations (including the Term Loan C Loans) of the Borrowers, the
Restricted Subsidiaries and any other Guarantors. 
  
 For each of the Guarantors listed on Annex A attached hereto: 
  

					
	 	 	ATC GP, INC.
			
	 	 	By:	 	 /s/ Bradley E. Singer

	 	 	Name:	 	 Bradley E. Singer

	 	 	Title:	 	 Chief Financial Officer & Treasurer

		
	 	 	ATC LP, INC.
			
	 	 	By:	 	 /s/ Bradley E. Singer

	 	 	Name:	 	 Bradley E. Singer

	 	 	Title:	 	 Chief Financial Officer & Treasurer

		
	 	 	ATC/PCS, LLC
			
	 	 	By:	 	 AMERICAN TOWER, L.P.,
 its general partner and its sole
member (as applicable)

			
	 	 	By:	 	ATC GP, INC., its general partner
			
	 	 	By:	 	 /s/ Bradley E. Singer

	 	 	Name:	 	 Bradley E. Singer

	 	 	Title:	 	 Chief Financial Officer & Treasurer

 ANNEX A 

	

  
 List of
Guarantors 
  
 ATC GP, Inc. 

 
 ATC LP, Inc. 
  
 ATS/PCS, LLC 
  
 New Loma Communications, Inc. 
  
 ATC Tower Services, Inc. 
  
 UNIsite, LLC 
  
 American Tower Delaware Corporation 
  
 American Tower Management, LLC 
  
 ATC Midwest, LLC 
  
 Telecom Towers, L.L.C. 
  
 Shreveport Tower Company 
  
 ATC South LLC 
  
 MHB Tower Rentals of America, LLC 
  
 ATC International Holding Corp. 
  
 Iron & Steel Co., Inc. 
  
 Columbia Steel, Inc. 
  
 ATC Mexico Holding Corp. 
  
 ATC MexHold, Inc. 
  
 ATC South America Holding Corp. 
  
 American Tower Corporation de Mexico S. de R.L. de C.V.

  
 MATC Celular S. de R.L. de C.V. 

 
 MATC Digital S. de R.L. de C.V. 
  
 MATC Servicios, S. de R.L. de C.V. 
  
 Towers of America, L.L.L.P. 

 SCHEDULE 1 
  

				
	 Financial Institution

	  	Amount

	 Toronto Dominion (Texas), LLC
	  	$	15,375,000.00
	 AIM Canada Fund Inc.
	  	$	1,982,487.44
	 Trimark Floating Rate Income Fund
	  	$	1,982,487.44
	 AIM Floating Rate Fund
	  	$	791,556.73
	 Avalon Capital Ltd. 3
	  	$	1,583,113.46
	 Champlain CLO Ltd.
	  	$	1,583,113.46
	 Charter View Portfolio
	  	$	2,638,522.43
	 Diversified Credit Portfolio Ltd.
	  	$	791,556.73
	 Loan Funding IX LLC
	  	$	395,778.35
	 Sequils-Liberty, Ltd.
	  	$	1,055,408,97
	 Sagamore CLO Ltd.
	  	$	263,852.24
	 Saratoga CLO I, Limited
	  	$	897,097.63
	 American Express Certificate Company
	  	$	504,484.30
	 Centurion CDO II, Ltd.
	  	$	768,459.64
	 Centurion CDO VI, Ltd.
	  	$	667,562.77
	 Centurion CDO VII, Ltd.
	  	$	3,719,730.95
	 Centurion CDO 9, Limited
	  	$	1,355,457.41
	 IDS Life Insurance Company
	  	$	504,484.30
	 Sequils-Centurion V, Ltd.
	  	$	1,479,820.63
	 Apex (IDM) CDO I, Ltd.
	  	$	701,901.04
	 Babson CLO Ltd. 2004-I
	  	$	1,736,875.00
	 ELC (Cayman) Ltd. 2000-I
	  	$	161,977.17
	 Tryon CLO Ltd. 2000-I
	  	$	1,191,000.00
	 Ballantyne Funding LLC
	  	$	1,000,000.00
	 Stanwich Loan Funding LLC
	  	$	2,481,250.00
	 Harbour Town Funding LLC
	  	$	1,333,333.33
	 Long Lane Master Trust IV,
	  	$	666,666.67
	 Seminole Funding LLC
	  	$	992,500.00

				
	 Financial Institution

	  	Amount

	 Calyon, New York Branch
	  	$	10,000,000.00
	 Citicorp North America, Inc.
	  	$	19,000,000.00
	 Rabobank International, New York Branch
	  	$	22,387,500.00
	 Credit Industriel et Commercial
	  	$	4,962,500.00
	 First Trust/Four Corners Senior Floating Rate Income Fund II
	  	$	7,940,000.00
	 Macquarie/First Trust Global Infrastructure/Utilities Dividend & Income Fund
	  	$	1,985,000.00
	 Highland Floating Rate Advantage Fund
	  	$	4,962,500.00
	 Loan Funding VII LLC
	  	$	3,970,000.00
	 General Electric Capital Corporation
	  	$	36,872,500.00
	 Hamilton Floating Rate Fund, LLC
	  	$	2,000,000.00
	 KeyBank National Association
	  	$	10,000,000.00
	 Loan Funding V, LLC
	  	$	2,500,000.00
	 Avery Point CLO, Ltd.
	  	$	1,333,333.33
	 Brant Point II CBO 2000-1 Ltd.
	  	$	1,000,000.00
	 Castle Hill I-INGOTS, Ltd.
	  	$	1,666,666.67
	 Castle Hill II-INGOTS, Ltd.
	  	$	2,000,000.00
	 Castle Hill III CLO, Limited
	  	$	1,333,333.33
	 Race Point CLO, Limited
	  	$	1,333,333.33
	 Race Point II CLO, Limited
	  	$	1,000,000.00
	 The Bank of New York
	  	$	5,000,000.00
	 The Royal Bank of Scotland plc
	  	$	10,000,000.00
	 Trumbull THC2 Loan Funding LLC
	  	$	2,481,250.00
	 Union Bank of California, N.A.
	  	$	10,000,000.00
	 Webster Bank, National Association
	  	$	1,985,000.00

 SCHEDULE 2 
  

			
		
	Incremental Facility Amount:	  	$397,000,000.00 (“Term Loan C Loans”)
		
	Administrative Agent:	  	Toronto Dominion (Texas) LLC
		
	 Lead Arrangers and
 Joint Book Runners:
	  	TD Securities (USA) LLC and J.P. Morgan Securities, Inc.
		
	Purpose:	  	The proceeds shall be used solely for the purpose of refinancing the Term Loan B Loans.
		
	Loans:	  	The Incremental Facility Lenders having Term Loan C Loan Commitments (the “Term Loan C Lenders”) agree severally, and not jointly, upon the terms and subject to the
conditions of this Notice and the Loan Agreement to lend to the Borrowers $397,000,000.00 on the effective date of the Term Loan C Loan Commitments, such amounts not to exceed, (i) in the aggregate at any one time outstanding, the Term Loan C Loan
Commitments and, (ii) individually, such Term Loan C Lender’s Term Loan C Loan Commitment, in each case, as in effect from time to time; provided, however that amounts repaid under the Term Loan C Loans may not be
reborrowed.
		
	Conditions Precedent:	  	The obligation of the Term Loan C Lenders to undertake the Term Loan C Loan Commitments, and the effectiveness of the Term Loan C Loan Commitments are subject to the prior or contemporaneous
fulfillment of each of the following conditions:
		
	 	  	 (a) The Administrative Agent and the Term Loan C Lenders shall have received each of the following:

		
	 	  	 (i) Notice of Incremental Facility Commitment, duly executed by the Borrowers, the Restricted Subsidiaries and the other Guarantors;

		
	 	  	 (ii) duly executed Term Loan C Notes;

		
	 	  	 (iii) revised projections, which shall be in form and substance reasonably satisfactory to the Administrative Agent and which shall demonstrate the
Borrowers’ ability to timely repay the Term Loan C Loans and to comply with Sections 7.8, 7.9, 7.10 and 7.11 of the Loan Agreement after giving effect thereto;

		
	 	  	 (iv) all such other documents as either the Administrative Agent or any Term Loan C Lender may reasonably request, certified by an appropriate governmental
official or an Authorized Signatory if so requested; and

			
	 	  	 (v) any and all fees which may be due upon closing.

		
	 	  	 (b) The Administrative Agent and the Term Loan C Lenders shall have received evidence satisfactory to them that all Necessary Authorizations, other than
Necessary Authorizations the absence of which could not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect, including, without limitation, all necessary consents to the closing of the Term Loan C Loans, have
been obtained or made, are in full force and effect and are not subject to any pending or, to the knowledge of the Borrowers, threatened reversal or cancellation, and the Administrative Agent and the Term Loan C Lenders shall have received a
certificate of an Authorized Signatory so stating.

		
	Availability:	  	Subject to the provisions herein and in the Loan Agreement, the Term Loan C Loans shall be fully drawn on the Closing Date; provided, however, that additional revolving
or term loan incremental facilities shall be available after the Closing Date subject to the terms and conditions of Section 2.15 of the Loan Agreement.
		
	Term Loan C Loan Maturity Date:	  	August 31, 2011, or such earlier date as the payment of the Term Loan C Loans shall be due (whether by acceleration or otherwise), provided, however, that the Term Loan C
Maturity Date shall be October 31, 2008 if on or prior to August 1, 2008, both (a) the Senior Notes Due 2009 have not been (i) refinanced with Indebtedness for Money Borrowed of the Parent having a maturity date of or after February 28, 2012, (ii)
refinanced with proceeds of the Loans or (iii) repaid, prepaid, redeemed, repurchased or otherwise retired with Restricted Payments permitted under Section 7.7(a), (b) or (d) of the Loan Agreement or with cash of the Parent and (b) the Borrowers
have not delivered to the Lenders a certificate that the Consolidated Leverage Ratio as of June 30, 2008 was less than or equal to 4.50 to 1.00, based upon the unaudited consolidated financial statements of the Parent.

					
	Repayment Schedule:	  	The Term Loan C Loans shall amortize in quarterly installments commencing on June 30, 2005, in the quarterly percentages set forth below on the dates set forth below based on the
principal amount of the Term Loan C Loans outstanding on June 29, 2005:

  

			
		
	 Date

	  	Quarterly Percentage
of Term Loan C Loans
Outstanding on June 29,
2005 Due on Each
Repayment Date

	 June 30, 2005, September 30, 2005 and December 31, 2005
	  	0.25%
		
	 March 31, 2006, June 30, 2006, September 30, 2006 and December 31, 2006
	  	0.25%
		
	 March 31, 2007, June 30, 2007, September 30, 2007 and December 31, 2007
	  	0.25%
		
	 March 31, 2008, June 30, 2008, September 30, 2008 and December 31, 2008
	  	0.25%
		
	 March 31, 2009, June 30, 2009, September 30, 2009 and December 31, 2009
	  	0.25%
		
	 March 31, 2010, June 30, 2010, September 30, 2010, December 31, 2010 and March 31, 2011
	  	0.25%
		
	 June 30, 2011 and August 31, 2011
	  	47.00%

  

					
		
	Applicable Margin:	  	For all purposes under the Loan Agreement, the Applicable Margin for the Term Loan C Loans shall be with respect to (a) Base Rate Advances, 0.75% and (b) with respect to LIBOR
Advances, 1.75%; provided, however, that for all times from and after the Borrowers’ senior secured debt receives a Standard and Poor’s rating of BB- or better and a Moody’s rating of Ba3 or better, the Applicable Margin
for the Term Loan C Loans shall be with respect to (a) Base Rate Advances, 0.50% and (b) with respect to LIBOR Advances, 1.50%.
		
