Document:

Section 1

AWARD AGREEMENT

 

UNDER THE AMENDED AND RESTATED

ALLIANCE PARTNERS COMPENSATION PLAN

 

You

have been granted an award under the Amended and Restated Alliance Partners

Compensation Plan (the “Plan”), as specified below:

 

	

  Participant (“you”):

  	

  Bruce Calvert

  
	

   

  
	

  Amount of Award: 

  	

  $

  	

  2,000,000

  
	

   

  
	

  Date of Grant:

  	

  Dec. 31, 2001

  
	

   

  
	

  Vesting Commencement Date:

  	

  Jan. 31, 2003

  
					

 

In

connection with your award (the “Award”), you, Alliance Capital Management

Holding L.P.(“Holding”) and Alliance Capital Management L.P. (“Alliance”) agree

as set forth in this agreement (the “Agreement”).  The Plan provides a description of the terms and conditions

governing the Award.  If there is any

inconsistency between the terms of this Agreement and the terms of the Plan,

the Plan’s terms completely supersede and replace the conflicting terms of this

Agreement.  All capitalized terms have

the meanings given them in the Plan, unless specifically stated otherwise in

the Agreement.

 

You

will be asked to make an election with respect to the investment of your Award

as described in Section 3(b) of the Plan. 

Once you have made this election in accordance with the terms of the

Plan and the election form, your Award will be treated as invested in either

restricted Units of Holding, or in one or more designated money-market, debt or

equity fund sponsored by Alliance or its Affiliate in accordance with the terms

of the Plan applicable to Post-2000 Awards.

 

It

is expressly understood that the Committee is authorized to administer,

construe, and make all determinations necessary or appropriate to the

administration of the Plan and this Agreement, all of which shall be binding

upon you.  The Committee is under no

obligation to treat you or your award consistently with the treatment provided

for other participants in the Plan.

 

This

Agreement does not confer upon you any right to continuation of employment by a

Company, nor does this Agreement interfere in any way with a Company’s right to

terminate your employment at any time.

 

This

Agreement will be subject to all applicable laws, rules, and regulations, and

to such approvals by any governmental agencies or national securities exchanges

as may be required.

 

1

 

This

Agreement will be governed by, and construed in accordance with, the laws of

the state of New York (without regard to conflict of law provisions).

 

This

Agreement and the Plan constitute the entire understanding between you and the

Companies regarding this award.  Any

prior agreements, commitments or negotiations concerning this award are

superseded.  This Agreement may be

amended only by another written agreement, signed by both parties.

 

BY SIGNING

BELOW, YOU AGREE TO ALL OF THE TERMS AND CONDITIONS DESCRIBED ABOVE AND IN THE

PLAN.

 

IN

WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed

effective as of Dec. 31, 2001.

 

	

   

  	

  Alliance Capital

  Management L.P.

  
	

   

  	

  By: 

  	

  Alliance Capital

  Management Corp., G.P.

  
	

   

  	

   

  
	

   

  	

  Participant

  
	

   

  	

   

  
	

   

  	

   /s/ Bruce Calvert

  
	

   

  	

   Signature

  

 

2Section 1

AWARD AGREEMENT

 

UNDER THE AMENDED AND RESTATED

ALLIANCE PARTNERS COMPENSATION PLAN

 

You have been granted an

award under the Amended and Restated Alliance Partners Compensation Plan (the

“Plan”), as specified below:

 

	

  Participant (“you”): 

  	

  John Carifa

  
	

   

  
	

  Amount of Award: 

  	

  $

  	

  2,000,000

  
	

   

  
	

  Date of Grant: 

  	

  Dec. 31, 2001

  
	

   

  
	

  Vesting Commencement Date:

  

  	

  Jan. 31, 2003

  
						

 

In connection with your

award (the “Award”), you, Alliance Capital Management Holding L.P.(“Holding”)

and Alliance Capital Management L.P. (“Alliance”) agree as set forth in this

agreement (the “Agreement”).  The Plan

provides a description of the terms and conditions governing the Award.  If there is any inconsistency between the

terms of this Agreement and the terms of the Plan, the Plan’s terms completely

supersede and replace the conflicting terms of this Agreement.  All capitalized terms have the meanings

given them in the Plan, unless specifically stated otherwise in the Agreement.

 

You will be asked to make an

election with respect to the investment of your Award as described in Section

3(b) of the Plan.  Once you have made

this election in accordance with the terms of the Plan and the election form,

your Award will be treated as invested in either restricted Units of Holding,

or in one or more designated money-market, debt or equity fund sponsored by

Alliance or its Affiliate in accordance with the terms of the Plan applicable

to Post-2000 Awards.

