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                                                                   EXHIBIT 10.37

                             COINMACH SERVICE CORP.
                          2004 LONG-TERM INCENTIVE PLAN

                                   SECTION 1

                                     GENERAL

      1.1 Purpose. The Coinmach Service Corp. 2004 Long-Term Incentive Plan (the
"Plan") has been established by Coinmach Service Corp. (the "Company") to (i)
attract and retain persons eligible to participate in the Plan; (ii) motivate
Participants, by means of appropriate incentives, to achieve long-range goals;
(iii) provide incentive compensation opportunities that are competitive with
those of other similar companies; and (iv) further align Participants' interests
with those of the Company's other shareholders through compensation that is
based on the Company's securities; and thereby promote the long-term financial
interest of the Company and the Subsidiaries, including the growth in value of
the Company's equity and the enhancement of long-term investor's return.

      1.2 Participation. Subject to the terms and conditions of the Plan, the
Committee shall determine and designate, from time to time, from among the
Eligible Individuals, those persons who will be granted one or more Awards under
the Plan, and thereby become "Participants" in the Plan.

      1.3 Operation, Administration, and Definitions. The operation and
administration of the Plan, including the Awards made under the Plan, shall be
subject to the provisions of Section 5 (relating to operation and
administration). Capitalized terms in the Plan shall be defined as set forth in
the Plan (including the definition provisions of Section 9).

                                   SECTION 2

                                OPTIONS AND SARS

      2.1 Definitions.

            (a) The grant of an "Option" entitles the Participant to purchase
      Shares at an Exercise Price established by the Committee. Any Option
      granted under this Section 2 may be either an incentive stock option (an
      "ISO") or a non-qualified option (an "NQO"), as determined in the
      discretion of the Committee. An "ISO" is an Option that is intended to
      satisfy the requirements applicable to an "incentive stock option"
      described in section 422(b) of the Code. An "NQO" is an Option that is not
      intended to be an "incentive stock option" as that term is described in
      section 422(b) of the Code.

            (b) A stock appreciation right (an "SAR") entitles the Participant
      to receive, in cash or Shares (as determined in accordance with subsection
      5.7), value equal to (or otherwise based on) the excess of: (a) the Fair
      Market Value of a specified number of Shares at the time of exercise; over
      (b) an Exercise Price established by the Committee.

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      2.2 Exercise Price. The "Exercise Price" of each Option and SAR granted
under this Section 2 shall be established by the Committee or shall be
determined by a method established by the Committee at the time the Option or
SAR is granted. The Exercise Price of an incentive stock option shall not be
less than 100% of the Fair Market Value of a Share on the date of grant (or, if
greater, the par value of a Share).

      2.3 Exercise. An Option and an SAR shall become vested and exercisable in
accordance with such terms and conditions and during such periods as may be
established by the Committee and set forth in the applicable Award Agreement;
provided, however, that notwithstanding any vesting dates set by the Committee
in such Award Agreement, the Committee may, in its sole discretion, accelerate
the exercisability of any Option or SAR, which acceleration shall not affect the
terms and conditions of such Option or SAR other than with respect to
exercisability. If an Option or SAR is exercisable in installments, such
installments or portions thereof which become exercisable shall remain
exercisable until the Award expires. In no event, however, shall an Option or
SAR expire later than ten years after the date of its grant.

      2.4 Payment of Option Exercise Price. The payment of the Exercise Price of
an Option granted under this Section 2 shall be subject to the following:

            (a) Subject to the following provisions of this subsection 2.4, the
      full Exercise Price for Shares purchased upon the exercise of any Option
      shall be paid at the time of such exercise (except that, in the case of an
      exercise arrangement approved by the Committee and described in paragraph
      2.4(c), payment may be made as soon as practicable after the exercise).

            (b) Subject to applicable law, the Exercise Price shall be payable
      in cash or by tendering, by either actual delivery of shares or by
      attestation, Shares acceptable to the Committee, and valued at Fair Market
      Value as of the day of exercise, or in any combination thereof, as
      determined by the Committee; provided that, except as otherwise provided
      by the Committee, payments made with Shares in accordance with this
      paragraph (b) shall be limited to Shares held by the Participant for not
      less than six months prior to the payment date.

            (c) Subject to applicable law and the procedures established by the
      Committee, the Committee may permit a Participant to elect to pay the
      Exercise Price upon the exercise of an Option by irrevocably authorizing a
      third party to sell Shares (or a sufficient portion of the Shares)
      acquired upon exercise of the Option and remit to the Company a sufficient
      portion of the sale proceeds to pay the entire Exercise Price and any tax
      withholding resulting from such exercise.

      2.5 No Repricing. Except for either adjustments pursuant to paragraph
5.2(f) (relating to the adjustment of shares), or reductions of the Exercise
Price approved by the Company's stockholders, the Exercise Price for any
outstanding Option may not be decreased after the date of grant nor may an
outstanding Option granted under the Plan be surrendered to the Company as
consideration for the grant of a replacement Option with a lower exercise price.

                                      -2-

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      2.6 Grants of Options and SARs. An Option may but need not be in tandem
with an SAR, and an SAR may but need not be in tandem with an Option (in either
case, regardless of whether the original award was granted under this Plan or
another plan or arrangement.) If an Option is in tandem with an SAR, the
exercise price of both the Option and SAR shall be the same, and the exercise of
the Option or SAR with respect to a share of Stock shall cancel the
corresponding tandem SAR or Option right with respect to such share. If an SAR
is in tandem with an Option but is granted after the grant of the Option, or if
an Option is in tandem with an SAR but is granted after the grant of the SAR,
the later granted tandem Award shall have the same exercise price as the earlier
granted Award, but the exercise price for the later granted Award may be less
than the Fair Market Value of a Share at the time of such grant.

      2.7 Required Notice of ISO Share Disposition. Each Participant awarded an
ISO under the Plan shall notify the Company in writing immediately after the
date he or she makes a disqualifying disposition of any Share acquired pursuant
to the exercise of such ISO. A disqualifying disposition is any disposition
(including any sale) of such Share before the later of (A) two years after the
date of grant of the Incentive Stock Option or (B) one year after the date the
Participant acquired the Stock by exercising the ISO.

