Document:

Exhibit 10.15

 

[Execution Copy]

 

MANAGEMENT EQUITY AWARD AGREEMENT

(Class B, C and D Interests)

 

THIS
MANAGEMENT EQUITY AWARD AGREEMENT (“Agreement”)
is made as of October 13, 2006 by and between TDS Investor (Cayman) L.P., a
Cayman Islands limited partnership (the “Partnership”)
and the executive whose name is set forth on the signature page hereto (“Executive”).

 

RECITALS

 

The
Partnership has adopted the TDS Investor (Cayman) L.P. 2006 Interest Plan (the “Plan”), a copy of which is attached hereto as Exhibit A.

 

In connection
with Executive’s employment by the Partnership or one of its Subsidiaries
(collectively, the “Company”), the
Partnership intends concurrently herewith (i) to allow Executive to become
a party to the Agreement of Limited Partnership (as amended, modified or
supplemented from time to time, the “Partnership Agreement”)
of the Partnership dated October 13, 2006 and (ii) to subscribe for the
number and classes of Interests (as defined in the Partnership Agreement) set
forth on the signature page hereto. Upon vesting in accordance with this
Agreement, Unvested Interests shall automatically convert to Vested Interests
for purposes of the Partnership Agreement.

 

NOW,
THEREFORE, in consideration of the foregoing premises and the mutual promises set
forth in this Agreement, and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties to this
Agreement, intending to be legally bound, agree as follows:

 

SECTION 1

 DEFINITIONS

 

1.1.                              Definitions. Capitalized terms not
otherwise defined herein shall have the meanings ascribed to them in the
Partnership Agreement. In addition to the terms defined in the Partnership
Agreement, the terms below shall have the following respective meanings:

 

“Agreement” has the meaning specified in the
Introduction.

 

“Board” means the board of directors of the
General Partner (or, if applicable, any committee of the Board).

 

“Cause” shall have the meaning assigned such term in any
employment agreement entered into between any Company and Executive, provided
that if no such employment agreement exists or such term is not defined, then “Cause”
shall mean (A) Executive’s failure substantially to perform Executive’s duties
to the Company (other than as a result of total or partial incapacity due to
Disability) for a period of 10 days following receipt of written notice from
any Company by Executive of such failure; provided that it is understood that
this clause 

 

 

(A) shall not
apply if a Company terminates Executive’s employment because of dissatisfaction
with actions taken by Executive in the good faith performance of Executive’s
duties to the Company, (B) theft or embezzlement of property of the Company or
dishonesty in the performance of Executive’s duties to the Company, other than
de minimis conduct that would not typically result in sanction by an employer
of an executive in similar circumstances, (C) conviction which is not subject
to routine appeals of right or a plea of “no contest” for (x) a felony under
the laws of the United States or any state thereof or (y) a crime involving
moral turpitude for which the potential penalty includes imprisonment of at
least one year, (D) Executive’s willful malfeasance or willful misconduct in
connection with Executive’s duties or any act or omission which is materially
injurious to the financial condition or business reputation of the Company or
its affiliates, or (E) Executive’s breach of the provisions of any agreed-upon
non-compete, non-solicitation or confidentiality provisions agreed to with the
Company, including pursuant to this Agreement and pursuant to any employment
agreement (excluding a breach of a confidentiality obligation by a statement
made by Executive in good faith in Executive’s employment capacity).

 

“Company” has the meaning specified in the Recitals.

 

“Constructive Termination” shall have the
meaning assigned such term in any employment agreement entered into between any
Company and Executive, provided that if no such employment agreement exists or
such term is not defined, then “Constructive Termination” means (A) any
material reduction in Executive’s base salary or annual bonus opportunity
(excluding any change in value of equity incentives or a reduction affecting
substantially all similarly situated executives), (B) failure of the Company or
its affiliates to pay compensation or benefits when due, in each case which is
not cured within 30 days following the Company’s receipt of written notice from
Executive describing the event constituting a Constructive Termination,
(C) a material and sustained diminution to Executive’s duties and
responsibilities as of the date of this Agreement or (D) the primary
business office for Executive being relocated by more than 50 miles; provided
that any of the events described in clauses (A)-(D) of this shall constitute a
Constructive Termination only if the Company fails to cure such event within 30
days after receipt from Executive of written notice of the event which
constitutes a Constructive Termination; provided, further, that a
“Constructive Termination” shall cease to exist for an event on the 60th
day following the later of its occurrence or Executive’s knowledge thereof,
unless Executive has given the Company written notice thereof prior to such
date.

 

“Disability” shall have the meaning assigned
such term in any employment agreement entered into between any Company and
Executive, provided that if no such employment agreement exists or such term is
not defined, then “Disability” shall mean Executive shall have become
physically or mentally incapacitated and is therefore unable for a period of
nine (9) consecutive months or for an aggregate of twelve (12) months in any
eighteen (18) consecutive month period to perform Executive’s duties under
Executive’s employment. Any question as to the existence of the Disability of
Executive as to which Executive and the Partnership cannot agree shall be
determined in writing by a qualified independent physician mutually acceptable
to Executive and the Partnership. If Executive and the Partnership cannot agree
as to a qualified independent physician, each shall appoint such a physician
and those two physicians shall select a third who shall make such determination
in writing. The determination of Disability made in writing to the Partnership
and Executive shall be final and conclusive for all purposes of this 

 

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Agreement and
any other agreement between any Company and Executive that incorporates the
definition of “Disability”.

 

“Effective Date” means the date hereof.

 

“Exchange Act” shall mean the Securities Exchange Act of
1934, as amended.

 

“Executive” has the meaning specified in the
Introduction.

 

“Liquidity Event” means (i) the sale or sales by
Blackstone Partners, in one or a series of transactions, of at least 50% of
their aggregate Class A-1 Interests (and shares received in IPO
Corporation in exchange for Class A-1 Interests) to any Person or Persons
(other than an Affiliate; provided that portfolio operating companies shall not
be “Affiliates” for the purpose of this definition) in which the Blackstone
Partners receive cash or marketable securities (a “Sale
Liquidity Event”) or (ii) the distribution by the Blackstone
Partners, in one or a series of transactions, of at least 50% of their
aggregate Class A-1 Interests (and shares received in IPO Corporation in
exchange for Class A-1 Interests) to limited partners of the Blackstone
Partners (other than an Affiliate) (a “Distribution Liquidity
Event”).

 

“Other Documents”  means  the
Partnership Agreement, any other management equity award agreement between
Executive and the Partnership and any employment agreement by and between
Executive and any Partnership, in each case as amended, modified, supplemented
or restated from time to time in accordance with the terms thereof.

 

“Partnership” has the meaning specified in
the Introduction.

 

“Partnership Agreement”  has the meaning specified in the Recitals.

 

“Subject Interests” means the Class A-2
Interests, the Class B Interests, the Class C Interests and the
Class D Interests acquired by Executive pursuant to this Agreement and the
Partnership Agreement, whether such Subject Interests are Vested Interests or
Unvested Interests.

 

“Unvested Interests” means Subject Interests
owned by Executive that are subject to any vesting, forfeiture or similar
arrangement under this Agreement or the Partnership Agreement.

 

“Vested Interests” means Subject Interests
owned by Executive that are no longer subject to any vesting, forfeiture or
similar arrangement under this Agreement or the Partnership Agreement.

 

“Syndication Transaction” shall mean a Disposition by
Blackstone to any person or group of persons that are not Affiliates of the
Blackstone Group of its Class A-1 Interests that occurs at any time within
the first twelve (12) months following the Initial Closing Date at a sale price
that does not exceed 120% of the amount invested by Blackstone in the
Partnership in respect of such Class A-1 Interests.

 

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SECTION 2

INTERESTS

 

2.1.                              Interests. Subject to the terms and
conditions hereof and subject to the terms and conditions of the Partnership
Agreement, the Partnership hereby allows Executive to become a party to the
Partnership Agreement as a Limited Partner having the number and class of
Subject Interests set forth on the signature page to this Agreement and sells
and/or awards such Subject Interests to Executive, and Executive purchases
and/or accepts such Subject Interests from the Partnership. Any contributions
required by Executive in connection with the purchase and/or acceptance of such
Subject Interests shall be made pursuant to the terms of the Partnership
Agreement.

 

SECTION 3

VESTING

 

3.1.                              Vesting Schedule. Subject to Executive’s
continued employment with the Company, the Subject Interests shall vest and
automatically convert to Vested Interests under the Partnership Agreement as
follows:

 

(a)                                  Class B
Interests. 25% of the Class B Interests shall vest and automatically
convert to Vested Interests hereunder and under the Partnership Agreement on
each of the first, second, third and fourth anniversaries of the Initial
Closing Date (each date, a “Time  Vesting Date”). Notwithstanding the
foregoing in the event that:

 

(i)                                     a
Change of Control occurs at a time when Executive is employed by the Company,
Executive shall thereupon be deemed to have vested 100% into ownership of all
Class B Interests immediately prior to such Change of Control (and such
Class B Interests shall automatically convert to Vested Interests
hereunder and under the Partnership Agreement);

 

(ii)                                  Executive’s
employment is terminated for any reason, except as set forth, and to the extent
provided, in Section 3.1(a)(iii)), Executive shall have no right to further
vesting of the Class B Interests that are Unvested Interests (and such
Class B Interests shall be Unvested Interests notwithstanding the
provisions of this Section 3.1(a)); and

 

(iii)                               Executive’s
employment with the Company is terminated (x) by the Company without Cause,
(y) as a result of death or Disability or (z) by Executive as a
result of a Constructive Termination, Executive shall thereupon be deemed to
have vested in the Class B Interests that would have vested on the next
Time Vesting Date (and such Class B Interests shall automatically convert
to Vested Interests hereunder and under the Partnership Agreement).

