Document:

Unassociated Document

    Exhibit
10.40

    

    AMENDED
AND RESTATED INDEMNIFICATION AGREEMENT

    

    THIS
AMENDED AND RESTATED INDEMNIFICATION AGREEMENT is made, entered into and
effective as of the 1st day of
October 2009, by and between EPOCH HOLDING CORPORATION, a Delaware corporation
(the "Company"), and the undersigned (the "Indemnitee") and replaces any prior
Indemnification Agreement by and among the Company and the
Indemnitee.

    

    RECITALS

    

    WHEREAS,
the Indemnitee is the _______________ of the Company; and

    

    WHEREAS,
the Company and the Indemnitee recognize the continued difficulty in obtaining
liability insurance for its directors, officers, employees, agents and
fiduciaries, the significant increases in the cost of such insurance and the
general reductions in the coverage of such insurance; and

    

    WHEREAS,
the Company and the Indemnitee further recognize the substantial increase in
corporate litigation in general, subjecting directors, officers, employees,
agents and fiduciaries to expensive litigation risks at the same time as the
availability and coverage of liability insurance has been severely limited;
and

    

    WHEREAS,
the Indemnitee does not regard the current protection available as adequate
under the present circumstances, and the Indemnitee and other directors,
officers, employees, agents and fiduciaries of the Company may not be willing to
continue to serve in such capacities without additional protection;
and

    

    WHEREAS,
the Company desires to attract and retain the services of highly qualified
individuals, such as the Indemnitee, to serve the Company and, in part, in order
to induce the Indemnitee to continue to provide services to the Company, wishes
to provide for the indemnification and advancing of expenses to the Indemnitee
to the maximum extent permitted by law;

    

    WHEREAS,
Section 145 of the Delaware General Corporation Law (the “Statute”) specifically
provides that indemnification provided by the Statute is not exclusive;
and

    

    WHEREAS,
in view of the considerations set forth above, the Company desires that the
Indemnitee be indemnified by the Company to the fullest extent permitted by law
as set forth herein;

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    NOW,
THEREFORE, in consideration of the foregoing, the covenants contained herein and
the Indemnitee's continued service to the Company, the Company and the
Indemnitee, intending to be legally bound, hereby agree as follows:

     

    1. Indemnification.

    

    (a) Indemnification of
Expenses.  The Company shall indemnify Indemnitee to the
fullest extent permitted by law if Indemnitee is or becomes a party to or
witness or other participant in, or is threatened to be made a party to or
witness or other participant in, any threatened, pending or completed action,
suit, proceeding or alternative dispute resolution mechanism, or any hearing,
inquiry or investigation that Indemnitee in good faith believes might lead to
the institution of any such action, suit, proceeding or alternative dispute
resolution mechanism, whether civil, criminal, administrative, investigative or
other (hereinafter a "Claim") by reason of (or arising in part out of) any event
or occurrence related to the fact that Indemnitee is or was a director, officer,
employee, agent or fiduciary of the Company, or any subsidiary of the Company,
or is or was serving at the request of the Company as a director, officer,
employee, agent or fiduciary of another corporation, partnership, joint venture,
employee benefit plan, trust or other enterprise, or by reason of any action or
inaction on the part of Indemnitee while serving in such capacity (hereinafter
an "Indemnifiable Event") against any and all expenses incurred by or on behalf
of Indemnitee (including attorneys' fees and all other costs, expenses and
obligations incurred in connection with investigating, defending, being a
witness in or participating in (including on appeal), or preparing to defend, be
a witness in or participate in, any such action, suit, proceeding, alternative
dispute resolution mechanism, hearing, inquiry or investigation), costs of
supersedes and other appeal bonds, judgments, fines, penalties and amounts paid
in settlement (if such settlement is approved in advance by the Company, which
approval shall not be unreasonably withheld or delayed) of such Claim and any
federal, state, local or foreign taxes imposed on Indemnitee as a result of the
actual or deemed receipt of any payments under this Agreement (collectively,
hereinafter "Expenses"), including all interest, assessments and other charges
paid or payable in connection with or in respect of such Expenses. The Company
shall make such payment of Expenses as soon as practicable but in any event no
later than ten (10) days after written demand by Indemnitee therefor is
presented to the Company.

    

    (b) Change in
Control.

    

    (i)  Determination.  The
Company agrees that if there is a Change in Control (as defined in Section 9(c)
hereof) of the Company (other than a Change in Control which has been approved
by a majority of the Company's Board of Directors who were directors immediately
prior to such Change in Control) then, with respect to all matters thereafter
arising concerning the rights of Indemnitee to payments of Expenses and Expense
Advances under this Agreement or any other agreement or under the Company's
Articles of Incorporation or Bylaws as now or hereafter in effect, Independent
Legal Counsel (as defined in Section 9(d) hereof) shall be selected by
Indemnitee and approved by the Company (which approval shall not be unreasonably
withheld or delayed). Such counsel, among other things, shall render its written
opinion to the Company’s Board of Directors and Indemnitee as to whether and to
what extent Indemnitee would be permitted to be indemnified under applicable law
and the Company agrees to abide by such opinion. The Company agrees to pay the
reasonable fees of the Independent Legal Counsel referred to above and to fully
indemnify such counsel against any and all expenses (including attorneys' fees),
claims, liabilities and damages arising out of or relating to this Agreement or
its engagement pursuant hereto.

     

    
      
        
        

      

      
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    (ii)  Potential Change in
Control.  Following the occurrence of any Potential Change in
Control (as defined in Section 9(e)), the Company, upon receipt of a written
request from Indemnitee, shall create a Trust (the "Trust") for the benefit of
Indemnitee, the trustee of which shall be a bank or similar financial
institution with trust powers chosen by Indemnitee.  From time to
time, upon the written request of Indemnitee, the Company shall fund the Trust
in amounts sufficient to satisfy any and all Expenses reasonably anticipated at
the time of each such request to be incurred by Indemnitee for which
indemnification may be available under this Agreement.  The amount or
amounts to be deposited in the Trust pursuant to the foregoing funding
obligation shall be determined by mutual agreement of Indemnitee and the Company
or, if the Company and Indemnitee are unable to reach such an agreement or, in
any event, a Change in Control has occurred, by Independent Legal Counsel
(selected pursuant to Section 1(b)(i)).  The terms of the Trust shall
provide that, except upon the prior written consent of Indemnitee and the
Company, (a) the Trust shall not be revoked or that principal thereof
invaded, other than to make payments to unsatisfied judgment creditors of the
Company, (b) the Trust shall continue to be funded by the Company in
accordance with the funding obligations set forth in this Section, (c) the
Trustee shall promptly pay or advance to Indemnitee any amounts to which
Indemnitee shall be entitled pursuant to this Agreement, and (d) all
unexpended funds in the Trust shall revert to the Company upon a determination
by Independent Legal Counsel (selected pursuant to Section 1(b)(i)) or a
court of competent jurisdiction that Indemnitee has been fully indemnified under
the terms of this Agreement.  All income earned on the assets held in
the trust shall be reported as income by the Company for federal, state, local
and foreign tax purposes.

    

    (iii)  Expenses.  Following
any Change in Control, the Company shall be liable for and shall pay the
Expenses paid or incurred by Indemnitee in connection with the making of any
determination (irrespective of the determination as to the Indemnitee's
entitlement to indemnification) or the prosecution of any Claim pursuant to
Section 8.2, and the Company hereby agrees to indemnify and hold Indemnitee
harmless therefrom.  If requested by counsel for Indemnitee, the
Company shall promptly give such counsel an appropriate written agreement with
respect to the payment of its fees and expenses and such other matters as may be
reasonably requested by such counsel.

    

    (c) Mandatory Payment of
Expenses. Notwithstanding any other provision of this Agreement other
than Section 8 hereof, to the extent that Indemnitee has been successful on the
merits or otherwise in defense of any proceeding referred to in Section 1(a) of
this Agreement, or in defense of any claims, issue or matter herein, including
dismissal without prejudice, Indemnitee shall be indemnified against all
Expenses actually and reasonably incurred by Indemnitee (or on his behalf) in
connection therewith. If Indemnitee is not wholly successful in any proceeding
referred to in Section 1(a) of this Agreement, but is successful on the merits
or otherwise (including dismissal without prejudice) as to one or more, but less
than all claims, issues or matters therein, including dismissal without
prejudice, Indemnitee shall be indemnified against all Expenses actually and
reasonably incurred by Indemnitee (or on his behalf) in connection with each
successfully resolved claim, issue or matter. For purposes of this Section 1(c),
and without limitation, the termination of any claim, issue or matter in any
proceeding referred to in Section 1 of this Agreement by dismissal, with or
without prejudice, shall be deemed to be a successful result as to such claim,
issue or matter.

     

    
      
        
        

      

      
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    (d)  Reimbursement of Expenses Following
Adjudication of Negligence.  To the fullest extent permitted by
applicable law, the Company shall reimburse the Indemnitee for any Expenses
(including attorneys' fees) and amounts actually and reasonably incurred or paid
by him in connection with the investigation, defense, settlement or appeal of
any action or suit described in Section 1(a) hereof that results in an
adjudication that the Indemnitee was liable for negligence, gross negligence or
recklessness (but not willful misconduct) in the performance of his duty to the
Company; provided, however, that the
Indemnitee acted in good faith and in a manner he believed to be in the best
interests of the Company.

    

    2. Expenses; Indemnification
Procedure.

    

    (a) Advancement of Expenses. To
the fullest extent permitted by applicable law, the Expenses incurred by
Indemnitee pursuant to Section 1(a) of this Agreement in connection with any
proceeding or any claim, issue or matter therein shall be paid by the Company in
advance (an "Expense Advance") of the final disposition of such proceeding or
any claim, issue or matter therein no later than 10 days after receipt by the
Company of an undertaking by or on behalf of Indemnitee ("Indemnitee
Undertaking") to repay such amount to the extent that it is ultimately
determined that Indemnitee is not entitled to be indemnified by the Company. The
Indemnitee Undertaking shall be in a form reasonably acceptable to the Company,
shall not be secured and shall be interest free.

    

    (b) Notice/Cooperation by
Indemnitee. Indemnitee shall, as a condition precedent to Indemnitee's
right to be indemnified under this Agreement, give the Company notice in writing
as soon as practicable of any Claim made against Indemnitee for which
indemnification will or could be sought under this Agreement. Notice to the
Company shall be directed to the Company’s Board of Directors at the address
shown on the signature page of this Agreement (or such other address as the
Company shall designate in writing to Indemnitee). In addition, Indemnitee shall
give the Company such information and cooperation as it may reasonably require
and as shall be within Indemnitee's power.

