Document:

Amended and restated 2002 Long Term Incentive and Stock Award Plan

  
 Exhibit 4.1 

 
 THE HAIN CELESTIAL GROUP, INC. 
 AMENDED AND RESTATED 
 2002 LONG TERM
INCENTIVE AND STOCK AWARD PLAN 
  
 1.
Purposes. 
  
 The purposes of the Amended and Restated 2002
Long Term Incentive and Stock Award Plan are to advance the interests of The Hain Celestial Group, Inc. and its stockholders by providing a means to attract, retain, and motivate employees, consultants and directors of the Company upon whose
judgment, initiative and efforts the continued success, growth and development of the Company is dependent. 
  
 2. Definitions. 
  
 For purposes of the Plan, the following terms shall be defined as set forth below: 
  
 (a) “Affiliate” means any entity other than the Company and its Subsidiaries that is designated by
the Board or the Committee as a participating employer under the Plan; provided, however, that the Company directly or indirectly owns at least 50% of the combined voting power of all classes of stock of such entity or at least 50% of the ownership
interests in such entity. 
  
 (b)
“Award” means any Option, SAR, Restricted Share, Restricted Share Unit, Performance Share, Performance Unit, Dividend Equivalent, or Other Share-Based Award granted to an Eligible Person under the Plan. 
  
 (c) “Award Agreement” means any written agreement,
contract, or other instrument or document evidencing an Award. 
  
 (d) “Beneficiary” means the person, persons, trust or trusts which have been designated by an Eligible Person in his or her most recent written beneficiary designation filed with the Company to receive the
benefits specified under this Plan upon the death of the Eligible Person, or, if there is no designated Beneficiary or surviving designated Beneficiary, then the person, persons, trust or trusts entitled by will or the laws of descent and
distribution to receive such benefits. 
  
 (e)
“Board” means the Board of Directors of the Company. 
  
 (f) “Code” means the Internal Revenue Code of 1986, as amended from time to time. References to any provision of the Code shall be deemed to include successor provisions thereto and regulations thereunder.

  
 (g) “Committee” means the
Compensation Committee of the Board, or such other Board committee (which may include the entire Board) as may be designated by the Board to administer the Plan; provided, however, that, unless otherwise determined by the Board, the Committee shall
consist of two or more directors of the Company, each of whom is a “non-employee director” within the meaning of Rule 16b-3 under the Exchange Act, to the extent applicable, and each of whom is an “outside director” within the
meaning of Section 162(m) of the Code, to the extent applicable; provided, further, that the mere fact that the Committee shall fail to qualify under either of the foregoing requirements shall not invalidate any Award made by the Committee
which Award is otherwise validly made under the Plan. 
  
 (h) “Company” means The Hain Celestial Group, Inc., a corporation organized under the laws of Delaware, or any successor corporation. 
  
 (i) “Director” means a member of the Board who is not an employee of the Company, a Subsidiary or an Affiliate. 

 (j) “Dividend Equivalent” means a right, granted under Section 5(g), to
receive cash, Shares, or other property equal in value to dividends paid with respect to a specified number of Shares. Dividend Equivalents may be awarded on a free-standing basis or in connection with another Award, and may be paid currently or on
a deferred basis. 
  
 (k) “Eligible
Person” means (i) an employee of the Company, a Subsidiary or an Affiliate, including any director who is an employee, (ii) a consultant to the Company or (iii) a Director. 
  
 (1) “Exchange Act” means the Securities Exchange
Act of 1934, as amended from time to time. References to any provision of the Exchange Act shall be deemed to include successor provisions thereto and regulations thereunder. 
  
 (m) “Fair Market Value” means, with respect to Shares or other property, the fair market value of
such Shares or other property determined by such methods or procedures as shall be established from time to time by the Committee. If the Shares are listed on any established stock exchange or a national market system, unless otherwise determined by
the Committee in good faith, the Fair Market Value of Shares shall mean the closing price on the date of the grant (or, if the Shares were not traded on that day, the next preceding day that the Shares are traded) on the principal exchange or market
system on which the Shares are traded, as such prices are officially quoted on such exchange. 
  
 (n) “ISO” means any Option intended to be and designated as an incentive stock option within the meaning of Section 422 of
the Code. 
  
 (o) “NQSO” means any
Option that is not an ISO. 
  
 (p)
“Option” means a right, granted under Section 5(b), to purchase Shares. 
  