 

(b)                                 Class C
Interests. Class C Interests shall vest and automatically convert to Vested
Interests hereunder and under the Partnership Agreement upon the occurrence of
a Liquidity Event in which (x) in the case of a Sale Liquidity Event,
Blackstone shall have 

 

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received, in respect of its Class A-1
Interests held on the date of this Agreement (excluding any Class A-1
Interests Disposed of in connection with a Syndication Transaction), cash or
other marketable securities (whether through distributions under the
Partnership Agreement in respect of such Class A-1 Interests or
Dispositions of such Class A-1 Interests) with a fair market value equal
to 200% of the amount invested by Blackstone in the Partnership in respect of
such Class A-1 Interests (excluding any Class A-1 Interests Disposed
of in connection with a Syndication Transaction) or (y) in the case of a
Distribution Liquidity Event, the Class A-1 Interests distributed have a
fair market value equal to 200% of the amount invested by Blackstone in the
Partnership in respect of such Class A-1 Interests (excluding any
Class A-1 Interests Disposed of in connection with a Syndication
Transaction). Notwithstanding the foregoing in the event that:

 

(i)                                     Executive’s
employment with the Company is terminated for any reason, except as set forth,
and to the extent provided, in Section 3.1(b)(ii)), Executive shall have no right
to further vesting of the Class C Interests that are Unvested Interests
(and such Class C Interests shall be Unvested Interests notwithstanding
the provisions of this Section 3.1(b)); and

 

(ii)                                  Executive’s
employment with the Company is terminated (x) by the Company without Cause,
(y) as a result of death or Disability or (z) by Executive as a
result of a Constructive Termination, a percentage of Executive’s Class C
Interests that are then Unvested Interests shall thereupon be deemed vested in
an amount equal to the percentage of Executive’s original Class B
Interests that became Vested Interests pursuant to Section 3.1(a) at the
time of such termination (but giving effect to Section 3.1(a)(iii)) (any
Class C Interests that become Vested Interests as a result of this
Section 3.1(b)(ii) shall be referred to as “Accelerated Class C Interests”).

 

(c)                                  Class D
Interests. Class D Interests shall vest and automatically convert to Vested
Interests hereunder and under the Partnership Agreement upon the occurrence of
a Liquidity Event in which (x) in the case of a Sale Liquidity Event,
Blackstone shall have received, in respect of its Class A-1 Interests held
on the date of this Agreement (excluding any Class A-1 Interests Disposed
of in connection with a Syndication Transaction), cash or other marketable
securities (whether through distributions under the Partnership Agreement in
respect of such Class A-1 Interests or Dispositions of such Class A-1
Interests) with a fair market value equal to 300% of the amount invested by
Blackstone in the Partnership in respect of such Class A-1 Interests
(excluding any Class A-1 Interests Disposed of in connection with a
Syndication Transaction) or (y) in the case of a Distribution Liquidity
Event, the Class A-1 Interests distributed have a fair market value equal
to 300% of the amount invested by Blackstone in the Partnership in respect of
such Class A-1 Interests (excluding any Class A-1 Interests Disposed
of in connection with a Syndication Transaction). Notwithstanding the foregoing
in the event that:

 

(i)                                     Executive’s
employment with the Company is terminated for any reason, except as set forth,
and to the extent provided, in Section 3.1(c)(ii)), Executive shall have no
right to further vesting of the Class D Interests that are Unvested
Interests (and such Class D Interests shall be Unvested Interests
notwithstanding the provisions of this Section 3.1(c)); and

 

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(ii)                                  Executive’s
employment with the Company is terminated (x) by the Company without Cause,
(y) as a result of death or Disability or (z) by Executive as a
result of a Constructive Termination, a percentage of Executive’s Class D
Interests that are then Unvested Interests shall thereupon be deemed vested in
an amount equal to the percentage of Executive’s original Class B
Interests that became Vested Interests pursuant to Section 3.1(a) at the
time of such termination (but giving effect to Section 3.1(a)(iii)) (any
Class D Interests that become Vested Interests as a result of this
Section 3.1(c)(ii) shall be referred to as “Accelerated Class D Interests” and, together with the
Accelerated Class C Interests, the “Accelerated
Interests”).

 

3.2.                              Forfeiture; Call Rights; Put Rights; Voting; Power of
Attorney.

 

(a)                                  Executive
acknowledges and affirms the provisions of Article XII of the Partnership
Agreement and hereby agrees that all of the provisions of Article XII of
the Partnership Agreement are hereby incorporated by reference into this
Agreement.

 

(b)                                 Executive
further agrees that if any provision in Article XII of the Partnership
Agreement shall be held invalid, illegal or unenforceable under the laws of the
Cayman Islands, the validity, legality and enforceability of such corresponding
provisions in this Agreement shall not in any way be affected or impaired
thereby.

 

(c)                                  Notwithstanding
the foregoing or anything to the contrary in the Partnership Agreement, the
purchase price payable under this Section 3.2 or Article XII of the
Partnership Agreement for Accelerated Interests shall be the same price that
would be payable if such Accelerated Interests were Class B Interests that
were Vested Interests.

 

SECTION 4

NON-COMPETITION AND CONFIDENTIALITY

 

4.1.                              Non-Competition.

 

(a)                                  From
the date hereof while employed by the Company and for a two-year period
following the date Executive ceases to be employed by the Company (the “Restricted
Period”), irrespective of the cause, manner or time of any termination,
Executive shall not use his status with any Company or any of its Affiliates to
obtain loans, goods or services from another organization on terms that would
not be available to him in the absence of his relationship to the Company or
any of its Affiliates.

 

(b)                                 During
the Restricted Period, Executive shall not make any statements or perform any
acts intended to or which may have the effect of advancing the interest of any
Competitors of the Company or any of its Affiliates or in any way injuring the
interests of the Company or any of its Affiliates and the Company and its
Affiliates shall not make or authorize any person to make any statement that
would in any way injure the personal or business reputation or interests of
Executive; provided however, that, subject to Section 4.2, nothing herein shall
preclude the Company and its Affiliates or Executive from giving truthful
testimony under oath in response to a subpoena or other lawful process or
truthful answers in response to questions from a government investigation;
provided, further, however, that nothing herein shall 

 

6

 

prohibit the Company and its Affiliates from
disclosing the fact of any termination of Executive’s employment or the
circumstances for such a termination. For purposes of this Section 4.1(b), the
term “Competitor” means any
enterprise or business that is engaged in, or has plans to engage in, at any
time during the Restricted Period, any activity that competes with the
businesses conducted during or at the termination of Executive’s employment, or
then proposed to be conducted, by the Company and its Affiliates in a manner
that is or would be material in relation to the businesses of the Company or
the prospects for the businesses of the Company (in each case, within 100 miles
of any geographical area where the Company or its Affiliates manufactures,
produces, sells, leases, rents, licenses or otherwise provides its products or
services). During the Restricted Period, Executive, without prior express
written approval by the Board, shall not (A) engage in, or directly or
indirectly (whether for compensation or otherwise) manage, operate, or control,
or join or participate in the management, operation or control of a Competitor,
in any capacity (whether as an employee, officer, director, partner,
consultant, agent, advisor, or otherwise) or (B) develop, expand or promote, or
assist in the development, expansion or promotion of, any division of an
enterprise or the business intended to become a Competitor at any time after
the end of the Restricted Period or (C) own or hold a Proprietary Interest in,
or directly furnish any capital to, any Competitor of the Company. Executive
acknowledges that the Company’s and its Affiliates businesses are conducted
nationally and internationally and agrees that the provisions in the foregoing
sentence shall operate throughout the United States and the world (subject to
the definition of “Competitor”).

 

(c)                                  During
the Restricted Period, Executive, without express prior written approval from
the Board, shall not solicit any members or the then current clients of the
Company or any of its Affiliates for any existing business of the Company or
any of its Affiliates or discuss with any employee of the Company or any of its
Affiliates information or operations of any business intended to compete with
the Company or any of its Affiliates.

 

(d)                                 During
the Restricted Period, Executive shall not interfere with the employees or
affairs of the Company or any of its Affiliates or solicit or induce any person
who is an employee of the Company or any of its Affiliates to terminate any
relationship such person may have with the Company or any of its Affiliates,
nor shall Executive during such period directly or indirectly engage, employ or
compensate, or cause or permit any Person with which Executive may be
Affiliated, to engage, employ or compensate, any employee of the Company or any
of its Affiliates.

 

(e)                                  For
the purposes of this Agreement, “Proprietary Interest” means any legal,
equitable or other ownership, whether through stock holding or otherwise, of an
interest in a business, firm or entity; provided, that ownership of less than
5% of any class of equity interest in a publicly held company shall not be
deemed a Proprietary Interest.

 

(f)                                    The
period of time during which the provisions of this Section 4.1 shall be in
effect shall be extended by the length of time during which Executive is in
breach of the terms hereof as determined by any court of competent jurisdiction
on the Company’s application for injunctive relief.

 

(g)                                 Executive
agrees that the restrictions contained in this Section 4.1 are an essential
element of the compensation Executive is granted hereunder and but for
Executive’s 

 

7

 

agreement to comply with such restrictions,
the Company would not have entered into this Agreement.

 

(h)                                 It
is expressly understood and agreed that although Executive and the Company
consider the restrictions contained in this Section 4.1 to be reasonable, if a
final judicial determination is made by a court of competent jurisdiction that
the time or territory or any other restriction contained in this Agreement is
an unenforceable restriction against Executive, the provisions of this
Agreement shall not be rendered void but shall be deemed amended to apply as to
such maximum time and territory and to such maximum extent as such court may
judicially determine or indicate to be enforceable. Alternatively, if any court
of competent jurisdiction finds that any restriction contained in this
Agreement is unenforceable, and such restriction cannot be amended so as to
make it enforceable, such finding shall not affect the enforceability of any of
the other restrictions contained herein.

 

4.2.                              Confidentiality.

 

(a)                                  Executive
will not at any time (whether during or after Executive’s employment with the
Company) (x) retain or use for the benefit, purposes or account of Executive or
any other Person; or (y) disclose, divulge, reveal, communicate, share,
transfer or provide access to any Person outside the Company (other than its
professional advisers who are bound by confidentiality obligations), any
non-public, proprietary or confidential information (including without
limitation trade secrets, know-how, research and development, software,
databases, inventions, processes, formulae, technology, designs and other
intellectual property, information concerning finances, investments, profits,
pricing, costs, products, services, vendors, customers, clients, partners,
investors, personnel, compensation, recruiting, training, advertising, sales,
marketing, promotions, government and regulatory activities and approvals)
concerning the past, current or future business, activities and operations of
the Company or its Affiliates and/or any third party that has disclosed or
provided any of same to the Company on a confidential basis (“Confidential
Information”) without the prior written authorization of the Board.