	Payments:	  	Payments of interest and principal shall, except to the extent set forth herein, be payable in the same manner as payments for interest and principal of the Term Loan B Loans
under the Loan Agreement.

			
	 Mandatory Reduction/
 Repayment:
	  	As set forth in the Loan Agreement with respect to Term Loan B Loans, which mandatory repayments include, but are not limited to, 100.0% of the Unreinvested Net Proceeds from all sales,
transfers or other dispositions of assets of the Borrowers and their Restricted Subsidiaries or from any insurance or condemnation proceedings in respect of such assets above US$10,000,000 in the aggregate during the term of the
Facilities.
		
	 Assignments/
 Participations:
	  	The Term Loan C Lenders shall be permitted to assign and sell participations in their loans and commitments, subject, in the case of assignments (other than to any Affiliate of such Lender or
to another Lender), to the consent of the Borrowers (other than when any Event of Default shall have occurred and is continuing) and the Administrative Agent (which consent shall not be unreasonably withheld). In the case of assignments (other than
to another Lender or Affiliate of a Lender), the minimum assignment amount shall be in minimum principal amounts of the lesser of (X) $1,000,000 or (Y) the amount of such Lender’s Revolving Loan Commitment, Term Loan A Loans, Term Loan C Loans
or Incremental Facility Commitment (in a single assignment only) unless otherwise agreed by the Borrowers and Administrative Agent. The Administrative Agent shall receive a processing fee of $3,500 payable by the assignor and/or the
assignee.

 TOWERS OF AMERICA, L.L.L.P. 
  
 By: AMERICAN TOWER, L.P., 
         its general partner and its sole member 
         (as applicable) 
  
 By: ATC GP, INC., its general partner 
  
 By: /s/ Bradley E. Singer  
         Name: Bradley E. Singer 
         Title: Chief Financial Officer & Treasurer 
  
 NEW LOMA COMMUNICATIONS, INC. 
  
 By: /s/ Bradley E. Singer  
         Name: Bradley E. Singer 
         Title: Chief Financial Officer & Treasurer 
  
 ATC TOWER SERVICES, INC. 
  
 By: /s/ Bradley E. Singer  
         Name: Bradley E. Singer 
         Title: Chief Financial Officer & Treasurer 
  
 UNISITE, LLC 
  
 By: AMERICAN TOWERS, INC., 
         its sole member and manager 
  
 By: /s/ Bradley E. Singer  
         Name: Bradley E. Singer 
         Title: Chief Financial Officer & Treasurer 
  
 NOTICE OF INCREMENTAL FACILITY COMMITMENT 
 Signature Page 

 AMERICAN TOWER DELAWARE CORPORATION 
  
 By: /s/ Bradley E. Singer  
         Name: Bradley E. Singer 
         Title: Chief Financial Officer & Treasurer 
  
 AMERICAN TOWER MANAGEMENT, LLC 
  
 By: AMERICAN TOWERS, INC., 
         its sole member and manager 
  
 By: /s/ Bradley E. Singer  
         Name: Bradley E. Singer 
         Title: Chief Financial Officer & Treasurer 
  
 ATC MIDWEST, LLC 
  
 By: AMERICAN TOWER MANAGEMENT, 
         INC., its sole member and manager 
  
 By: /s/ Bradley E. Singer  
         Name: Bradley E. Singer 
         Title: Chief Financial Officer & Treasurer 
  
 TELECOM TOWERS, L.L.C. 
  
 By: AMERICAN TOWERS, INC. 
         its sole member and manager 
  
 By: /s/ Bradley E. Singer  
         Name: Bradley E. Singer 
         Title: Chief Financial Officer & Treasurer 
  
 NOTICE OF INCREMENTAL FACILITY COMMITMENT 
 Signature Page 

 SHREVE PORT TOWER COMPANY 
  
 By: TELECOM TOWERS, L.L.C. and ATC 
         SOUTH, LLC, its general partners 
  
 By: AMERICAN TOWERS, INC. 
         their sole member and manager 
  
 By: /s/ Bradley E. Singer  
         Name: Bradley E. Singer 
         Title: Chief Financial Officer & Treasurer 
  
 ATC SOUTH LLC 
  
 By: AMERICAN TOWERS, INC. 
         its sole member and manager 
  
 By: /s/ Bradley E. Singer  
         Name: Bradley E. Singer 
         Title: Chief Financial Officer & Treasurer 
  
 MHB TOWER RENTALS OF AMERICA, LLC 
  
 By: ATC SOUTH, LLC, its sole member 
  
 By: AMERICAN TOWERS, INC. 
         its sole member and manager 
  
 By: /s/ Bradley E. Singer  
         Name: Bradley E. Singer 
         Title: Chief Financial Officer & Treasurer 
  
 ATC INTERNATIONAL HOLDING CORP. 
  
 By: /s/ Bradley E. Singer  
         Name: Bradley E. Singer 
         Title: Chief Financial Officer & Treasurer 
  
 NOTICE OF INCREMENTAL FACILITY COMMITMENT 
 Signature Page 

 IRON & STEEL CO., INC. 
  
 By: /s/ William H. Hess  
         Name: William H. Hess 
         Title: Executive Vice President 
  
 COLUMBIA STEEL, INC. 
  
 By: /s/ William H. Hess  
         Name: William H. Hess 
         Title: Executive Vice President 
  
 ATC MEXICO HOLDING CORP. 
  
 By: /s/ William H. Hess  
         Name: William H. Hess 
         Title: Chief Financial Officer 
  
 ATC MEXHOLD, INC. 
  
 By: /s/ William H. Hess  
         Name: William H. Hess 
         Title: Chief Financial Officer 
  
 ATC SOUTH AMERICA HOLDING CORP. 
  
 By: /s/ William H. Hess  
         Name: William H. Hess 
         Title: Chief Financial Officer 
  
 AMERICAN TOWER CORPORATION de MEXICO S. de 
 R. L. de C.V. 
  
 By: /s/ William H. Hess  
         Name: William H. Hess 
         Title: Attorney-In-Fact 
  
 NOTICE OF INCREMENTAL FACILITY COMMITMENT 
 Signature Page 

 MATC CELULAR S. de R.L. de C.V. 
  
 By: /s/ William H. Hess  
         Name: William H. Hess 
         Title: Attorney-In-Fact 
  
 MATC DIGITAL S. de R.L. de C.V. 
  
 By: /s/ William H. Hess  
         Name: William H. Hess 
         Title: Attorney-In-Fact 
  
 MATC SERVICIOS, de R.L. de C.V. 
  
 By: /s/ William H. Hess  
         Name: William H. Hess 
         Title: Attorney-In-Fact 
  
 TORONTO DOMINION (TEXAS) LLC, 
 as a Lender 
  
 By: /s/ Jim Bridwell  
         Name: Jim Bridwell 
         Title: Authorized Signatory 
  
 NOTICE OF INCREMENTAL FACILITY COMMITMENT 
 Signature Page 

 AIM CANADA FUND INC. (for its TRIMARK 
 DIVERSIFIED INCOME CLASS), as Assignee 
  
 By: /s/ Rex Chong  
         Name: AIM Funds Management Inc., in its capacity as 
                 manager of TRIMARK DIVERSIFIED INCOME 
                 CLASS of AIM Canada Fund Inc.

         Title: Rex Chong, Portfolio Manager 
  
 TRIMARK FLOATING RATE INCOME FUND, as Assignee 

 
 By: /s/ Rex Chong  
         Name: AIM Funds Management Inc., in its capacity as 
                 manager of TRIMARK FLOATING RATE

                 INCOME FUND 

        Title: Rex Chong, Portfolio Manager 
  
 AIM FLOATING RATE FUND 
  
 By: INVESCO Senior Secured Management, Inc., 
         as Sub-Adviser 
  
 By: /s/ Gregory Stoeckle  
         Name: Gregory Stoeckle 
         Title: Authorized Signatory 
  
 AVALON CAPITAL LTD. 3 
  
 By: INVESCO Senior Secured Management, Inc., as 

        Asset Manager 
  
 By: /s/ Gregory Stoeckle  
         Name: Gregory Stoeckle 
         Title: Authorized Signatory 
  
 NOTICE OF INCREMENTAL FACILITY COMMITMENT 
 Signature Page 

 CHAMPLAIN CLO LTD. 
  
 By: INVESCO Senior Secured Management, Inc., 
         as Collateral Manager 
  
 By: /s/ Gregory Stoeckle  
         Name: Gregory Stoeckle 
         Title: Authorized Signatory 
  
 CHARTER VIEW PORTFOLIO 
  
 By: INVESCO Senior Secured Management, Inc., 
         as Investment Advisor 
  
 By: /s/ Gregory Stoeckle  
         Name: Gregory Stoeckle 
         Title: Authorized Signatory 
  
 DIVERSIFIED CREDIT PORTFOLIO LTD. 
  
 By: INVESCO Senior Secured Management, Inc., 
         as Investment Advisor 
  
 By: /s/ Gregory Stoeckle  
         Name: Gregory Stoeckle 
         Title: Authorized Signatory 
  
 LOAN FUNDING IX LLC, for itself or as agent for 

Corporate Loan Funding IX LLC 
  
 By: INVESCO Senior Secured Management, Inc., 
         as Portfolio Manager 
  
 By: /s/ Gregory Stoeckle  
         Name: Gregory Stoeckle 
         Title: Authorized Signatory 
  
 NOTICE OF INCREMENTAL FACILITY COMMITMENT 
 Signature Page 

 SEQUILS-LIBERTY, LTD. 
  
 By: INVESCO Senior Secured Management, Inc., as Collateral Manager 
  
 By: /s/ Gregory Stoeckle  
         Name: Gregory Stoeckle 
         Title: Authorized Signatory 
  
 SAGAMORE CLO LTD. 
  
 By: INVESCO Senior Secured Management, Inc., as Collateral
Manager 
  
 By: /s/ Gregory Stoeckle 

         Name: Gregory Stoeckle 
         Title: Authorized Signatory 
  
 SARATOGA CLO I, LIMITED 
  
 By: INVESCO Senior Secured Management, Inc., as the Asset
Manager 
  
 By: /s/ Gregory Stoeckle 

         Name: Gregory Stoeckle 
         Title: Authorized Signatory 
  
 AMERICAN EXPRESS CERTIFICATE COMPANY 
  
 By: American Express Asset Management Group, 
         Inc., as Collateral Manager, as a Lender 
  
 By: /s/ Yvonne E. Stevens  
         Name: Yvonne E. Stevens 
         Title: Senior Managing Director 
  
 NOTICE OF INCREMENTAL FACILITY COMMITMENT 
 Signature Page 

 CENTURION CDO II, LTD. 
  
 By: American Express Asset Management Group, 
         Inc. as Collateral Manager, as a Lender 
  
 By: /s/ Vincent P. Pham  
         Name: Vincent P. Pham 
         Title: Director – Operations 
  
 CENTURION CDO VI, LTD. 
  
 By: American Express Asset Management Group, 
         Inc. as Collateral Manager, as a Lender 
  
 By: /s/ Vincent P. Pham  
         Name: Vincent P. Pham 
         Title: Director – Operations 
  
 CENTURION CDO VII, LTD. 
  
 By: American Express Asset Management Group, 
         Inc. as Collateral Manager, as a Lender 
  
 By: /s/ Vincent P. Pham  
         Name: Vincent P. Pham 
         Title: Director – Operations 
  
 CENTURION CDO 9, LTD. 
  
 By: American Express Asset Management Group, 
         Inc. as Collateral Manager, as a Lender 
  
 By: /s/ Vincent P. Pham  
         Name: Vincent P. Pham 
         Title: Director – Operations 
  
 NOTICE OF INCREMENTAL FACILITY COMMITMENT 
 Signature Page 

 IDS LIFE INSURANCE COMPANY 
  
 By: American Express Asset Management Group, 
         Inc., as Collateral Manager, as a Lender 
  
 By: /s/ Yvonne E. Stevens  
         Name: Yvonne E. Stevens 
         Title: Senior Managing Director 
  
 SEQUILS-CENTURION V, LTD. 
  
