Document:

Exhibit 10.9

 

BLACK RAVEN ENERGY, INC.

 

EQUITY COMPENSATION PLAN

FORM OF RESTRICTED STOCK AWARD AGREEMENT

 

	
  Name
  of Participant:

  	
   

  	
   

  	
   

  	
   

  
	
  No. of
  Shares:  

  	
   

  	
  Date of Grant:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Shares
  Vested:

  	
   

  	
  Date:

  	
   

  	
  Performance
  Measure:

  
	
   

  	
   

  	
   

  	
   

  	
   

  

 

A.                                   Black Raven
Energy, Inc. (the “Company”) wishes to give you an added incentive to
continue in the long-term service of the Company and to create in you a more
direct interest in the future success of the operations of the Company by
granting you restricted shares of the Company’s common stock (the “Common Stock”),
pursuant to the provisions of the Company’s Equity Compensation Plan (the “Plan”).

 

B.                                     The Company and
you desire to set forth the terms and conditions of such grant.

 

NOW THEREFORE, pursuant to
the terms of this Restricted Stock Award Agreement (this “Agreement”), the
Company grants you the number of shares of Common Stock (the “Shares” or the “Award”)
indicated above.  Capitalized terms not
explicitly defined in this Agreement but defined in the Plan shall have the
same definitions as in the Plan or the Grant Notice, respectively.

 

The details of your Award
are as follows:

 

1.                                       Grant of Restricted Stock.  Subject to the terms and conditions of this
Agreement, in consideration of your services to the Company, you hereby agree
to acquire from the Company, and the Company hereby agrees to grant to you, the
aggregate number of Shares specified above.

 

2.                                       Closing/Escrow of Unvested Shares.  As security for
your faithful performance of the terms of this Agreement and to insure the
availability for delivery of your Shares upon forfeiture herein provided for,
you agree to deliver the duly issued stock certificate(s) evidencing the
Shares registered in your name to the Secretary of the Company or the Secretary’s
designee (“Escrow Agent”), as Escrow Agent for the shares, pursuant to the
terms of the Plan.

 

 

3.                                       Normal Vesting.  Subject to the limitations contained herein,
the Shares you receive hereunder will vest as provided in the above table upon
performance of the relevant performance measure, provided that at the relevant
vesting date you remain continuously employed by the Company.

 

4.                                       Accelerated Vesting Upon Death, Disability or Retirement.  Notwithstanding Section 3
hereof, in the event your continuous employment with the Company terminates due
to your Disability or death, all forfeiture risk imposed on the Shares
hereunder shall lapse and all Shares subject to this Award shall immediately
become fully vested and nonforfeitable.

 

5.                                       Accelerated Vesting Upon Change of Control.  Notwithstanding Section 3
hereof, the Shares shall vest immediately upon a Change of Control (as defined
in the Plan) if you have been continuously employed by the Company through the
date immediately prior to the occurrence of a Change of Control.

 

6.                                       Issuance of Unrestricted Shares.  Upon the vesting of
any Shares, such vested Shares will no longer be subject to forfeiture as
provided in Section 7 hereof, but will continue to be subject to any other
provisions of this Agreement. As soon as practicable after vesting of any
Shares, the Company shall deliver to you certificates issued in your name for
the number of Shares that have vested.

 

7.                                       Forfeiture.  Except as otherwise determined by the
Committee, if your employment with the Company is terminated for any reason
other than Disability or death as stated in Section 4 hereof or you fail
to meet the specified performance measure as of the relevant vesting date, then
any Shares that have not previously vested shall be forfeited by you to the
Company, you shall thereafter have no right, title or interest whatsoever in
such Shares, and, if applicable, you shall immediately return to the Company
any and all certificates representing such Shares so forfeited then in your
possession. Additionally, you will execute and deliver to the Company any and
all documentation necessary to evidence the forfeiture of such Shares and the
transfer thereof to the Company. The Company will be authorized to cancel any
and all certificates representing such Shares so forfeited and issue and
deliver to you a new certificate for any Shares which vested prior to
forfeiture, if any.

 

8.                                       Rights as Stockholder.  Subject to the provisions of this Agreement,
you shall exercise all rights and privileges of a stockholder of the Company
with respect to the Shares deposited in escrow. 
You shall be deemed to be the holder of the Shares for purposes of
receiving any dividends that may be paid with respect to such Shares and for
purposes of exercising any voting, liquidation or other rights relating to such
Shares, even if some or all of the Shares have not yet vested and been released
from the risk of forfeiture.