 (q) “Other Share-Based Award” means a right, granted under Section 5(h), that relates to or is valued by reference to
Shares. 
  
 (r) “Participant” means an
Eligible Person who has been granted an Award under the Plan. 
  
 (s) “Performance Share” means a performance share granted under Section 5(f). 
  
 (t) “Performance Unit” means a performance unit granted under Section 5(f). 
  
 (u) “Plan” means this Amended and Restated 2002
Long Term Incentive and Stock Award Plan. 
  
 (v)
“Restricted Shares” means an Award of Shares under Section 5(d) that may be subject to certain restrictions and to a risk of forfeiture. 
  
 (w) “Restricted Share Unit” means a right, granted under Section 5(e), to receive Shares or cash at the end of a specified
deferral period. 
  
 (x) “Rule 16b-3”
means Rule 16b-3, as from time to time in effect and applicable to the Plan and Participants, promulgated by the Securities and Exchange Commission under Section 16 of the Exchange Act. 
  
 (y) “SAR” or “Share Appreciation Right”
means the right, granted under Section 5(c), to be paid an amount measured by the difference between the exercise price of the right and the Fair Market Value of Shares on the date of exercise of the right, with payment to be made in cash,
Shares, or property as specified in the Award or determined by the Committee. 
  

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 (z) “Shares” means common stock, $.01 par value per share, of the Company.

  
 (aa) “Subsidiary” means any
corporation (other than the Company) in an unbroken chain of corporations beginning with the Company if each of the corporations (other than the last corporation in the unbroken chain) owns shares possessing 50% or more of the total combined voting
power of all classes of stock in one of the other corporations in the chain. 
  
 3. Administration. 
  
 (a) Authority of the Committee. The Plan shall be administered by the Committee, and the Committee shall have full and final authority to take the following actions, in each case subject to and consistent with
the provisions of the Plan: 
  
 (i) to select
Eligible Persons to whom Awards may be granted; 
  
 (ii) to designate Affiliates; 
  
 (iii)
to determine the type or types of Awards to be granted to each Eligible Person; 
  
 (iv) to determine the type and number of Awards to be granted, the number of Shares to which an Award may relate, the terms and conditions
of any Award granted under the Plan (including, but not limited to, any exercise price, grant price, or purchase price, any restriction or condition, any schedule for lapse of restrictions or conditions relating to transferability or forfeiture,
exercisability, or settlement of an Award, and waiver or accelerations thereof, and waivers of performance conditions relating to an Award, based in each case on such considerations as the Committee shall determine), and all other matters to be
determined in connection with an Award; 
  
 (v) to
determine whether, to what extent, and under what circumstances an Award may be settled, or the exercise price of an Award may be paid, in cash, Shares, other Awards, or other property, or an Award may be canceled, forfeited, exchanged, or
surrendered; 
  
 (vi) to determine whether, to
what extent, and under what circumstances cash, Shares, other Awards, or other property payable with respect to an Award will be deferred either automatically, at the election of the Committee, or at the election of the Eligible Person; 

 
 (vii) to prescribe the form of each Award Agreement, which
need not be identical for each Eligible Person; 
  
 (viii) to adopt, amend, suspend, waive, and rescind such rules and regulations and appoint such agents as the Committee may deem necessary or advisable to administer the Plan; 
  
 (ix) to correct any defect or supply any omission or reconcile any inconsistency in the Plan and to construe
and interpret the Plan and any Award, rules and regulations, Award Agreement, or other instrument hereunder; 
  
 (x) to accelerate the exercisability or vesting of all or any portion of any Award or to extend the period during which an Award is
exercisable; 
  
 (xi) to determine whether
uncertificated Shares may be used in satisfying Awards and otherwise in connection with the Plan; and 
  
 (xii) to make all other decisions and determinations as may be required under the terms of the Plan or as the Committee may deem necessary
or advisable for the administration of the Plan. 
  