 

(b)                                 “Confidential
Information” shall not include any information that is (i) generally known to
the industry or the public other than as a result of Executive’s breach of this
covenant or any breach of other confidentiality obligations by third parties;
(ii) made legitimately available to Executive by a third party without breach
of any confidentiality obligation; or (iii) required by law to be disclosed; provided
that Executive shall give prompt written notice to the Company of such
requirement, disclose no more information than is so required, and cooperate,
at the Company’s cost, with any attempts by the Company to obtain a protective
order or similar treatment.

 

(c)                                  Except
as required by law, Executive will not disclose to anyone, other than Executive’s
immediate family and legal or financial advisors, the existence or contents of
this Agreement (unless this Agreement shall be publicly available as a result
of a regulatory filing made by the Company or its Affiliates); provided
that Executive may disclose to any prospective future employer the provisions
of Section 4 of this Agreement provided they agree to maintain the confidentiality
of such terms.

 

8

 

(d)                                 Upon
termination of Executive’s employment with the Company for any reason,
Executive shall (x) cease and not thereafter commence use of any Confidential
Information or intellectual property (including without limitation, any patent,
invention, copyright, trade secret, trademark, trade name, logo, domain name or
other source indicator) owned or used by the Company or its Affiliates; (y)
immediately destroy, delete, or return to the Company, at the Company’s option,
all originals and copies in any form or medium (including memoranda, books,
papers, plans, computer files, letters and other data) in Executive’s
possession or control (including any of the foregoing stored or located in Executive’s
office, home, laptop or other computer, whether or not Company property) that
contain Confidential Information or otherwise relate to the business of the
Company and its Affiliates, except that Executive may retain only those
portions of any personal notes, notebooks and diaries that do not contain any
Confidential Information; and (z) notify and fully cooperate with the Company
regarding the delivery or destruction of any other Confidential Information of
which Executive is or becomes aware.

 

4.3.                              Intellectual Property.

 

(a)                                  If
Executive has created, invented, designed, developed, contributed to or
improved any works of authorship, inventions, intellectual property, materials,
documents or other work product (including without limitation, research,
reports, software, databases, systems, applications, presentations, textual
works, content, or audiovisual materials) (“Works”), either alone or with third
parties, prior to Executive’s employment by the Company, that are relevant to
or implicated by such employment (“Prior Works”), Executive hereby grants the
Company a perpetual, non-exclusive, royalty-free, worldwide, assignable,
sublicensable license under all rights and intellectual property rights
(including rights under patent, industrial property, copyright, trademark,
trade secret, unfair competition and related laws) therein for all purposes in
connection with the Company’s current and future business.

 

(b)                                 If
Executive creates, invents, designs, develops, contributes to or improves any
Works, either alone or with third parties, at any time during Executive’s
employment by the Company and within the scope of such employment and/or with
the use of any the Company resources (“Company Works”), Executive shall
promptly and fully disclose same to the Company and hereby irrevocably assigns,
transfers and conveys, to the maximum extent permitted by applicable law, all
rights and intellectual property rights therein (including rights under patent,
industrial property, copyright, trademark, trade secret, unfair competition and
related laws) to the Company to the extent ownership of any such rights does
not vest originally in the Company.

 

(c)                                  Executive
agrees to keep and maintain adequate and current written records (in the form
of notes, sketches, drawings, and any other form or media requested by the
Company) of all Company Works. The records will be available to and remain the
sole property and intellectual property of the Company at all times.

 

(d)                                 Executive
shall take all requested actions and execute all requested documents (including
any licenses or assignments required by a government contract) at the Company’s
expense (but without further remuneration) to assist the Company in validating,
maintaining, protecting, enforcing, perfecting, recording, patenting or
registering any of the 

 

9

 

Company’s rights in the Prior Works and
Company Works. If the Company is unable for any other reason to secure
Executive’s signature on any document for this purpose, then Executive hereby
irrevocably designates and appoints the Company and its duly authorized
officers and agents as Executive’s agent and attorney in fact, to act for and
in Executive’s behalf and stead to execute any documents and to do all other
lawfully permitted acts in connection with the foregoing.

 

(e)                                  Executive
shall not improperly use for the benefit of, bring to any premises of, divulge,
disclose, communicate, reveal, transfer or provide access to, or share with the
Company any confidential, proprietary or non-public information or intellectual
property relating to a former employer or other third party without the prior
written permission of such third party. Executive hereby indemnifies, holds
harmless and agrees to defend the Company and its officers, directors,
partners, employees, agents and representatives from any breach of the
foregoing covenant. Executive shall comply with all relevant policies and
guidelines of the Company, including regarding the protection of confidential
information and intellectual property and potential conflicts of interest. Executive
acknowledges that the Company may amend any such policies and guidelines from
time to time, and that Executive remains at all times bound by their most
current version.

 

4.4.                              Specific Performance. Executive
acknowledges and agrees that the Partnership’s remedies at law for a breach or
threatened breach of any of the provisions of this Section 4 would be
inadequate and the Partnership would suffer irreparable damages as a result of
such breach or threatened breach. In recognition of this fact, Executive agrees
that, in the event of such a breach or threatened breach, in addition to any
remedies at law, the Partnership, without posting any bond, shall be entitled
to cease making any payments or providing any benefit otherwise required by
this Agreement and obtain equitable relief in the form of specific performance,
temporary restraining order, temporary or permanent injunction or any other
equitable remedy which may then be available. Without limiting the generality
of the foregoing, neither party shall oppose any motion the other party may
make for any expedited discovery or hearing in connection with any alleged
breach of this Section 4.

 

4.5.                              Survival. The provisions of this
Section 4 shall survive the termination of Executive’s employment for any
reason.

 

SECTION 5

MISCELLANEOUS

 

5.1.                              Tax Issues. THE ISSUANCE OF THE SUBJECT
INTERESTS TO EXECUTIVE PURSUANT TO THIS AGREEMENT INVOLVES COMPLEX AND
SUBSTANTIAL TAX CONSIDERATIONS, INCLUDING, WITHOUT LIMITATION, CONSIDERATION OF
THE ADVISABILITY OF EXECUTIVE MAKING AN ELECTION UNDER SECTION 83(B) OF THE
CODE. EXECUTIVE ACKNOWLEDGES THAT HE HAS CONSULTED HIS OWN TAX ADVISOR WITH
RESPECT TO THE TRANSACTIONS DESCRIBED IN THIS AGREEMENT. THE
COMPANY MAKES NO WARRANTIES OR REPRESENTATIONS WHATSOEVER TO EXECUTIVE
REGARDING THE TAX CONSEQUENCES OF EXECUTIVE’S PURCHASE OF THE SUBJECT INTERESTS

 

10

 

OR THIS AGREEMENT.
EXECUTIVE ACKNOWLEDGES AND AGREES THAT EXECUTIVE SHALL BE SOLELY RESPONSIBLE
FOR ANY TAXES ON THE SUBJECT INTERESTS AND SHALL HOLD THE COMPANY, ITS
OFFICERS, DIRECTORS AND EMPLOYEES HARMLESS FROM ANY LIABILITY ARISING FROM ANY
TAXES INCURRED BY EXECUTIVE IN CONNECTION WITH THE SUBJECT INTERESTS.

 

5.2.                              Employment of Executive. Executive
acknowledges that he is employed by the Partnership or its Affiliates subject
to the terms of his employment agreement with the Partnership (if any). Any
change of Executive’s duties as an employee of the Company shall not result in
a modification of the terms of this Agreement.

 

5.3.                              Transferees. Each and every transferee
or assignee of Subject Interests from Executive shall be bound by and subject
to all the terms and conditions of this Agreement on the same basis as Executive
is bound (and every subsequent transferee shall also be so bound). So long as
this Agreement is in effect, no Disposition of any Subject Interests shall be
effective unless the transferee agrees in writing to be bound by, and subject
to, the provisions of this Agreement upon the same terms applicable to
Executive.

 

5.4.                              Withholding; Setoff. The Company shall
have the right and is hereby authorized to withhold from any payment due or
transfer made under this Agreement or from any compensation or other amount
owing to Executive the amount of any applicable withholding taxes in respect of
the Subject Interests or any payment or transfer with respect to the Subject
Interests and to take such action as may be necessary in the opinion of the
Partnership to satisfy all obligations for the payment of such taxes. The
Partnership’s obligation to pay Executive the amounts provided and to make the
arrangements provided hereunder and under the Partnership Agreement shall be
subject to set off, counterclaim or recoupment of amounts owed by such
Executive (or any Affiliate of such Executive (or any of its Relatives) that is
Controlled by such Executive (or any of its Relatives)) to the Partnership or
its Affiliates (including without limitation amounts owed pursuant to the
Partnership Agreement).

 

5.5.                              Compliance with IRC Section 409A. Notwithstanding
anything herein to the contrary, (i) if at the time Executive is a “specified
employee” as defined in Section 409A of the Code and the deferral of the
commencement of any payments or benefits otherwise payable hereunder is
necessary in order to prevent any accelerated or additional tax under Section
409A of the Code, then the Company will defer the commencement of the payment
of any such payments or benefits hereunder (without any reduction in such
payments or benefits ultimately paid or provided to Executive) until the date
that is six months following Executive’s termination of employment with the
Company (or the earliest date as is permitted under Section 409A of the Code)
and (ii) if any other payments of money or other benefits due to Executive
hereunder could cause the application of an accelerated or additional tax under
Section 409A of the Code, such payments or other benefits shall be deferred if
deferral will make such payment or other benefits compliant under Section 409A
of the Code, or otherwise such payment or other benefits shall be restructured,
to the extent possible, in a manner, determined by the Board, that does not
cause such an accelerated or additional tax. The Company shall consult with
Executive in good faith regarding the implementation of the provisions of this
Section 5.5; provided that neither the Company nor any of its employees or
representatives shall have any liability to Executive with respect to thereto.

 

11

 

5.6.                              Remedies.

 

(a)                                  The
rights and remedies provided by this Agreement are cumulative and the use of
any one right or remedy by any party shall not preclude or waive its right to
use any or all other remedies. These rights and remedies are given in addition
to any other rights the parties may have at law or in equity.

 

(b)                                 Except
where a time period is otherwise specified, no delay on the part of any party
in the exercise of any right, power, privilege or remedy hereunder shall
operate as a waiver thereof, nor shall any exercise or partial exercise of any
such right, power, privilege or remedy preclude any further exercise thereof or
the exercise of any right, power, privilege or remedy.