 By: American Express Asset Management Group, 
         Inc. as Collateral Manager, as a Lender 
  
 By: /s/ Vincent P. Pham  
         Name: Vincent P. Pham 
         Title: Director – Operations 
  
 APEX (IDM) CDO I, LTD. 
 BABSON CLO LTD 2004-I 
 ELC (CAYMAN) LTD. 2000-I 
 TRYON CLO LTD. 2000-I 
 By: Babson Capital Management LLC as Collateral Manager 
  
 By: /s/ David P. Wells  
         Name: David P. Wells 
         Title: Managing Director 
  
 BALLANTYNE FUNDING LLC, as a Lender 
  
 By: /s/ Meredith J. Koslick  
         Name: Meredith J. Koslick 
         Title: Assistant Vice President 
  
 NOTICE OF INCREMENTAL FACILITY COMMITMENT 
 Signature Page 

 STANWICH LOAN FUNDING LLC, as a Lender 
  
 By: /s/ Meredith J. Koslick  
         Name: Meredith J. Koslick 
         Title: Assistant Vice President 
  
 CALYON, NEW YORK BRANCH, as a Lender 
  
 By: /s/ Stephane Ducroizet  
         Name: Stephane Ducroizet 
         Title: Vice President 
  
 By: /s/ John McCloskey  
         Name: John McCloskey 
         Title: Director 
  
 CITICORP NORTH AMERICA, INC., as a Lender 
  
 By: /s/ John Judge  
         Name: John Judge 
         Title: Vice President 
  
 COOPERATIEVE CENTRALE RAIFFEISEN- 
 BOERENLEEN BANK B.A., “RABOBANK 
 INTERNATIONAL,” NEW YORK BRANCH, as a 
 Lender 
  
 By: /s/ Michael R. Phelan  
         Name: Michael R. Phelan 
         Title: Executive Director 
  
 By: /s/ Brett Delfino  
         Name: Brett Delfino 
         Title: Executive Director 
  
 NOTICE OF INCREMENTAL FACILITY COMMITMENT 
 Signature Page 

 CREDIT INDUSTRIEL ET COMMERCIAL, as a Lender 
  
 By: /s/ Marcus Edward  
         Name: Marcus Edward 
         Title: Vice President 
  
 By: /s/ Sean Mounier  
         Name: Sean Mounier 
         Title: First Vice President 
  
 FIRST TRUST/FOUR CORNERS SENIOR 
 FLOATING RATE INCOME FUND II 
  
 By: Four Corners Capital Management, LLC as Sub-Adviser 
  
 By: /s/ Steve Columbaro  
         Name: Steve Columbaro 
         Title: Vice President 
  
 MACQUARIE/FIRST TRUST GLOBAL 
 INFRASTRUCTURE/UTILITIES DIVIDEND & 
 INCOME FUND 
  
 By: Four Corners Capital Management, LLC as Sub-Adviser 
  
 By: /s/ Steve Columbaro  
         Name: Steve Columbaro 
         Title: Vice President 
  
 HARBOUR TOWN FUNDING LLC, as a Lender 
  
 By: /s/ Meredith J. Koslick  
         Name: Meredith J. Koslick 
         Title: Assistant Vice President 
  
 NOTICE OF INCREMENTAL FACILITY COMMITMENT 
 Signature Page 

 HIGHLAND FLOATING RATE ADVANTAGE FUND 
  
 By: Highland Capital Management, L.P., its 
         Investment Advisor, as a Lender 
  
 By: /s/ Todd Travers  
         Name: Todd Travers 
         Title: Senior Portfolio Manager, Highland 
         Capital Management, L.P. 
  
 LOAN FUNDING VII LLC 
  
 By: Highland Capital Management, L.P., its 
         Collateral Manager, as a Lender 
  
 By: /s/ Mark Okada  
         Name: Mark Okada 
         Title: Chief Investment Officer, Highland 
         Capital Management, L.P. 
  
 GENERAL ELECTRIC CAPITAL 
 CORPORATION, as a Lender 
  
 By: /s/ Matthew A. Toth III  
         Name: Matthew A. Toth III 
         Title: Authorized Signatory 
  
 HAMILTON FLOATING RATE FUND, LLC, as a Lender 
  

By: /s/ Dean Stephan  
         Name: Dean Stephan 
         Title: Managing Director 
  
 NOTICE OF INCREMENTAL FACILITY COMMITMENT 
 Signature Page 

 KEYBANK NATIONAL ASSOCIATION, as a Lender 
  
 By: /s/ Jennifer O’Brien  
         Name: Jennifer O’Brien 
         Title: Vice President 
  
 LOAN FUNDING V, LLC, for itself or as agent for 
 CORPORATE LOAN FUNDING V, LLC, as a Lender 
  
 By: Prudential Investment Management, Inc., 
         as Portfolio Manager 
  
 By: /s/ B. Ross Smead  
         Name: B. Ross Smead 
         Title: Vice President 
  
 LONG LANE MASTER TRUST IV, as a Lender 
  
 By: /s/ Meredith J. Koslick  
         Name: Meredith J. Koslick 
  
 SANKATY ADVISORS, LLC as Collateral 
 Manager for AVERY POINT CLO, LTD., as Term Lender 
  
 By: /s/ Diane J. Exter  
         Name: Diane J. Exter 
         Title: Managing Director, Portfolio Manager 
  
 NOTICE OF INCREMENTAL FACILITY COMMITMENT 
 Signature Page 

 SANKATY ADVISORS, LLC as Collateral 
 Manager for BRANT POINT II CBO 2001-1 LTD., as Term Lender 
  
 By: /s/ Diane J. Exter  
         Name: Diane J. Exter 
         Title: Managing Director, Portfolio Manager 
  
 SANKATY ADVISORS, LLC as Collateral 
 Manager for CASTLE HILL I – INGOTS, LTD., 
 as Term Lender 
  
 By: /s/ Diane J. Exter  
         Name: Diane J. Exter 
         Title: Managing Director, Portfolio Manager 
  
 SANKATY ADVISORS, LLC as Collateral 
 Manager for CASTLE HILL II – INGOTS, LTD., 
 as Term Lender 
  
 By: /s/ Diane J. Exter  
         Name: Diane J. Exter 
         Title: Managing Director, Portfolio Manager 
  
 SANKATY ADVISORS, LLC as Collateral 
 Manager for CASTLE HILL III CLO, LIMITED, 
 as Term Lender 
  
 By: /s/ Diane J. Exter  
         Name: Diane J. Exter 
         Title: Managing Director, Portfolio Manager 
  
 NOTICE OF INCREMENTAL FACILITY COMMITMENT 
 Signature Page 

 SANKATY ADVISORS, LLC as Collateral 
 Manager for RACE POINT CLO, LIMITED, as Term Lender 
  
 By: /s/ Diane J. Exter  
         Name: Diane J. Exter 
         Title: Managing Director, Portfolio Manager 
  
 SANKATY ADVISORS, LLC as Collateral 
 Manager for RACE POINT II CLO, LIMITED, as Term Lender 
  
 By: /s/ Diane J. Exter  
         Name: Diane J. Exter 
         Title: Managing Director, Portfolio Manager 
  
 SEMINOLE FUNDING LLC, as a Lender 
  
 By: /s/ Meredith J. Koslick  
         Name: Meredith J. Koslick 
  
 THE BANK OF NEW YORK, as a Lender 
  
 By: /s/ Steven J. Correll  
         Name: Steven J. Correll 
         Title: Vice President 
  
 THE ROYAL BANK OF SCOTLAND PLC, as a Lender 
  
 By: /s/ Andrew Wynn  
         Name: Andrew Wynn 
         Title: Senior Vice President 
  
 NOTICE OF INCREMENTAL FACILITY COMMITMENT 
 Signature Page 

 TRUMBULL THC2 LOAN FUNDING LLC, for 
 itself or as agent for Trumbull THC2 CFPI Loan 
 Funding LLC, as a Lender 
  
 By: /s/ Dominic Blea  
         Name: Dominic Blea 
         Title: As Attorney-in-Fact 
  
 UNION BANK OF CALIFORNIA, N.A., as a Lender 
  
 By: /s/ Peter Connoy  
         Name: Peter Connoy 
         Title: SVP 
  
 WEBSTER BANK, NATIONAL ASSOCIATION, as a Lender 
  
 By: /s/ Robert E. Meditz  
         Name: Robert E. Meditz 
         Title: Vice PresidentStock Incentive Plan

 EXHIBIT 10.1 
  
 IBERIABANK Corporation 
 2005 STOCK
INCENTIVE PLAN 
  

	1.	Establishment, Purpose, and Types of Awards 

  
 IBERIABANK Corporation (the “Company”) hereby establishes this equity-based incentive compensation plan to be known as the “IBERIABANK
Corporation 2005 Stock Incentive Plan” (hereinafter referred to as the “Plan”), in order to provide incentives and awards to select employees and directors of the Company and its Affiliates. 
  
 The Plan permits the granting of the following types of awards
(“Awards”), according to the Sections of the Plan listed here: 
  

			
	 Section 6
	  	Options
	 Section 7
	  	Share Appreciation Rights
	 Section 8
	  	Restricted Shares, Restricted Share Units, and Unrestricted Shares
	 Section 9
	  	Deferred Share Units
	 Section 10
	  	Performance Awards

  
 The Plan is not
intended to affect and shall not affect any stock options, equity-based compensation, or other benefits that the Company or its Affiliates may have provided, or may separately provide in the future pursuant to any agreement, plan, or program that is
independent of this Plan. 
  

	2.	Defined Terms 

  
 Terms in the Plan that begin with an initial capital letter have the defined meaning set forth in Appendix A, unless defined elsewhere in this Plan
or the context of their use clearly indicates a different meaning. 
  

	3.	Shares Subject to the Plan 

  
 Subject to the provisions of Section 13 of the Plan, the maximum number of Shares that the Company may issue for all Awards is 450,000 Shares, provided
that the Company shall not issue more than forty (40%) percent of those Shares pursuant to Awards in a form other than Options and SARs. For all Awards, the Shares issued pursuant to the Plan may be authorized but unissued Shares, or Shares that the
Company has reacquired or otherwise holds in treasury. 
  
 Shares
that are subject to an Award that for any reason expires, is forfeited, is cancelled, or becomes unexercisable, and Shares that are for any other reason not paid or delivered under the Plan shall again, except to the extent prohibited by Applicable
Law, be available for subsequent Awards under the Plan. Notwithstanding the foregoing, but subject to adjustments pursuant to Section 13 below, the number of Shares that are available for ISO Awards shall be determined, to the extent required under
applicable tax laws, by reducing the number of Shares designated in the preceding paragraph by the number of Shares issued pursuant to Awards, provided that any Shares that are issued under the Plan and forfeited back to the Plan shall be available
for issuance pursuant to future ISO Awards. 
  

	4.	Administration 

  
 (a) General. The Committee shall administer the Plan in accordance with its terms, provided that the Board may act in lieu of the Committee on any
matter. The Committee shall hold meetings at such times and places as it may determine and shall make such rules and regulations for the conduct of its business as it deems advisable. In the absence of a duly appointed Committee or if the Board
otherwise chooses to act in lieu of the Committee, the Board shall function as the Committee for all purposes of the Plan. 
  
 (b) Committee Composition. The Board shall appoint the members of the Committee. If and to the extent permitted by Applicable Law, the Committee
may authorize one or more Reporting Persons (or other officers) to make Awards to Eligible Persons who are not Reporting Persons (or other officers whom the Committee 

 
has specifically authorized to make Awards). The Board may at any time appoint additional members to the Committee, remove and replace members of the
Committee with or without Cause, and fill vacancies on the Committee however caused. 
  
