Document:

Exhibit
10.4

 

 

 

 

 

SUPPLEMENTAL
PUT AGREEMENT

BY AND
BETWEEN

ATLAS
INDUSTRIES MANAGEMENT LLC

AND

ATLAS
INDUSTRIES HOLDINGS LLC

Dated
as of ________, 2007

 

TABLE OF
CONTENTS

	
  

  	
   

  	
   

  	
   

  	
  Page

  
	
  ARTICLE
  I

  	
   

  	
  DEFINITIONS

  	
   

  	
  1

  
	
  Section 1.1

  	
   

  	
  Definitions

  	
   

  	
  1

  
	
  ARTICLE
  II

  	
   

  	
  PUT
  RIGHT

  	
   

  	
  6

  
	
  Section 2.1

  	
   

  	
  Put
  Right

  	
   

  	
  6

  
	
  ARTICLE
  III

  	
   

  	
  OBLIGATION
  ABSOLUTE AND UNCONDITIONAL

  	
   

  	
  8

  
	
  ARTICLE
  IV

  	
   

  	
  COVENANTS

  	
   

  	
  8

  
	
  Section 4.1

  	
   

  	
  Commercially
  Reasonable Efforts

  	
   

  	
  9

  
	
  Section 4.2

  	
   

  	
  Board
  Observer

  	
   

  	
  9

  
	
  Section 4.3

  	
   

  	
  Access
  to Books and Records

  	
   

  	
  9

  
	
  Section 4.4

  	
   

  	
  Limitation
  on Sale of Assets

  	
   

  	
  9

  
	
  Section 4.5

  	
   

  	
  Limitation
  on Indebtedness

  	
   

  	
  10

  
	
  Section 4.6

  	
   

  	
  Limitation
  on Merger or Consolidation

  	
   

  	
  10

  
	
  Section 4.7

  	
   

  	
  Restriction
  on Dividends and Other Distributions

  	
   

  	
  10

  
	
  ARTICLE
  V

  	
   

  	
  INDEMNITY

  	
   

  	
  11

  
	
  ARTICLE
  VI

  	
   

  	
  MISCELLANEOUS

  	
   

  	
  11

  
	
  Section 6.1

  	
   

  	
  Binding
  Effect

  	
   

  	
  11

  
	
  Section 6.2

  	
   

  	
  Effect
  of Termination; Survival

  	
   

  	
  11

  
	
  Section 6.3

  	
   

  	
  Notices

  	
   

  	
  11

  
	
  Section 6.4

  	
   

  	
  Headings

  	
   

  	
  12

  
	
  Section 6.5

  	
   

  	
  Applicable
  Law

  	
   

  	
  12

  
	
  Section 6.6

  	
   

  	
  Submission
  to Jurisdiction; Waiver of Jury Trial

  	
   

  	
  13

  
	
  Section 6.7

  	
   

  	
  Amendments;
  Waivers

  	
   

  	
  14

  
	
  Section 6.8

  	
   

  	
  Remedies
  to Prevailing Party

  	
   

  	
  14

  
	
  Section 6.9

  	
   

  	
  Severability

  	
   

  	
  14

  
	
  Section 6.10

  	
   

  	
  Benefits
  Only to Parties

  	
   

  	
  14

  
	
  Section 6.11

  	
   

  	
  Further
  Assurances

  	
   

  	
  14

  
	
  Section 6.12

  	
   

  	
  No
  Strict Construction

  	
   

  	
  15

  
	
  Section 6.13

  	
   

  	
  Entire
  Agreement

  	
   

  	
  15

  
	
  Section 6.14

  	
   

  	
  Taxes

  	
   

  	
  15

  
	
  Section 6.15

  	
   

  	
  Confidentiality

  	
   

  	
  15

  
	
  Section 6.16

  	
   

  	
  Counterparts

  	
   

  	
  15

  
	
  Section 6.17

  	
   

  	
  Dispute
  Resolution

  	
   

  	
  16

  

 

 

 

 i

SUPPLEMENTAL
PUT AGREEMENT (as amended, revised, supplemented or otherwise
modified from time to time, this “Agreement”),
dated as of ________, 2007 is made by and between ATLAS INDUSTRIES MANAGEMENT LLC, a Delaware limited liability company
(the “Holder”), and ATLAS INDUSTRIES
HOLDINGS LLC, a Delaware limited liability company (the “Company”).  Each party hereto shall be referred to as,
individually, a “Party” and, collectively, the “Parties”.

WHEREAS, the
Company was formed for the purpose of engaging in an initial public offering of
Common Shares of the Company (the “IPO”) and
the other transactions relating thereto (together with the IPO, the “IPO
Transactions”), all as described in the Company’s prospectus,
dated _________, 2007 (the “Prospectus”);

WHEREAS, in
connection with the formation of the Company, Holder acquired 100% of the
Allocation Shares of the Company for a capital investment of $100,000 (the “Capital
Investment”); provided,
that the receipt of liquidity rights with respect to the Allocation Shares
pursuant to this Agreement was part of the consideration as to the Holder’s
making of such Capital Investment and acquiring of such Allocation Shares;

WHEREAS, Holder
made such Capital Investment for the purpose of providing funds to the Company
to engage in the IPO Transactions, and the Company believes that it was in the
Company’s best interest to receive such Capital Investment and to use such
Capital Investment to fund its activities relating to the IPO Transactions;

WHEREAS, the
Company has determined that it would be unable to engage in and consummate the
IPO Transactions without the Capital Investment; and

WHEREAS, in
consideration of the Capital Investment and Holder’s participation in the
consummation of the IPO Transactions for the benefit of the Company, the
Company desires and agrees to, and the Company hereby does, grant the liquidity
rights specified herein to the Holder with respect to the Allocation Shares.

NOW THEREFORE, in
consideration of the mutual covenants contained herein, and of other good and
valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, and intending to be legally bound hereby, the Parties hereto
agree as follows:

ARTICLE I

DEFINITIONS

Section 1.1                                   Definitions

For all purposes of this Agreement, except as
otherwise expressly provided or unless the context otherwise requires:

(i)            the
terms defined in this Article have the meanings assigned to them in this
Article and include the plural as well as the singular;

 1
 

(ii)           any
reference to an “Article,” “Section” or an “Exhibit” refers to an Article,
Section or an Exhibit, as the case may be, of this Agreement; and

(iii)          the
words “herein,” “hereinafter,” “hereof,” “hereto” and “hereunder” and other
words of similar import refer to this Agreement as a whole and not to any
particular Article, Section or other subdivision:

“Affiliate” means, with
respect to any Person, (i) any Person directly or indirectly controlling,
controlled by or under common control with such Person or (ii) any officer,
director, general member, member or trustee of such Person. For purposes of
this definition, the terms “controlling,” “controlled by” or “under common
control with” shall mean, with respect to any Persons, the possession, direct
or indirect, of the power to direct or cause the direction of the management
and policies of a Person, whether through the ownership of voting securities,
by contract or otherwise, or the power to elect at least 50% of the directors,
managers, general members, or Persons exercising similar authority with respect
to such Person.

“Agreement”
has the meaning set forth in the preamble of this
Agreement.

“Allocation Shares” has
the meaning set forth in the LLC Agreement.

“Base Put Price Amount”
shall mean, as of any Put Right Exercise Date, the sum
of (i) the Businesses Valuation Amount as of such Put Right Exercise Date,
plus (ii) the aggregate amount of
Distribution-Based Profit Allocation as of such Put Right Exercise Date, plus (iii) the balance, if positive, of the Deferral Account
Ending Balance as of such Put Right Exercise Date.

“Board of Directors” means the Board
of Directors of the Company, or any committee thereof that has been duly
authorized by the Board of Directors to make a decision on the matter in
question or bind the Company as to the matter in question.

“Business Day” means any
day other than a Saturday, a Sunday or a day on which banks in the City of New
York are required, permitted or authorized, by applicable law or executive
order, to be closed for regular banking business.

“Businesses Valuation
Amount” shall mean, with respect to any Put Right
Exercise Date, the product of (i)
the sum of (u) the aggregate Fair Market
Value of all of the Company’s Subsidiaries, determined individually, as of such
Put Right Exercise Date, plus (v) the
aggregate principal amount of any debt investments in all of the Company’s
Subsidiaries as of such Put Right Exercise Date, plus
any and all accrued and unpaid interest thereon, plus
(w) the aggregate Fair Market Value of all of the Company’s Investments,
determined individually, as of such Put Right Exercise Date, minus (x) Cumulative Capital as of such Put Right Exercise
Date, minus (y) the absolute aggregate
principal amount of outstanding Third-Party Indebtedness of the Company, if
any, as of such Put Right Exercise Date, plus (z) the
aggregate amount of cash and cash equivalents of the Company on a
deconsolidated basis as of such Put Right Exercise Date, multiplied
by (ii) 0.2.  For the avoidance of doubt,
any and all components of Business Valuation Amount shall be determined and
calculated without duplication of any other components, including
sub-components, of Business Valuation Amount.

 2
 

“CAD Short-fall”
has the meaning set forth in the LLC Agreement.

“Capital Investment”  has the meaning set
forth in the recitals of this Agreement.

“Code” means the United
States Internal Revenue Code of 1986, as amended and in effect from time to
time. Any reference herein to a specific section of the Code shall be deemed to
include a reference to any corresponding provision of law in effect in the
future.

