Document:

EX-10.25

 Exhibit 10.25 

ATD CORPORATION 
 CASH
INCENTIVE PLAN 
 This Cash Incentive Plan (the “Plan”) has been established to advance the interests of ATD Corporation (the
“Company”) by providing for the grant of Cash Incentive Awards (as defined below) to eligible employees of the Company and its subsidiaries, including Cash Incentive Awards intended to qualify for the performance-based compensation
exemption (“Exempt Cash Incentive Awards”) under Section 162(m) of the Internal Revenue Code of 1986, as amended (the “Code”) (Section 162(m) of the Code, together with the regulations thereunder, “Section
162(m)”), to the extent applicable. 
 I. ADMINISTRATION 

The Plan will be administered by the Committee and its delegates (the Committee and its delegates, to the extent of such delegation, are
referred to herein as the “Administrator”); provided, that all determinations and other actions of the Administrator required by the performance-based compensation provisions of Section 162(m) to be made or taken by a
“compensation committee” (as defined in Section 162(m)) will be made or taken hereunder directly by the Committee, and all references to the Administrator herein are to be construed accordingly. For purposes of the Plan,
“Committee” means the Compensation Committee of the Board of Directors of the Company, except that if any member of the Compensation Committee is not an “outside director” (as defined in Section 162(m)),
“Committee” means a subcommittee of the Compensation Committee consisting solely of those Compensation Committee members who are “outside directors” as so defined. 

The Administrator has the authority to interpret the Plan and Cash Incentive Awards, to determine eligibility for Cash Incentive Awards, to
determine the terms of and the conditions applicable to any Cash Incentive Award, and generally to do all things necessary to administer the Plan. Any interpretation or decision by the Administrator with respect to the Plan or any Cash Incentive
Award will be final and conclusive as to all parties. 
 II. ELIGIBILITY; PARTICIPANTS 

Executive officers and other key employees of the Company and its subsidiaries shall be eligible to participate in the Plan. The Administrator
will select, from among those eligible, the persons who will from time to time participate in the Plan (each, a “Participant”). Participation with respect to one Cash Incentive Award under the Plan will not entitle an individual to
participate with respect to a subsequent Cash Incentive Award or Cash Incentive Awards, if any. 
 III. GRANT OF AWARDS 

The term “Cash Incentive Award” as used in the Plan means an award opportunity that is payable in cash and is granted to a
Participant with respect to a specified performance period (consisting of the Company’s fiscal year or such other period as the Administrator may determine, each a “Performance Period”). A Participant who is granted a Cash Incentive
Award will be entitled to a payment, if any, under the Cash Incentive Award only if all conditions to payment have been satisfied in accordance with the Plan and the terms of the Cash Incentive 

 
Award. By accepting (or, under such rules as the Administrator may prescribe, being deemed to have accepted) a Cash Incentive Award, the Participant agrees (or will be deemed to have agreed) to
the terms of the Cash Incentive Award and the Plan. For each Cash Incentive Award, the Administrator shall establish the following: 
 (a)
the Performance Criteria (as defined in Section IV below) applicable to the Cash Incentive Award; 
 (b) the amount or amounts that will be
payable (subject to adjustment in accordance with Section V) if the Performance Criteria are achieved. For the avoidance of doubt and without limiting the generality of the foregoing, the Administrator may grant a Participant an interest in a pool
to which specified amounts will be allocated if certain Performance Criteria are achieved at specified levels; and 
 (c) such other terms
and conditions as the Administrator deems appropriate, subject in each case to the terms of the Plan. 
 For Exempt Cash Incentive Awards,
(i) such terms shall be established by the Committee not later than (A) the ninetieth (90th) day after the beginning of the Performance Period, in the case of a Performance Period of 360 days or longer, or (B) the end of the
period constituting the first quarter of the Performance Period, in the case of a Performance Period of less than 360 days, and (ii) once the Committee has established the terms of such Cash Incentive Award in accordance with the foregoing, it
shall not thereafter adjust such terms, except to reduce payments, if any, under the Cash Incentive Award in accordance with Section V or as otherwise permitted in accordance with the requirements of Section 162(m). 