    

    (c) Reviewing Party. Upon written
request by Indemnitee for indemnification pursuant to Section 2(b) of this
Agreement, a determination, if required by applicable law, with respect to
Indemnitee's entitlement thereto shall be made in the specific case: (i) if a
Change in Control shall have occurred, in the manner set forth in Section 1(b)
of this Agreement; or (ii) if a Change in Control shall not have occurred, (A)
by a vote of the stockholders of the Company, (B) by the Company’s Board of
Directors by majority vote of a quorum consisting of directors who were not
parties to the action, suit or proceeding, (C) if a majority vote of a quorum
consisting of directors who were not parties to the action, suit or proceeding
so order, by Independent Legal Counsel in a written opinion to the Company’s
Board of Directors, or (D) if a quorum consisting of directors who were not
parties to the action, suit or proceeding cannot be obtained, by Independent
Legal Counsel in a written opinion to the Company’s Board of Directors, a copy
of which shall be delivered to Indemnitee; and, if so determined that Indemnitee
is entitled to indemnification, payment to Indemnitee shall be made within 10
days after such determination.

     

    
      
        
        

      

      
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    (d) Presumptions; Burden of Proof;
Effect of Certain Provisions.

    

    (i) In
making a determination with respect to entitlement to indemnification hereunder,
the person or persons or entity making such determination shall presume that
Indemnitee is entitled to indemnification under this Agreement if Indemnitee has
submitted a request for indemnification in accordance with Section 2(b) of this
Agreement, and the Company shall have the burden of proof in overcoming such
presumption by clear and convincing evidence. The termination of any Claim by
judgment, order, settlement (whether with or without court approval) or
conviction, or upon a plea of nolo contendere, or its
equivalent, shall not create a presumption that Indemnitee did not meet any
particular standard of conduct or have any particular belief or that a court has
determined that indemnification is not permitted by applicable law. Further,
neither the failure of the Company (including the Company’s Board of Directors
or Independent Legal Counsel) to have made a determination prior to the
commencement of such action pursuant to this Agreement that indemnification is
proper in the circumstances because Indemnitee has met the applicable standard
of conduct, nor an actual determination by the Company (including the Company’s
Board of Directors or Independent Legal Counsel) that Indemnitee has not met
such applicable standard of conduct, shall be a defense to the action or create
a presumption that Indemnitee has not met the applicable standard of
conduct.

    

    (ii) If
the person, persons or entity empowered or selected in accordance with the terms
of this Agreement to determine whether Indemnitee is entitled to indemnification
shall not have made a determination within 60 days after receipt by the Company
of the request therefor, the requisite determination of entitlement to
indemnification shall be deemed to have been made and Indemnitee shall be
entitled to such indemnification, absent (i) a misstatement by Indemnitee of a
material fact, or an omission of a material fact necessary to make Indemnitee's
statement not materially misleading, in connection with the request for
indemnification, or (ii) a prohibition of such indemnification under applicable
law; provided, however, that such 60-day period may be extended for a reasonable
time, not to exceed an additional 30 days, if the person, persons or entity
making the determination with respect to entitlement to indemnification in good
faith requires such additional time for the obtaining or evaluating of
documentation and/or information relating thereto; and provided, further, that
the foregoing provisions of this Section 2(d) shall not apply if the
determination of entitlement to indemnification is to be made by Independent
Counsel pursuant to the terms of this Agreement.

     

    
      
        
        

      

      
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    (iii) For
purposes of any determination of whether Indemnitee acted in good faith and in a
manner reasonably believed to be in or not opposed to the best interests of the
Company, and, with respect to any criminal proceeding, Indemnitee had no
reasonable cause to believe his conduct was unlawful (collectively, "Good
Faith"), Indemnitee shall be deemed to have acted in Good Faith if Indemnitee's
action is based on the records or books of account of the Company and any other
corporation, partnership, joint venture, trust, employee benefit plan or other
enterprise of which Indemnitee is or was serving at the request of the Company
as a director, officer, employee or agent ("Enterprise"), including financial
statements, or on information supplied to Indemnitee by the officers of any
Enterprise in the course of their duties, or on the advice of legal counsel for
the Enterprise or on information or records given or reports made to the
Enterprise by an independent certified public accountant or by an appraiser or
other expert selected with the reasonable care by the Enterprise. The provisions
of this Section 2(d) shall not be deemed to be exclusive or to limit in any way
the other circumstances in which the Indemnitee may be deemed to have met the
applicable standard of conduct set forth in this Agreement.

    

    (iv) The
knowledge and/or actions, or failure to act, of any director, officer, agent or
employee of the Enterprise shall not be imputed to Indemnitee for purposes of
determining the right to indemnification under this Agreement.

    

    (v)  If
a Change in Control shall have occurred, Indemnitee shall be entitled to a
rebuttable presumption that Indemnitee is entitled to indemnification under this
Agreement and the Company shall have the burden of proof in rebutting such
presumption.

    

    (e) Notice to
Insurers.  If, at the time of the receipt by the Company of a
notice of a Claim pursuant to Section 2(b) hereof, the Company has liability
insurance in effect which may cover such Claim, the Company shall give prompt
notice of the commencement of such Claim to the insurers in accordance with the
procedures set forth in the respective policies.  The Company shall
thereafter take all necessary or desirable action to cause such insurers to pay,
on behalf of Indemnitee, all amounts payable as a result of such action, suit,
proceeding, inquiry or investigation in accordance with the terms of such
policies.

     

    
      
        
        

      

      
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    (f) Selection of
Counsel.  In the event the Company shall be obligated hereunder
to pay the Expenses of any Claim, the Company, if appropriate, shall be entitled
to assume the defense of such Claim with counsel approved by Indemnitee, upon
the delivery to Indemnitee of written notice of its election so to do. After
delivery of such notice, approval of such counsel by Indemnitee and the
retention of such counsel by the Company, the Company will not be liable to
Indemnitee under this Agreement for any fees of counsel subsequently incurred by
Indemnitee with respect to the same Claim; provided that, (i) Indemnitee shall
have the right to employ Indemnitee's counsel in any such Claim at Indemnitee's
expense and (ii) if (A) the employment of counsel by Indemnitee has been
previously authorized by the Company, (B) Indemnitee shall have reasonably
concluded that there may be a conflict of interest between the Company and
Indemnitee in the conduct of any such defense, or (C) the Company shall not
continue to retain such counsel to defend such Claim, then the fees and expenses
of Indemnitee's counsel shall be at the expense of the Company.

    

    3. Additional Indemnification
Rights; Nonexclusivity.

    

    (a) Scope.  The Company
hereby agrees to indemnify Indemnitee to the fullest extent permitted by law,
notwithstanding that such indemnification is not specifically authorized by the
other provisions of this Agreement, the Company's Articles of Incorporation, the
Company's Bylaws or by statute. In the event of any change after the date of
this Agreement in any applicable law, statute or rule which expands the right of
a Delaware corporation to indemnify a member of the Company’s Board of Directors
or an officer, employee, agent or fiduciary, it is the intent of the parties
hereto that Indemnitee shall enjoy by this Agreement the greater benefits
afforded by such change. In the event of any change in any applicable law,
statute or rule which narrows the right of a Delaware corporation to indemnify a
member of the Company’s Board of Directors or an officer, employee, agent or
fiduciary, such change, to the extent not otherwise required by such law,
statute or rule to be applied to this Agreement, shall have no effect on this
Agreement or the parties' rights and obligations hereunder except as set forth
in Section 7(a) hereunder.

    

    (b) Nonexclusivity.  The
indemnification provided by this Agreement shall be in addition to any rights to
which Indemnitee may be entitled under the Company's Articles of Incorporation,
its Bylaws, any agreement, any vote of stockholders or disinterested directors,
the Statute, or otherwise. The indemnification provided under this Agreement
shall continue as to Indemnitee for any action taken or not taken while serving
in an indemnified capacity even though Indemnitee may have ceased to serve in
such capacity.

    

    (c)  Appeals;
Enforcement.

    

    (i)  In
the event that (a) a determination is made that Indemnitee shall not be
entitled to indemnification under this Agreement, (b) any determination to
be made by Independent Legal Counsel is not made within 90 days of receipt by
the Company of a request for indemnification pursuant to Section 2(b) or
(c) the Company fails to otherwise perform any of its obligations under
this Agreement (including, without limitation, its obligation to make payments
to Indemnitee following any determination made or deemed to have been made that
such payments are appropriate), Indemnitee shall have the right to commence a
Claim in any court of competent jurisdiction, as appropriate, to seek a
determination by the court, to challenge or appeal any determination which has
been made, or to otherwise enforce this Agreement.  If a Change of
Control shall have occurred, Indemnitee shall have the option to have any such
Claim conducted by a single arbitrator pursuant to the rules of the American
Arbitration Association.  Any such judicial proceeding challenging or
appealing any determination shall be deemed to be conducted de novo and without prejudice
by reason of any prior determination to the effect that Indemnitee is not
entitled to indemnification under this Agreement.  Any such Claim
shall be at the sole expense of Indemnitee except as provided in
Section 1(b)(iii).

     

    
      
        
        

      

      
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    (ii)  If
a determination shall have been made or deemed to have been made pursuant to
this Agreement that Indemnitee is entitled to indemnification, the Company shall
be bound by such determination in any judicial proceeding or arbitration
commenced pursuant to this Section 3(c), except if such indemnification is
unlawful.

    

    (iii)  The
Company shall be precluded from asserting in any judicial proceeding or
arbitration commenced pursuant to this Section 3(c) that the procedures and
presumptions of this Agreement are not valid, biding and enforceable and shall
stipulate in any such court or before any such arbitrator that the Company is
bound by all the provisions of this Agreement.  The Company hereby
consents to service of process and to appear in any such judicial or arbitration
proceedings and shall not oppose Indemnitee's right to commence any such
proceedings.

    

    4. No Duplication of
Payments.  The Company shall not be liable under this Agreement
to make any payment in connection with any Claim made against Indemnitee to the
extent Indemnitee has otherwise actually received payment (under any insurance
policy, Articles of Incorporation, Bylaw or otherwise) of the amounts otherwise
indemnifiable hereunder.

    

    5. Partial
Indemnification.  If Indemnitee is entitled under any provision
of this Agreement to indemnification by the Company for some or a portion of
Expenses incurred in connection with any Claim, but not, however, for all of the
total amount thereof, the Company shall nevertheless indemnify Indemnitee for
the portion of such Expenses to which Indemnitee is entitled.

    

    6. Liability
Insurance.  To the extent the Company maintains liability
insurance applicable to directors, officers, employees, agents or fiduciaries,
Indemnitee shall be covered by such policies in such a manner as to provide
Indemnitee the same rights and benefits as are accorded to the most favorably
insured of the Company's directors, if Indemnitee is a director; or of the
Company's officers, if Indemnitee is not a director of the Company but is an
officer; or of the Company's key employees, agents or fiduciaries, if Indemnitee
is not an officer or director but is a key employee, agent or
fiduciary.