 

5.7.                              Waivers and Amendments. The respective
rights and obligations of the Partnership and Executive under this Agreement
may be waived (either generally or in a particular instance, either
retroactively or prospectively, and either for a specified period of time or
indefinitely) by such respective party. This Agreement may be amended only with
the written consent of a duly authorized representative of the Partnership and
Executive.

 

5.8.                              Governing Law. This Agreement shall be
governed by and construed in accordance with the laws of the State of New York.

 

5.9.                              CONSENT TO JURISDICTION.

 

(a)                                  EACH OF THE PARTIES HERETO HEREBY CONSENTS TO THE
EXCLUSIVE JURISDICTION OF ALL STATE AND FEDERAL COURTS LOCATED IN THE STATE OF
NEW YORK, AS WELL AS TO THE JURISDICTION OF ALL COURTS TO WHICH AN APPEAL MAY
BE TAKEN FROM SUCH COURTS, FOR THE PURPOSE OF ANY SUIT, ACTION OR OTHER
PROCEEDING ARISING OUT OF, OR IN CONNECTION WITH, THIS AGREEMENT OR ANY OF THE
TRANSACTIONS CONTEMPLATED HEREBY, INCLUDING, WITHOUT LIMITATION, ANY PROCEEDING
RELATING TO ANCILLARY MEASURES IN AID OF ARBITRATION, PROVISIONAL REMEDIES AND
INTERIM RELIEF, OR ANY PROCEEDING TO ENFORCE ANY ARBITRAL DECISION OR AWARD. EACH
PARTY HEREBY EXPRESSLY WAIVES ANY AND ALL RIGHTS TO BRING ANY SUIT, ACTION OR
OTHER PROCEEDING IN OR BEFORE ANY COURT OR TRIBUNAL OTHER THAN THE COURTS
DESCRIBED ABOVE AND COVENANTS THAT IT SHALL NOT SEEK IN ANY MANNER TO RESOLVE
ANY DISPUTE OTHER THAN AS SET FORTH IN THIS SECTION 5.9 OR TO CHALLENGE OR
SET ASIDE ANY DECISION, AWARD OR JUDGMENT OBTAINED IN ACCORDANCE WITH THE
PROVISIONS HEREOF.

 

(b)                                 EACH OF THE PARTIES HERETO HEREBY EXPRESSLY WAIVES ANY
AND ALL OBJECTIONS IT MAY HAVE TO VENUE, INCLUDING, WITHOUT LIMITATION, THE
INCONVENIENCE OF SUCH FORUM, IN ANY OF SUCH COURTS. IN ADDITION, EACH OF THE
PARTIES CONSENTS TO THE SERVICE OF PROCESS BY PERSONAL SERVICE OR ANY MANNER IN
WHICH 

 

12

 

NOTICES MAY BE DELIVERED HEREUNDER IN
ACCORDANCE WITH SECTION 5.13 OF THIS AGREEMENT.

 

5.10.                        Waiver of Jury Trial. EACH OF THE
PARTIES HERETO HEREBY VOLUNTARILY AND IRREVOCABLY WAIVES TRIAL BY JURY IN ANY
ACTION OR OTHER PROCEEDING BROUGHT IN CONNECTION WITH THIS AGREEMENT, ANY OF
THE OTHER DOCUMENTS OR ANY OF THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY.

 

5.11.                        Successors and Assigns. Except as
otherwise expressly provided herein, the provisions hereof shall inure to the
benefit of, and be binding upon, the successors, assigns, heirs, executors and
administrators of the parties hereto.

 

5.12.                        Entire Agreement. This Agreement and the Other Documents
constitute the full and entire understanding and agreement of the parties with
regard to the subjects hereof and supersedes in their entirety all other prior
agreements, whether oral or written, with respect thereto. This Agreement supersedes
all prior agreements and understandings (including verbal agreements) between
Executive and the Company regarding grants of equity, equity-based or
equity-related rights or instruments in any Company (including, for the avoidance
of doubt, any rights promised by Cendant Corporation or its Affiliates in
respect of any Company, except other agreements entered into on the date hereof
with respect to limited partnership interests in the Partnership.

 

5.13.                        Notices. All demands, notices,
requests, consents and other communications required or permitted under this
Agreement shall be in writing and shall be personally delivered or sent by
facsimile machine (with a confirmation copy sent by one of the other methods
authorized in this Section 5.13),
reputable commercial overnight delivery service (including Federal Express and
U.S. Postal Service overnight delivery service) or, deposited with the U.S.
Postal Service mailed first class, registered or certified mail, postage
prepaid, as set forth below:

 

If to the
Partnership, addressed to:

 

TDS Investor
(Cayman) L.P.

c/o Travelport Inc.

9 West 57th Street

New York, NY  10019

Attention:  Eric Bock, General Counsel

Fax:  (212) 413-1922

 

with a copy
which shall not constitute notice to:

 

The Blackstone
Group

345 Park Avenue

New York, New York 10154

Attention: Chip Schorr

Fax: +1 212 583 5712

 

13

 

with a copy
which shall not constitute notice to:

 

Simpson
Thacher & Bartlett LLP

425 Lexington Ave.

New York, NY 10017

Attention:  William Curbow and Greg
Grogan

Fax:  (212) 455-2502

 

If to
Executive, to the address set forth on the signature page of this Agreement or
at the current address listed in the Partnership’s records.

 

Notices shall
be deemed given upon the earlier to occur of (i) receipt by the party to
whom such notice is directed; (ii) if sent by facsimile machine, on the
day (other than a Saturday, Sunday or legal holiday in the jurisdiction to
which such notice is directed) such notice is sent if sent (as evidenced by the
facsimile confirmed receipt) prior to 5:00 p.m. Eastern Time and, if sent
after 5:00 p.m. Eastern Time, on the day (other than a Saturday, Sunday or
legal holiday in the jurisdiction to which such notice is directed) after which
such notice is sent; (iii) on the first business day (other than a
Saturday, Sunday or legal holiday in the jurisdiction to which such notice is
directed) following the day the same is deposited with the commercial courier
if sent by commercial overnight delivery service; or (iv) the fifth day
(other than a Saturday, Sunday or legal holiday in the jurisdiction to which
such notice is directed) following deposit thereof with the U.S. Postal Service
as aforesaid. Each party, by notice duly given in accordance therewith, may
specify a different address for the giving of any notice hereunder.

 

5.14.                        No Third Party Beneficiaries. There are
no third party beneficiaries of this Agreement.

 

5.15.                        Agreement Subject to Partnership Agreement and Plan.
By entering into this Agreement, Executive agrees and acknowledges that
Executive has received and read a copy of the Partnership Agreement and the
Plan and that the Subject Interests are subject to the Partnership Agreement
and the Plan. The terms and provisions of the Partnership Agreement and Plan as
may be amended from time to time are hereby incorporated by reference. In the
event of a conflict between any term or provision contained herein and a term
or provision of the Partnership Agreement or the Plan, the applicable terms and
provisions of the Partnership Agreement or the Plan will govern and prevail.

 

5.16.                        Equitable Adjustments. Notwithstanding
any other provisions in this Agreement, the Partnership Agreement or the Plan
to the contrary, in the event of any change in the outstanding Interests after
the date hereof by reason of any equity dividend or split, reorganization,
recapitalization, merger, consolidation, spin-off, combination, combination or
transaction or exchange of Interests or other corporate exchange, or any
distribution to Partners of equity or cash (other than regular cash
distributions) or any transaction similar to the foregoing (regardless of
whether outstanding Interests are changed) (collectively, “Adjustment
Events”), the General Partner in its sole discretion and without
liability to any Person shall make such substitution or adjustment, if any, as
it deems to be equitable (taking into consideration such matters, without
limitation, as relative value of each class of Interests and the Restricted
Equity Units, status of vesting and the nature of the Adjustment Event and its
impact on the Interests 

 

14

 

and the Restricted Equity Units) to the
Management Limited Partners as a group, as to (i) the number or kind of
Interests or other securities issued or reserved for issuance under the
Partnership Agreement, (ii) the vesting terms under this Agreement,
(iii) the distribution priorities contained in the Partnership Agreement
and/or (iv) any other affected terms hereunder.

 

5.17.                        Severability; Titles and Subtitles; Gender;
Singular and Plural; Counterparts; Facsimile.

 

(a)                                  In
case any provision of this Agreement shall be invalid, illegal or
unenforceable, the validity, legality and enforceability of the remaining
provisions of this Agreement shall not in any way be affected or impaired
thereby.

 

(b)                                 The
titles of the sections and subsections of this Agreement are for convenience of
reference only and are not to be considered in construing this Agreement.

 

(c)                                  The
use of any gender in this Agreement shall be deemed to include the other
genders, and the use of the singular in this Agreement shall be deemed to
include the plural (and vice versa), wherever appropriate.

 

(d)                                 This
Agreement may be executed in any number of counterparts, each of which shall be
an original, but all of which together constitute one instrument.

 

(e)                                  Counterparts
of this Agreement (or applicable signature pages hereof) that are manually
signed and delivered by facsimile transmission shall be deemed to constitute
signed original counterparts hereof and shall bind the parties signing and
delivering in such manner.

 

15

 

IN WITNESS
WHEREOF, the Partnership and Executive have executed this Agreement as of the
day and year first written above.

 

	
   

  	
   

  	
  COMPANY:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  TDS Investor (Cayman) L.P.

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  TDS Investor (Cayman) GP Ltd.,

  	
   

  
	
   

  	
   

  	
   

  	
  its general partner

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Eric Bock

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Eric Bock

  	
   

  
	
   

  	
   

  	
  Title:

  	
  Executive Vice President

  	
   

  
	
   

  	
   

  	
   

  	
  and Assistant Secretary

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  EXECUTIVE:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  /s/ Gordon Wilson

  	
   

  
	
   

  	
   

  	
  Name: Gordon Wilson

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
												

 

 

 

Exhibit A
– Interest Plan

 

(Distributed
Separately)Exhibit 10.16

 

[Execution Copy]

 

MANAGEMENT EQUITY AWARD AGREEMENT

(Class B, C and D Interests)

 

THIS
MANAGEMENT EQUITY AWARD AGREEMENT (“Agreement”)
is made as of October 13, 2006 by and between TDS Investor (Cayman) L.P., a
Cayman Islands limited partnership (the “Partnership”)
and the executive whose name is set forth on the signature page hereto (“Executive”).

 

RECITALS

 

The
Partnership has adopted the TDS Investor (Cayman) L.P. 2006 Interest Plan (the “Plan”), a copy of which is attached hereto as Exhibit A.  