                                   SECTION 3

                                FULL VALUE AWARDS

      3.1 Definition. A "Full Value Award" is a grant of one or more Shares or a
right to receive one or more Shares in the future, with such grant subject to
one or more of the following, as determined by the Committee:

            (a) The grant shall be in consideration of a Participant's
      previously performed services, or surrender of other compensation that may
      be due.

            (b) The grant shall be contingent on the achievement of performance
      or other objectives during a specified period.

            (c) The grant shall be subject to a risk of forfeiture or other
      restrictions that will lapse upon the achievement of one or more goals
      relating to completion of service by the Participant, or achievement of
      performance or other objectives.

The grant of Full Value Awards may also be subject to such other conditions,
restrictions and contingencies, as determined by the Committee.

      3.2 Restrictions on Awards. The Committee may designate a Full Value Award
granted to any Participant as Performance-Based Compensation. To the extent
required by Code section 162(m), any Full Value Award so designated shall be
conditioned on the achievement of one or more performance objectives. The
performance objectives shall be based on the Performance Measures selected by
the Committee. For Awards under this Section 3 intended to be Performance-Based
Compensation, the grant of the Awards and the establishment of the Performance
Measures shall be made during the period required under Code section 162(m).

                                      -3-

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                                   SECTION 4

                              CASH INCENTIVE AWARDS

      A Cash Incentive Award is the grant of a right to receive a payment of
cash (or in the discretion of the Committee, Shares having value equivalent to
the cash otherwise payable) that is contingent on achievement of performance
objectives over a specified period established by the Committee. The grant of
Cash Incentive Awards may also be subject to such other conditions, restrictions
and contingencies, as determined by the Committee. The Committee may designate a
Cash Incentive Award granted to any Participant as Performance-Based
Compensation. To the extent required by Code section 162(m), any such Award so
designated shall be conditioned on the achievement of one or more Performance
Measures, as selected by the Committee. For Awards under this Section 4 intended
to be Performance-Based Compensation, the grant of the Awards and the
establishment of the Performance Measures shall be made during the period
required under Code section 162(m).

                                   SECTION 5

                          OPERATION AND ADMINISTRATION

      5.1 Effective Date. The Plan shall be effective as of the effective date
of adoption by the Board (the "Effective Date"). In the event of Plan
termination, the terms of the Plan shall remain in effect as long as any Awards
under it are outstanding; provided, however, that no Awards may be granted under
the Plan after the ten-year anniversary of the most recent date on which it is
approved by the Company shareholders.

      5.2 Shares and Other Amounts Subject to Plan. The Shares for which Awards
may be granted under the Plan shall be subject to the following:

            (a) The Shares with respect to which Awards may be made under the
      Plan shall be Shares currently authorized but unissued or, to the extent
      permitted by applicable law, currently held or acquired by the Company as
      treasury shares, including shares purchased in the open market or in
      private transactions.

            (b) Subject to the following provisions of this subsection 5.2, the
      maximum number of Shares that may be delivered to Participants and their
      beneficiaries under the Plan shall be 15% of the aggregate number of Class
      A common stock and Class B common stock outstanding as of the Effective
      Date.

            (c) To the extent provided by the Committee, any Award may be
      settled in cash rather than Shares.

            (d) Only Shares, if any, actually delivered to the Participant or
      beneficiary on an unrestricted basis with respect to an Award shall be
      treated as delivered for purposes of the determination under paragraph (b)
      above, regardless of whether the Award is denominated in Shares or cash.
      Consistent with the foregoing:

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            (i) To the extent any Shares covered by an Award are not delivered
      to a Participant or beneficiary because the Award is forfeited or
      canceled, or the Shares are not delivered on an unrestricted basis
      (including, without limitation, by reason of the Award being settled in
      cash or used to satisfy the applicable tax withholding obligation), such
      Shares shall not be deemed to have been delivered for purposes of the
      determination under paragraph (b) above.

            (ii) If the exercise price of any Option granted under the Plan or
      any Prior Plan, or the tax withholding obligation with respect to any
      Award granted under the Plan or any Prior Plan, is satisfied by tendering
      Shares to the Company (by either actual delivery or by attestation), only
      the number of Shares issued net of the Shares tendered shall be deemed
      delivered for purposes of determining the number of Shares available for
      delivery under the Plan.

      (e) Subject to paragraph 5.2(f), the following additional maximums are
          imposed under the Plan.

          (i)   The maximum number of Shares that may be delivered to
                Participants and their beneficiaries with respect to ISOs
                granted under the Plan shall be 15% of the aggregate number of
                Class A common stock and Class B common stock outstanding as of
                the Effective Date; provided, however, that to the extent that
                Shares not delivered must be counted against this limit as a
                condition of satisfying the rules applicable to ISOs, such rules
                shall apply to the limit on ISOs granted under the Plan.

          (ii)  The maximum number of Shares that may be covered by Awards
                granted to any one Participant during any one calendar-year
                period pursuant to Section 2 (relating to Options and SARs)
                shall be 1.5% of the aggregate number of Class A common stock
                and Class B common stock outstanding as of the Effective Date.
                For purposes of this paragraph (ii), if an Option is in tandem
                with an SAR, such that the exercise of the Option or SAR with
                respect to a Share cancels the tandem SAR or Option right,
                respectively, with respect to such Share, the tandem Option and
                SAR rights with respect to each Share shall be counted as
                covering but one Share for purposes of applying the limitations
                of this paragraph (ii).

          (iii) The maximum number of Shares that may be issued in conjunction
                with Awards granted pursuant to Section 3.1 (relating to Full
                Value Awards) shall be 15% of the aggregate number of Class A
                common stock and Class B common stock outstanding as of the
                Effective Date.

          (iv) For Full Value Awards that are intended to be Performance-Based
                Compensation, no more than 1.5% of the aggregate number of Class
                A common stock and Class B common stock outstanding as of the
                Effective Date. Shares may be delivered pursuant to such Awards
                granted to any one Participant with respect to any
                one-calendar-year period (regardless of whether settlement of
                the Award is to occur prior to, at the time of, or after the
                time of vesting); provided

                                      -5-

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      that Awards described in this paragraph (iv) that are intended to be
      Performance-Based Compensation shall be subject to the following:

                  (A) If the Awards are denominated in Shares but an equivalent
            amount of cash is delivered in lieu of delivery of Shares, the
            foregoing limit shall be applied based on the methodology used by
            the Committee to convert the number of Shares into cash.

