Document:

ALLIANCE CAPITAL MANAGEMENT L

ALLIANCE CAPITAL MANAGEMENT L.P.

UNIT OPTION PLAN AGREEMENT

 

AGREEMENT,

dated December 7, 2001 between Alliance Capital Management L.P. (the

“Partnership”), Alliance Capital Management Holding L.P. (“Alliance Holding”)

and David R. Brewer, Jr. (the “Employee”), an employee of the Partnership or a

subsidiary of the Partnership.

 

The

Option Committee (the “Administrator”) of the Board of Directors (the “Board”)

of Alliance Capital Management Corporation, the general partner of the

Partnership and Alliance Holding, pursuant to the 1993 Unit Option Plan, a copy

of which has been delivered to the Employee (the “Plan”), has granted to the

Employee an option to purchase units representing assignments of beneficial

ownership of limited partnership interests in Alliance Holding (the “Units”) as

hereinafter set forth, and authorized the execution and delivery of this

Agreement.

 

In

accordance with that grant, and as a condition thereto, the Partnership,

Alliance Holding and the Employee agree as follows:

 

1.             Grant of Option. 

Subject to and under the terms and conditions set forth in this Agreement and

the Plan, the Employee is the owner of an option (the “Option”) to purchase the

number of Units set forth in Section 1 of Exhibit A attached hereto at the per

Unit price set forth in Section 2 of Exhibit A.

 

2.             Term and Exercise Schedule. 

This Option shall not be exercisable to any extent prior to December 7, 2002 or

after December 7, 2011 (the “Expiration Date”).  Subject to the terms and

conditions of this Agreement and the Plan, the Employee shall be entitled to

exercise the Option prior to the Expiration Date and to purchase Units

hereunder in accordance with the schedule set forth in Section 3 of Exhibit A.

 

The

right to exercise this Option shall be cumulative so that to the extent this

Option is not exercised when it becomes initially exercisable with respect to

any Units, it shall be exercisable with respect to such Units at any time

thereafter until the Expiration Date and any Units subject to this Option which

have not then been purchased may not, thereafter, be purchased hereunder. 

A Unit shall be considered to have been purchased on or before the Expiration

Date if notice of the purchase has been given and payment therefor has actually

been received pursuant to Sections 3 and 13, on or before the Expiration Date.

 

3.             Notice of Exercise, Payment and

Certificate.  Exercise of this Option, in whole or in part, shall be

by delivery of a written notice to the Partnership and Alliance Holding

pursuant to Section 13 which specifies the number of Units being purchased and

is accompanied by payment therefor in cash.  Promptly after receipt of

such notice and purchase price, the Partnership and Alliance Holding shall

deliver to the person exercising the Option a certificate for the number of

Units purchased.  Units to be issued upon the exercise of this Option may

be either authorized and unissued Units or Units which have been reacquired by

the Partnership, a subsidiary of the Partnership, Alliance Holding or a subsidiary of

Alliance Holding.

 

1

 

4.             Termination of Employment. 

This Option may be exercised only while the Employee is a full-time employee of

the Partnership, except as follows:

 

(a)           Disability.  If the Employee’s employment with

the Partnership terminates because of Disability, the Employee (or his personal

representative) shall have the right to exercise this Option, to the extent

that the Employee was entitled to do so on the date of termination of his

employment, for a period which ends not later than the earlier of (i) three

months after such termination, and (ii) the Expiration Date.  “Disability”

shall mean a determination by the Administrator that the Employee is physically

or mentally incapacitated and has been unable for a period of six consecutive

months to perform the duties for which he was responsible immediately before

the onset of his incapacity.  In order to assist the Administrator in

making a determination as to the Disability of the Employee for purposes of

this paragraph (a), the Employee shall, as reasonably requested by the

Administrator, (A) make himself available for medical examinations by one or

more physicians chosen by the Administrator and approved by the Employee, whose

approval shall not unreasonably be withheld, and (B) grant the Administrator

and any such physicians access to all relevant medical information concerning

him, arrange to furnish copies of medical records to them, and use his best

efforts to cause his own physicians to be available to discuss his health with

them.

