Document:

exv10w1

Exhibit 10.1

VOTING AND SUPPORT AGREEMENT

     This VOTING AND SUPPORT AGREEMENT (this “Agreement”), dated as of May 17, 2010, is
entered into by and among MAN GROUP PLC, a public limited company incorporated under the laws of
England and Wales (“Parent”), ESCALATOR SUB 1 INC., a Delaware corporation and a wholly
owned Subsidiary of Parent (“Merger Sub”), and each of the stockholders listed on Schedule
I hereto (each, a “Stockholder” and, collectively with any Permitted Trust
Transferee, the “Stockholders”).

     WHEREAS, concurrently with the execution of this Agreement, GLG Partners, Inc., a Delaware
corporation (the “Company”), Parent and Merger Sub are entering into an Agreement and Plan
of Merger of even date herewith (as may be amended in connection with Section 5.3(b) therein, the
“Merger Agreement”);

     WHEREAS, concurrently with the execution of this Agreement, the parties hereto are entering
into a share exchange agreement of even date herewith (the “Share Exchange Agreement”);

     WHEREAS, capitalized terms used but not defined in this Agreement have the meanings ascribed
thereto in the Merger Agreement;

     WHEREAS, as of the date hereof, each Stockholder is the record and beneficial owner of, or is
a Trustee Party (as defined herein) that is the record holder of and whose beneficiaries are the
beneficial owners of, the number of shares of Company Common Stock and Company Preferred Stock
(together with the Company Common Stock, the “Shares”), as set forth opposite such
Stockholder’s name on Schedule I hereto (such Shares, together with any other Shares that are
acquired by the Stockholders after the date hereof, being collectively referred to herein as the
“Covered Shares”); and

     WHEREAS, as a condition to their willingness to enter into the Merger Agreement and to
Parent’s willingness to enter into the Share Exchange Agreement, Parent and Merger Sub have
required that each Stockholder enter into this Agreement and, in order to induce Parent and Merger
Sub to enter into the Merger Agreement and to induce Parent to enter into the Share Exchange
Agreement, each Stockholder is willing to enter into this Agreement.

     NOW, THEREFORE, in consideration of the foregoing and the mutual covenants and agreements
contained herein, the parties hereto, intending to be legally bound hereby, agree as follows:

     1. Agreements of Stockholders.

          (a) Voting. From the date hereof until any termination of this Agreement in
accordance with its terms, at any meeting of the stockholders of the Company however called (or any
action by written consent in lieu of a meeting) or any adjournment thereof, each Stockholder shall
vote all Covered Shares owned by such

 

 

Stockholder (or cause them to be voted) or (as appropriate) execute written consents in
respect thereof, (i) in favor of the adoption of the Merger Agreement and the approval of the
transactions contemplated by the Merger Agreement, (ii) against any Takeover Proposal and (iii)
against any agreement (including, without limitation, any amendment of any agreement), amendment of
the Company’s Organizational Documents or other action that is intended or could reasonably be
expected to prevent, impede, interfere with, delay, postpone or discourage the consummation of the
Merger. Any such vote shall be cast (or consent shall be given) by each Stockholder in accordance
with such procedures relating thereto so as to ensure that it is duly counted, including for
purposes of determining that a quorum is present and for purposes of recording the results of such
vote (or consent).

          (b) [Reserved]

          (c) Restriction on Transfer; Proxies; Non-Interference; etc. From the date hereof
until any termination of this Agreement in accordance with its terms, each Stockholder shall not,
directly or indirectly, (i) sell, transfer (including by operation of law), give, pledge, encumber,
assign or otherwise dispose of, or enter into any contract, option or other arrangement or
understanding with respect to the sale, transfer, gift, pledge, encumbrance, assignment or other
disposition of, any Covered Shares (or any right, title or interest thereto or therein), (ii)
deposit any Covered Shares into a voting trust or grant any proxies or enter into a voting
agreement, power of attorney or voting trust with respect to any Covered Shares, (iii) otherwise
permit any Liens to be created on any Covered Shares, (iv) subject to Section 5(a), knowingly take
any action that would make any representation or warranty of such Stockholder set forth in this
Agreement untrue or incorrect in any material respect or have the effect of preventing, disabling
or delaying such Stockholder from performing any of its obligations under this Agreement or (v)
agree (whether or not in writing) to take any of the actions referred to in the foregoing clauses
(i), (ii), (iii) and (iv) of this Section 1(c).

          (d) Waiver of Appraisal and Dissenters’ Rights. Each Stockholder hereby irrevocably
waives and agrees not to exercise or assert any rights of appraisal or similar rights under Section
262 of the DGCL or other applicable Law in connection with the Merger and the other transactions
contemplated by the Merger Agreement.

          (e) [Reserved]

          (f) Information for Proxy Statement; Publication.

               (i) Each Stockholder hereby authorizes Parent and Merger Sub to publish and disclose in the
Proxy Statement, Shareholder Circular and Prospectus and any other filing with any Governmental
Authority required to be made in connection with the Merger Agreement or the Share Exchange
Agreement its identity and ownership of Covered Shares and the nature of its commitments,
arrangements and understandings under this Agreement; provided, that in advance of any such
publication or disclosure, each Stockholder shall be afforded a reasonable opportunity to review
and comment on

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such disclosure (which comments shall be considered in good faith). Except as otherwise
required by applicable law or a Governmental Authority, neither Parent nor Merger Sub will make any
other disclosures regarding any Stockholder in any press release or otherwise without the prior
written approval of each Stockholder (not to be unreasonably withheld or delayed).

               (ii) No Stockholder shall issue or cause the publication of any press release or make any
other public announcement (to the extent not previously issued or made in accordance the Merger
Agreement or the Share Exchange Agreement) with respect to this Agreement, the Merger Agreement,
the Share Exchange Agreement or the transactions contemplated by the Merger Agreement or the Share
Exchange Agreement without the prior consent of Parent (which consent shall not be unreasonably
withheld or delayed), except as may be required by Law (including, without limitation, the
Hart-Scott-Rodino Antitrust Improvements Act of 1976 and Sections 13 and 16 of the Securities
Exchange Act of 1934) or by any applicable listing agreement with a national securities exchange as
determined in the good faith judgment of the Stockholder proposing to make such release (in which
case such Stockholder shall not issue or cause the publication or making of such press release or
other public announcement without prior consultation with Parent).

          (g) Notices of Certain Events. Each Stockholder shall promptly notify Parent and
Merger Sub of any development occurring after the date hereof that causes, or that would reasonably
be expected to cause, any of the representations and warranties of the Stockholders set forth in
this Agreement to no longer be true and correct.

     2. Representations and Warranties of Stockholders. Each Stockholder hereby, severally
and not jointly, represents and warrants to Parent and Merger Sub as follows:

          (a) Binding Agreement.

               (i) If such Stockholder is incorporated as a corporation, then such Stockholder has the
requisite corporate power and authority and full legal capacity to enter into, execute and deliver
this Agreement and to perform fully its obligations hereunder. If such Stockholder is organized as
a partnership, then such Stockholder has the requisite partnership power and authority and full
legal capacity to enter into, execute and deliver this Agreement and to perform fully its
obligations hereunder. If such Stockholder is organized as a limited liability company, then such
Stockholder has the requisite limited liability company power and authority and full legal capacity
to enter into, execute and deliver this Agreement and to perform fully its obligations hereunder.
If such Stockholder is organized as a trust, then such Stockholder has the requisite power and
authority and full legal capacity to enter into, execute and deliver this Agreement and to perform
fully its obligations hereunder. If such Stockholder is an individual, then such Stockholder has
the power and authority and full legal capacity to, and is competent to, enter into, execute and
deliver this Agreement and to perform fully his or her obligations hereunder.

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               (ii) The execution and delivery of this Agreement by such Stockholder and the performance by
such Stockholder of its obligations hereunder have been duly and validly authorized and approved by
such Stockholder. No other proceedings on the part of such Stockholder are necessary to authorize
the execution and delivery of this Agreement and the performance by such Stockholder of its
obligations hereunder. This Agreement has been duly executed and delivered by such Stockholder
and, assuming due authorization, execution and delivery hereof by Parent and Merger Sub,
constitutes a legal, valid and binding obligation of such Stockholder, enforceable against such
Stockholder in accordance with its terms, except that such enforceability (A) may be limited by
bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and other similar laws of
general application affecting or relating to the enforcement of creditors’ rights generally and (B)
is subject to general principles of equity, whether considered in a proceeding at law or in equity
(the “Bankruptcy and Equity Exception”).

          (b) Consents and Approvals; No Violations; Non-Contravention. Except for filings
under the Exchange Act or as set forth on Section 3.3 of the Stockholder Disclosure Schedule (as defined in the
Share Exchange Agreement), no consents or approvals of, or filings, declarations or registrations
with, any Governmental Authority are necessary for the performance by such Stockholder of its
obligations under this Agreement, other than such other consents, approvals, filings, declarations
or registrations that, if not obtained, made or given, would not, individually or in the aggregate,
reasonably be expected to prevent or materially delay the performance by such Stockholder of any of
its obligations under this Agreement. Neither the execution and delivery of this Agreement and
each other agreement contemplated to be executed and delivered herein by such Stockholder nor the
consummation by such Stockholder of its obligations under this Agreement, nor compliance by such
Stockholder with any of the terms or provisions hereof or thereof, will (i) violate or conflict
with any provision of the Organizational Documents of such Stockholder (if such Stockholder is not
natural person) or (ii) (A) violate in any material respect any Law, injunction, order, judgment,
ruling or decree of any Governmental Authority applicable to such Stockholder or (B) violate,
conflict with, constitute a default (or an event which, with notice or lapse of time, or both,
would constitute a default), or give rise to a right of termination or cancellation, an
acceleration of performance required, a loss of benefits, or the creation of any Lien upon such
Stockholder’s Covered Shares, under, any of the terms, conditions or provisions of any Contract or
Permit to which such Stockholder is a party, except, in the case of clause (ii), as set forth on
Section 3.2(b)(ii) of the Stockholder Disclosure Schedule and for such violations, conflicts, defaults, terminations, cancellations,
accelerations, losses and Liens as, individually and in the aggregate, would not reasonably be
expected to materially delay or impair such Stockholder’s ability to perform its obligations
hereunder. If such Stockholder is a married individual and such Stockholder’s Covered Shares
constitute community property or otherwise need spousal approval in order for this Agreement to be
a legal, valid and binding obligation of such Stockholder, this Agreement has been duly authorized,
executed and delivered by, and constitutes a legal, valid and binding obligation of, such
Stockholder’s spouse,

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enforceable against such spouse in accordance with its terms, subject to the Bankruptcy and
Equity Exception.

          (c) Ownership of Shares. Each Stockholder is the record and beneficial owner of, or
is a Trustee Party that is the record holder of and whose beneficiaries are the beneficial owners
of, the Shares set forth opposite such Stockholder’s name on Schedule I attached hereto free and
clear of any security interests, liens, charges, encumbrances, equities, claims, options or
limitations of whatever nature and free of any other limitation or restriction (including any proxy
and any restriction on the right to vote, sell or otherwise dispose of such Shares), except for any
such encumbrances arising hereunder or under the Share Exchange Agreement and except for such
transfer restrictions of general applicability as may be provided under the Securities Act and the
“blue sky” laws of the various states of the United States. Without limiting the foregoing, except
for any such encumbrances arising hereunder or under the Share Exchange Agreement and except for
such transfer restrictions of general applicability as may be provided under the Securities Act and
the “blue sky” laws of the various states of the United States, such Stockholder has sole voting
power and sole power of disposition with respect to all of its Covered Shares, with no restrictions
on such Stockholder’s rights of voting or disposition pertaining thereto and no Person other than
such Stockholder has any right to direct or approve the voting or disposition of any of its Covered
Shares. As of the date hereof, such Stockholder does not own, beneficially or of record, any
voting securities of the Company other than the number of Shares which constitute its Covered
Shares.