                  (B) If delivery of Shares or cash is deferred until after
            Shares have been earned, any adjustment in the amount delivered to
            reflect actual or deemed investment experience after the date the
            shares are earned shall be disregarded.

            (v) For Cash Incentive Awards that are intended to be
      Performance-Based Compensation, the maximum amount payable to any
      Participant with respect to any performance period shall equal $100,000
      multiplied by the number of calendar months included in that performance
      period; provided that Awards described in this paragraph (v) that are
      intended to be Performance-Based Compensation, shall be subject to the
      following:

                  (A) If the Awards are denominated in cash but an equivalent
            amount of Shares is delivered in lieu of delivery of cash, the
            foregoing limit shall be applied to the cash based on the
            methodology used by the Committee to convert the cash into Shares.

                  (B) If delivery of Shares or cash is deferred until after cash
            has been earned, any adjustment in the amount delivered to reflect
            actual or deemed investment experience after the date the cash is
            earned shall be disregarded.

          (f)   In the event of a corporate transaction involving the Company
                (including, without limitation, any stock dividend, stock split,
                extraordinary cash dividend, recapitalization, reorganization,
                merger, consolidation, split-up, spin-off, sale of assets or
                subsidiaries, combination or exchange of shares), the Committee
                may adjust Awards to preserve the benefits or potential benefits
                of the Awards. Action by the Committee may include: (i)
                adjustment of the number and kind of securities which may be
                delivered under the Plan; (ii) adjustment of the number and kind
                of Shares subject to outstanding Awards; (iii) adjustment of the
                Exercise Price of outstanding Options and SARs; and (iv) any
                other adjustments that the Committee determines to be equitable
                (which may include, without limitation, (I) replacement of
                Awards with other Awards which the Committee determines have
                comparable value and which are based on securities of a company
                resulting from the transaction, and (II) cancellation of the
                Award in return for cash payment of the current value of the
                Award, determined as though the Award is fully vested at the
                time of payment, provided that in the case of an Option or SAR,
                the amount of such payment may be the excess of value of the
                Share subject to the Option or SAR at the time of the
                transaction over the Exercise Price).

                                      -6-

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            (g) With respect to any of the individual or Plan Share limitations
      set forth in this Section 5.2, such limitations shall apply to the usage
      of shares of Stock or IDSs together, and they shall be counted for such
      purposes as if they were a single security of the Company.

      5.3 Performance-Based Compensation. Any Award under the Plan which is
intended to be Performance-Based Compensation shall be conditioned on the
achievement of one or more objective performance measures, to the extent
required by Code section 162(m) as may be determined by the Committee.

      (a) "Performance Measures" may be based on any one or more of the
      following: earnings (e.g., earnings before interest and taxes; earnings
      before interest, taxes, depreciation and amortization; or earnings per
      share); financial return ratios (e.g., return on investment; return on
      invested capital; return on equity; or return on assets); increase in
      revenue, operating or net cash flows; cash flow return on investment;
      total shareholder return; market share; net operating income, operating
      income or net income; debt load reduction; expense management; economic
      value added; stock price; distributions per Share; aggregate
      distributions; and strategic business objectives, consisting of one or
      more objectives based on meeting specific cost targets, business expansion
      goals, financing goals and goals relating to acquisitions or divestitures.
      Performance measures may be based on the performance of the Company as a
      whole or of any one or more business units of the Company and may be
      measured relative to a peer group or an index.

      (b) The terms of any such Award may provide that partial achievement of
      the Performance Measures may result in a payment or vesting based upon the
      degree of achievement.

      (c) In establishing any Performance Measures, the Committee may provide
      for the exclusion of the effects of the following items, to the extent
      identified in the audited financial statements of the Company, including
      footnotes, or in the Management Discussion and Analysis section of the
      Company's annual report: (i) extraordinary, unusual, and/or nonrecurring
      items of gain or loss; (ii) gains or losses on the disposition of a
      business; (iii) changes in tax or accounting principles, regulations or
      laws; or (iv) mergers or acquisitions. To the extent not specifically
      excluded, such effects shall be included in any applicable Performance
      Measure.

      5.4 General Restrictions. Delivery of Shares or other amounts under the
Plan shall be subject to the following:

            (a) Notwithstanding any other provision of the Plan, the Company
      shall have no obligation to deliver any Shares or make any other
      distribution of benefits under the Plan unless such delivery or
      distribution complies with all applicable laws (including, without
      limitation, the requirements of the Securities Act of 1933), and the
      applicable requirements of any securities exchange or similar entity.

                                      -7-

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            (b) To the extent that the Plan provides for issuance of
      certificates to reflect the issuance of Shares, the issuance may be
      effected on a non-certificated basis, to the extent not prohibited by
      applicable law or the applicable rules of any stock exchange.

      5.5 Tax Withholding. All distributions under the Plan are subject to
withholding of all applicable taxes, and the Committee may condition the
delivery of any shares or other benefits under the Plan on satisfaction of the
applicable withholding obligations. Except as otherwise provided by the
Committee, such withholding obligations may be satisfied (i) through cash
payment by the Participant; (ii) through the surrender of Shares which the
Participant already owns (provided, however, that to the extent shares described
in this clause (ii) are used to satisfy more than the minimum statutory
withholding obligation, as described below, then, except as otherwise provided
by the Committee, payments made with Shares in accordance with this clause (ii)
shall be limited to Shares held by the Participant for not less than six months
prior to the payment date); or (iii) through the surrender of Shares to which
the Participant is otherwise entitled under the Plan, provided, however, that
such Shares under this clause (iii) may be used to satisfy not more than the
Company's minimum statutory withholding obligation (based on minimum statutory
withholding rates for Federal and state tax purposes, including payroll taxes,
that are applicable to such supplemental taxable income).

