Document:

exv10w10

Exhibit 10.10

FORM OF

ADMINISTRATIVE SERVICES AGREEMENT

dated as of September [___], 2009

between

FOURSQUARE CAPITAL MANAGEMENT, LLC

and

ALLIANCEBERNSTEIN L.P.

 

 

TABLE OF CONTENTS

	 	 	 	 	 
	 	 	Page	 
	ARTICLE I DEFINITIONS
	 	 	1	 
	 
	 	 	 	 
	Section 1.1 Definitions
	 	 	1	 
	 
	 	 	 	 
	ARTICLE II FACILITIES AND SERVICES
	 	 	2	 
	 
	 	 	 	 
	Section 2.1 Facilities and Services
	 	 	2	 
	Section 2.2 Standard of Care
	 	 	2	 
	Section 2.3 Modification of Services
	 	 	2	 
	Section 2.4 Cooperation
	 	 	2	 
	Section 2.5 Personnel and Subcontracting of Services
	 	 	2	 
	 
	 	 	 	 
	ARTICLE III TERM AND TERMINATION
	 	 	3	 
	 
	 	 	 	 
	Section 3.1 Term
	 	 	3	 
	Section 3.2 Effect of Termination
	 	 	3	 
	 
	 	 	 	 
	ARTICLE IV COMPENSATION
	 	 	3	 
	 
	 	 	 	 
	Section 4.1 Compensation
	 	 	3	 
	 
	 	 	 	 
	ARTICLE V MISCELLANEOUS
	 	 	4	 
	 
	 	 	 	 
	Section 5.1 Representations and Warranties
	 	 	4	 
	Section 5.2 Indemnification
	 	 	4	 
	Section 5.3 Notices
	 	 	4	 
	Section 5.4 Amendments and Waivers
	 	 	5	 
	Section 5.5 Headings
	 	 	5	 
	Section 5.6 Counterparts
	 	 	5	 
	Section 5.7 Entire Agreement
	 	 	5	 
	Section 5.8 Governing Law
	 	 	5	 
	Section 5.9 Resolution of Disputes
	 	 	6	 
	Section 5.10 Waiver of Jury Trial
	 	 	7	 
	Section 5.11 Assignment
	 	 	7	 
	Section 5.12 Binding Nature
	 	 	7	 
	Section 5.13 Severability
	 	 	7	 
	Section 5.14 No Right of Setoff
	 	 	7	 
	Section 5.15 Specific Performance
	 	 	7	 
	Section 5.16 Construction
	 	 	7	 
	Section 5.17 Management Agreement
	 	 	8	 
	Section 5.18 Confidentiality
	 	 	8	 

 

 

	 	 	 	 	 
	 	 	Page	 
	Section 5.19 Third-Party Beneficiary
	 	 	8	 

List of Schedules

SCHEDULE A — FACILITIES AND SERVICES

 

 

ADMINISTRATIVE SERVICES AGREEMENT

     This ADMINISTRATIVE SERVICES AGREEMENT (this “Agreement”), dated as of September [___],
2009, is entered into by and between ALLIANCEBERNSTEIN L.P., a Delaware limited partnership
(“AllianceBernstein”), and FOURSQUARE CAPITAL MANAGEMENT, LLC, a Delaware limited liability
company and subsidiary of AllianceBernstein (the “Manager”).

     WHEREAS, Foursquare Capital Corp., a Maryland corporation that has elected to be taxed as a
real estate investment trust (the “Company”), has retained the Manager to provide certain
investment advisory and management services pursuant to a Management Agreement, dated as of the
date hereof, by and between the Company and the Manager (the “Management Agreement”).

     WHEREAS, the Manager is authorized under the Management Agreement to retain third parties to
assist it in fulfilling its obligations under the Management Agreement.

     WHEREAS, the parties have agreed to enter into this Agreement in order to provide the Company
and its subsidiaries with access to the expertise and resources of AllianceBernstein in certain
areas and to assist the Manager in providing certain facilities, services and support to the
Company and its subsidiaries.

     NOW, THEREFORE, in consideration of the foregoing and the covenants and agreements contained
in this Agreement, the parties hereto agree as follows:

ARTICLE I

DEFINITIONS

     Section 1.1 Definitions. As used in this Agreement, the following terms shall have
the following meanings:

     “Advisory Agreement” means the advisory agreement, dated as of the date hereof,
between AllianceBernstein and the Manager.

     “Agreement” shall have the meaning specified in the preamble hereto.

     “AllianceBernstein” shall have the meaning specified in the preamble hereto.

     “Company” shall have the meaning specified in the preamble hereto.

     “Facility” or “Facilities” shall mean each of the facilities described in
Schedule A to be made available by AllianceBernstein pursuant to the terms and conditions
of this Agreement.

     “Facility/Service Description” shall mean the description of each individual Facility
or Service respectively provided in Schedule A.

     “Governmental Entity” shall mean any court, administrative or regulatory agency,
entity, authority or commission or other governmental agency, entity, authority, commission or
instrumentality (whether local, municipal, state, federal, national, supra-national or otherwise).

     “Management Agreement” shall have the meaning specified in the preamble hereto.

 

 

     “Management Services” shall mean the Services designated as “Management Services” to
be provided by AllianceBernstein as provided in Schedule A.

     “Manager” shall have the meaning specified in the preamble hereto.

     “Person” shall mean any individual, corporation, association, partnership, limited
liability company, joint venture, unincorporated organization, trust, trustee, executor,
administrator or other legal representative, Governmental Entity, or other entity or organization.

     “Personnel Services” shall mean the services to be provided by AllianceBernstein
provided in Schedule A.

     “Service” or “Services” shall mean each of the services described in
Schedule A to be provided by AllianceBernstein pursuant to the terms and conditions of this
Agreement.

     “Term” shall have the meaning specified in Section 3.1(a).

ARTICLE II

FACILITIES AND SERVICES

     Section 2.1 Facilities and Services. Subject to the terms of this Agreement,
including, but not limited to Section 3.1, AllianceBernstein shall provide, or shall cause an
AllianceBernstein subsidiary to provide, to the Manager, the Facilities and Services together with
any other services that may be reasonably requested by the Manager so as to perform and discharge
its duties and obligations under the Management Agreement during the Term. The parties have set
forth on Schedule A a summary of some of the Facilities and Services to be provided and a
description of the Facilities and Services.

     Section 2.2 Standard of Care. AllianceBernstein shall provide and shall cause its
subsidiaries to provide the Facilities and Services exercising the same degree of care, priority
and diligence as it exercises in performing the same or similar services for itself and its
subsidiaries.

     Section 2.3 Modification of Services. Schedule A identifies the Facilities
and Services to be provided by AllianceBernstein and, subject to the mutual agreement of the
parties hereto acting reasonably, it may be amended from time to time in accordance with
Section 5.4, to add any additional Facilities and Services or to modify or delete Facilities or
Services. During the Term, Facility or Service upgrades and improvements which AllianceBernstein
provides to its own internal organizations shall be made available to the extent that the parties
mutually agree upon the fee, if any, for any such upgrade or improvement.

     Section 2.4 Cooperation. The Manager shall, in a timely manner, take all such actions
as may be reasonably necessary or desirable in order to enable or assist AllianceBernstein in the
provision of the Facilities and Services, including providing necessary information and specific
written authorizations and consents, and AllianceBernstein shall be relieved of its obligations
hereunder to the extent that the Manager’s failure to take any such action renders performance by
AllianceBernstein of such obligations unlawful or impracticable.

     Section 2.5 Personnel and Subcontracting of Services. In providing the Facilities and
Services, AllianceBernstein, as it deems necessary or appropriate in its sole discretion, may
(a) use the personnel of AllianceBernstein or its affiliates and (b) employ on a short-term or
long-term basis the

- 2 -

 

services of third parties to the extent such third party services are reasonably necessary for
the efficient performance of any of such Services or provision of any Facilities.

ARTICLE III

TERM AND TERMINATION

     Section 3.1 Term.

     (a) This Agreement shall become effective on the date hereof and shall remain in force until
the earlier to occur of (1) the termination of the Management Agreement and (2) the expiration and
non-renewal of the term of the Management Agreement (the “Term”).

     (b) The Manager may discontinue using any Facility or Service and delete such Facility or
Service that AllianceBernstein is providing from Schedule A by giving AllianceBernstein
ninety (90) days notice thereof. In the event any Facility or Service is terminated by the
Manager, Schedule A shall be amended to reflect the deletion of the Facility or Service.

     Section 3.2 Effect of Termination.

     (a) The Manager specifically agrees and acknowledges that all obligations of AllianceBernstein
hereunder shall immediately cease upon the expiration of the Term as described in Section 3.1(a)
above, provided, however, that AllianceBernstein shall continue to provide to the Manager any
services necessary for the Manager to discharge any of the Manager’s obligations to the Company
following termination of the Management Agreement. Upon the cessation of AllianceBernstein’s
obligation to provide any Facilities or Services, the Manager shall immediately cease using,
directly or indirectly, such Facility or Service (including any and all software of
AllianceBernstein or third party software provided through AllianceBernstein, telecommunications
services or equipment, or computer systems or equipment).

     (b) Upon termination of a Facility or Service with respect to which AllianceBernstein holds
books, records or files, including current or archived copies of computer files, owned by or
evidencing business, investment, financial and/or operational information of the Company or the
Manager, AllianceBernstein will return all of such books, records or files to the Company or the
Manager, respectively, as soon as reasonably practicable as well as comply with any reasonable
request for cooperation made by the Company or the Manager for AllianceBernstein to assist it or a
new manager of the Company in accessing, understanding and utilizing such books, records or files;
provided, however, that AllianceBernstein may make a copy, at its expense, of such books, records
or files for archival purposes only.

     (c) Without prejudice to the survival of the other agreements of the parties, the following
obligations shall survive the termination of this Agreement: the obligations of each party under
Sections 3.2(a) and 3.2(b), Article IV and Sections 5.2, 5.8, 5.9, 5.10, 5.14 and 5.16.

ARTICLE IV

COMPENSATION

     Section 4.1 Compensation. The parties acknowledge that, as a result of
AllianceBernstein’s majority ownership of the Manager, pursuant to the Advisory Agreement
AllianceBernstein will be entitled to consideration from the Manager, to be funded from the
compensation received by the Manager

- 3 -

 

from the Company pursuant to the Management Agreement. The parties further acknowledge that
such consideration payable by the Manager to AllianceBernstein under the Advisory Agreement
constitutes full and adequate consideration for the performance of the obligations of
AllianceBernstein hereunder. Accordingly, no direct compensation or consideration shall be payable
to AllianceBernstein for the performance of its obligations hereunder.

ARTICLE V

MISCELLANEOUS

     Section 5.1 Representations and Warranties. Each of the parties to this Agreement
represents and warrants to the other party that it has the requisite limited liability company
power and authority to enter into this Agreement and to consummate the transactions contemplated by
this Agreement. Each of the parties to this Agreement further represents and warrants to the other
party that the execution and delivery of this Agreement by such first party and the consummation by
such party of the transactions contemplated hereby and thereby have been duly authorized by all
necessary action on the part of such party.

     Section 5.2 Indemnification.

     (a) Indemnification by AllianceBernstein AllianceBernstein shall, to the full extent
lawful, reimburse, indemnify and hold the Manager, its members, officers and employees and each
other Person, if any, controlling the Manager, harmless for and from any and all expenses, losses,
damages, liabilities, demands, charges and claims of any nature whatsoever (including reasonable
attorneys’ fees and disbursements), in respect of or arising out of AllianceBernstein’s or any of
its members’, directors’, officers’, employees’, subcontractors’ or other third party’s bad faith,
willful misconduct or gross negligence resulting in a material breach (beyond any applicable cure
period) of AllianceBernstein’s obligations under this Agreement.