 (c) Powers of the Committee. Subject to the provisions of the Plan, the Committee shall have the authority, in its sole discretion: 
  
 (i) to determine Eligible Persons to whom Awards shall be granted from time to time and the number of
Shares, units, or SARs to be covered by each Award; 
  
 (ii) to determine, from time to time, the Fair Market Value of Shares; 
  
 (iii) to determine, and to set forth in Award Agreements, the terms and conditions of all Awards, including any applicable exercise or
purchase price, the installments and conditions under which an Award shall become vested (which may be based on performance), terminated, expired, cancelled, or replaced, and the circumstances for vesting acceleration or waiver of forfeiture
restrictions, and other restrictions and limitations; 
  
 (iv) to approve the forms of Award Agreements and all other documents, notices and certificates in connection therewith which need not be identical either as to type of Award or among Participants; 
  
 (v) to construe and interpret the terms of the Plan and any
Award Agreement, to determine the meaning of their terms, and to prescribe, amend, and rescind rules and procedures relating to the Plan and its administration; and 
  
 (vi) in order to fulfill the purposes of the Plan and without amending the Plan, modify, cancel, or waive
the Company’s rights with respect to any Awards, to adjust or to modify Award Agreements for changes in Applicable Law, and to recognize differences in foreign law, tax policies, or customs; and 
  
 (vii) to make all other interpretations and to take all
other actions that the Committee may consider necessary or advisable to administer the Plan or to effectuate its purposes. 
  
 Subject to Applicable Law and the restrictions set forth in the Plan, the Committee may delegate administrative functions to individuals who are Reporting
Persons, officers, or Employees of the Company or its Affiliates. 
  
 (d) Deference to Committee Determinations. The Committee shall have the discretion to interpret or construe ambiguous, unclear, or implied (but omitted) terms in any fashion it deems to be appropriate in its sole discretion, and to
make any findings of fact needed in the administration of the Plan or Award Agreements. The Committee’s prior exercise of its discretionary authority shall not obligate it to exercise its authority in a like fashion thereafter. The
Committee’s interpretation and construction of any provision of the Plan, or of any Award or Award Agreement, shall be final, binding, and conclusive. The validity of any such interpretation, construction, decision or finding of fact shall not
be given de novo review if challenged in court, by arbitration, or in any other forum, and shall be upheld unless clearly arbitrary or capricious. 
  
 (e) No Liability; Indemnification. Neither the Board nor any Committee member, nor any Person acting at the direction of the Board or the
Committee, shall be liable for any act, omission, interpretation, construction or determination made in good faith with respect to the Plan, any Award or any Award Agreement. The Company and its Affiliates shall pay or reimburse any member of the
Committee, as well as any Director, Employee, or Consultant who takes action in connection with the Plan, for all expenses incurred with respect to the Plan, and to the full extent allowable under Applicable Law shall indemnify each and every one of
them for any claims, liabilities, and costs (including reasonable attorney’s fees) arising out of their good faith performance of duties under the Plan. The Company and its Affiliates may obtain liability insurance for this purpose. 

 

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	5.	Eligibility 

  
 (a) General Rule. The Committee may grant ISOs only to Employees (including officers who are Employees) of the Company or an Affiliate that is a
“parent corporation” or “subsidiary corporation” within the meaning of Section 424 of the Code, and may grant all other Awards to any Eligible Person. A Participant who has been granted an Award may be granted an additional Award
or Awards if the Committee shall so determine, if such person is otherwise an Eligible Person and if otherwise in accordance with the terms of the Plan. 
  
 (b) Grant of Awards. Subject to the express provisions of the Plan, the Committee shall determine from the class of Eligible Persons those
individuals to whom Awards under the Plan may be granted, the number of Shares subject to each Award, the price (if any) to be paid for the Shares or the Award and, in the case of Performance Awards, in addition to the matters addressed in Section
10 below, the specific objectives, goals and performance criteria that further define the Performance Award. Each Award shall be evidenced by an Award Agreement signed by the Company and, if required by the Committee, by the Participant. The Award
Agreement shall set forth the material terms and conditions of the Award established by the Committee. 
  
 (c) Limits on Awards. During the term of the Plan, no Participant may receive Options and SARs that relate to more than 50,000 Shares per calendar
year. The Committee will adjust this limitation pursuant to Section 13 below. 
  
 (d) Replacement Awards. Subject to Applicable Laws (including any associated Shareholder approval requirements), the Committee may, in its sole discretion and upon such terms as it deems appropriate, require as
a condition of the grant of an Award to a Participant that the Participant surrender for cancellation some or all of the Awards that have previously been granted to the Participant under this Plan or otherwise. An Award that is conditioned upon such
surrender may or may not be the same type of Award, may cover the same (or a lesser or greater) number of Shares as such surrendered Award, may have other terms that are determined without regard to the terms or conditions of such surrendered Award,
and may contain any other terms that the Committee deems appropriate. In the case of Options, these other terms may not involve an Exercise Price that is lower than the Exercise Price of the surrendered Option unless the Company’s shareholders
approve the grant itself or the program under which the grant is made pursuant to the Plan. 
  

	6.	Option Awards 

  
 (a) Types; Documentation. The Committee may in its discretion grant ISOs to any Employee and Non-ISOs to any Eligible Person, and shall
evidence any such grants in an Award Agreement that is delivered to the Participant. Each Option shall be designated in the Award Agreement as an ISO or a Non-ISO, and the same Award Agreement may grant both types of Options. At the sole discretion
of the Committee, any Option may be exercisable, in whole or in part, immediately upon the grant thereof, or only after the occurrence of a specified event, or only in installments, which installments may vary. Options granted under the Plan may
contain such terms and provisions not inconsistent with the Plan that the Committee shall deem advisable in its sole and absolute discretion. 
  
 (b) ISO $100,000 Limitation. To the extent that the aggregate Fair Market Value of Shares with respect to which Options designated as ISOs first
become exercisable by a Participant in any calendar year (under this Plan and any other plan of the Company or any Affiliate) exceeds $100,000, such excess Options shall be treated as Non-ISOs. For purposes of determining whether the $100,000 limit
is exceeded, the Fair Market Value of the Shares subject to an ISO shall be determined as of the Grant Date. In reducing the number of Options treated as ISOs to meet the $100,000 limit, the most recently granted Options shall be reduced first. In
the event that Section 422 of the Code is amended to alter the limitation set forth therein, the limitation of this Section 6(b) shall be automatically adjusted accordingly. 
  

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 (c) Term of Options. Each Award Agreement shall specify a term at the end of which the Option
automatically expires, subject to earlier termination provisions contained in Section 6(h) hereof; provided, that, the term of any Option may not exceed ten years from the Grant Date. In the case of an ISO granted to an Employee who is a Ten Percent
Holder on the Grant Date, the term of the ISO shall not exceed five years from the Grant Date. 
  
 (d) Exercise Price. The exercise price of an Option shall be determined by the Committee in its discretion and shall be set forth in the Award Agreement, provided that (i) if an ISO is granted to an Employee
who on the Grant Date is a Ten Percent Holder, the per Share exercise price shall not be less than 110% of the Fair Market Value per Share on the Grant Date, and (ii) for all other Options, such per Share exercise price shall not be less than 100%
of the Fair Market Value per Share on the Grant Date. 
  
 (e)
Exercise of Option. The Committee shall in its sole discretion determine the times, circumstances, and conditions under which an Option shall be exercisable, and shall set them forth in the Award Agreement. The Committee shall have the
discretion to determine whether and to what extent the vesting of Options shall be tolled during any unpaid leave of absence; provided, however, that in the absence of such determination, vesting of Options shall be tolled during any such leave
approved by the Company. 
  
 (f) Minimum Exercise
Requirements. An Option may not be exercised for a fraction of a Share. The Committee may require in an Award Agreement that an Option be exercised as to a minimum number of Shares, provided that such requirement shall not prevent a Participant
from purchasing the full number of Shares as to which the Option is then exercisable. 
  
 (g) Methods of Exercise. Prior to its expiration pursuant to the terms of the applicable Award Agreement, each Option may be exercised, in whole or in part (provided that the Company shall not be
required to issue fractional shares), by delivery of written notice of exercise to the secretary of the Company accompanied by the full exercise price of the Shares being purchased. In the case of an ISO, the Committee shall determine the acceptable
methods of payment on the Grant Date and it shall be included in the applicable Award Agreement. The methods of payment that the Committee may in its discretion accept or commit to accept in an Award Agreement include: 
  
 (i) cash or check payable to the Company (in U.S. dollars);

  
 (ii) other Shares that (A) are owned by the
Participant who is purchasing Shares pursuant to an Option, (B) have a Fair Market Value on the date of surrender equal to the aggregate exercise price of the Shares as to which the Option is being exercised, (C) were not acquired by such
Participant pursuant to the exercise of an Option, unless such Shares have been owned by such Participant for at least six months or such other period as the Committee may determine, (D) are all, at the time of such surrender, free and clear of any
and all claims, pledges, liens and encumbrances, or any restrictions which would in any manner restrict the transfer of such shares to or by the Company (other than such restrictions as may have existed prior to an issuance of such Shares by the
Company to such Participant), and (E) are duly endorsed for transfer to the Company; 
  
 (iii) a cashless exercise program that the Committee may approve, from time to time in its discretion, pursuant to which a Participant may
concurrently provide irrevocable instructions (A) to such Participant’s broker or dealer to effect the immediate sale of the purchased Shares and remit to the Company, out of the sale proceeds available on the settlement date, sufficient funds
to cover the exercise price of the Option plus all applicable taxes required to be withheld by the Company by reason of such exercise, and (B) to the Company to deliver the certificates for the purchased Shares directly to such broker or dealer in
order to complete the sale; or 
  
 (iv) any
combination of the foregoing methods of payment. 
  
 The Company
shall not be required to deliver Shares pursuant to the exercise of an Option until payment of the full exercise price therefore is received by the Company. 
  

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 (h) Termination of Continuous Service. The Committee may establish and set forth in the applicable
Award Agreement the terms and conditions on which an Option shall remain exercisable, if at all, following termination of a Participant’s Continuous Service. The Committee may waive or modify these provisions at any time. To the extent that a
Participant is not entitled to exercise an Option at the date of his or her termination of Continuous Service, or if the Participant (or other person entitled to exercise the Option) does not exercise the Option to the extent so entitled within the
time specified in the Award Agreement or below (as applicable), the Option shall terminate and the Shares underlying the unexercised portion of the Option shall revert to the Plan and become available for future Awards. In no event may any Option be
exercised after the expiration of the Option term as set forth in the Award Agreement. 
  
 The following provisions shall apply to the extent an Award Agreement does not specify the terms and conditions upon which an Option shall terminate when there is a termination of a Participant’s Continuous
Service: 
  
 (i) Termination other than Upon
Disability or Death or for Cause. In the event of termination of a Participant’s Continuous Service (other than as a result of Participant’s death, disability, retirement or termination for Cause), the Participant shall have the right
to exercise an Option at any time within 90 days following such termination to the extent the Participant was entitled to exercise such Option at the date of such termination. 
  
 (ii) Disability. In the event of termination of a Participant’s Continuous Service as a result
of his or her being Disabled, the Participant shall have the right to exercise an Option at any time within one year following such termination to the extent the Participant was entitled to exercise such Option at the date of such termination.

  
 (iii) Retirement. In the event of
termination of a Participant’s Continuous Service as a result of Participant’s retirement, the Participant shall have the right to exercise the Option at any time within six months following such termination to the extent the Participant
was entitled to exercise such Option at the date of such termination. 
  
 (iv) Death. In the event of the death of a Participant during the period of Continuous Service since the Grant Date of an Option, or within thirty days following termination of the Participant’s Continuous
Service, the Option may be exercised, at any time within one year following the date of the Participant’s death, by the Participant’s estate or by a person who acquired the right to exercise the Option by bequest or inheritance, but only
to the extent the right to exercise the Option had vested at the date of death or, if earlier, the date the Participant’s Continuous Service terminated. 
  