 

(b)           Death.  If the Employee dies (i) while in the

employ of the Partnership, or (ii) within one month after termination of his

employment with the Partnership because of Disability (as determined in

accordance with paragraph (a) above), or (iii) within one month after the

Partnership terminates his employment for any reason other than for Cause (as

determined in accordance with paragraph (c) below), this Option may be

exercised, to the extent that the Employee was entitled to do so on the date of

his death, by the person or persons to whom the Option shall have been

transferred by will or by the laws of descent and distribution, for a period

which ends not later than the earlier of (A) six months from the date of the

Employee’s death, and (B) the Expiration Date.

 

(c)           Other Termination.  If the Partnership

terminates the Employee’s employment for any reason other than death,

Disability or for Cause, the Employee shall have the right to exercise this

Option, to the extent that he was entitled to do so on the date of the

termination of his employment, for a period which ends not later than the

earlier of (i) three months after such termination, and (ii) the Expiration

Date.  “Cause” shall mean (A) the Employee’s continuing willful failure to

perform his duties as an employee (other than as a result of his total or

partial incapacity due to physical or mental illness), (B) gross negligence or

malfeasance in the performance of the Employee’s duties, (C) a finding by a court

or other governmental body with proper jurisdiction that an act or acts by the

Employee constitutes (1) a felony under the laws of the United States or any

state thereof (or, if the Employee’s place of employment is outside of the

United States, a serious crime under the laws of  the foreign jurisdiction where he is employed, which crime if

committed in the United States would be a felony under the laws of the United

States or the laws of

 

2

 

New York), or (2) a

violation of federal or state securities law (or, if the Employee’s place of

employment is outside of the United States, of federal, state or foreign

securities law) by reason of which finding of violation described in this

clause (2) the Board determines in good faith that the continued employment of

the Employee by the Partnership would be seriously detrimental to the

Partnership and its business, (D) in the absence of such a finding by a court

or other governmental body with proper jurisdiction, such a determination in

good faith by the Board by reason of such act or acts constituting such a

felony, serious crime or violation, or (E) any breach by the Employee of any

obligation of confidentiality or non-competition to the Partnership.

 

For

purposes of this Agreement, employment by a subsidiary of the Partnership shall

be deemed to be employment by the Partnership.  A “subsidiary” of the

Partnership shall be any corporation or other entity of which the Partnership

and/or its subsidiaries (a) have sufficient voting power (not depending on the

happening of a contingency) to elect at least a majority of its board of

directors, or (b) otherwise have the power to direct or cause the direction of

its management and policies.

 

5.             Non-Transferability. 

This Option is not transferable other than by will or the laws of descent and

distribution and, except as otherwise provided in Section 4, during the

lifetime of the Employee this Option is exercisable only by the Employee.

 

6.             No Right to Continued Employment. 

This Option shall not confer upon the Employee any right to continue in the

employ of the Partnership or interfere in any way with the right of the

Partnership to terminate the employment of the Employee at any time for any

reason.

 

7.             Payment of Withholding Tax. 

(a) In the event that the Partnership or Alliance Holding determines that any

federal, state or local tax or any other charge is required by law to be

withheld with respect to the exercise of this Option, the Employee shall

promptly pay to the Partnership or a subsidiary specified by the Partnership or

Alliance Holding, on at least seven business days’ notice, an amount equal to

such withholding tax or charge or (b) if the Employee does not promptly so pay

the entire amount of such withholding tax or charge in accordance with such

notice, or make arrangements satisfactory to the Partnership and Alliance

Holding regarding payment thereof, the Partnership or any subsidiary of the

Partnership may withhold the remaining amount thereof from any amount due the

Employee from the Partnership or the subsidiary.