     (b) Indemnification by the Manager. The Manager shall, to the full extent lawful,
reimburse, indemnify and hold each of AllianceBernstein, its shareholders, partners, directors,
officers and employees and each other Person, if any, controlling AllianceBernstein harmless for
and from any and all losses, damages, liabilities, demands, charges and claims of any nature
whatsoever (and any expenses relating thereto, including reasonable attorneys’ fees and
disbursements) in respect of or arising out of AllianceBernstein’s performance of the services for
the Manager provided hereunder; provided that such loss was not caused by AllianceBernstein’s or
any of its shareholders’, directors’, partners’, officers’ or employees’ bad faith, willful
misconduct, gross negligence or material breach (beyond any applicable cure period) of its duties
under this Agreement.

     Section 5.3 Notices.

     All notices, requests and other communications to any party hereunder shall be in writing
(including facsimile transmission) and shall be given (i) by personal delivery to the appropriate
address as set forth below (or at such other address for the party as shall have been previously
specified in writing to the other party), (ii) by reliable overnight courier service (with
confirmation) to the appropriate address as set forth below (or at such other address for the party
as shall have been previously specified in writing to the other party), or (iii) by facsimile
transmission (with confirmation) to the appropriate facsimile number set forth below (or at such
other facsimile number for the party as shall have been previously specified in writing to the
other party) with follow-up copy by reliable overnight courier service the next business day:

- 4 -

 

     If to AllianceBernstein, to:

AllianceBernstein L.P.

1345 Avenue of The Americas

New York, NY 10105

Attention: Frank Bruttomesso

Telephone: (212) 969-1646

Facsimile: (212) 969-1334

     If to the Manager, to:

Foursquare Capital Management, LLC

1345 Avenue of The Americas

New York, NY 10105

Attention: Chief Financial Officer

Telephone: (212) 969-1646

Facsimile: (212) 969-1334

     All such notices, requests and other communications shall be deemed received on the date of
receipt by the recipient thereof if received prior to 5 p.m. (New York City time) and such day is a
business day in the place of receipt. Otherwise, any such notice, request or communication shall
be deemed not to have been received until the next succeeding business day in the place of receipt.

     Section 5.4 Amendments and Waivers. Subject to the provisions of Section 5.19, this
Agreement (including Schedule A) may not be modified or amended except by an instrument or
instruments in writing signed by an authorized officer of each party. Except as otherwise provided
in this Agreement, any failure of any of the parties to comply with any obligation, covenant,
agreement or condition herein may be waived by the party entitled to the benefits thereof only by a
written instrument signed by an authorized officer of the party granting such waiver, but such
waiver or failure to insist upon strict compliance with such obligation, covenant, agreement or
condition shall not operate as a waiver of, or estoppel with respect to, any subsequent or other
failure.

     Section 5.5 Headings. The table of contents and the article, section, paragraph and
other headings contained in this Agreement are inserted for convenience of reference only and shall
not affect in any way the meaning or interpretation of this Agreement.

     Section 5.6 Counterparts. This Agreement may be executed in two or more counterparts,
each of which shall be deemed to be an original, but all of which together shall constitute one and
the same agreement.

     Section 5.7 Entire Agreement. This Agreement and the Schedules hereto constitute the
entire agreement between the parties hereto with respect to the subject matter hereof, and
supersede and cancel all prior agreements, negotiations, correspondence, undertakings,
understandings and communications of the parties, oral and written, with respect to the subject
matter hereof.

     Section 5.8 Governing Law. THIS AGREEMENT, INCLUDING ALL MATTERS OF CONSTRUCTION,
VALIDITY AND PERFORMANCE, SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE
STATE OF NEW YORK, WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OR CHOICE OF LAWS.

- 5 -

 

     Section 5.9 Resolution of Disputes. All disputes arising out of or relating to this
Agreement or the breach, termination or validity thereof or the parties’ performance hereunder
(“Dispute”) shall be resolved as provided by this Section 5.9.

     (a) Negotiation of Disputes.

          (i) Any party shall give the other party written notice of any Dispute. The parties shall
attempt to resolve such Dispute promptly by negotiation between executive officers (or the
equivalent) who have authority to settle the Dispute and who are at a higher level of management
than the persons with direct responsibilities for administration of this Agreement.

          (ii) Within 15 days after delivery of the notice, the party receiving the notice shall submit
to the other a written response. The notice and the response shall include: (A) a statement of
each party’s position and a summary of arguments supporting that position and (B) the name and
title of the executive officer (or the equivalent) who will represent that party and of any other
person who will accompany the executive officer (or the equivalent) during the negotiations.
Within 30 days after delivery of the disputing party’s notice, the executive officers (or the
equivalent) of both parties shall meet at a mutually acceptable time and place, and thereafter as
often as they reasonably deem necessary, to attempt to resolve the Dispute.

     (b) Arbitration.

          (i) If the Dispute has not been resolved by negotiation between the executive officers (or the
equivalent) within 45 days of the disputing party’s notice requesting negotiation, or if the
parties fail to meet within 30 days from delivery of said notice, such Dispute shall on the demand
of any party, be finally settled under the Rules of Arbitration of the Center for Public Resources
(“CPR”) then in effect, except as modified herein or by mutual agreement of the parties.

          (ii) The arbitration shall be held in New York, New York. The arbitration proceedings shall
be conducted, and the award shall be rendered, in the English language.

          (iii) There shall be three arbitrators selected pursuant to the CPR rules from the CPR
national and regional panels. All arbitrators shall be neutral, disinterested, independent and
impartial.

          (iv) In rendering an award, the arbitral tribunal shall be required to follow the substantive
law of the jurisdiction designated by the parties herein. This arbitration agreement and any award
rendered thereunder shall be governed by the United Nations Convention on the Recognition and
Enforcement of Foreign Arbitral Awards, 1958, and the Federal Arbitration Act, 9 USC (Section) 1 et
seq. The arbitral tribunal shall not be empowered to award damages in excess of compensatory
damages except in the case of fraud, and each party hereby irrevocably waives any right to recover
punitive, exemplary or similar damages with respect to any dispute except in the case of fraud.

          (v) The award shall be final and binding upon the parties and shall be the sole and exclusive
remedy between the parties with regard to any claim or counterclaim submitted to the arbitral
tribunal. Judgment upon any award may be entered in any court having jurisdiction thereof.

          (vi) By agreeing to arbitration, the parties do not intend to deprive any court of its
jurisdiction to issue a pre-arbitral injunction, pre-arbitral attachment or other order in aid of
arbitration proceedings and the enforcement of any award. Without prejudice to such provisional
remedies as may be available under the jurisdiction of a national court, the arbitral tribunal
shall have full authority to grant provisional remedies or to order the parties to request that a
court modify or vacate any temporary or

- 6 -

 

preliminary relief issued by a such court, and to award damages for the failure of any party
to respect the arbitral tribunal’s orders to that effect. The parties hereby unconditionally and
irrevocably submit to the non-exclusive jurisdiction of the state or federal courts located in New
York, New York for the purpose of any preliminary relief in aid of arbitration, or for enforcement
of any award, and hereby waive any objection to such jurisdiction including without limitation
objections by reason of lack of personal jurisdiction, improper venue, or inconvenient forum.

     (c) Notwithstanding the foregoing, any Dispute regarding the following is not required to be
negotiated or arbitrated prior to seeking relief from a court of competent jurisdiction: breach of
any obligation of confidentiality, infringement, misappropriation or misuse of any intellectual
property right. The parties acknowledge that their remedies at law for such a breach or threatened
breach would be inadequate and, in recognition of this fact, upon such breach or threatened breach,
either party, without posting any bond, and in addition to all other remedies which may be
available, shall be entitled to immediately seek or obtain equitable relief in the form of specific
performance, a temporary restraining order, a temporary or permanent injunction or any other
equitable remedy which may then be available.

     Section 5.10 Waiver of Jury Trial. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY
WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATED TO THIS
AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY.

     Section 5.11 Assignment. This Agreement may not be assigned by either party without
the written consent of the other party and the Company. No such assignment shall relieve either
party of any of its rights and obligations hereunder.

     Section 5.12 Binding Nature. This Agreement shall be binding upon and inure solely to
the benefit of the parties hereto and their respective successors and permitted assigns.

     Section 5.13 Severability. This Agreement shall be deemed severable; the invalidity
or unenforceability of any term or provision of this Agreement shall not affect the validity or
enforceability of this Agreement or of any other term hereof, which shall remain in full force and
effect, for so long as the economic or legal substance of the transactions contemplated by this
Agreement is not affected in any manner materially adverse to any party. If it is ever held that
any restriction hereunder is too broad to permit enforcement of such restriction to its fullest
extent, each party agrees that such restriction may be enforced to the maximum extent permitted by
law, and each party hereby consents and agrees that such scope may be judicially modified
accordingly in any proceeding brought to enforce such restriction.

     Section 5.14 No Right of Setoff. Neither party hereto nor any affiliate thereof may
deduct from, set off, holdback or otherwise reduce in any manner whatsoever against any amounts
such Person may owe to the other party hereto or any of it affiliates any amounts owed by such
other party or its affiliates to the first party or its affiliates.

     Section 5.15 Specific Performance. The parties hereto agree that irreparable damage
would occur in the event that any provision of this Agreement was not performed in accordance with
the terms hereof and that the parties shall be entitled to specific performance of the terms
hereof, in addition to any other remedy at law or equity.

     Section 5.16 Construction.

     (a) For the purposes hereof, (i) words in the singular shall be held to include the plural and
vice versa and words of one gender shall be held to include the other genders as the context
requires,

- 7 -

 

(ii) the words “hereof,” “herein,” and “herewith” and words of similar import shall, unless
otherwise stated, be construed to refer to this Agreement as a whole (including the Schedules
hereto) and not to any particular provision of this Agreement, and article, section, paragraph,
exhibit and Schedule references are to the articles, sections, paragraphs, and exhibits and
Schedules of this Agreement unless otherwise specified, (iii) the words “including” and words of
similar import when used in this Agreement shall mean “including, without limitation,” unless
otherwise specified, (iv) the word “or” shall not be exclusive and (v) AllianceBernstein and the
Manager will be referred to herein individually as a “party” and collectively as “parties” (except
where the context otherwise requires).

     (b) The parties have participated jointly in the negotiation and drafting of this Agreement.
In the event an ambiguity or question of intent or interpretation arises, this Agreement shall be
construed as if drafted jointly by the parties and no presumption or burden of proof shall arise
favoring or disfavoring any party by virtue of the authorship of any provisions of this Agreement.

     (c) Any reference to any federal, state, local or non-U.S. statute or law shall be deemed also
to refer to all rules and regulations promulgated thereunder, unless the context otherwise
requires.

     Section 5.17 Management Agreement. AllianceBernstein acknowledges that it has
received and reviewed a copy of the Management Agreement and understands the services required of
the Manager thereunder.

     Section 5.18 Confidentiality. AllianceBernstein agrees to maintain in confidence any
information received by AllianceBernstein regarding the Company, its business and assets; provided,
however, that AllianceBernstein’s confidentiality obligations do not apply to information which
(i) was or becomes generally available to the public on a non-confidential basis, (ii) was within
AllianceBernstein’s possession, custody or control prior to it being furnished to AllianceBernstein
by or on behalf of the Company, or (iii) AllianceBernstein is compelled to disclose by judicial or
administrative requirements of law.

     Section 5.19 Third-Party Beneficiary. The parties agree that the Company shall be a
third-party beneficiary of this Agreement and shall be entitled to enforce the terms hereof as if a
party hereto and shall be subject to the terms and conditions of Sections 5.9 and 5.10 in
connection with the enforcement of such terms. No amendment or modification or waiver may be made
or given with respect to this Agreement without the prior written consent of the Company.

     Except as set forth in Section 5.19, nothing in this Agreement, express or implied, is
intended to or shall confer upon any other Person or Persons any rights, benefits or remedies of
any nature whatsoever under or by reason of this Agreement.