 

9.                                       Limitations on Transfer.  In addition to any other limitation on
transfer created by applicable securities laws, you shall not sell, assign,
hypothecate, donate, encumber or otherwise dispose of any interest in the
Shares while the Shares are subject to the risk of forfeiture.  After any Shares have been fully vested and
nonforfeitable, you shall not sell, assign, hypothecate, donate, encumber or
otherwise dispose of any interest in the Shares except in compliance with the
provisions herein and applicable securities laws.

 

2

 

10.                                 Restrictive Legend.  All certificates representing the unvested
Shares shall have endorsed thereon a legend in substantially the following form
(in addition to any other legend which may be required by other agreements
between the parties hereto):

 

“THE
SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO RISK OF FORFEITURE SET
FORTH IN AN AGREEMENT BETWEEN THE COMPANY AND THE REGISTERED HOLDER, OR SUCH
HOLDER’S PREDECESSOR IN INTEREST, A COPY OF WHICH IS ON FILE AT THE PRINCIPAL
OFFICE OF THIS COMPANY.  ANY TRANSFER OR
ATTEMPTED TRANSFER OF ANY SHARES SUBJECT TO SUCH RISK OF FORFEITURE IS VOID
WITHOUT THE PRIOR EXPRESS WRITTEN CONSENT OF THE COMPANY.”

 

11.                                 Transferability.  Your Award is not transferable except by will
or by the laws of descent and distribution and shall be exercisable during your
lifetime only by you.

 

12.                                 Award Not a Service Contract.  Your Award is not an employment or service
contract, and nothing in your Award shall be deemed to create in any way
whatsoever any obligation on your part to continue in the employ of the
Company, or of the Company to continue your employment.  In addition, nothing in your Award shall
obligate the Company or an Affiliated Corporation, their respective
stockholders, Boards of Directors, Officers or Employees to continue any relationship
that you might have as a Director or Consultant for the Company or an
Affiliated Corporation.

 

13.                                 Tax Consequences.
You understand
that unless a proper and timely Section 83(b) election has been made
as further described below, generally under Section 83 of the Code, at the
time the Shares vest, you will recognize ordinary income equal to the fair
market value of the Shares then vesting. 
You are solely responsible for tax obligations that arise as a result of
the vesting or sale of the Shares.  When
you recognize income upon vesting of the Shares, or upon filing a Section 83(b) election
as described below, the Company shall have the right to require the payment
(through withholding from the Recipient’s salary or otherwise) of any federal,
state, local or foreign taxes based on the fair market value of the Shares then
vesting (or, in the case of an election under Section 83(b), as of the
date of issuance).YOU
ACKNOWLEDGE THAT IT IS YOUR RESPONSIBILITY, AND NOT THE COMPANY’S, TO FILE A
TIMELY ELECTION UNDER CODE SECTION 83(B), EVEN IF YOU REQUEST THE COMPANY
TO MAKE THE FILING ON YOUR BEHALF.

 

14.

 

15.                                 Notices.  Any notices provided for in your Award or the
Plan shall be given in writing and shall be deemed effectively given upon
receipt or, in the case of notices delivered by mail by the Company to you,
five (5) days after deposit in the United States mail, postage prepaid,
addressed to you at the last address you provided to the Company.

 

16.                                 Miscellaneous.

 

(a)                                  The rights and obligations of the Company under your Award
shall be transferable to any one or more persons or entities, and all covenants
and agreements hereunder 

 

3

 

shall
inure to the benefit of, and be enforceable by the Company’s successors and
assigns. Your rights and obligations under your Award may only be assigned with
the prior written consent of the Company.

 

(b)                                 You agree upon request to execute any further documents or
instruments necessary or desirable in the sole determination of the Company to
carry out the purposes or intent of your Award.

 

(c)                                  You acknowledge and agree that you have reviewed your Award
in its entirety, have had an opportunity to obtain the advice of counsel prior
to executing and accepting your Award and fully understand all provisions of
your Award.

 

17.                                 Governing Plan Document.  Your Award is subject to all the provisions
of the Plan, the provisions of which are hereby made a part of your Award, and
is further subject to all interpretations, amendments, rules and
regulations which may from time to time be promulgated and adopted pursuant to
the Plan.  In the event of any conflict
between the provisions of your Award and those of the Plan, the provisions of
the Plan shall control.

 

	
   

  	
  BLACK
  RAVEN ENERGY, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Recipient:

  

 

 

4Exhibit 10.1

 

Eighth Amendment to the

 

First Amended and Restated
Agreement

 

of Limited Partnership

 

of

 

SL Green Operating Limited
Partnership, L.P.