“Common Shares”  has the meaning set forth in the LLC
Agreement.

“Company”  has
the meaning set forth in the preamble of this Agreement.

“Confidential Information”
means all information of any kind concerning the Company and its Subsidiaries
or the business of the Company and its Subsidiaries except information which is
or becomes generally available to the public as a result of disclosure by the
Company or its Subsidiaries.

“Cumulative Capital”
has the meaning set forth in the LLC Agreement.

“Current Equity-Based
Profit Allocation” has the meaning set forth in
the LLC Agreement.

“DBPA Determination Date”
has the meaning set forth in the LLC Agreement.

“DBPA Payment Trigger
Events” has the meaning set forth in the LLC
Agreement.

“Deferral Account Ending
Balance” has the meaning set forth in the LLC
Agreement.

“Distribution-Based Profit Allocation”  has the meaning set forth in the LLC
Agreement.

“EBPA Determination Date” has the meaning
set forth in the LLC Agreement.

“Engagement Date” has the
meaning set forth in Section 2.1(b) hereof.

“Fair Market Value” means,
with respect to any Subsidiary or Investment of the Company, the aggregate
consideration, whether cash or otherwise, for which the Company, being knowledgeable,
willing and free of undue pressure, would sell (i) all of its equity interests
in such Subsidiary or (ii) such Investment, in each case, without giving effect
to any discount attributable to (x) minority ownership or positions with
respect to any Subsidiary or Investment, (y) the lack of liquidity with respect
to the securities of any Subsidiary or Investment, and (iii) status of the
securities of any Subsidiary or Investment under state and federal securities
laws.

“GAAP”
means generally accepted accounting principles in effect in the United States,
consistently applied.

“Holder” has the meaning
set forth in the preamble of this Agreement.

 3
 

“Holder Approved Investment
Banks” has
the meaning set forth in Section 2.1(a) hereof.

“Incur”
means, with respect to any Indebtedness or other obligation of a Person, to
create, issue, acquire (by conversion, exchange or otherwise), assume, suffer,
guarantee or otherwise become liable in respect of such Indebtedness or other
obligation.

“Indebtedness” means, with
respect to any Person, (i) any liability for borrowed money, or under any
reimbursement obligation relating to a letter of credit, (ii) all indebtedness
(including bond, note, debenture, purchase money obligation or similar
instrument) for the acquisition of any businesses, properties or assets of any
kind (other than property, including inventory, and services purchased, trade
payables, other expenses accruals and deferred compensation items arising in
the Ordinary Course of Business), (iii) all obligations under leases that have
been or should be, in accordance with GAAP, recorded as capital leases, (iv)
any liabilities of others described in the preceding clauses (i) to (iii)
(inclusive) that such Person has guaranteed or for which such Person is otherwise
legally obligated, and (v) (without duplication) any amendment, supplement,
modification, deferral, renewal, extension or refunding of any liability of the
types referred to in clauses (i) through (iv) above.

“Indemnified Parties”  has the meaning set forth
in Article V hereof.

“Investments”
means, with respect to any Person, any investment in the securities of another
Person other than the Subsidiaries of the Company.

“IPO”  has
the meaning set forth in the recitals of this Agreement.

“IPO Transactions”  has the meaning set forth in the recitals
of this Agreement.

“LIBOR”
means, the British Bankers’ Association Interest Settlement Rate per annum for
deposits in U.S. dollars for a three month period appearing on the display
designated as Page 3750 on the Dow Jones Markets Service (or such other page on
that service or such other service designated by the British Bankers’
Association for the display of the Association’s Interest Settlement Rate for
U.S. dollar deposits) as of 11:00 a.m. (London, England time) on the day that
is two Business Days prior to the Put Right Closing Date.

“LLC Agreement”
means the [            ] Amended and
Restated Operating Agreement of the Company, dated as of [                     ], including all exhibits
and schedules attached thereto, as may be amended, revised, supplemented or
otherwise modified from time to time.

“Management Services
Agreement” means the Management Services Agreement
entered into by and between the Holder and the Company, dated as of the date
hereof, as amended or otherwise modified from time to time.

“Manager” means the Holder in its
capacity as manager of the Company under the Management Services Agreement.

 4
 

“Maturity Amount” has the
meaning set forth in Section 2.1(d) hereof.

“Maturity Date” has the
meaning set forth in Section 2.1(d) hereof.

“Ordinary Course of Business”
means, with respect to any Person, an action taken by such Person if such
action is (i) consistent with the past practices of such Person and is taken in
the normal day-to-day business or operations of such Person and (ii) which is
not required to be specifically authorized or approved by the board of
directors of such Person.

“Party” and “Parties”  have
the meaning set forth in the preamble of this Agreement.

“Person” means any
individual, company (whether general or limited), limited liability company,
corporation, trust, estate, association, nominee or other entity.

“Profit Allocation Determination Date”  has the meaning set forth in the LLC Agreement.

“Prospectus” has the
meaning set forth in the recitals of this Agreement.

“Put Closing” means the consummation of
the purchase of the Put Securities for the Put Price on the Put Right Closing
Date.

“Put Note” has the meaning
set forth in Section 2.1(d) hereof.

“Put Notice” has the
meaning set forth in Section 2.1(a) hereof.

“Put Price” has the
meaning set forth in Section 2.1(b) hereof.

“Put Right” has the
meaning set forth in Section 2.1(a) hereof.

“Put Right Closing Date” means the date that is the twentieth (20th) Business Day immediately following the
day on which the second of the Holder Approved Investment Banks delivers its
calculation of the Base Put Price Amount to the Holder and the Company in
accordance with Section 2.1(b) hereof, or such other day as may be mutually
agreed upon by the Parties.

“Put Right Event” means
the earlier to occur of (i) the termination of the Management Services
Agreement other than as a result of the Holder’s resignation as Manager
therefrom, and (ii) the Holder’s resignation as Manager under the Management Services
Agreement on any date that is at least three (3) years after the date hereof.

“Put Right Event Date”
means the date upon which the Put Right Event occurs.

“Put Right Exercise Date”
means the date upon which the Holder provides written notice to the Company
exercising its Put Right in accordance with Section 2.1(a) hereof.

“Put Securities” has the
meaning set forth in Section 2.1(a) hereof.

 5
 

“Subsidiary” means, with
respect to any Person, any corporation, company, joint venture, limited
liability company, association or other entity in which such Person owns,
directly or indirectly, more than 50% of the outstanding voting equity
securities or interests, the holders of which are generally entitled to vote
for the election of the board of directors or other governing body of such
entity.

“Third Party Indebtedness”
means, with respect to any Person, Indebtedness of such Person owed to any
lenders or other creditors that are not an Affiliate of such Person.

ARTICLE II

PUT RIGHT

Section 2.1                                   Put
Right

(a)           Obligation; Exercise.  Subject to the other terms and conditions
set forth in this Section 2.1, upon the occurrence of the Put Right Event, the
Holder shall have the right, but not the obligation (the “Put Right”), which right is
exercisable by providing written notice to the Company in accordance with this
Section 2.1(a) (the “Put Notice”), to cause the
Company to purchase all, but not less than all, of the Allocation Shares then
held by the Holder (the “Put Securities”) for the Put
Price, as of the Put Right Exercise Date, on the Put Right Closing Date; provided,
however, that Holder must exercise its Put Right, if exercised, by
providing the Put Notice during the one (1) year period immediately following
the Put Right Event Date.  The Put Notice
shall specify (i) the Holder’s intention to exercise the Put Right granted
hereunder, (ii) the Put Right Event giving rise to the Put Right, (iii) the Put
Right Event Date, (iv) the names of four independent, nationally recognized
investment banks, as well as specific contact persons thereof, acceptable to
the Holder for purposes of the calculations required by Section 2.1(b) hereof
(each a “Holder Approved Investment
Bank”), (v) the location of the Put
Closing, (vi) wire instructions for payment of the Put Price on the Put Right
Closing Date, and (vii) whether or not the Holder will be electing to receive a
Put Note in accordance with Section 2.1(d) hereof.