- 8 -

 

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

	 	 	 	 	 	 	 	 	 	 	 
	 	 	FOURSQUARE CAPITAL MANAGEMENT, LLC	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	By:	 	AllianceBernstein L.P., its sole member	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	By:	 	AllianceBernstein Corporation	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	By:	 	 	 	 
	 

	 	 	 	 	 	 	 	 

Name:
	 	 
	 

	 	 	 	 	 	 	 	Title:	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	ALLIANCEBERNSTEIN L.P.	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	By:	 	AllianceBernstein Corporation, its general partner	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	By:	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	Name:	 	 	 	 
	 

	 	 	 	 	 	Title:	 	 	 	 

[Signature
Page to Administrative Services Agreement]

 

 

SCHEDULE A

	 	 	 	 	 
	Facilities:	 	Summary Description of Services:
	Office Space at:	 	Location Services
	1345 Avenue of The Americas

	 	–    Fully furnished office space;
	 	 
	New York, NY 10105

	 	–    Access to file space, printers, copiers, kitchen and
	 	 
	Telephone: (212) 969 1646

	 	      conference room facilities; and	 	 
	Facsimile: (212) 969 1334
	 	–    Receptionist and secretarial services.
	 	 
	 
	 	 	 	 
	 	 	Management Services
	 

	 	–    Portfolio management;
	 	 
	 

	 	–    Asset and securities valuation;
	 	 
	 

	 	–    Risk management;
	 	 
	 

	 	–    Asset management services;
	 	 
	 

	 	–    Trade allocation and execution;
	 	 
	 

	 	–    Legal, compliance functions;
	 	 
	 

	 	–    Investor relations;
	 	 
	 

	 	–    Information technologies;
	 	 
	 

	 	–    Monitoring services; and
	 	 
	 

	 	–    [Obtaining and structuring warehouse facilities and other financing arrangements.]
	 	 
	 
	 	 	 	 
	 	 	Personnel Services
	 

	 	–    Providing sufficient personnel resources to enable the Manager to perform its obligations
under the Management Agreement, [including the
dedicated resources of one person to act as
the Chief Investment Officer, and another
person to act as the Chief Financial Officer,
of the Manager and the Company, as approved by
a majority of the independent directors of the
Company.]
	 	 

A-1exv10w11

Exhibit 10.11

FORM OF

FOURSQUARE CAPITAL CORP.

2009 EQUITY INCENTIVE PLAN

1. PURPOSE. The Plan is intended to provide incentives to directors, officers, advisors,
consultants, key employees, and others expected to provide significant services to the Company and
its Subsidiaries, including the personnel, employees, officers and directors of the other
Participating Companies, to encourage a proprietary interest in the Company, to encourage such key
personnel to remain in the service of the Company and the other Participating Companies, to
attract new personnel with outstanding qualifications, and to afford additional incentive to
others to increase their efforts in providing significant services to the Company and the other
Participating Companies. In furtherance thereof, the Plan permits awards of equity-based
incentives to key personnel, employees, officers and directors of, and certain other providers of
services to, the Company or any other Participating Company.

2. DEFINITIONS. As used in this Plan, the following definitions apply:

     “Act” shall mean the Securities Act of 1933, as amended.

     “Award Agreement” shall mean a written agreement evidencing a Grant pursuant to the Plan.

     “Board” shall mean the Board of Directors of the Company.

     “Cause” shall mean, unless otherwise provided in the Grantee’s Award Agreement, (i) engaging
in (A) willful or gross misconduct or (B) willful or gross neglect, (ii) repeatedly failing to
adhere to the directions of superiors or the Board or the written policies and practices of the
Company, the Subsidiaries, the Manager or any of their respective affiliates, (iii) the commission
of a felony or a crime of moral turpitude, or any crime involving the Company, the Subsidiaries,
the Manager or any of their respective affiliates, (iv) fraud, misappropriation, embezzlement or
material or repeated insubordination, (v) a material breach of the Grantee’s employment agreement
(if any) with the Company, the Subsidiaries, the Manager or any of their respective affiliates
(other than a termination of employment by the Grantee), or (vi) any illegal act detrimental to the
Company; the Subsidiaries, the Manager or any of their respective affiliates, all as determined by
the Committee.

     “Change in Control” means unless otherwise provided in an Award Agreement the happening of any
of the following:

     (i) any “person,” including a “group” (as such terms are used in Sections 13(d) and 14(d) of
the Exchange Act, but excluding the Company, any entity controlling, controlled by or under common
control with the Company, any trustee, fiduciary or other person or entity holding securities under
any employee benefit plan or trust of the Company or any such entity, and, with respect to any
particular Participant, the Participant and any “group” (as such term is used in Section 13(d)(3)
of the Exchange Act) of which the Participant is a member), is or becomes the “beneficial owner”
(as defined in Rule 13(d)(3) under the Exchange Act), directly or indirectly, of securities of the
Company representing 50% or more of either (A) the combined voting power of the Company’s then
outstanding securities or (B) the then outstanding Shares (in either such case other than as a
result of an acquisition of securities directly from the Company); or

 

 

     (ii) any consolidation or merger of the Company where the shareholders of the Company,
immediately prior to the consolidation or merger, would not, immediately after the consolidation or
merger, beneficially own (as such term is defined in Rule 13d-3 under the Exchange Act), directly
or indirectly, shares representing in the aggregate 50% or more of the combined voting power of the
securities of the corporation issuing cash or securities in the consolidation or merger (or of its
ultimate parent corporation, if any); or

     (iii) there shall occur (A) any sale, lease, exchange or other transfer (in one transaction or
a series of transactions contemplated or arranged by any party as a single plan) of all or
substantially all of the assets of the Company, other than a sale or disposition by the Company of
all or substantially all of the Company’s assets to an entity, at least 50% of the combined voting
power of the voting securities of which are owned by “persons” (as defined above) in substantially
the same proportion as their ownership of the Company immediately prior to such sale or (B) the
approval by shareholders of the Company of any plan or proposal for the liquidation or dissolution
of the Company; or

     (iv) the members of the Board at the beginning of any consecutive 24-calendar-month period
(the “Incumbent Directors”) cease for any reason other than due to death to constitute at least a
majority of the members of the Board; provided that any Director whose election, or nomination for
election by the Company’s shareholders, was approved or ratified by a vote of at least a majority
of the members of the Board then still in office who were members of the Board at the beginning of
such 24-calendar-month period, shall be deemed to be an Incumbent Director.

     Notwithstanding the foregoing, no event or condition shall constitute a Change in Control to the
extent that, if it were, a 20% tax would be imposed under Section 409A of the Code; provided that,
in such a case, the event or condition shall continue to constitute a Change in Control to the
maximum extent possible (e.g., if applicable, in respect of vesting without an acceleration of
distribution) without causing the imposition of such 20% tax.

     “Code” shall mean the Internal Revenue Code of 1986, as amended.

     “Committee” shall mean the Compensation Committee of the Company as appointed by the Board in
accordance with Section 4 of the Plan; provided, however, that the Committee shall at all times
consist solely of persons who, at the time of their appointment, each qualified as a “Non-Employee
Director” under Rule 16b-3(b)(3)(i) promulgated under the Exchange Act and, to the extent that
relief from the limitation of Section 162(m) of the Code is sought, as an “Outside Director” under
Section 1.162-27(e)(3)(i) of the Treasury Regulations.

     “Common Stock” shall mean the Company’s common stock, par value $0.01 per share, either
currently existing or authorized hereafter.

     “Company” shall mean Foursquare Capital Corp., a Maryland corporation.

     “DER” shall mean a right awarded under Section 11 of the Plan to receive (or have credited)
the equivalent value (in cash or Shares) of dividends paid on Common Stock.

     “Disability” shall mean, unless otherwise provided by the Committee in the Grantee’s Award
Agreement, the occurrence of an event which would entitle the Grantee to the payment of disability
income under an approved long-term disability income plan or a long-term disability as determined
by the Committee in its absolute discretion pursuant to any other standard as may be adopted by the
Committee. Notwithstanding the foregoing, no circumstances or condition shall constitute a
Disability to the extent that, if it were, a 20% tax would be imposed under Section 409A of the
Code; provided that, in such a

2

 

case, the event or condition shall continue to constitute a Disability to the maximum extent
possible (e.g., if applicable, in respect of vesting without an acceleration of distribution)
without causing the imposition of such 20% tax.

     “Eligible Persons” shall mean officers, directors, advisors, personnel and employees of the
Participating Companies and other persons expected to provide significant services (of a type
expressly approved by the Committee as covered services for these purposes) to one or more of the
Participating Companies. For purposes of the Plan, a consultant, advisor, vendor, customer or
other provider of significant services to the Company or any other Participating Company shall be
deemed to be an Eligible Person, but will be eligible to receive Grants (but in no event Incentive
Stock Options), only after a finding by the Committee in its discretion that the value of the
services rendered or to be rendered to the Participating Company is at least equal to the value of
the Grants being awarded.

     “Employee” shall mean an individual, including an officer of a Participating Company, who is
employed (within the meaning of Code Section 3401 and the regulations thereunder) by the
Participating Company.

     “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended.

     “Exercise Price” shall mean the price per Share of Common Stock, determined by the Board or
the Committee, at which an Option may be exercised.

     “Fair Market Value” shall mean the value of one share of Common Stock, determined as follows:

	 	(i)	 	If the Shares are then listed on a national stock exchange, the closing sales
price per Share on the exchange for the last preceding date on which there was a sale
of Shares on such exchange, as determined by the Committee.
	 
	 	(ii)	 	If the Shares are not then listed on a national stock exchange but are then
traded on an over-the-counter market, the average of the closing bid and asked prices
for the Shares in such over-the-counter market for the last preceding date on which
there was a sale of such Shares in such market, as determined by the Committee.
	 
	 	(iii)	 	If neither (i) nor (ii) applies, such value as the Committee in its discretion
may in good faith determine. Notwithstanding the foregoing, where the Shares are
listed or traded, the Committee may make discretionary determinations in good faith
where the Shares have not been traded for 10 trading days.

Notwithstanding the foregoing, with respect to any “stock right” within the meaning of Section 409A
of the Code, Fair Market Value shall not be less than the “fair market value” of the shares of
Common Stock determined in accordance with the final regulations promulgated under Section 409A of
the Code.

     “Grant” shall mean the issuance of an Incentive Stock Option, Non-qualified Stock Option,
Restricted Stock, Phantom Share, DER, or other equity-based grant as contemplated herein or any
combination thereof as applicable to an Eligible Person. The Committee will determine the
eligibility of personnel, employees, officers, directors and others expected to provide significant
services to the Participating Companies based on, among other factors, the position and
responsibilities of such individuals, the nature and value to the Participating Company of such
individuals’ accomplishments and potential contribution to the success of the Participating Company
whether directly or through its subsidiaries.

3

 

     “Grantee” shall mean an Eligible Person to whom Options, Restricted Stock, Phantom Shares,
DERs, or other equity-based awards are granted hereunder.

     “Incentive Stock Option” shall mean an Option of the type described in Section 422(b) of the
Code issued to an Employee of (i) the Company, or (ii) a “subsidiary corporation” or a “parent
corporation” as defined in Section 424(f) of the Code.

     “Manager” shall mean Foursquare Capital Management, LLC, the Company’s manager.

     “Non-qualified Stock Option” shall mean an Option not described in Section 422(b) of the Code.

     “Option” shall mean any option, whether an Incentive Stock Option or a Non-qualified Stock
Option, to purchase, at a price and for the term fixed by the Committee in accordance with the
Plan, and subject to such other limitations and restrictions in the Plan and the applicable Award
Agreement, a number of Shares determined by the Committee.

     “Optionee” shall mean any Eligible Person to whom an Option is granted, or the Successors of
the Optionee, as the context so requires.

     “Participating Companies” shall mean the Company, the Subsidiaries, the Manager and any of
their respective affiliates, and any joint venture affiliate of the Company, which with the consent
of the Board participates in the Plan.

     “Performance Goals” has the meaning set forth in Section 13.

     “Phantom Share” shall mean a right, pursuant to the Plan, of the Grantee to payment of the
Phantom Share Value.

     “Phantom Share Value,” per Phantom Share, shall mean the Fair Market Value of a Share or, if
so provided by the Committee, such Fair Market Value to the extent in excess of a base value
established by the Committee at the time of grant.

     “Plan” shall mean the Company’s 2009 Equity Incentive Plan, as set forth herein, and as the
same may from time to time be amended.