 

In connection
with Executive’s employment by the Partnership or one of its Subsidiaries
(collectively, the “Company”), the
Partnership intends concurrently herewith (i) to allow Executive to become
a party to the Agreement of Limited Partnership (as amended, modified or
supplemented from time to time, the “Partnership Agreement”)
of the Partnership dated October 13, 2006 and (ii) to subscribe for the
number and classes of Interests (as defined in the Partnership Agreement) set
forth on the signature page hereto.  Upon
vesting in accordance with this Agreement, Unvested Interests shall
automatically convert to Vested Interests for purposes of the Partnership
Agreement.

 

NOW,
THEREFORE, in consideration of the foregoing premises and the mutual promises
set forth in this Agreement, and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties to this
Agreement, intending to be legally bound, agree as follows:

 

SECTION 1

DEFINITIONS

 

1.1.          Definitions.  Capitalized terms not otherwise defined
herein shall have the meanings ascribed to them in the Partnership
Agreement.  In addition to the terms
defined in the Partnership Agreement, the terms below shall have the following
respective meanings:

 

“Agreement” has the meaning specified in the
Introduction.

 

“Board” means the board of directors of the
General Partner (or, if applicable, any committee of the Board).

 

“Cause” shall have the meaning assigned such term in any
employment agreement entered into between any Company and Executive, provided
that if no such employment agreement exists or such term is not defined, then “Cause”
shall mean (A) Executive’s failure substantially to perform Executive’s duties
to the Company (other than as a result of total or partial incapacity due to
Disability) for a period of 10 days following receipt of written notice from
any Company by Executive of such failure; provided that it is understood that
this clause 

 

 

(A) shall not
apply if a Company terminates Executive’s employment because of dissatisfaction
with actions taken by Executive in the good faith performance of Executive’s
duties to the Company, (B) theft or embezzlement of property of the Company or
dishonesty in the performance of Executive’s duties to the Company, (C) an act
or acts on Executive’s part constituting (x) a felony under the laws of the
United States or any state thereof or (y) a crime involving moral turpitude,
(D) Executive’s willful malfeasance or willful misconduct in connection with
Executive’s duties or any act or omission which is materially injurious to the
financial condition or business reputation of the Company or its Affiliates, or
(E) Executive’s breach of the provisions of any agreed-upon non-compete,
non-solicitation or confidentiality provisions agreed to with the Company,
including pursuant to this Agreement and pursuant to any employment
agreement.  

 

“Company” has the meaning specified in the Recitals.

 

“Constructive Termination” shall have the
meaning assigned such term in any employment agreement entered into between any
Company and Executive, provided that if no such employment agreement exists or
such term is not defined, then “Constructive Termination” means (i) any
material reduction in Executive’s base salary or incentive compensation
opportunity (excluding any change in value of equity incentives or a reduction
affecting substantially all similarly situated executives) or (ii) failure of
the Company to pay compensation or benefits when due, in each case which is not
cured within 30 days following the Partnership’s receipt of written notice from
Executive describing the event constituting a Constructive Termination;
provided that any event that would otherwise constitute “Constructive
Termination” hereunder shall cease to constitute “Constructive Termination” on
the 30th day following the later of (x) the occurrence thereof
and (y) Executive’s knowledge thereof, unless Executive has given the
Partnership written notice thereof prior to such date.

 

“Disability” shall have the meaning assigned
such term in any employment agreement entered into between any Company and
Executive, provided that if no such employment agreement exists or such term is
not defined, then “Disability” shall mean Executive shall have become
physically or mentally incapacitated and is therefore unable for a period of
nine (9) consecutive months or for an aggregate of twelve (12) months in any
eighteen (18) consecutive month period to perform Executive’s duties under
Executive’s employment.  Any question as
to the existence of the Disability of Executive as to which Executive and the
Partnership cannot agree shall be determined in writing by a qualified
independent physician mutually acceptable to Executive and the Partnership.  If Executive and the Partnership cannot agree
as to a qualified independent physician, each shall appoint such a physician
and those two physicians shall select a third who shall make such determination
in writing.  The determination of Disability
made in writing to the Partnership and Executive shall be final and conclusive
for all purposes of this Agreement and any other agreement between any Company
and Executive that incorporates the definition of “Disability”.  

 

“Effective Date” means the date hereof.

 

“Exchange Act” shall mean the Securities Exchange Act of
1934, as amended.

 

“Executive” has the meaning specified in the
Introduction.

 

2

 

“Liquidity Event” means (i) the sale or sales by
Blackstone Partners, in one or a series of transactions, of at least 50% of
their aggregate Class A-1 Interests (and shares received in IPO
Corporation in exchange for Class A-1 Interests) to any Person or Persons
(other than an Affiliate; provided that portfolio operating companies shall not
be “Affiliates” for the purpose of this definition) in which the Blackstone
Partners receive cash or marketable securities (a “Sale
Liquidity Event”) or (ii) the distribution by the Blackstone
Partners, in one or a series of transactions, of at least 50% of their
aggregate Class A-1 Interests (and shares received in IPO Corporation in
exchange for Class A-1 Interests) to limited partners of the Blackstone
Partners (other than an Affiliate) (a “Distribution Liquidity
Event”).

 

“Other Documents”  means  the
Partnership Agreement, any other management equity award agreement between
Executive and the Partnership and any employment agreement by and between
Executive and any Partnership, in each case as amended, modified, supplemented
or restated from time to time in accordance with the terms thereof.

 

“Partnership” has the meaning specified in
the Introduction.

 

“Partnership Agreement”  has the meaning specified in the Recitals.

 

“Subject Interests” means the Class A-2
Interests, the Class B Interests, the Class C Interests and the
Class D Interests acquired by Executive pursuant to this Agreement and the
Partnership Agreement, whether such Subject Interests are Vested Interests or
Unvested Interests.

 

“Unvested Interests” means Subject Interests
owned by Executive that are subject to any vesting, forfeiture or similar
arrangement under this Agreement or the Partnership Agreement.

 

“Vested Interests” means Subject Interests
owned by Executive that are no longer subject to any vesting, forfeiture or
similar arrangement under this Agreement or the Partnership Agreement.

 

“Syndication Transaction” shall mean a Disposition by
Blackstone to any person or group of persons that are not Affiliates of the
Blackstone Group of its Class A-1 Interests that occurs at any time within
the first twelve (12) months following the Initial Closing Date at a sale price
that does not exceed 120% of the amount invested by Blackstone in the
Partnership in respect of such Class A-1 Interests.

 

SECTION 2

INTERESTS

 

2.1.          Interests.  Subject to the terms and conditions hereof
and subject to the terms and conditions of the Partnership Agreement, the
Partnership hereby allows Executive to become a party to the Partnership
Agreement as a Limited Partner having the number and class of Subject Interests
set forth on the signature page to this Agreement and sells and/or awards such
Subject Interests to Executive, and Executive purchases and/or accepts such
Subject Interests from the Partnership. 
Any contributions required by Executive in connection with the purchase
and/or 

 

3

 

acceptance of such Subject Interests shall be
made pursuant to the terms of the Partnership Agreement.

 

SECTION 3

VESTING

 

3.1.          Vesting
Schedule.  Subject to
Executive’s continued employment with the Company, the Subject Interests shall
vest and automatically convert to Vested Interests under the Partnership
Agreement as follows:

 

(a)           Class B Interests.  25% of the Class B Interests shall vest
and automatically convert to Vested Interests hereunder and under the
Partnership Agreement on each of the first, second, third and fourth
anniversaries of the Initial Closing Date (each date, a “Time  Vesting
Date”).  Notwithstanding the
foregoing in the event that:

 

(i)            a Change of Control occurs at a time
when Executive is employed by the Company, Executive shall thereupon be deemed
to have vested 100% into ownership of all Class B Interests immediately
prior to such Change of Control (and such Class B Interests shall
automatically convert to Vested Interests hereunder and under the Partnership
Agreement);

 

(ii)           Executive’s employment is terminated
for any reason, except as set forth, and to the extent provided, in Section
3.1(a)(iii)), Executive shall have no right to further vesting of the
Class B Interests that are Unvested Interests (and such Class B
Interests shall be Unvested Interests notwithstanding the provisions of this
Section 3.1(a)); and

 

(iii)          Executive’s employment with the
Company is terminated (x) by the Company without Cause, (y) as a result of
death or Disability or (z) by Executive as a result of a Constructive
Termination, Executive shall thereupon be deemed to have vested in the
Class B Interests that would have vested on the next Time Vesting Date
(and such Class B Interests shall automatically convert to Vested
Interests hereunder and under the Partnership Agreement). 

 

(b)           Class C Interests.  Class C Interests shall vest and
automatically convert to Vested Interests hereunder and under the Partnership
Agreement upon the occurrence of a Liquidity Event in which (x) in the
case of a Sale Liquidity Event, Blackstone shall have received, in respect of
its Class A-1 Interests held on the date of this Agreement (excluding any
Class A-1 Interests Disposed of in connection with a Syndication
Transaction), cash or other marketable securities (whether through
distributions under the Partnership Agreement in respect of such Class A-1
Interests or Dispositions of such Class A-1 Interests) with a fair market
value equal to 200% of the amount invested by Blackstone in the Partnership in
respect of such Class A-1 Interests (excluding any Class A-1 Interests
Disposed of in connection with a Syndication Transaction) or (y) in the
case of a Distribution Liquidity Event, the Class A-1 Interests distributed
have a fair market value equal to 200% of the amount invested by Blackstone in
the Partnership in respect of such Class A-1 Interests (excluding any
Class A-1 

 

4

 

Interests Disposed of in connection with a
Syndication Transaction). 
Notwithstanding the foregoing in the event that:

 

(i)            Executive’s employment with the
Company is terminated for any reason, except as set forth, and to the extent
provided, in Section 3.1(b)(ii)), Executive shall have no right to further
vesting of the Class C Interests that are Unvested Interests (and such
Class C Interests shall be Unvested Interests notwithstanding the
provisions of this Section 3.1(b)); and

 

(ii)           Executive’s employment with the
Company is terminated (x) by the Company without Cause, (y) as a result of
death or Disability or (z) by Executive as a result of a Constructive
Termination, a percentage of Executive’s Class C Interests that are then
Unvested Interests shall thereupon be deemed vested in an amount equal to the
percentage of Executive’s original Class B Interests that became Vested
Interests pursuant to Section 3.1(a) at the time of such termination (but
giving effect to Section 3.1(a)(iii)) (any Class C Interests that
become Vested Interests as a result of this Section 3.1(b)(ii) shall be
referred to as “Accelerated Class C
Interests”). 