      5.6 Grant and Use of Awards. In the discretion of the Committee, a
Participant may be granted any Award permitted under the provisions of the Plan,
and more than one Award may be granted to a Participant. Subject to subsection
2.5 (relating to repricing), Awards may be granted as alternatives to or
replacement of awards granted or outstanding under the Plan, or any other plan
or arrangement of the Company or a Subsidiary (including a plan or arrangement
of a business or entity, all or a portion of which is acquired by the Company or
a Subsidiary). Subject to the overall limitation on the number of Shares that
may be delivered under the Plan, the Committee may use available Shares as the
form of payment for compensation, grants or rights earned or due under any other
compensation plans or arrangements of the Company or a Subsidiary, including the
plans and arrangements of the Company or a Subsidiary assumed in business
combinations. Notwithstanding the provisions of subsection 2.2, Options and SARs
granted under the Plan in replacement for awards under plans and arrangements of
the Company or a Subsidiary assumed in business combinations may provide for
exercise prices that are less than the Fair Market Value of the Share at the
time of the replacement grants, if the Committee determines that such exercise
price is appropriate to preserve the economic benefit of the award.

      5.7 Dividends and Dividend Equivalents. An Award (including without
limitation an Option or SAR Award) may provide the Participant with the right to
receive dividend or dividend equivalent payments with respect to Share subject
to the Award (both before and after the Share subject to the Award is earned,
vested, or acquired), which payments may be either made currently or credited to
an account for the Participant, and may be settled in cash or additional Shares,
as determined by the Committee. Any such settlements, and any such crediting of
dividends or dividend equivalents or reinvestment in Shares, may be subject to
such conditions, restrictions and contingencies as the Committee shall
establish, including the reinvestment of such credited amounts in Share
equivalents.

                                      -8-

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      5.8 Privileges of Share Ownership. Except as otherwise specifically
provided in the Plan, no person shall be entitled to the privileges of ownership
in respect of Shares which are subject to Awards hereunder until such Shares
have been issued to that person.

      5.9 Settlement of Awards. The obligation to make payments and
distributions with respect to Awards may be satisfied through cash payments, the
delivery of Shares, the granting of replacement Awards, or combination thereof
as the Committee shall determine. Satisfaction of any such obligations under an
Award, which is sometimes referred to as "settlement" of the Award, may be
subject to such conditions, restrictions and contingencies as the Committee
shall determine. The Committee may permit or require the deferral of any Award
payment, subject to such rules and procedures as it may establish, which may
include provisions for the payment or crediting of interest or dividend
equivalents, and may include converting such credits into deferred Share
equivalents. Each Subsidiary shall be liable for payment of cash due under the
Plan with respect to any Participant to the extent that such benefits are
attributable to the services rendered for that Subsidiary by the Participant.
Any disputes relating to liability of a Subsidiary for cash payments shall be
resolved by the Committee.

      5.10 Transferability. Except as otherwise provided by the Committee,
Awards under the Plan are not transferable except as designated by the
Participant by will or by the laws of descent and distribution.

      5.11 Form and Time of Elections. Unless otherwise specified herein, each
election required or permitted to be made by any Participant or other person
entitled to benefits under the Plan, and any permitted modification, or
revocation thereof, shall be in writing filed with the Committee at such times,
in such form, and subject to such restrictions and limitations, not inconsistent
with the terms of the Plan, as the Committee shall require.

      5.12 Agreement With Company. An Award under the Plan shall be subject to
such terms and conditions, not inconsistent with the Plan, as the Committee
shall, in its sole discretion, prescribe. The terms and conditions of any Award
to any Participant shall be reflected in such form of written (including
electronic) document as is determined by the Committee. A copy of such document
shall be provided to the Participant, and the Committee may, but need not
require that the Participant sign a copy of such document. Such document is
referred to in the Plan as an "Award Agreement" regardless of whether any
Participant signature is required.

      5.13 Action by Company or Subsidiary. Any action required or permitted to
be taken by the Company or any Subsidiary shall be by resolution of its board of
directors, or by action of one or more members of the board (including a
committee of the board) who are duly authorized to act for the board, or (except
to the extent prohibited by applicable law or applicable rules of any stock
exchange) by a duly authorized officer of such company.

      5.14 Gender and Number. Where the context admits, words in any gender
shall include any other gender, words in the singular shall include the plural
and the plural shall include the singular.

      5.15 Limitation of Implied Rights.

                                      -9-

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            (a) Neither a Participant nor any other person shall, by reason of
      participation in the Plan, acquire any right in or title to any assets,
      funds or property of the Company or any Subsidiary whatsoever, including,
      without limitation, any specific funds, assets, or other property which
      the Company or any Subsidiary, in its sole discretion, may set aside in
      anticipation of a liability under the Plan. A Participant shall have only
      a contractual right to the Shares or amounts, if any, payable under the
      Plan, unsecured by any assets of the Company or any Subsidiary, and
      nothing contained in the Plan shall constitute a guarantee that the assets
      of the Company or any Subsidiary shall be sufficient to pay any benefits
      to any person.

            (b) The Plan does not constitute a contract of employment, and
      selection as a Participant will not give any participating employee the
      right to be retained in the employ of the Company or any Subsidiary, nor
      any right or claim to any benefit under the Plan, unless such right or
      claim has specifically accrued under the terms of the Plan. Except as
      otherwise provided in the Plan, no Award under the Plan shall confer upon
      the holder thereof any rights as a shareholder of the Company prior to the
      date on which the individual fulfills all conditions for receipt of such
      rights.

      5.16 Evidence. Evidence required of anyone under the Plan may be by
certificate, affidavit, document or other information which the person acting on
it considers pertinent and reliable, and signed, made or presented by the proper
party or parties.

      5.17 Payments to Persons Other Than Participants. If the Committee shall
find that any person to whom any amount is payable under the Plan is unable to
care for his affairs because of illness or accident, or is a minor, or has died,
then any payment due to such person or his estate (unless a prior claim therefor
has been made by a duly appointed legal representative) may, if the Committee so
directs the Company, be paid to his spouse, child, relative, an institution
maintaining or having custody of such person, or any other person deemed by the
Committee to be a proper recipient on behalf of such person otherwise entitled
to payment. Any such payment shall be a complete discharge of the liability of
the Committee and the Company therefor.

      5.18 Governing Law. The Plan shall be governed by and construed in
accordance with the internal laws of the State of New York, without regard to
the conflict of law provisions of any jurisdiction.