          (d) Brokers. Except for those fees and expenses to be paid by the Company and which
are disclosed in the Merger Agreement, no broker, investment banker, financial advisor or other
Person is entitled to any broker’s, finder’s, financial advisor’s or other similar fee or
commission, or the reimbursement of expenses, based upon arrangements made by or, with the
knowledge of such Stockholder, on behalf of such Stockholder in connection with its entering into
this Agreement.

     3. [Reserved]

     4. Termination. This Agreement shall terminate on the first to occur of (a) the
written agreement executed by the parties hereto to terminate this Agreement, (b) the termination
of the Merger Agreement in accordance with its terms, (c) the termination of the Share Exchange
Agreement in accordance with its terms and (d) the Effective Time. Notwithstanding the foregoing,
(i) nothing herein shall relieve any party from liability for breach of this Agreement and (ii) the
provisions of Section 2(c), Section 2(d), this Section 4 and Section 5 of this Agreement, and the
“Whereas” recitals in this Agreement, shall survive any termination of this Agreement.

     5. Miscellaneous.

          (a) Action in Stockholder Capacity Only. The parties acknowledge that this Agreement
is entered into by each Stockholder in its capacity as an owner of

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Covered Shares and that nothing in this Agreement shall in any way restrict or limit any
Stockholder from taking or authorizing any action or inaction in his or her capacity as a director,
officer, trustee or other fiduciary of the Company or any subsidiary thereof or of any employee
benefit plan of the Company, including, without limitation, participating in his or her capacity as
a director of the Company in any discussions or negotiations in accordance with Section 5.3 of the
Merger Agreement.

          (b) Trustee Liability. The following provisions shall apply to each of the parties to
this Agreement that are acting as trustees of a trust (a “Trustee Party”):

               (i) No Trustee Party shall have any personal liability or obligations of any kind under this
Agreement or any other document contemplated by the Merger Agreement to which such Trustee Party is
a party. Any and all personal liability of any Trustee Party for breaches by any Stockholder of
any obligations, covenants or agreements, either at common law or at equity, under any law or
otherwise, is hereby expressly waived by each of Parent and Merger Sub as a condition of and
consideration for the execution of this Agreement.

               (ii) By executing and delivering this Agreement or any other document contemplated by the
Merger Agreement, such Trustee Party is acting solely on behalf of, and each of this Agreement and
any other document contemplated by the Merger Agreement to which such Trustee Party is a party, is
solely an obligation of, and solely a claim against, the trust estate and assets of the trust
administered by such Trustee Party.

               (iii) Any claim or right to proceed against any Trustee Party individually, or the individual
property or assets of any Trustee Party, is hereby irrevocably waived and released. No recourse
under this Agreement or any other document contemplated by the Merger Agreement to which such
Trustee Party is a party shall be had against any Trustee Party or any of its assets, except to the
extent of the trust estate and assets of the trust administered by such Trustee Party from time to
time, by the enforcement of any assessment or by any legal or equitable proceedings seeking to
assert such recourse against the Trustee Party by virtue of any law or otherwise.

               (iv) Nothing in this Agreement or any other document contemplated by the Merger Agreement to
which such Trustee Party is a party shall prevent any Trustee Party from making any distribution
from, investment, reinvestment, purchase, sale or other disposition of, other transactions of any
kind involving, the trust estate and assets of the trust administered by such Trustee Party other
than the Covered Shares; provided, however, that Covered Shares may be distributed
or otherwise transferred (a “Permitted Transfer”) to a Person (each, a “Permitted Trust
Transferee”) who or which is (A) a trust beneficiary or a spouse, former spouse, grandparent,
parent, brother, sister or lineal descendent of a trust beneficiary or a Permitted Trust
Transferee, (B), upon the death of a trust beneficiary or a Permitted Trust Transferee, executors,
testamentary trustees, devisees or legatees of or heirs to the estate of such deceased person, (C)
any trust principally for the benefit of one or more of the trust beneficiaries

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and/or any Permitted Trust Transferee, (D) upon disability of any trust beneficiary or any
Permitted Trust Transferee, any guardian or conservator for such disabled person or (E) any
corporation, partnership or other entity if all the beneficial ownership of such entity is held by
the Trustee Party, the trust beneficiary and/or any Permitted Trust Transferee; provided, further,
that prior to the effectiveness of any Permitted Transfer, the applicable Permitted Trust
Transferee assumes and agrees to perform, becomes a party to, and becomes a “Stockholder” for all
purposes under this Agreement.

               (v) Each of Parent and Merger Sub hereby irrevocably agrees that, in furtherance of the
provisions of this Section, (i) it shall not institute against, or join any other Person in
instituting against, any Trustee Party individually, or the individual property or assets of any
Trustee Party, any bankruptcy, reorganization, insolvency or liquidation proceeding, or other
proceeding under any international, national, federal or state bankruptcy or similar law, in
connection with any claim relating to the Transaction; (ii) in the event of any reorganization
under the Bankruptcy Reform Act of 1978, as amended, of any Trustee Party, it will make the
election under Section 111(b)(2) of such Act; and (iii) if for any reason, whether or not related
to the Bankruptcy Reform Act of 1978, as amended, it shall recover from any Trustee Party
individual property or assets of such Trustee Party, it promptly shall return such asset or amount
recovered to such Trustee Party.

          (c) Expenses. Except as otherwise expressly provided in this Agreement and the Share
Exchange Agreement, all costs and expenses incurred in connection with the transactions
contemplated by this Agreement shall be paid by the party incurring such costs and expenses.

          (d) Additional Shares. Until any termination of this Agreement in accordance with its
terms, each Stockholder shall promptly notify Parent of the number of Shares, if any, as to which
such Stockholder acquires record or beneficial ownership after the date hereof. Any Shares as to
which such Stockholder acquires record and beneficial ownership (or acquires record ownership, if
such Stockholder is a trustee of a trust) after the date hereof and prior to termination of this
Agreement shall be Covered Shares for purposes of this Agreement. Without limiting the foregoing,
in the event of any stock split, stock dividend or other change in the capital structure of the
Company affecting the Company Common Stock, the number of Shares constituting Covered Shares shall
be adjusted appropriately and this Agreement and the obligations hereunder shall attach to any
additional shares of Company Common Stock, Company Preferred Stock or other voting securities of
the Company issued to Stockholder in connection therewith.

          (e) Definition of “Beneficial Ownership”. For purposes of this Agreement,
“beneficial ownership” with respect to (or to “beneficially own”) any securities
shall mean having “beneficial ownership” of such securities (as determined pursuant to Rule 13d-3
under the Exchange Act), including pursuant to any agreement, arrangement or understanding, whether
or not in writing.

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          (f) Further Assurances. From time to time, at the request of Parent and without
further consideration, each Stockholder shall execute and deliver such additional documents and
take all such further action as may be reasonably required to consummate and make effective, in the
most expeditious manner practicable, the transactions contemplated by this Agreement.

          (g) Entire Agreement; No Third Party Beneficiaries. This Agreement and the Share
Exchange Agreement constitutes the entire agreement, and supersedes all prior agreements and
understandings, both written and oral, among the parties, or any of them, with respect to the
subject matter hereof. This Agreement is not intended to and shall not confer upon any Person
other than the parties hereto any rights hereunder.

          (h) Assignment; Binding Effect. Neither this Agreement nor any of the rights,
interests or obligations hereunder shall be assigned by any of the parties hereto (whether by
operation of law or otherwise) without the prior written consent of the other parties, except that
Merger Sub may assign its rights and interests hereunder to Parent or to any wholly-owned
subsidiary of Parent if such assignment would not cause a delay in the consummation of any of the
transactions contemplated by the Merger Agreement, provided that no such assignment shall relieve
Merger Sub of its obligations hereunder if such assignee does not perform such obligations.
Subject to the preceding sentence, this Agreement shall be binding upon and shall inure to the
benefit of the parties hereto and their respective successors and permitted assigns. Any purported
assignment not permitted under this Section shall be null and void.

          (i) Amendments; Waiver. This Agreement may not be amended or supplemented, except by
a written agreement executed by the parties hereto. Any party to this Agreement may, subject to
Law, (i) waive any inaccuracies in the representations and warranties of any other party hereto,
(ii) extend the time for the performance of any of the obligations or acts of any other party
hereto, (iii) waive compliance by the other party with any of the agreements contained herein or
(iv) except as otherwise provided herein, waive any of such party’s conditions. No failure or
delay by Parent or Merger Sub in exercising any right hereunder shall operate as a waiver thereof
nor shall any single or partial exercise thereof preclude any other or further exercise thereof or
the exercise of any other right hereunder. Any agreement on the part of a party hereto to any such
extension or waiver shall be valid only if set forth in an instrument in writing signed on behalf
of such party.

          (j) Severability. If any term or other provision of this Agreement is determined by a
court of competent jurisdiction to be invalid, illegal or incapable of being enforced by any rule
of law or public policy, all other terms, provisions and conditions of this Agreement shall
nevertheless remain in full force and effect. Upon such determination that any term or other
provision is invalid, illegal or incapable of being enforced, the parties hereto shall negotiate in
good faith to modify this Agreement so as to effect the original intent of the parties as closely
as possible to the fullest extent permitted by Law in an acceptable manner to the end that the
transactions contemplated hereby are fulfilled to the extent possible.

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          (k) Counterparts. This Agreement may be executed in counterparts (each of which shall
be deemed to be an original but all of which taken together shall constitute one and the same
agreement) and shall become effective when one or more counterparts have been signed by each of the
parties and delivered to the other parties.

          (l) Descriptive Headings. Headings of Sections and subsections of this Agreement are
for convenience of the parties only, and shall be given no substantive or interpretive effect
whatsoever.

          (m) Notices. All notices, requests and other communications to any party hereunder
shall be in writing and shall be deemed given if delivered personally, telecopy faxed (which is
confirmed) or sent by overnight courier (providing proof of delivery) to the parties at the
following addresses:

if to Parent or Merger Sub, to:

Man Group plc

Sugar Quay

Lower Thames Street

London

EC3R 6DU

Fax: +44 207144 2001

Attention: Stephen Ross

                  Jasveer Singh

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

Weil, Gotshal & Manges LLP

767 Fifth Avenue

New York, New York 10153

Fax: (212) 310 8007

Attention: Jane McDonald

                 Danielle D. Do

if to a Stockholder, to the address on Schedule I

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

Allen & Overy LLP

1221 Avenue of the Americas

New York, New York 10020

Fax: (212) 610-6399

Attention: Eric Shube

or such other address or telecopy fax number as such party may hereafter specify by like notice to
the other parties hereto. All such notices, requests and other communications

9

 

shall be deemed received on the date of receipt by the recipient thereof if received prior to 5
p.m. in the place of receipt and such day is a Business Day in the place of receipt. Otherwise,
any such notice, request or communication shall be deemed not to have been received until the next
succeeding Business Day in the place of receipt.

          (n) Drafting. The parties hereto have participated jointly in the negotiation and
drafting of this Agreement and, in the event an ambiguity or question of intent or interpretation
arises, this Agreement shall be construed as jointly drafted by the parties hereto 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.

          (o) Governing Law; Enforcement; Jurisdiction; Waiver of Jury Trial.

               (i) This Agreement, all claims or causes of action (whether at Law, in contract, in tort or
otherwise) that may be based upon, arise out of or relate to this Agreement or the negotiation,
execution, termination, performance or nonperformance of this Agreement, shall be governed by and
construed in accordance with the Laws of the State of Delaware, without regard to any choice or
conflicts of Law principles (whether of the State of Delaware or any other jurisdiction) that would
cause the application of the Laws of any jurisdiction other than the State of Delaware.