IV. PERFORMANCE CRITERIA 

As used in the Plan, “Performance Criteria” means specified criteria, other than the mere continuation of employment or the mere
passage of time, the satisfaction of which is a condition for the vesting, payment or full enjoyment of a Cash Incentive Award. A Performance Criterion and any targets with respect thereto determined by the Administrator need not be based upon an
increase, a positive or improved result or avoidance of loss, may consist of individual and/or Company-related goals and may be applied to a Participant or Participants on an individual basis or with respect to a business unit or division or the
Company as a whole. For Exempt Cash Incentive Awards, a Performance Criterion will mean an objectively determinable measure or objectively determinable measures of performance relating to any or any combination of the following (measured either
absolutely or by reference to an index or indices and determined either on a consolidated basis or, as the context permits, on a divisional, subsidiary, line of business, project or geographical basis or in combinations thereof and subject to such
adjustments, if any, as the Committee specifies, consistent with the requirements of Section 162(m)): sales; revenues; assets; expenses; earnings before or after deduction for all or any portion of interest, taxes, depreciation, amortization or
equity expense, whether or not on a continuing operations or an aggregate or per share basis; return on equity, investment, capital, capital employed or assets; one or more operating ratios; operating income or profit, including on an after tax
basis; borrowing levels, leverage ratios or credit rating; market share; capital expenditures; cash flow; stock price; stockholder return; sales of particular products or services; customer acquisition or retention; acquisitions and divestitures (in
whole or in part); joint ventures and strategic alliances; spin-offs, split-ups and the like; reorganizations; or 

  
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recapitalizations, restructurings, financings (issuance of debt or equity) or refinancings. To the extent consistent with the requirements of Section 162(m), the Committee may establish, by
the deadline that otherwise applies to the establishment of the terms of an Exempt Cash Incentive Award, that, in the case of any such Exempt Cash Incentive Award, one or more of the Performance Criteria applicable to such Cash Incentive Award will
be adjusted in an objectively determinable manner to reflect events (for example, the impact of charges for restructurings, discontinued operations, mergers, acquisitions, extraordinary items, and other unusual or non-recurring items, and the
cumulative effects of tax or accounting changes, each as defined by U.S. generally accepted accounting principles) occurring during the Performance Period that affect the applicable Performance Criterion or Criteria. With respect to Cash Incentive
Awards other than Exempt Cash Incentive Awards, the Administrator may provide that such Cash Incentive Award, and any related Performance Criterion or Criteria, will be adjusted in any manner prescribed by the Administrator in its sole discretion.

 V. CERTIFICATION OF PERFORMANCE; AMOUNT PAYABLE UNDER AWARDS 

As soon as practicable after the close of a Performance Period, the Administrator will determine whether and to what extent, if at all, the
Performance Criterion or Criteria applicable to each Cash Incentive Award granted for the Performance Period have been satisfied and, in the case of Exempt Cash Incentive Awards, will take such steps as it determines to be sufficient to satisfy the
certification requirement under Section 162(m) as to such performance results. The Administrator shall then determine the actual payment, if any, under each Cash Incentive Award. No amount may be paid under any Exempt Cash Incentive Award
unless such certification requirement has been satisfied as set forth above, except as provided by the Administrator consistent with the requirements of Section 162(m). The Administrator may, in its sole and absolute discretion and with or
without specifying its reasons for doing so, after determining the amount that would otherwise be payable under any Cash Incentive Award for a Performance Period, reduce (including to zero) the actual payment, if any, to be made under such Cash
Incentive Award or, in the case of Cash Incentive Awards other than Exempt Cash Incentive Awards, otherwise adjust the amount payable under such Cash Incentive Award. The Administrator may exercise the discretion described in the immediately
preceding sentence either in individual cases or in ways that affect more than one Participant. The actual payment under an Exempt Cash Incentive Award may be less than (but in no event more than) the amount indicated by the certified level of
achievement under such Cash Incentive Award. The actual payment under a Cash Incentive Award other than an Exempt Cash Incentive Award may be more or less than the amount indicated by the level of achievement under the Cash Incentive Award. In each
case, the Administrator’s discretionary determination, which may affect different Cash Incentive Awards differently, will be binding on all parties. 