     “Purchase Price” shall mean the Exercise Price times the number of Shares with respect to
which an Option is exercised.

     “Restricted Stock” shall mean an award of Shares that are subject to restrictions hereunder.

     “Retirement” shall mean, unless otherwise provided by the Committee in the Grantee’s Award
Agreement, the Termination of Service (other than for Cause) of a Grantee:

	 	(i)	 	on or after the Grantee’s attainment of age 65;
	 
	 	(ii)	 	on or after the Grantee’s attainment of age 55 with five consecutive years of
service with the Participating Companies; or
	 
	 	(iii)	 	as determined by the Committee in its absolute discretion pursuant to such
other standard as may be adopted by the Committee.

4

 

     “Shares” shall mean shares of Common Stock of the Company, adjusted in accordance with
Section 15 of the Plan (if applicable).

     “Subsidiary” shall mean any corporation, partnership, limited liability company or other
entity at least 50% of the economic interest in the equity of which is owned, directly or
indirectly, by the Company or by another subsidiary.

     “Successors of the Optionee” shall mean the legal representative of the estate of a deceased
Optionee or the person or persons who shall acquire the right to exercise an Option by bequest or
inheritance or by reason of the death of the Optionee.

     “Termination of Service” shall mean the time when the employee-employer relationship or
directorship, or other service relationship (sufficient to constitute service as an Eligible
Person), between the Grantee and the Participating Companies is terminated for any reason, with or
without Cause, including, but not limited to, any termination by resignation, discharge, death or
Retirement; provided, however, Termination of Service shall not include a termination where there
is a simultaneous continuation of service of the Grantee (sufficient to constitute service as an
Eligible Person) for a Participating Company. The Committee, in its absolute discretion, shall
determine the effects of all matters and questions relating to Termination of Service, including,
but not limited to, the question of whether any Termination of Service was for Cause and all
questions of whether particular leaves of absence constitute Terminations of Service. For this
purpose, the service relationship shall be treated as continuing intact while the Grantee is on
military leave, sick leave or other bona fide leave of absence (to be determined in the discretion
of the Committee).

3. EFFECTIVE DATE. The effective date of the Plan is [                     ___], 2009. The Plan shall
not become effective unless and until it is approved by the requisite percentage of the holders of
the Common Stock of the Company. The Plan shall terminate on, and no award shall be granted
hereunder on or after, the 10-year anniversary of the earlier of the approval of the Plan by (i)
the Board or (ii) the shareholders of the Company; provided, however, that the Board may at any
time prior to that date terminate the Plan.

4. ADMINISTRATION.

     (a) Membership on Committee. The Plan shall be administered by the Committee appointed by the
Board. If no Committee is designated by the Board to act for those purposes, the full Board shall
have the rights and responsibilities of the Committee hereunder and under the Award Agreements.

     (b) Committee Meetings. The acts of a majority of the members present at any meeting of the
Committee at which a quorum is present, or acts approved in writing by a majority of the entire
Committee, shall be the acts of the Committee for purposes of the Plan. If and to the extent
applicable, no member of the Committee may act as to matters under the Plan specifically relating
to such member.

     (c) Grant of Awards.

	 	(i)	 	The Committee shall from time to time at its discretion select
the Eligible Persons who are to be issued Grants and determine the number and
type of Grants to be issued under any Award Agreement to an Eligible Person.
In particular, the Committee shall (A) determine the terms and conditions, not
inconsistent with the terms of the Plan, of any Grants awarded hereunder
(including, but not limited to the performance goals and periods applicable to
the award of Grants); (B) determine the time or times when and the manner and

5

 

	 	 	 	condition in which each Option shall be exercisable and the duration of the
exercise period; and (C) determine or impose other conditions to the Grant
or exercise of Options under the Plan as it may deem appropriate. The
Committee may establish such rules, regulations and procedures for the
administration of the Plan as it deems appropriate, determine the extent, if
any, to which Options, Phantom Shares, Shares (whether or not Shares of
Restricted Stock), DERs, or other equity-based awards shall be forfeited
(whether or not such forfeiture is expressly contemplated hereunder), and
take any other actions and make any other determinations or decisions that
it deems necessary or appropriate in connection with the Plan or the
administration or interpretation thereof. The Committee shall also cause
each Option to be designated as an Incentive Stock Option or a Non-qualified
Stock Option, except that no Incentive Stock Options may be granted to an
Eligible Person who is not an Employee of the Company or a “subsidiary
corporation” or a “parent corporation” as defined in Section 424(f) of the
Code. The Grantee shall take whatever additional actions and execute
whatever additional documents the Committee may in its reasonable judgment
deem necessary or advisable in order to carry or effect one or more of the
obligations or restrictions imposed on the Grantee pursuant to the express
provisions of the Plan and the Award Agreement. DERs will be exercisable
separately or together with Options, and paid in cash or other consideration
at such times and in accordance with such rules, as the Committee shall
determine in its discretion. Unless expressly provided hereunder, the
Committee, with respect to any Grant, may exercise its discretion hereunder
at the time of the award or thereafter. The Committee shall have the right
and responsibility to interpret the Plan and the interpretation and
construction by the Committee of any provision of the Plan or of any Grant
thereunder, including, without limitation, in the event of a dispute, shall
be final and binding on all Grantees and other persons to the maximum extent
permitted by law. Without limiting the generality of Section 24, no member
of the Committee shall be liable for any action or determination made in
good faith with respect to the Plan or any Grant hereunder.
	 	(ii)	 	Notwithstanding clause (i) of this Section 4(c), any award
under the Plan to an Eligible Person who is a member of the Committee shall be
made by the full Board, but for these purposes the directors of the Corporation
who are on the Committee shall be required to be recused in respect of such
awards and shall not be permitted to vote.

     (d) Awards.

	 	(i)	 	Agreements. Grants to Eligible Persons shall be evidenced by
written Award Agreements in such form as the Committee shall from time to time
determine (which Award Agreements need not be in the same form as any other
Award Agreement evidencing Grants under the Plan and need not contain terms and
conditions identical to those applicable to any other Grant under the Plan or
to those applicable to any other Eligible Persons). Such Award Agreements
shall comply with and be subject to the terms and conditions set forth below.
	 
	 	(ii)	 	Number of Shares. Each Grant issued to an Eligible Person
shall state the number of Shares to which it pertains or which otherwise
underlie the Grant and

6

 

	 	 	 	shall provide for the adjustment thereof in accordance with the provisions
of Section 15 hereof.
	 
	 	(iii)	 	Grants. Subject to the terms and conditions of the Plan and
consistent with the Company’s intention for the Committee to exercise the
greatest permissible flexibility under Rule 16b-3 under the Exchange Act in
awarding Grants, the Committee shall have the power:

	 	(1)	 	to determine from time to time the Grants to be
issued to Eligible Persons under the Plan and to prescribe the terms
and provisions (which need not be identical) of Grants issued under the
Plan to such persons;
	 
	 	(2)	 	to construe and interpret the Plan and the
Grants thereunder and to establish, amend and revoke the rules,
regulations and procedures established for the administration of the
Plan. In this connection, the Committee may correct any defect or
supply any omission, or reconcile any inconsistency in the Plan, in any
Award Agreement, or in any related agreements, in the manner and to the
extent it shall deem necessary or expedient to make the Plan fully
effective. All decisions and determinations by the Committee in the
exercise of this power shall be final and binding upon the
Participating Companies and the Grantees;
	 
	 	(3)	 	to amend any outstanding Grant, subject to
Section 17, and to accelerate or extend the vesting or exercisability
of any Grant (in compliance with Section 409A of the Code, if
applicable) and to waive conditions or restrictions on any Grants, to
the extent it shall deem appropriate; and
	 
	 	(4)	 	generally to exercise such powers and to
perform such acts as are deemed necessary or expedient to promote the
best interests of the Company with respect to the Plan.

5. PARTICIPATION.

     (a) Eligibility. Only Eligible Persons shall be eligible to receive Grants under the Plan.

     (b) Limitation of Ownership. No Grants shall be issued under the Plan to any person who after
such Grant would beneficially own more than 9.8% of the outstanding shares of Common Stock of the
Company, unless the foregoing restriction is expressly and specifically waived by action of the
independent directors of the Board.

     (c) Stock Ownership. For purposes of Section 5(b) above, in determining stock ownership a
Grantee shall be considered as owning the stock owned, directly or indirectly, by or for his
brothers, sisters, spouses, ancestors and lineal descendants. Stock owned, directly or indirectly,
by or for a corporation, partnership, estate or trust shall be considered as being owned
proportionately by or for its stockholders, partners or beneficiaries. Stock with respect to which
any person holds an Option shall be considered to be owned by such person.

     (d) Outstanding Stock. For purposes of Section 5(b) above, “outstanding shares” shall include
all stock actually issued and outstanding immediately after the issue of the Grant to the Grantee.
With respect to the stock ownership of any Grantee, “outstanding shares” shall include shares
authorized for issue under outstanding Options held by such Grantee, but not options held by any
other person.

7

 

     6. STOCK. Subject to adjustments pursuant to Section 15, Grants with respect to an
aggregate of no more than [                    ] Shares may be granted under the Plan; provided, that no Grant
may cause the total number of shares of Common Stock subject to all outstanding awards to exceed
[___]% of the issued and outstanding shares of Common Stock on a fully diluted basis (assuming, if
applicable, the exercise of all outstanding Options and the conversion of all warrants, and
convertible securities into shares of Common Stock). Subject to adjustments pursuant to
Section 15, (i) the maximum number of Shares with respect to which any Options may be granted in
any one year to any Grantee shall not exceed [                    ], (ii) the maximum number of Shares that may
underlie Grants, other than Grants of Options, in any one year to any Grantee shall not exceed
[                    ], and (iii) the maximum number of Shares with respect to which Incentive Stock Options may
be granted over the life of the Plan shall not exceed [                    ]. Notwithstanding the first
sentence of this Section 6, (i) Shares that have been granted as Restricted Stock or that have
been reserved for distribution in payment for Options or Phantom Shares but are later forfeited or
for any other reason are not payable under the Plan; and (ii) Shares as to which an Option is
granted under the Plan that remains unexercised at the expiration, forfeiture or other termination
of such Option, may be the subject of the issue of further Grants. Shares of Common Stock issued
hereunder may consist, in whole or in part, of authorized and unissued shares, treasury shares or
previously issued Shares under the Plan. The certificates for Shares issued hereunder may include
any legend which the Committee deems appropriate to reflect any restrictions on transfer hereunder
or under the Award Agreement, or as the Committee may otherwise deem appropriate. Shares subject
to DERs, other than DERs based directly on the dividends payable with respect to Shares subject to
Options or the dividends payable on a number of Shares corresponding to the number of Phantom
Shares awarded, shall be subject to the limitation of this Section 6. Notwithstanding the
limitations above in this Section 6, except in the case of Grants intended to qualify for relief
from the limitations of Section 162(m) of the Code, there shall be no limit on the number of
Phantom Shares or DERs to the extent they are paid out in cash that may be granted under the Plan.
If any Phantom Shares or DERs are paid out in cash, the underlying Shares may again be made the
subject of Grants under the Plan, notwithstanding the first sentence of this Section 6.

7. TERMS AND CONDITIONS OF OPTIONS.

     (a) Each Award Agreement with an Eligible Person shall state the Exercise Price. The Exercise
Price for any Option shall not be less than the Fair Market Value on the date of Grant.