               (ii) All actions and proceedings arising out of or relating to this Agreement shall be heard
and determined in the Chancery Court of the State of Delaware and any state appellate court
therefrom within the State of Delaware (or, if the Chancery Court of the State of Delaware declines
to accept jurisdiction over a particular matter, any state or federal court within the State of
Delaware), and the parties hereto hereby irrevocably submit to the exclusive jurisdiction of such
courts (the “Agreed Courts”) in any such action or proceeding and irrevocably waive the
defense of an inconvenient forum to the maintenance of any such action or proceeding. Without
limiting other means of service of process permissible under applicable Law, each of the parties
hereto agrees that service of any process, summons, notice or document by U.S. registered mail to
the respective addresses set forth in Section 5(m) shall be effective service of process for any
suit or proceeding in connection with this Agreement. The consents to jurisdiction set forth in
this paragraph shall not constitute general consents to service of process in the State of Delaware
and shall have no effect for any purpose except as provided in this paragraph and shall not be
deemed to confer rights on any Person other than the parties hereto. The parties hereto agree that
a final judgment in any such action or proceeding shall be conclusive and may be enforced in other
jurisdictions by suit on the judgment or in any other manner provided by Law.

               (iii) Each of the parties hereto irrevocably waives any and all right to trial by jury in any
legal proceeding between the parties hereto arising out of relating to this Agreement of the
transactions contemplated hereby.

               (iv) The parties agree that irreparable damage would occur and that the parties would not have
any adequate remedy at law in the event that any of the

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provisions of this Agreement were not performed in accordance with their specific terms or
were otherwise breached. It is accordingly agreed that the parties shall be entitled to an
injunction or injunctions to prevent breaches of this Agreement and to enforce specifically the
terms and provisions of this Agreement in any Agreed Court, without proof of actual damages (and
each party hereby waives any requirement for the securing or posting of any bond or other security
in connection therewith); specific performance being in addition to any other remedy to which the
parties are entitled at law or in equity.

[signature page follows]

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     IN WITNESS WHEREOF, the parties have caused this Agreement to be duly executed as of the date
first above written.

	 	 	 	 	 
	 	MAN GROUP PLC

 	 
	 	By:  	/s/ Stephen
Ross	 
	 	 	Name:  	Stephen Ross	 
	 	 	Title:  	General Counsel	 
	 
	 	ESCALATOR SUB 1 INC.

 	 
	 	By:  	/s/ John
B. Rowsell	 
	 	 	Name:  	John B. Rowsell	 
	 	 	Title:  	President	 
	 
	 	Stockholders:

 	 
	 	/s/ Noam Gottesman
	 
	 	Noam Gottesman 	 
	 	 	 
	 	/s/ Perre Lagrange
	 
	 	Pierre Lagrange 	 
	 	 	 
	 	/s/ Emmanuel Roman
	 
	 	Emmanuel Roman 	 
	 	 	 
	 	/s/ Leslie J. Schreyer
	 
	 	Leslie J. Schreyer, in his capacity as trustee of the

Gottesman GLG Trust

 	 
	 	/s/ Jeffrey A. Robins
	 
	 	Jeffrey A. Robins, in his capacity as trustee of the

Roman GLG Trust

 	 

	 
	 	JACKSON HOLDING SERVICES INC.
 	 
	 
	 	By:  	/s/ Jeffrey A. Robins
	 
	 	 	Name:  	Jeffrey A. Robins 	 
	 	 	Title:  	Director

 

 

	 	 	 	 	 
	 	G&S TRUSTEES LIMITED, in its
capacity as
trustee of the LAGRANGE GLG TRUST

 	 
	 	By:  	/s/ Nigel Bentley
	 
	 	 	Name:  	Nigel Bentley 	 
	 	 	Title:  	Director 	 
	 
	 	POINT PLEASANT VENTURES LTD.

 	 
	 	By:  	/s/ Nigel Bentley
	 
	 	 	Name:  	Nigel Bentley 	 
	 	 	Title:  	Director 	 
	 
	 	LAVENDER HEIGHTS CAPITAL LP

By: Mount Garnet Limited, its general partner

 	 
	 	By:  	/s/ Leslie Schreyer
	 
	 	 	Name:  	Leslie J. Schreyer 	 
	 	 	Title:  	Director 	 
	 
	 	SAGE SUMMIT LP

By: Sage Summit Ltd., its general partner

 	 
	 	By:  	/s/ Leslie J. Schreyer

 	 
	 	 	Name:  	Leslie J. Schreyer 	 
	 	 	Title:  	Director 	 
	 
	 	TOMS INTERNATIONAL LTD.

 	 
	 	By:  	/s/ Jeffrey A. Robins
	 
	 	 	Name:  	Jeffrey A. Robins 	 
	 	 	Title:  	Vice President and Assistant Secretary 	 
	 

 

 

SCHEDULE I

Stockholders Participating in Voting and Support Agreement

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	Company
	 	 	 	 	 	 	 	 	 	 	Common Stock
	 	 	 	 	 	 	 	 	 	 	issuable upon
	 	 	Company	 	 	 	 	 	conversion of
	 	 	Common	 	Company	 	Convertible
	Name	 	Stock	 	Preferred Stock	 	Notes
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Noam Gottesman
	 	 	1,309,664	 	 	 	4,623	 	 	 	 	 
	Pierre Lagrange
	 	 	4,623	 	 	 	 	 	 	 	 	 
	Emmanuel Roman
	 	 	350,162	 	 	 	 	 	 	 	 	 
	Gottesman GLG Trust
	 	 	 	 	 	 	58,900,370	 	 	 	 	 
	Jackson Holding Services Inc.
	 	 	17,988,050	 	 	 	 	 	 	 	1,344,086	 
	Roman GLG Trust1
	 	 	 	 	 	 	 	 	 	 	 	 
	Point Pleasant Ventures Ltd.
	 	 	58,900,370	 	 	 	 	 	 	 	4,032,258	 
	Lagrange GLG Trust2
	 	 	 	 	 	 	 	 	 	 	 	 
	Lavender Heights Capital LP
	 	 	5,640,570	 	 	 	 	 	 	 	 	 
	Sage Summit LP
	 	 	8,460,854	 	 	 	 	 	 	 	 	 
	TOMS International Ltd.
	 	 	 	 	 	 	 	 	 	 	2,688,172	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Total
	 	 	92,654,293	 	 	 	58,904,993	 	 	 	8,064,516	 

 

			
	1	 	Stockholder owns its interests through
Jackson Holding Services Inc.
	 
	2	 	Stockholder owns its interests through Point
Pleasant Ventures Ltd.exv10w2

Exhibit 10.2

SECOND AMENDED AND RESTATED EMPLOYMENT AGREEMENT

This Second Amended and Restated Employment Agreement between GLG Partners, Inc. (“GLG”) and
Jeffrey M. Rojek (the “Employee”) is made on this 16th day of May, 2010 (this or the “Agreement”).

GLG and the Employee hereby agree to the continued employment of the Employee by GLG on the
following terms and conditions:

	1.	 	Commencement of Employment; Term of Agreement.
	 
	1.1	 	The Employee’s employment under this Agreement commenced on January 1, 2010.
	 
	1.2	 	The initial term of the Employee’s employment under this Agreement shall continue until
December 31, 2010, unless such employment is sooner terminated pursuant to the provisions of
this Agreement (the “Initial Term”). Upon the expiration of the Initial Term and any one-year
extension thereafter, the Initial Term or the extended term, as applicable, shall be
automatically extended for one additional year unless either party hereto gives the other
party at least six (6) months of advance written notice that he or it does not want such
extension to occur (a “Notice of Non-Extension”), in which case the Initial Term or the
extended term, as applicable, will not be further extended. Notwithstanding any extensions
beyond the Initial Term, the Employee’s employment may be sooner terminated pursuant to the
provisions of this Agreement. Hereinafter, the period of the Employee’s employment under this
Agreement, including beyond the Initial Term if applicable, will be referred to as the “Term.”
	 
	2.	 	Title; Duties; Responsibilities.
	 
	2.1	 	The Employee shall, during the Term, serve GLG in the capacity of Chief Financial Officer,
and shall report to the Co-Chief Executive Officers of GLG (or, if there is only one Chief
Executive Officer of GLG, then to that individual) and to the Board of Directors of GLG (the
“Board”). The Employee’s duties shall include, but not be limited to, those typical of the
chief financial officer of a United States publicly-traded financial services company, and
such other duties as may be required by GLG from time to time consistent therewith, or where
not, by agreement between the parties hereto.
	 
	2.2	 	During the Term, the Employee shall:

	 	(a)	 	at all times and in all respects conform to and comply with the lawful and
reasonable directions of GLG, and, to the extent applicable to the Employee, conform to
and comply with all rules or codes of conduct and statements of principle in force from
time to time or required by any regulatory body in relation to the business of GLG or
any of its subsidiaries (collectively, the “GLG Entities”);

 

 

	 	(b)	 	unless prevented by sickness or other incapacity, or otherwise as directed by
GLG, devote the whole of his time, attention, and abilities during hours of work (which
shall be normal business hours and such additional hours as may be necessary for the
proper performance of his duties) to the business and affairs of the GLG Entities;
	 
	 	(c)	 	work at GLG’s offices in New York, New York or such other place of business of
GLG in the New York City greater metropolitan area as GLG may reasonably require for the
proper performance of the Employee’s duties; provided that the Employee shall be
required to travel from time to time on reasonable notice for reasonable periods of time
for business purposes; and
	 
	 	(d)	 	not, without the prior written consent of GLG, directly or indirectly carry on
or be engaged, concerned, or interested in any other business, trade, or occupation that
is in competition with the business of any GLG Entity, other than as a holder directly
or through nominees of not more than three percent (3%) in the aggregate of any class of
            shares, debentures, or other securities in issue from time to time of any company that
is publicly-traded on any recognized stock exchange.

	2.3	 	The Employee shall not, without the prior written consent of GLG, either directly or
indirectly, publish any opinion, fact, or material, or deliver any lecture or address, or
participate in the making of any film, radio broadcast, or television transmission, or
communicate with any representative of the media or any third party, (a) relating to the
business or affairs of the GLG Entities, or relating to any of their officers, employees,
members, partners, clients, suppliers, distributors, agents, or shareholders, or (b) relating
to the development or exploitation of Intellectual Property (as defined in clause 10.1). For
the purpose of this clause 2.3, “media” shall include television (terrestrial, satellite, and
cable), internet, radio, newspapers, and other journalistic publications. This clause 2.3
will not apply to communications made by the Employee to the media or other third-parties to
the extent that such communications are consistent with the Employee’s duties to GLG.
	 
	3.	 	Salary.
	 
	3.1	 	During the Term, GLG will pay the Employee a salary at a rate equal to a gross amount of
$400,000 per annum, from which tax and other withholdings will be deducted. This amount will
be paid to the Employee in equal monthly installments.
	 
	4.	 	Bonus.
	 
	4.1	 	The Employee will, during the Term, be eligible for a discretionary bonus, payable, if at
all, by GLG on an annual basis, from which tax and other withholdings will be deducted.
Bonuses are based on numerous factors, including the performance of the GLG Entities

2

 

	 	 	and the Employee’s individual contribution, and, except as otherwise set forth in this clause
4, are not guaranteed.
	 
	4.2	 	Notwithstanding anything to the contrary in clause 4.1, during the Term, for each calendar
year in which the Employee is employed by GLG for the full calendar year, GLG will pay the
Employee a cash bonus of no less than $600,000, from which tax and other withholdings will be
deducted. Notwithstanding the prior sentence, the Employee will be entitled to receive all or
a portion of such bonus in the event his employment with GLG is terminated under certain
circumstances before the end of a calendar year, as set forth in clause 8.
	 
