Document:

exv4w1

Exhibit 4.1

          ASSUMPTION AND JOINDER AGREEMENT (this “Agreement”), dated as of June 1, 2010, between
XM 1500 ECKINGTON LLC, a Delaware limited liability company and wholly owned subsidiary of the
Company (as defined in the Collateral Agreement referred to herein) and XM INVESTMENT LLC, a
Delaware limited liability company and wholly owned subsidiary of the Company (with XM 1500
ECKINGTON LLC, each a “New Subsidiary”) to the Collateral Agreement, dated as of December
31, 2009 (as amended, restated, supplemented, or otherwise modified from time to time, the
“Collateral Agreement”), among XM Satellite Radio Inc., certain Subsidiaries (as defined in
the Collateral Agreement) of the Company party thereto (collectively with the Company, the
“Grantors”) and U.S. Bank National Association (“U.S. Bank”), as Collateral Agent.

     A. Reference is made to the Indenture dated as of June 30, 2009 (as amended,
supplemented or otherwise modified from time to time, the “Indenture”), between the
Company and U.S. Bank, as Trustee.

     B. Capitalized terms used herein and not otherwise defined herein shall have the
meanings assigned to such terms in the Collateral Agreement and the Indenture referred to
therein.

     C. Section 7.14 of the Collateral Agreement provides that additional Subsidiaries
of
the Company may become Grantors under the Collateral Agreement by execution and delivery of
an instrument substantially in the form of this Agreement. Each New Subsidiary is executing this
Agreement in accordance with the requirements of the Indenture to become a Grantor under the
Collateral Agreement as consideration for Notes previously issued and purchased.

          Accordingly, the Collateral Agent and each New Subsidiary agree as follows:

          SECTION 1. In accordance with Section 7.14 of the Collateral Agreement, each New Subsidiary
by its signature below becomes a Grantor under the Collateral Agreement with the same force and
effect as if originally named therein as a Grantor and each New Subsidiary hereby (a) agrees to
all the terms and provisions of the Collateral Agreement applicable to it as a Grantor and (b)
represents and warrants that the representations and warranties made by it as a Grantor thereunder
are true and correct on and as of the date hereof. In furtherance of the foregoing, each New
Subsidiary, as security for the payment and performance in full of the Secured Obligations does
hereby create and grant to the Collateral Agent, its successors and assigns, for the benefit of
the Secured Parties, their successors and assigns, a security interest in and lien on all of such
New Subsidiary’s right, title and interest in and to the Collateral of the New Subsidiary. Each
reference to a “Grantor” in the Collateral Agreement shall be deemed to include each New
Subsidiary. The Collateral Agreement is hereby incorporated herein by reference.

          SECTION 2. Each New Subsidiary represents and warrants to the Collateral Agent and the other
Secured Parties that this Agreement has been duly authorized, executed and delivered by it and
constitutes its legal, valid and binding obligation, enforceable against it in accordance with its
terms.

          SECTION 3. This Agreement may be executed in counterparts (and by different parties hereto on
different counterparts), each of which shall constitute an original, but all of which when taken
together shall constitute a single contract. This Agreement shall become effective when the
Collateral Agent shall have received a counterpart of this Agreement that bears the signature of
each New Subsidiary and the Collateral Agent has executed a counterpart hereof. Delivery of an
executed signature page to this Agreement by facsimile transmission shall be as effective as
delivery of a manually signed counterpart of this Agreement.

          SECTION 4. Each New Subsidiary hereby represents and warrants that (a) set forth on
Schedule I attached hereto is a true and correct schedule of the location of any and all
Collateral of such New Subsidiary and (b) set forth under its signature hereto, is the true and
correct legal name of such New Subsidiary, its jurisdiction of formation, organizational
identification number (if any) and the location of its chief executive office.

 

 

          SECTION 5. Except as expressly supplemented hereby, the Collateral Agreement shall remain in
full force and effect.

          SECTION 6. THIS AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF
THE STATE OF NEW YORK.

          SECTION 7. Any provision of this Agreement held to be invalid, illegal or unenforceable in any
jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such invalidity,
illegality or unenforceability without affecting the validity, legality and enforceability of the
remaining provisions hereof and of the Collateral Agreement and the Indenture; and the invalidity
of a particular provision in a particular jurisdiction shall not invalidate such provision in any
other jurisdiction.

          SECTION 8. All communications and notices hereunder shall be in writing and given as provided
in Section 7.2 of the Collateral Agreement.

          SECTION 9. Each New Subsidiary agrees to reimburse the Collateral Agent for its reasonable
out-of-pocket expenses in connection with this Agreement, including the reasonable fees, other
charges and disbursements of counsel for the Collateral Agent.

[Remainder of Page Intentionally Left Blank]

 

 

          IN WITNESS WHEREOF, each New Subsidiary and the Collateral Agent have duly executed this
Assumption and Joinder Agreement as of the day and year first above written.