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 (b) Manner of Exercise of Committee Authority. The Committee shall have sole
discretion in exercising its authority under the Plan. Any action of the Committee with respect to the Plan shall be final, conclusive, and binding on all persons, including the Company, Subsidiaries, Affiliates, Eligible Persons, any person
claiming any rights under the Plan from or through any Eligible Person, and stockholders. The express grant of any specific power to the Committee, and the taking of any action by the Committee, shall not be construed as limiting any power or
authority of the Committee. The Committee may delegate to other members of the Board or officers or managers of the Company or any Subsidiary or Affiliate the authority, subject to such terms as the Committee shall determine, to perform
administrative functions and, with respect to Awards granted to persons not subject to Section 16 of the Exchange Act, to perform such other functions as the Committee may determine, to the extent permitted under Rule 16b-3 (if applicable) and
applicable law. 
  
 (c) Limitation of
Liability. Each member of the Committee shall be entitled to, in good faith, rely or act upon any report or other information furnished to him or her by any officer or other employee of the Company or any Subsidiary or Affiliate, the
Company’s independent certified public accountants, or other professional retained by the Company to assist in the administration of the Plan. No member of the Committee, and no officer or employee of the Company acting on behalf of the
Committee, shall be personally liable for any action, determination, or interpretation taken or made in good faith with respect to the Plan, and all members of the Committee and any officer or employee of the Company acting on their behalf shall, to
the extent permitted by law, be fully indemnified and protected by the Company with respect to any such action, determination, or interpretation. 
  
 (d) Limitation on Committee’s Discretion. Anything in this Plan to the contrary notwithstanding, in the case of any Award
which is intended to qualify as “performance-based compensation” within the meaning of Section 162(m) (4)(C) of the Code, if the Award Agreement so provides, the Committee shall have no discretion to increase the amount of
compensation payable under the Award to the extent such an increase would cause the Award to lose its qualification as such performance-based compensation. 
  
 4. Shares Subject to the Plan. 
  
 (a) Subject to adjustment as provided in Section 4(d) hereof, the total number of Shares reserved for issuance in connection with
Awards under the Plan shall be 6,450,000. Each Share subject to an Award (other than an Option or SAR) shall count as 2.4 Shares for the purposes of the limit set forth in the preceding sentence. No Award may be granted if the number of Shares to
which such Award relates, when added to the number of Shares previously issued under the Plan, exceeds the number of Shares reserved under the preceding sentence. If any Awards are forfeited, canceled, terminated, exchanged or surrendered or such
Award is settled in cash or otherwise terminates without a distribution of Shares to the Participant, any Shares counted against the number of Shares reserved and available under the Plan with respect to such Award shall, to the extent of any such
forfeiture, settlement, termination, cancellation, exchange or surrender, again be available for Awards under the Plan. Upon the exercise of any Award granted in tandem with any other Awards, such related Awards shall be canceled to the extent of
the number of Shares as to which the Award is exercised. 
  
 (b) Notwithstanding anything to the contrary: (i) shares tendered in payment of the exercise price of an Option shall not be added to the maximum share limitations described in Section 4(a) above;
(ii) shares withheld by the Company to satisfy the tax withholding obligation shall not be added to the maximum share limitations described in Section 4(a) above; and (iii) all shares covered by a SAR, to the extent that it is
exercised and whether or not the Shares are actually issued to the Participant upon exercise of the right, shall be considered issued or transferred pursuant to the Plan. 
  

 (c) Subject to adjustment as provided in Section 4(d) hereof and notwithstanding anything to the contrary contained
herein, the maximum number of Shares (i) with respect to which Options or SARs may 

  

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be granted during a calendar year to any Eligible Person under this Plan shall be 1,000,000 Shares, and (ii) with respect to Performance Shares,
Performance Units, Restricted Shares or Restricted Share Units intended to qualify as performance-based compensation within the meaning of Section 162(m)(4)(C) of the Code shall be the equivalent of 800,000 Shares during a calendar year to any
Eligible Person under this Plan. 
  