 

(c)           Class D Interests.  Class D Interests shall vest and
automatically convert to Vested Interests hereunder and under the Partnership
Agreement upon the occurrence of a Liquidity Event in which (x) in the
case of a Sale Liquidity Event, Blackstone shall have received, in respect of
its Class A-1 Interests held on the date of this Agreement (excluding any
Class A-1 Interests Disposed of in connection with a Syndication
Transaction), cash or other marketable securities (whether through
distributions under the Partnership Agreement in respect of such Class A-1
Interests or Dispositions of such Class A-1 Interests) with a fair market
value equal to 300% of the amount invested by Blackstone in the Partnership in
respect of such Class A-1 Interests (excluding any Class A-1
Interests Disposed of in connection with a Syndication Transaction) or
(y) in the case of a Distribution Liquidity Event, the Class A-1
Interests distributed have a fair market value equal to 300% of the amount
invested by Blackstone in the Partnership in respect of such Class A-1
Interests (excluding any Class A-1 Interests Disposed of in connection
with a Syndication Transaction). 
Notwithstanding the foregoing in the event that:

 

(i)            Executive’s employment with the
Company is terminated for any reason, except as set forth, and to the extent
provided, in Section 3.1(c)(ii)), Executive shall have no right to further
vesting of the Class D Interests that are Unvested Interests (and such
Class D Interests shall be Unvested Interests notwithstanding the
provisions of this Section 3.1(c)); and

 

(ii)           Executive’s employment with the
Company is terminated (x) by the Company without Cause, (y) as a result of
death or Disability or (z) by Executive as a result of a Constructive
Termination, a percentage of Executive’s Class D Interests that are then
Unvested Interests shall thereupon be deemed vested in an amount equal to the
percentage of Executive’s original Class B Interests that became Vested
Interests pursuant to Section 3.1(a) at the time of such termination (but
giving effect to Section 3.1(a)(iii)) (any Class D Interests that
become Vested Interests as a result of this 

 

5

 

Section 3.1(c)(ii) shall be referred to
as “Accelerated Class D Interests”
and, together with the Accelerated Class C Interests, the “Accelerated Interests”). 

 

3.2.          Forfeiture;
Call Rights; Put Rights; Voting; Power of Attorney.  

 

(a)           Executive acknowledges and affirms
the provisions of Article XII of the Partnership Agreement and hereby
agrees that all of the provisions of Article XII of the Partnership
Agreement are hereby incorporated by reference into this Agreement.  

 

(b)           Executive further agrees that if any
provision in Article XII of the Partnership Agreement shall be held invalid,
illegal or unenforceable under the laws of the Cayman Islands, the validity,
legality and enforceability of such corresponding provisions in this Agreement
shall not in any way be affected or impaired thereby.  

 

(c)           Notwithstanding the foregoing or
anything to the contrary in the Partnership Agreement, the purchase price
payable under this Section 3.2 or Article XII of the Partnership Agreement
for Accelerated Interests shall be the same price that would be payable if such
Accelerated Interests were Class B Interests that were Vested Interests.

 

SECTION 4

NON-COMPETITION AND CONFIDENTIALITY

 

4.1.          Non-Competition.

 

(a)           From the date hereof while employed
by the Company and for a two-year period following the date Executive ceases to
be employed by the Company (the “Restricted Period”), irrespective of the
cause, manner or time of any termination, Executive shall not use his status
with any Company or any of its Affiliates to obtain loans, goods or services
from another organization on terms that would not be available to him in the
absence of his relationship to the Company or any of its Affiliates.

 

(b)           During the Restricted Period,
Executive shall not make any statements or perform any acts intended to or
which may have the effect of advancing the interest of any Competitors of the
Company or any of its Affiliates or in any way injuring the interests of the
Company or any of its Affiliates and the Company and its Affiliates shall not
make or authorize any person to make any statement that would in any way injure
the personal or business reputation or interests of Executive; provided
however, that, subject to Section 4.2, nothing herein shall preclude the Company
and its Affiliates or Executive from giving truthful testimony under oath in
response to a subpoena or other lawful process or truthful answers in response
to questions from a government investigation; provided, further, however, that
nothing herein shall prohibit the Company and its Affiliates from disclosing
the fact of any termination of Executive’s employment or the circumstances for
such a termination.  For purposes of this
Section 4.1(b), the term “Competitor”
means any enterprise or business that is engaged in, or has plans to engage in,
at any time during the Restricted Period, any activity that competes with the
businesses conducted during or at the termination of Executive’s employment, or
then proposed to be conducted, by the Company and its Affiliates in a manner
that is or would be material in relation to the businesses of the Company or
the prospects for the businesses of the 

 

6

 

Company (in each case, within 100 miles of
any geographical area where the Company or its Affiliates manufactures,
produces, sells, leases, rents, licenses or otherwise provides its products or
services).  During the Restricted Period,
Executive, without prior express written approval by the Board, shall not (A)
engage in, or directly or indirectly (whether for compensation or otherwise)
manage, operate, or control, or join or participate in the management,
operation or control of a Competitor, in any capacity (whether as an employee,
officer, director, partner, consultant, agent, advisor, or otherwise) or (B)
develop, expand or promote, or assist in the development, expansion or
promotion of, any division of an enterprise or the business intended to become
a Competitor at any time after the end of the Restricted Period or (C) own or
hold a Proprietary Interest in, or directly furnish any capital to, any
Competitor of the Company.  Executive
acknowledges that the Company’s and its Affiliates businesses are conducted
nationally and internationally and agrees that the provisions in the foregoing
sentence shall operate throughout the United States and the world (subject to
the definition of “Competitor”).

 

(c)           During the Restricted Period,
Executive, without express prior written approval from the Board, shall not
solicit any members or the then current clients of the Company or any of its
Affiliates for any existing business of the Company or any of its Affiliates or
discuss with any employee of the Company or any of its Affiliates information
or operations of any business intended to compete with the Company or any of
its Affiliates.

 

(d)           During the Restricted Period,
Executive shall not interfere with the employees or affairs of the Company or
any of its Affiliates or solicit or induce any person who is an employee of the
Company or any of its Affiliates to terminate any relationship such person may
have with the Company or any of its Affiliates, nor shall Executive during such
period directly or indirectly engage, employ or compensate, or cause or permit
any Person with which Executive may be Affiliated, to engage, employ or
compensate, any employee of the Company or any of its Affiliates.

 

(e)           For the purposes of this Agreement, “Proprietary
Interest” means any legal, equitable or other ownership, whether through stock
holding or otherwise, of an interest in a business, firm or entity; provided,
that ownership of less than 5% of any class of equity interest in a publicly
held company shall not be deemed a Proprietary Interest.

 

(f)            The period of time during which the
provisions of this Section 4.1 shall be in effect shall be extended by the
length of time during which Executive is in breach of the terms hereof as
determined by any court of competent jurisdiction on the Company’s application
for injunctive relief.

 

(g)           Executive
agrees that the restrictions contained in this Section 4.1 are an essential
element of the compensation Executive is granted hereunder and but for
Executive’s agreement to comply with such restrictions, the Company would not
have entered into this Agreement.

 

(h)           It
is expressly understood and agreed that although Executive and the Company
consider the restrictions contained in this Section 4.1 to be reasonable, if a
final judicial determination is made by a court of competent jurisdiction that
the time or territory or any other restriction contained in this Agreement is
an unenforceable restriction against 

 

7

 

Executive, the provisions of this Agreement
shall not be rendered void but shall be deemed amended to apply as to such
maximum time and territory and to such maximum extent as such court may
judicially determine or indicate to be enforceable.  Alternatively, if any court of competent
jurisdiction finds that any restriction contained in this Agreement is unenforceable,
and such restriction cannot be amended so as to make it enforceable, such
finding shall not affect the enforceability of any of the other restrictions
contained herein.

 

4.2.          Confidentiality.  

 

(a)           Executive will not at any time
(whether during or after Executive’s employment with the Company) (x) retain or
use for the benefit, purposes or account of Executive or any other Person; or
(y) disclose, divulge, reveal, communicate, share, transfer or provide access
to any Person outside the Company (other than its professional advisers who are
bound by confidentiality obligations), any non-public, proprietary or
confidential information (including without limitation trade secrets, know-how,
research and development, software, databases, inventions, processes, formulae,
technology, designs and other intellectual property, information concerning
finances, investments, profits, pricing, costs, products, services, vendors,
customers, clients, partners, investors, personnel, compensation, recruiting, training,
advertising, sales, marketing, promotions, government and regulatory activities
and approvals) concerning the past, current or future business, activities and
operations of the Company or its Affiliates and/or any third party that has
disclosed or provided any of same to the Company on a confidential basis (“Confidential
Information”) without the prior written authorization of the Board.

 

(b)           “Confidential Information” shall not
include any information that is (i) generally known to the industry or the
public other than as a result of Executive’s breach of this covenant or any
breach of other confidentiality obligations by third parties; (ii) made
legitimately available to Executive by a third party without breach of any
confidentiality obligation; or (iii) required by law to be disclosed; provided
that Executive shall give prompt written notice to the Company of such
requirement, disclose no more information than is so required, and cooperate,
at the Company’s cost, with any attempts by the Company to obtain a protective
order or similar treatment.

 

(c)           Except
as required by law, Executive will not disclose to anyone, other than Executive’s
immediate family and legal or financial advisors, the existence or contents of
this Agreement (unless this Agreement shall be publicly available as a result
of a regulatory filing made by the Company or its Affiliates); provided
that Executive may disclose to any prospective future employer the provisions
of Section 4 of this Agreement provided they agree to maintain the
confidentiality of such terms.

 

(d)           Upon
termination of Executive’s employment with the Company for any reason,
Executive shall (x) cease and not thereafter commence use of any Confidential
Information or intellectual property (including without limitation, any patent,
invention, copyright, trade secret, trademark, trade name, logo, domain name or
other source indicator) owned or used by the Company or its Affiliates; (y)
immediately destroy, delete, or return to the Company, at the Company’s option,
all originals and copies in any form or medium (including memoranda, books,
papers, plans, computer files, letters and other data) in Executive’s 

 

8

 

possession or control (including any of the
foregoing stored or located in Executive’s office, home, laptop or other
computer, whether or not Company property) that contain Confidential
Information or otherwise relate to the business of the Company and its
Affiliates, except that Executive may retain only those portions of any
personal notes, notebooks and diaries that do not contain any Confidential
Information; and (z) notify and fully cooperate with the Company regarding the
delivery or destruction of any other Confidential Information of which
Executive is or becomes aware.   