     

    
      
        
        

      

      
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    7. Exceptions.  Except
where so ordered by a court of competent jurisdiction, any other provision
herein to the contrary notwithstanding, the Company shall not be obligated
pursuant to the terms of this Agreement:

    

    (a) Excluded Action or
Omissions.  To indemnify Indemnitee for acts, omissions or
transactions from which Indemnitee may not be relieved of liability under
applicable law;

    

    (b) Claims Initiated by
Indemnitee.  To indemnify or advance expenses to Indemnitee
with respect to Claims initiated or brought voluntarily by Indemnitee and not by
way of defense, except (i) with respect to actions or proceedings brought to
establish or enforce a right to indemnification under this Agreement or any
other agreement or insurance policy or under the Company's Articles of
Incorporation or Bylaws now or hereafter in effect relating to Claims for
Indemnifiable Events, (ii) in specific cases if the Company’s Board of Directors
has approved the initiation or bringing of such Claim, (iii) as otherwise
required under Section 145 (or other applicable code section) of the Statute, or
(iv) in actions involving a counterclaim, interpleader, or third party claim,
regardless of whether Indemnitee ultimately is determined to be entitled to such
indemnification, advance expense payment or insurance recovery, as the case may
be;

    

    (c) Lack of Good
Faith.  To indemnify Indemnitee for any expenses incurred by
Indemnitee with respect to any proceeding instituted by Indemnitee to enforce or
interpret this Agreement, if a court of competent jurisdiction determines that
each of the material assertions made by Indemnitee in such proceeding was not
made in good faith or was frivolous; or

    

    (d) Claims Under Section 16(b).
To indemnify Indemnitee for expenses and the payment of profits arising from the
purchase and sale by Indemnitee of securities in violation of Section 16(b) of
the Securities Exchange Act of 1934, as amended, or any similar successor
statute.

    

    (e) Claims under Sarbanes-Oxley Act of
2002. To indemnify Indemnitee for any reimbursement of the Company by
Indemnitee of any bonus or other incentive-based or equity-based compensation or
of any profits realized by Indemnitee from the sale of securities of the
Company, as required in each case under the Exchange Act (including any such
reimbursements that arise from an accounting restatement of the Company pursuant
to Section 304 of the Sarbanes-Oxley Act of 2002, or the payment to the Company
of profits arising from the purchase and sale by Indemnitee of securities in
violation of Section 306 of the Sarbanes-Oxley Act of 2002).

     

    8. Period of
Limitations. No legal action shall be brought and no cause of action
shall be asserted by or in the right of the Company against Indemnitee,
Indemnitee's estate, spouse, heirs, executors or personal or legal
representatives after the expiration of two years from the date of accrual of
such cause of action, and any claim or cause of action of the Company shall be
extinguished and deemed released unless asserted by the timely filing of a legal
action within such two-year period; provided, however, that if any
shorter period of limitations is otherwise applicable to any such cause of
action, such shorter period shall govern.

     

    
      
        
        

      

      
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    9. Construction of Certain
Phrases.

    

    (a) For
purposes of this Agreement, references to the "Company" shall include, in
addition to the resulting corporation, any constituent corporation (including
any constituent of a constituent) absorbed in a consolidation or merger which,
if its separate existence had continued, would have had power and authority to
indemnify its directors, officers, employees, agents or fiduciaries, so that if
Indemnitee is or was a director, officer, employee, agent or fiduciary of such
constituent corporation, or is or was serving at the request of such constituent
corporation as a director, officer, employee, agent or fiduciary of another
corporation, partnership, joint venture, employee benefit plan, trust or other
enterprise, Indemnitee shall stand in the same position under the provisions of
this Agreement with respect to the resulting or surviving corporation as
Indemnitee would have with respect to such constituent corporation if its
separate existence had continued.

    

    (b) For
purposes of this Agreement, references to "other enterprises" shall include
employee benefit plans; references to "fines" shall include any excise taxes
assessed on Indemnitee with respect to an employee benefit plan; and references
to "serving at the request of the Company" shall include any service as a
director, officer, employee, agent or fiduciary of the Company which imposes
duties on, or involves services by, such director, officer, employee, agent or
fiduciary with respect to an employee benefit plan, its participants or its
beneficiaries; and if Indemnitee acted in good faith and in a manner Indemnitee
reasonably believed to be in the interest of the participants and beneficiaries
of an employee benefit plan, Indemnitee shall be deemed to have acted in a
manner "not opposed to the best interests of the Company" as referred to in this
Agreement.

    

    (c) For
purposes of this Agreement a "Change in Control" shall be deemed to have
occurred if (i) any "person" (as such term is used in Sections 13(d) and 14(d)
of the Securities Exchange Act of 1934, as amended), other than a trustee or
other fiduciary holding securities under an employee benefit plan of the Company
or a corporation owned directly or indirectly by the stockholders of the Company
in substantially the same proportions as their ownership of stock of the
Company, is or becomes the "beneficial owner" (as defined in Rule 13d-3 under
said Act), directly or indirectly, of securities of the Company representing
more than 50% of the total voting power represented by the Company's then
outstanding Voting Securities (as defined below), (ii) during any period of two
consecutive years, individuals who at the beginning of such period constitute
the Company’s Board of Directors and any new director whose election by the
Company’s Board of Directors or nomination for election by the Company's was
approved by a vote of at least two-thirds of the directors then still in office
who either were directors at the beginning of the period or whose election or
nomination for election was previously so approved, cease for any reason to
constitute a majority thereof, or (iii) the stockholders of the Company approve
a merger or consolidation of the Company with any other corporation other than a
merger or consolidation which would result in the Voting Securities of the
Company outstanding immediately prior thereto continuing to represent (either by
remaining outstanding or by being converted into Voting Securities of the
surviving entity) at least 50% of the total voting power represented by the
Voting Securities of the Company or such surviving entity outstanding
immediately after such merger or consolidation, or the stockholders of the
Company approve a plan of complete liquidation of the Company or an agreement
for the sale or disposition by the Company of (in one transaction or a series of
transactions) all or substantially all of the Company's assets.

     

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

     

    (d) For
purposes of this Agreement, "Independent Legal Counsel" shall mean an attorney
or firm of attorneys, selected in accordance with the provisions of Section 2(c)
hereof, who shall not have otherwise performed services for the Company, the
Indemnitee or any officer, director, subsidiary or other affiliate thereof
within the last five years (other than with respect to matters concerning the
rights of Indemnitee under this Agreement, or of other indemnitees under similar
indemnity agreements) and who shall be experienced in matters of corporate law.
The Company shall be responsible for any and all fees and expenses of the
Independent Legal Counsel.

    

    (e)  For
purposes of this Agreement "Potential Change in Control" shall be deemed to have
occurred if (a) the Company enters into an agreement or arrangement the
consummation of which would result in the occurrence of a Change in Control,
(b) any person (including the Company) publicly announces an intention to
take or to consider taking actions which if consummated would constitute a
Change in Control or (c) the Company’s Board of Directors adopts a
resolution to the effect that, for purposes of this Agreement, a Potential
Change in Control has occurred.

    

    (f) For
purposes of this Agreement, a "Reviewing Party" shall mean any appropriate
person or body consisting of the stockholders of the Company, the Company's
Board of Directors, or Independent Legal Counsel, as set forth in Section 2(c)
of this Agreement in accordance with section 145 (or any successor provision) of
the Statute.

    

    (g) For
purposes of this Agreement, "Voting Securities" shall mean any securities of the
Company that vote generally in the election of directors.

    

    10.  Contribution.  If
the indemnification provisions of this Agreement should be unenforceable under
applicable law in whole or in part or insufficient to hold Indemnitee harmless
in respect of any Expenses incurred by Indemnitee, then for purposes of this
Section 10, the Company shall be treated as if it were, or was threatened
to be made, a party defendant to the subject Claim and the Company shall
contribute to the amounts paid or payable by Indemnitee as a result of such
Expenses incurred by Indemnitee in such proportion as is appropriate to reflect
the relative benefits accruing to the Company on the one hand and Indemnitee on
the other and the relative fault of the Company on the one hand and Indemnitee
on the other in connection with such Claim, as well as any other relevant
equitable considerations.  For purposes of this Section 10 the
relative benefit of the Company shall be deemed to be the benefits accruing to
it and to al of its directors, officers, employees and agents (other than
Indemnitee) on the one hand, as a group and treated as one entity, and the
relative benefit of Indemnitee shall be deemed to be an amount not greater than
the Indemnitee's yearly base salary or Indemnitee's compensation from the
Company during the first year in which the Indemnifiable Event forming the basis
for the subject Claim was alleged to have occurred.  The relative
fault shall be determined by reference to, among other things, the fault of the
Company and all of its directors, officers, employees and agents (other than
Indemnitee) on the one hand, as a group and treated as one entity, and
Indemnitee's and such group's relative intent, knowledge, access to information
and opportunity to have altered or prevented the Indemnifiable Event forming the
basis for the subject Claim.

     

    
      
        
        

      

      
        11

        
          

        

      

      
        
        

      

    

     

    11.  Nondisclosure of
Payments.  Except as expressly required by Federal securities
laws, neither party shall disclose any payments under this Agreement unless
prior approval of the other party is obtained.  Any payments to the
Indemnitee that must be disclosed shall, unless otherwise required by law, be
described only in Company proxy or information statements relating to special
and/or annual meetings of the Company's stockholders, and the Company shall
afford the Indemnitee the reasonable opportunity to review all such disclosures
and, if requested, to explain in such statement any mitigating circumstances
regarding the events reported.

    

    12.  Covenant Not to Sue,
Limitation of Actions and Release of Claims.  No legal action
shall be brought and no cause of action shall be asserted by or on behalf of the
Company (or any of its subsidiaries) against the Indemnitee, his spouse, heirs,
executors, personal representatives or administrators after the expiration of
two years from the date the Indemnitee ceases (for any reason) to serve as
either an officer or a director of the Company, and any claim or cause of action
of the Company (or any of its subsidiaries) shall be extinguished and deemed
released unless asserted by filing of a legal action within such two-year
period.

    

    13.  Indemnification of
Indemnitee's Estate.  Notwithstanding any other provision of
this Agreement, and regardless whether indemnification of the Indemnitee would
be permitted and/or required under this Agreement, if the Indemnitee is
deceased, the Company shall indemnify and hold harmless the Indemnitee's estate,
spouse, heirs, administrators, personal representatives and executors
(collectively, the "Indemnitee's Estate") against, and the Company shall assume,
any and all claims, damages, expenses (including attorneys' fees), penalties,
judgments, fines and amounts paid in settlement actually incurred by the
Indemnitee or the Indemnitee's Estate in connection with the investigation,
defense, settlement or appeal of any action described in Section 1
hereof.  Indemnification of the Indemnitee's Estate pursuant to this
Section 13 shall be mandatory and not require a Determination or any other
finding that the Indemnitee's conduct satisfied a particular standard of
conduct.