	 	 	 	 	 	 	 

	 	 	XM 1500 ECKINGTON LLC	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Patrick L. Donnelly
 

Patrick L. Donnelly
	 	 
	 

	 	 	 	Secretary	 	 
	 
	 	 	 	 	 	 
	 	 	Legal Name: XM 1500 Eckington LLC

Jurisdiction of Formation: Delaware

Organizational ID Number: 3397034

Location of Chief Executive Office: 1221 Avenue of the

Americas, 36th Floor, New York, NY 10020	 	 
	 
	 	 	 	 	 	 
	 	 	XM INVESTMENT LLC	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Patrick L. Donnelly
 

Patrick L. Donnelly
	 	 
	 

	 	 	 	Secretary	 	 
	 
	 	 	 	 	 	 
	 	 	Legal Name: XM Investment LLC

Jurisdiction of Formation: Delaware

Organizational ID Number: 3960017

Location of Chief Executive Office: 1221 Avenue of the

Americas, 36th Floor, New York, NY 10020	 	 

[Signature Page to Assumption and Joinder Agreement]

 

 

	 	 	 	 	 	 	 

	 	 	U.S. BANK NATIONAL ASSOCIATION, as

Collateral Agent	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Thomas E. Tabor
 

Name: Thomas E. Tabor
	 	 
	 

	 	 	 	Title: Vice President	 	 

[Signature Page to Assumption and Joinder Agreement]exv10w1

EXHIBIT 10.1

HEALTH CARE REIT, INC.

SUMMARY OF DIRECTOR COMPENSATION

          For each calendar year, each non-employee member of the Board of Directors of Health Care
REIT, Inc. (the “Company”) will receive an annual retainer of $75,000, payable in equal quarterly
installments. Additionally, effective 2010, the chairs of the Audit Committee, the Compensation
Committee and the Nominating/Corporate Governance Committee each will receive an additional
retainer of $15,000. If the Board of Directors holds more than four meetings in a year, each
non-employee member of the Board will receive $1,500 for each meeting attended in excess of four
meetings. With respect to the Audit, Compensation, Executive and Nominating/Corporate Governance
Committees, if any of these committees holds more than four meetings in a year, each non-employee
member of these committees will receive $1,000 for each meeting attended in excess of four
meetings.

          Effective May 6, 2010, each of the non-employee directors will receive, in each calendar year,
a grant of deferred stock units with a value of $95,000, pursuant to the Company’s Amended and
Restated 2005 Long-Term Incentive Plan. The deferred stock units will be convertible into shares of
common stock of the Company in three equal installments on the first three anniversaries of the
date of the grant. Recipients of the deferred stock units also will be entitled to dividend
equivalent rights.exv10w9

EXHIBIT 10.9

May 24, 2010

Grantee Name

Address

City, State Zip

     Re:      Grant of Phantom Units

Dear Grantee:

     I am pleased to inform you that you have been granted                      Phantom Units as of the above
date pursuant to the Company’s 2010 Long-Term Incentive Plan (the “Plan”). The terms and
conditions of this grant are as set forth below:

	 	1.	 	Subject to the further provisions of this Agreement, your Phantom Units shall
vest (become payable in the form of one Common Unit of PAA Natural Gas Storage, L.P.
for each Phantom Unit) as follows; (i) 25% shall vest as of the date on which all of
the Series A Subordinated Units of the Partnership convert into Common Units, (ii) 25%
shall vest as of the date on which the First Tranche Series B Subordinated Units
convert into either Series A Subordinated Units or Common Units , (iii) 25% shall vest
as of the date on which the Second Tranche Series B Subordinated Units convert into
either Series A Subordinated Units or Common Units, and (iv) 25% shall vest as of the
date on which the Third Tranche Series B Subordinated Units convert into either Series
A Subordinated Units or Common Units. Common Units delivered in connection with the
vesting of Phantom Units hereunder (after giving effect to any units withheld for
taxes) shall commence receiving distributions in a manner consistent with the
commencement of distribution receipt by Common Units delivered in connection with the
conversion of the First, Second and Third Tranche Series B Subordinated Units,
respectively, as provided in Section 5.12 of the Partnership Agreement. Any Phantom
Units that remain outstanding as of December 31, 2014 shall expire without vesting on
such date.
	 
	 	2.	 	In the event of the termination of your employment with the Company and its
Affiliates (other than in connection with a Change in Status or by reason of your death
or “disability,” as defined in paragraph 3 below), all of your then outstanding Phantom
Units shall automatically be forfeited as of the date of termination; provided,
however, that if the Company or its Affiliates terminate your employment other than
a Termination for Cause, any unvested Phantom Units that have satisfied all vesting
criteria as of the date of termination but for the passage of time shall be deemed
nonforfeitable on the date of termination, and shall vest on the next following
Distribution Date.