 (d) In the
event that the Committee shall determine that any dividend in Shares, recapitalization, Share split, reverse split, reorganization, merger, consolidation, spin-off, combination, repurchase, or share exchange, or other similar corporate transaction
or event, affects the Shares such that an adjustment is appropriate in order to prevent dilution or enlargement of the rights of Eligible Persons under the Plan, then the Committee shall make such equitable changes or adjustments as it deems
appropriate and, in such manner as it may deem equitable, adjust any or all of (i) the number and kind of shares which may thereafter be issued under the Plan, (ii) the number and kind of shares, other securities or other consideration
issued or issuable in respect of outstanding Awards, and (iii) the exercise price, grant price, or purchase price relating to any Award; provided, however, in each case that, with respect to ISOs, such adjustment shall be made in accordance
with Section 424(a) of the Code, unless the Committee determines otherwise. In addition, the Committee is authorized to make adjustments in the terms and conditions of, and the criteria and performance objectives, if any, included in, Awards in
recognition of unusual or non-recurring events (including, without limitation, events described in the preceding sentence) affecting the Company or any Subsidiary or Affiliate or the financial statements of the Company or any Subsidiary or
Affiliate, or in response to changes in applicable laws, regulations, or accounting principles; provided, however, that, if an Award Agreement specifically so provides, the Committee shall not have discretion to increase the amount of compensation
payable under the Award to the extent such an increase would cause the Award to lose its qualification as performance-based compensation for purposes of Section 162(m)(4)(C) of the Code and the regulations thereunder. 
  
 (e) Any Shares distributed pursuant to an Award may consist,
in whole or in part, of authorized and unissued Shares or treasury Shares including Shares acquired by purchase in the open market or in private transactions. 
  

5. Specific Terms of Awards. 
  
 (a) General. Awards may be granted on the terms and conditions set forth in this Section 5. In addition, the Committee may
impose on any Award or the exercise thereof, at the date of grant or thereafter (subject to Section 7(d)), such additional terms and conditions, not inconsistent with the provisions of the Plan, as the Committee shall determine, including terms
regarding forfeiture of Awards or continued exercisability of Awards in the event of termination of service by the Eligible Person. 
  
 (b) Options. The Committee is authorized to grant Options, which may be NQSOs or ISOs, to Eligible Persons on the following terms
and conditions: 
  
 (i) Exercise Price. The
exercise price per Share purchasable under an Option shall not be less than the Fair Market Value of the Shares on the date such Option is granted. 
  
 (ii) Option Term. The term of each Option shall be a maximum of seven (7) years from the date of grant of the Option.

  
 (iii) Time and Method of Exercise. The
Committee shall determine at the date of grant or thereafter the time or times at which an Option may be exercised in whole or in part (including, without limitation, upon achievement of performance criteria if deemed appropriate by the Committee),
the methods by which such exercise price may be paid or deemed to be paid (including, without limitation, broker-assisted exercise arrangements), the form of such payment (including, without limitation, cash, 

  

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Shares, or other property), and the methods by which Shares will be delivered or deemed to be delivered to Eligible Persons. 
  
 (iv) ISOs. The terms of any ISO granted under the Plan
shall comply in all respects with the provisions of Section 422 of the Code, including but not limited to the requirement that the ISO shall be granted within ten years from the earlier of the date of adoption or stockholder approval of the
Plan. ISOs may only be granted to employees of the Company or a Subsidiary. 
  
 (c) SARs. The Committee is authorized to grant SARs (Share Appreciation Rights) to Eligible Persons on the following terms and conditions: 
  
 (i) Right to Payment. A SAR shall confer on the Eligible Person to whom it is granted a right to
receive with respect to each Share subject thereto, upon exercise thereof, the excess of (1) the Fair Market Value of one Share on the date of exercise (or, if the Committee shall so determine in the case of any such right, the Fair Market
Value of one Share at any time during a specified period before or after the date of exercise) over (2) the exercise price per Share of the SAR on the date of grant of the SAR, which shall not be less than Fair Market Value (which in the case
of a SAR granted in tandem with an Option, shall be equal to the exercise price of the underlying Option). 
  
 (ii) SAR Term. The term of each SAR shall be a maximum of seven (7) years from the date of grant of the SAR. 
  
 (iii) Other Terms. The Committee shall determine, at
the time of grant or thereafter, the time or times at which a SAR may be exercised in whole or in part, the method of exercise, method of settlement, form of consideration payable in settlement, method by which Shares will be delivered or deemed to
be delivered to Eligible Persons, whether or not a SAR shall be in tandem with any other Award, and any other terms and conditions of any SAR. Unless the Committee determines otherwise, a SAR (1) granted in tandem with an NQSO may be granted at
the time of grant of the related NQSO or at any time thereafter and (2) granted in tandem with an ISO may only be granted at the time of grant of the related ISO. 
  