 

It is expressly understood

that the Committee is authorized to administer, construe, and make all determinations

necessary or appropriate to the administration of the Plan and this Agreement,

all of which shall be binding upon you. 

The Committee is under no obligation to treat you or your award

consistently with the treatment provided for other participants in the Plan.

 

This Agreement does not

confer upon you any right to continuation of employment by a Company, nor does

this Agreement interfere in any way with a Company’s right to terminate your

employment at any time.

 

This Agreement will be

subject to all applicable laws, rules, and regulations, and to such approvals

by any governmental agencies or national securities exchanges as may be

required.

 

1

 

This Agreement will be

governed by, and construed in accordance with, the laws of the state of New

York (without regard to conflict of law provisions).

 

This Agreement and the Plan

constitute the entire understanding between you and the Companies regarding

this award.  Any prior agreements,

commitments or negotiations concerning this award are superseded.  This Agreement may be amended only by

another written agreement, signed by both parties.

 

BY SIGNING BELOW, YOU AGREE TO ALL

OF THE TERMS AND CONDITIONS DESCRIBED ABOVE AND IN THE PLAN.

 

IN WITNESS WHEREOF, the

parties hereto have caused this Agreement to be executed effective as of Dec

31, 2001.

 

 

	

   

  	

  Alliance Capital

  Management L.P.

  
	

   

  	

  By: Alliance Capital

  Management Corp., G.P.

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  Participant

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

   /s/ John Carifa

  	

   

  
	

   

  	

   Signature

  

 

2Section 1

AWARD AGREEMENT

 

UNDER THE AMENDED AND RESTATED

ALLIANCE PARTNERS COMPENSATION PLAN

 

You have been granted an

award under the Amended and Restated Alliance Partners Compensation Plan (the

“Plan”), as specified below:

 

	

  Participant (“you”):

  	

  Alfred Harrison

  
	

   

  	

   

  
	

  Amount of Award: 

  	

  $

  	

  2,000,000

  
	

   

  	

   

  	

   

  
	

  Date of Grant:

  	

  Dec. 31, 2001

  
	

   

  	

   

  
	

  Vesting Commencement Date:

  	

  Jan. 31, 2003

  
					

 

In connection with your

award (the “Award”), you, Alliance Capital Management Holding L.P.(“Holding”)

and Alliance Capital Management L.P. (“Alliance”) agree as set forth in this

agreement (the “Agreement”).  The Plan

provides a description of the terms and conditions governing the Award.  If there is any inconsistency between the

terms of this Agreement and the terms of the Plan, the Plan’s terms completely

supersede and replace the conflicting terms of this Agreement.  All capitalized terms have the meanings

given them in the Plan, unless specifically stated otherwise in the Agreement.

 

You will be asked to make an

election with respect to the investment of your Award as described in Section

3(b) of the Plan.  Once you have made

this election in accordance with the terms of the Plan and the election form,

your Award will be treated as invested in either restricted Units of Holding,

or in one or more designated money-market, debt or equity fund sponsored by

Alliance or its Affiliate in accordance with the terms of the Plan applicable

to Post-2000 Awards.

 

It is expressly understood

that the Committee is authorized to administer, construe, and make all

determinations necessary or appropriate to the administration of the Plan and

this Agreement, all of which shall be binding upon you.  The Committee is under no obligation to

treat you or your award consistently with the treatment provided for other participants

in the Plan.

 

This Agreement does not

confer upon you any right to continuation of employment by a Company, nor does

this Agreement interfere in any way with a Company’s right to terminate your

employment at any time.

 

This Agreement will be subject

to all applicable laws, rules, and regulations, and to such approvals by any

governmental agencies or national securities exchanges as may be required.

 

1

 

This Agreement will be

governed by, and construed in accordance with, the laws of the state of New

York (without regard to conflict of law provisions).

 

This Agreement and the Plan

constitute the entire understanding between you and the Companies regarding

this award.  Any prior agreements,

commitments or negotiations concerning this award are superseded.  This Agreement may be amended only by

another written agreement, signed by both parties.

 

BY SIGNING BELOW, YOU AGREE TO ALL

OF THE TERMS AND CONDITIONS DESCRIBED ABOVE AND IN THE PLAN.

 

IN WITNESS WHEREOF, the

parties hereto have caused this Agreement to be executed effective as of Dec

31, 2001.

 

	

   

  	

  Alliance Capital

  Management L.P.

  
	

   

  	

  By: Alliance Capital

  Management Corp., G.P.

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  Participant

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

   /s/ Alfred Harrison

  	

   

  
	

   

  	

   Signature

  

 

2

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