    

    14. Counterparts. This
Agreement may be executed in one or more counterparts, each of which shall
constitute an original.

    

    15. Binding Effect; Successors
and Assigns. This Agreement shall be binding upon and inure to the
benefit of and be enforceable by the parties hereto and their respective
successors, assigns, including any direct or indirect successor by purchase,
merger, consolidation or otherwise to all or substantially all of the business
and/or assets of the Company, spouses, heirs, and personal and legal
representatives.  The Company shall require and cause any successor
(whether direct or indirect by purchase, merger, consolidation or otherwise) to
all, substantially all, or a substantial part, of the business and/or assets of
the Company, by written agreement in form and substance satisfactory to
Indemnitee, expressly to assume and agree to perform this Agreement in the same
manner and to the same extent that the Company would be required to perform if
no such succession had taken place. This Agreement shall continue in effect
regardless of whether Indemnitee continues to serve as a director, officer,
employee, agent or fiduciary of the Company or of any other enterprise at the
Company's request.

     

    
      
        
        

      

      
        12

        
          

        

      

      
        
        

      

    

     

    16. Attorneys'
Fees.  In the event that any action is instituted by Indemnitee
under this Agreement or under any liability insurance policies maintained by the
Company to enforce or interpret any of the terms hereof or thereof, Indemnitee
shall be entitled to be paid all Expenses incurred by Indemnitee with respect to
such action, regardless of whether Indemnitee is ultimately successful in such
action, and shall be entitled to the advancement of Expenses with respect to
such action, unless, as a part of such action, a court of competent jurisdiction
over such action determines that each of the material assertions made by
Indemnitee as a basis for such action was not made in good faith or was
frivolous. In the event of an action instituted by or in the name of the Company
under this Agreement to enforce or interpret any of the terms of this Agreement,
Indemnitee shall be entitled to be paid all Expenses incurred by Indemnitee in
defense of such action (including costs and expenses incurred with respect to
Indemnitee's counterclaims and cross-claims made in such action), and shall be
entitled to the advancement of Expenses with respect to such action, unless, as
a part of such action, a court having jurisdiction over such action determines
that each of Indemnitee's material defenses to such action was made in bad faith
or was frivolous.

    

    17. Notice.  All
notices and other communications required or permitted hereunder shall be in
writing, shall be effective when given, and shall in any event be deemed to be
given (a) five calendar days after deposit with the U.S. Postal Service or other
applicable postal service, if delivered by first class mail, postage prepaid,
(b) upon delivery, if delivered by hand, (c) one business day after the business
day of deposit with Federal Express or similar overnight courier, freight
prepaid, or (d) one calendar day after the business day of delivery by facsimile
transmission, if delivered by facsimile transmission with copy by first class
mail, postage prepaid, and shall be addressed if to the Indemnitee, at the
Indemnitee's address as set forth beneath his signature to this Agreement and if
to the Company at the address of its principal corporate offices (attention:
Secretary) or at such other address as such party may designate by ten calendar
days' advance written notice to the other party hereto.

    

    18. Consent to
Jurisdiction.  The Company and Indemnitee each hereby
irrevocably consent to the jurisdiction of the courts of the State of New York
for all purposes in connection with any action or proceeding which arises out of
or relates to this Agreement and agree that any action instituted under this
Agreement shall be commenced, prosecuted and continued only in the court of
competent jurisdiction of the State of New York, which shall be the exclusive
and only proper forum for adjudicating such a claim.

     

    
      
        
        

      

      
        13

        
          

        

      

      
        
        

      

    

     

    19. Severability.  The
provisions of this Agreement shall be severable in the event that any of the
provisions hereof (including any provision within a single section, paragraph or
sentence) are held by a court of competent jurisdiction to be invalid, void or
otherwise unenforceable, and the remaining provisions shall remain enforceable
to the fullest extent permitted by law. Furthermore, to the fullest extent
possible, the provisions of this Agreement (including, without limitation, each
portion of this Agreement containing any provision held to be invalid, void or
otherwise unenforceable, that is not itself invalid, void or unenforceable)
shall be construed so as to give effect to the intent manifested by the
provision held invalid, illegal or unenforceable.

    

    20. Choice of
Law.  This Agreement shall be governed by and its provisions
construed and enforced in accordance with the laws of the State of Delaware, as
applied to contracts between Delaware residents, entered into and to be
performed entirely within the State of Delaware, without regard to the conflict
of laws principles thereof.

    

    21. Subrogation.  In
the event of payment under this Agreement, the Company shall be subrogated to
the extent of such payment to all of the rights of recovery of Indemnitee, who
shall execute all documents required and shall do all acts that may be necessary
to secure such rights and to enable the Company effectively to bring suit to
enforce such rights.

    

    22. Amendment and
Termination. No amendment, modification, termination or cancellation of
this Agreement shall be effective unless it is in writing signed by both the
parties hereto. No waiver of any of the provisions of this Agreement shall be
deemed or shall constitute a waiver of any other provisions hereof (whether or
not similar) nor shall such waiver constitute a continuing waiver.

    

    23. Integration and Entire
Agreement. This Agreement sets forth the entire understanding between the
parties hereto and supersedes and merges all previous written and oral
negotiations, commitments, understandings and agreements relating to the subject
matter hereof between the parties hereto.

    

    24. No Construction as
Employment Agreement.  Nothing contained in this Agreement
shall be construed as giving Indemnitee any right to be retained in the employ
of the Company or any of its subsidiaries.

    

    25.  Effective
Date.  The provisions of this Agreement shall cover claims,
actions, suits and proceedings whether now pending or hereafter commenced and
shall be retroactive to cover acts or omissions or alleged acts or omissions
which heretofore have taken place.

     

    
      
        
        

      

      
        14

        
          

        

      

      
        
        

      

    

     

    IN
WITNESS WHEREOF, the parties hereto have executed this Indemnification Agreement
as of the date first above written.

     

    
      
        	 	

                EPOCH
      HOLDING CORPORATION, 

                a
      Delaware corporation

              	 
	 	 	 	 
	
                 

              	
                By
      

              	 	 
	 	 	Name: Timothy
      T. Taussig	 
	 	 	

                Title: President
      & Chief Operating Officer

              	 

      

    

     

    
      
        	

                AGREED
      TO AND ACCEPTED BY:

              	 	 	 	 
	
                 

              	 	 	
              	 
	
                Name:

              	 	 	
              	 
	
                

                  Title:

                

              	 	 	
              	 

      

    

     

    
      
        
        

      

      
        15Exhibit
10.49

     

    SUBLEASE
AGREEMENT

     

    SUBLEASE
AGREEMENT (this "Sublease" or this "Agreement") made and entered into as of the
14th day of
September, 2009, by and between Centerview Partners Holdings LLC f/k/a Pruzan
Holdings LLC, having an office at 31 West 52nd Street,
22nd Floor, New York, New York 10019 ("Sublessor"), and Epoch Investment
Partners, Inc., having an address at 640 Fifth Avenue, 18th Floor,
New York, New York 10019 ("Sublessee").

     

    WITNESSETH:

     

    WHEREAS,
Sublessor is the tenant under a certain lease agreement dated January 15, 2005,
(herein referred to as the "Master Lease", as the same may be hereafter amended
or supplemented as permitted by this Sublease) for the premises consisting of
the entire 19th Floor (the "Premises") in the Building known as 640 Fifth
Avenue, New York, New York 10019 (the "Building") with Vornado 640 Fifth Avenue
LLC ("Master Landlord") as landlord. The Premises is more particularly set forth
in Exhibit A attached hereto. Sublessee herein agrees to subordinate this
Sublease to the Master Lease and to those ground and underlying leases and
agreements and mortgages, renewals, modifications, consolidations, replacements,
and extensions thereto which may presently or in the future be hereafter placed
on the Premises by the Master Landlord. Sublessee shall not do, or fail to do,
any act that constitutes a violation or default of any of the terms or
conditions of the Master Lease or a mortgage referred to herein. Subject to
applicable notice and cure periods, Sublessee shall not exercise any right or
privilege, or do anything under this Sublease which would, subject to applicable
notice and cure periods, constitute a default or violation of any of the terms,
covenants or conditions of the agreements referred to in this paragraph, or fail
to perform an act, the failure of which would, subject to applicable notice and
cure periods, constitute a default or violation of any of the agreements
referred to in this paragraph. Sublessor represents that a true, correct and
complete copy of the Master Lease has been delivered to Sublessee by Sublessor
and except as otherwise set forth in this Sublease, the Master Lease is
incorporated herein by this reference. Capitalized terms used in this Sublease
and not defined shall have the meanings given to them in the Master
Lease.

     

    WHEREAS,
Sublessee is currently occupying the 18th Floor of the Building pursuant to a
lease agreement dated September 24, 2004 between Master Landlord, as landlord
therein, and Sublessee, as tenant therein (the "Sublessee Existing
Lease").

     

    WHEREAS,
Sublessor desires to sublet to Sublessee and Sublessee desires to rent from
Sublessor the Premises, which the parties agree consists of approximately 10,290
square feet on the 19th Floor of the Building.

     

    NOW,
THEREFORE, in consideration of the mutual covenants and obligations herein set
forth, and subject to the terms and conditions herein contained, the parties
hereby agree as follows:

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    1.
 Sublease of
Premises. Sublessor hereby subleases the Premises to Sublessee, and
Sublessee hereby rents the Premises from Sublessor, pursuant to the terms and
conditions set forth in this Sublease.

     

    2.  Term of Sublease.
This Sublease shall be for a term (the "Term") which commences on the
Commencement Date (as defined below) and ends on the Expiration Date (as defined
below), unless sooner terminated pursuant to any of the terms, covenants or
conditions of this Sublease or pursuant to law. In this Sublease, "Lease Year"
shall mean a period of twelve (12) consecutive months during the Term with the
exception of the first Lease Year. For purposes herein, the "Commencement Date"
shall mean the later to occur of (i) October 1, 2009 or (ii) the date that
Master Landlord‘s
written consent to this Sublease is delivered to the Sublessee in accordance
with Article 27 hereof together with the keys to the Premises. Notwithstanding
the Commencement Date, the "Expiration Date" of the Sublease shall be September
29,2015.