  
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 VI. PAYMENT UNDER AWARDS 

Except as otherwise determined by the Administrator or as otherwise provided in this Section VI, all payments under the Plan will be made, if
at all, not later than March 15th of the calendar year following the calendar year in which the Performance Period ends; provided, that the Administrator may authorize elective deferrals of
any Cash Incentive Award payments in accordance with the deferral rules of Section 409A of the Code and the regulations thereunder (“Section 409A”). The Administrator may, but need not, provide that a Cash Incentive Award payment will
not be made unless a Participant has remained employed with the Company and its subsidiaries through the date of payment. Any deferrals with respect to an Exempt Cash Incentive Award will be subject to adjustment for notional interest or other
notional earnings (if any) on a basis, determined by the Administrator, that is consistent with qualification of the Cash Incentive Award as exempt performance-based compensation under Section 162(m). Cash Incentive Awards under the Plan are
intended either to qualify for exemption from, or to comply with the requirements of, Section 409A. 
 VII. PAYMENT LIMITS 

The maximum amount payable to any person in any fiscal year of the Company under Exempt Cash Incentive Awards will be $5,000,000, which
limitation, with respect to any such Cash Incentive Awards for which payment is deferred in accordance with Section VI above, shall be applied without regard to such deferral. 

VIII. TAX WITHHOLDING; LIMITATION ON LIABILITY 

All payments under the Plan will be subject to reduction for applicable tax and other legally or contractually required withholdings. 

Neither the Company nor any affiliate, nor the Administrator, nor any person acting on behalf of the Company, any affiliate, or the
Administrator, will be liable for any adverse tax or other consequences to any Participant or to the estate or beneficiary of any Participant or to any other holder of a Cash Incentive Award that may arise or otherwise be asserted with respect to a
Cash Incentive Award, including, but not limited to, by reason of the application of Section X below or any acceleration of income or any additional tax (including any interest and penalties) asserted by reason of the failure of a Cash Incentive
Award to satisfy the requirements of Section 409A or by reason of Section 4999 of the Code. 
 IX. AMENDMENT AND TERMINATION

 The Committee may amend the Plan at any time and from time to time; provided, however, that, with respect to Exempt Cash Incentive
Awards, no amendment for which Section 162(m) would require shareholder approval in order to preserve the eligibility of such Cash Incentive Awards as exempt performance-based compensation shall be effective unless approved by the shareholders
of the Company in a manner consistent with the requirements of Section 162(m). The Committee may at any time terminate the Plan. 

  
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 X. MISCELLANEOUS 

Cash Incentive Awards held by a Participant are subject to forfeiture, termination and rescission, and a Participant will be obligated to
return to the Company payments received with respect to Cash Incentive Awards, in each case, to the extent provided by the Administrator in connection with (i) a breach by the Participant of a Cash Incentive Award agreement or the Plan, or any
non-competition, non-solicitation, confidentiality or similar covenant or agreement with the Company or any of its affiliates or (ii) an overpayment to the Participant of incentive compensation due to inaccurate financial data. Without limiting
the generality of the foregoing, the Administrator may recover Cash Incentive Awards and payments under any Cash Incentive Award in accordance with any applicable Company clawback or recoupment policy, as such policy may be amended and in effect
from time to time, or as otherwise required by applicable law or applicable stock exchange listing standards, including, without limitation, Section 10D of the Securities Exchange Act of 1934, as amended. Each Participant, by accepting a Cash
Incentive Award pursuant to the Plan, agrees to return the full amount required under this Section X at such time and in such manner as the Administrator shall determine in its sole discretion, consistent with applicable law. 