      5.19 Severability. If any provision of the Plan or any Award agreement is
or becomes or is deemed to be invalid, illegal, or unenforceable in any
jurisdiction or as to any person or Award, or would disqualify the Plan or any
Award under any law deemed applicable by the Committee, such provision shall be
construed or deemed amended to conform to the applicable laws, or if it cannot
be construed or deemed amended without, in the determination of the Committee,
materially altering the intent of the Plan or the Award, such provision shall be
stricken as to such jurisdiction, person or Award and the remainder of the Plan
and any such Award shall remain in full force and effect.

                                      -10-

<PAGE>

                                    SECTION 6

                                CHANGE IN CONTROL

      6.1 Subject to the provisions of paragraph 5.2(f) (relating to the
adjustment of shares), and except as otherwise provided in the Plan or the Award
Agreement reflecting the applicable Award:

            (a) If a Participant who is employed by (or a director of or
      consultant to) the Company or an Affiliate at the time of a Change in
      Control then holds one or more outstanding Options, all such Options
      (regardless of whether in tandem with SARs) then held by the Participant
      shall become fully exercisable on and after the date of the Change in
      Control (subject to the expiration provisions otherwise applicable to the
      Options), and any Shares purchased by the Participant under such Option
      following such Change in Control shall be fully vested upon exercise.

            (b) If a Participant who is employed by the Company or an Affiliate
      at the time of a Change in Control then holds one or more outstanding
      SARs, all such SARs (regardless of whether in tandem with Options) then
      held by the Participant shall become fully exercisable on and after the
      date of the Change in Control (subject to the expiration provisions
      otherwise applicable to the SARs), and any cash or stock acquired by the
      Participant under such SAR following such Change in Control shall be fully
      vested upon exercise.

            (c) If a Participant who is employed by the Company or an Affiliate
      at the time of a Change in Control then holds one or more Full Value
      Awards or Cash Incentive Awards, such Awards shall become fully vested on
      the date of the Change in Control; provided that, if the amount of the
      award or the vesting is to be determined based on the level of performance
      achieved, the target level of performance shall be deemed to have been
      achieved.

                                   SECTION 7

                                    COMMITTEE

      7.1 Administration. The authority to control and manage the operation and
administration of the Plan shall be vested in a committee (the "Committee") in
accordance with this Section 7. The Committee shall be selected by the Board
and, at any time after the common equity securities of the Company are publicly
traded, shall consist solely of two or more members of the Board who are not
employees of the Company or any Subsidiary. If the Committee does not exist, or
for any other reason determined by the Board, and to the extent not prohibited
by applicable law or the applicable rules of any stock exchange, the Board may
take any action under the Plan that would otherwise be the responsibility of the
Committee.

      7.2 Powers of Committee. The Committee's administration of the Plan shall
be subject to the following:

                                      -11-

<PAGE>

            (a) Subject to the provisions of the Plan, the Committee will have
      the authority and discretion to select from among the Eligible Individuals
      those persons who shall receive Awards, to determine the time or times of
      receipt, to determine the types of Awards and the number of shares covered
      by the Awards, to establish the terms, conditions, performance criteria,
      restrictions, and other provisions of such Awards, and (subject to the
      restrictions imposed by Section 8) to amend, cancel, or suspend Awards.

            (b) To the extent that the Committee determines that the
      restrictions imposed by the Plan preclude the achievement of the material
      purposes of the Awards in jurisdictions outside the United States, the
      Committee will have the authority and discretion to modify those
      restrictions as the Committee determines to be necessary or appropriate to
      conform to applicable requirements or practices of jurisdictions outside
      of the United States.

            (c) The Committee will have the authority and discretion to
      interpret the Plan, to establish, amend, and rescind any rules and
      regulations relating to the Plan, to determine the terms and provisions of
      any Award Agreement made pursuant to the Plan, and to make all other
      determinations that may be necessary or advisable for the administration
      of the Plan.

            (d) The Committee will have the authority and discretion to
      establish, amend and terminate any sub-plan or program under the Plan,
      that is not inconsistent with the terms of the Plan, at any time and from
      time to time.

            (e) Any interpretation of the Plan by the Committee and any decision
      made by it under the Plan is final and binding on all persons.

            (f) In controlling and managing the operation and administration of
      the Plan, the Committee shall take action in a manner that conforms to the
      articles and by-laws of the Company, and applicable state corporate law.

      7.3 Delegation by Committee. Except to the extent prohibited by applicable
law or the applicable rules of a stock exchange, the Committee may allocate all
or any portion of its responsibilities and powers to any one or more of its
members and may delegate all or any part of its responsibilities and powers to
any person or persons selected by it. Any such allocation or delegation may be
revoked by the Committee at any time.

      7.4 Information to be Furnished to Committee. The Company and Subsidiaries
shall furnish the Committee with such data and information as it determines may
be required for it to discharge its duties. The records of the Company and
Subsidiaries as to an employee's or Participant's employment, termination of
employment, leave of absence, reemployment and compensation shall be conclusive
on all persons unless determined to be incorrect. Participants and other persons
entitled to benefits under the Plan must furnish the Committee such evidence,
data or information as the Committee considers desirable to carry out the terms
of the Plan.

      7.5 Committee Liability. No member of the Committee shall be liable for
any action or determination made in good faith with respect to the Plan or any
Award hereunder.

                                      -12-

<PAGE>

                                   SECTION 8

                            AMENDMENT AND TERMINATION

      The Board may, at any time, amend or terminate the Plan, and the Board or
the Committee may amend any Award Agreement or cancel any Award thereto for
granted, prospectively or retroactively, provided that no amendment,
cancellation or termination may, in the absence of written consent to the change
by the affected Participant (or, if the Participant is not then living, the
affected beneficiary), adversely affect the rights of any Participant or
beneficiary under any Award granted under the Plan prior to the date such
amendment is adopted by the Board (or the Committee, if applicable); and further
provided that adjustments pursuant to paragraph 5.2(f) shall not be subject to
the foregoing limitations of this Section 8; and further provided, that the
provisions of subsection 2.5 (relating to Option repricing) cannot be amended
unless the amendment is approved by the Company's stockholders; and further
provided, that no such amendment or termination shall be made without
shareholder approval if such approval is necessary to comply with any tax or
regulatory requirement applicable to the Plan (including as necessary to comply
with any applicable stock exchange listing requirement or to prevent the Company
from being denied a tax deduction on account of Section 162(m) of the Code).