 

8.             Dilution and Other Adjustments. 

The existence of this Option shall not impair the right of the Partnership or

Alliance Holding or their respective partners to, among other things, conduct,

make or effect any change in the Partnership’s or Alliance Holding’s business,

any issuance of debt obligations or other securities by the Partnership or

Alliance Holding, any grant of options with respect to an interest in the

Partnership or Alliance Holding or any adjustment, recapitalization or other

change in the partnership interests of the Partnership or Alliance Holding

(including, without limitation, any distribution, subdivision, or combination

of limited partnership interests), or any incorporation of the Partnership or

Alliance Holding.  In the event of such a change in the partnership

interests of the Partnership or Alliance Holding, the Board shall make such

adjustments to this Option, including the purchase price specified in Section

1, as it deems appropriate and

 

3

 

equitable. In the event of

incorporation of the Partnership or Alliance Holding, the Board shall make such

arrangements as it deems appropriate and equitable with respect to this Option for

the Employee to purchase stock in the resulting corporation in place of the

Units subject to this Option.  Any such adjustment or arrangement may

provide for the elimination of any fractional Unit or shares of stock which

might otherwise become subject to this Option.  Any decision by the Board

under this Section shall be final and binding upon the Employee.

 

9.             Rights as an Owner of a Unit. 

The Employee (or a transferee of this Option pursuant to Section 4) shall have

no rights as an owner of a Unit with respect to any Unit covered by this Option

until he becomes the holder of record of such Unit, which shall be deemed to

occur at the time that notice of purchase is given and payment in full is

received under Section 3 and 13.  By such actions, the Employee (or such

transferee) shall be deemed to have consented to, and agreed to be bound by,

all other terms, conditions, rights and obligations set forth in the then

current Amended and Restated Agreement of Limited Partnership of Alliance

Holding and the then current Amended and Restated Agreement of Limited

Partnership of the Partnership.  Except as provided in Section 8, no

adjustment shall be made with respect to any Unit for any distribution for

which the record date is prior to the date on which the Employee becomes the

holder of record of the Unit, regardless of whether the distribution is

ordinary or extraordinary, in cash, securities or other property, or of any

other rights.

 

10.           Administrator.  If at any

time there shall be no Option Committee of the Board, the Board shall be the

Administrator.

 

11.           Governing Law.  This

Agreement shall be governed by and construed in accordance with the internal

laws of the State of New York.

 

12.           Interpretation.  The

Employee accepts this Option subject to all the terms and provisions of the

Plan, which shall control in the event of any conflict between any provision of

the Plan and this Agreement, and accepts as binding, conclusive and final all

decisions or interpretations of the Board or the Administrator upon any

questions arising under the Plan and/or this Agreement.

 

13.           Notices.  Any notice

under this Agreement shall be in writing and shall be deemed to have been duly

given when delivered personally or when deposited in the United States mail,

registered, postage prepaid, and addressed, in the case of the Partnership, to

the Secretary of Alliance Capital Management Corporation at 1345 Avenue of the

Americas, New York, New York  10105, or if the Partnership should move its

principal office, to such principal office, in the case of Alliance Holding, to

the Secretary of Alliance Capital Management Corporation at 1345 Avenue of the

Americas, New York, New York 10105, or if Alliance Holding should move its

principal office, to such principal office, and, in the case of the Employee,

to his last permanent address as shown on the Partnership’s records, subject to

the right of either party to designate some other address at any time hereafter

in a notice satisfying the requirements of this Section.

 

4

 

14.           Sections and Headings. 

All section references in this Agreement are to sections hereof for convenience

of reference only and are not to affect the meaning of any provision of this

Agreement.

 

	

   

  	

  ALLIANCE CAPITAL MANAGEMENT L.P.

  
	

   

  	

   

  	

   

  
	

   

  	

  By:

  	

  Alliance Capital Management

  
	

   

  	

   

  	

  Corporation, its General Partner

  
	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  
	

   

  	

  By:

  	

  /s/ John D. Carifa

  	

   

  
	

   

  	

   

  	

  John D. Carifa

  
	

   

  	

   

  	

  President

  
	

   

  	

   

  	

   

  
	

  .