 (d) Restricted Shares. The Committee is authorized to grant Restricted Shares to Eligible Persons on the following
terms and conditions: 
  
 (i) Issuance and
Restrictions. Restricted Shares shall be subject to such restrictions on transferability and other restrictions, if any, as the Committee may impose at the date of grant or thereafter, which restrictions may lapse separately or in combination at
such times, under such circumstances (including, without limitation, upon achievement of performance criteria if deemed appropriate by the Committee), in such installments, or otherwise, as the Committee may determine. Except to the extent
restricted under the Award Agreement relating to the Restricted Shares, an Eligible Person granted Restricted Shares shall have all of the rights of a stockholder including, without limitation, the right to vote Restricted Shares and the right to
receive dividends thereon. If the lapse of restrictions is conditioned on the achievement of performance criteria, the Committee shall select the criterion or criteria from the list of criteria set forth in Section 5(f)(i). The Committee must
certify in writing prior to the lapse of restrictions conditioned on achievement of performance criteria that such performance criteria were in fact satisfied. 
  

(ii) Forfeiture. Except as otherwise determined by the Committee, at the date of grant or thereafter, upon termination of
service during the applicable restriction period, Restricted Shares and any accrued but unpaid dividends or Dividend Equivalents that are at that time subject to restrictions shall be forfeited; provided, however, that the Committee may provide, by
rule or regulation or in any Award Agreement, or may determine in any individual case, that restrictions or forfeiture conditions 

  

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relating to Restricted Shares will be waived in whole or in part in the event of terminations resulting from specified causes, and the Committee may in other
cases waive in whole or in part the forfeiture of Restricted Shares. 
  
 (iii) Certificates for Shares. Restricted Shares granted under the Plan may be evidenced in such manner as the Committee shall determine. If certificates representing Restricted Shares are registered in the
name of the Eligible Person, such certificates shall bear an appropriate legend referring to the terms, conditions, and restrictions applicable to such Restricted Shares, and the Company shall retain physical possession of the certificate.

  
 (iv) Dividends. Dividends paid on
Restricted Shares shall be either paid at the dividend payment date, or deferred for payment to such date as determined by the Committee, in cash or in unrestricted Shares having a Fair Market Value equal to the amount of such dividends. Shares
distributed in connection with a Share split or dividend in Shares, and other property distributed as a dividend, shall be subject to restrictions and a risk of forfeiture to the same extent as the Restricted Shares with respect to which such Shares
or other property has been distributed. 
  
 (e)
Restricted Share Units. The Committee is authorized to grant Restricted Share Units to Eligible Persons, subject to the following terms and conditions: 
  

(i) Award and Restrictions. Delivery of Shares or cash, as the case may be, will occur upon expiration of the deferral period
specified for Restricted Share Units by the Committee (or, if permitted by the Committee, as elected by the Eligible Person). In addition, Restricted Share Units shall be subject to such restrictions as the Committee may impose, if any (including,
without limitation, the achievement of performance criteria if deemed appropriate by the Committee), at the date of grant or thereafter, which restrictions may lapse at the expiration of the deferral period or at earlier or later specified times,
separately or in combination, in installments or otherwise, as the Committee may determine. If the lapse of restrictions is conditioned on the achievement of performance criteria, the Committee shall select the criterion or criteria from the list of
criteria set forth in Section 5(f)(i). The Committee must certify in writing prior to the lapse of restrictions conditioned on the achievement of performance criteria that such performance criteria were in fact satisfied. 
  
 (ii) Forfeiture. Except as otherwise determined by the
Committee at date of grant or thereafter, upon termination of service (as determined under criteria established by the Committee) during the applicable deferral period or portion thereof to which forfeiture conditions apply (as provided in the Award
Agreement evidencing the Restricted Share Units), or upon failure to satisfy any other conditions precedent to the delivery of Shares or cash to which such Restricted Share Units relate, all Restricted Share Units that are at that time subject to
deferral or restriction shall be forfeited; provided, however, that the Committee may provide, by rule or regulation or in any Award Agreement, or may determine in any individual case, that restrictions or forfeiture conditions relating to
Restricted Share Units will be waived in whole or in part in the event of termination resulting from specified causes, and the Committee may in other cases waive in whole or in part the forfeiture of Restricted Share Units. 
  