                                   SECTION 9

                                  DEFINED TERMS

      In addition to the other definitions contained herein, the following
definitions shall apply:

            (a) Award. The term "Award" means any, individually or collectively,
      award or benefit granted under the Plan, including, without limitation,
      the grant of Options, SARs, Full Value Awards, and Cash Incentive Awards.

            (b) Board. The term "Board" means the Board of Directors of the
      Company.

            (c) Change in Control. Except as otherwise provided by the Committee
      in an Award Agreement, the term "Change in Control" shall mean
      [__________].

      Notwithstanding the foregoing, a public offering of common stock by the
      Company pursuant to a registration statement shall not constitute a Change
      in Control.

            (d) Code. The term "Code" means the Internal Revenue Code of 1986,
      as amended. A reference to any provision of the Code shall include
      reference to any successor provision of the Code.

            (e) Eligible Individual. For purposes of the Plan, the term
      "Eligible Individual" means any employee of the Company or a Subsidiary,
      and any consultant, director, or other person or entity providing services
      to the Company or a Subsidiary; provided, however, that an ISO may only be
      granted to an employee of the Company or a Subsidiary. An Award, other
      than an ISO, may be granted to an employee or other individual or entity
      providing services, in connection with hiring, retention or otherwise,
      prior to the date the employee first performs services for the Company or
      the

                                      -13-

<PAGE>

      Subsidiaries, provided that such Awards shall not become vested prior to
      the date the employee or service provider first performs such services.

            (f) Fair Market Value. Except as otherwise provided by the
      Committee, for purposes of determining the "Fair Market Value" of a Share
      as of any date, the following rules shall apply:

                  (i) If the principal market for the Share is a national
            securities exchange or the Nasdaq stock market, then the "Fair
            Market Value" as of that date shall be the average of the lowest and
            highest reported sale prices of a Share on that date on the
            principal exchange or market on which the Share is then listed or
            admitted to trading.

                  (ii) If sale prices are not available or if the principal
            market for the Share is not a national securities exchange and the
            Share is not quoted on the Nasdaq stock market, then the "Fair
            Market Value" as of that date shall be the average of the highest
            bid and lowest asked prices for the Stock on such day as reported on
            the Nasdaq OTC Bulletin Board Service or by the National Quotation
            Bureau, Incorporated or a comparable service.

                  (iii) If the day is not a business day, and as a result,
            paragraphs (i) and (ii) above are inapplicable, the Fair Market
            Value of a Share shall be determined as of the next earlier business
            day. If paragraphs (i) and (ii) above are otherwise inapplicable,
            then the Fair Market Value of the Share shall be determined in good
            faith by the Committee.

                  (iv) Notwithstanding the foregoing, the Fair Market Value for
            awards granted as of the Effective Date shall be as determined in
            good faith by the Committee.

            (g) Performance-Based Compensation. The term "Performance-Based
      Compensation" shall have the meaning ascribed to it under Code section
      162(m) and the regulations thereunder.

            (h) Share. The term "Share" means, interchangeably under the
      provisions of this Plan, a share of Class A common stock, par value $0.01,
      of the Company, or an Income Depository Security of the Company ("IDS").

            (i) Subsidiary. The term "Subsidiary" means any company during any
      period in which it is a "subsidiary corporation" (as that term is defined
      in Code section 424(f)) with respect to the Company.

                                      -14-<PAGE>

                                                                   EXHIBIT 10.38

                             COINMACH SERVICE CORP.
                          2004 UNIT INCENTIVE SUB-PLAN

                        UNDER THE COINMACH SERVICE CORP.
                          2004 LONG-TERM INCENTIVE PLAN

Purpose of 2004 Unit Incentive Sub-Plan

      The purpose of the Coinmach Service Corp. 2004 Unit Incentive Sub-Plan
(the "Plan") is to enable Coinmach Service Corp. (the "Company") to strengthen
the mutuality of interests between employees of the Company and its Subsidiaries
and the Company's Unitholders by providing long-term performance-based
compensation incentives. Any benefits provided pursuant to this Plan shall be
provided under the Coinmach Service Corp. 2004 Long-Term Incentive Plan (the
"2004 LTIP").

1.    Defined Terms

      1.1   In this Plan, the following terms have the following meanings, or as
defined in the 2004 LTIP:

            "Actual Distribution Per Unit" means, for the applicable Fiscal
      Year, the quotient of (x) the Aggregate Distribution Amount in respect of
      such Fiscal Year, divided by (y) the average number of Units outstanding
      in such Fiscal Year (calculated by adding the number of Units issued and
      outstanding at the end of each calendar month ending in such Fiscal Year
      and dividing such sum by the number of calendar months ending in such
      Fiscal Year).

            "Affiliate" means, with respect to any Person, any other Person that
      directly, or through one or more intermediaries, controls or is controlled
      by or is under common control with such Person.

            "Aggregate Distribution Amount" in respect of any given Fiscal Year
      means the aggregate amount of the Distributions.

            "Applicable Laws" means all applicable provisions of law, domestic
      or foreign, including, without limitation, the United States Securities
      Act of 1933, as amended (the "Securities Act") and the United States
      Securities Exchange Act of 1934, as amended (the "Exchange Act"), together
      with all regulations, rules, policy statements, rulings, notices, orders
      or other instruments promulgated thereunder and Stock Exchange Rules.

            "Base Distribution Per Unit" means, for each fiscal year of the
      Company, an Actual Distribution Per Unit equal to an amount established by
      the Committee in its sole discretion.

            "Beneficiary" means any person designated by a Participant by
      written instrument filed with the Company to receive any amount,
      securities or property payable under the Plan in the event of a
      Participant's death or, failing any such effective designation, the
      Participant's estate as provided herein.
<PAGE>
            "Cause" means (i) if the applicable Participant is party to an
      effective employment agreement with the Company or any of its
      Subsidiaries, "Cause" shall have the same meaning as such term is defined
      therein; (ii) if the applicable Participant is not a party to an effective
      employment agreement but is a party to an effective equity award agreement
      pursuant to any stock incentive plan of the Company, "Cause" shall have
      the same meaning as such term is defined therein; and (iii) if the
      applicable Participant is not a party to any such effective agreements,
      "Cause" shall exist if the Participant (A) commits an intentional act of
      fraud, embezzlement or theft in connection with his duties or in the
      course of his employment, (B) commits intentional, wrongful damage to
      property of the Company or its affiliates, (C) fails to perform the
      material duties of his position after receipt of a written warning from
      the Company, (D) is convicted of a felony, (E) violates Company policy, or
      (F) intentionally and wrongfully discloses confidential information of the
      Company or its affiliates that has been harmful to or has adversely
      affected the Company or its affiliates. For purposes of this letter, no
      act on the Participant's part shall be considered "intentional" if it was
      due primarily to an error in judgment or negligence, but shall be
      considered intentional only if done by the Participant not in good faith
      and without reasonable belief that such action or omission was in the best
      interests of the Company.