(b)           Calculation of Put Price.  The “Put Price” shall be equal to, as
of the Put Right Exercise Date:

(i)            if the Management Services Agreement
is terminated other than as a result of the Holder’s resignation as Manager of
the Company thereunder, the sum of
the two separate, independently made calculations of the Base Put Price Amount
as of the Put Right Exercise Date by the Holder Approved Investment Banks
pursuant to this Section 2.1(b); or

(ii)           if the Management Services Agreement
is terminated as a result of the Holder’s resignation as Manager of the Company
thereunder, the average of the
two separate, independently made calculations of the Base Put Price Amount as
of the Put Right Exercise Date by the Holder Approved Investment Banks pursuant
to this Section 2.1(b);

 6
 

provided, that, in each
case, the calculation of the Put Price shall assume that:

(A)          for purposes of calculating the
Deferral Account Ending Balance and Distribution-Based Profit Allocation, as
the case may be, as of the Put Right Exercise Date, the most recent or current
(and only the most recent or current) Profit Allocation Determination Date,
DBPA Determination Date and EBPA Determination Date, as used to calculate the
Deferral Account Ending Balance and Distribution-Based Profit Allocation as of
such dates, shall be the Put Right Exercise Date;

(B)           for purposes of calculating
Distribution-Based Profit Allocation as of the Put Right Exercise Date, each of
the DBPA Payment Trigger Events shall be deemed satisfied as of the Put Right
Exercise Date;

(C)           for purposes of calculating
Distribution-Based Profit Allocation as of the Put Right Exercise Date, the CAD
Short-fall equals zero (0);

(D)          for purposes of calculating the
Deferral Account Ending Balance as of the Put Right Exercise Date, the Current
Equity-Based Profit Allocation equals zero (0); and

(E)           except with respect to the foregoing
assumptions, any components of Distribution-Based Profit Allocation and the
Deferral Account Ending Balance shall be calculated in accordance with the
calculation of the relevant components of Distribution-Based Profit Allocation
and the Deferral Account Ending Balance as set forth in the LLC Agreement;

provided, further, that
each of the two separate, independently made calculations of the Base Put Price
Amount shall be performed by a different Holder Approved Investment Bank that
shall each be selected and engaged by the Company within fifteen (15) Business
Days of the Put Right Exercise Date (the “Engagement Date”). 
The Company shall be responsible for paying any fees, costs and expenses
associated with the engagement of the Holder Approved Investment Banks.  The Company shall instruct each Holder
Approved Investment Bank to deliver its calculation of the Base Put Price
Amount within forty-five (45) Business Days of the Engagement Date
simultaneously to each of the Company and the Holder.

(c)           Put Closing.  Subject to Section 2.1(d) hereof, the Put
Closing shall occur at 10:00 a.m., New York City time, on the Put Right Closing
Date at such location designated by the Holder in the Put Notice.  On the Put Right Closing Date, (i) the Holder
shall sell, and the Company shall purchase, all of the Put Securities then held
by the Holder, free and clear of any liens or other encumbrances (other than
restrictions on transfer imposed by federal and state securities laws), for the
Put Price.  Subject to Section 2.1(d)
hereof, the Holder shall deliver certificates evidencing the Put Securities
then held by the Holder against delivery by the Company of the Put Price.  Subject to Section 2.1(d) hereof, the
delivery of the Put Price by the Company shall be made in U.S. dollars by wire
transfer in immediately available funds to the account or accounts designated
by the Holder in the Put Notice.

 7
 

(d)           Put Note; Terms.  The Holder and the Company may mutually agree
that the Holder will receive, in lieu of immediately available funds due pursuant
to Section 2.1(c) hereof, a promissory note of the Company with an aggregate
principal amount equal to the Put Price (the “Put Note”); provided, that if the Management Services
Agreement is terminated as a result of the Holder’s resignation as Manager of
the Company thereunder, then the Company shall have the right, in its sole
discretion, to issue the Put Note to the Holder in lieu of delivering
immediately available funds to the Holder as due and payable pursuant to
Section 2.1(c) hereof.  The Put Note
shall (i) mature on the first (1st) anniversary of the Put Right Closing
Date (the “Maturity Date”), (ii) accrue
interest from and including the Put Right Closing Date to but excluding the
date of repayment at a rate of LIBOR plus 4.00% per
annum, (iii) contain customary and market events of default, including a
cross-default provision, (iv) contain customary and market covenants, including
those set forth herein, and (v) otherwise be in form and substance reasonably
satisfactory to the Company and the Holder. 
The aggregate principal amount of the Put Note, together with all
accrued and unpaid interest thereon (the “Maturity Amount”),
shall be due and payable on the Maturity Date in U.S. dollars by wire transfer
in immediately available funds to the account or accounts designated by the
Holder in the Put Note; provided, that the Company shall have the option
to prepay all or a portion of the Maturity Amount at any time prior to the
Maturity Date without penalty.  The
Company’s obligations under the Put Note shall be (i) subordinated to any Third
Party Indebtedness of the Company and (ii) secured by a first priority lien
(or, if not possible due to a pre-existing obligation of the Company, the next
highest priority lien) on the equity interests then owned by the Company in
each of its Subsidiaries.

(e)           Sufficient
Liquidity.  Subject to
Section 2.1(d) hereof, if the Company does not have sufficient liquid assets to
timely pay the entire amount of the Put Price or Maturity Amount, as the case
may be, due on the Put Right Closing Date or the Maturity Date, as the case may
be, the Company shall liquidate assets or Incur Indebtedness in order to pay
such Put Price or Maturity Amount, as the case may be, in full on such Put
Right Closing Date or the Maturity Date, as the case may be.

ARTICLE
III

OBLIGATION
ABSOLUTE AND UNCONDITIONAL

Notwithstanding anything to the contrary herein, the
obligation of the Company, upon exercise of the Put Right by the Holder, to pay
the Put Price on the Put Right Closing Date, or the Maturity Amount on the
Maturity Date if the Holder elects to receive a Put Note in accordance with
Section 2.1(d) hereof, shall be absolute and unconditional and shall not be
subject to any right of set-off or defense whatsoever, whether in law or
equity, including force majeure.  This
Agreement may not be terminated at any time prior to satisfaction of the
Company obligations as set forth in this Article III.

 8
 

ARTICLE
IV

COVENANTS

Section 4.1                                   Commercially
Reasonable Efforts

The Company shall use commercially reasonable efforts
to (i) raise sufficient proceeds from debt and equity financings to permit the
Company to pay the full Put Price on the Put Right Closing Date or Maturity
Amount on the Maturity Date, as the case may be, and (ii) obtain approvals, waivers
and consents or otherwise remove any restrictions imposed under contractual
obligations or applicable law or regulations that have the effect of limiting
or prohibiting the Company from (x) paying the Put Price or purchasing all of
the Put Securities at the Put Price, in each case, on the Put Right Closing
Date, or (y) purchasing all of the Put Securities at the Put Price by issuing
the Put Note on the Put Right Closing Date or paying the Maturity Amount on the
Maturity Date.

Section 4.2                                   Board
Observer

At all times after the occurrence of the Put Right
Event until the satisfaction in full of the Company’s obligations hereunder and
under the Put Note, if any, the Holder shall have the right to designate a
representative who shall (i) have the right to receive due notice of and to
attend and participate in discussions at (but not vote on any matters on which
the directors of the Company are entitled to vote) all meetings of the Board of
Directors of the Company and (ii) have the right to receive copies of all
documents and other information, including notices, minutes, consents, business
plans, presentation materials, budgets and financial information, in each case,
furnished to the Company’s Board of Directors.

Section 4.3                                   Access
to Books and Records

At all times after the occurrence of the Put Right
Event until the satisfaction in full of the Company’s obligations hereunder and
under the Put Note, if any, the Holder shall have the right to review and copy
any books and records of the Company or its Subsidiaries during normal business
hours, including any books and records necessary for the calculation of the Put
Price in accordance with the terms hereof, upon five (5) Business Days notice.

Section 4.4                                   Limitation
on Sale of Assets

At all times after the occurrence of the Put Right
Exercise Date until the satisfaction in full of the Company’s obligations
hereunder and under the Put Note, if any, the Company shall not, and the
Company shall cause its Subsidiaries not to, other than in the Ordinary Course
of Business, sell, lease, transfer or otherwise dispose of, in any manner
whatsoever, any property or assets of the Company or any Subsidiary of the
Company or portion thereof except that the Company and its Subsidiaries may
sell, lease, transfer or otherwise dispose of any of their respective property
or assets, as the case may be, to the extent that the Company or its
Subsidiaries (i) uses or otherwise applies the proceeds therefrom to satisfy
the Company’s obligation hereunder to pay the Put Price on the Put Right
Closing Date or the Maturity Amount on the Maturity Date, as the case may be,
and (ii) in any event, grants a first priority lien (or, if not possible due to
a pre-existing obligation of the Company, the next highest priority lien) on
the proceeds thereof, including any receivables relating thereto, to the Holder
until such proceeds are used or otherwise applied in accordance with clause (i)
of this Section 4.4.  Such lien shall
secure the Company’s obligation hereunder to pay the Put Price on the Put Right
Closing Date or the Maturity Amount on the Maturity Date, as the case may be,
and shall be pursuant to such security instruments as shall be reasonably
acceptable to the Company and the Holder.

 9
 

Section 4.5                                   Limitation
on Indebtedness

At all times after the occurrence of the Put Right
Exercise Date until the satisfaction in full of the Company’s obligations
hereunder and under the Put Note, if any, the Company shall not, and the
Company shall cause its Subsidiaries not to, other than in the Ordinary Course
of Business, Incur any Indebtedness (other than in respect of the Put Note),
except that the Company and its Subsidiaries may Incur Indebtedness to the
extent that the Company and its Subsidiaries, as the case may be, (i) uses or
otherwise applies the proceeds therefrom to satisfy the Company’s obligation
hereunder to pay the Put Price on the Put Right Closing Date or the Maturity
Amount on the Maturity Date, as the case may be, and (ii) in any event, grants
a first priority lien (or, if not possible due to a pre-existing obligation of
the Company, the next highest priority lien) on the proceeds thereof, including
any receivables relating thereto, to the Holder until such proceeds are used or
otherwise applied in accordance with clause (i) of this Section 4.5.  Such lien shall secure the Company’s
obligation hereunder to pay the Put Price on the Put Right Closing Date or the
Maturity Amount on the Maturity Date, as the case may be, and shall be pursuant
to such security instrument as shall be reasonably acceptable to the Company
and the Holder.