     (b) Medium and Time of Payment. Except as may otherwise be provided below, the Purchase Price
for each Option granted to an Eligible Person shall be payable in full in United States dollars
upon the exercise of the Option. In the event the Company determines that it is required to
withhold taxes as a result of the exercise of an Option, as a condition to the exercise thereof, an
Employee may be required to make arrangements satisfactory to the Company to enable it to satisfy
such withholding requirements in accordance with Section 21. If the applicable Award Agreement so
provides, or the Committee otherwise so permits, the Purchase Price may be paid in one or a
combination of the following:

	 	(i)	 	by a certified or bank cashier’s check;
	 
	 	(ii)	 	by the surrender of shares of Common Stock in good form for
transfer, owned by the person exercising the Option and having a Fair Market
Value on the date of exercise equal to the Purchase Price, or in any
combination of cash and shares of Common Stock, as long as the sum of the cash
so paid and the Fair Market Value of the shares of Common Stock so surrendered
equals the Purchase Price;
	 
	 	(iii)	 	by cancellation of indebtedness owed by the Company to the
Grantee;

8

 

	 	(iv)	 	subject to Section 17(e), by a loan or extension of credit from
the Company evidenced by a full recourse promissory note executed by the
Grantee. The interest rate and other terms and conditions of such note shall
be determined by the Committee (in which case the Committee may require that
the Grantee pledge his or her Shares to the Company for the purpose of securing
the payment of such note, and in no event shall the stock certificate(s)
representing such Shares be released to the Grantee until such note shall have
been paid in full); or
	 
	 	(v)	 	by any combination of such methods of payment or any other
method acceptable to the Committee in its discretion.

Except in the case of Options exercised by certified or bank cashier’s check, the Committee may
impose such limitations and prohibitions on the exercise of Options as it deems appropriate,
including, without limitation, any limitation or prohibition designed to avoid accounting
consequences which may result from the use of Common Stock as payment upon exercise of an Option.
Any fractional shares of Common Stock resulting from a Grantee’s election that are accepted by the
Company shall in the discretion of the Committee be paid in cash.

     (c) Term and Nontransferability of Grants and Options.

	 	(i)	 	Each Option under this Section 7 shall state the time or times
which all or part thereof becomes exercisable, subject to the restrictions set
forth in clauses (ii) through (v) below.
	 
	 	(ii)	 	No Option shall be exercisable except by the Grantee or a
transferee permitted hereunder.
	 
	 	(iii)	 	No Option shall be assignable or transferable, except by will
or the laws of descent and distribution of the state wherein the Grantee is
domiciled at the time of his death; provided, however, that the Committee may
(but need not) permit other transfers, where the Committee concludes that such
transferability (i) does not result in accelerated taxation, (ii) does not
cause any Option intended to be an Incentive Stock Option to fail to be
described in Section 422(b) of the Code and (iii) is otherwise appropriate and
desirable.
	 
	 	(iv)	 	No Option shall be exercisable until such time as set forth in
the applicable Award Agreement (but in no event after the expiration of such
Grant).
	 
	 	(v)	 	The Committee may not modify, extend or renew any Option
granted to any Eligible Person unless such modification, extension or renewal
shall satisfy any and all applicable requirements of Rule 16b-3 under the
Exchange Act and Section 409A of the Code, to the extent applicable. The
foregoing notwithstanding, no modification of an Option shall, without the
consent of the Optionee, alter or impair any rights or obligations under any
Option previously granted.

     (d) Termination of Service, other than by Death, Retirement or Disability. Unless otherwise
provided in the applicable Award Agreement, upon any Termination of Service for any reason other
than his or her death, Retirement or Disability, an Optionee shall have the right, subject to the
restrictions of Section 4(c) above, to exercise his or her Option at any time within three months
after Termination of Service, but only to the extent that, at the date of Termination of Service,
the Optionee’s right to exercise

9

 

such Option had accrued pursuant to the terms of the applicable Award Agreement and had not
previously been exercised; provided, however, that, unless otherwise provided in the applicable
Award Agreement, if there occurs a Termination of Service by a Participating Company for Cause or a
Termination of Service by the Optionee (other than on account of death, Retirement or Disability),
any Option not exercised in full prior to such termination shall be canceled.

     (e) Death of Optionee. Unless otherwise provided in the applicable Award Agreement, if the
Optionee of an Option dies while an Eligible Person or within three months after any Termination of
Service other than for Cause or a Termination of Service by the Optionee (other than on account of
death, Retirement or Disability), and has not fully exercised the Option, then the Option may be
exercised in full, subject to the restrictions of Section 4(c) above, at anytime within [12 months]
after the Optionee’s death, by the Successor of the Optionee, but only to the extent that, at the
date of death, the Optionee’s right to exercise such Option had accrued and had not been forfeited
pursuant to the terms of the Award Agreement and had not previously been exercised.

     (f) Disability or Retirement of Optionee. Unless otherwise provided in the Award Agreement,
upon any Termination of Service for reason of his or her Disability or Retirement, an Optionee
shall have the right, subject to the restrictions of Section 4(c) above, to exercise the Option at
any time within [24 months] after Termination of Service, but only to the extent that, at the date
of Termination of Service, the Optionee’s right to exercise such Option had accrued pursuant to the
terms of the applicable Award Agreement and had not previously been exercised.

     (g) Rights as a Stockholder. An Optionee, a Successor of the Optionee, or the holder of a DER
shall have no rights as a stockholder with respect to any Shares covered by his or her Grant until,
in the case of an Optionee, the date of the issuance of a stock certificate for such Shares. No
adjustment shall be made for dividends (ordinary or extraordinary, whether in cash, securities or
other property), distributions or other rights for which the record date is prior to the date such
stock certificate is issued, except as provided in Section 15.

     (h) Modification, Extension and Renewal of Option. Within the limitations of the Plan, and
only with respect to Options granted to Eligible Persons, the Committee may modify, extend or renew
outstanding Options or accept the cancellation of outstanding Options (to the extent not previously
exercised) for the granting of new Options in substitution therefor (but not including repricings,
in the absence of stockholder approval). The Committee may modify, extend or renew any Option
granted to any Eligible Person, unless such modification, extension or renewal would not satisfy
any applicable requirements of Rule 16b-3 under the Exchange Act and Section 409A of the Code. The
foregoing notwithstanding, no modification of an Option shall, without the consent of the Optionee,
alter or impair any rights or obligations under any Option previously granted.

     (i) Stock Appreciation Rights. The Committee, in its discretion, may (taking into account,
without limitation, the application of Section 409A of the Code, as the Committee may deem
appropriate), also permit the Optionee to elect to exercise an Option by receiving Shares, cash or
a combination thereof, in the discretion of the Committee and as may be set forth in the applicable
Award Agreement, with an aggregate Fair Market Value (or, to the extent of payment in cash, in an
amount) equal to the excess of the Fair Market Value of the Shares with respect to which the Option
is being exercised over the aggregate Purchase Price, as determined as of the day the Option is
exercised.

     (j) Deferral. The Committee may establish a program (taking into account, without limitation,
the application of Section 409A of the Code, as the Committee may deem appropriate) under which
Optionees will have Phantom Shares subject to Section 10 credited upon their exercise of Options,
rather than receiving Shares at that time.

10

 

     (k) Other Provisions. The Award Agreement authorized under the Plan may contain such other
provisions not inconsistent with the terms of the Plan (including, without limitation, restrictions
upon the exercise of the Option) as the Committee shall deem advisable.

8. SPECIAL RULES FOR INCENTIVE STOCK OPTIONS.

     (a) In the case of Incentive Stock Options granted hereunder, the aggregate Fair Market Value
(determined as of the date of the Grant thereof) of the Shares with respect to which Incentive
Stock Options become exercisable by any Optionee for the first time during any calendar year (under
the Plan and all other plans) required to be taken into account under Section 422(d) of the Code
shall not exceed $100,000.

     (b) In the case of an individual described in Section 422(b)(6) of the Code (relating to
certain 10% owners), the Exercise Price with respect to an Incentive Stock Option shall not be less
than 110% of the Fair Market Value of a Share on the day the Option is granted and the term of an
Incentive Stock Option shall be no more than five years from the date of grant.

     (c) If Shares acquired upon exercise of an Incentive Stock Option are disposed of in a
disqualifying disposition within the meaning of Section 422 of the Code by an Optionee prior to the
expiration of either two years from the date of grant of such Option or one year from the transfer
of Shares to the Optionee pursuant to the exercise of such Option, or in any other disqualifying
disposition within the meaning of Section 422 of the Code, such Optionee shall notify the Company
in writing as soon as practicable thereafter of the date and terms of such disposition and, if the
Company thereupon has a tax-withholding obligation, shall pay to the Company an amount equal to any
withholding tax the Company is required to pay as a result of the disqualifying disposition.

9. PROVISIONS APPLICABLE TO RESTRICTED STOCK.

     (a) Vesting Periods. In connection with the grant of Restricted Stock, whether or not
Performance Goals apply thereto, the Committee shall establish one or more vesting periods with
respect to the shares of Restricted Stock granted, the length of which shall be determined in the
discretion of the Committee and set forth in the applicable Award Agreement. Subject to the
provisions of this Section 9, the applicable Award Agreement and the other provisions of the Plan,
restrictions on Restricted Stock shall lapse if the Grantee satisfies all applicable employment or
other service requirements through the end of the applicable vesting period.

     (b) Grant of Restricted Stock. Subject to the other terms of the Plan, the Committee may, in
its discretion as reflected by the terms of the applicable Award Agreement: (i) authorize the
granting of Restricted Stock to Eligible Persons; (ii) provide a specified purchase price for the
Restricted Stock (whether or not the payment of a purchase price is required by any state law
applicable to the Company); (iii) determine the restrictions applicable to Restricted Stock and
(iv) determine or impose other conditions to the grant of Restricted Stock under the Plan as it may
deem appropriate.

     (c) Certificates.

	 	(i)	 	Each Grantee of Restricted Stock may be issued a stock
certificate in respect of Shares of Restricted Stock awarded under the Plan.
Any such certificate shall be registered in the name of the Grantee. Without
limiting the generality of Section 6, in addition to any legend that might
otherwise be required by the Board or the Company’s charter, bylaws or other
applicable documents, the certificates for Shares of Restricted Stock issued
hereunder may include any

11

 

	 	 	 	legend which the Committee deems appropriate to reflect any restrictions on
transfer hereunder or under the applicable Award Agreement, or as the
Committee may otherwise deem appropriate, and, without limiting the
generality of the foregoing, shall bear a legend referring to the terms,
conditions, and restrictions applicable to such Grant, substantially in the
following form:
	 
	 	 	 	THE TRANSFERABILITY OF THIS CERTIFICATE AND THE SHARES OF STOCK REPRESENTED
HEREBY ARE SUBJECT TO THE TERMS AND CONDITIONS (INCLUDING FORFEITURE) OF THE
FOURSQUARE CAPITAL CORP. 2009 EQUITY INCENTIVE PLAN, AND AN AWARD AGREEMENT
ENTERED INTO BETWEEN THE REGISTERED OWNER AND FOURSQUARE CAPITAL CORP.
COPIES OF SUCH PLAN AND AWARD AGREEMENT ARE ON FILE IN THE OFFICES OF
FOURSQUARE CAPITAL CORP. AT 1345 AVENUE OF THE AMERICAS, NEW YORK, NEW YORK
10105.
	 
	 	(ii)	 	The Committee may require that any stock certificates
evidencing such Shares be held in custody by the Company until the restrictions
hereunder shall have lapsed and that, as a condition of any grant of Restricted
Stock, the Grantee shall have delivered a stock power, endorsed in blank,
relating to the stock covered by such Grant. If and when such restrictions so
lapse, the stock certificates shall be delivered by the Company to the Grantee
or his or her designee as provided in Section 9(d).

     (d) Restrictions and Conditions. Unless otherwise provided by the Committee in an Award
Agreement, the Shares of Restricted Stock awarded pursuant to the Plan shall be subject to the
following restrictions and conditions:

	 	(i)	 	Subject to the provisions of the Plan and the applicable Award
Agreement, during a period commencing with the date of such Grant and ending on
the date the period of forfeiture with respect to such Shares lapses, the
Grantee shall not be permitted voluntarily or involuntarily to sell, transfer,
pledge, anticipate, alienate, encumber or assign Shares of Restricted Stock
awarded under the Plan (or have such Shares attached or garnished). Subject to
the provisions of the applicable Award Agreement and clauses (iii) and (iv)
below, the period of forfeiture with respect to Shares granted hereunder shall
lapse as provided in the applicable Award Agreement. Notwithstanding the
foregoing, unless otherwise expressly provided by the Committee, the period of
forfeiture with respect to such Shares shall only lapse as to whole Shares.
	 