(v) Cause. If the Committee determines that a Participant’s Continuous Service terminated due to Cause, the Participant
shall immediately forfeit the right to exercise any Option, and it shall be considered immediately null and void. 
  
 (i) Reverse Vesting. The Committee in its sole and absolute discretion may allow a Participant to exercise unvested Options, in which case the
Shares then issued shall be Restricted Shares having analogous vesting restrictions to the unvested Options. 
  

	7.	Share Appreciate Rights (SARs) 

  
 (a) Grants. The Committee may in its discretion grant Share Appreciation Rights to any Eligible Person, in any of the following forms: 

 
 (i) SARs related to Options. The Committee may
grant SARs either concurrently with the grant of an Option or with respect to an outstanding Option, in which case the SAR shall extend to all or a portion of the Shares covered by the related Option. An SAR shall entitle the Participant who holds
the related Option, upon exercise of the SAR and surrender of the related Option, or portion thereof, to the extent the SAR and related Option each were previously unexercised, to receive payment of an amount. 
  

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 (ii) determined pursuant to Section 7(e) below. Any SAR granted in connection with an ISO
will contain such terms as may be required to comply with the provisions of Section 422 of the Code and the regulations promulgated thereunder. 
  
 (iii) SARs Independent of Options. The Committee may grant SARs which are independent of any Option subject to such conditions as
the Committee may in its discretion determine, which conditions will be set forth in the applicable Award Agreement. 
  
 (iv) Limited SARs. The Committee may grant SARs exercisable only upon or in respect of a Change in Control or any other specified
event, and such limited SARs may relate to or operate in tandem or combination with or substitution for Options or other SARs, or on a stand-alone basis, and may be payable in cash or Shares based on the spread between the exercise price of the SAR,
and (A) a price based upon or equal to the Fair Market Value of the Shares during a specified period, at a specified time within a specified period before, after or including the date of such event, or (B) a price related to consideration payable to
Company’s shareholders generally in connection with the event. 
  
 (b) Exercise Price. The per Share exercise price of an SAR shall be determined in the sole discretion of the Committee, shall be set forth in the applicable Award Agreement, and shall be no less than 100% of the Fair Market Value of
one Share. The exercise price of an SAR related to an Option shall be the same as the exercise price of the related Option. The exercise price of an SAR shall be subject to the special rules on pricing contained in Sections 6(d) and 6(j) hereof.

  
 (c) Exercise of SARs. Unless the Award Agreement
otherwise provides, an SAR related to an Option will be exercisable at such time or times, and to the extent, that the related Option will be exercisable; provided that the Award Agreement shall not, without the approval of the shareholders of the
Company, provide for a vesting period for the exercise of the SAR that is more favorable to the Participant than the exercise period for the related Option. An SAR may not have a term exceeding ten years from its Grant Date. An SAR granted
independently of any other Award will be exercisable pursuant to the terms of the Award Agreement, but shall not, without the approval of the shareholders of the Company, provide for a vesting period for the exercise of the SAR that is more
favorable to the Participant than the exercise period for the related Option. Whether an SAR is related to an Option or is granted independently, the SAR may only be exercised when the Fair Market Value of the Shares underlying the SAR exceeds the
exercise price of the SAR. 
  
 (d) Effect on Available
Shares. All SARs are to be settled in shares of the Company’s stock and shall be counted in full against the number of shares available for award under the Plan, regardless of the number of exercise gain shares issued upon settlement of the
SARs. 
  
 (e) Payment. Upon exercise of an SAR
related to an Option and the attendant surrender of an exercisable portion of any related Award, the Participant will be entitled to receive payment of an amount determined by multiplying – 
  
 (i) the excess of the Fair Market Value of a Share on the
date of exercise of the SAR over the exercise price per Share of the SAR, by 
  
 (ii) the number of Shares with respect to which the SAR has been exercised. 
  
 Notwithstanding the foregoing, an SAR granted independently of an Option (i) may limit the amount payable to the Participant to a percentage, specified in
the Award Agreement but not exceeding one-hundred percent (100%), of the amount determined pursuant to the preceding sentence, and (ii) shall be subject to any payment or other restrictions that the Committee may at any time impose in its
discretion, including restrictions intended to conform the SARs with Section 409A of the Code. 
  

 6 

 (f) Form and Terms of Payment. Subject to Applicable Law, the Committee may, in its sole
discretion, settle the amount determined under Section 7(e) above solely in cash, solely in Shares (valued at their Fair Market Value on the date of exercise of the SAR), or partly in cash and partly in Shares. In any event, cash shall be paid in
lieu of fractional Shares. Absent a contrary determination by the Committee, all SARs shall be settled in cash as soon as practicable after exercise. Notwithstanding the foregoing, the Committee may, in an Award Agreement, determine the maximum
amount of cash or Shares or combination thereof that may be delivered upon exercise of an SAR. 
  
 (g) Termination of Employment or Consulting Relationship. The Committee shall establish and set forth in the applicable Award Agreement the terms and conditions on which an SAR shall remain exercisable, if at
all, following termination of a Participant’s Continuous Service. The provisions of Section 6(h) above shall apply to the extent an Award Agreement does not specify the terms and conditions upon which an SAR shall terminate when there is a
termination of a Participant’s Continuous Service. 
  

	8.	Restricted Shares, Restricted Share Units, and Unrestricted Shares 

  
 (a) Grants. The Committee may in its discretion grant restricted shares (“Restricted Shares”) to any
Eligible Person and shall evidence such grant in an Award Agreement that is delivered to the Participant and that sets forth the number of Restricted Shares, the purchase price for such Restricted Shares (if any), and the terms upon which the
Restricted Shares may become vested. In addition, the Company may in its discretion grant the right to receive Shares after certain vesting requirements are met (“Restricted Share Units”) to any Eligible Person and shall evidence such
grant in an Award Agreement that is delivered to the Participant which sets forth the number of Shares (or formula, that may be based on future performance or conditions, for determining the number of Shares) that the Participant shall be entitled
to receive upon vesting and the terms upon which the Shares subject to a Restricted Share Unit may become vested. The Committee may condition any Award of Restricted Shares or Restricted Share Units to a Participant on receiving from the Participant
such further assurances and documents as the Committee may require to enforce the restrictions. In addition, the Committee may grant Awards hereunder in the form of unrestricted shares (“Unrestricted Shares”), which shall vest in full upon
the date of grant or such other date as the Committee may determine or which the Committee may issue pursuant to any program under which one or more Eligible Persons (selected by the Committee in its discretion) elect to receive Unrestricted Shares
in lieu of cash bonuses that would otherwise be paid. 
  
 (b)
Vesting and Forfeiture. The Committee shall set forth in an Award Agreement granting Restricted Shares or Restricted Share Units, the terms and conditions under which the Participant’s interest in the Restricted Shares or the Shares
subject to Restricted Share Units will become vested and non-forfeitable. Except as set forth in the applicable Award Agreement or the Committee otherwise determines, upon termination of a Participant’s Continuous Service for any other reason,
the Participant shall forfeit his or her Restricted Shares and Restricted Share Units; provided that if a Participant purchases the Restricted Shares and forfeits them for any reason, the Company shall return the purchase price to the Participant
only if and to the extent set forth in an Award Agreement. 
  
 (c)
Issuance of Restricted Shares Prior to Vesting. The Company shall issue stock certificates that evidence Restricted Shares pending the lapse of applicable restrictions, and that bear a legend making appropriate reference to such restrictions.
Except as set forth in the applicable Award Agreement or the Committee otherwise determines, the Company or a third party that the Company designates shall hold such Restricted Shares and any dividends that accrue with respect to Restricted Shares
pursuant to Section 8(e) below. 
  
 (d) Issuance of Shares upon
Vesting. As soon as practicable after vesting of a Participant’s Restricted Shares (or Shares underlying Restricted Share Units) and the Participant’s satisfaction of applicable tax withholding requirements, the Company shall release
to the Participant, free from the vesting restrictions, one Share for each vested Restricted Share (or issue one Share free of the vesting restriction for each vested Restricted Share Unit), unless an Award Agreement provides otherwise. No
fractional shares shall be distributed, and cash shall be paid in lieu thereof. 
  

 7 

 (e) Dividends Payable on Vesting. Whenever Shares are released to a Participant under
Section 8(d) above pursuant to the vesting of Restricted Shares or the Shares underlying Restricted Share Units are issued to a Participant pursuant to Section 8(d) above, such Participant shall receive (unless otherwise provided in the Award
Agreement), with respect to each Share released or issued, an amount equal to any cash dividends (plus, in the discretion of the Committee, simple interest at a rate as the Committee may determine) and a number of Shares equal to any stock
dividends, which were declared and paid to the holders of Shares between the Grant Date and the date such Share is released or issued. 
  
 (f) Section 83(b) Elections. A Participant may make an election under Section 83(b) of the Code (the “Section 83(b) Election”) with
respect to Restricted Shares. If a Participant who has received Restricted Share Units provides the Committee with written notice of his or her intention to make Section 83(b) Election with respect to the Shares subject to such Restricted Share
Units, the Committee may in its discretion convert the Participant’s Restricted Share Units into Restricted Shares, on a one-for-one basis, in full satisfaction of the Participant’s Restricted Share Unit Award. The Participant may then
make a Section 83(b) Election with respect to those Restricted Shares. Shares with respect to which a Participant makes a Section 83(b) Election shall not be eligible for deferral pursuant to Section 9 below. 
  
 (g) Deferral Elections. At any time within the thirty-day period (or
other shorter or longer period that the Committee selects) in which a Participant who is a member of a select group of management or highly compensated employees (within the meaning of the Code) receives an Award of either Restricted Shares or
Restricted Share Units, the Committee may permit the Participant to irrevocably elect, on a form provided by and acceptable to the Committee, to defer the receipt of all or a percentage of the Shares that would otherwise be transferred to the
Participant upon the vesting of such Award. If the Participant makes this election, the Shares subject to the election, and any associated dividends and interest, shall be credited to an account established pursuant to Section 9 hereof on the date
such Shares would otherwise have been released or issued to the Participant pursuant to Section 8(d) above. 
  

	9.	Deferred Share Units 

  
 (a) Elections to Defer. The Committee may permit any Eligible Person who is a Director, Consultant or member of a select group of management or
highly compensated employees (within the meaning of the Code) to irrevocably elect, on a form provided by and acceptable to the Committee (the “Election Form”), to forego the receipt of cash or other compensation (including the Shares
deliverable pursuant to any Award other than Restricted Shares for which a Section 83(b) Election has been made), and in lieu thereof to have the Company credit to an internal Plan account (the “Account”) a number of deferred share units
(“Deferred Share Units”) having a Fair Market Value equal to the Shares and other compensation deferred. These credits will be made at the end of each calendar month during which compensation is deferred. Each Election Form shall take
effect on the first day of the next calendar year (or on the first day of the next calendar month in the case of an initial election by a Participant who is first eligible to defer hereunder) after its delivery to the Company, subject to Section
8(g) regarding deferral of Restricted Shares and Restricted Share Units and to Section 10(e) regarding deferral of Performance Awards, unless the Company sends the Participant a written notice explaining why the Election Form is invalid within five
business days after the Company receives it. Notwithstanding the foregoing sentence: (i) Election Forms shall be ineffective with respect to any compensation that a Participant earns before the date on which the Company receives the Election Form,
and (ii) the Committee may unilaterally make awards in the form of Deferred Share Units, regardless of whether or not the Participant foregoes other compensation. 
  
 (b) Vesting. Unless an Award Agreement expressly provides otherwise, each Participant shall be 100% vested at all
times in any Shares subject to Deferred Share Units. 
  