     

     
 3.  Basic Rent. A. In
consideration for the sublease granted by this Agreement and as Basic Rent for
the Premises during the Term of this Sublease, Sublessee shall pay to Master
Landlord the sum of Seven Hundred Ten Thousand Ten Dollars and no cents
($710,010.00) (the "Basic Rent") payable in advance on the first day of each
month during the Term hereof in equal monthly installments in the sum of
Fifty-Nine Thousand One Hundred and Sixty Seven Dollars and Fifty Cents
($59,167.50), without demand therefor, each at the office of Master Landlord in
the manner consistent with the Sublessee Existing Lease, without any set-off or
deduction whatsoever, except as otherwise set forth in this Sublease. If the
Commencement Date is on a date which is not the first day of the calendar month,
the monthly installment of the Basic Rent shall be prorated according to the
number of days remaining in the month divided by the actual number of days in
that month. Similarly, if the Term shall end on a date which is not the last
days of the calendar month, the monthly installment of Basic Rent shall be
prorated according to the number of days in the month during which this Sublease
shall have been in full force and effect divided by the actual number of days in
that month. Notwithstanding anything herein to the contrary, if Sublessor is
entitled to an abatement of rent or any other credit or reduction of rent
pursuant to the Master Lease after the Rent Commencement Date, Sublessee shall
receive the benefit of such credit, reduction or abatement (as applicable)
provided that such credit or abatement is not unrelated to the Premises. In the
event such abatement of rent or other credit is allocated on a per square foot
basis, then such abatement of rent or other credit shall be passed along to
Sublessee on a pro-rata basis based upon the percentage that is obtained by
dividing (x) the amount of Basic Rent per square foot set forth herein by (y)
the amount of Basic Rent per square foot payable by Sublessor under the Master
Lease.

     

    B.        
Rent Commencement
Date. The first Lease Year shall commence on the Commencement Date, but
Sublessee shall commence paying Basic Rent to Master Landlord on the date (the
"Rent Commencement Date") which is one-hundred and twenty (120) days after the
Commencement Date; provided that Sublessee shall not, in any event, commence
paying Basic Rent prior to February 1,2010. The first month‘s
payment of Basic Rent in the amount of Fifty-Nine Thousand One Hundred and Sixty
Seven Dollars and Fifty Cents ($59,167.50) shall be paid to Sublessor
contemporaneously with the execution and delivery of the Master Landlord‘s
written consent in accordance with Article 27 hereof. Thereafter, all Basic Rent
and Additional Rent payments by Sublessee shall be paid directly to the Master
Landlord in accordance with the terms and conditions
herein.

    
      
         

      

      
        - 2
-

        
          

        

      

      
         

      

    

     

    4.  Additional Rent. A.
(i) Subject to (a) Sublessor‘s
obligation to pay any portion of same in accordance with this Sublease,
including, without limitation, the terms and provisions of this Article 4; and
(b) Articles 4(iii) and 4(iv) hereof, Sublessee shall pay to Master Landlord all
other charges due from Sublessor to Master Landlord under the Master Lease as
billed to Sublessor by Master Landlord pursuant to the Master Lease solely with
respect to the Premises, whether or not designated as "additional" rent, and
which are attributable to the Premises within ten (10) days of Sublessee‘s
receipt of notice thereof. Sublessor shall have the same rights and remedies for
Sublessee‘s
failure to pay any Additional Rent as for Sublessee‘s
failure to pay any Basic Rent. Sublessee‘s
failure to pay any component of Basic Rent on or before the date upon which such
sum is due and to pay any component of Additional Rent within seven (7) days of
the date upon which such sum is due shall thereafter accrue interest and late
fees in accordance with Article 23.2 of the Master Lease.

     

     (ii)           Notwithstanding
anything to the contrary in the Master Lease, Sublessee shall pay Master
Landlord for electricity consumed in the Premises calculated as provided in
Section 5.3 of the Master Lease ("Electricity Additional Rent") on or prior to
the tenth (10th) day
after the date Master Landlord provides Sublessee with an invoice
therefore.

     

     (iii)           Notwithstanding
anything to the contrary in this Sublease or in the Master Lease, commencing
July 1, 2010 and continuing on July 1st of each subsequent Lease Year during the
Term hereof, Sublessee shall pay Master Landlord as Additional Rent the
difference between (x) the then-effective Tax Payment payable by Sublessor, as
provided in Article 2 of the Master Lease, and (y) the Tax Payment required to
be made by Sublessor pursuant to Article 2 of the Master Lease with respect to
the Tax Year ending June 30, 2010 ("Sublessee‘s
Tax Payment") within ten (10) days after Master Landlord shall have furnished
Sublessee with written notice thereof, together with a copy of the Tax
Statement.

     

    (iv)
Notwithstanding anything to the contrary in this Sublease or in the Master
Lease, commencing on January 1,2010 and continuing on January 1st of each
subsequent Lease Year during the Term hereof, Sublessee shall pay Master
Landlord as Additional Rent the difference between (x) the then-effective
Operating Expense Payment payable by Sublessor, as provided in Article 2 of the
Master Lease, and (y) the Operating Expense Payment required to be made by
Sublessor pursuant to Article 2 of the Master Lease with respect to the
Operating Expense Year ending December 30, 2009 ("Sublessee‘s
Operating Expense Payment") within ten (10) days after Master Landlord shall
have furnished Sublessee with written notice thereof, together with a copy of
the Operating Expense Statement.

     

      
B.      Notwithstanding anything to the contrary
contained in this Article 4 or elsewhere in this Sublease, (i) Sublessee shall
pay the Additional Rent and the Basic Rent directly to the Master Landlord in
the manner consistent with the Sublessee Existing Lease and (ii) Sublessee shall
have the same rights that Sublessor has under the Master Lease to challenge any
component of Additional Rent provided Sublessee notifies Sublessor of same ten
(10) days prior to the final date set forth for such challenge in the Master
Lease unless Master Landlord affords Sublessee the right to challenge Additional
Rent directly.

    
      
         

      

      
        - 3
-

        
          

        

      

      
         

      

    

    

    5  Security
Deposit.

     

    A.  
Subject to the terms of this Article 5, Sublessee, on the date hereof, shall
deposit with Sublessor, as security for the performance of Sublessee‘s
obligations under this Sublease, a "clean," unconditional, irrevocable and
transferable letter of credit (the "Letter of Credit") that (i) is in the
amount of One Hundred Seventy Seven Thousand Five Hundred Two Dollars and 50/100
cents ($177,502.50) (ii) is in a form that is reasonably satisfactory to
Sublessor, (iii) is issued for a term of not less than one (1) year, (iv) is
issued for the account of Sublessor, (v) automatically renews for periods of not
less than one (1) year unless the issuer thereof otherwise advises Sublessor on
or prior to the thirtieth (30th) day before the applicable expiration date, and
(vi) is issued by, and drawn on, a bank that has a Standard & Poor‘s
rating of at least "AA" (or, if Standard & Poor‘s
hereafter ceases the publication of ratings for banks, a rating of a reputable
rating agency as reasonably designated by Sublessor that most closely
approximates a Standard & Poor‘s
rating of "AA" as of the date hereof) and that either (I) has an office in the
city where the Building is located at which Sublessor can present the Letter of
Credit for payment, or (II) has an office in the United States and allows
Sublessor to draw upon the Letter of Credit without presenting a draft in person
(such as, for example, by submitting a draft by fax or overnight delivery
service) (the aforesaid rating of the bank that issues the Letter of Credit
being referred to herein as the "Bank Rating"). Notwithstanding the foregoing
requirements, Sublessor hereby consents to Sublessee obtaining the Letter of
Credit from First Republic Bank.

     

    B.  
        Sublessor‘s
Rights.

     

    If an Event of Default as
defined in Article 20 of the Master Lease occurs and is continuing, then
Sublessor may present the Letter of Credit for payment and apply the proceeds
thereof (i) to the payment of any Rental that then remains unpaid, or (ii) to
any damages to which Sublessor is entitled hereunder and that Sublessor incurs
by reason of such Event of Default. If Sublessor so applies any part of the
proceeds of the Letter of Credit, then Sublessee, within ten (10) days of
demand, shall provide Sublessor with a replacement Letter of Credit so that
Sublessor has the full amount of the required security at all times during the
Term. If at any time the Bank Rating of the issuer of the Letter of Credit is
less than "AA" (or, if Standard & Poor‘s
hereafter ceases the publication of ratings for banks, the Bank Rating of the
issuer of the Letter of Credit is less than a rating of a reputable rating
agency as reasonably designated by Sublessor that most closely approximates a
Standard & Poor‘s
rating of "AA" as of the date hereof), then Sublessee shall deliver to Sublessor
a replacement Letter of Credit, issued by a bank that has a Bank Rating that
satisfies the aforesaid requirement (and otherwise meets the requirements set
forth in Section A hereof) within fifteen (15) days after the date that
Sublessor gives Sublessee notice of such deficiency in such issuer‘s
rating and returns the original Letter of Credit to Sublessee. If Sublessee
fails to deliver to Sublessor such replacement Letter of Credit within such
period of fifteen (15) days, then Sublessor, in addition to Sublessor‘s
other rights at law, in equity or as otherwise set forth herein, shall have the
right to present the Letter of Credit for payment and retain the proceeds
thereof as security in lieu of the Letter of Credit (it being agreed that
Sublessor shall have the right to use, apply and transfer such proceeds in the
manner described in this Article 5). Sublessee shall reimburse Sublessor for any
reasonable costs that Sublessor incurs in so presenting the Letter of Credit for
payment within thirty (30) days after Sublessor
submits to Sublessee an invoice therefor. Nothing contained in this Section B of
this Article 5 limits Sublessor‘s
rights or remedies in equity, at law, or as otherwise set forth
herein.

    
      
         

      

      
        - 4
-

        
          

        

      

      
         

      

    

     

    C.           Return of
Security.

     

    Sublessor
shall return to Sublessee the Letter of Credit (to the extent not theretofore
presented for payment in accordance with the terms hereof) upon the earlier of
(i) five (5) days after Master Landlord returns Sublessor‘s
letter of credit under the Master Lease and (ii) within forty-five (45) days
after the expiration or earlier termination of the Term.

     

    D.          Renewal of Letter of
Credit.

     

    If
Sublessee fails to provide Sublessor with a replacement Letter of Credit that
complies with the requirements of this Article 5 on or prior to the thirtieth
(30th) day before the expiration date of the Letter of Credit that is then
expiring, then Sublessor may present the Letter of Credit for payment and retain
the proceeds thereof as security in lieu of the Letter of Credit (it being
agreed that Sublessor shall have the right to use, apply and transfer such
proceeds in the manner described in this Article 5). Sublessee shall reimburse
Sublessor for any reasonable costs that Sublessor incurs in so presenting the
Letter of Credit for payment within thirty (30) days after Sublessor submits to
Sublessee an invoice therefor. Sublessor also shall have the right to so present
the Letter of Credit and so retain the proceeds thereof as security in lieu of
the Letter of Credit at any time from and after the thirtieth (30th) day before
the Expiration Date if the Letter of Credit expires earlier than the forty-fifth
(45th) day after the Expiration Date.