No person shall have any claim or right to be granted a Cash Incentive Award, nor shall the selection for participation in the Plan for any
Performance Period be construed as giving a Participant the right to be retained in the employ or service of the Company or its affiliates for that Performance Period or for any other period. The loss of a Cash Incentive Award will not constitute an
element of damages in the event of termination of employment for any reason, even if the termination is in violation of an obligation of the Company or any affiliate to the Participant. 

In the case of any Exempt Cash Incentive Award, the Plan and such Cash Incentive Award will be construed and administered to the maximum
extent permitted by law in a manner consistent with qualifying the Cash Incentive Award for the exemption for performance-based compensation under Section 162(m), notwithstanding anything to the contrary in the Plan. Cash Incentive Awards will
not be required to comply with the provisions of the Plan applicable to Exempt Cash Incentive Awards (including, without limitation, the composition of the Committee as set forth in Section I above) if and to the extent they are eligible (as
determined by the Committee) for exemption from such limitations by reason of the transition relief set forth in Treas. Reg. § 1.162-27(f). 

The Plan shall be effective upon adoption of the Plan by the Board of Directors of the Company (the “Effective Date”) and shall
supersede and replace the Company’s annual cash bonus program with respect to Cash Incentive Awards granted to eligible executive officers and employees for fiscal years beginning after the Effective Date. 

  
 5EX-10.1

 Exhibit 10.1 

Chris Campbell   #056682 
 HEISINGER, BUCK &
MORRIS 
 P.O. Box 5427- Sixth & Dolores Streets 

Carmel, California   93921 
 Telephone
(831) 624-3891 
 Facsimile (831) 625-0145 

Attorneys for Petitioner John L. McDonnell, Jr., Trustee 

SUPERIOR COURT OF THE STATE OF CALIFORNIA 

FOR THE COUNTY OF MONTEREY 
  

							
	In re the	  	)	  		  	Case No. P 31598
		  	)	  		  	
	 JARVIS FAMILY TRUSTS
	  	)	  		  	BID TO PURCHASE REAL PROPERTY:
	 Under an Agreement between
	  	)	  		  	ACCEPTANCES BY REPRESENTATIVE
	 Todd Henry Jarvis and James
	  	)	  		  	AND BY REAL ESTATE BROKER
	 Alvin Jarvis dated Dec. 18, 1998
	  	)	  		  	
		  	)	  		  	
		  	)	  		  	
		  	)	  		  	Date:     December 17, 2014
		  	)	  		  	Time:     1:30 p.m.
	  
	  	)	  		  	Dept:     14

 To John L. McDonnell, Jr., trustee of the Jarvis Replacement Administrative Trust dated May 28, 2004, and
approved by Monterey County Superior Court on June 28, 2004 (“the Jarvis Trust”): Gladstone Land Corporation or its assignee, the undersigned bidder (“Bidder”), hereby offers the sum of $16,964,020.74, all cash
at close of escrow on January 5, 2015, to purchase the real property belonging to the Jarvis Trust which is commonly known as the Jarvis Ranch, Monterey County APN 253-012-053-000, more particularly described in Exhibit A, which is attached to
and incorporated in this bid (“the property”), subject to current taxes, covenants, conditions, restrictions, reservations, rights, rights-of-way, and easements of record. 

Delivered to you with this bid is a certified check for two hundred fifty thousand dollars ($250,000), which shall be deposited into escrow
and applied against the purchase price. The balance of the purchase price to be paid on confirmation of this sale by the Court prior to close of escrow on January 5, 2015. Bidder acknowledges that, should Bidder fail to qualify to purchase the
property or fail to close escrow in a timely fashion, Bidder may be required to pay such a sum as the Court shall determine for any damages incurred by the Jarvis Replacement Administrative Trust as a result of such failure. 