	4.3	 	In order to be eligible to receive any bonus under clauses 4.1 and 4.2, except as otherwise
provided in clause 8, the Employee must be actively employed by GLG and not serving out any
period of notice (such as the notice period given prior to termination) on the date that such
bonus is to be paid to the Employee. Any bonus under clauses 4.1 and 4.2 will be paid to the
Employee no later than December 31 of the calendar year in which it is earned.
	 
	5.	 	Equity Incentive Awards.
	 
	5.1	 	The Employee shall receive such equity incentive awards as the Compensation Committee of the
Board (the “Compensation Committee”) may determine in its sole discretion from time to time.
Such equity incentive awards may include, without limitation, grants of stock options, stock
appreciation rights, restricted stock, and/or restricted stock units. The terms and
conditions of each equity incentive award will be set forth in a definitive award agreement to
be entered into by the parties hereto.
	 
	5.2	 	Notwithstanding anything in this clause 5 to the contrary, the Employee will only receive an
equity incentive award if, at the time the award is granted, he is actively employed by GLG
and not serving out any period of notice (such as the notice period given prior to
termination).
	 
	6.	 	Expenses.
	 
	6.1	 	GLG shall reimburse the Employee in respect of all reasonable travelling, accommodation, and
other similar out-of-pocket expenses wholly, exclusively, and necessarily incurred by the
Employee in or about the performance of his duties, provided that any expense claims are
supported by relevant documentation and are made in accordance with GLG’s expenses policy from
time to time in force.
	 
	7.	 	Benefits and Vacation.
	 
	7.1	 	During the Term, and provided that the Employee satisfies, and continues to satisfy, any plan
eligibility requirements, the Employee shall be entitled to participate in, and receive

3

 

	 	 	benefits under, any pension benefit plan, welfare
benefit plan (including, without limitation, health
insurance), vacation benefit plan, or other
employee benefit plan made available by GLG to its
senior employees based in its New York City
offices. In addition, during the Term, the
Employee will be provided with fringe benefits to
the same extent that such benefits are provided by
GLG to its senior management employees. Any such
plan or benefit arrangement may be amended,
modified, or terminated by GLG from time to time
with or without notice to the Employee.
	 
	8.	 	Termination of Employment.
	 
	8.1	 	By the Employee. The Employee may terminate his employment with GLG for any reason
by giving to GLG not less than twelve weeks of notice in writing (except that the Employee
need not comply with the notice obligation under this clause 8.1 to the extent he is
terminating his employment with Good Reason (as defined in Exhibit A) in accordance with
clause 8.5 and Exhibit A). In the event that the Employee terminates his employment under
this clause 8.1 without giving GLG the requisite notice under this clause 8.1, then, in
addition to any other remedy that GLG may have with respect to the Employee for breach of this
Agreement, the “Restriction Period” under clause 12.1.6 will be extended for the number of
days that is equal to the number of days by which the Employee’s notice under this clause 8.1
is deficient (i.e., if the Employee provides GLG with eight weeks of notice of termination,
then the “Restriction Period” will be extended by four weeks).
	 
	8.2	 	By GLG Without Cause. GLG may terminate the Employee’s employment without Cause (as
defined in Exhibit B) by giving to the Employee not less than six months of notice in writing,
except as otherwise provided in clause 8.5. The delivery of a Notice of Non-Extension under
clause 1.2 by GLG to the Employee will be treated as a termination without Cause by GLG.
	 
	 	 	In the event of a termination of the Employee’s employment by GLG without Cause, GLG will
pay to the Employee, subject to clauses 8.5 and 8.9, on the thirtieth (30th) day following
his employment termination date, a payment in an amount equal to:

	 	(a)	 	the Employee’s annual bonus under clause 4.2 and any discretionary bonus under
clause 4.1 awarded to the Employee for the year preceding the year in which the
termination without Cause is effective, but only to the extent that such bonuses for
such preceding year have not been paid, plus
	 
	 	(b)	 	a pro-rata portion of the Employee’s annual bonus under clause 4.2 for the year
in which the termination without Cause is effective (such pro-rata portion to be
calculated on a straight line basis from the beginning of the year through the date on
which the Employee’s employment is terminated without Cause), plus
	 
	 	(c)	 	fifty percent (50%) of the Employee’s annual salary under clause 3.1, plus

4

 

	 	(d)	 	fifty percent (50%) of the annual bonus payable to the Employee under clause 4.2.
	 
	 	(e)	 	In addition, in such event, to the extent permitted under the terms of the
applicable plan, GLG will provide two years of continued coverage for the Employee and
his covered spouse and dependents under GLG’s health insurance plan (medical and dental)
under the same terms and conditions that are applicable to senior employees of GLG then
employed in New York City, provided that (i) to the extent any such benefit is provided
via reimbursement to the Employee, no such reimbursement will be made by GLG later than
the end of the year following the year in which the underlying expense is incurred,
(ii) any such benefit provided by GLG in any year will not be affected by the amount of
any such benefit provided by GLG in any other year, subject to any maximum benefit
limitations under the applicable plan’s terms, and (iii) under no circumstances will the
Employee be permitted to liquidate or exchange any such benefit for cash or any other
benefit.

	 	 	Alternatively, in lieu of advance notice, GLG may, in its absolute discretion, terminate the
employment of the Employee without Cause with immediate effect by paying the Employee,
subject to clauses 8.5 and 8.9, in a lump sum on the thirtieth (30th) day following his
employment termination date, the amounts set forth in clauses (a), (b), (c), and (d) of the
preceding paragraph, except that the references to “fifty percent (50%)” in clauses (c) and
(d) will be replaced with references to “one hundred percent (100%)”.
	 
	 	 	At all times while the Employee is receiving payments under this clause 8.2 (or would be
receiving payments but for clause 8.9), the Employee shall have a duty to mitigate the amount
of such payments that GLG is obligated to pay to the Employee by making a good faith effort
to obtain alternative employment (or paid work as a partner, consultant, or otherwise). Any
compensation that the Employee earns during such time period as a result of other employment
or work as a partner, consultant, or otherwise shall offset, on a dollar-for-dollar basis,
the amount of such payments that GLG otherwise would be obligated to pay to the Employee
under this Agreement. The Employee shall have an affirmative duty to promptly notify GLG of
any employment or other paid work that he obtains (and in any event no later than seven days
after obtaining such employment or other paid work) while receiving payments under this
clause 8.2. The failure of the Employee to make a good faith effort to obtain such
employment or other paid work will be grounds for GLG to refuse to make any further payments
under this clause 8.2 and to recoup any payments under this clause 8.2 that it has already
made to the Employee.
	 
	8.3	 	By GLG With Cause. The Employee’s employment may be terminated by GLG with Cause in
accordance with this clause 8.3 and Exhibit B.

5

 

	8.4	 	Death and Disability.

		 	(a) The Employee’s employment will automatically terminate upon his death. Further, GLG
reserves the right to terminate the Employee’s employment at any time during which the
Employee has a “Disability.”
	 
	 	 	For purposes of this Agreement, a “Disability” means a physical or mental impairment that
prevents the Employee from performing the essential duties of his position, with or without
reasonable accommodation, for (i) a period of sixty (60) consecutive calendar days, or
(ii) an aggregate of ninety (90) work days in any six (6) month period. A determination that
the Employee has incurred a Disability will be made by GLG, in its sole discretion, but in
consultation with a physician selected by GLG and who works in the New York City greater
metropolitan area, provided that such selected physician consults with the Employee’s
physician in addition to any examination of the Employee and/or other tests on the Employee
that such selected physician performs or orders to be performed, and the Employee hereby
agrees to submit to any such examinations and/or other tests from time to time.
Notwithstanding the foregoing, any termination of employment due to a “Disability” will be
made in accordance with applicable federal, state, and local laws.
	 
		 	(b) In the event of a termination of the Employee’s employment due to death or Disability,
GLG will pay the Employee or his estate, as applicable, his salary under clause 3.1 through
the employment termination date. In such case, GLG will also pay to the Employee or his
estate, as applicable, subject to clause 8.9 in the event of a termination of the Employee’s
employment due to Disability, in a lump sum on the thirtieth (30th) day following his
employment termination date, the amounts set forth in clauses (a) and (b) of clause 8.2.
	 
		 	(c) Notwithstanding the foregoing, in the event that the Employee’s employment with GLG is
terminated due to his death or by GLG due to Disability, in either case during the one-year
period ending on, and including, the first anniversary of a Change of Control (or if such
first anniversary date is not a business day in either London, England or New York, New York,
then the first such business day following such first anniversary date), the Employee (or his
estate, as applicable), in lieu of any payments under clause 8.4(b), shall be entitled to
receive the payments and benefits under Section 8.5.
	 
		 	(d) In the event that the Employee’s employment with GLG is terminated due to his death or by
GLG due to Disability, in either case during the pendency of a Potential Change of Control
and a Change of Control then occurs before the expiration of the pendency of that Potential
Change of Control, the Employee (or his estate, as applicable) shall be entitled to such
additional payments, health insurance benefits (for his covered spouse and dependents), and
vesting of equity incentive awards as would have been made or provided under clause 8.5, as
if the Employee’s employment was terminated thereunder with Good Reason immediately following
the occurrence of a Change of

6

 

	 	 	Control, in excess of the amount of the payments made or to be made to the Employee (or his
estate) under clause 8.4(b), but only if the Change of Control satisfies the definition of
“change in control event” set forth in Final Treasury Regulation § 1.409A-3(i)(5). Any such
additional payments will be made upon the later of (I) the thirtieth (30th) day following the
Employee’s employment termination date and (II) the date on which the Change of Control
occurs, and in either case subject to clause 8.11 except in the event of the Employee’s
death, and any such health insurance benefits will be provided, to the extent permitted under
the terms of the applicable plan, through the second anniversary of the Employee’s employment
termination date, and any such vesting of equity incentive awards will be effective as of the
date on which the Change of Control occurs.
	 
	8.5	 	Following a Change of Control or During the Pendency of a Potential Change of
Control.
	 
	 	 	In the event that (1) the Employee’s employment with GLG is terminated by GLG without Cause
or by the Employee with Good Reason, in either case following a Change of Control (as
defined in Exhibit C) or during the pendency of a Potential Change of Control (as defined in
Exhibit D), or (2) the Employee’s employment with GLG is terminated due to his death or by
GLG due to Disability, in either case during the one-year period ending on, and including,
the first anniversary of a Change of Control (or if such first anniversary date is not a
business day in either London, England or New York, New York, then the first such business
day following such first anniversary date), then, in lieu of any payments or benefits under
clauses 8.2 or 8.4(b), and without GLG being required to provide advance notice under clause
8.2 in the event of a termination without Cause, the Employee shall be entitled to receive
payment of the following amounts and benefits, subject to clause 8.9:

	 	(a)	 	on the thirtieth (30th) day following his employment termination date, payment of
the Employee’s annual bonus under clause 4.2 and any discretionary bonus under clause
4.1 awarded to the Employee for the year preceding the year in which the Employee’s
employment is terminated, but only to the extent that such bonus for such preceding year
has not been paid;
	 
	 	(b)	 	on the thirtieth (30th) day following his employment termination date, payment of
a pro-rata portion of the Employee’s annual bonus under clause 4.2 for the year in which
his employment terminates (calculated on a straight-line basis from the beginning of the
year through the employment termination date) and, in GLG’s discretion, a discretionary
bonus under clause 4.1 for the year in which his employment terminates, and in
exercising such discretion, GLG may, but is not required to, take into account any
amount that has been accrued on the management accounts of GLG for such a discretionary
bonus for the year in which his employment terminates;

7

 

	 	(c)	 	on the thirtieth (30th) day following his employment termination date, a payment
equal to the lesser of (i) two times the Employee’s Annual Compensation (as defined
below) and (ii) $3 million;
	 
	 	(d)	 	to the extent permitted under the terms of the applicable plan, two years of
continued coverage for the Employee and his covered spouse and dependents under GLG’s
health insurance plan (medical and dental) under the same terms and conditions that are
applicable to senior employees of GLG then employed in New York City, provided that (i)
to the extent any such benefit is provided via reimbursement to the Employee, no such
reimbursement will be made by GLG later than the end of the year following the year in
which the underlying expense is incurred, (ii) any such benefit provided by GLG in any
year will not be affected by the amount of any such benefit provided by GLG in any other
year, subject to any maximum benefit limitations under the applicable plan’s terms, and
(iii) under no circumstances will the Employee be permitted to liquidate or exchange any
such benefit for cash or any other benefit; and
	 
	 	(e)	 	immediate vesting of any outstanding equity incentive awards made to the Employee
under clause 5 or under any prior employment agreement between the Employee and GLG, and
specifically including the restricted stock agreements listed in clause 14.1.