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 (c) Issuances of Shares. The Company shall provide a Participant with one Share for each Deferred
Share Unit in five substantially equal annual installments that are issued before the last day of each of the five calendar years that end after the date on which the Participant’s Continuous Service terminates, unless – 

 
 (i) the Participant has properly elected a different form
of distribution, on a form approved by the Committee, that permits the Participant to select any combination of a lump sum and annual installments that are completed within ten years following termination of the Participant’s Continuous
Service, and 
  
 (ii) the Company received the
Participant’s distribution election form at the time the Participant elects to defer the receipt of cash or other compensation pursuant to Section 9(a), provided that such election may be changed through any subsequent election that (i) is
delivered to the Administrator at least one year before the date on which distributions are otherwise scheduled to commence pursuant to the Participant’s election, and (ii) defers the commencement of distributions by at least five years from
the originally scheduled commencement date. 
  
 Fractional shares
shall not be issued, and instead shall be paid out in cash. 
  
 (d) Crediting of Dividends. Whenever Shares are issued to a Participant pursuant to Section 9(c) above, such Participant shall also be entitled to receive, with respect to each Share issued, a cash amount equal to any cash dividends
(plus simple interest at a rate of five percent per annum, or such other reasonable rate as the Committee may determine), and a number of Shares equal to any stock dividends which were declared and paid to the holders of Shares between the Grant
Date and the date such Share is issued. 
  
 (e) Emergency
Withdrawals. In the event a Participant suffers an unforeseeable emergency within the contemplation of this Section and Section 409A of the Code, the Participant may apply to the Company for an immediate distribution of all or a portion of the
Participant’s Deferred Share Units. The unforeseeable emergency must result from a sudden and unexpected illness or accident of the Participant, the Participant’s spouse, or a dependent (within the meaning of Section 152(a) of the Code) of
the Participant, casualty loss of the Participant’s property, or other similar extraordinary and unforeseeable conditions beyond the control of the Participant. Examples of purposes which are not considered unforeseeable emergencies include
post-secondary school expenses or the desire to purchase a residence. In no event will a distribution be made to the extent the unforeseeable emergency could be relieved through reimbursement or compensation by insurance or otherwise, or by
liquidation of the Participant’s nonessential assets to the extent such liquidation would not itself cause a severe financial hardship. The amount of any distribution hereunder shall be limited to the amount necessary to relieve the
Participant’s unforeseeable emergency plus amounts necessary to pay taxes reasonably anticipated as a result of the distribution. The Committee shall determine whether a Participant has a qualifying unforeseeable emergency and the amount which
qualifies for distribution, if any. The Committee may require evidence of the purpose and amount of the need, and may establish such application or other procedures as it deems appropriate. 
  
 (f) Unsecured Rights to Deferred Compensation. A
Participant’s right to Deferred Share Units shall at all times constitute an unsecured promise of the Company to pay benefits as they come due. The right of the Participant or the Participant’s duly-authorized transferee to receive
benefits hereunder shall be solely an unsecured claim against the general assets of the Company. Neither the Participant nor the Participant’s duly-authorized transferee shall have any claim against or rights in any specific assets, shares, or
other funds of the Company. 
  

	10.	Performance Awards 

  
 (a) Performance Units. Subject to the limitations set forth in paragraph (c) hereof, the Committee may in its discretion grant Performance Units to
any Eligible Person and shall evidence such grant in an Award Agreement that is delivered to the Participant which sets forth the terms and conditions of the Award. 
  
 (b) Performance Compensation Awards. Subject to the limitations set forth in paragraph (c) hereof, the Committee may,
at the time of grant of a Performance Unit, designate such Award as a “Performance Compensation Award” in order that such Award constitutes “qualified performance-based compensation” under Code Section 162(m), in which event the
Committee shall have the power to grant such Performance Compensation Award upon terms and conditions that qualify it as “qualified performance-based compensation” within the meaning of Code Section 162(m). With respect to each such
Performance Compensation Award, the Committee shall 
  

 9 

 establish, in writing within the time required under Code Section 162(m), a “Performance Period,”
“Performance Measure(s)”, and “Performance Formula(e)” (each such term being hereinafter defined). 
  
 A Participant shall be eligible to receive payment in respect of a Performance Compensation Award only to the extent that the Performance Measure(s) for
such Award is achieved and the Performance Formula(e) as applied against such Performance Measure(s) determines that all or some portion of such Participant’s Award has been earned for the Performance Period. As soon as practicable after the
close of each Performance Period, the Committee shall review and certify in writing whether, and to what extent, the Performance Measure(s) for the Performance Period have been achieved and, if so, determine and certify in writing the amount of the
Performance Compensation Award to be paid to the Participant and, in so doing, may use negative discretion to decrease, but not increase, the amount of the Award otherwise payable to the Participant based upon such performance. 
  
 (c) Limitations on Awards. The maximum Performance Unit Award and the
maximum Performance Compensation Award that any one Participant may receive for any one Performance Period shall not together exceed 50,000 Shares and $3 million in cash, per calendar year. The Committee shall have the discretion to provide in any
Award Agreement that any amounts earned in excess of these limitations will either be credited as Deferred Share Units, or as deferred cash compensation under a separate plan of the Company (provided in the latter case that such deferred
compensation either bears a reasonable rate of interest or has a value based on one or more predetermined actual investments). Any amounts for which payment to the Participant is deferred pursuant to the preceding sentence shall be paid to the
Participant in a future year or years not earlier than, and only to the extent that, the Participant is either not receiving compensation in excess of these limits for a Performance Period, or is not subject to the restrictions set forth under
Section 162(b) of the Code. 
  
 (d)
Definitions. 
  
 (i)
“Performance Formula” means, for a Performance Period, one or more objective formulas or standards established by the Committee for purposes of determining whether or the extent to which an Award has been earned based on the level of
performance attained or to be attained with respect to one or more Performance Measure(s). Performance Formulae may vary from Performance Period to Performance Period and from Participant to Participant and may be established on a stand-alone basis,
in tandem or in the alternative. 
  
 (ii)
“Performance Measure” means one or more of the following selected by the Committee to measure Company, Affiliate, and/or business unit performance for a Performance Period, whether in absolute or relative terms (including, without
limitation, terms relative to a peer group or index): basic, diluted, or adjusted earnings per share; sales or revenue; earnings before interest, taxes, and other adjustments (in total or on a per share basis); basic or adjusted net income; returns
on equity, assets, capital, revenue or similar measure; economic value added; working capital; credit quality measurements (such as net charge-offs, the ratio of nonperforming assets to total assets, and loan loss allowances as a percentage of
nonperforming assets); total shareholder return; and product development, product market share, research, licensing, litigation, human resources, information services, mergers, acquisitions, sales of assets of Affiliates or business units. Each such
measure shall be, to the extent applicable, determined in accordance with generally accepted accounting principles as consistently applied by the Company (or such other standard applied by the Committee) and, if so determined by the Committee, and
in the case of a Performance Compensation Award, to the extent permitted under Code Section 162(m), adjusted to omit the effects of extraordinary items, gain or loss on the disposal of a business segment, unusual or infrequently occurring events and
transactions and cumulative effects of changes in accounting principles. Performance Measures may vary from Performance Period to Performance Period and from Participant to Participant, and may be established on a stand-alone basis, in tandem or in
the alternative. 
  
 (iii) “Performance
Period” means one or more periods of time (of not less than one fiscal year of the Company), as the Committee may designate, over which the attainment of one or more Performance Measure(s) will be measured for the purpose of determining a
Participant’s rights in respect of an Award. 
  

 10 

 (e) Deferral Elections. At any time prior to the date that is at least six months before the close
of a Performance Period (or shorter or longer period that the Committee selects) with respect to an Award of either Performance Units or Performance Compensation, the Committee may permit a Participant who is a member of a select group of management
or highly compensated employees (within the meaning of the Code) to irrevocably elect, on a form provided by and acceptable to the Committee, to defer the receipt of all or a percentage of the cash or Shares that would otherwise be transferred to
the Participant upon the vesting of such Award. If the Participant makes this election, the cash or Shares subject to the election, and any associated interest and dividends, shall be credited to an account established pursuant to Section 9 hereof
on the date such cash or Shares would otherwise have been released or issued to the Participant pursuant to Section 10(a) or Section 10(b) above. 
  

	11.	Taxes 

  
 (a) General. As a condition to the issuance or distribution of Shares pursuant to the Plan, the Participant (or in the case of the
Participant’s death, the person who succeeds to the Participant’s rights) shall make such arrangements as the Company may require for the satisfaction of any applicable federal, state, local or foreign withholding tax obligations that may
arise in connection with the Award and the issuance of Shares. The Company shall not be required to issue any Shares until such obligations are satisfied. If the Committee allows the withholding or surrender of Shares to satisfy a Participant’s
tax withholding obligations, the Committee shall not allow Shares to be withheld in an amount that exceeds the minimum statutory withholding rates for federal and state tax purposes, including payroll taxes. 
  
 (b) Default Rule for Employees. In the absence of any other
arrangement, an Employee shall be deemed to have directed the Company to withhold or collect from his or her cash compensation an amount sufficient to satisfy such tax obligations from the next payroll payment otherwise payable after the date of the
exercise of an Award. 
  
 (c) Special Rules. In the case of
a Participant other than an Employee (or in the case of an Employee where the next payroll payment is not sufficient to satisfy such tax obligations, with respect to any remaining tax obligations), in the absence of any other arrangement and to the
extent permitted under Applicable Law, the Participant shall be deemed to have elected to have the Company withhold from the Shares or cash to be issued pursuant to an Award that number of Shares having a Fair Market Value determined as of the
applicable Tax Date (as defined below) or cash equal to the amount required to be withheld. For purposes of this Section 11, the Fair Market Value of the Shares to be withheld shall be determined on the date that the amount of tax to be withheld is
to be determined under the Applicable Law (the “Tax Date”). 
  
 (d) Surrender of Shares. If permitted by the Committee, in its discretion, a Participant may satisfy the minimum applicable tax withholding and employment tax obligations associated with an Award by surrendering Shares to the Company
(including Shares that would otherwise be issued pursuant to the Award) that have a Fair Market Value determined as of the applicable Tax Date equal to the amount required to be withheld. In the case of Shares previously acquired from the Company
that are surrendered under this Section 11, such Shares must have been owned by the Participant for more than six months on the date of surrender (or such longer period of time the Company may in its discretion require). 
  
 (e) Income Taxes and Deferred Compensation. Participants are solely
responsible and liable for the satisfaction of all taxes and penalties that may arise in connection with Awards (including any taxes arising under Section 409A of the Code), and the Company shall not have any obligation to indemnify or otherwise
hold any Participant harmless from any or all of such taxes. The Administrator shall have the discretion to organize any deferral program, to require deferral election forms, and to grant or to unilaterally modify any Award in a manner that (i)
conforms with the requirements of Section 409A of the Code with respect to compensation that is deferred and that vests after December 31, 2004, (ii) that voids any Participant election to the extent it would violate Section 409A of the Code, and
(iii) for any distribution election that would violate Section 409A of the Code, to make distributions pursuant to the Award at the earliest to occur of a distribution event that is allowable under Section 409A of the Code or any distribution event
that is both allowable under Section 409A of the Code and is elected by the Participant, subject to any valid second election to defer, provided that the Administrator permits second 

  

 11 

 
elections to defer in accordance with Section 409A(a)(4)(C). The Administrator shall have the sole discretion to interpret the requirements of the Code,
including Section 409A, for purposes of the Plan and all Awards. 
  

	12.	Non-Transferability of Awards 

  
 (a) General. Except as set forth in this Section 12, or as otherwise approved by the Committee, Awards may not be sold, pledged, assigned,
hypothecated, transferred or disposed of in any manner other than by will or by the laws of descent or distribution. The designation of a beneficiary by a Participant will not constitute a transfer. An Award may be exercised, during the lifetime of
the holder of an Award, only by such holder, the duly-authorized legal representative of a Participant who is Disabled, or a transferee permitted by this Section 12. 
  