	 	(ii)	 	Except as provided in the foregoing clause (i), or in
Section 15, the Grantee shall have, in respect of the Shares of Restricted
Stock, all of the rights of a stockholder of the Company, including the right
to vote the Shares and receive dividends. Certificates for Shares (not subject
to restrictions hereunder) shall be delivered to the Grantee or his or her
designee (or where permitted, transferee) promptly after, and only after, the
period of forfeiture shall lapse without forfeiture in respect of such Shares
of Restricted Stock.
	 
	 	(iii)	 	Termination of Service, Except by Death, Retirement or
Disability. Unless otherwise provided in the applicable Award Agreement, and
subject to clause (iv) below, if the Grantee has a Termination of Service for
Cause or by the Grantee

12

 

	 	 	 	for any reason other than his or her death, Retirement or Disability, during
the applicable period of forfeiture, then (A) all Restricted Stock still
subject to restriction shall thereupon, and with no further action, be
forfeited by the Grantee, and (B) the Company shall pay to the Grantee as
soon as practicable (and in no event more than 30 days) after such
termination an amount equal to the lesser of (x) the amount paid by the
Grantee for such forfeited Restricted Stock as contemplated by Section 9(b),
and (y) the Fair Market Value on the date of termination of the forfeited
Restricted Stock.
	 
	 	(iv)	 	Death, Disability or Retirement of Grantee. Unless otherwise
provided in the applicable Award Agreement, in the event the Grantee has a
Termination of Service on account of his or her death, Disability or
Retirement, or the Grantee has a Termination of Service by the Company for any
reason other than Cause, during the applicable period of forfeiture, then
restrictions under the Plan will immediately lapse on all Restricted Stock
granted to the applicable Grantee.

10. PROVISIONS APPLICABLE TO PHANTOM SHARES.

     (a) Grant of Phantom Shares. Subject to the other terms of the Plan, the Committee shall, in
its discretion as reflected by the terms of the applicable Award Agreement: (i) authorize the
Granting of Phantom Shares to Eligible Persons and (ii) determine or impose other conditions to the
grant of Phantom Shares under the Plan as it may deem appropriate.

     (b) Term. The Committee may provide in an Award Agreement that any particular Phantom Share
shall expire at the end of a specified term.

     (c) Vesting.

	 	(i)	 	Subject to the provisions of the applicable Award Agreement and
Section 10(c)(ii), Phantom Shares shall vest as provided in the applicable
Award Agreement.
	 
	 	(ii)	 	Unless otherwise determined by the Committee in an applicable
Award Agreement, the Phantom Shares granted pursuant to the Plan shall be
subject to the following vesting conditions:

	 	(1)	 	Termination of Service for Cause. Unless
otherwise provided in the applicable Award Agreement and subject to
clause (2) below, if the Grantee has a Termination of Service for
Cause, all of the Grantee’s Phantom Shares (whether or not such Phantom
Shares are otherwise vested) shall thereupon, and with no further
action, be forfeited by the Grantee and cease to be outstanding, and no
payments shall be made with respect to such forfeited Phantom Shares.
	 
	 	(2)	 	Termination of Service for Death, Disability or
Retirement of Grantee or by the Company for Any Reason Other than
Cause. Unless otherwise provided in the applicable Award Agreement, in
the event the Grantee has a Termination of Service on account of his or
her death, Disability or Retirement, or the Grantee has a Termination
of Service by the Company for any reason other than Cause, all
outstanding Phantom Shares granted to such Grantee shall become
immediately vested.

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	 	(3)	 	Except as contemplated above, in the event that
a Grantee has a Termination of Service, any and all of the Grantee’s
Phantom Shares which have not vested prior to or as of such termination
shall thereupon, and with no further action, be forfeited and cease to
be outstanding, and the Grantee’s vested Phantom Shares shall be
settled as set forth in Section 10(d).

     (d) Settlement of Phantom Shares.

	 	(i)	 	Except as otherwise provided by the Committee, each vested and
outstanding Phantom Share shall be settled by the transfer to the Grantee of
one Share; provided, however, that, the Committee at the time of grant (or, in
the appropriate case, as determined by the Committee, thereafter) may provide
that a Phantom Share may be settled (A) in cash at the applicable Phantom Share
Value, (B) in cash or by transfer of Shares as elected by the Grantee in
accordance with procedures established by the Committee or (C) in cash or by
transfer of Shares as elected by the Company.
	 
	 	(ii)	 	Each Phantom Share shall be settled with a single-sum payment
by the Company; provided, however, that, with respect to Phantom Shares of a
Grantee which have a common Settlement Date (as defined below), the Committee
may permit the Grantee to elect in accordance with procedures established by
the Committee (taking into account, without limitation, Section 409A of the
Code, as the Committee may deem appropriate) to receive installment payments
over a period not to exceed 10 years.

	 	(iii) 	(1)	 	 The settlement date with respect to a Grantee is the first
day of the month to follow the Grantee’s Termination of Service (“Settlement
Date”); provided, however, that a Grantee may elect, in accordance with
procedures to be adopted by the Committee, that such Settlement Date will be
deferred as elected by the Grantee to a time permitted by the Committee under
procedures to be established by the Committee. Unless otherwise determined by
the Committee, elections under this Section 10(d)(iii)(1) must be made at least
six months before, and in the year prior to the year in which, the Settlement
Date would occur in the absence of such election.
	 
	 	 	(2)	 	Notwithstanding Section 10(d)(iii)(1), the
Committee may provide that distributions of Phantom Shares can be
elected at any time in those cases in which the Phantom Share Value is
determined by reference to Fair Market Value to the extent in excess of
a base value, rather than by reference to unreduced Fair Market Value.
	 
	 	 	(3)	 	Notwithstanding the foregoing, the Settlement
Date, if not earlier pursuant to this Section 10(d)(iii), is the date
of the Grantee’s death.

	 	(iv)	 	Notwithstanding any other provision of the Plan (taking into
account, without limitation, Section 409A of the Code, as the Committee may
deem appropriate), a Grantee may receive any amounts to be paid in installments
as provided in Section 10(d)(ii) or deferred by the Grantee as provided in
Section 10(d)(iii) in the event of an “Unforeseeable Emergency.” For these
purposes, an

14

 

	 	 	 	“Unforeseeable Emergency,” as determined by the Committee (taking into
account, without limitation, Section 409A of the Code, as the Committee may
deem appropriate) in its sole discretion, is a severe financial hardship to
the Grantee resulting from a sudden and unexpected illness or accident of
the Grantee or “dependent,” as defined in Section 152(a) of the Code, of the
Grantee, loss of the Grantee’s property due to casualty, or other similar
extraordinary and unforeseeable circumstances arising as a result of events
beyond the control of the Grantee. The circumstances that will constitute
an Unforeseeable Emergency will depend upon the facts of each case, but, in
any case, payment may not be made to the extent that such hardship is or may
be relieved:

	 	(1)	 	through reimbursement or compensation by
insurance or otherwise;
	 
	 	(2)	 	by liquidation of the Grantee’s assets, to the
extent the liquidation of such assets would not itself cause severe
financial hardship; or
	 
	 	(3)	 	by future cessation of the making of additional
deferrals under Section 10(d)(ii) and (iii).

Without limitation, the need to send a Grantee’s child to college or the desire to
purchase a home shall not constitute an Unforeseeable Emergency. Distributions of
amounts because of an Unforeseeable Emergency shall be permitted to the extent
reasonably needed to satisfy the emergency need.

     (e) Other Phantom Share Provisions.

	 	(i)	 	Rights to payments with respect to Phantom Shares granted under
the Plan shall not be subject in any manner to anticipation, alienation, sale,
transfer, assignment, pledge, encumbrance, attachment, garnishment, levy,
execution, or other legal or equitable process, either voluntary or
involuntary; and any attempt to anticipate, alienate, sell, transfer, assign,
pledge, encumber, attach or garnish, or levy or execute on any right to
payments or other benefits payable hereunder, shall be void.
	 
	 	(ii)	 	A Grantee may designate in writing, on forms to be prescribed
by the Committee, a beneficiary or beneficiaries to receive any payments
payable after his or her death and may amend or revoke such designation at any
time. If no beneficiary designation is in effect at the time of a Grantee’s
death, payments hereunder shall be made to the Grantee’s estate. If a Grantee
with a vested Phantom Share dies, such Phantom Share shall be settled and the
Phantom Share Value in respect of such Phantom Shares paid, and any payments
deferred pursuant to an election under Section 10(d)(iii) shall be accelerated
and paid, as soon as practicable (but no later than 60 days) after the date of
death to such Grantee’s beneficiary or estate, as applicable.
	 
	 	(iii)	 	The Committee may (taking into account, without limitation,
Section 409A of the Code, as the Committee may deem appropriate) establish a
program under which distributions with respect to Phantom Shares may be
deferred for periods in addition to those otherwise contemplated by the
foregoing provisions of this Section 10. Such program may include, without
limitation, provisions for the crediting of earnings and losses on unpaid
amounts and, if permitted by the

15

 

	 	 	 	Committee, provisions under which Grantees may select from among
hypothetical investment alternatives for such deferred amounts in accordance
with procedures established by the Committee.
	 
	 	(iv)	 	Notwithstanding any other provision of this Section 10, any
fractional Phantom Share will be paid out in cash at the Phantom Share Value as
of the Settlement Date.
	 
	 	(v)	 	No Phantom Share shall give any Grantee any rights with respect
to Shares or any ownership interest in the Company. Except as may be provided
in accordance with Section 11, no provision of the Plan shall be interpreted to
confer upon any Grantee of a Phantom Share any voting, dividend or derivative
or other similar rights with respect to any Phantom Share.

     (f) Claims Procedures.

	 	(i)	 	The Grantee, or his beneficiary hereunder or authorized
representative, may file a claim for payments with respect to Phantom Shares
under the Plan by written communication to the Committee or its designee. A
claim is not considered filed until such communication is actually received.
Within 90 days (or, if special circumstances require an extension of time for
processing, 180 days, in which case notice of such special circumstances should
be provided within the initial 90-day period) after the filing of the claim,
the Committee will either:

	 	(1)	 	approve the claim and take appropriate steps
for satisfaction of the claim; or
	 
	 	(2)	 	if the claim is wholly or partially denied,
advise the claimant of such denial by furnishing to him or her a
written notice of such denial setting forth (A) the specific reason or
reasons for the denial; (B) specific reference to pertinent provisions
of the Plan on which the denial is based and, if the denial is based in
whole or in part on any rule of construction or interpretation adopted
by the Committee, a reference to such rule, a copy of which shall be
provided to the claimant; (C) a description of any additional material
or information necessary for the claimant to perfect the claim and an
explanation of the reasons why such material or information is
necessary; and (D) a reference to this Section 10(f) as the provision
setting forth the claims procedure under the Plan.

	 	(ii)	 	The claimant may request a review of any denial of his or her
claim by written application to the Committee within 60 days after receipt of
the notice of denial of such claim. Within 60 days (or, if special
circumstances require an extension of time for processing, 120 days, in which
case notice of such special circumstances should be provided within the initial
60-day period) after receipt of written application for review, the Committee
will provide the claimant with its decision in writing, including, if the
claimant’s claim is not approved, specific reasons for the decision and
specific references to the Plan provisions on which the decision is based.

16

 

11. PROVISIONS APPLICABLE TO DIVIDEND EQUIVALENT RIGHTS.

     (a) Grant of DERs. Subject to the other terms of the Plan, the Committee shall, in its
discretion as reflected by the terms of the Award Agreements, authorize the granting of DERs to
Eligible Persons based on the dividends declared on Common Stock, to be credited as of the dividend
payment dates, during the period between the date a Grant is issued, and the date such Grant is
exercised, vests or expires, as determined by the Committee. Such DERs shall be converted to cash
or additional Shares by such formula and at such time and subject to such limitation as may be
determined by the Committee. With respect to DERs granted with respect to Options intended to be
qualified performance-based compensation for purposes of Section 162(m) of the Code, such DERs
shall be payable regardless of whether such Option is exercised. If a DER is granted in respect of
another Grant hereunder, then, unless otherwise stated in the Award Agreement, or, in the
appropriate case, as determined by the Committee, in no event shall the DER be in effect for a
period beyond the time during which the applicable related portion of the underlying Grant has been
exercised or otherwise settled, or has expired, been forfeited or otherwise lapsed, as applicable.