     

    6.            Sublessor‘s
Work.

     

    (i)          
 Sublessor
Work. Sublessee acknowledges that it has made a full and complete
inspection of the Premises, and agrees, subject to the terms of this Article 6,
to accept same on the Commencement Date in its present "As-Is" condition, except
for latent defects or hazardous conditions which are not the responsibility of
the Master Landlord under the Master Lease.

     

    (ii)           As-Is. Sublessee
acknowledges that neither Master Landlord, Sublessor, nor Sublessor‘s
agent(s), have made any representations or promises regarding the Premises. The
acceptance of possession of the Premises by Sublessee shall be conclusive
evidence as against Sublessee that, except for latent defects or hazardous
conditions, the Premises were in good and satisfactory condition at the time
such possession was taken unless Sublessee advises Sublessor of unsatisfactory
conditions within ten (10) days of the Commencement Date or, within twenty (20)
business days of the Commencement Date, in the event of the discovery of latent
defects or hazardous conditions. Notwithstanding anything to the contrary
contained herein, neither Sublessor nor Master Landlord shall have any
responsibility for any liability or for any latent defects or any hazardous
condition that occurs as a result of any work by Sublessee.

    
      
         

      

      
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      (iii)          Surrender
at End of Term. At the end of the Term of this Agreement, whether by
expiration or prior termination as herein provided, Sublessee shall surrender
the Premises to Sublessor in the condition required by the Master Lease and
broom clean, and in good
order and condition, ordinary wear and tear and damage by casualty excepted, and
Sublessee shall remove all of its property (including all furniture or fixtures
listed on Exhibit B attached hereto but expressly excluding any Specialty
Alterations installed by Sublessor, as such term is defined in the Master Lease)
and repair any damage caused by such removal. Sublessee‘s
obligation to observe or perform this covenant shall survive the expiration or
prior termination of this«Agreement. Sublessee shall indemnify, defend and hold
Sublessor harmless of, from and against any liability under the Master Lease
occurring solely because of Sublessee‘s
failure to timely vacate the Premises or solely because of Sublessee‘s
failure to surrender the Premises as required herein or under the Master Lease.
In no event shall Sublessee be liable for consequential damages under this
Agreement.

    

     

    (iv)          Alterations.
Sublessee shall have no right to make any additions, alterations or changes to
the Premises without the express prior written consent of Master Landlord, to
the extent required under the Master Lease. All work shall be carried out in
accordance with the terms of the Master Lease, the terms of which, as they apply
to the Premises. Notwithstanding anything to the contrary contained herein, in
the event Sublessee shall perform any Specialty Alterations, as such term in
defined in the Master Lease, then prior to commencing such Specialty
Alterations, Sublessee shall enter into an amendment to the Sublessee Existing
Lease which shall require the restoration of the Premises solely in connection
with such Specialty Alterations to be an obligation under the Sublessee Existing
Lease.

     

    (v)           Notwithstanding
anything contained in this Sublease to the contrary, it is understood and agreed
that all of the obligations, work, repairs and services to be performed, made
and furnished by the Master Landlord pursuant to any provisions of the Master
Lease, which provisions are incorporated herein by reference, will in fact be
performed and furnished by the Master Landlord and not by Sublessor. Sublessor
shall in no event be liable to Sublessee nor shall Sublessee‘s
obligations hereunder be impaired or the performance thereof be excused, nor
shall the same constitute an actual or constructive eviction, because of any
failure or delay on the Master Landlord‘s
part in performance of any such obligations, furnishing any such work or
services or in making any such repairs unless same is caused by the negligence
or intentional acts of Sublessor. Notwithstanding the foregoing, if Master
Landlord shall fail to comply with any of its obligations under the Master
Lease, then Sublessee shall be subrogated to the rights of Sublessor to enforce
the obligations of Master Landlord under the Master Lease insofar as such
obligations relate to the Premises. Without limiting the generality of the
foregoing, if the Master Landlord shall default in any of its obligations to
Sublessor with respect to the Premises, Sublessee shall have the right in its
own name, that of Sublessor, or both, to bring an action or proceeding with
respect to such default, at Sublessee‘s
sole cost and expense, and Sublessee hereby is subrogated to the rights of
Sublessor against Master Landlord. Sublessor agrees to take such steps as
Sublessee may reasonably request to cooperate with Sublessee in any such legal
proceeding or action.

     

    (vi)          On
the Commencement Date and in consideration of One Dollar ($1.00) and other good
and valuable consideration, Sublessor shall transfer and assign to Sublessee
certain furniture located in the Premises, which furniture is set forth herein
on Exhibit "B", and which conference room furniture set forth on such Exhibit
shall be fully assembled. Any furniture not set forth on Exhibit "B" shall be
removed by Sublessor, at Sublessor‘s
sole cost and expense, prior to the Commencement Date and Sublessor shall repair
any damage to the Premises
caused by such removal which Sublessor is notified of in accordance with
Subsection (ii) of this Article 6. Sublessor hereby represents that the items
set forth on Exhibit "B" annexed hereto are owned by the Sublessor free and
clear of any and all liens, security interests or other
encumbrances.

    
      
         

      

      
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    (vii)
Sublessee shall be responsible for maintenance and repair of the Premises and
the Building to the same extent of the obligations of "Tenant" as described in
the Master Lease.

     

    7.    
       Sublessee‘s
Work, (i) Sublessee may hereafter perform work within the Premises
("Sublessee‘s
Work") in accordance with the terms and conditions of the Master Lease and
without the necessity of obtaining Sublessor‘s
consent to same.

     

    (ii)           Any
mechanic‘s
liens for work claimed to have been performed for, or materials claimed to have
been furnished to, Sublessee, shall be discharged by Sublessee, by bond or
otherwise, within twenty (20) days after the filing of such lien, at
Sublessee‘s
sole expense. Sublessee agrees to indemnify, hold harmless and defend Sublessor
and Master Landlord from any loss, cost, damage or expense, including reasonable
attorney‘s
fees, arising out of any such lien claim or out of any other claim relating to
work done or materials supplied to the Premises at Sublessee‘s
request or on Sublessee‘s
behalf. If Sublessee shall fail to cause such lien or claim of lien to be bonded
against or to be discharged within the period aforesaid, then, in addition to
any other right or remedy which Sublessor may have under this Sublease, at law
or in equity, Sublessor may, but shall not be obligated to, discharge the same
either by paying the amount claimed to be due or by procuring the discharge of
such lien or claim of lien by deposit or by bonding proceedings, and in any such
event, Sublessor shall be entitled, if Sublessor so elects, to compel the
prosecution of any action for the foreclosure of such lien or claim of lien by
the lienor with interest, and reasonable costs and expenses. Any amount so paid
by Sublessor and all reasonable third-party costs and expenses incurred by
Sublessor in connection herewith shall constitute Additional Rent payable by
Sublessee under this Sublease and shall be paid by Sublessee to Sublessor within
ten (10) days of demand therefor.

     

    (iii)           Sublessee
shall, at its sole cost and expense, obtain all required consents,
authorizations and licenses from all federal, state and/or municipal authorities
having jurisdiction over the Sublessee‘s
Work. All Sublessee‘s
Work shall be done in accordance with the plans and specifications approved by
Master Landlord in accordance with the terms and conditions of Section 6(iv)
hereof and the Master Lease, if applicable. All of Sublessee‘s
Work shall be done in a good and workmanlike manner, in accordance with all
applicable statutes, laws, ordinances, orders, rules, regulations and all
governmental authorities having jurisdiction thereof, including, without
limitation, the Americans With Disabilities Act of 1990.

     

    8.           Subletting
and Assignment. Sublessee shall have the right to assign this Agreement
or to sublet the Premises in accordance with the terms and conditions of Article
17 of the Master Lease; provided, however, that Sublessee shall provide
Sublessor with the documentation required pursuant to the Master Lease not less
than five (5) business days prior to Sublessee‘s
request for consent to such Transfer from the Master Landlord in accordance with
the Master Lease. In the event that there is a Transfer Profit (as such term is
defined in Article 17 of the Master Lease, including, without limitation, the
import of Article 17.7 of the Master Lease),
Sublessor shall receive one hundred percent (100%) of such Transfer Profit up to
an amount equal to (x) the Basic Rent and Additional Rent required to be paid by
Sublessor to Master Landlord under the Master Lease minus
(y) the Basic Rent and Additional Rent required to be paid by Sublessee
under this Sublease. Notwithstanding the foregoing, the definition of "Transfer
Outflow" (as used in the Master Lease) shall not include the provisions of
Section 17.6(B)(3)(b).

    
      
         

      

      
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    9.          
Master Lease.
A. Sublessee hereby agrees to observe and perform all of the duties and
obligations of Sublessor under the Master Lease, and shall be entitled to all of
the rights and privileges of Sublessor as tenant under the Master Lease, insofar
as they pertain to the Premises, except for such terms of the Master Lease which
do not relate to the Premises or are inapplicable, inconsistent with or
specifically modified by, the terms of this Sublease. Sublessee hereby agrees
that this Agreement is and shall remain in all respects subject and subordinate
to the Master Lease. Subject to the foregoing provisions, Sublessee will occupy
the Premises in accordance with the provisions of the Master Lease as if
Sublessee was the "Tenant" thereunder and will not do or suffer to be done any
act which might result in a violation of or a default under any of the terms,
conditions, covenants or agreements of the Master Lease or which might render
Sublessor liable for any charge, cost or expense thereunder by reason thereof.
Sublessee acknowledges that certain defaults by it under this Sublease may
constitute a default by Sublessor under the Master Lease, and that
Sublessee‘s
liability to Sublessor shall include, but not be limited to, any damages or
liabilities actually incurred by Sublessor to Master Landlord under the Master
Lease by reason thereof. Notwithstanding the foregoing or anything to the
contrary in this Sublease, Sublessee shall not liable for duplicative fees to
both Sublessor and Master Landlord in connection with the foregoing or by reason
of any provision of the Master Lease being incorporated by reference herein,
provided that Sublessee has paid such fees to either the Master Landlord or the
Sublessor, as the case may be.

     

    B.           To
the extent there are inconsistencies between any provision of the Master Lease
and any provision of this Sublease, this Sublease shall control. Sublessee shall
be entitled to the rights of Sublessor, as tenant under the Master Lease,
insofar as the same relate to the Premises. Sublessor shall promptly forward to
Master Landlord any requests or other communications made by Sublessee related
to the performance by Master Landlord of any of its obligations under the Master
Lease and shall promptly forward to the Sublessee any communication received
from the Master Landlord related to the Premises.