	 	 	For purposes of clause 8.5(c), “Annual Compensation” shall mean the average of the Employee’s
total compensation for 2008 and 2009, as such total compensation is set forth in the “Total”
column of the Summary Compensation Table contained in GLG’s Proxy Statement for the 2010
Annual Meeting of Shareholders, as filed with the United States Securities and Exchange
Commission.
	 
	8.6	 	Additional Payments

	 	8.6.1	 	Payments under this Agreement or any other arrangement of GLG covering the
Employee (including, without limitation, vesting of awards under GLG’s equity incentive
plans) shall be made without regard to whether the deductibility of such payments (or
any other “parachute payments,” as that term is defined in Section 280G of the Internal
Revenue Code (“Section 280G”), to or for the benefit of the Employee) would be limited
or precluded by Section 280G and without regard to whether such payments (or any other
parachute payments) would subject the Employee to the federal excise tax levied on
certain “excess parachute payments” under Section 4999 of the Internal Revenue Code (the
“Excise Tax”).
	 
	 	8.6.2	 	The Employee shall be entitled to receive a payment (the “Gross-Up Payment”)
which shall be an amount equal to the sum of (a) the Excise Tax imposed on any parachute
payment, whether or not such parachute payment is payable under this

8

 

	 	 	 	Agreement, and (b) the amount necessary to pay all additional taxes imposed on (or
economically borne by) the Employee (including the Excise Tax, federal, state, local,
and foreign income and employment taxes, and all applicable withholding taxes) and
reimburse the Employee for expenses due to a tax audit or litigation, in each case
attributable to the receipt of “parachute payments” and the Gross-Up Payment.
	 
	 	8.6.3	 	The initial determination of the Gross-Up Payment shall be made at GLG’s expense
by GLG’s independent auditors or by such other certified public accounting firm as the
Board may designate prior to a Change of Control (the “Accountants”) and a copy of such
initial determination (and any underlying calculations) will be provided to the Employee
forthwith upon the completion of such initial determination; provided that, prior to
completing such initial determination, the Employee will be provided with a written
draft of such determination (which he may share with his legal and tax advisors) and a
period of thirty (30) days during which the Employee (and his advisors) may submit
comments to the Accountants regarding such draft determination.
	 
	 	8.6.4	 	The Gross-Up Payment shall be made to the Employee, subject to clause 8.9, at
the same time the amounts under clause 8.5 are paid to the Employee, or, if later,
within five (5) business days following the initial determination by the Accountants
that the Gross-Up Payment is due.
	 
	 	8.6.5	 	In the event that the Excise Tax is subsequently determined by the Accountants or
the Internal Revenue Service to be less than the amount taken into account hereunder at
the time the Gross-Up Payment is made, the Employee shall repay to GLG, at the time that
the amount of such reduction in the Excise Tax is finally determined, the portion of the
Gross-Up Payment attributable to such reduction (plus the portion of the Gross-Up Payment
attributable to the Excise Tax and federal, state, and local income and employment tax
imposed on the portion of the Gross-Up Payment being repaid by the Employee if such
repayment results in a reduction in the Excise Tax or a federal, state, and local income
or employment tax deduction). Notwithstanding the foregoing, in the event that any
portion of the Gross-Up Payment to be refunded to GLG has been paid to any federal,
state, local, or foreign tax authority, repayment thereof (and related amounts) shall not
be required until actual refund or credit of such portion has been made to the Employee,
and interest payable to GLG shall not exceed the interest received or credited to the
Employee by such tax authority for the period it held such portion, provided that the
Employee’s obligation to repay shall be net of any federal, state, local, or foreign
income or employment taxes imposed on the Employee on receipt of such refund or credit.
The Employee and GLG shall cooperate in good faith in determining the course of action to
be pursued (and the method of allocating the

9

 

	 	 	 	expense thereof) if the Employee’s claim for a refund or credit is denied. However, if
agreement cannot be reached, GLG shall decide the appropriate course of action to
pursue, provided that the action does not adversely impact any issues the Employee may
have with respect to his tax return, other than the Excise Tax.
	 
	 	8.6.6	 	In the event that the Excise Tax is subsequently determined by the Accountants or
the Internal Revenue Service to exceed the amount taken into account hereunder at the
time the Gross-Up Payment is made (including by reason of any payment the existence or
amount of which cannot be determined at the time of the Gross-Up Payment), GLG shall make
an additional Gross-Up Payment to or for the benefit of the Employee in respect of such
excess at the time that the amount of such excess is finally determined.
	 
	 	8.6.7	 	In the event of any controversy with the Internal Revenue Service (or other taxing
authority) with regard to the Excise Tax, the Employee shall permit GLG to control issues
related to the Excise Tax (at GLG’s expense), provided that such issues do not
potentially materially adversely affect the Employee. In the event issues are
interrelated, the Employee and GLG shall in good faith cooperate so as not to jeopardize
resolution of either issue. In the event of any conference with any taxing authority as
to the Excise Tax or associated income taxes, the Employee shall permit the
representative of GLG to accompany the Employee, and the Employee and the Employee’s
representative shall cooperate with GLG and its representative.
	 
	 	8.6.8	 	GLG and the Employee shall promptly deliver to each other copies of any written
communications, and summaries of any verbal communications, with any taxing authority
regarding the Excise Tax.
	 
	 	8.6.9	 	Notwithstanding anything in this clause 8.6 to the contrary, to satisfy the
express requirements under Section 409A of the Internal Revenue Code (“Section 409A”),
and without in any way limiting the obligation of GLG to make payments in accordance
with the prior paragraphs of this clause 8.6, the parties hereto agree that (I) in no
event will any Gross-Up Payment or any underpayment be made to the Employee later than
the end of the calendar year immediately following the calendar year in which the
Employee remits the related taxes to the applicable government authority, and (II) in no
event will the reimbursement of expenses incurred due to a tax audit or litigation
addressing the existence or amount of a tax liability be made to the Employee later than
the end of the calendar year immediately following the calendar year in which the taxes
that are the subject of the audit or litigation are remitted to the applicable
government authority or, where as a result of such audit or litigation no taxes are
remitted, the end of the calendar year immediately following the calendar year in which
the audit is completed or there is a final and non-appealable settlement or other
resolution of the litigation.

10

 

	8.7	 	GLG is not under any obligation to provide the Employee with any work, and GLG may suspend
the Employee or place him on a leave of absence without duties, exclude the Employee from all
or any premises of GLG, and/or require that the Employee not contact any colleagues or
clients, not work on any GLG matters or projects, and not access electronic data in GLG’s
offices via home computers, modems, or otherwise, including, without limitation:

	 	8.7.1	 	for any period in connection with any investigation into (a) any alleged
misconduct or neglect by the Employee or (b) any alleged action or inaction that may
constitute Cause under Exhibit B; or
	 
	 	8.7.2	 	for any period not exceeding the applicable notice period after either party
has given notice of termination of employment;

	 	 	provided that throughout such period the Employee’s salary under clause 3.1 and benefits
under clause 7.1 shall continue to be paid or provided by GLG in accordance with those
clauses, and further provided that any amount payable to the Employee in respect of clause
8.7.2 will be paid to the Employee pursuant to the terms of this Agreement, but no later than
March 15 of the calendar year following the calendar year in which the Employee ceases to
perform services for GLG unless such amount is subject to clause 8.9 or such amount would be
exempt from the requirements of Section 409A even if such amount were not paid to the
Employee by such March 15 date. The Employee acknowledges and agrees that, during any period
of suspension, all obligations and duties of the Employee contained in this Agreement (other
than those suspended as set out in this clause 8.7) will continue to have full force and
effect. Notwithstanding anything in this clause 8.7 to the contrary, and consistent with
clause 14.9, any suspension or leave of absence of the Employee will cease and the Employee’s
employment will be terminated at the time he incurs a “separation from service” (as defined
under Section 409A).
	 
	8.8	 	GLG reserves the right to condition any compensation under this clause 8 upon the Employee’s
execution of a customary general release (which general release will exclude from its terms,
and will not waive or release, any continuing obligations that GLG has to the Employee under
this Agreement or under any restricted stock agreement between GLG and the Employee and any
right the Employee has immediately prior to the employment termination date to be indemnified
by any GLG Entity or any predecessor of any GLG Entity) and such general release becoming
effective, which execution and effectiveness must occur before the thirtieth (30th) day
following the Employee’s employment termination date (or, to the extent clause 8.9 operates to
delay payment of the compensation at issue, before the date that such compensation is to be
paid to the Employee under clause 8.9). GLG will provide any such general release to the
Employee before, on, or promptly following the employment termination date.

11

 

	8.9	 	To the extent that any amount payable or benefit to be provided under this Agreement
constitutes an amount payable or benefit to be provided under a “nonqualified deferred
compensation plan” (as defined in Section 409A) that is not exempt from Section 409A, and such
amount or benefit is payable or to be provided as a result of a “separation from service” (as
defined in Section 409A), including any amount payable or benefit to be provided under this
clause 8, and the Employee is a “specified employee” (as defined and determined under Section
409A and any relevant procedures that GLG may establish) at the time of his “separation from
service,” then, notwithstanding any other provision in this Agreement to the contrary, such
payment or benefit will not be made or provided to the Employee until the day after the date
that is six (6) months following the Employee’s “separation from service,” at which time all
payments or benefits that otherwise would have been paid or provided to the Employee under
this Agreement during that six-month period, but were not paid or provided because of this
clause 8.9, will be paid or provided, with any cash payment to be made in a single lump sum.
This six-month delay will cease to be applicable after the Employee’s death.
	 
	8.10	 	Upon the termination of his employment (for whatever reason and howsoever arising), the
Employee shall not at any time thereafter make any untrue or misleading oral or written
statement concerning the business and affairs of any GLG Entity, nor represent himself or
permit himself to be held out as being in any way connected with or interested in the business
of any GLG Entity (except as a former employee for the purpose of communicating with
prospective employers or complying with any applicable law, or as a holder of any outstanding
equity award granted to the Employee).
	 
	9.	 	Confidential Information.
	 
	9.1	 	“Confidential Information” means any information that belongs to any GLG Entity, or any of
their clients or suppliers, including, without limitation, Intellectual Property (as defined
in clause 10.1), technical data, market data, trade secrets, research, business plans, product
information, projects, services, client lists, client preferences, client transactions,
supplier lists, supplier rates, hardware, technology, inventions, developments, processes,
formulas, designs, marketing methods and strategies, pricing strategies, sales methods,
financial information, transactional information, corporate and tax structures, revenue
figures, account information, credit information, financing arrangements, information
disclosed to the Employee by any GLG Entity in confidence directly or indirectly, information
that the Employee ought reasonably to understand is confidential, and information in respect
of which any GLG Entity is bound by an obligation of confidence to a third party, and whether
in writing (including via email), orally, or by electronic records, drawings, pictures, or
inspection of tangible property.
	 