     (b) Certain Terms.

	 	(i)	 	The term of a DER shall be set by the Committee in its
discretion.

	 	(ii)	 	Payment of the amount determined in accordance with
Section 11(a) shall be in cash, in Common Stock or a combination of the both,
as determined by the Committee at the time of grant.

     (c) Other Types of DERs. The Committee may establish a program under which DERs of a type
whether or not described in the foregoing provisions of this Section 11 may be granted to Eligible
Persons. For example, without limitation, the Committee may grant a DER in respect of each Share
subject to an Option or with respect to a Phantom Share, which right would consist of the right
(subject to Section 11(d)) to receive a cash payment in an amount equal to the dividend
distributions paid on a Share from time to time.

     (d) Deferral.

	 	(i)	 	The Committee may (taking into account, without limitation,
Section 409A of the Code, as the Committee may deem appropriate) establish a
program under which Grantees (i) will have Phantom Shares credited, subject to
the terms of Sections 10(d) and 10(e) as though directly applicable with
respect thereto, upon the granting of DERs, or (ii) will have payments with
respect to DERs deferred.

	 	(ii)	 	The Committee may establish a program under which distributions
with respect to DERs may be deferred. Such program may include, without
limitation, provisions for the crediting of earnings and losses on unpaid
amounts, and, if permitted by the Committee, provisions under which Grantees
may select from among hypothetical investment alternatives for such deferred
amounts in accordance with procedures established by the Committee.

12. OTHER EQUITY-BASED AWARDS. The Board shall have the right to grant other awards based
upon the Common Stock having such terms and conditions as the Board may determine, including,
without limitation, the grant of Shares based upon certain conditions, and the grant of securities
convertible into Common Stock.

17

 

13. PERFORMANCE GOALS. The Committee, in its discretion, shall in the case of Grants
(including, in particular, Grants other than Options) intended to qualify for an exception from
the limitation imposed by Section 162(m) of the Code (“Performance-Based Grants”) (i) establish
one or more performance goals (“Performance Goals”) as a precondition to the issue of Grants, and
(ii) provide, in connection with the establishment of the Performance Goals, for predetermined
Grants to those Grantees (who continue to meet all applicable eligibility requirements) with
respect to whom the applicable Performance Goals are satisfied. The Performance Goals shall be
based upon the criteria set forth in Exhibit A hereto which is hereby incorporated herein
by reference as though set forth in full. The Performance Goals shall be established in a timely
fashion such that they are considered preestablished for purposes of the rules governing
performance-based compensation under Section 162(m) of the Code. Prior to the award of Restricted
Stock hereunder, the Committee shall have certified that any applicable Performance Goals, and
other material terms of the Grant, have been satisfied. Performance Goals which do not satisfy
the foregoing provisions of this Section 13 may be established by the Committee with respect to
Grants not intended to qualify for an exception from the limitations imposed by Section 162(m) of
the Code.

14. TERM OF PLAN. Grants may be granted pursuant to the Plan until the expiration of 10
years from the effective date of the Plan.

15. RECAPITALIZATION AND CHANGES OF CONTROL.

     (a) Subject to any required action by stockholders and to the specific provisions of
Section 16, if (i) the Company shall at any time be involved in a merger, consolidation,
dissolution, liquidation, reorganization, exchange of shares, sale of all or substantially all of
the assets or stock of the Company or a transaction similar thereto, (ii) any stock dividend, stock
split, reverse stock split, stock combination, reclassification, recapitalization or other similar
change in the capital structure of the Company, or any distribution to holders of Common Stock
other than cash dividends, shall occur or (iii) any other event shall occur which in the judgment
of the Committee necessitates action by way of adjusting the terms of the outstanding Grants, then:

	 	(i)	 	the maximum aggregate number of Shares which may be made
subject to Options and DERs under the Plan, the maximum aggregate number and
kind of Shares of Restricted Stock that may be granted under the Plan, the
maximum aggregate number of Phantom Shares and other Grants which may be
granted under the Plan may be appropriately adjusted by the Committee in its
discretion; and
	 
	 	(ii)	 	the Committee shall take any such action as in its discretion
shall be necessary to maintain each Grantees’ rights hereunder (including under
their applicable Award Agreements) so that they are, in their respective
Options, Phantom Shares and DERs (and, as appropriate, other Grants under
Section 12), substantially proportionate to the rights existing in such
Options, Phantom Shares and DERs (and other Grants under Section 12) prior to
such event, including, without limitation, adjustments in (A) the number of
Options, Phantom Shares and DERs (and other Grants under Section 12) granted,
(B) the number and kind of shares or other property to be distributed in
respect of Options, Phantom Shares and DERs (and other Grants under Section 12,
as applicable, (C) the Exercise Price, Purchase Price and Phantom Share Value,
and (D) performance-based criteria established in connection with Grants (to
the extent consistent with Section 162(m) of the Code, as applicable); provided
that, in the discretion of the Committee, the foregoing clause (D) may also be
applied in the case of any event

18

 

	 	 	 	relating to a Subsidiary if the event would have been covered under this
Section 15(a) had the event related to the Company.

To the extent that such action shall include an increase or decrease in the number of Shares (or
units of other property then available) subject to all outstanding Grants, the number of Shares (or
units) available under Section 6 above shall be increased or decreased, as the case may be,
proportionately.

     (b) Any Shares or other securities distributed to a Grantee with respect to Restricted Stock
or otherwise issued in substitution of Restricted Stock pursuant to this Section 15 shall be
subject to the applicable restrictions and requirements imposed by Section 9, including depositing
the certificates therefor with the Company together with a stock power and bearing a legend as
provided in Section 9(c)(i).

     (c) If the Company shall be consolidated or merged with another corporation or other entity,
each Grantee who has received Restricted Stock that is then subject to restrictions imposed by
Section 9(d) may be required to deposit with the successor corporation the certificates for the
stock or securities or the other property that the Grantee is entitled to receive by reason of
ownership of Restricted Stock in a manner consistent with Section 9(c)(ii), and such stock,
securities or other property shall become subject to the restrictions and requirements imposed by
Section 9(d), and the certificates therefor or other evidence thereof shall bear a legend similar
in form and substance to the legend set forth in Section 9(c)(i).

     (d) The judgment of the Committee with respect to any matter referred to in this Section 15
shall be conclusive and binding upon each Grantee without the need for any amendment to the Plan.

     (e) Subject to any required action by stockholders, if the Company is the surviving
corporation in any merger or consolidation, the rights under any outstanding Grant shall pertain
and apply to the securities to which a holder of the number of Shares subject to the Grant would
have been entitled. Subject to the terms of any applicable Award Agreement, in the event of a
merger or consolidation in which the Company is not the surviving corporation, the date of
exercisability of each outstanding Option and settling of each Phantom Share or, as applicable,
other Grant under Section 12, shall be accelerated to a date prior to such merger or consolidation,
unless the agreement of merger or consolidation provides for the assumption of the Grant by the
successor to the Company.

     (f) To the extent that the foregoing adjustment related to securities of the Company, such
adjustments shall be made by the Committee, whose determination shall be conclusive and binding on
all persons.

     (g) Except as expressly provided in this Section 15, a Grantee shall have no rights by reason
of subdivision or consolidation of shares of stock of any class, the payment of any stock dividend
or any other increase or decrease in the number of shares of stock of any class or by reason of any
dissolution, liquidation, merger or consolidation or spin-off of assets or stock of another
corporation, and any issue by the Company of shares of stock of any class, or securities
convertible into shares of stock of any class, shall not affect, and no adjustment by reason
thereof shall be made with respect to, the number of Shares subject to a Grant or the Exercise
Price of Shares subject to an Option.

     (h) Grants made pursuant to the Plan shall not affect in any way the right or power of the
Company to make adjustments, reclassifications, reorganizations or changes of its capital or
business structure, to merge or consolidate or to dissolve, liquidate, sell or transfer all or any
part of its business assets.

19

 

     (i) Upon the occurrence of a Change of Control:

	 	(i)	 	The Committee as constituted immediately before the Change of
Control may make such adjustments as it, in its discretion, determines are
necessary or appropriate in light of the Change of Control (including, without
limitation, the substitution of stock other than stock of the Company as the
stock optioned hereunder, and the acceleration of the exercisability of the
Options, cancellation of any Options or stock appreciation rights in return for
payment equal to the Fair Market Value of Shares subject to an Option or stock
appreciation right as of the date of the Change in Control less the exercise
price applicable thereto (which amount may be zero) and settling of each
Phantom Share or, as applicable, other Grant under Section 12), provided that
the Committee determines that such adjustments do not have a substantial
adverse economic impact on the Grantee as determined at the time of the
adjustments.
	 
	 	(ii)	 	Except as otherwise provided in an applicable Award Agreement,
all restrictions and conditions on each DER shall automatically lapse and all
Grants under the Plan shall be deemed fully vested.
	 
	 	(iii)	 	Notwithstanding the provisions of Section 10, the Settlement
Date for Phantom Shares shall be the date of such Change of Control and all
amounts due with respect to Phantom Shares to a Grantee hereunder shall be paid
as soon as practicable (but in no event more than 30 days) after such Change of
Control, unless such Grantee elects otherwise in accordance with procedures
established by the Committee.

16. EFFECT OF CERTAIN TRANSACTIONS. In the case of (i) the dissolution or liquidation of
the Company, (ii) a merger, consolidation, reorganization or other business combination in which
the Company is acquired by another entity or in which the Company is not the surviving entity, or
(iii) any sale, lease, exchange or other transfer (in one transaction or a series of transactions
contemplated or arranged by any party as a single plan) of all or substantially all of the assets
of the Company, the Plan and the Grants issued hereunder shall terminate upon the effectiveness of
any such transaction or event, unless provision is made in connection with such transaction for
the assumption of Grants theretofore granted, or the substitution for such Grants of new Grants,
by the successor entity or parent thereof, with appropriate adjustment as to the number and kind
of shares and the per share exercise prices, as provided in Section 15. In the event of such
termination, all outstanding Options and Grants shall be exercisable in full for at least fifteen
days prior to the date of such termination whether or not otherwise exercisable during such
period.

17. SECURITIES LAW REQUIREMENTS.

     (a) Legality of Issuance. The issuance of any Shares pursuant to Grants under the Plan and
the issuance of any Grant shall be contingent upon the following:

	 	(i)	 	the obligation of the Company to sell Shares with respect to
Grants issued under the Plan shall be subject to all applicable laws, rules and
regulations, including all applicable federal and state securities laws, and
the obtaining of all such approvals by governmental agencies as may be deemed
necessary or appropriate by the Committee;

20

 

	 	(ii)	 	the Committee may make such changes to the Plan as may be
necessary or appropriate to comply with the rules and regulations of any
government authority or to obtain tax benefits applicable to stock options; and
	 
	 	(iii)	 	each grant of Options, Restricted Stock, Phantom Shares (or
issuance of Shares in respect thereof) or DERs (or issuance of Shares in
respect thereof), or other Grant under Section 12 (or issuance of Shares in
respect thereof), is subject to the requirement that, if at any time the
Committee determines, in its discretion, that the listing, registration or
qualification of Shares issuable pursuant to the Plan is required by any
securities exchange or under any state or federal law, or the consent or
approval of any governmental regulatory body is necessary or desirable as a
condition of, or in connection with, the issuance of Options, Shares of
Restricted Stock, Phantom Shares, DERs, other Grants or other Shares, no
payment shall be made, or Phantom Shares or Shares issued or grant of
Restricted Stock or other Grant made, in whole or in part, unless listing,
registration, qualification, consent or approval has been effected or obtained
free of any conditions in a manner acceptable to the Committee.