  

			
	 Bid to Purchase Real Property

In re JARVIS FAMILY TRUSTS,  MP 31598
	  	1

 Bidder agrees that the property is sold “as-is,” except for title, in its present
condition as of the date of acceptance. Bidder has reviewed the amended preliminary title report from Chicago Title effective November 19, 2014. In the event that any encumbrances not shown on that report are recorded prior to close of escrow,
or if an appeal of the order confirming sale is filed, The Jarvis Trust agrees to remove such encumbrances orobtain relief from the stay created by such appeal, prior to close of escrow at The Jarvis Trust’s sole cost, within 30 days from the
date The Jarvis Trust is notified of the encumbrance or appeal, or Bidder shall be entitled, in its discretion and by written notice to The Jarvis Trust, to terminate the offer evidenced hereby and obtain return of the $250,000 deposit, in which
case the Bidder shall not be required by the Court to pay any damages to The Jarvis Trust and the parties shall have no further obligation to each other. There are no contingencies to this offer. 

The Jarvis Trust shall pay all costs for a Standard Title Policy, one-half of recording and escrow fees, and all County transfer taxes. Bidder
agrees to pay the additional costs of any Extended Title Policy (in excess of the cost of a Standard Title Policy) and the cost of any ALTA survey required to obtain an Extended Title Policy, and one-half of the recording fees and escrow fees. 

Rentals, taxes, expenses of operation and maintenance, and premiums on insurance, if applicable, shall be prorated as of the date of close of
escrow. 
 The following encumbrance is to be satisfied from the purchase price: the deed of trust dated February 8, 2012, in the
amount of one million five hundred thousand dollars ($1,500,000), recorded February 23, 2012, as document 2012011427 of the Official Records of Monterey County. 

Bidder acknowledges that the property is currently the subject of a legal condemnation action filed by the State of California Department of
Transportation for the purpose of taking through eminent domain a portion of the property consisting of approximately 4.531 acres. Bidder further acknowledges that, if this sale is approved, Bidder will become a defendant in this action, which is
Monterey County Superior Court Case No. M98919. Bidder has been directed to review the court file on that action for further details, and Bidder is satisfied that Bidder understands and appreciates the consequences of becoming a defendant in that
action. 

  

			
	 Bid to Purchase Real Property

Inre JARVIS FAMILY TRUSTS,  MP 31598
	  	2

 Bidder has received and reviewed a copy of the Report of Sale and Petition for Order Confirming
Sale of Real Property filed in this case on November 13, 2014, including its exhibits. 
 Bidder agrees to cooperate with the the
Jarvis Trust to effectuate an Internal Revenue Code Section 1031 tax-free exchange of all or a portion of the property, at no delay, additional cost, liability, or expense to Bidder. Bidder understands that the sale is not conditioned upon the
ability to complete such an exchange. 
 At the close of escrow, title to the property will be taken in the following manner: 

Gladstone Land Corporation or its asignee to be determined prior to closing 

 
  

 
 Bidder understands that this sale is
conditioned upon approval by Monterey County Superior Court. Bidder understand that Bidder must provide proof, to the satisfaction of the trustee of the Jarvis Trust, of the ability to close escrow on January 5, 2015. 

Bidder understands that the contract of sale which is before the Court for confirmation, includes a commission of 4% to be paid by the Jarvis
Trust to the broker for the buyer under that contract. Bidder is represented by the following real estate broker: Pacific Southwest Realty Services Bidder understand that any real estate commission paid on this sale will be allocated in
accordance with California Probate Code Sections 10160, et seq. 
 Date: December 17, 2014 

 

	
	  

	(Bidder’s signature)
	
	 GLADSTONE LAND CORPORATION, BY
BILL REIMAN, MANAGING DIRECTOR

	(Print name and capacity)

 ACCEPTANCE BY SELLER 

Subject to confirmation by this Court, I, John L. McDonnell, Jr., as trustee of the Jarvis Replacement Administrative Trust dated May 28,
2004, and approved by Monterey County Superior Court on June 28, 2004, hereby accept the foregoing bid of Gladstone Land Corporation or its assignee as purchaser of all right, title, and interest of the Jarvis Trust in the property on
the terms stated, and I hereby agree to pay to Pacific Southwest Realty Services, as real estate broker for the buyer, from proceeds of sale at close of escrow such sum as the Court shall allow, to be paid and allocated, between 