 

4.3.          Intellectual Property.    

 

(a)           If
Executive has created, invented, designed, developed, contributed to or
improved any works of authorship, inventions, intellectual property, materials,
documents or other work product (including without limitation, research,
reports, software, databases, systems, applications, presentations, textual
works, content, or audiovisual materials) (“Works”), either alone or with third
parties, prior to Executive’s employment by the Company, that are relevant to
or implicated by such employment (“Prior Works”), Executive hereby grants the
Company a perpetual, non-exclusive, royalty-free, worldwide, assignable,
sublicensable license under all rights and intellectual property rights
(including rights under patent, industrial property, copyright, trademark,
trade secret, unfair competition and related laws) therein for all purposes in
connection with the Company’s current and future business.  

 

(b)           If
Executive creates, invents, designs, develops, contributes to or improves any
Works, either alone or with third parties, at any time during Executive’s
employment by the Company and within the scope of such employment and/or with
the use of any the Company resources (“Company Works”), Executive shall
promptly and fully disclose same to the Company and hereby irrevocably assigns,
transfers and conveys, to the maximum extent permitted by applicable law, all
rights and intellectual property rights therein (including rights under patent,
industrial property, copyright, trademark, trade secret, unfair competition and
related laws) to the Company to the extent ownership of any such rights does
not vest originally in the Company.  

 

(c)           Executive
agrees to keep and maintain adequate and current written records (in the form of
notes, sketches, drawings, and any other form or media requested by the
Company) of all Company Works.  The
records will be available to and remain the sole property and intellectual
property of the Company at all times.

 

(d)           Executive
shall take all requested actions and execute all requested documents (including
any licenses or assignments required by a government contract) at the Company’s
expense (but without further remuneration) to assist the Company in validating,
maintaining, protecting, enforcing, perfecting, recording, patenting or
registering any of the Company’s rights in the Prior Works and Company
Works.  If the Company is unable for any
other reason to secure Executive’s signature on any document for this purpose,
then Executive hereby irrevocably designates and appoints the Company and its
duly authorized officers and agents as Executive’s agent and attorney in fact,
to act for and in Executive’s behalf and stead to execute any documents and to
do all other lawfully permitted acts in connection with the foregoing.

 

9

 

(e)           Executive
shall not improperly use for the benefit of, bring to any premises of, divulge,
disclose, communicate, reveal, transfer or provide access to, or share with the
Company any confidential, proprietary or non-public information or intellectual
property relating to a former employer or other third party without the prior
written permission of such third party. 
Executive hereby indemnifies, holds harmless and agrees to defend the
Company and its officers, directors, partners, employees, agents and
representatives from any breach of the foregoing covenant.  Executive shall comply with all relevant
policies and guidelines of the Company, including regarding the protection of confidential
information and intellectual property and potential conflicts of interest.  Executive acknowledges that the Company may
amend any such policies and guidelines from time to time, and that Executive
remains at all times bound by their most current version.  

 

4.4.          Specific Performance.  Executive acknowledges and agrees that the
Partnership’s remedies at law for a breach or threatened breach of any of the
provisions of this Section 4 would be inadequate and the Partnership would
suffer irreparable damages as a result of such breach or threatened
breach.  In recognition of this fact,
Executive agrees that, in the event of such a breach or threatened breach, in
addition to any remedies at law, the Partnership, without posting any bond,
shall be entitled to cease making any payments or providing any benefit
otherwise required by this Agreement and obtain equitable relief in the form of
specific performance, temporary restraining order, temporary or permanent
injunction or any other equitable remedy which may then be available.  Without limiting the generality of the
foregoing, neither party shall oppose any motion the other party may make for
any expedited discovery or hearing in connection with any alleged breach of
this Section 4.

 

4.5.          Survival.  The provisions of this Section 4 shall
survive the termination of Executive’s employment for any reason.

 

SECTION 5

MISCELLANEOUS

 

5.1.          Tax
Issues.  THE ISSUANCE OF
THE SUBJECT INTERESTS TO EXECUTIVE PURSUANT TO THIS AGREEMENT INVOLVES COMPLEX
AND SUBSTANTIAL TAX CONSIDERATIONS, INCLUDING, WITHOUT LIMITATION,
CONSIDERATION OF THE ADVISABILITY OF EXECUTIVE MAKING AN ELECTION UNDER SECTION
83(B) OF THE CODE.  EXECUTIVE
ACKNOWLEDGES THAT HE HAS CONSULTED HIS OWN TAX ADVISOR WITH RESPECT TO THE
TRANSACTIONS DESCRIBED IN THIS AGREEMENT. 
THE COMPANY MAKES NO WARRANTIES OR REPRESENTATIONS
WHATSOEVER TO EXECUTIVE REGARDING THE TAX CONSEQUENCES OF EXECUTIVE’S PURCHASE
OF THE SUBJECT INTERESTS OR THIS AGREEMENT.  EXECUTIVE ACKNOWLEDGES AND AGREES THAT
EXECUTIVE SHALL BE SOLELY RESPONSIBLE FOR ANY TAXES ON THE SUBJECT INTERESTS
AND SHALL HOLD THE COMPANY, ITS OFFICERS, DIRECTORS AND EMPLOYEES HARMLESS FROM
ANY LIABILITY ARISING FROM ANY TAXES INCURRED BY EXECUTIVE IN CONNECTION WITH
THE SUBJECT INTERESTS.

 

10

 

5.2.          Employment
of Executive.  Executive
acknowledges that he is employed by the Partnership or its Affiliates subject
to the terms of his employment agreement with the Partnership (if any).   Any
change of Executive’s duties as an employee of the Company shall not result in
a modification of the terms of this Agreement.

 

5.3.          Transferees.  Each and every transferee or assignee of
Subject Interests from Executive shall be bound by and subject to all the terms
and conditions of this Agreement on the same basis as Executive is bound (and
every subsequent transferee shall also be so bound).  So long as this Agreement is in effect, no
Disposition of any Subject Interests shall be effective unless the transferee
agrees in writing to be bound by, and subject to, the provisions of this
Agreement upon the same terms applicable to Executive.

 

5.4.          Withholding;
Setoff.  The Company shall
have the right and is hereby authorized to withhold from any payment due or
transfer made under this Agreement or from any compensation or other amount
owing to Executive the amount of any applicable withholding taxes in respect of
the Subject Interests or any payment or transfer with respect to the Subject
Interests and to take such action as may be necessary in the opinion of the
Partnership to satisfy all obligations for the payment of such taxes.  The Partnership’s obligation to pay Executive
the amounts provided and to make the arrangements provided hereunder and under
the Partnership Agreement shall be subject to set off, counterclaim or
recoupment of amounts owed by such Executive (or any Affiliate of such
Executive (or any of its Relatives) that is Controlled by such Executive (or
any of its Relatives)) to the Partnership or its Affiliates (including without
limitation amounts owed pursuant to the Partnership Agreement).

 

5.5.          Compliance with IRC
Section 409A.  Notwithstanding anything herein to the
contrary, (i) if at the time Executive is a “specified employee” as defined in
Section 409A of the Code and the deferral of the commencement of any payments
or benefits otherwise payable hereunder is necessary in order to prevent any
accelerated or additional tax under Section 409A of the Code, then the Company
will defer the commencement of the payment of any such payments or benefits
hereunder (without any reduction in such payments or benefits ultimately paid
or provided to Executive) until the date that is six months following Executive’s
termination of employment with the Company (or the earliest date as is
permitted under Section 409A of the Code) and (ii) if any other payments of
money or other benefits due to Executive hereunder could cause the application
of an accelerated or additional tax under Section 409A of the Code, such
payments or other benefits shall be deferred if deferral will make such payment
or other benefits compliant under Section 409A of the Code, or otherwise such
payment or other benefits shall be restructured, to the extent possible, in a
manner, determined by the Board, that does not cause such an accelerated or
additional tax.  The Company shall
consult with Executive in good faith regarding the implementation of the
provisions of this Section 5.5; provided that neither the Company nor any of
its employees or representatives shall have any liability to Executive with
respect to thereto.

 

5.6.          Remedies.

 

(a)           The rights and remedies provided by
this Agreement are cumulative and the use of any one right or remedy by any
party shall not preclude or waive its right to use any or 

 

11

 

all other remedies.  These rights and remedies are given in
addition to any other rights the parties may have at law or in equity.

 

(b)           Except where a time period is
otherwise specified, no delay on the part of any party in the exercise of any
right, power, privilege or remedy hereunder shall operate as a waiver thereof,
nor shall any exercise or partial exercise of any such right, power, privilege
or remedy preclude any further exercise thereof or the exercise of any right,
power, privilege or remedy.

 

5.7.          Waivers
and Amendments.  The
respective rights and obligations of the Partnership and Executive under this
Agreement may be waived (either generally or in a particular instance, either
retroactively or prospectively, and either for a specified period of time or
indefinitely) by such respective party. 
This Agreement may be amended only with the written consent of a duly
authorized representative of the Partnership and Executive.

 

5.8.          Governing
Law.  This Agreement shall
be governed by and construed in accordance with the laws of the State of New
York.

 

5.9.          CONSENT TO JURISDICTION.

 

(a)           EACH
OF THE PARTIES HERETO HEREBY CONSENTS TO THE EXCLUSIVE JURISDICTION OF ALL
STATE AND FEDERAL COURTS LOCATED IN THE STATE OF NEW YORK, AS WELL AS TO THE
JURISDICTION OF ALL COURTS TO WHICH AN APPEAL MAY BE TAKEN FROM SUCH COURTS,
FOR THE PURPOSE OF ANY SUIT, ACTION OR OTHER PROCEEDING ARISING OUT OF, OR IN
CONNECTION WITH, THIS AGREEMENT OR ANY OF THE TRANSACTIONS CONTEMPLATED HEREBY,
INCLUDING, WITHOUT LIMITATION, ANY PROCEEDING RELATING TO ANCILLARY MEASURES IN
AID OF ARBITRATION, PROVISIONAL REMEDIES AND INTERIM RELIEF, OR ANY PROCEEDING
TO ENFORCE ANY ARBITRAL DECISION OR AWARD. 
EACH PARTY HEREBY EXPRESSLY WAIVES ANY AND ALL RIGHTS TO BRING ANY SUIT,
ACTION OR OTHER PROCEEDING IN OR BEFORE ANY COURT OR TRIBUNAL OTHER THAN THE
COURTS DESCRIBED ABOVE AND COVENANTS THAT IT SHALL NOT SEEK IN ANY MANNER TO
RESOLVE ANY DISPUTE OTHER THAN AS SET FORTH IN THIS SECTION 5.9 OR TO
CHALLENGE OR SET ASIDE ANY DECISION, AWARD OR JUDGMENT OBTAINED IN ACCORDANCE
WITH THE PROVISIONS HEREOF.