     

    C.           Notwithstanding
anything to the contrary contained in this Sublease or the Master Lease:

     

    (i)         
 for the purposes of incorporation of the Master Lease by reference in this
Sublease, except as otherwise expressly provided herein, and except to the
extent that they are inapplicable or modified by the terms and provisions of
this Sublease (a) references in the Master Lease to the "Premises" or the
"Demised Premises" shall be deemed to refer to the Premises, (b) references in
the Master Lease to "Landlord" shall be deemed to refer to Sublessor under this
Sublease, (c) references in the Master Lease to "Tenant" shall be deemed to
refer to Sublessee under this Sublease, (d) references in the Master Lease to
"this Lease" shall be deemed to refer to this Sublease, (e) references in the
Master Lease to the ‘Term"
of the Master Lease shall be deemed to refer to the Term of this Sublease and
(f) references in the Master
Lease to the "Expiration Date" of the Master Lease shall be deemed to refer to
the Expiration Date of this Sublease;

    
      
         

      

      
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    (ii)          the
Basic Rent and Additional Rent to be paid by Sublessee hereunder shall be
governed by the terms and provisions of Articles 3 and 4 of this
Sublease;

     

    (iii)         to
the extent that the corresponding provision in this Sublease is more
constricting upon Sublessee, the time limits contained in the Master Lease for
the giving of notices, making of demands or performing of any act, condition or
covenant on the part of the tenant thereunder, or for the exercise by the tenant
thereunder of any right, remedy or option, are changed for the purposes of
incorporation herein by reference by shortening the same in each instance by two
(2) days, so that in each instance Sublessee shall have two (2) days less time
to observe or perform hereunder than Sublessor has as the tenant under the
Master Lease (but in no event shall Sublessee have less than one (1)
day);

     

    (iv)         it
is expressly understood and agreed by the parties that, subject to the terms and
conditions of this Sublease, Sublessee agrees to abide by the terms and
conditions of the Master Lease and that Sublessee shall be entitled to all of
the benefits under the Master Lease as they relate to the Premises; provided,
however, that the following parts, provisions and exhibits of the Master Lease
are not applicable to this Sublease, and are not incorporated herein by
reference: Sections 1.1-1.4; Sections 1.5(B) and (C); Section 1.6; Article 6;
Section 7.1(C); Section 13.10; Section 17.6(B)(3)(b); Articles 24, 28 and 29;
Section 32.4(C); Section 32.19; and Exhibit 6.2.

     

    10.          Use of Premises.
Sublessee shall occupy and use the Premises during the Term of this Sublease in
accordance with Article 3 of the Master Lease and for no other purpose, and in
all other respects in compliance with the Master Lease and all
Requirements.

     

    11.          Default by Sublessee.
If Sublessee shall default in the performance of any of the terms, covenants,
conditions or agreements contained in this Sublease which default is not cured
upon ten (10) days written notice for non-monetary defaults and seven (7) days
written notice for monetary defaults, duly served in the manner set forth
herein, or if Sublessee shall commit any default under the Master Lease to the
extent that the provisions thereof are applicable to Sublessee which default is
not cured upon three (3) days written notice duly served in the manner set forth
herein, then in addition to any other rights or remedies Sublessor may have
under this Sublease and at law and in equity, Sublessor or Master Landlord, as
the case may be, shall have the following rights:

     

    (i)        To
invoke any or all of the remedies which are specified for Master Landlord under
the Master Lease as if Sublessor were the Master Landlord.

     

    (ii)       To
re-enter the Premises and remove all persons and all or any property therefrom
either by summary dispossess proceedings, ejectment or by any suitable action or
proceeding at permitted by law or in equity, without being liable to indictment,
prosecution or damages therefor, and repossess and enjoy the Premises, together
with all additions, alterations and improvements. Upon lawfully recovering
possession of the Premises by reason of a default on the part of Sublessee which
default is not cured upon ten (10) days written notice duly served in the
manner set forth herein, Sublessor may, at Sublessor‘s
option, terminate this Sublease or make such alterations and repairs as may be
necessary in order to relet the Premises or any part or parts thereof, either in
Sublessor‘s
name or otherwise. Sublessor shall in no event be liable in any way whatsoever
for failure to relet the Premises.

    
      
         

      

      
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    (iii),
..       Sublessee shall be in "default" of its
obligations under this Sublease for failure to comply with the terms and
conditions of this Sublease, including without limitation, failure to make
timely payment of Basic Rent and Additional Rent, or failure to comply with the
terms and conditions of the Master Lease which are applicable to Sublessee
pursuant to the terms of this Sublease.

     

    (iv)           In
addition, Sublessor may, at Sublessor‘s
option, enter the Premises and take and hold possession thereof without such
entry into possession terminating this Sublease or releasing Sublessee in whole
or in part from Sublessee‘s
obligation to pay the Rent and Additional Rent hereunder for the full stated
Term of this Sublease. Upon such re-entry, Sublessor may remove all persons and
property from the Premises and such property may be removed and stored in a
public warehouse or elsewhere at the cost of and for the account of Sublessee,
all without service of notice or resort to legal process and without being
deemed guilty of trespass, or becoming liable for any loss or damage which may
be occasioned thereby. Upon and after entry into possession, Sublessor may but
need not relet the Premises, or any part for such rent, for such time and upon
such terms as Sublessor, in Sublessor‘s
sole discretion, shall determine, subject to the requirements of the Master
Lease, and Sublessor shall not be required to accept any sublessee offered by
Sublessee or to observe any instruction given by Sublessee about any such
reletting. In any such case, Sublessor may make necessary repairs to the
Premises to the extent reasonably deemed by Sublessor necessary and Sublessee
shall, within ten (10) days of demand therefor, pay the reasonable costs thereof
together with Sublessor‘s
expense of reletting. If the consideration collected by Sublessor upon any such
reletting for Sublessee‘s
account and after deducting all reasonable expenses incident thereto actually
incurred, including non-affiliate brokerage fees and reasonable legal expenses,
is not sufficient to pay monthly the full amount of Rent and Additional Rent
provided in this Sublease, Sublessee shall pay to Sublessor the amount of each
deficiency upon demand.

     

    (v)       
  No waiver by Sublessor of any breach by Sublessee of any of
Sublessee‘s
obligations, agreements or covenants herein shall be a waiver of any subsequent
breach of any obligation, agreement or covenant, nor shall any forbearance by
Sublessor to seek a remedy for any breach by Sublessee be a waiver by Sublessor
of any rights and remedies with respect to such breach or any subsequent breach
and the foregoing remedies of Sublessor do not waive any right of the Master
Landlord to exercise its remedies under the Master Lease.

     

    12.          Fees and
Expenses.

     

    A.          Curing Sublessee‘s
Defaults. If Sublessee shall default in the observance or performance of
any term or covenant on Sublessee‘s
part to be observed or performed under or by virtue of any of the terms or
provisions in any Article of this Sublease, after the giving of notice and upon
the expiration of any applicable grace period (except in an emergency),
Sublessor may immediately or at any time thereafter and upon written notice to
Sublessee perform the same for the account of Sublessee. If Sublessor makes any
expenditures or incurs any
obligations for the payment of money in connection with any such default by
Sublessee or the cure thereof including, but not limited to, any damages or
fines or any reasonable attorneys‘
fees and disbursements in instituting, prosecuting or defending any action or
proceeding, such reasonable sums paid or obligations incurred with interest and
costs shall be deemed to be additional rent hereunder and shall be paid by
Sublessee to Sublessor within twenty (20) days of rendition of any bill or
statement to Sublessee and appropriate backup documentation therefor. If the
Term hereof shall have expired at the time Sublessor sustains or incurs such
expenditures, such sums shall be recoverable by Sublessor, as
damages.

    

      
        
           

        

        
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    B.          
Late Charges.
If Sublessee shall fail to make payment of any installment of Basic Rent or any
Additional Rent within seven (7) days after the date when such payment is due,
Sublessee shall pay to Sublessor, in addition to such installment of Basic Rent
or such Additional Rent, as the case may be, as a late charge and as Additional
Rent, a sum based on a rate set forth in Article 23.2 of the Master
Lease.

     

    13.          Holdover bv
Sublessee. Notwithstanding anything to the contrary contained in this
Agreement, the parties recognize and agree that the damage to Sublessor
resulting from any failure by Sublessee to timely surrender possession of the
Premises as aforesaid will be substantial, will exceed the amount of the monthly
installments of the Rent theretofore payable hereunder, and will be impossible
to accurately measure. Sublessee therefore agrees that if possession of the
Premises is not surrendered to Sublessor within twenty-four (24) hours after the
Expiration Date or sooner termination of the Term, in addition to any other
rights or remedy Sublessor may have hereunder or at law, Sublessee shall pay to
Sublessor for each month and for each portion of any month during which
Sublessee holds over in the Premises after the Expiration Date or sooner
termination of this Sublease, a sum equal to the amount set forth in Article
25.2 of the Master Lease. Nothing herein contained shall be deemed to permit
Sublessee to retain possession of the Premises after the Expiration Date or
sooner termination of this Sublease and no acceptance by Sublessor of payments
from Sublessee after the Expiration Date or sooner termination of the Term shall
be deemed to be other than on account of the amount to be paid by Sublessee in
accordance with the provisions of this Article 13, which provisions shall
survive the Expiration Date or sooner termination of this Sublease.

     

    14. 
Liability. A.
Sublessor shall not be liable for any injury to, or for any loss of or damage to
the property of Sublessee or the employees, agents, invitees or licensees of
Sublessee, howsoever occurring, arising in connection with this Sublease of the
Premises by Sublessee, and Sublessee hereby waives any and all claims with
respect thereto, other than if caused by the gross negligence or intentional
acts of the Sublessor. Sublessee hereby agrees to defend, indemnify and hold
Sublessor, Master Landlord and their employees and agents, harmless from and
against any and all claims, damages, judgments, expenses, losses or liabilities
paid, suffered or incurred by or asserted against Sublessor or Master Landlord,
arising out of, related to or in connection with any uncured breach by
Sublessee, or its agents, employees, invitees or licensees, of any term,
condition, covenant or obligation of this Sublease or those of the Master Lease
or arising out of, related to or in connection with the performance of
Sublessee‘s
Work or Sublessee‘s
use and occupancy of the Premises.

    
      
         

      

      
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    B.         
 Sublessor hereby covenants and agrees to indemnify, defend, and hold
Sublessee, its successors, and its assigns harmless from and against any and all
actions, claims, demands, damages,
liabilities, and expenses (including, without limitation, reasonable
attorneys‘
fees) based upon, arising out of, or incurred on account of (a) any violation
caused, suffered, or permitted by Sublessor, its agents, servants, employees, or
their respective successors or assigns, of any of the terms, covenants, or
conditions of this Sublease beyond the expiration of applicable grace, notice
and cure period, or (b) a breach of any of the representations or warranties
made by Sublessor to Sublessee in this Sublease. The foregoing indemnity shall
survive the expiration of sooner termination of this Sublease.

