Document:

Exhibit 10.21

 

ALLIANCE CAPITAL MANAGEMENT L.P.

UNIT OPTION PLAN AGREEMENT

 

AGREEMENT, dated December 6, 2002 between Alliance
Capital Management L.P. (the “Partnership”), Alliance Capital Management
Holding L.P. (“Alliance Holding”) and Paul C. Rissman (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 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 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 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 6, 2003 or after
December 6, 2012 (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 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.

 

 

4.             Termination
of Employment.  This Option may be
exercised by an Employee Participant only while the Employee Participant is a
full-time employee of 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 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

 

2

 

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 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 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.

 

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

 

3

 

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 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 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 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.

 

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.

 

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/ Paul C. Rissman

  	
   

  
	
   

  	
   

  	
  Paul C. Rissman

  

 

5

 

Exhibit A To Unit Option Plan Agreement Dated December 6,
2002

between
Alliance Capital Management L.P.,

Alliance
Capital Management Holding L.P. and Paul C. Rissman

 

1.                                       The
number of Units that the Participant is entitled to purchase pursuant to the
Option granted under this Agreement is 40,000.

 

2.                                       The
per Unit price to purchase Units pursuant to the Option granted under this
Agreement is $33.18 per Unit.

 

3.                                       Percentage
of Units With Respect to

Which the Option First Becomes

Exercisable on the Date Indicated 

 

	
  1.

  	
   

  	
  December 6, 2003

  	
   

  	
  20%

  
	
  2.

  	
   

  	
  December 6, 2004

  	
   

  	
  20%

  
	
  3.

  	
   

  	
  December 6, 2005

  	
   

  	
  20%

  
	
  4.

  	
   

  	
  December 6, 2006

  	
   

  	
  20%

  
	
  5.

  	
   

  	
  December 6, 2007

  	
   

  	
  20%Exhibit
10.22

 

ALLIANCE CAPITAL MANAGEMENT L.P.

UNIT OPTION PLAN AGREEMENT

 

AGREEMENT, dated December 6, 2002 between Alliance
Capital Management L.P. (the “Partnership”), Alliance Capital Management
Holding L.P. (“Alliance Holding”) and Christopher M. Toub (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 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 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 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 6, 2003 or after
December 6, 2012 (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 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.

 

 

4.             Termination
of Employment.  This Option may be
exercised by an Employee Participant only while the Employee Participant is a
full-time employee of 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 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

 

2

 

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 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 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.

 

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

 

3

 

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 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 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 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.

 

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.

 

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/ Christopher M. Toub

  	
   

  
	
   

  	
   

  	
  Christopher M. Toub

  

 

5

 

Exhibit A To Unit Option Plan Agreement Dated December 6,
2002

between
Alliance Capital Management L.P.,

Alliance Capital Management Holding L.P. and Christopher M.
Toub

 

1.                                       The number of Units that the Participant
is entitled to purchase pursuant to the Option granted under this Agreement is
30,000.

 

2.                                       The per Unit price to purchase Units
pursuant to the Option granted under this Agreement is $33.18 per Unit.

 

3.                                       Percentage of Units With Respect to

Which the Option First Becomes

Exercisable on the Date Indicated 

 

	
  1.

  	
   

  	
  December 6, 2003

  	
   

  	
  20%

  
	
  2.

  	
   

  	
  December 6, 2004

  	
   

  	
  20%

  
	
  3.

  	
   

  	
  December 6, 2005

  	
   

  	
  20%

  
	
  4.

  	
   

  	
  December 6, 2006

  	
   

  	
  20%

  
	
  5.

  	
   

  	
  December 6, 2007

  	
   

  	
  20%

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00049-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00049-of-00352.parquet"}]]