	9.2	 	The Employee acknowledges that, during the course of his employment with GLG, the Employee
has had and will have access to Confidential Information. The Employee agrees, both during
the term of his employment with GLG and following its termination,

12

 

	 	 	that he has and will continue to hold the Confidential Information in the strictest
confidence, and that he has not and will not use or attempt to use, other than in the proper
performance of the Employee’s duties, the Confidential Information except for the benefit of
the GLG Entities, and he has not and will not disclose any Confidential Information to any
other person or entity without the prior written authorization of GLG. The Employee shall
use best endeavors to prevent the unauthorized publication or misuse of any Confidential
Information.
	 
	9.3	 	The restrictions of clause 9.2 do not apply to any Confidential Information that (a) has
entered into the public domain other than by a breach of this Agreement or other obligation of
confidentiality of which the Employee is aware, or (b) solely to the extent and for the
duration required, is required to be disclosed under a validly-issued court order and which
disclosure the GLG Entities, following the Employee’s immediate notification to GLG of such
requirement, are unable legally to prevent.
	 
	9.4	 	The Employee will be required, and hereby agrees, to execute any additional confidentiality
agreements with any GLG Entity in such form as will be required by GLG or such GLG Entity.
	 
	9.5	 	Following the termination of the Employee’s employment with GLG, or at any time during its
continuance upon request by GLG, the Employee will promptly deliver to GLG and not keep in his
possession, recreate, or deliver to any other person or entity, any and all property that
belongs to any GLG Entity, or that belongs to any other third party and is in the Employee’s
possession as a result of his employment with GLG, including, without limitation, any
Confidential Information, computer hardware and software, palm pilots, pagers, cell phones,
blackberries, PDAs, other electronic equipment, records, data, client lists and information,
notes, reports, correspondence, financial information, corporate information, account
information, files, and other documents and information, including any and all copies of the
foregoing.
	 
	10.	 	Intellectual Property.
	 
	10.1	 	“Intellectual Property” means any rights in or to intellectual property including, without
limitation, patents, trade marks, service marks, design rights, copyrights, utility models,
inventions, drawings, rights in computer programs (including both object code and source
code), and whether registered or unregistered, applications for registration of any of the
foregoing and the right to apply for them in any part of the world, and rights of like nature
arising or subsisting anywhere in the world in relation to all of the foregoing.
	 
	10.2	 	The Employee agrees that all Intellectual Property that the Employee creates or discovers
during the course of or as a result of his employment with GLG and that relates to or is
capable of being used in the business of any GLG Entity shall vest automatically in and belong
exclusively to GLG or its nominee, and the Employee shall

13

 

	 	 	not have any rights or licenses in such Intellectual Property except as explicitly granted
in writing to him by GLG.
	 
	10.3	 	If, at any time in the course of the Employee’s employment with GLG, the Employee makes or
discovers or participates in the making or discovery of any Intellectual Property relating to
or capable of being used in the business of any GLG Entity, then the Employee shall
immediately disclose full details of such Intellectual Property to GLG, and at the expense of
GLG the Employee shall do all things necessary or desirable for obtaining appropriate forms of
protection for the Intellectual Property in such parts of the world as may be specified by GLG
and for vesting all rights in the same in GLG or its nominee.
	 
	10.4	 	The Employee hereby irrevocably appoints GLG or its nominee to be the Employee’s agent to
sign any instrument, or to execute or do any act, on the Employee’s behalf in order to give
GLG or its nominee the full benefit of this clause 10, and in favor of any third party a
certificate in writing signed by an officer of GLG that any instrument or act falls within the
authority of GLG conferred by this clause 10 shall be conclusive evidence that such is the
case.
	 
	10.5	 	The Employee hereby waives all of the Employee’s moral rights, if any, in respect of any acts
of any GLG Entity or any party acting on its authority, in relation to any Intellectual
Property that is the property of or licensed to GLG, its nominee, or any GLG Entity by virtue
of this clause 10.
	 
	10.6	 	The Employee agrees that he has disclosed in writing all Intellectual Property that was made
or discovered by the Employee prior to the commencement of his employment with GLG, or that
belongs to the Employee either solely or jointly with others (each such item referred to as a
“Prior Invention” and collectively as “Prior Inventions”). Other than as so disclosed, the
Employee agrees and acknowledges that there are no Prior Inventions. If, in the course of the
Employee’s employment with GLG, the Employee incorporates a Prior Invention into any product,
software, business material, process, service, or machine of any GLG Entity, then the GLG
Entities are hereby granted a non-exclusive, royalty-free, irrevocable, perpetual, worldwide
license (with the right to sublicense) to make, have made, copy, modify, make derivative works
of, use, sell, and otherwise distribute such Prior Invention as part of or in connection with
such product, software, business material, process, service, or machine.
	 
	10.7	 	The Employee shall keep and maintain adequate and up to date written records of all
Intellectual Property made or discovered by the Employee (either solely or jointly with
others) during his employment with GLG. The records may be in the form of notes, sketches,
drawings, flow charts, electronic data or recordings, laboratory notebooks, or any similar
format appropriate to the relevant Intellectual Property and/or required from time to time by
GLG. The records will be available to and remain the sole property of

14

 

	 	 	GLG at all times, and the Employee shall not perform any action with such records (other
than to maintain them in an up to date state) without the express permission of GLG, such
permission to be at the sole discretion of GLG.
	 
	10.8	 	All rights and obligations of the Employee under this clause 10 shall continue in full force
and effect after the termination of his employment and shall be binding upon the Employee’s
heirs, assigns, and personal representatives.
	 
	11.	 	Further Obligations of the Employee.
	 
	11.1	 	The Employee shall, during his employment with GLG and (where appropriate) after its
termination, comply (and, if applicable, shall procure that his spouse and minor children
shall comply) with all applicable rules of law, regulations, and codes of conduct of any GLG
Entity in effect from time to time in relation to dealings in shares, debentures, or other
securities, and the Employee shall, in relation to any dealings in securities of foreign
companies, comply with all laws of any foreign state affecting dealings in the securities of
such companies.
	 
	11.2	 	The Employee represents that his employment with GLG does not violate any prior agreement
with a former employer or third party. Should the Employee breach such representation, the
Employee agrees to indemnify the GLG Entities on demand for any and all damages (including,
without limitation, legal fees) that any GLG Entity incurs as a result of the Employee’s
breach of such representation.
	 
	12.	 	Restrictive Covenants.
	 
	12.1	 	For the purpose of this clause 12, the following expressions shall have the following
respective meanings:

	 	12.1.1	 	“Business” means the management, investment management, and investment advisory
businesses, and the business of structuring, establishing, marketing, distributing, and
managing investment funds, as carried on by any GLG Entity on the Employee’s employment
termination date.
	 
	 	12.1.2	 	“Intermediary” means (a) any person who, at any time during the two years immediately
preceding the Employee’s employment termination date, promoted, marketed, advised, or
arranged for investors in the services and/or products (including investment funds) of
any GLG Entity, (b) any person who, during such two-year period, was a partner, member,
employee, or agent of, or consultant to, such Intermediary, or (c) any person who,
during such two-year period, was a partner, member, employee or agent of a client or
prospective client of any GLG Entity and who was working in the capacity of an
Intermediary, and in all cases, with which Intermediary the Employee had direct
dealings on behalf of any GLG Entity in connection with such Intermediary’s promoting,
marketing, advising, or

15

 

	 	 	 	arranging for investors in the services and/or products (including investment funds)
of any GLG Entity.
	 
	 	12.1.3	 	“Key Individual” means any person who, at the Employee’s employment termination date,
is employed or engaged (including, without limitation, as a partner of member) by any
GLG Entity (a) with whom the Employee has had material contact during the course of his
employment with GLG, and (b) either (i) is employed or engaged in marketing services
and/or products (including investment funds), in managing fund assets, as an analyst,
or in a senior management position, or (ii) is in the possession of Confidential
Information, or (iii) is directly managed by or reports to the Employee; and in the
event that any person is found to have been solicited by the Employee prior to the
Employee’s employment termination date and such person would have been a Key Individual
on the Employee’s employment termination date but for the actions of the Employee, then
such person will also be considered to be a Key Individual.
	 
	 	12.1.4	 	“Prospective Intermediary” means any person (a) with whom or which any GLG Entity
entered into negotiations or discussions, or (b) on whom or which any GLG Entity
expended a material amount of money, in either case during the period of six months
immediately preceding the Employee’s employment termination date and to the knowledge
of the Employee prior to his employment termination date, and in either case, (i) with
a view toward securing introductions to others for the purpose of providing services or
doing business with such other persons, (ii) with whom or which person the Employee had
direct dealings on behalf of any GLG Entity, and (iii) which person does not
affirmatively indicate to the GLG Entities, prior to the Employee’s employment
termination date, that he, she, or it does not wish to become an Intermediary of the
GLG Entities.
	 
	 	12.1.5	 	“Restricted Area” means the United States, the United Kingdom, and any other country
in which the Employee has undertaken his duties for the GLG Entities to a material
extent at any time during the period of twelve months immediately preceding the
Employee’s employment termination date.
	 
	 	12.1.6	 	“Restriction Period” means the period of the Employee’s employment with GLG, plus (a)
the period of twelve months for purposes of clauses 12.3, 12.4.1, 12.4.3, 12.4.6,
12.4.8, and 12.4.10, (b) the period of six months for purposes of clauses 12.4.2 and
12.4.4, and (c) the period of eighteen months for purposes of clauses 12.4.5, 12.4.7,
and 12.4.9, with the time periods in clauses (a), (b), and (c) calculated from the
Employee’s employment termination date; provided that the length of the post-employment
period may be extended in accordance with the terms of clause 8.1.

16

 

	12.2	 	The Employee acknowledges that, during the course of his employment with GLG, he has had and
will have (a) access to Confidential Information, and/or (b) influence over or connection with
existing and prospective clients, Intermediaries, Prospective Intermediaries, employees, and
other service providers of the GLG Entities, and accordingly, having had the opportunity to
take legal advice or voluntarily having waived such opportunity, is willing to enter into the
covenants described in this clause 12 in order to provide the GLG Entities with reasonable
protection for those interests.
	 
	12.3	 	The Employee hereby covenants with GLG that he will not, for the Restriction Period, without
the prior written consent of GLG in its sole and absolute discretion, either alone or jointly
with or on behalf of any person, directly or indirectly, carry on or set up, or be employed or
engaged by or in, or otherwise assist or be interested in, in any capacity (except as a
shareholder or other equity owner of not more than three percent (3%) of the shares of any
company whose shares are publicly traded on any recognized stock exchange), a business that is
carried on in competition with the Business anywhere within the Restricted Area.
	 