 

(b)           EACH
OF THE PARTIES HERETO HEREBY EXPRESSLY WAIVES ANY AND ALL OBJECTIONS IT MAY
HAVE TO VENUE, INCLUDING, WITHOUT LIMITATION, THE INCONVENIENCE OF SUCH FORUM,
IN ANY OF SUCH COURTS.  IN ADDITION, EACH
OF THE PARTIES CONSENTS TO THE SERVICE OF PROCESS BY PERSONAL SERVICE OR ANY
MANNER IN WHICH NOTICES MAY BE DELIVERED HEREUNDER IN ACCORDANCE WITH SECTION
5.13 OF THIS AGREEMENT.

 

12

 

5.10.        Waiver
of Jury Trial.  EACH OF
THE PARTIES HERETO HEREBY VOLUNTARILY AND IRREVOCABLY WAIVES TRIAL BY JURY IN
ANY ACTION OR OTHER PROCEEDING BROUGHT IN CONNECTION WITH THIS AGREEMENT, ANY
OF THE OTHER DOCUMENTS OR ANY OF THE TRANSACTIONS CONTEMPLATED HEREBY OR
THEREBY.

 

5.11.        Successors
and Assigns.  Except as
otherwise expressly provided herein, the provisions hereof shall inure to the
benefit of, and be binding upon, the successors, assigns, heirs, executors and
administrators of the parties hereto.

 

5.12.        Entire Agreement.  This Agreement and the Other Documents
constitute the full and entire understanding and agreement of the parties with
regard to the subjects hereof and supersedes in their entirety all other prior
agreements, whether oral or written, with respect thereto.  This Agreement supersedes all prior agreements and
understandings (including verbal agreements) between Executive and the Company
regarding grants of equity, equity-based or equity-related rights or
instruments in any Company (including, for the avoidance of doubt, any rights
promised by Cendant Corporation or its Affiliates in respect of any Company,
except other agreements entered into on the date hereof with respect to limited
partnership interests in the Partnership.

 

5.13.        Notices.  All demands, notices, requests, consents and
other communications required or permitted under this Agreement shall be in
writing and shall be personally delivered or sent by facsimile machine (with a
confirmation copy sent by one of the other methods authorized in this Section 5.13), reputable commercial
overnight delivery service (including Federal Express and U.S. Postal Service
overnight delivery service) or, deposited with the U.S. Postal Service mailed
first class, registered or certified mail, postage prepaid, as set forth below:

 

If to the
Partnership, addressed to:

 

TDS Investor
(Cayman) L.P.

c/o Travelport Inc.

9 West 57th Street

New York, NY  10019

Attention:  Eric Bock, General Counsel

Fax:  (212) 413-1922

 

with a copy
which shall not constitute notice to:

 

The Blackstone
Group

345 Park Avenue

New York, New York 10154

Attention: Chip Schorr

Fax: +1 212 583 5712

 

13

 

with a copy
which shall not constitute notice to:

 

Simpson
Thacher & Bartlett LLP

425 Lexington Ave.

New York, NY 10017

Attention:  William Curbow and Greg
Grogan

Fax:  (212) 455-2502

 

If to
Executive, to the address set forth on the signature page of this Agreement or
at the current address listed in the Partnership’s records.

 

Notices shall
be deemed given upon the earlier to occur of (i) receipt by the party to
whom such notice is directed; (ii) if sent by facsimile machine, on the
day (other than a Saturday, Sunday or legal holiday in the jurisdiction to
which such notice is directed) such notice is sent if sent (as evidenced by the
facsimile confirmed receipt) prior to 5:00 p.m. Eastern Time and, if sent
after 5:00 p.m. Eastern Time, on the day (other than a Saturday, Sunday or
legal holiday in the jurisdiction to which such notice is directed) after which
such notice is sent; (iii) on the first business day (other than a
Saturday, Sunday or legal holiday in the jurisdiction to which such notice is
directed) following the day the same is deposited with the commercial courier
if sent by commercial overnight delivery service; or (iv) the fifth day
(other than a Saturday, Sunday or legal holiday in the jurisdiction to which
such notice is directed) following deposit thereof with the U.S. Postal Service
as aforesaid.  Each party, by notice duly
given in accordance therewith, may specify a different address for the giving
of any notice hereunder.

 

5.14.        No
Third Party Beneficiaries. 
There are no third party beneficiaries of this Agreement.

 

5.15.        Agreement
Subject to Partnership Agreement and Plan.  By entering into this Agreement, Executive
agrees and acknowledges that Executive has received and read a copy of the
Partnership Agreement and the Plan and that the Subject Interests are subject
to the Partnership Agreement and the Plan. 
The terms and provisions of the Partnership Agreement and Plan as may be
amended from time to time are hereby incorporated by reference.  In the event of a conflict between any term
or provision contained herein and a term or provision of the Partnership
Agreement or the Plan, the applicable terms and provisions of the Partnership
Agreement or the Plan will govern and prevail.

 

5.16.        Equitable Adjustments.  Notwithstanding any other provisions in this
Agreement, the Partnership Agreement or the Plan to the contrary, in the event
of any change in the outstanding Interests after the date hereof by reason of
any equity dividend or split, reorganization, recapitalization, merger,
consolidation, spin-off, combination, combination or transaction or exchange of
Interests or other corporate exchange, or any distribution to Partners of
equity or cash (other than regular cash distributions) or any transaction
similar to the foregoing (regardless of whether outstanding Interests are
changed) (collectively, “Adjustment Events”),
the General Partner in its sole discretion and without liability to any Person
shall make such substitution or adjustment, if any, as it deems to be equitable
(taking into consideration such matters, without limitation, as relative value
of each class of Interests and the Restricted Equity Units, status of vesting
and the nature of the Adjustment Event and its impact on the Interests 

 

14

 

and the Restricted Equity Units) to the
Management Limited Partners as a group, as to (i) the number or kind of
Interests or other securities issued or reserved for issuance under the
Partnership Agreement, (ii) the vesting terms under this Agreement,
(iii) the distribution priorities contained in the Partnership Agreement
and/or (iv) any other affected terms hereunder.

 

5.17.        Severability; Titles and
Subtitles; Gender; Singular and Plural; Counterparts; Facsimile.

 

(a)           In case any provision of this
Agreement shall be invalid, illegal or unenforceable, the validity, legality
and enforceability of the remaining provisions of this Agreement shall not in
any way be affected or impaired thereby.

 

(b)           The titles of the sections and
subsections of this Agreement are for convenience of reference only and are not
to be considered in construing this Agreement.

 

(c)           The use of any gender in this
Agreement shall be deemed to include the other genders, and the use of the
singular in this Agreement shall be deemed to include the plural (and vice
versa), wherever appropriate.

 

(d)           This Agreement may be executed in any
number of counterparts, each of which shall be an original, but all of which
together constitute one instrument.

 

(e)           Counterparts of this Agreement (or
applicable signature pages hereof) that are manually signed and delivered by
facsimile transmission shall be deemed to constitute signed original
counterparts hereof and shall bind the parties signing and delivering in such
manner.

 

15

 

IN WITNESS
WHEREOF, the Partnership and Executive have executed this Agreement as of the
day and year first written above.

 

	
   

  	
  COMPANY:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  TDS Investor (Cayman) L.P.

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  TDS Investor (Cayman) GP Ltd.,

  	
   

  
	
   

  	
   

  	
  its general partner

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  EXECUTIVE:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Name: Patrick Bourke

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
										

 

 

IN WITNESS
WHEREOF, the Partnership and Executive have executed this Agreement as of the
day and year first written above.

 

	
   

  	
  COMPANY:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  TDS Investor (Cayman) L.P.

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  TDS Investor (Cayman) GP Ltd.,

  	
   

  
	
   

  	
   

  	
  its general partner

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  EXECUTIVE:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Name: Steve Barnhart

  	
   

  
					

 

 

IN WITNESS
WHEREOF, the Partnership and Executive have executed this Agreement as of the
day and year first written above.

 

	
   

  	
  COMPANY:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  TDS Investor (Cayman) L.P.

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  TDS Investor (Cayman) GP Ltd.,

  	
   

  
	
   

  	
   

  	
  its general partner

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  EXECUTIVE:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Name: JoAnne Kruse

  	
   

  
					

 

 

IN WITNESS
WHEREOF, the Partnership and Executive have executed this Agreement as of the
day and year first written above.

 

	
   

  	
  COMPANY:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  TDS Investor (Cayman) L.P.

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  TDS Investor (Cayman) GP Ltd.,

  	
   

  
	
   

  	
   

  	
  its general partner

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  EXECUTIVE:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Name: Eric Bock

  	
   

  
					

 

 

IN WITNESS
WHEREOF, the Partnership and Executive have executed this Agreement as of the
day and year first written above.

 

	
   

  	
  COMPANY:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  TDS Investor (Cayman) L.P.

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  TDS Investor (Cayman) GP Ltd.,

  	
   

  
	
   

  	
   

  	
  its general partner

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  EXECUTIVE:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Name: Kenneth Esterow

  	
   

  
					

 

 

IN WITNESS
WHEREOF, the Partnership and Executive have executed this Agreement as of the
day and year first written above.

 

	
   

  	
  COMPANY:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  TDS Investor (Cayman) L.P.

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  TDS Investor (Cayman) GP Ltd.,

  	
   

  
	
   

  	
   

  	
  its general partner

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  EXECUTIVE:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Name: Jeff Clarke

  	
   

  
					

 

 

Exhibit A
– Interest Plan

 

(Distributed
Separately)

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00122-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00122-of-00352.parquet"}]]