 (b) Limited Transferability Rights. Notwithstanding anything else in this Section 12, the Committee may in its
discretion provide in an Award Agreement that an Award other than an ISO may be transferred, on such terms and conditions as the Committee deems appropriate, either (i) by instrument to the Participant’s “Immediate Family” (as defined
below), (ii) by instrument to an inter vivos or testamentary trust (or other entity) in which the Award is to be passed to the Participant’s designated beneficiaries, or (iii) by gift to charitable institutions. Any transferee of the
Participant’s rights shall succeed and be subject to all of the terms of this Award Agreement and the Plan. “Immediate Family” means any child, stepchild, grandchild, parent, stepparent, grandparent, spouse, former spouse, sibling,
niece, nephew, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law, or sister-in-law, and shall include adoptive relationships. 
  

	13.	Adjustments Upon Changes in Capitalization, Merger or Certain Other Transactions 

  
 (a) Changes in Capitalization. The Committee shall equitably adjust the number of Shares covered by each outstanding
Award, and the number of Shares that have been authorized for issuance under the Plan but as to which no Awards have yet been granted or that have been returned to the Plan upon cancellation, forfeiture, or expiration of an Award, as well as the
price per Share covered by each such outstanding Award, to reflect any increase or decrease in the number of issued Shares resulting from a stock-split, reverse stock-split, stock dividend, combination, recapitalization or reclassification of the
Shares, or any other increase or decrease in the number of issued Shares effected without receipt of consideration by the Company. In the event of any such transaction or event, the Committee may provide in substitution for any or all outstanding
Options under the Plan such alternative consideration (including securities of any surviving entity) as it may in good faith determine to be equitable under the circumstances and may require in connection therewith the surrender of all Options so
replaced. In any case, such substitution of securities shall not require the consent of any person who is granted Options pursuant to the Plan. Except as expressly provided herein, or in an Award Agreement, if the Company issues for consideration
shares of stock of any class or securities convertible into shares of stock of any class, the issuance shall not affect, and no adjustment by reason thereof shall be required to be made with respect to the number or price of Shares subject to any
award. 
  
 (b) Dissolution or Liquidation. In the event of
the dissolution or liquidation of the Company other than as part of a Change of Control, each Award will terminate immediately prior to the consummation of such action, subject to the ability of the Committee to exercise any discretion authorized in
the case of a Change in Control. 
  
 (c) Change in Control.
In the event of a Change in Control, the Committee may in its sole and absolute discretion and authority, without obtaining the approval or consent of the Company’s shareholders or any Participant with respect to his or her outstanding Awards,
take one or more of the following actions:arrange for or otherwise provide that each outstanding Award shall be assumed or a substantially similar award shall be substituted by a successor corporation or a parent or subsidiary of such successor
corporation (the “Successor Corporation”); 
  
 (i) accelerate the vesting of Awards so that Awards shall vest (and, to the extent applicable, become exercisable) as to the Shares that otherwise would have been unvested and provide that repurchase rights of the Company with respect to
Shares issued upon exercise of an Award shall lapse as to the Shares subject to such repurchase right; 
  

 12 

 (ii) arrange or otherwise provide for the payment of cash or other consideration to
Participants in exchange for the satisfaction and cancellation of outstanding Awards; or 
  
 (iii) make such other modifications, adjustments or amendments to outstanding Awards or this Plan as the Committee deems necessary or
appropriate, subject however to the terms of Section 15(a) below. 
  
 Notwithstanding the above, in the event a Participant holding an Award assumed or substituted by the Successor Corporation in a Change in Control is Involuntarily Terminated by the Successor Corporation in connection with, or within 12
months following consummation of, the Change in Control, then any assumed or substituted Award held by the terminated Participant at the time of termination shall accelerate and become fully vested (and exercisable in full in the case of Options and
SARs), and any repurchase right applicable to any Shares shall lapse in full, unless an Award Agreement provides for a more restrictive acceleration or vesting schedule or more restrictive limitations on the lapse of repurchase rights or otherwise
places additional restrictions, limitations and conditions on an Award. The acceleration of vesting and lapse of repurchase rights provided for in the previous sentence shall occur immediately prior to the effective date of the Participant’s
termination, unless an Award Agreement provides otherwise. 
  
 (d)
Certain Distributions. In the event of any distribution to the Company’s shareholders of securities of any other entity or other assets (other than dividends payable in cash or stock of the Company) without receipt of consideration by
the Company, the Committee may, in its discretion, appropriately adjust the price per Share covered by each outstanding Award to reflect the effect of such distribution. 
  

	14.	Time of Granting Awards. 

  
 The date of grant (“Grant Date”) of an Award shall be the date on which the Committee makes the determination granting such Award or such other
date as is determined by the Committee, provided that in the case of an ISO, the Grant Date shall be the later of the date on which the Committee makes the determination granting such ISO or the date of commencement of the Participant’s
employment relationship with the Company. 
  

	15.	Modification of Awards and Substitution of Options.  

  
 (a) Modification, Extension, and Renewal of Awards. Within the limitations of the Plan, the Committee may modify an Award to accelerate the rate at
which an Option or SAR may be exercised (including without limitation permitting an Option or SAR to be exercised in full without regard to the installment or vesting provisions of the applicable Award Agreement or whether the Option or SAR is at
the time exercisable, to the extent it has not previously been exercised), to accelerate the vesting of any Award, to extend or renew outstanding Awards or to accept the cancellation of outstanding Awards to the extent not previously exercised.
However, the Committee may not cancel an outstanding option that is underwater for the purpose of reissuing the option to the participant at a lower exercise price or granting a replacement award of a different type. Notwithstanding the foregoing
provision, no modification of an outstanding Award shall materially and adversely affect such Participant’s rights thereunder, unless either the Participant provides written consent or there is an express Plan provision permitting the Committee
to act unilaterally to make the modification. 
  
 (b) Substitution of Options. Notwithstanding any inconsistent provisions or limits under the Plan, in the event the Company or an Affiliate acquires (whether by purchase, merger or otherwise) all or substantially all of
outstanding capital stock or assets of another corporation or in the event of any reorganization or other transaction qualifying under Section 424 of the Code, the Committee may, in accordance with the provisions of that Section, substitute Options
for options under the plan of the acquired company provided (i) the excess of the aggregate fair market value of the shares subject to an option immediately after the substitution over the aggregate option price of such shares is not more than the
similar excess immediately before such substitution and (ii) the new option does not give persons additional benefits, including any extension of the exercise period. 
  

 13 

	16.	Term of Plan. 

  
 The Plan shall continue in effect for a term of ten (10) years from its effective date as determined under Section 20 below, unless the Plan is sooner
terminated under Section 17 below. 
  

	17.	Amendment and Termination of the Plan. 

  
 (a) Authority to Amend or Terminate. Subject to Applicable Laws, the Board may from time to time amend, alter, suspend, discontinue, or terminate
the Plan. 
  
 (b) Effect of Amendment or Termination. No
amendment, suspension, or termination of the Plan shall materially and adversely affect Awards already granted unless either it relates to an adjustment pursuant to Section 13 above, or it is otherwise mutually agreed between the Participant and the
Committee, which agreement must be in writing and signed by the Participant and the Company. Notwithstanding the foregoing, the Committee may amend the Plan to eliminate provisions which are no longer necessary as a result of changes in tax or
securities laws or regulations, or in the interpretation thereof. 
  

	18.	Conditions Upon Issuance of Shares. 

  
 Notwithstanding any other provision of the Plan or any agreement entered into by the Company pursuant to the Plan, the Company shall not be obligated, and
shall have no liability for failure, to issue or deliver any Shares under the Plan unless such issuance or delivery would comply with Applicable Law, with such compliance determined by the Company in consultation with its legal counsel. 

 

	19.	Reservation of Shares. 

  
 The Company, during the term of this Plan, will at all times reserve and keep available such number of Shares as shall be sufficient to satisfy the
requirements of the Plan. Neither the Company nor the Committee shall, without shareholder approval, allow for a repricing within the meaning of the federal securities laws applicable to proxy statement disclosures. 
  

	20.	Effective Date. 

  
 This Plan shall become effective on the date of its approval by the Board; provided that this Plan shall be submitted to the Company’s shareholders
for approval, and if not approved by the shareholders in accordance with Applicable Laws (as determined by the Committee in its discretion) within one year from the date of approval by the Board, this Plan and any Awards shall be null, void, and of
no force and effect. Awards granted under this Plan before approval of this Plan by the shareholders shall be granted subject to such approval, and no Shares shall be distributed before such approval. 
  

	21.	Controlling Law. 

  
 All disputes relating to or arising from the Plan shall be governed by the internal substantive laws (and not the laws of conflicts of laws) of the State
of Louisiana, to the extent not preempted by United States federal law. If any provision of this Plan is held by a court of competent jurisdiction to be invalid and unenforceable, the remaining provisions shall continue to be fully effective.

  

	22.	Laws And Regulations. 

  
 (a) U.S. Securities Laws. This Plan, the grant of Awards, and the exercise of Options and SARs under this Plan, and the obligation of the Company
to sell or deliver any of its securities (including, without limitation, Options, Restricted Shares, Restricted Share Units, Deferred Share Units, and Shares) under this Plan shall be subject to all Applicable Law. In the event that the Shares are
not registered under the Securities Act of 1933, as amended (the “Act”), or any applicable state securities laws prior to the delivery of such Shares, the Company may 

  

 14 

 
require, as a condition to the issuance thereof, that the persons to whom Shares are to be issued represent and warrant in writing to the Company that such
Shares are being acquired by him or her for investment for his or her own account and not with a view to, for resale in connection with, or with an intent of participating directly or indirectly in, any distribution of such Shares within the meaning
of the Act, and a legend to that effect may be placed on the certificates representing the Shares. 
  
 (b) Other Jurisdictions. To facilitate the making of any grant of an Award under this Plan, the Committee may provide for such special terms for
Awards to Participants who are foreign nationals or who are employed by the Company or any Affiliate outside of the United States of America as the Committee may consider necessary or appropriate to accommodate differences in local law, tax policy
or custom. The Company may adopt rules and procedures relating to the operation and administration of this Plan to accommodate the specific requirements of local laws and procedures of particular countries. Without limiting the foregoing, the
Company is specifically authorized to adopt rules and procedures regarding the conversion of local currency, taxes, withholding procedures and handling of stock certificates which vary with the customs and requirements of particular countries. The
Company may adopt sub-plans and establish escrow accounts and trusts as may be appropriate or applicable to particular locations and countries. 
  
 23. No Shareholder Rights. Neither a Participant nor any transferee of a Participant shall have any rights as a shareholder of the Company with
respect to any Shares underlying any Award until the date of issuance of a share certificate to a Participant or a transferee of a Participant for such Shares in accordance with the Company’s governing instruments and Applicable Law. Prior to
the issuance of Shares pursuant to an Award, a Participant shall not have the right to vote or to receive dividends or any other rights as a shareholder with respect to the Shares underlying the Award, notwithstanding its exercise in the case of
Options and SARs. No adjustment will be made for a dividend or other right that is determined based on a record date prior to the date the stock certificate is issued, except as otherwise specifically provided for in this Plan. 
  
 24. No Employment Rights. The Plan shall not confer upon any Participant
any right to continue an employment, service or consulting relationship with the Company, nor shall it affect in any way a Participant’s right or the Company’s right to terminate the Participant’s employment, service, or consulting
relationship at any time, with or without Cause. 
  