            "Committee" means the Committee as established under the 2004 LTIP.

            "Company" means Coinmach Service Corp. and its successors.

            "Distributions" means all distributions of cash (including interest
      and dividends), securities and other property made form time to time in
      respect of outstanding Units made to Unitholders of the Company.

            "Effective Date" means the closing date of the Offering.

            "Eligible Person" means an executive officer or other senior
      employee of the Company or one of its Subsidiaries.

            "Excess" for a given Fiscal Year means the amount determined by
      multiplying the Excess Per Unit for such Fiscal Year times the average
      number of Units issued and outstanding during such Fiscal Year (calculated
      by adding the number of Units issued and outstanding at the end of each
      calendar month ending in such Fiscal Year and dividing such sum by the
      number of calendar months ending in such Fiscal Year).

            "Excess Per Unit" in a Fiscal Year means the amount by which the
      Actual Distribution Per Unit in that Fiscal Year exceeds the Base
      Distribution Per Unit in respect of such Fiscal Year.

            "Fiscal Year" means any fiscal year of the Company and its
      Subsidiaries, as in existence from time to time and reported in the
      Company's annual reports.

            "Initial Performance Period" means the period beginning on the
      Effective Date and ending on the last day of the Fiscal Year ending March
      31, 2005.

            "Offering" means the initial public offering of the Units as
      described in the Prospectus.

                                       2
<PAGE>
            "Performance Period" means any measurement period established by the
      Committee.

             "Person" means an individual, corporation, limited liability
      company, partnership, association, trust, unincorporated organization,
      other entity or group (as defined in the Exchange Act).

            "Plan" means this Coinmach Service Corp. 2004 Unit Incentive
      Sub-Plan, as amended from time to time.

            "Prescribed Portion" means, for the Initial Performance Period, and
      each Performance Period thereafter, the Prescribed Percentage of the
      Excess.

            "Prescribed Percentage" means the percentage set forth in the
      following table, unless otherwise adjusted in the sole discretion of the
      Committee:

<TABLE>
<CAPTION>
           Percentage Excess of Actual
         Distribution Per Unit over Base
       Distribution Per Unit For Applicable      Prescribed Percentage
                Performance Period
<S>                                              <C>

                     0% - 5%                              10%
        Greater than 5%, but less than 10%                15%
                  10% or greater                          20%
</TABLE>

            "Prospectus" means the (final) Prospectus filed as the Company's
      Form S-1 Registration Statement under the Securities Act providing for the
      Offering, and includes any amendment or amendments thereof.

            "Stock Exchange Rules" means the applicable rules of the Stock
      Exchange.

            "Stock Exchange" means the applicable principal stock exchange or
      market upon which the Units are listed or posted for trading.

            "Subsidiary" means any Company during any period in which it is a
      "subsidiary corporation" (as that term is defined in Code section 424(f))
      with respect to the Company.

            "Units" means the Income Depository Securities ("IDSs") offered to
      the public pursuant to the Prospectus (or such other securities as the
      IDSs may convert into or be exchanged for).

            "Unit Value" means, per Unit, on any given day (i) the closing
      trading price of the Units as reported on the Stock Exchange on such day
      or (ii) if the closing trading price is not available for the Units on
      such date, then the next preceding practicable date for which such closing
      trading price is available.

                                       3
<PAGE>
2.    Administration of the Plan.   The Committee, as defined in the 2004

LTIP, shall administer the Plan in accordance with its provisions.

3.    Powers of the Company.

      3.1   The Committee shall have the absolute power and discretion to
determine:

            (a)   the Eligible Persons who will be eligible to receive payments
                  under the Plan;

            (b)   the rights of each Participant, if any;

            (c)   the Base Distribution Per Unit;

            (d)   the Performance Period;

            (e)   when, if ever, any amounts or benefits are paid or distributed
                  under the Plan;

            (f)   when, if ever, amounts shall be paid in cash, units, or the
                  combination thereof;

            (g)   modify, or replace the performance targets with any of the
                  Performance Measures under the 2004 LTIP; and

            (h)   such other terms or conditions that the Committee may, in its
                  sole discretion, determine.

      3.2 In making its determinations pursuant to Section 3.1(a), the Committee
may take into account the Participant's level of responsibility, rate of
compensation, individual performance and contribution, and such other criteria
as it deems appropriate in assessing the value of the Participant's service.
Notwithstanding the foregoing, the maximum amount (in cash or Unit Value payable
in Units) that any one Participant is entitled to receive with respect to any
Performance Period may not exceed $100,000 for each month during such period,
subject to the individual limitations of the 2004 LTIP.

      3.3 The Committee is not obligated to allocate any amounts to any specific
individual, to allocate any amounts at all, or to continue to allocate any
amounts to any Eligible Person once such allocations have commenced. Neither the
designation of an individual as a Participant nor the prior allocation of any
amounts to any Participant entitles any Participant to any additional allocation
under the Plan.

4.    Operation of the Plan

      4.1 For each Performance Period as established by the Committee, the
Prescribed Portion shall be available to the Committee to distribute or
otherwise allocate to some, all or none of the Participants. To the extent that
the entire Prescribed Portion is not distributed pursuant to the foregoing, the
undistributed amounts shall be added to the Prescribed Portion for the following
Performance Period. The Committee shall be under no obligation to make any

                                       4
<PAGE>
payments hereunder for any Performance Period, regardless if amounts are
calculated and/or carried from one Performance Period to the next.

      4.2 As a condition of participating in the Plan, each Participant agrees
to comply with all such Applicable Laws and agrees to furnish to the Company all
information and undertakings as may be required to permit compliance with such
Applicable Laws.