     (b) Restrictions on Transfer. Regardless of whether the offering and sale of Shares under the
Plan has been registered under the Act or has been registered or qualified under the securities
laws of any state, the Company may impose restrictions on the sale, pledge or other transfer of
such Shares (including the placement of appropriate legends on stock certificates) if, in the
judgment of the Company and its counsel, such restrictions are necessary or desirable in order to
achieve compliance with the provisions of the Act, the securities laws of any state or any other
law. In the event that the sale of Shares under the Plan is not registered under the Act but an
exemption is available which requires an investment representation or other representation, each
Grantee shall be required to represent that such Shares are being acquired for investment, and not
with a view to the sale or distribution thereof, and to make such other representations as are
deemed necessary or appropriate by the Company and its counsel. Any determination by the Company
and its counsel in connection with any of the matters set forth in this Section 17 shall be
conclusive and binding on all persons. Without limiting the generality of Section 6, stock
certificates evidencing Shares acquired under the Plan pursuant to an unregistered transaction
shall bear a restrictive legend, substantially in the following form, and such other restrictive
legends as are required or deemed advisable under the provisions of any applicable law:

“THE SALE OF THE SECURITIES REPRESENTED HEREBY HAS NOT BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933 (THE “ACT”). ANY
TRANSFER OF SUCH SECURITIES WILL BE INVALID UNLESS A REGISTRATION
STATEMENT UNDER THE ACT IS IN EFFECT AS TO SUCH TRANSFER OR IN THE
OPINION OF COUNSEL FOR THE ISSUER SUCH REGISTRATION IS UNNECESSARY
IN ORDER FOR SUCH TRANSFER TO COMPLY WITH THE ACT.”

     (c) Registration or Qualification of Securities. The Company may, but shall not be obligated
to, register or qualify the issuance of Grants and/or the sale of Shares under the Act or any other
applicable law. The Company shall not be obligated to take any affirmative action in order to
cause the issuance of Grants or the sale of Shares under the Plan to comply with any law.

     (d) Exchange of Certificates. If, in the opinion of the Company and its counsel, any legend
placed on a stock certificate representing Shares sold under the Plan is no longer required, the
holder of

21

 

such certificate shall be entitled to exchange such certificate for a certificate representing
the same number of Shares but lacking such legend.

     (e) Certain Loans. Notwithstanding any other provision of the Plan, the Company shall not be
required to take or permit any action under the Plan or any Award Agreement which, in the
good-faith determination of the Company, would result in a material risk of a violation by the
Company of Section 13(k) of the Exchange Act.

18. COMPLIANCE WITH SECTION 409A OF THE CODE.

     (a) Any Award Agreement issued under the Plan that is subject to Section 409A of the Code
shall include such additional terms and conditions as may be required to satisfy the requirements
of Section 409A of the Code.

     (b) With respect to any Grant issued under the Plan that is subject to Section 409A of the
Code, and with respect to which a payment or distribution is to be made upon a Termination of
Service, if the Participant is determined by the Company to be a “specified employee” within the
meaning of Section 409A(a)(2)(B)(i) of the Code and any of the Company’s stock is publicly traded
on an established securities market or otherwise, such payment or distribution may not be made
before the date which is six months after the date of Termination of Service (to the extent
required under Section 409A of the Code).

     (c) Notwithstanding any other provision of the Plan, the Board and the Committee shall
administer the Plan, and exercise authority and discretion under the Plan, to satisfy the
requirements of Section 409A of the Code or any exemption thereto.

19. AMENDMENT OF THE PLAN. The Board may from time to time, with respect to any Shares at
the time not subject to Grants, suspend or discontinue the Plan or revise or amend it in any
respect whatsoever. The Board may amend the Plan as it shall deem advisable, except that no
amendment may adversely affect a Grantee with respect to Grants previously granted unless such
amendments are in connection with compliance with applicable laws; provided, however, that the
Board may not make any amendment in the Plan that would, if such amendment were not approved by
the holders of the Common Stock, cause the Plan to fail to comply with any requirement of
applicable law or regulation, or of any applicable exchange or similar rule, unless and until the
approval of the holders of such Common Stock is obtained.

20. APPLICATION OF FUNDS. The proceeds received by the Company from the sale of Common
Stock pursuant to the exercise of an Option, the sale of Restricted Stock or in connection with
other Grants under the Plan will be used for general corporate purposes.

21. TAX WITHHOLDING. Each Grantee shall, no later than the date as of which the value of
any Grant first becomes includable in the gross income of the Grantee for federal income tax
purposes, pay to the Company, or make arrangements satisfactory to the Company regarding payment
of any federal, state or local taxes of any kind that are required by law to be withheld with
respect to such income. A Grantee may elect to have such tax withholding satisfied, in whole or
in part, by (i) authorizing the Company to withhold a number of Shares to be issued pursuant to a
Grant equal to the Fair Market Value as of the date withholding is effected that would satisfy the
withholding amount due, (ii) transferring to the Company Shares owned by the Grantee with a Fair
Market Value equal to the amount of the required withholding tax, or (iii) in the case of a
Grantee who is an Employee of the Company at the time such withholding is effected, by withholding
from the Grantee’s cash compensation. Notwithstanding anything contained in the Plan to the
contrary, the Grantee’s satisfaction of any tax-withholding requirements imposed by the Committee
shall be a condition precedent to the

22

 

 Company’s obligation as may otherwise by provided hereunder to provide Shares to the Grantee, and
the failure of the Grantee to satisfy such requirements with respect to a Grant shall cause such
Grant to be forfeited.

22. NOTICES. All notices under the Plan shall be in writing, and if to the Company, shall
be delivered to the Board or mailed to its principal office, addressed to the attention of the
Board; and if to the Grantee, shall be delivered personally or mailed to the Grantee at the
address appearing in the records of the Participating Company. Such addresses may be changed at
any time by written notice to the other party given in accordance with this Section 22.

23. RIGHTS TO EMPLOYMENT OR OTHER SERVICE. Nothing in the Plan or in any Grant issued
pursuant to the Plan shall confer on any individual any right to continue in the employ or other
service of the Participating Company (if applicable) or interfere in any way with the right of the
Participating Company and its stockholders to terminate the individual’s employment or other
service at any time.

24. EXCULPATION AND INDEMNIFICATION. To the maximum extent permitted by law, the Company
shall indemnify and hold harmless the members of the Board and the members of the Committee from
and against any and all liabilities, costs and expenses incurred by such persons as a result of
any act or omission to act in connection with the performance of such person’s duties,
responsibilities and obligations under the Plan, other than such liabilities, costs and expenses
as may result from the gross negligence, bad faith, willful misconduct or criminal acts of such
persons.

25. NO FUND CREATED. Any and all payments hereunder to any Grantee under the Plan shall
be made from the general funds of the Company (or, if applicable, a Participating Company), no
special or separate fund shall be established or other segregation of assets made to assure such
payments, and the Phantom Shares (including for purposes of this Section 25 any accounts
established to facilitate the implementation of Section 10(d)(iii)) and any other similar devices
issued hereunder to account for Plan obligations do not constitute Common Stock and shall not be
treated as (or as giving rise to) property or as a trust fund of any kind; provided, however, that
the Company (or a Participating Company) may establish a mere bookkeeping reserve to meet its
obligations hereunder or a trust or other funding vehicle that would not cause the Plan to be
deemed to be funded for tax purposes or for purposes of Title I of the Employee Retirement Income
Security Act of 1974, as amended. The obligations of the Company (or, if applicable, a
Participating Company) under the Plan are unsecured and constitute a mere promise by the Company
(or, if applicable, a Participating Company) to make benefit payments in the future and, to the
extent that any person acquires a right to receive payments under the Plan from the Company (or,
if applicable, a Participating Company), such right shall be no greater than the right of a
general unsecured creditor of the Company (or, if applicable, a Participating Company). Without
limiting the foregoing, Phantom Shares and any other similar devices issued hereunder to account
for Plan obligations are solely a device for the measurement and determination of the amounts to
be paid to a Grantee under the Plan, and each Grantee’s right in the Phantom Shares and any such
other devices is limited to the right to receive payment, if any, as may herein be provided.

26. NO FIDUCIARY RELATIONSHIP. Nothing contained in the Plan (including without
limitation Section 10(e)(iii)), and no action taken pursuant to the provisions of the Plan, shall
create or shall be construed to create a trust of any kind, or a fiduciary relationship between
the Company, the Participating Companies, or their officers or the Committee, on the one hand, and
the Grantee, the Company, the Participating Companies or any other person or entity, on the other.

27. CAPTIONS. The use of captions in the Plan is for convenience. The captions are not
intended to provide substantive rights.

23

 

28. GOVERNING LAW. THE PLAN SHALL BE GOVERNED BY THE LAWS OF THE STATE OF NEW YORK,
WITHOUT REFERENCE TO PRINCIPLES OF CONFLICT OF LAWS.

24

 

EXHIBIT A

PERFORMANCE CRITERIA

     Performance-Based Grants intended to qualify as “performance based” compensation under
Section 162(m) of the Code, may be payable upon the attainment of objective performance goals that
are established by the Committee and relate to one or more Performance Criteria, in each case on
specified date or over any period, up to 10 years, as determined by the Committee. Performance
Criteria may be based on the achievement of the specified levels of performance under one or more
of the measures set out below relative to the performance of one or more other corporations or
indices.

     “Performance Criteria” means the following business criteria (or any combination thereof) with
respect to one or more of the Company, any Participating Company or any division or operating unit
thereof:

	 	i)	 	pre-tax income,
	 
	 	ii)	 	after-tax income,
	 
	 	iii)	 	net income (meaning net income as reflected in the Company’s financial reports
for the applicable period, on an aggregate, diluted and/or per share basis),
	 
	 	iv)	 	operating income,
	 
	 	v)	 	cash flow,
	 
	 	vi)	 	earnings per share,
	 
	 	vii)	 	return on equity,
	 
	 	viii)	 	return on invested capital or assets,
	 
	 	ix)	 	cash and/or funds available for distribution,
	 
	 	x)	 	appreciation in the fair market value of the Common Stock,
	 
	 	xi)	 	return on investment,
	 
	 	xii)	 	total return to stockholders (meaning the aggregate Common Stock price
appreciation and dividends paid (assuming full reinvestment of dividends) during the
applicable period),
	 
	 	xiii)	 	net earnings growth,
	 
	 	xiv)	 	stock appreciation (meaning an increase in the price or value of the Common
Stock after the date of grant of an award and during the applicable period),
	 
	 	xv)	 	related return ratios,
	 
	 	xvi)	 	increase in revenues,

A - 1

 

	 	xvii)	 	the Company’s published ranking against its peer group of real estate
investment trusts based on total stockholder return,
	 
	 	xviii)	 	net earnings,
	 
	 	xix)	 	changes (or the absence of changes) in the per share or aggregate market price
of the Company’s Common Stock,
	 
	 	xx)	 	number of securities sold,
	 
	 	xxi)	 	earnings before any one or more of the following items: interest, taxes,
depreciation or amortization for the applicable period, as reflected in the Company’s
financial reports for the applicable period, and
	 
	 	xxii)	 	total revenue growth (meaning the increase in total revenues after the date of
grant of an award and during the applicable period, as reflected in the Company’s
financial reports for the applicable period).

     Except as otherwise expressly provided, all financial terms are used as defined under
Generally Accepted Accounting Principles (“GAAP”) and all determinations shall be made in
accordance with GAAP, as applied by the Company in the preparation of its periodic reports to
stockholders.

     To the extent permitted by Section 162(m) of the Code, unless the Committee provides otherwise
at the time of establishing the performance goals, for each fiscal year of the Company, the
Committee may provide for objectively determinable adjustments, as determined in accordance with
GAAP, to any of the Performance Criteria described above for one or more of the items of gain,
loss, profit or expense: (A) determined to be extraordinary or unusual in nature or infrequent in
occurrence, (B) related to the disposal of a segment of a business, (C) related to a change in
accounting principle under GAAP, (D) related to discontinued operations that do not qualify as a
segment of a business under GAAP, and (E) attributable to the business operations of any entity
acquired by the Company during the fiscal year.

A - 2

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