  	

  ALLIANCE

  CAPITAL MANAGEMENT HOLDING L.P.

  
	

   

  	

   

  	

   

  
	

   

  	

  By:

  	

  Alliance

  Capital Management

  
	

   

  	

   

  	

  Corporation,

  General Partner

  
	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  
	

   

  	

  By:

  	

  /s/

  John D. Carifa

  	

   

  
	

   

  	

   

  	

  John

  D. Carifa

  
	

   

  	

   

  	

  President

  
	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  
	

   

  	

   

  	

  /s/

  David R. Brewer, Jr.

  	

   

  
	

   

  	

   

  	

  David

  R. Brewer, Jr.

  

 

5

 

Exhibit A To Unit Option Plan Agreement Dated December

7, 2001

between Alliance Capital Management L.P.,

Alliance Capital Management Holding L.P. and David R.

Brewer, Jr.

 

 

1.                                       The number of Units that the Employee is

entitled to purchase pursuant to the Option granted under this Agreement is

15,000.

 

2.                                       The per Unit price to purchase Units pursuant

to the Option granted under this Agreement is $50.25 per Unit.

 

3.                                       Percentage of Units With Respect to

Which the Option First

Becomes

Exercisable on the Date

Indicated 

 

1.   December 7, 2002           20%

2.   December 7, 2003           20%

3.   December 7, 2004           20%

4.   December 7, 2005           20%

5.   December 7, 2006           20%ALLIANCE CAPITAL MANAGEMENT L

ALLIANCE

CAPITAL MANAGEMENT L.P.

UNIT OPTION PLAN AGREEMENT

 

AGREEMENT, dated

December 7, 2001 between Alliance Capital Management L.P. (the “Partnership”),

Alliance Capital Management Holding L.P. (“Alliance Holding”) and Robert H.

Joseph, Jr. (the “Participant”), an employee of the Partnership or a subsidiary

of the Partnership (an “Employee Participant”).

 

The 1997 Option

Committee (the “Administrator”) of the Board of the Board of Directors (the

“Board”) of Alliance Capital Management Corporation, the general partner of the

Partnership and Alliance Holding, pursuant to the 1997 Long Term Incentive

Plan, a copy of which has been delivered to the Participant (the “Plan”), has

granted to the Participant an option to purchase units representing assignments

of beneficial ownership of limited partnership interests in Alliance Holding  (the

“Units”) as hereinafter set forth, and authorized the execution and delivery of

this Agreement.

 

In accordance with that

grant, and as a condition thereto, the Partnership, Alliance Holding and the

Participant agree as follows:

 

1.             Grant of Option.  Subject to and under the terms and

conditions set forth in this Agreement and the Plan, the Participant is the

owner of an option (the “Option”) to purchase the number of Units set forth in

Section 1 of Exhibit A attached hereto at the per Unit price set forth in

Section 2 of Exhibit A.

 

2.             Term and Exercise Schedule.  This Option shall not be exercisable to any

extent prior to December 7, 2002 or after December 7, 2011 (the “Expiration

Date”).  Subject to the terms and

conditions of this Agreement and the Plan, the Participant shall be entitled to

exercise the Option prior to the Expiration Date and to purchase Units

hereunder in accordance with the schedule set forth in Section 3 of Exhibit A.

 

The right to exercise

this Option shall be cumulative so that to the extent this Option is not

exercised when it becomes initially exercisable with respect to any Units, it

shall be exercisable with respect to such Units at any time thereafter until

the Expiration Date and any Units subject to this Option which have not then

been purchased may not, thereafter, be purchased hereunder.  A Unit shall be considered to have been

purchased on or before the Expiration Date if notice of the purchase has been

given and payment therefor has actually been received pursuant to Sections 3

and 13, on or before the Expiration Date.