 

This Amendment is made as
of January 20, 2010 by SL Green Realty Corp., a Maryland corporation, as
managing general partner (the “Company” or the “Managing General
Partner”) of SL Green Operating Limited Partnership, L.P., a Delaware
limited partnership (the “Partnership”), and as attorney-in-fact for the
Persons named on Exhibit A to the First Amended and Restated Agreement of
Limited Partnership of SL Green Operating Limited Partnership, dated as of August 20,
1997, as amended from time to time, (the “Partnership Agreement”) for
the purpose of amending the Partnership Agreement.  Capitalized terms used
herein and not defined shall have the meanings given to them in the Partnership
Agreement.

 

WHEREAS, the Board of
Directors of the Company (the “Board”), by action at a meeting on December 1,
2003 and by action of the Pricing Committee of the Board on December 3,
2003 pursuant to delegated authority, classified and designated 6,440,000
shares of Preferred Stock (as defined in the Articles of Incorporation of the
Company (the “Charter”)) as 7.625% Series C Cumulative Redeemable
Preferred Stock (the “Series C Preferred Stock”) of the Company,
with such preferences, rights, voting powers, restrictions, limitations as to
distributions, qualifications and terms and conditions of redemption as
described in the First Articles Supplementary (as defined below);

 

WHEREAS, the Board filed
Articles Supplementary to the Charter with the State Department of Assessments
and Taxation of Maryland on December 10, 2003 (the “First Articles
Supplementary”), establishing the Series C Preferred Stock, with such
preferences, rights, voting powers, restrictions, limitations as to
distributions, qualifications and terms and conditions of redemption as
described in the First Articles Supplementary;

 

WHEREAS, on December 12,
2003, the Company issued 6,300,000 shares of the Series C Preferred Stock;

 

WHEREAS, the Board filed
Articles Supplementary to the Charter with the State Department of Assessments
and Taxation of Maryland on January 19, 2010 (the “Subsequent Articles
Supplementary”), reclassifying and designating 5,400,000 additional shares
of the Company’s authorized but unissued shares of Series C Preferred
Stock (the “Additional Shares”), with such preferences, rights, voting
powers, restrictions, limitations as to distributions, qualifications and terms
and conditions of redemption as set forth in the Charter and the First Articles
Supplementary, as supplemented by the Subsequent Articles Supplementary, which
provides that dividends on the Additional Shares shall begin to accrue and be
fully cumulative from January 15, 2010 and that the first dividend on the
Additional Shares of Series C Preferred Stock shall be paid on April 15,
2010.

 

 WHEREAS, on January 20,
2010, the Company issued 5,400,000 shares of the Series C Preferred Stock;

 

WHEREAS, the Managing
General Partner has determined that, in connection with the issuance of the Series C
Preferred Stock, it is necessary and desirable to amend the Partnership
Agreement to create additional Partnership Units (as defined in the Partnership
Agreement) having designations, preferences and other rights which are
substantially the same as the economic rights of the Additional Shares.

 

NOW, THEREFORE, in
consideration of the premises and for other good and valuable consideration,
the receipt and sufficiency of which hereby are acknowledged, the Managing
General Partner hereby amends the Partnership Agreement as follows:

 

In accordance with Section 4.02.A
of the Partnership Agreement, in consideration of the Company’s contribution to
the Partnership of the net proceeds following the issuance and sale of the
Additional Shares by the Company, there shall be authorized, designated and
issued to the Company an additional 5,400,000 Series C 

 

 

Preferred Units, with the
preferences, conversion and other rights, voting powers, restrictions,
limitations as to dividends and other distributions, qualifications, and terms
and conditions of redemption as set forth in the Charter, and the Partnership
Agreement, including but not limited to the Third Amendment. Dividends on the Series C
Preferred Units shall begin to accrue and be fully cumulative from January 15,
2010 and the first dividend on such Series C Preferred Units shall be paid
on April 15, 2010.

 

*      *      *      *      *

 

 

IN WITNESS WHEREOF, the
undersigned have executed this Amendment as of the date first set forth above.

 

	
   

  	
  SL GREEN REALTY CORP., 

  a Maryland corporation, as Managing General Partner of SL Green Operating
  Limited Partnership and on behalf of existing Limited Partners

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/Andrew S.
  Levine

  
	
   

  	
   

  	
  Name: Andrew S. Levine

  
	
   

  	
   

  	
  Title:   Executive Vice President

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