  

			
	 Bid to Purchase Real Property

In re JARVIS FAMILY TRUSTS,  MP 31598
	  	3

 
this broker and the broker for the buyer under the purchase contract brought to court for confirmation, as the Court shall direct, in accordance with California Probate Code Sections 10160, et
seq. 
 Date: 12-17-2014 
  

	
	  
 John L, McDonnell, Jr.,
Trustee

 ACCEPTANCE BY BROKER 

I, Robert T. Ludwick, a real estate broker duly licensed in California, having secured the purchaser above, hereby accept the foregoing
undertaking of John L. McDonnell, Jr., to pay such sums in commission as shall be allocated by the Court. 
  

			
	Date: 12-16-2014	 	                                      
                                         
                 
		
		 	Print name: Robert T. Ludwick            
		 	                   Pacific Southwest Realty Services

  

			
	 Bid to Purchase Real Property

In re JARVIS FAMILY TRUSTS,  MP 31598
	  	4

 Title No. 10-52111256-I-JF 

Locate No.CACT17727-7727-4521-0052111256 

LEGAL DESCRIPTION 
 EXHIBIT
“A” 
 THE LAND REFERRED TO HEREIN BELOW IS SITUATED IN THE COUNTY OF MONTEREY, STATE OF CALIFORNIA, AND IS DESCRIBED AS FOLLOWS: 

That portion of Lots VIII and IX and a portion of Lots X and XI of the Santa Rita Rancho, in the County of Monterey,State of california, being a portion of
the land described in the deed from california Lands Inc., a corporation,to Alvin C. H. Jarvis 1 et ux, dated November 16, 1933, recorded December 5, 1933 in Volume 378, Official
Records, at Page 146, Monterey County Records, and described as follows: 
 Beginning at a stake on the south line of the Natividad and Castroville County
Road, at the northeast corner of Lot X as per map of said Santa Rita Rancho, made by Charles T. Healey, in September 1875; thence 
 (1) N. 70-3/4° W.,
4748.04 feet to the northwest corner of Lot VIII; thence 
 (2) S. 19° W., 3026.76 feet to stake marked “22”; thence 

(3) S. 67-1/2° E., 1471.80 feet to a stake marked “P.H.l”; thence 

(4) S. 73° E., E., 2850.54 feet to a stake marked “P.H.”,at the northeast corner of Lot XVII of said Rancho; thence 

(5) S. 79-1/4° E., 780.12 feet to a stake on the west boundary of the Town of Santa
Rita;thence 
 (6) North/ 291.72 feet to a stake marked “M.L.”, at the northwest corner of
said Town of Santa Rita,at the Southwest corner of the land described in the deed to tile Roman Catholic Bishop of Monterey-Fresno, a corporation, sole,dated January 6, 1930, recorded in Book 223, Page 245, Official Records;thence along
the west boundary of said land, 
 (7) N. 0° 51’ E., 1015.6 feet to the northwest corner thereof; thence along the north boundary of said land/

 (8) S. 89° 09’ E., 517.94 feet to a 4” x 4” post in the westerly line of the Salinas-San Miguel canyon Road on the boundary of said
Lot X; thence along the said line of said road, 
 (9) N. 0° 51’ East, 1563.12 feet to the point of beginning. 

Except therefrom that portion of said land described in the Deed to the State of California, recorded April 20, 1931 in Book 291, Page 73, Official Records.

 Also Except therefrom that portion of said land described in the deed to the State of California, recorded November 19, 1945 in Book 901, Page 50,
Official Records. 
 Also Except therefrom that portion of said land conveyed to State of California by Deed recorded January 7, 1972 in Reel 745, Official
Records, at Page 977. 
 Also Except therefrom that portion of said land described in the Final Order of Condemnation, entered September 16, 1969 in
Superior Court, County of Monterey, Case No. 56450, a certified copy thereof recorded September 16, in Reel 621, Page 242, Official Records. 
 APN:
253-012-053 
  

  

			
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CLTA Preliminary Report Form- Modified (11/17/06)

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