	12.4	 	The Employee hereby covenants with GLG that he will not, for the Restriction Period, without
the prior written consent of GLG in its sole and absolute discretion, either alone or jointly
with or on behalf of any person, directly or indirectly:

	 	12.4.1	 	in connection with the carrying on of any business that is in competition with the
Business, have business dealings with, provide services to, or otherwise accept the
custom of any person who or which has at any time during the period of twelve months
immediately preceding the Employee’s employment termination date done business or dealt
with, or received services from, any GLG Entity as a client, and with whom or which the
Employee shall have had dealings during the course of his employment with GLG or any
other service relationship with the GLG Entities, other than clients that were
Business-related clients of the Employee (as opposed to clients of his accounting
practice) prior to the time he first provided services to any of the GLG Entities;
	 
	 	12.4.2	 	in connection with the carrying on of any business that is in competition with the
Business, have business dealings with, provide services to, or otherwise accept the
custom of any person who or which is a prospective client of any GLG Entity, by
providing any service to, dealing with, or doing business with such prospective client
that is the same or substantially similar to services and/or products (including
investment funds) that had been or are being marketed to such prospective client by any
GLG Entity on the Employee’s employment termination date or during the period of six
months immediately preceding such employment termination date, and of which marketing
the Employee is aware prior to his employment termination date, provided that, prior to
the Employee’s employment

17

 

	 	 	 	termination date, such prospective client has not affirmatively indicated that he,
she, or it does not wish to become a client of the GLG Entities;
	 
	 	12.4.3	 	in connection with the carrying on of any business that is in competition with the
Business, have business dealings with any Intermediary for the purpose of securing or
seeking to secure from such Intermediary the opportunity to provide to his, her, or its
clients or prospective clients any services and/or products (including investment
funds) that are the same or substantially similar to those provided by any GLG Entity,
or to place the business of any such client or prospective client with another business
that is in competition with the Business;
	 
	 	12.4.4	 	in connection with the carrying on of any business that is in competition with the
Business, have business dealings with any Prospective Intermediary for the purpose of
securing or seeking to secure from such Prospective Intermediary the opportunity to
provide to his, her, or its clients or prospective clients any services and/or products
(including investment funds) that are the same or substantially similar to those
provided by any GLG Entity, or to place the business of any such client or prospective
client with another business that is in competition with the Business;
	 
	 	12.4.5	 	in connection with the carrying on of any business that is in competition with the
Business, canvass, solicit, or approach, or cause to be canvassed, solicited, or
approached, for orders or instructions in respect of any services and/or products
(including investment funds) of a type offered or provided by any GLG Entity, any
person who or which at the Employee’s employment termination date or at any time during
the period of twelve months prior to that date is a client of any GLG Entity, and with
whom or which the Employee shall have had dealings during the course of his employment
with GLG or any other service relationship with the GLG Entities, other than clients
that were Business-related clients of the Employee (as opposed to clients of his
accounting practice) prior to the time he first provided services to any of the GLG
Entities;
	 
	 	12.4.6	 	in connection with the carrying on of any business that is in competition with the
Business, canvass, solicit, or approach, or cause to be canvassed, solicited, or
approached, for orders or instructions in respect of any services and/or products
(including investment funds) of a type offered or provided by any GLG Entity, any
person who or which is a prospective client of any GLG Entity, to whom or which such
services had been or are being marketed on the Employee’s employment termination date
or during the period of six months immediately preceding such employment termination
date, and of which marketing the Employee is aware prior to his employment termination
date, provided that, prior to the Employee’s employment termination date, such
prospective client has not affirmatively indicated that he, she, or it does not wish to
become a client of the GLG Entities;

18

 

	 	12.4.7	 	in connection with the carrying on of any business that is in competition with the
Business, canvass, solicit, or approach, or cause to be canvassed, solicited, or
approached, any Intermediary for the purpose of securing or seeking to secure from such
Intermediary the opportunity to provide to his, her, or its clients or prospective
clients any services and/or products (including investment funds) that are the same or
substantially similar to those provided by any GLG Entity, or to place the business of
any such client or prospective client with another business that is in competition with
the Business;
	 
	 	12.4.8	 	in connection with the carrying on of any business that is in competition with the
Business, canvass, solicit, or approach, or cause to be canvassed, solicited, or
approached, any Prospective Intermediary for the purpose of securing or seeking to
secure from such Prospective Intermediary the opportunity to provide to his, her, or
its clients or prospective clients any services and/or products (including investment
funds) that are the same or substantially similar to those provided by any GLG Entity,
or to place the business of any such client or prospective client with another business
that is in competition with the Business;
	 
	 	12.4.9	 	solicit or endeavor to solicit for employment or for the provision of service, or
entice away or endeavor to entice away from employment or other service relationship
with the GLG Entities, any Key Individual who, on the Employee’s employment termination
date, is employed or engaged by any GLG Entity, or who was so employed or engaged at
any time during the six months immediately preceding the Employee’s employment
termination date; or
	 
	 	12.4.10	 	hire or engage for services any Key Individual who, on the Employee’s employment
termination date, is employed or engaged by any GLG Entity, or who was so employed or
engaged at any time during the six months immediately preceding the Employee’s
employment termination date.

	12.5	 	Notwithstanding anything to the contrary in this clause 12, following the termination of the
Employee’s employment with GLG, the Employee will be permitted to (a) work for any certified
public accounting firm, provided that the Employee is not involved in (whether by working for,
advising, consulting with, or otherwise servicing) any aspect of such firm’s investment
management or investment advisory businesses, if any, including any such business conducted
through such firm’s subsidiaries or other related entities, and (b) service the clients of any
certified public accounting firm.
	 
	12.6	 	The Employee hereby agrees that he will, at the cost of GLG, enter into a direct agreement or
undertaking with any GLG Entity whereby he will accept restrictions and provisions
corresponding to the restrictions and provisions in this clause 12 in relation to such
activities and such area and for such a period not exceeding the Restriction Period

19

 

	 	 	as such GLG Entity may reasonably require for the protection of its legitimate business
interests.
	 
	12.7	 	The covenants contained in this clause 12 are intended to be separate and severable and
enforceable as such, and to be enforceable to the fullest extent permissible under the laws of
each jurisdiction in which enforcement is sought. If any restriction contained in this
Agreement is for any reason held by a court to be excessively broad as to duration, activity,
geographical scope, or subject, then such restriction will be construed, judicially modified,
or “blue penciled” in such jurisdiction so as to thereafter be limited or reduced to the
extent required to be enforceable in such jurisdiction in accordance with applicable law. If
any restriction contained in this Agreement is held to be invalid, illegal, or unenforceable
in any respect under any applicable law in any jurisdiction, then such invalidity, illegality,
or unenforceability will not affect any other provision of this Agreement or any other
jurisdiction, but such restriction will be reformed, construed, and enforced in such
jurisdiction as if such invalid, illegal, or unenforceable restriction had never been
contained in this Agreement.
	 
	12.8	 	The Employee acknowledges that the remedy at law for his breach of this clause 12 will be
inadequate, and that the damages flowing from such breach will not be readily susceptible to
being measured in monetary terms. Accordingly, upon a breach or threatened breach of this
clause 12, GLG will be entitled to immediate injunctive relief (or other equitable relief) and
may obtain a temporary order restraining any breach or further breach. No bond or other
security will be required to obtain such relief, and the Employee consents to the issuance of
such equitable relief. Nothing in this clause 12.8 will be deemed to limit GLG’s remedies at
law or in equity that may be pursued or availed of by GLG for any breach or threatened breach
by the Employee of any part of this clause 12.
	 
	12.9	 	The covenants contained in this clause 12 have been agreed by the parties hereto to be
reasonable. The business of the GLG Entities is highly competitive, the terms of this clause
12 are material to the parties’ willingness to enter into this Agreement, and the terms and
conditions of this clause 12 are not more restrictive than is necessary to protect the
legitimate interests of the GLG Entities.
	 
	13.	 	Conditional Nature of Continued Employment.
	 
	13.1	 	The Employee’s continued employment with GLG is subject to the following conditions:

	 	(a)	 	validity and accuracy of all representations made by the Employee regarding his
educational, vocational, professional, and any other appropriate qualifications, and
upon request by GLG the Employee will be required to produce any relevant documentation
supporting such representations;
	 
	 	(b)	 	compliance with any compliance regulations, codes of conduct, and personal
investment policies applicable to the Employee; and

20

 

	 	(c)	 	the Employee’s successful and continued registration with, to the extent
applicable, the Securities Exchange Commission and any other relevant government agency
governing the financial services business.

	 	 	The Employee recognizes that his employment may be terminated with or without notice or
payment in the event that such requirements fail to be satisfied at any time during his
employment with GLG.
	 
	14.	 	Miscellaneous.
	 
	14.1	 	This Agreement constitutes the entire agreement and understanding between GLG and the
Employee and supersedes any other agreements, whether oral or written, with respect to the
subject matter of this Agreement, including, without limitation, as of the effective date of
this Agreement, the employment agreement between GLG and the Employee executed as of January
9, 2008 and effective on March 18, 2008 and the amended and restated employment agreement
between GLG and the Employee dated March 17, 2010, but specifically excluding the restricted
stock agreements between GLG and the Employee dated March 18, 2008, March 18, 2009, and
March 17, 2010, except that clause 8.5(e) supersedes the terms of such restricted stock
agreements. This Agreement may only be modified or amended by a further agreement in writing
signed by the parties hereto.
	 
	14.2	 	This Agreement is governed by and shall be construed in accordance with the laws of the State
of New York without giving effect to its conflict of laws principles.
	 
	14.3	 	Any action by the parties hereto related to this Agreement may be instituted in any state or
federal court having proper subject matter jurisdiction located within the State of New York,
or in any other court in which jurisdiction is otherwise proper. Accordingly, the Employee
and GLG irrevocably and unconditionally (a) submit to the jurisdiction of any such court and
(b) waive (i) any objection to the laying of venue of any such action brought in such court
and (ii) any claim that any such action brought in any such court has been brought in an
inconvenient forum.
	 
	14.4	 	This Agreement may be executed in several counterparts, each of which shall be deemed to be
an original, and all such counterparts when taken together shall constitute one and the same
original.
	 
	14.5	 	GLG shall be entitled, without notice to the Employee, at any time during his employment with
GLG and upon the termination of such employment, to set off and/or make deductions from the
Employee’s compensation or from any other sums due to the Employee from any GLG Entity in
respect of any overpayment of any kind made to the Employee or in respect of any outstanding
debt or other sum due from the Employee. In addition, all payments made under this Agreement
to the Employee will be subject to applicable tax and other payroll withholdings.

21

 

	14.6	 	Except to the extent that applicable law requires that any specific action be taken or
performed by the Board, the Compensation Committee, or any other committee of the Board, or to
the extent otherwise provided in this Agreement, any action to be taken or performed, or
direction or consent to be provided, by GLG under this Agreement may be taken, performed, or
provided by either of GLG’s Co-Chief Executive Officers (or if there is only one Chief
Executive Officer, then by that individual).
	 
	14.7	 	Any waiver by GLG of any provision, or any breach of any provision, of this Agreement shall
not operate or be construed as a waiver of any subsequent breach of such provision or any
other provision herein.
	 
	14.8	 	Due to the personal nature of the services contemplated under this Agreement, this Agreement
and the Employee’s rights and obligations hereunder may not be assigned by the Employee. GLG
may assign its rights, together with its obligations hereunder, in connection with any sale,
transfer, or other disposition of all or substantially all of its business and/or assets,
provided that any such assignee of GLG agrees to be bound by the provisions of this Agreement.
Further, prior to any sale, transfer, distribution, or liquidation of all or any significant
portion of GLG’s consolidated assets, or any significant recapitalization or winding-up of
GLG, or any event that could reasonably impair the ability of GLG to satisfy its obligations
under this Agreement, GLG will notify the Employee in writing thereof, and shall arrange
alternate means of providing for its obligations under this Agreement, including the
assumption of such obligations by another party reasonably acceptable to the Employee, the
creation of a “rabbi trust” arrangement reasonably acceptable to the Employee, or the creation
of an escrow in an amount and upon terms reasonably acceptable to the Employee, provided that
in no event will this sentence be interpreted to require, and the parties hereto do not
intend, that, in connection with a change in GLG’s financial health, GLG restrict the use of
assets for the payment to the Employee of nonqualified deferred compensation that is subject
to (and not exempt from) the requirements of Section 409A. GLG shall require any successor to
all or substantially all of the business and/or assets of GLG, whether direct or indirect, by
purchase, merger, consolidation, acquisition of stock, or otherwise, by an agreement in form
and substance satisfactory to the Employee, expressly to assume and agree to perform this
Agreement in the same manner and to the same extent as GLG would be required to perform if no
such succession had taken place.
	 