Section 4.6                                   Limitation
on Merger or Consolidation

At all times after the occurrence of the Put Right
Exercise Date until the satisfaction in full of the Company’s obligations
hereunder and under the Put Note, if any, the Company shall not merge into or otherwise consolidate into
any other Person, or permit any other Person to merge into or otherwise consolidate with it (in
each case, in any manner whatsoever, including by means of reorganization,
recapitalization or otherwise), or sell, lease, transfer or otherwise dispose
of (in any manner whatsoever, including in a single transaction or a series of
transactions) all or a substantial part of its business, property or assets (in
each case, whether now owned or hereafter acquired) or all or a substantial
portion of the stock or beneficial ownership of any of its Subsidiaries or
portions thereof (in each case, whether now owned or hereafter acquired) or
liquidate, windup or dissolve or acquire by purchase or otherwise all or
substantially all of the business, property or assets of, or stock or other
evidence of beneficial ownership of, any other Person prior to paying,
in full, the Put Price on or prior to the Put Right Closing Date or the
Maturity Amount on or prior to the Maturity Date, as the case may be.

Section 4.7                                   Restriction
on Dividends and Other Distributions

At all times after the occurrence of the Put Right
Exercise Date until the satisfaction in full of the Company’s obligations
hereunder and under the Put Note, if any, the Company shall not declare or pay
any dividends or other distributions to its equity owners, in any manner
whatsoever, prior to paying, in full, the Put Price on or prior to the Put
Right Closing Date or the Maturity Amount on or prior to the Maturity Date, as
the case may be.

 10
 

ARTICLE V

INDEMNITY

The Company shall indemnify, reimburse, defend and
hold harmless the Holder and its successors and permitted assigns, together
with their respective employees, officers, members, managers, directors and
representatives (collectively, the “Indemnified Parties”), from and
against all losses (including lost profits), costs, damages, injuries, taxes,
penalties, interests, expenses, obligations, claims and liabilities (joint or
severable) of any kind or nature whatsoever that are incurred by such
Indemnified Parties in connection with, relating to or arising out of the (i)
the breach by the Company of any term or condition of this Agreement or the Put
Note, or any other agreement or instruments delivered in connection herewith or
therewith, (ii) the exercise of the Put Right or (iii) the enforcement of any
right arising hereunder or under the Put Note.

The rights of any Indemnified Party referred to above
shall be in addition to any rights that such Indemnified Party shall otherwise
have at law or in equity.

ARTICLE
VI

MISCELLANEOUS

Section 6.1                                   Binding
Effect

This Agreement shall be binding upon, shall inure to
the benefit of and be enforceable by the Parties hereto and their respective
successors and permitted assigns.

Section 6.2                                   Effect
of Termination; Survival

This Agreement shall be effective as of the date first
above written and shall continue in full force and effect thereafter until
either (i) this Agreement is terminated by mutual agreement of the Parties or
(ii) Holder has received the Put Price in full, or the Maturity Amount in full,
as the case may be, in accordance with the terms of this Agreement.  Notwithstanding the foregoing, the
obligations of the Company set forth in Articles III and V and Sections 6.2,
6.3, 6.5, 6.6, 6.15 and 6.17 hereof shall survive termination of this
Agreement, subject to applicable law.

Section 6.3                                   Notices

Any notice or other communication required or
permitted under this Agreement shall be deemed to have been duly given (i) five
(5) Business Days following deposit in the mails if sent by registered or
certified mail, postage prepaid, (ii) when sent, if sent by facsimile
transmission, if receipt thereof is confirmed by telephone, (iii) when
delivered, if delivered personally to the intended recipient and (iv) two (2)
Business Days following deposit with a nationally recognized overnight courier
service, in each case addressed as follows:

 11
 

If to the Company, to:

Attention:  Chief Executive Officer

Atlas Industries Holdings
LLC

One Sound Shore Drive,
Suite 302

Greenwich, CT  06830

Fax:         203-622-0151

with a copy (which shall not constitute notice) to its counsel:

Attention:  Christopher M. Zochowski

McDermott Will &
Emery LLP

600 Thirteenth Street, NW

Washington, DC  20004

Fax:         202-756-8087

If to the Holder, to:

Attention: 
Andrew M. Bursky

Atlas Industries Management LLC

One Sound Shore Drive, Suite 302

Greenwich, CT  06830

Fax:         203-622-0151

with a copy (which
shall not constitute notice) to its counsel:

As to be determined by Holder from time to time.

or to such other address
or facsimile number as any such Party may, from time to time, designate in
writing to all other Parties hereto, and any such communication shall be deemed
to be given, made or served as of the date so delivered or, in the case of any
communication delivered by mail, as of the date so received.

Section 6.4                                   Headings

The headings in this Agreement are included for
convenience of reference only and in no way define or delimit any of the
provisions hereof or otherwise affect their construction or effect.

Section 6.5                                   Applicable
Law

This
Agreement, the legal relations between and among the Parties and the
adjudication and the enforcement thereof shall be governed by and interpreted
and construed in accordance with the laws of the State of New York, without
regard to the conflicts of law provisions thereof to the extent such principles
or rules would require or permit the application of the laws of another
jurisdiction.

 12
 

Section 6.6                                   Submission
to Jurisdiction; Waiver of Jury Trial

Subject to Section 6.17 hereof, each of the Parties
hereby irrevocably acknowledges and consents that any legal action or
proceeding brought with respect to any of the obligations arising under or
relating to this Agreement may be brought in the courts of the State of New
York, County of New York or in the United Stales District Court for the
Southern District of New York and each of the Parties hereby irrevocably
submits to and accepts with regard
to any such action or proceeding, for itself and in respect of its property,
generally and unconditionally, the non-exclusive jurisdiction of the aforesaid
courts. Each Party hereby further irrevocably waives any claim that any such
courts lack jurisdiction over such Party, and agrees not to plead or claim, in
any legal action or proceeding with respect to this Agreement or the
transactions contemplated hereby brought in any of the aforesaid courts, that
any such court lacks jurisdiction over such Party. Each Party irrevocably
consents to the service of process in any such action or proceeding by the
mailing of copies thereof by registered or certified mail, postage prepaid, to
such party, at its address for notices set forth in Section 6.3 hereof, such service to become effective ten
(10) days after such mailing.  Each Party
hereby irrevocably waives any objection to such service of process and further
irrevocably waives and agrees not to plead or claim in any action or proceeding
commenced hereunder or under any other documents contemplated hereby that
service of process was in any way invalid or ineffective. The foregoing shall
not limit the rights of any Party to serve process in any other manner
permitted by applicable law.  The
foregoing consents to jurisdiction shall not constitute general consents to
service of process in the State of New York for any purpose except as provided
above and shall not be deemed to confer rights on any Person other than the
respective Parties.

Each of the Parties hereby waives any right it may
have under the laws of any jurisdiction to commence by publication any legal
action or proceeding with respect this Agreement. To the fullest extent
permitted by applicable law, each of the Parties hereby irrevocably waives the
objection which it may now or hereafter have to the laying of the venue of any
suit, action or proceeding arising out of or relating to this Agreement in any
of the courts referred to in this Section 6.6 and hereby further irrevocably
waives and agrees not to plead or claim that any such court is not a convenient
forum for any such suit, action or proceeding.

The Parties agree that any judgment obtained by any
Party or its successors or assigns in any action, suit or proceeding referred
to above may, in the discretion of such Party (or its successors or assigns),
be enforced in any jurisdiction, to the extent permitted by applicable law.

The Parties agree that the remedy at law for any
breach of this Agreement may be inadequate and that should any dispute arise
concerning any matter hereunder, this Agreement shall be enforceable in a court
of equity by an injunction or a decree of specific performance. Such remedies
shall, however, be cumulative and nonexclusive, and shall be in addition to any
other remedies which the Parties may have.

Each Party hereby waives, to the fullest extent
permitted by applicable law, any right it may have to a trial by jury in
respect of any litigation as between the Parties directly or indirectly arising
out of, under or in connection with this Agreement or the transactions contemplated
hereby or disputes relating hereto. Each Party (i) certifies that no
representative, agent or attorney of any other Party has represented, expressly
or otherwise, that such other Party would not, in the event of litigation, seek
to enforce the foregoing waiver and (ii) acknowledges that it and the other
Parties have been induced to enter into this Agreement by, among other things,
the mutual waivers and certifications in this Section 6.6.

 13
 

Section 6.7                                   Amendments;
Waivers

No term or condition of this Agreement may be amended,
modified or waived without the prior written consent of the Party against whom
such amendment, modification or waiver will be enforced.  Any waiver granted hereunder shall be deemed
a specific waiver relating only to the specific event giving rise to such
waiver and not as a general waiver of any term or condition hereof.

Section 6.8                                   Remedies
to Prevailing Party

If any action at law or equity is necessary to enforce
or interpret the terms of this Agreement, the prevailing party shall be
entitled to reasonable attorneys’ fees, costs, and necessary disbursements in
addition to any other relief to which such party may be entitled.