 

3.             Notice of Exercise, Payment and

Certificate.  Exercise of this

Option, in whole or in part, shall be by delivery of a written notice to the

Partnership and Alliance Holding pursuant to Section 14 which specifies the

number of Units being purchased and is accompanied by payment therefor in

cash.  Promptly after receipt of such

notice and purchase price, the Partnership and Alliance Holding shall deliver

to the person exercising the Option a certificate for the number of Units

purchased.  Units to be issued upon the

exercise of this Option may be either authorized and unissued Units or Units which

have been reacquired by the Partnership, a subsidiary of the Partnership,

Alliance Holding or a subsidiary of Alliance Holding.

 

1

 

4.             Termination of Employment.  This Option may be exercised by an Employee

Participant only while the Employee Participant is employed full-time by the

Partnership, except as follows:

 

(a)           Disability.  If the Employee Participant’s employment

with the Partnership terminates because of Disability, the Employee Participant

(or his personal representative) shall have the right to exercise this Option,

to the extent that the Employee Participant was entitled to do so on the date

of termination of his employment, for a period which ends not later than the

earlier of (i) three months after such termination, and (ii) the Expiration

Date. “Disability” shall mean a determination by the Administrator that the

Employee Participant is physically or mentally incapacitated and has been

unable for a period of six consecutive months to perform the duties for which

he was responsible immediately before the onset of his incapacity.  In order to assist the Administrator in

making a determination as to the Disability of the Employee Participant for

purposes of this paragraph (a), the Employee Participant shall, as reasonably

requested by the Administrator, (A) make himself available for medical

examinations by one or more physicians chosen by the Administrator and approved

by the Employee Participant, whose approval shall not unreasonably be withheld,

and (B) grant the Administrator and any such physicians access to all relevant

medical information concerning him, arrange to furnish copies of medical

records to them, and use his best efforts to cause his own physicians to be

available to discuss his health with them.

 

(b)           Death.  If the Employee Participant dies (i) while

in the employ of the Partnership, or (ii) within one month after termination of

his employment with the Partnership because of Disability (as determined in

accordance with paragraph (a) above), or (iii) within one month after the

Partnership terminates his employment for any reason other than for Cause (as

determined in accordance with paragraph (c) below), this Option may be

exercised, to the extent that the Employee Participant was entitled to do so on

the date of his death, by the person or persons to whom the Option shall have

been transferred by will or by the laws of descent and distribution, for a

period which ends not later than the earlier of (A) six months from the date of

the Employee Participant’s death, and (B) the Expiration Date.

 

(c)           Other Termination.  If the Partnership terminates the Employee

Participant’s employment for any reason other than death, Disability or for

Cause, the Employee Participant shall have the right to exercise this Option,

to the extent that he was entitled to do so on the date of the termination of

his employment, for a period which ends not later than the earlier of (i) three

months after such termination, and (ii) the Expiration Date.  “Cause” shall mean (A) the Employee

Participant’s continuing willful failure to perform his duties as an employee

(other than as a result of his total or partial incapacity due to physical or

mental illness), (B) gross negligence or malfeasance in the performance of the

Employee Participant’s duties, (c) a finding by a court or other governmental

body with proper jurisdiction that an act or acts by the Employee Participant

constitutes (1) a felony under the laws of the United States or any state

thereof (or, if the Employee Participant’s place of 

 

2

 

employment is

outside of the United States, a serious crime under the laws of the foreign

jurisdiction where he is employed, which crime if committed in the United

States would be a felony under the laws of the United States or the laws of New

York), or (2) a violation of federal or state securities law (or, if the

Employee Participant’s place of employment is outside of the United States, of

federal, state or foreign securities law) by reason of which finding of

violation described in this clause (2) the Board determines in good faith that

the continued employment of the Employee Participant by the Partnership would

be seriously detrimental to the Partnership and its business, (D) in the

absence of such a finding by a court or other governmental body with proper

jurisdiction, such a determination in good faith by the Board by reason of such

act or acts constituting such a felony, serious crime or violation, or (E) any

breach by the Employee Participant of any obligation of confidentiality or

non-competition to the Partnership.