	14.9	 	Notwithstanding anything in this Agreement to the contrary, in the event that amendments to
this Agreement are necessary in order to comply with Section 409A or to minimize or eliminate
any income inclusion and penalties under Section 409A (e.g., under any document or operational
correction program), the Employee and GLG agree to negotiate in good faith the applicable
terms of such amendments and to implement such negotiated amendments, on a prospective and/or
retroactive basis, as needed. Further, to the extent any amount or benefit under this
Agreement is nonqualified deferred compensation that is

22

 

	 	 	subject to (and not exempt from) the requirements of Section 409A, then, with respect to such
amount or benefit, this Agreement will be interpreted in a manner to comply with the
requirements of Section 409A. Further, a termination of employment shall not be deemed to
have occurred for purposes of any provision of this Agreement providing for the payment of
any amounts or benefits upon or as a result of a termination of employment unless such
termination is also a “separation from service” within the meaning of Section 409A and, for
purposes of any such provision of this Agreement, references to a “termination,” “employment
termination,” “termination of employment,” “termination date,” “employment termination date,”
or like terms shall mean “separation from service” or the date of the “separation from
service,” as applicable.
	 
	14.10	 	Any notices, requests, demands, and other communications required or permitted hereunder
shall be in writing (which includes, without limitation, e-mail) and, if to be given to the
Employee, shall be given to the Employee, and if to be given to GLG, shall be given to any
officer or director of GLG, with a copy to either of the Co-Chief Executive Officers of GLG
(or to the Chief Executive Officer of GLG if there is only one such individual). Any such
notice, request, demand, or other communication shall be deemed to have been duly given if
delivered by hand or if sent via e-mail to the applicable individual’s business e-mail
address, or if mailed by registered or certified mail and addressed, if to the Employee, to
his last known home address as set forth in GLG’s personnel records, and if to GLG, to the
attention of any officer or director of GLG at the then-current GLG business address of such
individual.

	 	 	 	 	 

	GLG Partners, Inc.	 	 
	 
	 	 	 	 
	by:

	 	/s/ Noam Gottesman
 

Name: Noam Gottesman
	 	Date: 5/16/2010 
	 

	 	Title: Co-Chief Executive Officer	 	 
	 
	 	 	 	 
	by: Employee	 	 
	 
	 	 	 	 
	/s/ Jeffrey M. Rojek	 	Date: 5/16/2010
	 	 	 
	Jeffrey M. Rojek	 	 

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EXHIBIT A — DEFINITION OF “GOOD REASON”

“Good Reason” shall mean:

	(a)	 	any material diminution in the Employee’s authority, duties (as set forth in clause 2.1 of
the Agreement), responsibilities, or reporting line, other than as permitted in clauses 8.7.1
and 8.7.2 of the Agreement; or
	 
	(b)	 	any material diminution in the authority, duties, and responsibilities of the Co-Chief
Executive Officers of GLG; or
	 
	(c)	 	following a Change of Control (as defined in Exhibit C) or during the pendency of a Potential
Change of Control (as defined in Exhibit D), any material diminution in the Employee’s total
annual compensation from GLG; or
	 
	(d)	 	a material change in the location from which the Employee must perform his services for GLG,
including a requirement that he relocate to London, England; or
	 
	(e)	 	a material breach of this Agreement by GLG; or
	 
	(f)	 	the occurrence of a Change of Control, but only to the extent that the Employee terminates
his employment for any reason, including by delivering a Notice to Non-Extension to GLG under
clause 1.2 of the Agreement, during the one-year period ending on, and including, the first
anniversary of such Change of Control (or if such first anniversary date is not a business day
in either London, England or New York, New York, then the first such business day following
such first anniversary date).

Notwithstanding the foregoing, no action or inaction will be deemed to constitute “Good Reason”
under clauses (a) through (e) above unless: (i) the Employee gives reasonably-detailed, written
notice to GLG of the action or inaction alleged to constitute “Good Reason” no later than ninety
(90) days after the initial existence of the action or inaction alleged to constitute “Good
Reason”; (ii) GLG is provided with thirty (30) days in which it may cure any action or inaction
that would otherwise constitute “Good Reason”; and (iii) GLG fails to cure such action or inaction
during the thirty-day cure period, in which case the Employee’s employment will be deemed to have
terminated upon the expiration of such cure period unless the parties hereto agree in writing to a
different termination date. In the event the Employee terminates his employment with Good Reason
under clause (f) above, such termination will be effective immediately upon the Employee giving
written notice of such termination to GLG.

24

 

EXHIBIT B — DEFINITION OF “CAUSE”

“Cause” shall be deemed to exist if the Employee shall at any time:

	(a)	 	be guilty of gross misconduct, or commit a material breach of any provision of the Agreement;
or
	 
	(b)	 	be in material breach of regulatory requirements or internal compliance rules of any GLG
Entity consistent therewith that are applicable to the Employee; or
	 
	(c)	 	have any certification, registration, license, or similar requirement to maintain his status
as a certified public accountant or a state-licensed accountant suspended, withdrawn, revoked,
or otherwise terminated, provided that such suspension, withdrawal, revocation, or termination
will not be grounds to terminate the Employee with Cause if it occurs because of the
Employee’s failure to complete any necessary continuing professional education hours or
credits and such failure was consented to in advance and in writing by GLG; or
	 
	(d)	 	be convicted of, or plead no contest to, a felony other than a traffic-related offense for
which a non-custodial penalty is imposed; or
	 
	(e)	 	prior to a Change of Control (as defined in Exhibit C) and not during the pendency of a
Potential Change of Control, be in material breach of any of the conditions or continuing
obligations under clause 13 of the Agreement.

Notwithstanding the foregoing, no action or inaction will be deemed to constitute “Cause” unless:
(i) GLG gives reasonably-detailed, written notice to the Employee of the action or inaction alleged
to constitute “Cause”; (ii) to the extent that such action or inaction can be cured, the Employee
is provided with thirty (30) days in which he may cure any such action or inaction that would
otherwise constitute “Cause”; and (iii) the Employee fails to cure such action or inaction during
the thirty-day cure period, in which case the Employee’s employment will be deemed to have
terminated upon the expiration of such cure period unless the parties hereto agree in writing to a
different termination date.

25

 

EXHIBIT C — DEFINITION OF “CHANGE OF CONTROL”

For purposes of the Agreement, “Change of Control” means the earliest to occur of the following
events:

	(i)	 	the acquisition of ownership after the commencement of the Employee’s employment with GLG by
any individual, entity, or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the
Securities Exchange Act of 1934, and any successor statute, as it may be amended from time to
time (the “Exchange Act”)) (each, a “Person”) of beneficial ownership (within the meaning of
Rule 13d-3 promulgated under the Exchange Act) of the combined voting power of the outstanding
voting securities of GLG entitled to vote generally in the election of directors (“Outstanding
Voting Securities”) in excess of the Applicable Threshold (as defined below); provided that,
for purposes of this subclause (i), the following acquisitions shall not constitute a Change
of Control: (x) any acquisition by any employee benefit plan (or related trust) sponsored or
maintained by a GLG Entity; (y) any acquisition pursuant to the exchange of Exchangeable Class
B Ordinary Shares of FA Sub 2 Limited for shares of common stock, par value $0.0001 per share,
of GLG, or any security of GLG issued in substitution, exchange, or lieu thereof; or (z) any
acquisition pursuant to a transaction that complies with each of clauses (x), (y), and (z) of
subclause (iii) of this definition of Change of Control; or
	 
	(ii)	 	individuals who, as of the commencement of the Employee’s employment with GLG, constitute the
Board (the “Incumbent Board”) cease for any reason to constitute at least a majority of the
Board; provided that any individual becoming a director subsequent to that date whose
election, or nomination for election by GLG’s stockholders, was approved by a vote of at least
a majority of the directors then comprising the Incumbent Board shall be considered as though
such individual were a member of the Incumbent Board, but excluding, for this purpose, any
such individual whose initial assumption of office occurs as a result of an actual or
threatened election contest with respect to the election or removal of directors or other
actual or threatened solicitation of proxies or consents by or on behalf of a individual,
entity, or group other than the Board; or
	 
	(iii)	 	consummation of a reorganization, merger or consolidation, or sale or other disposition of
all or substantially all of the assets of GLG, or the acquisition of assets of another entity
(a “Corporate Transaction”), in each case, unless, following such Corporate Transaction, (x)
all or substantially all of the individuals and entities who were the beneficial owners of the
Outstanding Voting Securities immediately prior to such Corporate Transaction beneficially
own, directly or indirectly, more than 50% of the combined voting power of the then
outstanding voting securities entitled to vote generally in the election of directors of the
corporation resulting from such Corporate Transaction (including, without limitation, a
corporation that as a result of such transaction owns GLG or all or substantially all of GLG’s
assets either directly or through one or more subsidiaries), (y) no Person (excluding any
employee benefit plan (or related trust) of any GLG Entity or such

26

 

	 	 	corporation resulting from such Corporate Transaction) beneficially owns, directly or indirectly, the
combined voting power of the then outstanding voting securities in excess of the greater of (1) 25% of the
outstanding voting securities or (2) the number of outstanding voting securities beneficially owned by Noam
Gottesman, Pierre Lagrange, and Emmanuel Roman (including their respective families, Trusts, partnerships,
and charitable foundations controlled by any of Noam Gottesman, Pierre Lagrange, and Emmanuel Roman), in each
case, with respect to the corporation resulting from such Corporate Transaction, except to the extent that
such ownership existed in GLG prior to the Corporate Transaction, and (z) at least a majority of the members
of the board of directors of the corporation resulting from such Corporate Transaction were members of the
Incumbent Board at the time of the execution of the initial agreement, or of the action of the Board,
providing for such Corporate Transaction; or
	 
	(iv)	 	approval by the stockholders of GLG of a complete liquidation or dissolution of GLG.

For purposes of this Exhibit C and Exhibit D, “Applicable Threshold” means the greater of (i) 25%
of the then Outstanding Voting Securities, or (ii) the then Outstanding Voting Securities
beneficially owned by Noam Gottesman, Pierre Lagrange, and Emmanuel Roman (including by their
respective families, Trusts, partnerships and charitable foundations controlled by any of Noam
Gottesman, Pierre Lagrange, and Emmanuel Roman), as the case may be.

For purposes of this Exhibit C and Exhibit D, “Trust” means any trust of which any of Noam
Gottesman, Pierre Lagrange, and Emmanuel Roman is the settlor or of which any of them and/or any of
the members of their family are beneficiaries, including the Gottesman GLG Trust, the Lagrange GLG
Trust and the Roman GLG Trust.

27

 

EXHIBIT D — DEFINITION OF “POTENTIAL CHANGE OF CONTROL”

For purposes of the Agreement, a “Potential Change of Control” shall be deemed to have occurred
upon:

	(i)	 	the commencement of a tender or exchange offer by any third person (other than a tender or
exchange offer which, if consummated, would not result in a Change of Control) of the
Outstanding Voting Securities (as defined in Exhibit C) in excess of the Applicable Threshold
(as defined in Exhibit C); or
	 
	(ii)	 	the execution of an agreement by GLG, the consummation of which would result in the
occurrence of a Change of Control; or
	 
	(iii)	 	the public announcement by any person (including GLG) of an intention to take or to consider
taking actions that, if consummated, would constitute a Change of Control; or
	 
	(iv)	 	the adoption by the Board, as a result of other circumstances, including circumstances
similar or related to the foregoing, of a resolution to the effect that, for purposes of the
Agreement, a Potential Change of Control has occurred.

A Potential Change of Control will be deemed to be pending from the occurrence of the event giving
rise to the Potential Change of Control until the earlier of (I) the first anniversary of the date
on which such Potential Change of Control first occurred or (II) the date the Board determines in
good faith that such events will not result in the occurrence of a Change of Control.

28

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