Section 6.9                                   Severability

Each provision of this Agreement is intended to be
severable from the others so that if, any provision or term hereof is illegal,
invalid or unenforceable for any reason whatsoever, such illegality, invalidity
or unenforceability shall not affect or impair the validity of the remaining
provisions and terms hereof; provided, however, that the provisions
governing payment of the Put Price described in Article II hereof are not
severable.

Section 6.10                            Benefits
Only to Parties

Nothing expressed by or mentioned in this Agreement is
intended or shall be construed to give any Person, other than the Parties and
their respective successors or permitted assigns and the Indemnified Parties,
any legal or equitable right, remedy or claim under or in respect of this
Agreement or any provision herein contained, this Agreement and all conditions
and provisions hereof are intended to be and are for the sole and exclusive
benefit of the Parties and their respective successors and permitted assigns,
and for the benefit of no other Person.

Section 6.11                            Further
Assurances

Each Party hereto shall take any and all such actions,
and execute and deliver such further agreements, consents, instruments and any
other documents as may be necessary from time to time to give effect to the
provisions and purposes of this Agreement and, upon exercise of the Put Right
by the Holder, to effect and evidence the sale and transfer of the Put
Securities by the Holder, on the one hand, and the purchase and payment of the
Put Price by the Company, on the other.

 14
 

Section 6.12                            No
Strict Construction

The Parties have participated jointly in the
negotiation and drafting of this Agreement. In the event any ambiguity or
question of intent or interpretation arises, this Agreement shall be construed
as if drafted jointly by all Parties, and no presumption or burden of proof
shall arise favoring or disfavoring any Party by virtue of the authorship of
any provision of this Agreement.

Section 6.13                            Entire
Agreement

This Agreement constitutes the sole and entire
agreement of the Parties with regards to the subject matter of this Agreement.
Any written or oral agreements, statements, promises, negotiations or
representations not expressly set forth in this Agreement are of no force and
effect.

Section 6.14                            Taxes

The Parties
acknowledge and agree that payment of the Put Price by the Company upon the purchase
of all, and not less than all, of the Allocation Shares of the Holder pursuant
to the terms of this Agreement shall be considered payment made in the
liquidation of the interest of a retiring partner (within the meaning of
section 736 of the Code), and shall treat such payment of the Put Price as
having been made in exchange for the Holder’s interest in partnership property
(determined pursuant to Section 736(b) of the Code) in accordance with and
based on an average of the two separate, independently made calculations of the
Business Valuation Amount obtained in conjunctions with the determination of
the Base Put Price Amount as of the Put Right Exercise Date pursuant to Section
2.1(b) hereof.  The Parties further
acknowledge and agree to treat any portion of the Put Price not treated as
having been made in exchange for the Holder’s interest in partnership property
(determined pursuant to section 736(b) of the Code) in accordance with the
preceding sentence as a distributive share or a guaranteed payment (as provided
in section 736(a) of the Code).

Section 6.15                            Confidentiality

The Holder shall
comply with the requirements of Section 13.17 of the Management Services
Agreement with respect to any Confidential Information in the possession of the
Holder or which comes into the possession of the Holder through the exercise of
any of Holder’s rights hereunder.

Section 6.16                            Counterparts

This Agreement may be
executed in any number of counterparts, each of which shall be deemed to be an
original, but all of which together shall constitute but one and the same
instrument.

 15
 

Section
6.17                            Dispute
Resolution

All disputes arising out of this Agreement or relating
to the performance of either Party of its obligations hereunder, which disputes
the Parties are unable to resolve directly between themselves, shall be settled
by arbitration in New York, New York (unless the Holder and the Company agree
upon another location0 before three arbitrators in accordance with the rules
then in effect of the American Arbitration Association.

*     *     *

 16
 

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

	
  

  	
   

  	
  ATLAS INDUSTRIES MANAGEMENT LLC

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Name: 

  	
   

  	
  Andrew M. Bursky

  
	
   

  	
   

  	
  Title:

  	
   

  	
  Managing Member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  ATLAS INDUSTRIES HOLDINGS LLC

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Name: 

  	
   

  	
  Richard C. Gozon

  
	
   

  	
   

  	
  Title:

  	
   

  	
  Lead Independent Director

  

 

 17Exhibit
10.1

CONTRIBUTION,
DISTRIBUTION AND ASSIGNMENT AGREEMENT

This Contribution,
Distribution and Assignment Agreement (the “Agreement”), effective as of
August 15, 2007 (the “Effective Date”), is entered into by and among New
Plan of Elk Grove, LLC, a Delaware limited liability company (“Elk Grove LLC”),
New Plan Property Holding Company, a Maryland real estate investment trust (“Property
Holding Company”), New Plan of Michigan, LLC, a Delaware limited liability
company (“Michigan LLC”), New Plan of Michigan Member, LLC, a Delaware
limited liability company (“Michigan Member LLC”), Excel Realty Trust —
NC, a North Carolina general partnership (“Excel Realty Trust - NC”), NC
Properties #1, LLC, a Delaware limited liability company (“NC Properties #1”),
NC Properties #2, LLC, a Delaware limited liability company (“NC Properties
#2”), HK New Plan Exchange Property Owner II, LP, a Delaware limited
partnership (“Property Owner II”), HK New Plan Lower Tier OH, LLC, a
Delaware limited liability company (“HK NP Lower Tier OH”), HK New Plan
Mid Tier OH, L.P., a Delaware limited partnership (“HK NP Mid Tier OH”),
HK New Plan OH TRS, Inc., a Delaware corporation (“HK NP OH TRS”), HK
New Plan STH Upper Tier II Company, a Maryland real estate investment trust (“HK
NP STH Upper Tier II”), CA New Plan Asset Partnership IV, LP, a Delaware
limited partnership (“Asset Partnership IV”), CA New Plan Asset LLC, a
Delaware limited liability company (“NP Asset LLC”), CA New Plan VI, a
Maryland real estate investment trust (“CA New Plan VI”), Excel Realty
Trust — ST, LLC, a Delaware limited liability company (“Excel Realty Trust —
ST”), New Plan Florida Holdings, LLC, a Delaware limited liability company
(“Florida Holdings”), HK New Plan Exchange Property Owner I, LLC, a
Delaware limited liability company (“Property Owner I”), HK New Plan
Exchange Property Holdings I, LLC, a Delaware limited liability company (“Property
Holdings I”), New Plan Acquisition Company, LLC, a Delaware limited
liability company (“NP Acquisition Company” and, together with Elk Grove
LLC, Property Holdings Company, Michigan LLC, Michigan Member LLC, Excel Realty
Trust — NC, NC Properties #1, NC Properties #2, Property Owner II, HK NP Lower
Tier OH, HK NP Mid Tier OH, HK NP OH TRS, HK NP STH Upper Tier II, Asset
Partnership IV, NP Asset LLC, CA New Plan VI, Excel Realty Trust — ST, Florida
Holdings, Property Owner I and Property Holdings I, the “Current Owners”),
Centro NP LLC, a Maryland limited liability company (“Centro NP LLC”),
Super LLC, a Maryland limited liability company (“Super LLC”) and Centro
NP Residual Holding LLC, a Delaware limited liability company (“NP Residual
Holding” and together with the Current Owners, Centro NP LLC and Super LLC,
each, a “Party” and collectively, the “Parties”).

RECITALS

WHEREAS, the
Current Owners own, directly or indirectly, as applicable, the membership
interests in the limited liability companies listed on Schedule 1 attached
hereto and made a part hereof (collectively, the “Contributed Interests”),
all as more particularly depicted on Schedule 2 attached hereto and made a part
hereof;

WHEREAS, the
Current Owners desire to distribute, assign, transfer and convey all of the
Contributed Interests to Centro NP LLC (the “Initial Distribution”).

    
 

WHEREAS, following
the Initial Distribution, Centro NP LLC shall own the membership interests in
the limited liability companies listed on Schedule 3 attached hereto and made a
part hereof (collectively, the “Centro NP LLC Interests”);

WHEREAS, Centro NP
LLC desires to contribute, assign, transfer and convey forty nine percent (49%)
of the Centro NP LLC Interests to NP Residual Holding (the “Centro NP LLC
Contribution”);

WHEREAS, Centro NP
LLC desires to distribute, assign, transfer and convey fifty one percent (51%)
of the Centro NP LLC Interests (the “Super LLC Interests”) to Super LLC
(the “Centro NP LLC - Super LLC Distribution”); and

WHEREAS, Super LLC
desires to contribute, assign, transfer and convey the Super LLC Interests to
NP Residual Holding (the “Super LLC Contribution”).

AGREEMENT

NOW, THEREFORE, in
consideration of the foregoing premises and for other good and valuable
consideration, the receipt of which are hereby acknowledged, the Parties hereto
hereby agree as follows:

1.  Contributions and Distributions.

1.1   Initial Distribution.  The Current Owners hereby make the Initial
Distribution to Centro NP LLC, and Centro NP LLC hereby accepts such
distribution in accordance with the terms and subject to the conditions set
forth herein.

1.2   Centro NP LLC Contribution.  Effective immediately following consummation
of the Initial Distribution, Centro NP LLC hereby makes the Centro NP LLC
Contribution to NP Residual Holding, and NP Residual Holding hereby accepts
such contribution in accordance with the terms and subject to the conditions
set forth herein.