      4.3 In the event that any amounts are to be paid to the Participants in
Units, the Company shall immediately transfer such Units to such Participant
through the book-entry system maintained by the Company's transfer agent.

      4.4 The Company shall withhold from any payments hereunder all taxes and
other assessments, if any, required by Applicable Law to be withheld.

      4.5 Any Shares (as defined in the 2004 LTIP) awarded to, or subject to,
awards granted to Participants under this Plan shall be issued pursuant to the
2004 LTIP, subject to all of the terms and conditions therein. Except in the
event of conflict, all provisions of the 2004 LTIP shall apply to this Plan. In
the event of any conflict between the provisions of the 2004 LTIP and this Plan,
this Plan shall control, provided that any awards granted herein may not exceed
the limitations set forth in the 2004 LTIP.

5.    Fundamental Changes and Adjustments

      5.1 In the event of any corporate transaction to which Section 5.2(f) of
the 2004 LTIP applies, any performance criteria, outstanding award agreements,
if any, or other features of the Plan, may be appropriately and equitably
adjusted or substituted by the Committee, in order to not enlarge or diminish
the rights or interests of the Participant's hereunder.

      5.2 To the extent applicable (in connection with Section 5.1 or
otherwise), the Committee shall give effect to adjustments in the number of
Units if any, payable hereunder resulting from subdivisions, consolidations or
reclassifications of the Units, or other relevant changes, to the Units or
capital structure of the Company. The appropriate adjustment in any particular
circumstance shall be conclusively determined by the Committee in its sole
discretion, subject to acceptance by the Stock Exchange, if applicable. If any
such adjustment would entitle a Participant to a fractional Unit, the Committee
will have the right to deliver only an adjusted number of full Units, rounded
downward to the next whole Unit, and no payment or other adjustment will be made
with respect to the disregarded fractional Unit.

6.    Termination of Employment

      6.1 If a Participant ceases to be an Eligible Person as a result of (i)
the resignation of such Participant or (ii) the termination of such Participant
with Cause by the Company or its Subsidiaries, then, unless otherwise provided
by the Committee, the Participant shall have no right or interest to any payment
hereunder for any Performance Period.

      6.2 If a Participant ceases to be an Eligible Person as a result of the
death or disability (as defined in the Company's long-term disability plan as
may be in effect from time to time) of such Participant, then such Participant
may, in the sole and absolute discretion of the Committee, receive a pro rata
payment for the portion of the Performance Period preceding the date of
separation.

                                       5
<PAGE>
      6.3 If a Participant ceases to be an Eligible Person as a result of the
termination without Cause (other than due to disability) by the Company or its
Subsidiaries, then such Participant may, in the sole and absolute discretion of
the Committee, receive a pro rata payment for the portion of the Performance
Period preceding the date of separation.

      6.4 The Company may enter in agreements with Participants to provide
rights upon a termination of employment that differ from the provisions set
forth in Sections 6.1, 6.2 and/or 6.3.

7.    Amendment or Termination of Plan

      7.1 The Committee may amend, suspend or terminate the Plan at any time,
subject to the receipt of any required regulatory approvals and, where required
by applicable law (whether pursuant to Stock Exchange Rules or in order to cause
any amounts payable under this Plan to be fully deductible by the Company and
its Subsidiaries pursuant to Section 162(m) of the Code), subject to approval by
the equityholders of the Company.

      7.2 No amendment, suspension or termination may, in the absence of written
consent to the change by the affected Participant (or, if the Participant is not
then living, the affected beneficiary), adversely affect the rights, if any, of
any Participant or beneficiary under any award granted under the Plan prior to
the date such amendment is adopted by the Committee.

8.    Rights of Participants

      8.1 Nothing contained herein shall be deemed to create a trust of any kind
or any fiduciary relationship between the Company and any Participant. To the
extent that any Participant acquires a right to receive payments from the
Company under the Plan pursuant to the declaration of a payment to such
Participant by the Committee, such right shall be no greater than the right of
any unsecured general creditor of the Company.

      8.2 The interest of any Participant under the Plan or in any payment shall
not be transferable or alienable by him or her either by pledge, assignment or
in any other manner, and after his or her lifetime shall enure to the benefit of
and be binding upon the Participant's Beneficiary, if any.

      8.3 Unless otherwise provided by the Committee, the transfer of a
Participant's employment from (a) the Company to an Affiliate of the Company,
(b) an Affiliate of the Company to the Company, or (c) an Affiliate of the
Company to another Affiliate of the Company, in any such case shall not be
considered a termination of employment for the purposes of the Plan, nor shall
it be considered a termination of employment if a Participant is placed on such
other leave of absence which is considered by the Committee as continuing intact
the employment relationship; in such a case, the employment relationship shall
be continued until the later of the date when the leave equals ninety days or
the date when a Participant's right to re-employment shall no longer be
guaranteed by contract, if applicable, except that in the event active
employment is not renewed at the end of the leave of absence, the employment
relationship shall be deemed to have ceased at the beginning of the leave of
absence.

9.    Miscellaneous

                                       6
<PAGE>
      9.1 No member of the Board (including any member of the Board in his or
her capacity as a member of the Committee) shall be liable for any action or
determination made in good faith in connection with the Plan and all members of
the Board shall be entitled to indemnification and reimbursement from the
Company in respect of any claim relating thereto.

      9.2 If any provision of this Plan is determined to be invalid or
unenforceable in whole or in part, such invalidity or unenforceability shall
attach only to such provision or part thereof and the remaining part, if any, of
such provision and all other provisions hereof shall continue in full force and
effect.

      9.3 The holding of any right or interest hereunder does not affect the
right of the Company or any Subsidiary thereof to terminate, at any time, the
employment of, or their relationship with, the Participant. Neither any period
of notice, nor any payment in lieu thereof, upon termination of employment shall
be considered as extending the period of employment for the purposes of the
Plan.

      9.4 This Plan shall be construed and interpreted in accordance with the
laws of the State of New York.

10.   Effective Date of Plan and Term of Plan

      10.1 The Plan shall take effect on the Effective Date, subject to approval
of this Plan by the Company's shareholders.

      10.2 The Plan shall expire, unless earlier terminated pursuant to Section
7, on the tenth anniversary of the Effective Date.

                                       7

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