 

 

			
	Grantee Name
	 	May 24, 2010

	 	3.	 	In the event of termination of your employment with the Company and its
Affiliates by reason of your death or your “disability” (a physical or mental infirmity
that impairs your ability substantially to perform your duties for a period of eighteen
months or that the Company otherwise determines constitutes a “disability”), your then
outstanding Phantom Units shall not be forfeited on such date, and such Phantom Units
shall vest or expire in accordance with paragraph 1 above. As soon as administratively
practicable after the vesting of any Phantom Units pursuant to this paragraph 3,
payment will be made in cash in an amount equal to the Market Value of the number of
Phantom Units vesting.
	 
	 	4.	 	In the event of a Change in Status, all of your then outstanding Phantom Units
shall be deemed 100% nonforfeitable on such date, and such Phantom Units shall vest in
full upon the next Distribution Date.
	 
	 	5.	 	Upon vesting of a Phantom Unit, you agree that the Company may withhold any
taxes due from your compensation as required by law, which (in the sole discretion of
the Company) may include withholding a number of Common Units otherwise payable to you.

     As used herein, the phrase “Distribution Date” means the day in February, May, August or
November in any year (as context dictates) that is 45 days after the end of the most recently
completed calendar quarter (or, if not a business day, the closest previous business day). “Market
Value” means the average of the closing sales prices for a Common Unit on the New York Stock
Exchange for the five trading days preceding the then most recent “ex dividend” date for payment of
a distribution by the Partnership.

     The phrase “Change in Status” means (A) the termination of your employment by the Company
other than a Termination for Cause, within two and a half months prior to or one year following a
Change of Control (the “Protected Period”), or (B) the termination of your employment by you due to
the occurrence during the Protected Period, without your written consent, of (i) any material
diminution in your authority, duties or responsibilities, (ii) any material reduction in your base
salary or (iii) any other action or inaction that constitutes a material breach of this agreement
by the Company. A termination by you shall not be a Change in Status unless (1) you provide
written notice to the Company of the condition in (B)(i),(ii) or (iii) that would constitute a
Change in Status within 90 days of the initial existence of the condition and (2) the Company fails
to remedy the condition within the 30-day period following such notice. As used herein, a
termination of the Employee’s employment means a “separation from service,” for purposes of Section
409A of the Internal Revenue Code of 1986, as amended (the “Code”).

     The phrase “Change of Control” means, and shall be deemed to have occurred upon the occurrence
of, one or more of the following events: (i) any transaction or other occurrence as a result of
which Plains All American Pipeline, L.P. retains neither direct nor indirect control of the Company
(or successor general partner of the Partnership, if applicable), (ii) any sale, lease, exchange or
other transfer (in one transaction or a series of related transactions) of all or

 

 

			
	Grantee Name
	 	May 24, 2010

substantially all of the assets of the Partnership or the Company to any Person and/or its
Affiliates, other than to the Partnership (or any of its subsidiaries), the Company, or Plains All
American Pipeline, L.P., including any employee benefit plan thereof; (iii) a consolidation,
reorganization, merger or any other similar transaction involving (a) a Person other than the
Partnership (or any of its subsidiaries), the Company, or Plains All American Pipeline, L.P. (or
its Affiliates) and (b) the Partnership, the Company or both, or (iv) any Person, including any
partnership, limited partnership, syndicate or other group deemed a “person” for purposes of
Section 13(d) or 14(d) of the Securities Exchange Act of 1934, as amended, becoming after the date
hereof the beneficial owner, directly or indirectly, of more than 49.9% of the membership interest
in the Company. Notwithstanding the foregoing, no Change of Control shall be deemed to have
occurred in connection with a restructuring or reorganization related to a securitization and sale
to the public of direct or indirect equity interests in the general partner interest of the
Partnership if Plains All American Pipeline, L.P. continues to have the power to elect, directly or
indirectly, the majority of the Board of Directors (or equivalent governing body) of the general
partner of the Partnership.

     The phrase “Termination for Cause” shall mean severance of your employment with the Company or
its Affiliates based on your (i) failure to perform your job function in accordance with standards
described to you in writing, or (ii) violation of the Company’s Code of Business Conduct (unless
waived in accordance with the terms thereof), in each case, with the specific failure or violation
described to you in writing.

     The “Company” refers to PNGS GP LLC. The “Partnership” refers to PAA Natural Gas Storage,
L.P.

     Terms used herein that are not defined herein shall have the meanings set forth in the Plan
or, if not defined in the Plan, in the Amended and Restated Agreement of Limited Partnership of PAA
Natural Gas Storage, L.P., as amended (the “Partnership Agreement”). By signing below, you agree
that the Phantom Units and DERs granted hereunder are governed by the terms of the Plan. Copies of
the Plan and the Partnership Agreement are available upon request.

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