1.3   Centro NP LLC - Super LLC Distribution.  Effective immediately following consummation
of the Centro NP LLC Contribution, Centro NP LLC hereby makes the Centro NP LLC
- Super LLC Distribution to Super LLC, and Super LLC hereby accepts such
distribution in accordance with the terms and subject to the conditions set
forth herein.

1.4  Super LLC Contribution.  Effective immediately following consummation
of the Centro NP LLC — Super LLC Distribution, Super LLC hereby makes the Super
LLC Contribution to NP Residual Holding, and NP Residual Holding hereby accepts
such contribution in accordance with the terms and subject to the conditions
set forth herein.

2.  Representations and Warranties of the
Parties.  Each Party, individually,
hereby represents and warrants to each of the other Parties as follows: 

2.1  Power and Authority:  The execution, delivery and performance by
the Party of this Agreement and the consummation by the Party of the
transactions contemplated hereby have been duly authorized by all necessary
action on the part of the Party.  This 

 2
 

Agreement has been duly
and validly executed and delivered by the Party and constitutes the valid and
binding obligation of the Party, enforceable against the Party in accordance
with its terms, except to the extent that such enforceability (i) may be
limited by bankruptcy, insolvency, reorganization, moratorium or other similar
laws relating to creditors’ rights generally and (ii) is subject to
general principles of equity.

2.2  No Conflicts:  The execution, delivery and performance of
this Agreement by the Party and the consummation by the Party of the
transactions contemplated hereby will not, with or without the giving of notice
or the lapse of time, or both, (i) violate any provision of law, statute,
rule or regulation to which the Party is subject, (ii) violate any order,
judgment or decree applicable to the Party or (iii) conflict with, or
result in a breach or default under, any term or condition of the organizational
documents of the Party or any material agreement or other instrument to which
the Party is a party or by which it may be bound; except for violations,
conflicts, breaches or defaults which in the aggregate would not materially
hinder or impair the consummation of the transactions contemplated hereby.

2.3  Consents:  No consent, approval or authorization of,
exemption by, or filing with, any governmental or regulatory authority is
required in connection with the execution, delivery and performance by the
Party of this Agreement or the consummation by the Party of the transactions
contemplated hereby.

3.  Fees and Expenses:  The Parties agree to pay all of the fees and
expenses incurred by the Parties hereto in connection with this Agreement,
including, but not limited to the fees, expenses and disbursements of such
Parties, counsel and other advisors.

4.  Notices:  All notices, consents, waivers or other
communications required or permitted hereunder shall be in writing and shall be
mailed by registered or certified mail, return receipt requested, postage
prepaid or otherwise delivered by hand, messenger, internationally recognized
courier or facsimile transmission, addressed:

 3
 

4.1  If sent to any of the Current Owners, to:

c/o Centro NP LLC

420 Lexington Avenue, 7th Floor

New York, NY 10170

Attention:          Steven Siegel

Facsimile:           (212) 869-9585

4.2  If sent to Centro NP LLC, to:

Centro NP LLC

420 Lexington Avenue, 7th Floor

New York, NY 10170

Attention:          Steven Siegel

Facsimile:           (212) 869-9585

4.3  If sent to Super LLC, to:

Super LLC

420 Lexington Avenue, 7th Floor

New York, NY 10170

Attention:          Steven Siegel

Facsimile:           (212) 869-9585

4.4  If sent to NP Residual Holding, to:

Centro NP Residual Holding LLC

420 Lexington Avenue, 7th Floor

New York, NY 10170

Attention:          Steven Siegel

Facsimile:           (212) 869-9585

Each such notice or other communication shall for all
purposes of this Agreement be treated as effective or as having been given when
delivered, if delivered by hand or by messenger (or overnight courier), 24
hours after confirmed receipt if sent by facsimile transmission or at the
earlier of its receipt or on the fifth day after mailing, if mailed, as
aforesaid.

5.  Confidentiality.  The Parties agree to keep the terms and
conditions of this Agreement strictly confidential and not disclose such terms
without the prior written consent of the other Parties, except (a) as may be
required by law and (b) that each Party may disclose such terms and conditions
to its representatives, advisors and counsel who acknowledge the confidentiality
hereof.

 4
 

6.  Miscellaneous.

6.1           THIS AGREEMENT SHALL BE GOVERNED BY
AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE WITHOUT
REGARD TO CONFLICTS OF LAW PRINCIPLES THEREOF.

6.2           This Agreement shall be binding upon
and shall inure to the benefit of the Parties hereto, and their respective
successors and permitted assigns, and no other person will have any rights or
obligation hereunder.  None of the
Parties may assign (whether by operation of law or otherwise) this Agreement.

6.3           This Agreement constitutes the full
and entire understanding and agreement between the Parties hereto with regard
to the subject matter hereof and supersedes all prior oral or written (and all
contemporaneous oral) agreements or understandings with respect to the subject
matter hereof.

6.4           No delay or omission to exercise any
right power or remedy accruing to any Party hereto upon any breach or default
of the other Party hereto under this Agreement shall impair any such right,
power or remedy or such Party, nor shall it be construed to be a waiver of any
such breach or default, or an acquiescence therein, or of or in any similar
breach or default thereunder occurring; nor shall any waiver of any single
breach or default be deemed a waiver of any other breach or default therefore
or thereafter occurring. Any waiver, permit, consent or approval of any kind or
character on the part of any Party hereto of any breach or default under this
agreement, or any waiver on the part of any Party hereto of any provisions or
conditions of this Agreement, must be in writing and shall be effective only to
the extent specifically set forth in such writing.  All remedies, either under this Agreement, or
by law or otherwise afforded to any party, shall be cumulative and not
alternative.

6.5           This Agreement may be executed in any
number of counterparts, each of which may be executed by less than all of the
Parties hereto, each of which shall be enforceable against the Parties actually
executing such counterparts, and all of which together shall constitute one
instrument.

6.6           If any provision of this Agreement, or
its application to any Party hereto, shall be, or be found by an authority of
competent jurisdiction to be, invalid or unenforceable in whole or in part,
such provision shall be constructed and applied so as to give effect, to the
greatest extent possible, the original intent of the Parties hereto.  The invalidity or unenforceability of any of
the provisions of this Agreement shall not affect the other validity herein,
all of which shall remain in full force and effect.

6.7           The Parties stipulate that the
remedies at law of the Parties hereto in the event of any default or threatened
default by either Party in the performance of or compliance with any of the
terms of this Agreement are not and will not be adequate and that, to the
fullest extent permitted by law, such terms may be specifically enforced by a
decree for the specific performance of any agreement contained herein or by an
injunction against a violation of any of the terms hereof or otherwise.  The exercise of any remedy by any of the
Parties shall not 

 5
 

be deemed an election of
remedies or preclude any of the Parties from exercising any other remedies in
the future.

6.8           This Agreement may be amended, modified
or supplemented only by a written instrument signed by all of the Parties.

6.9           All of the Parties hereto irrevocably
submits, in any legal action or proceeding relating to this Agreement, to the
jurisdiction of the courts of the United States and the State of California, in
the city of Los Angeles, and consents that (1) any such action or proceeding
may be brought in such courts and waive any objection that they may now or
hereafter have to the venue of such action or proceeding in any such court or that
such action or proceeding was brought in an inconvenient forum and (2) service
of legal process in any such action or proceeding may be made upon it by
certified mail, return receipt requested, postage prepaid, to such Party at its
address specified in Section 8, provided, that nothing herein shall prevent any
Party hereto from bringing any action in any other jurisdiction.

[Signature Page Follows]

 6

IN WITNESS WHEREOF, the Parties hereto have duly
executed and delivered this Contribution Agreement, with effect as of the date
first written above.

	
  

  	
  NEW PLAN OF ELK GROVE, LLC,

  	
   

  	
   

  	 

	
   

  	
  a Delaware limited liability company

  	
   

  	 

	
   

  	
   

  	
   

  	 

	
   

  	
  By:

  	
  New Plan Property Holding Company, a Maryland

  	 

	
   

  	
   

  	
  real estate investment trust, its sole member

  	 

	
   

  	
   

  	
   

  	 

	
   

  	
  By:

  	
  Centro NP LLC, a Maryland limited liability

  	 

	
   

  	
   

  	
  company, its sole stockholder

  	 

	
   

  	
   

  	
   

  	
   

  	
   

  	 

	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Steven Siegel

  	 

	
   

  	
   

  	
  Name:

  	
  Steven Siegel

  
	
   

  	
   

  	
  Its:

  	
  Executive Vice President

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  NEW PLAN PROPERTY HOLDING COMPANY,

  	 

	
   

  	
  a Maryland real estate investment trust

  	 

	
   

  	
   

  	
   

  	
   

  	
   

  	 

	
   

  	
  By:

  	
  Centro NP LLC, a Maryland limited liability

  company, its sole stockholder

  	 

	
   

  	
   

  	
   

  	 

	
   

  	
   

  	
  By:

  	
  /s/ Steven Siegel

  	 

	
   

  	
   

  	
  Name:

  	
  Steven Siegel

  	 

	
   

  	
   

  	
  Its:

  	
  Executive Vice President 

  	 

													

[Signature
Page for Centro NP Residual Holding LLC Contribution, Distribution and
Assumption Agreement]

    

 

	
  

  	
  NEW PLAN OF MICHIGAN, LLC ,

  	 

	
   

  	
  a Delaware limited liability company

  	
   