 

For purposes of

this Agreement, employment by a subsidiary of the Partnership shall be deemed

to be employment by the Partnership.  A

“subsidiary” of the Partnership shall be any corporation or other entity of

which the Partnership and/or its subsidiaries (a) have sufficient voting power

(not depending on the happening of a contingency) to elect at least a majority

of its board of directors, or (b) otherwise have the power to direct or cause

the direction of its management and policies.

 

5.             No Right to Continued Employment.  This Option shall not confer upon the

Participant any right to continue in the employ of the Partnership or any

subsidiary of the Partnership or to be retained as a Director, and shall not

interfere in any way with the right of the Partnership to terminate the service

of the Participant at any time for any reason.

 

6.             Non-Transferability.  This Option is not transferable other than

by will or the laws of descent and distribution and, except as otherwise

provided in Section 4, during the lifetime of the Participant this Option is

exercisable only by the Participant; except that a Participant may transfer

this Option, without consideration, subject to such rules as the Committee may

adopt to preserve the purposes of the Plan (including limiting such transfers

to transfers by Participants who are senior executives), to a trust solely for

the benefit of the Participant and the Participant’s spouse, children or

grandchildren (including adopted and stepchildren and grandchildren) (each a

“Permitted Transferee”).

 

7.             Payment of Withholding Tax.  (a) In the event that the Partnership or

Alliance Holding determines that any federal, state or local tax or any other

charge is required by law to be withheld with respect to the exercise of this

Option, the Participant shall promptly pay to the Partnership, a subsidiary

specified by the Partnership or Alliance Holding, on at least seven business

days’ notice, an amount equal to such withholding tax or charge or (b) if the

Participant does not promptly so pay the entire amount of such withholding tax

or charge in accordance with such notice, or make arrangements satisfactory to

the Partnership and Alliance Holding regarding payment thereof, the Partnership

or any subsidiary of the Partnership may withhold the remaining amount thereof

from any amount due the Participant from the Partnership or the subsidiary.

 

3

 

8.             Dilution and Other Adjustments.  The existence of this Option shall not

impair the right of the Partnership or Alliance Holding or their respective

partners to, among other things, conduct, make or effect any change in the

Partnership’s or Alliance Holding’s business, any distribution (whether in the

form of cash, limited partnership interests, other securities or other

property), recapitalization (including, without limitation, any subdivision or

combination of limited partnership interests), reorganization, consolidation,

combination, repurchase or exchange of limited partnership interests or other

securities of the Partnership or Alliance Holding, issuance of warrants or

other rights to purchase limited partnership interests or other securities of

the Partnership or Alliance Holding, or any incorporation of the Partnership or

Alliance Holding.  In the event of such

a change in the partnership interests of the Partnership or Alliance Holding,

the Board shall make such adjustments to this Option, including the purchase

price specified in Section 1, as it deems appropriate and equitable.  In the event of incorporation of the

Partnership or Alliance Holding, the Board shall make such arrangements as it

deems appropriate and equitable with respect to this Option for the Participant

to purchase stock in the resulting corporation in place of the Units subject to

this Option.  Any such adjustment or

arrangement may provide for the elimination of any fractional Unit or shares of

stock which might otherwise become subject to this Option.  Any decision by the Board under this Section

shall be final and binding upon the Participant.

 

9.             Rights as an Owner of a Unit.  The Participant (or a transferee of this

Option pursuant to Sections 4 and 6) shall have no rights as an owner of a Unit

with respect to any Unit covered by this Option until he becomes the holder of

record of such Unit, which shall be deemed to occur at the time that notice of

purchase is given and payment in full is received under Section 3 and 13.  By such actions, the Participant (or such

transferee) shall be deemed to have consented to, and agreed to be bound by,

all other terms, conditions, rights and obligations set forth in the then

current Amended and Restated Agreement of Limited Partnership of Alliance

Holding, and the then  current Amended and Restated Agreement of

Limited Partnership of the Partnership. 