     

    15.          Insurance. During the
Term of this Sublease, Sublessee shall, at its own cost and expense, keep and
maintain the insurance policies required to be maintained by the "tenant"
pursuant to Article 14 of the Master Lease. Prior to the Commencement Date,
Sublessee shall deliver to Sublessor and to Master Landlord a copy of said
insurance policies or a certificate thereof. Said policies shall name Sublessor
and Master Landlord as additional insureds and shall stipulate that the policy
shall not be cancelled or substantially changed without thirty (30) days prior
written notice sent to both Sublessor and Master Landlord.

     

    16.          Broker. Sublessee and
Sublessor each represent and warrant to the other party that no real estate
broker or person acting as such was consulted or dealt with in connection with
this Sublease or the Premises other than Studley, Inc. and Cushman &
Wakefield, Inc. (collectively, the "Broker") and that neither party nor its
representatives have performed any act or made any agreements or promises which
will in any way obligate the other party for the payment of any fee, charge,
commission or other compensation or award to any party in connection with this
Sublease other than the Broker. Sublessor shall pay any fee or commission due to
the Broker. Nothing contained herein however shall obligate the Sublessee to pay
any part of same. In any event, Sublessee and Sublessor each agree to indemnify
and hold Master Landlord and the other party harmless from any liability or
expense (including but not limited to reasonable counsel fees and disbursements)
incurred because of any claim for commissions, fees, or other compensation made
by any real estate broker or person acting as such, based on claims contrary to
the foregoing representation and warranty.

     

    17.          Notices. All notices
to be given hereunder shall be given by prepaid registered or certified mail,
return receipt requested, or by nationally recognized overnight mail service and
addressed to the recipient party at its address given on the first page or to
such other address as such party may have furnished in a notice given pursuant
to this Section 17. Notices to Sublessor shall be directed to the attention of
Jeanne Vicari, Chief Financial Officer, at the Premises prior to the
Commencement Date and, after the Commencement Date, to Centerview Partners
Holdings LLC, 31 West 52nd Street,
22nd
Floor, New York, New York 10019, with a copy to Law Office of Jody E. Markman,
PLLC, 1775 Broadway, New York, New York 10019 Attn: Jody E. Markman, Esq., and
notices to Sublessee shall be directed to the attention of Timothy T. Taussig,
Chief Operating Officer, with a copy to Greenberg Traurig, LLP, 200 Park Avenue,
New York, New York 10166, Attn: Alan Annex, Esq. All notices shall be deemed to
have been given upon receipt or rejection.

     

    18.          Directory Listings.
Subject to the terms and conditions of the Master Lease, Sublessee will be
entitled to directory and suite signage in accordance with the terms and
conditions of the Master Lease.

    
      
         

      

      
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    19.          Eminent Domain. In
the event that the Master Lease is terminated pursuant to the terms of Article
16 of the Master Lease, this Agreement shall terminate at the time that the
Master Lease terminates. Provided Sublessee is not in default of the terms and
conditions of this Agreement, after notice and beyond applicable cure periods,
all compensation awarded or paid upon any total or partial taking or conveyance
of the Premises or other portions of the Property shall be the sole property of
Sublessee. Nothing herein contained shall be construed to preclude Sublessee
from prosecuting any claim for the value of or damages to, or the cost of
removal of Sublessee‘s
personal property and moving expenses.

     

    20.           Damage or Destruction bv
Fire. If the Premises or the Building of which it forms a part are
damaged or destroyed by fire or other casualty, Sublessor shall have no
obligation to rebuild or restore the Premises and no liability whatsoever for
loss of life, or injury to persons or property, or for lost profits or loss of
this Sublease should Master Landlord elect not to rebuild or restore the
Premises or any part of the Building of which it forms a part. The rebuilding or
restoration of the Premises and any abatement of rent, if any, shall be
determined in accordance with the terms and provisions of the Master Lease.
Sublessee hereby waives the provisions of Section 227 of the Real Property Law
and agrees that the provisions of this Section 20 shall govern and control in
lieu thereof.

     

    21.          Estoppel Certificates and
Subordination Documents. Sublessee shall timely execute and deliver any
estoppel certificate required to be given under the Master Lease as incorporated
herein, or any subordination or attornment instrument required to be executed
under the Master Lease, as incorporated herein. Failure to do so shall be deemed
a default under this Agreement.

     

    22.          Utilities. Sublessor
shall have no obligation to provide any utilities to Sublessee or to the
Premises. Sublessor makes no representations about the availability or adequacy
of such utilities. Sublessee shall be liable for all taxes levied or assessed
against any personal property or fixtures placed in the Premises by Sublessee
(expressly excluding the items listed on Exhibit B hereto) and Sublessee‘s
obligations with respect to the payment of taxes pursuant to this Article 22
shall survive the expiration or earlier termination of this Sublease. None of
the Basic Rent or Additional Rent, nor any of Sublessee‘s
other obligations under any provisions of this Agreement, shall be affected by
any decrease in, interruption or failure of, or interference with any utilities
or services used, rendered or supplied to, upon or in connection with the
Premises by any cause whatsoever, except to the extent provided to the tenant
pursuant to the Master Lease.

     

    23.          Limitation on
Liability. Sublessee hereby agrees that no partner, trustee, director,
shareholder, officer, employee or agent of Sublessor shall ever be personally
liable for any damages, rent, costs, judgments, orders or executions arising
under or as a result of this Sublease. Sublessor hereby agrees that no partner,
trustee, director, shareholder, officer, employee or agent of Sublessee shall
ever be personally liable for any damages, rent, costs, judgments, orders or
executions arising under or as a result of this Sublease.

    

      
        
           

        

        
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    24.          Miscellaneous.
This Agreement contains the entire agreement of the parties with respect to the
transactions contemplated hereby, supersedes all prior agreements or
understandings with respect to the subject matter hereof, and may not be changed
or modified in any way
unless such change or modification is in writing and signed by the party to be
bound. Neither Sublessor nor Sublessee has made any representations or
warranties with respect to this Agreement except as herein expressly set forth.
This Agreement will be binding upon, inure to the benefit of and be enforceable
by the parties hereto and their respective permitted successors and assigns. The
headings in this Agreement are for convenience only and shall not be used in
construing the intention of the parties. This Agreement may be executed in two
or more counterparts, each of which shall be deemed an original but all of which
together shall constitute one and the same
instrument.

     

    25.          No Offer to Lease.
This Agreement shall not be binding until (a) it shall have been executed and
delivered by Sublessor and Sublessee, and (b) Sublessor shall have received four
duplicate original copies of this Sublease fully executed by all parties hereto.
Sublessee and Sublessor each acknowledge that it is not relying on any warranty
or representation not contained in this Sublease.

     

    26.           Estoppel: Sublessor‘s
Performance Under Master Lease.

     

    A.           Sublessor
represents that (i) it has paid all rent and additional rent due and payable
pursuant to the Master Lease as of the date of this Sublease, (ii) no event has
occurred which is, or with the giving of notice or passage of time, or both,
will become, a condition of limitation under the Master Lease, on the part of
either Sublessor or the Master Landlord, (iii) it is currently the tenant under
the Master Lease, (iv) it has not received any notices of default citing any
defaults under the Master Lease which remain uncured, and (v) the Master Lease,
a copy of which is attached hereto as Exhibit C, represents the entire agreement
with respect to the Premises between the Master Landlord and the
Sublessor.

     

    B.           Sublessor
will duly observe and perform every term and condition of the Master Lease to
the extent that such term and condition is not provided in this Sublease to be
observed or performed by Sublessee. Sublessor shall not enter into any
modification or amendment to or of the Master Lease or take any other action
which results in the modification, surrender or cancellation of the Master Lease
without the prior written consent of Sublessee. Any modification, amendment,
agreement, surrender or cancellation made without such consent shall have no
effect on the rights or obligations of the Sublessee under this
Sublease.

     

    27.          Master Landlord‘s
Consent. A. Upon execution hereof, this Sublease shall be delivered to
the Master Landlord for its consent. Sublessor and Sublessee expressly
acknowledge that the Master Landlord‘s
consent, reasonably satisfactory to Sublessor and Sublessee, is a condition
precedent to the effectiveness of this Sublease. Sublessor and Sublessee agree
to use reasonable and diligent efforts to obtain the Master Landlord‘s
consent hereto, and shall execute and deliver such other and further instruments
and/or deliver such information as may reasonably be required to obtain the
Master Landlord‘s
consent to the subleasing of the Premises to Sublessee. If, for any reason, the
Master Landlord‘s
consent to this Sublease, reasonably satisfactory to Sublessee or Sublessor,
cannot be obtained within thirty (30) days after the date hereof, Sublessee
shall have the right, at any time after such thirtieth (30th) day, but prior to
the date upon which the consent of the Master Landlord is obtained, to cancel
this Sublease by serving written notice to the Sublessor and, in such event, (i)
the parties hereto shall be
released, (ii) all sums paid by Sublessee hereunder shall be returned to
Sublessee and (iii) neither party hereto shall have any further liability to the
other arising out of this transaction.

    
      
         

      

      
        - 14
-

        
          

        

      

      
         

      

    

     

    B.     
     Sublessor acknowledges and agrees that the Master
Landlord‘s
consent to this Sublease shall not be acceptable to Sublessee unless such
consent provides (1) that rent due under this Sublease shall be payable directly
to Master Landlord in lieu of Sublessor; (2) that Sublessee shall have the right
to deal with Master Landlord directly on all matters that relate to the Premises
pursuant to the Master Lease; (3) a Master Landlord estoppel pursuant to section
13.6 of the Master Lease; and (4) for Master Landlord‘s
waiver of subrogation with respect to Sublessee.

     

    28.        
  Governing
Law. This Sublease shall be governed in all respects by the laws of the
State of New York.

     

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        - 15
-

        
          

        

      

      
         

      

    

    IN
WITNESS WHEREOF, the parties have duly executed this Agreement as of the day and
year first above written.

     

    
      
        
          
            
              
                	 
      	
                        SUBLESSOR:

                      
	 
      	
                        Centerview
      Partners Holdings LLC

                      
	 	 
	 
      	
                        By:

                      	/s/
      Robert Pruzan
	 
      	
                        Name:
      Robert Pruzan

                      
	 
      	
                        Title:
      Member

                      
	 
      	 
      
	 
      	
                        SUBLESSEE:

                      
	 
      	
                        Epoch
      Investment Partners, Inc.

                      
	 
      	 
      
	 
      	
                        By:

                      	/s/
      Timothy
      T. Taussig
	 
      	
                        Name:
      TIMOTHY T. TAUSSIG

                      
	 
      	
                        Title:
      PRESIDENT

                      

              

            

          

        

      

    

    
      
         

      

      
        - 16
-

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