  	 

	
   

  	
   

  	
   

  	
   

  	
   

  	 

	
   

  	
  By:

  	
  New Plan of Michigan Member, LLC, a Delaware

  	 

	
   

  	
   

  	
  limited liability company, its sole member

  	 

	
   

  	
   

  	
   

  	 

	
   

  	
   

  	
  By:

  	
  Centro NP LLC, a Maryland limited liability

  	 

	
   

  	
   

  	
  company its sole member

  	
   

  	 

	
   

  	
   

  	
   

  	
   

  	
   

  	 

	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Steven Siegel

  	 

	
   

  	
   

  	
   

  	
  Name:

  	
  Steven Siegel

  	 

	
   

  	
   

  	
   

  	
  Its:

  	
  Executive Vice President

  	 

	
   

  	
   

  	
   

  	
   

  	
   

  	 

	
   

  	
  NEW PLAN OF MICHIGAN MEMBER, LLC,

  	 

	
   

  	
  a Delaware limited liability company

  	
   

  	 

	
   

  	
   

  	
   

  	 

	
   

  	
  By:

  	
  Centro NP LLC, a Maryland limited liability

  	 

	
   

  	
   

  	
  company its sole member

  	 

	
   

  	
   

  	
   

  	 

	
   

  	
   

  	
  By:

  	
  /s/ Steven Siegel

  	 

	
   

  	
   

  	
   

  	
  Name:

  	
  Steven Siegel

  	 

	
   

  	
   

  	
   

  	
  Its:

  	
  Executive Vice President

  	 

	
   

  	
   

  	
   

  	
   

  	
   

  	 

	
   

  	
  EXCEL REALTY TRUST NC,

  	
   

  	 

	
   

  	
  a North Carolina General Partnership

  	
   

  	 

	
   

  	
   

  	
   

  	 

	
   

  	
  By:

  	
  NC Properties #1, LLC, a Delaware limited liability

  	 

	
   

  	
   

  	
  company, its general partner

  	
   

  	 

	
   

  	
   

  	
   

  	
   

  	 

	
   

  	
   

  	
  By:

  	
  Centro NP LLC, a Maryland limited liability

  	 

	
   

  	
   

  	
   

  	
  company, its sole member

  	 

	
   

  	
   

  	
   

  	
   

  	 

	
   

  	
   

  	
  By:

  	
  /s/ Steven Siegel

  
	
   

  	
   

  	
  Name:

  	
  Steven Siegel

  
	
   

  	
   

  	
  Its:

  	
  Executive Vice President

  
													

[Signature
Page for Centro NP Residual Holding LLC Contribution, Distribution and
Assumption Agreement]

    

 

	
  

  	
  By:

  	
  NC Properties #2, LLC, a Delaware limited liability

  
	
   

  	
   

  	
  company, its general partner

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  Centro NP LLC, a Maryland limited liability

  
	
   

  	
   

  	
  company, its sole member

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Steven Siegel

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Steven Siegel

  	
   

  
	
   

  	
   

  	
  Its:

  	
  Executive Vice President

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  NC PROPERTIES #1, LLC,

  	
   

  
	
   

  	
  a Delaware limited liability company

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  Centro NP LLC, a Maryland limited liability

  	
   

  	
   

  
	
   

  	
   

  	
  company, its sole member

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Steven Siegel

  
	
   

  	
   

  	
  Name:

  	
  Steven Siegel

  	
   

  
	
   

  	
   

  	
  Its:

  	
  Executive Vice President

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  NC PROPERTIES #2, LLC,

  	
   

  
	
   

  	
  a Delaware limited liability company

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  Centro NP LLC, a Maryland limited liability

  	
   

  	
   

  
	
   

  	
   

  	
  company, its sole member

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Steven Siegel

  	
   

  
	
   

  	
  Name:

  	
  Steven Siegel

  	
   

  	
   

  
	
   

  	
  Its:

  	
  Executive Vice President

  	
   

  	
   

  
									

[Signature
Page for Centro NP Residual Holding LLC Contribution, Distribution and
Assumption Agreement]

    

 

	
  

  	
   

  	
   

  	
   

  	
  HK NEW PLAN EXCHANGE PROPERTY OWNER II, L.P.,

  	 

	
   

  	
   

  	
   

  	
   

  	
  a Delaware limited partnership

  	 

	
   

  	
   

  	
   

  	
   

  	
   

  	 

	
   

  	
   

  	
   

  	
   

  	
  By:

  	
  HK New Plan Lower Tier OH, LLC, a Delaware

  limited liability company, its general partner

  	 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	 

	
   

  	
   

  	
   

  	
   

  	
   

  	
  By:

  	
  HK New Plan Mid Tier OH, L.P., a

  Delaware limited partnership, its sole member

  	 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	 

	
   

  	
   

  	
   

  	
   

  	
   

  	
  By:

  	
  HK New Plan OH TRS, Inc., a 

  Delaware corporation, its general partner

  	 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	 

	
   

  	
   

  	
   

  	
   

  	
   

  	
  By:

  	
  HK New Plan STH Upper Tier II Company, a Maryland
  real estate investment trust, its sole stockholder

  	 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	 

	
   

  	
   

  	
   

  	
   

  	
   

  	
  By:

  	
  Centro NP LLC, a Maryland limited liability company,
  its sole stockholder

  	 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	 

	
   

  	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Steven Siegel

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Name:

  	
  Steven Siegel

  	 

	
   

  	
   

  	
   

  	
   

  	
   

  	
  Its:

  	
  Executive Vice President

  	 

[Signature
Page for Centro NP Residual Holding LLC Contribution, Distribution and
Assumption Agreement]

    

 

	
  

  	
   

  	
   

  	
  HK NEW PLAN LOWER TIER OH, LLC,

  
	
   

  	
   

  	
   

  	
  a Delaware limited liability company

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  HK New Plan Mid Tier OH, L.P., a

  
	
   

  	
   

  	
   

  	
  Delaware limited partnership, its sole

  
	
   

  	
   

  	
   

  	
  member

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  HK New Plan OH TRS, Inc., a

  
	
   

  	
   

  	
   

  	
  Delaware corporation, its general

  
	
   

  	
   

  	
   

  	
  partner

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  HK New Plan STH Upper Tier II

  
	
   

  	
   

  	
   

  	
  Company, a Maryland real estate

  
	
   

  	
   

  	
   

  	
  investment trust, its sole stockholder

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  Centro NP LLC, a Maryland limited

  
	
   

  	
   

  	
   

  	
  liability company, its sole

  
	
   

  	
   

  	
   

  	
  stockholder

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Steven Siegel

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Name:

  	
  Steven Siegel

  	 

	
   

  	
   

  	
   

  	
  Its:

  	
  Executive Vice President

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  HK NEW PLAN MID TIER OH, L.P.,

  
	
   

  	
   

  	
   

  	
  a Delaware limited partnership

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  HK New Plan OH TRS, Inc., a

  
	
   

  	
   

  	
   

  	
  Delaware corporation, its general partner

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  HK New Plan STH Upper Tier II

  
	
   

  	
   

  	
   

  	
  Company, a Maryland real estate

  
	
   

  	
   

  	
   

  	
  investment trust, its sole stockholder

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  Centro NP LLC, a Maryland limited

  liability company, its sole

  stockholder

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Steven Siegel

  
	
   

  	
   

  	
   

  	
   

  	
  Name:

  	
  Steven Siegel

  	 

	
   

  	
   

  	
   

  	
  Its:

  	
  Executive Vice President

  
											

[Signature
Page for Centro NP Residual Holding LLC Contribution, Distribution and
Assumption Agreement]

    

 

	
  

  	
   

  	
   

  	
  HK NEW PLAN OH TRS, INC.,

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  a Delaware corporation

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  HK New Plan STH Upper Tier II

  
	
   

  	
   

  	
   

  	
   

  	
  Company, a Maryland real estate

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  investment trust, its sole stockholder

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  By:

  	
  Centro NP LLC, a Maryland limited

  	
   

  	
   

  	
   

  	
   

  	 

	
   

  	
   

  	
   

  	
   

  	
   

  	
  liability company, its sole

  	
   

  	
   

  	
   

  	
   

  	 

	
   

  	
   

  	
   

  	
   

  	
   

  	
  stockholder

  	
   

  	
   

  	
   

  	
   

  	 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	 

	
   

  	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Steven Siegel

  	
   

  	
   

  	
   

  	
   

  	 

	
   

  	
   

  	
   

  	
   

  	
   

  	
  Name:

  	
  Steven Siegel

  	
   

  	
   

  	
   

  	 

	
   

  	
   

  	
   

  	
   

  	
   

  	
  Its:

  	
  Executive Vice President

  	
   

  	
   

  	
   

  	 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	 

	
   

  	
   

  	
   

  	
  HK NEW PLAN STH UPPER TIER II COMPANY,

  	
   

  	
   

  	
   

  	 

	
   

  	
   

  	
   

  	
  a Maryland real estate investment trust

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	 

	
   

  	
   

  	
   

  	
  By:

  	
  Centro NP LLC, a Maryland limited

  liability company, its sole

  stockholder

  	
   

  	
   

  	 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	 

	
   

  	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Steven Siegel

  	 

	
   

  	
   

  	
   

  	
   

  	
   

  	
  Name:

  	
  Steven Siegel

  	
   

  	
   

  	 

	
   

  	
   

  	
   

  	
   

  	
   

  	
  Its:

  	
  Executive Vice President

  	
   

  	 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	 

	
   

  	
   

  	
   

  	
  CA NEW PLAN ASSET PARTNERSHIP IV, L.P.,

  	
   

  	
   

  	
   

  	
   

  	 

	
   

  	
   

  	
   

  	
  a Delaware limited partnership

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	 

	
   

  	
   

  	
   

  	
  By:

  	
  CA New Plan Asset LLC, a Delaware limited

  	
   

  	
   

  	
   

  	
   

  	 

	
   

  	
   

  	
   

  	
   

  	
  liability company, its general partner

  	
   

  	
   

  	
   

  	
   

  	 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	 

	
   

  	
   

  	
   

  	
   

  	
  By:

  	
  Centro NP LLC, a Maryland limited liability

  	
   

  	
   

  	
   

  	 

	
   

  	
   

  	
   

  	
   

  	
  company, its sole member

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	 

	
   

  	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Steven Siegel

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	 

	
   

  	
   

  	
   

  	
   

  	
  Name:

  	
  Steven Siegel

  	
   

  	
   

  	
   

  	
   

  	
   

  	 

	
   

  	
   

  	
   

  	
   

  	
  Its:

  	
  Executive Vice President

  	
   

  	
   

  	
   

  	
   

  	
   

  	 

																											

[Signature
Page for Centro NP Residual Holding LLC Contribution, Distribution and
Assumption Agreement]

    

 

	
  

  	
   

  	
  CA NEW PLAN ASSET LLC,

  	
   

  	
   

  
	
   

  	
   

  	
  a Delaware limited liability company

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  Centro NP LLC, a Maryland limited liability

  
	
   

  	
   

  	
   

  	
  company, its sole member

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Steven Siegel

  
	
   

  	
   

  	
  Name:

  	
  Steven Siegel

  	
   

  
	
   

  	
   

  	
  Its:

  	
  Executive Vice President

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  

  	
   

  	
  CA NEW PLAN VI,

  	
   

  	
   

  
	
   

  	
   

  	
  a Maryland real estate investment trust

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  Centro NP LLC, a Maryland limited liability

  
	
   

  	
   

  	
   

  	
  company, its sole shareholder

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Steven Siegel

  
	
   

  	
   

  	
  Name:

  	
  Steven Siegel

  	
   

  
	
   

  	
   

  	
  Its:

  	
  Executive Vice President

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  

  	
   

  	
  EXCEL REALTY TRUST-ST, LLC,

  	
   

  	
   

  
	
   

  	
   

  	
  a Delaware limited liability company

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  Centro NP LLC, a Maryland limited liability 

  company, its sole member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Steven Siegel

  
	
   

  	
   

  	
  Name:

  	
  Steven Siegel

  	
   

  
	
   

  	
   

  	
  Its:

  	
  Executive Vice President

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  NEW PLAN FLORIDA HOLDINGS, LLC,

  	
   

  	
   

  
	
   

  	
   

  	
  a Delaware limited liability company

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  Centro NP LLC, a Maryland limited liability 

  company, its sole member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Steven Siegel

  
	
   

  	
   

  	
  Name:

  	
  Steven Siegel

  	
   

  
	
   

  	
   

  	
  Its:

  	
  Executive Vice President

  	
   

  
								

[Signature
Page for Centro NP Residual Holding LLC Contribution, Distribution and
Assumption Agreement]

    

 

	
  

  	
  HK NEW PLAN EXCHANGE PROPERTY OWNER I,

  LLC,

  	
   

  	
   

  
	
   

  	
  a Delaware limited liability company

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  HK New Plan Exchange Property Holdings I, LLC,

  	
   

  	
   

  
	
   

  	
   

  	
  a Delaware limited liability company, its sole

  	
   

  	
   

  
	
   

  	
   

  	
  member

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  HK New Plan STH Upper Tier II Company,

  	
   

  
	
   

  	
   

  	
   

  	
  a Maryland real estate investment trust, its

  	
   

  
	
   

  	
   

  	
   

  	
  sole member

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  Centro NP LLC, a Maryland limited

  	
   

  
	
   

  	
   

  	
   

  	
  liability company, its sole

  	
   

  
	
   

  	
   

  	
   

  	
  stockholder

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Steven Siegel

  	
   

  
	
   

  	
   

  	
   

  	
  Name:

  	
  Steven Siegel

  
	
   

  	
   

  	
   

  	
  Its:

  	
  Executive Vice President

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  HK NEW PLAN EXCHANGE PROPERTY HOLDINGS

  	
   

  	
   

  
	
   

  	
  I, LLC,

  	
   

  	
   

  	
   

  
	
   

  	
  a Delaware limited liability company

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  HK New Plan STH Upper Tier II Company,

  	
   

  	
   

  
	
   

  	
   

  	
  a Maryland real estate investment trust, its

  	
   

  	
   

  
	
   

  	
   

  	
  sole member

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  Centro NP LLC, a Maryland limited

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  liability company, its sole

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  stockholder

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Steven Siegel

  	
   

  
	
   

  	
   

  	
   

  	
  Name:

  	
  Steven Siegel

  
	
   

  	
   

  	
   

  	
  Its:

  	
  Executive Vice President

  
												

 

[Signature Page
for Centro NP Residual Holding LLC Contribution, Distribution and Assumption
Agreement]

 

    

 

	
  

  	
  NEW PLAN ACQUISITION COMPANY, LLC,

  	
   

  	
   

  
	
   

  	
  a Delaware limited liability company

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  Centro NP LLC, a Maryland limited liability 

  company, its sole member

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Steven Siegel

  	
   

  
	
   

  	
   

  	
   

  	
  Name:

  	
  Steven Siegel

  
	
   

  	
   

  	
   

  	
  Its:

  	
  Executive Vice President

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  CENTRO NP LLC,

  	
   

  	
   

  	
   

  
	
   

  	
  a Maryland limited liability company

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Steven Siegel

  	
   

  
	
   

  	
   

  	
   

  	
  Name:

  	
  Steven Siegel

  
	
   

  	
   

  	
   

  	
  Its:

  	
  Executive Vice President

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  SUPER LLC,

  	
   

  	
   

  	
   

  
	
   

  	
  a Maryland limited liability company

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Steven Siegel

  	
   

  
	
   

  	
   

  	
   

  	
  Name:

  	
  Steven Siegel

  
	
   

  	
   

  	
   

  	
  Its:

  	
  Executive Vice President

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  CENTRO NP RESIDUAL HOLDING LLC,

  	
   

  
	
   

  	
  a Delaware limited liability company

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Steven Siegel

  	
   

  
	
   

  	
   

  	
   

  	
  Name:

  	
  Steven Siegel

  
	
   

  	
   

  	
   

  	
  Its:

  	
  Executive Vice President

  
										

[Signature Page for
Centro NP Residual Holding LLC Contribution, Distribution and Assumption
Agreement]

    

Schedule
1

Contributed
Interests

	
  Name of
  Contributor

  	
   

  	
  Name of
  Entity

  	
   

  	
  Entity Type

  	
   

  	
  Percentage

  
	
  New Plan of Elk Grove, LLC

  	
   

  	
  Centro NP Holdings 1 SPE, LLC

  	
   

  	
  limited liability company

  	
   

  	
  12.69%

  
	
  New Plan of Michigan, LLC

  	
   

  	
  Centro NP Holdings 1 SPE, LLC

  	
   

  	
  limited liability company

  	
   

  	
  5.03%

  
	
  Excel Realty Trust — NC

  	
   

  	
  Centro NP Holdings 1 SPE, LLC

  	
   

  	
  limited liability company

  	
   

  	
  13.36%

  
	
  HK New Plan Exchange Property Owner II, LP

  	
   

  	
  Centro NP Holdings 1 SPE, LLC

  	
   

  	
  limited liability company

  	
   

  	
  7.33%

  
	
  CA New Plan Asset Partnership IV, LP

  	
   

  	
  Centro NP Holdings 1 SPE, LLC

  	
   

  	
  limited liability company

  	
   

  	
  23.48%

  
	
  Excel Realty Trust — ST, LLC

  	
   

  	
  Centro NP East Lake Pavilions, LLC

  	
   

  	
  limited liability company

  	
   

  	
  100%

  
	
  New Plan Florida Holdings, LLC

  	
   

  	
  Centro NP Miami Gardens, LLC

  	
   

  	
  limited liability company

  	
   

  	
  100%

  
	
  HK New Plan Exchange Property Owner I, LLC

  	
   

  	
  Centro NP Tarpon Mall, LLC

  	
   

  	
  limited liability company

  	
   

  	
  100%

  
	
   

  	
   

  	
  Centro NP Mableton Walk, LLC

  	
   

  	
  limited liability company

  	
   

  	
  100%

  
	
   

  	
   

  	
  Centro NP Paradise Pavilion,
  LLC

  	
   

  	
  limited liability company

  	
   

  	
  100%

  
	
  New Plan Acquisition Company, LLC

  	
   

  	
  Centro NP Stockbridge Village, LLC

  	
   

  	
  limited liability company

  	
   

  	
  100%

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00128-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00128-of-00352.parquet"}]]