Except as provided in Section 9, no adjustment shall be made with

respect to any Unit for any distribution for which the record date is prior to

the date on which the Participant becomes the holder of record of the Unit,

regardless of whether the distribution is ordinary or extraordinary, in cash,

securities or other property, or of any other rights.

 

10.           Administrator.  If at any time there shall be no 1997 Option

Committee of the Board, the Board shall be the Administrator.

 

11.           Governing Law.  This Agreement shall be governed by and

construed in accordance with the internal laws of the State of New York.

 

12.           Interpretation.  The Participant accepts this Option subject

to all the terms and provisions of the Plan, which shall control in the event

of any conflict between any provision of the Plan and this Agreement, and

accepts as binding, conclusive and final all decisions or interpretations of

the Board or the Administrator upon any questions arising under the Plan and/or

this Agreement.

 

4

 

13.           Notices.  Any notice under this Agreement shall be in

writing and shall be deemed to have been duly given when delivered personally

or when deposited in the United States mail, registered, postage prepaid, and

addressed, in the case of the Partnership, to the Secretary of Alliance Capital

Management Corporation at 1345 Avenue of the Americas, New York, New York  10105, or if the Partnership should move its

principal office, to such principal office, in the case of Alliance Holding, to

the Secretary of Alliance Capital Management Corporation at 1345 Avenue of the

Americas, New York, New York 10105, or if Alliance Holding should move its principal

office, to such principal office, and, in the case of the Participant, to his

last permanent address as shown on the Partnership’s records, subject to the

right of either party to designate some other address at any time hereafter in

a notice satisfying the requirements of this Section.

 

14.           Sections and Headings.  All section references in this Agreement are

to sections hereof for convenience of reference only and are not to affect the

meaning of any provision of this Agreement.

 

 

	

   

  	

   

  	

  ALLIANCE

  CAPITAL MANAGEMENT L.P.

  
	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

  By:

  	

  Alliance

  Capital Management

  
	

   

  	

   

  	

   

  	

  Corporation,

  its General Partner

  
	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

  By:

  	

  /s/

  John D. Carifa

  	

   

  
	

   

  	

   

  	

   

  	

  John

  D. Carifa 

  
	

   

  	

   

  	

   

  	

  President

  
	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

  ALLIANCE CAPITAL MANAGEMENT HOLDING L.P.

  
	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

  By:

  	

  Alliance Capital Management

  
	

   

  	

   

  	

   

  	

  Corporation, its General Partner

  
	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

  By:

  	

  /s/ John D. Carifa

  	

   

  
	

   

  	

   

  	

   

  	

  John D. Carifa

  
	

   

  	

   

  	

   

  	

  President

  
	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

  /s/ Robert H. Joseph, Jr.

  	

   

  
	

   

  	

   

  	

   

  	

  Robert H. Joseph, Jr.

  
						

 

5

 

Exhibit

A To Unit Option Plan Agreement Dated December 7, 2001

between Alliance Capital Management

L.P.,

Alliance Capital Management Holding

L.P. and Robert H. Joseph, Jr.

 

1.                                       The

number of Units that the Participant is entitled to purchase pursuant to the

Option granted under this Agreement is 15,000.

 

2.                                       The per Unit price to purchase Units

pursuant to the Option granted under this Agreement is $50.25 per Unit.

 

3.                                       Percentage of Units With Respect to

Which the Option

First Becomes

Exercisable on the

Date Indicated 

 

1.   December 7,

2002           20%

2.   December 7,

2003           20%

3.   December 7,

2004           20%

4.   December 7,

2005           20%

5.   December 7,

2006           20%

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00036-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00036-of-00352.parquet"}]]