 15 

  
 IBERIABANK Corporation

 2005 STOCK INCENTIVE PLAN 
 Appendix A: Definitions 
  

  
 As used in the Plan, the following definitions shall apply: 
  
 “Affiliate” means, with respect to any Person (as defined below), any other Person that directly or indirectly
controls or is controlled by or under common control with such Person. For the purposes of this definition, “control,” when used with respect to any Person, means the possession, direct or indirect, of the power to direct or cause the
direction of the management and policies of such Person or the power to elect directors, whether through the ownership of voting securities, by contract or otherwise; and the terms “affiliated,” “controlling” and
“controlled” have meanings correlative to the foregoing. 
  
 “Applicable Law” means the legal requirements relating to the administration of options and share-based plans under applicable U.S. federal and state laws, the Code, any applicable stock exchange or automated
quotation system rules or regulations, and the applicable laws of any other country or jurisdiction where Awards are granted, as such laws, rules, regulations and requirements shall be in place from time to time. 
  
 “Award” means any award made pursuant to the Plan, including awards
made in the form of an Option, an SAR, a Restricted Share, a Restricted Share Unit, an Unrestricted Share, a Deferred Share Unit and a Performance Award, or any combination thereof, whether alternative or cumulative, authorized by and granted under
this Plan. 
  
 “Award Agreement” means any written
document setting forth the terms of an Award that has been authorized by the Committee. The Committee shall determine the form or forms of documents to be used, and may change them from time to time for any reason. 
  
 “Board” means the Board of Directors of the Company. 
  
 “Cause” for termination of a Participant’s Continuous Service
will exist if the Participant is terminated from employment or other service with the Company or an Affiliate for any of the following reasons: (i) the Participant’s willful failure to substantially perform his or her duties and
responsibilities to the Company or deliberate violation of a material Company policy; (ii) the Participant’s commission of any material act or acts of fraud, embezzlement, dishonesty, or other willful misconduct; (iii) the Participant’s
material unauthorized use or disclosure of any proprietary information or trade secrets of the Company or any other party to whom the Participant owes an obligation of nondisclosure as a result of his or her relationship with the Company; or (iv)
Participant’s willful and material breach of any of his or her obligations under any written agreement or covenant with the Company. 
  
 The Committee shall in its discretion determine whether or not a Participant is being terminated for Cause. The Committee’s determination shall, unless arbitrary and
capricious, be final and binding on the Participant, the Company, and all other affected persons. The foregoing definition does not in any way limit the Company’s ability to terminate a Participant’s employment or consulting relationship
at any time, and the term “Company” will be interpreted herein to include any Affiliate or successor thereto, if appropriate. 
  
 “Change in Control” means any of the following: 
  
 (I) any Person is or becomes the Beneficial Owner, directly or indirectly, of securities of the Company representing 50% or more of the combined voting
power of the Company’s then outstanding securities, excluding any Person who becomes such a Beneficial Owner in connection with a transaction described in paragraph (III)(B) below; 
  

 16 

 (II) the following individuals cease for any reason to constitute a majority of the number of directors
then serving: individuals who, on the date hereof, constitute the Board and any new director (other than a director whose initial assumption of office is in connection with an actual or threatened election contest, including but not limited to a
consent solicitation, relating to the election of directors of the Company) whose appointment or election by the Board or nomination for election by the Company’s shareholders was approved or recommended by the affirmative vote of a majority of
the directors then still in office who either were directors on the date hereof or whose appointment, election or nomination for election was previously so approved or recommended (“Continuing Directors”); 
  
 (III) there is consummated a merger or consolidation of the Company or any
direct or indirect subsidiary of the Company with any other corporation, other than a merger or consolidation in which (A) the Company’s shareholders receive or retain voting common stock in the Company or the surviving or resulting corporation
in such transaction on the same pro rata basis as their relative percentage ownership of Company common stock immediately preceding such transaction and a majority of the entire Board of the Company are or continue to be Continuing Directors
following such transaction, or (B) the Company’s shareholders receive voting common stock in the corporation which becomes the public parent of the Company or its successor in such transaction on the same pro rata basis as their relative
percentage ownership of Company common stock immediately preceding such transaction and a majority of the entire Board of such parent corporation are Continuing Directors immediately following such transaction; 
  
 (IV) the sale of any one or more Company subsidiaries, businesses or assets
not in the ordinary course of business and pursuant to a shareholder approved plan for the complete liquidation or dissolution of the Company; or 
  
 (V) there is consummated any sale of assets, businesses or subsidiaries of the Company which, at the time of the consummation of the sale, (x) together
represent 50% or more of the total book value of the Company’s assets on a consolidated basis or (y) generated 50% or more of the Company’s pre-tax income on a consolidated basis in either of the two fully completed fiscal years of the
Company immediately preceding the year in which the Change in Control occurs; provided, however, that, in either case, any such sale shall not constitute a Change in Control if such sale constitutes a Rule 13e-3 transaction and at least 60% of the
combined voting power of the voting securities of the purchasing entity are owned by shareholders of the Company in substantially the same proportions as their ownership of the Company immediately prior to such sale. 
  
 Notwithstanding the foregoing, a “Change in Control” shall not be
deemed to have occurred by virtue of the consummation of any transaction or series of integrated transactions immediately following which the record holders of the common stock of the Company immediately prior to such transaction or series of
transactions continue to have substantially the same proportionate ownership in an entity which owns all or substantially all of the assets of the Company immediately following such transaction or series of transactions. 
  
 “Code” means the U.S. Internal Revenue Code of 1986, as amended.

  
 “Committee” means one or more committees or
subcommittees of the Board appointed by the Board to administer the Plan in accordance with Section 4 above. With respect to any decision involving an Award intended to satisfy the requirements of Section 162(m) of the Code, the Committee shall
consist of two or more Directors of the Company who are “outside directors” within the meaning of Section 162(m) of the Code. With respect to any decision relating to a Reporting Person, the Committee shall consist of two or more Directors
who are disinterested within the meaning of Rule 16b-3. 
  
 “Company” means IBERIABANK Corporation, a Louisiana corporation; provided, however, that in the event the Company reincorporates to another jurisdiction, all references to the term “Company” shall refer to
the Company in such new jurisdiction. 
  

 17 

 “Consultant” means any person, including an advisor, who is engaged by the Company or any
Affiliate to render services and is compensated for such services. 
  
 “Continuous Service” means the absence of any interruption or termination of service as an Employee, Director, or Consultant. Continuous Service shall not be considered interrupted in the case of: (i) sick leave;
(ii) military leave; (iii) any other leave of absence approved by the Committee, provided that such leave is for a period of not more than 90 days, unless reemployment upon the expiration of such leave is guaranteed by contract or statute, or unless
provided otherwise pursuant to Company policy adopted from time to time; (iv) changes in status from Director to advisory director or emeritus status; or (iv) in the case of transfers between locations of the Company or between the Company, its
Affiliates or their respective successors. Changes in status between service as an Employee, Director, and a Consultant will not constitute an interruption of Continuous Service. 
  
 “Deferred Share Units” mean Awards pursuant to Section 9 of the Plan. 
  
 “Director” means a member of the Board, or a member of the board of
directors of an Affiliate. 
  
 “Disabled” means a
condition under which a Participant - 
  
 (a) is unable to engage in any
substantial gainful activity by reason of any medically determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than 12 months, or 
  
 (b) is, by reason of any medically determinable physical or mental impairment which can be
expected to result in death or can be expected to last for a continuous period of not less than 12 months, received income replacement benefits for a period of not less than 3 months under an accident or health plan covering employees of the
Company. 
  
 “Eligible Person” means any Consultant,
Director or Employee and includes non-Employees to whom an offer of employment has been extended. 
  
 “Employee” means any person whom the Company or any Affiliate classifies as an employee (including an officer) for employment tax purposes. The payment by the Company of a director’s fee
to a Director shall not be sufficient to constitute “employment” of such Director by the Company. 
  
 “Exchange Act” means the Securities Exchange Act of 1934, as amended. 
  
 “Fair Market Value” means, as of any date (the “Determination Date”) means: (i) the closing price of a Share on the New York Stock
Exchange or the American Stock Exchange (collectively, the “Exchange”), on the Determination Date, or, if shares were not traded on the Determination Date, then on the nearest preceding trading day during which a sale occurred; or (ii) if
such stock is not traded on the Exchange but is quoted on NASDAQ or a successor quotation system, (A) the last sales price (if the stock is then listed as a National Market Issue under The Nasdaq National Market System) or (B) the mean between the
closing representative bid and asked prices (in all other cases) for the stock on the Determination Date as reported by NASDAQ or such successor quotation system; or (iii) if such stock is not traded on the Exchange or quoted on NASDAQ but is
otherwise traded in the over-the-counter, the mean between the representative bid and asked prices on the Determination Date; or (iv) if subsections (i)-(iii) do not apply, the fair market value established in good faith by the Board. 
  
 “Grant Date” has the meaning set forth in Section 14 of the Plan.

  
 “Incentive Share Option or ISO” hereinafter means an
Option intended to qualify as an incentive stock option within the meaning of Section 422 of the Code, as designated in the applicable Award Agreement. 
  
 “Involuntary Termination” means termination of a Participant’s Continuous Service under the following circumstances occurring on or after a
Change in Control: (i) termination without Cause by the Company or an Affiliate or successor thereto, as appropriate; or (ii) voluntary termination by the Participant within 60 

  

 18 

 
days following (A) a material reduction in the Participant’s job responsibilities, provided that neither a mere change in title alone nor reassignment
to a substantially similar position shall constitute a material reduction in job responsibilities; (B) an involuntary relocation of the Participant’s work site to a facility or location more than 50 miles from the Participant’s principal
work site at the time of the Change in Control; or (C) a material reduction in Participant’s total compensation other than as part of an reduction by the same percentage amount in the compensation of all other similarly-situated Employees,
Directors or Consultants. 
  
 “Non-ISO” means an Option
not intended to qualify as an ISO, as designated in the applicable Award Agreement. 
  
 “Option” means any stock option granted pursuant to Section 6 of the Plan. 
  
 “Participant” means any holder of one or more Awards, or the Shares issuable or issued upon exercise of such Awards, under the Plan. 
  
 “Performance Awards” mean Performance Units and Performance
Compensation Awards granted pursuant to Section 10. 
  
 “Performance
Compensation Awards” mean Awards granted pursuant to Section 10(b) of the Plan. 
  
 “Performance Unit” means Awards granted pursuant to Section 10(a) of the Plan which may be paid in cash, in Shares, or such combination of cash and Shares as the Committee in its sole
discretion shall determine. 
  
 “Person” means any natural
person, association, trust, business trust, cooperative, corporation, general partnership, joint venture, joint-stock company, limited partnership, limited liability company, real estate investment trust, regulatory body, governmental agency or
instrumentality, unincorporated organization or organizational entity. 
  
 “Plan” means this IBERIABANK Corporation 2005 Stock Incentive Plan. 
  
 “Reporting Person” means an officer, Director, or greater than ten percent shareholder of the Company within the meaning of Rule 16a-2 under the Exchange Act, who is required to file reports
pursuant to Rule 16a-3 under the Exchange Act. 
  
 “Restricted
Shares” mean Shares subject to restrictions imposed pursuant to Section 8 of the Plan. 
  
 “Restricted Share Units” mean Awards pursuant to Section 8 of the Plan. 
  
 “Rule 16b-3” means Rule 16b-3 promulgated under the Exchange Act, as amended from time to time, or any successor provision. 
  
 “SAR” or “Share Appreciation Right” means Awards granted
pursuant to Section 7 of the Plan. 
  
 “Share” means a
share of common stock of the Company, as adjusted in accordance with Section 13 of the Plan. 
  
 “Ten Percent Holder” means a person who owns stock representing more than ten percent (10%) of the combined voting power of all classes of stock of the Company or any Affiliate. 
  
 “Unrestricted Shares” mean Shares awarded pursuant to Section 8 of
the Plan. 
  

 19

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