 (f) Performance Shares and Performance Units. The
Committee is authorized to grant Performance Shares or Performance Units or both to Eligible Persons on the following terms and conditions: 
  
 (i) Performance Period. The Committee shall determine a performance period (the “Performance Period”) of one or more
years and shall determine the performance objectives for grants of Performance Shares and Performance Units. Performance objectives may vary from Eligible Person to Eligible Person and shall be based upon one or more of the following performance
criteria as the Committee may deem appropriate: appreciation in value of the Shares; total stockholder return; earnings per share; operating income; net income; pretax earnings; pretax earnings before interest, 

  

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depreciation and amortization; pro forma net income; return on equity; return on designated assets; return on capital; economic value added; earnings;
revenues; expenses; operating profit margin; operating cash flow; free cash flow; cash flow return on investment; operating margin; net profit margin. The performance objectives may be determined by reference to the performance of the Company, or of
a Subsidiary or Affiliate, or of a division or unit of any of the foregoing. Performance Periods may overlap and Eligible Persons may participate simultaneously with respect to Performance Shares and Performance Units for which different Performance
Periods are prescribed. 
  
 (ii) Award
Value. At the beginning of a Performance Period, the Committee shall determine for each Eligible Person or group of Eligible Persons with respect to that Performance Period the range of number of Shares, if any, in the case of Performance
Shares, and the range of dollar values, if any, in the case of Performance Units, which may be fixed or may vary in accordance with such performance or other criteria specified by the Committee, which shall be paid to an Eligible Person as an Award
if the relevant measure of Company performance for the Performance Period is met. The Committee must certify in writing that the applicable performance criteria were satisfied prior to payment under any Performance Shares or Performance Units.

  
 (iii) Significant Events. If during the
course of a Performance Period there shall occur significant events as determined by the Committee which the Committee expects to have a substantial effect on a performance objective during such period, the Committee may revise such objective;
provided, however, that, if an Award Agreement so provides, the Committee shall not have any discretion to increase the amount of compensation payable under the Award to the extent such an increase would cause the Award to lose its qualification as
performance-based compensation for purposes of Section 162(m)(4)(C) of the Code and the regulations thereunder. 
  
 (iv) Forfeiture. Except as otherwise determined by the Committee, at the date of grant or thereafter, upon termination of service
during the applicable Performance Period, Performance Shares and Performance Units for which the Performance Period was prescribed shall be forfeited; provided, however, that the Committee may provide, by rule or regulation or in any Award
Agreement, or may determine in an individual case, that restrictions or forfeiture conditions relating to Performance Shares and Performance Units will be waived in whole or in part in the event of terminations resulting from specified causes, and
the Committee may in other cases waive in whole or in part the forfeiture of Performance Shares and Performance Units. 
  
 (v) Payment. Each Performance Share or Performance Unit may be paid in whole Shares, or cash, or a combination of Shares and cash
either as a lump sum payment or in installments, all as the Committee shall determine, at the time of grant of the Performance Share or Performance Unit or otherwise, commencing as soon as practicable after the end of the relevant Performance
Period. The Committee must certify in writing prior to the payment of any Performance Share or Performance Unit that the performance objectives and any other material terms were in fact satisfied. 
  
 (g) Dividend Equivalents. The Committee is authorized
to grant Dividend Equivalents to Eligible Persons. The Committee may provide, at the date of grant or thereafter, that Dividend Equivalents shall be paid or distributed when accrued or shall be deemed to have been reinvested in additional Shares, or
other investment vehicles as the Committee may specify; provided, however, that Dividend Equivalents (other than freestanding Dividend Equivalents) shall be subject to all conditions and restrictions of the underlying Awards to which they relate.

  
 (h) Other Share-Based Awards. The
Committee is authorized, subject to limitations under applicable law, to grant to Eligible Persons such other Awards that may be denominated or payable in, valued in whole or in part by reference to, or otherwise based on, or related to, Shares, as
deemed by the Committee to be consistent with the purposes of the Plan, including, without limitation, unrestricted shares awarded purely as 

  

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a “bonus” and not subject to any restrictions or conditions, other rights convertible or exchangeable into Shares, purchase rights for Shares,
Awards with value and payment contingent upon performance of the Company or any other factors designated by the Committee, and Awards valued by reference to the performance of specified Subsidiaries or Affiliates. The Committee shall determine the
terms and conditions of such Awards at date of grant or thereafter. Shares delivered pursuant to an Award in the nature of a purchase right granted under this Section 5(h) shall be purchased for such consideration, paid for at such times, by
such methods, and in such forms, including, without limitation, cash, Shares, notes or other property, as the Committee shall determine. Cash awards, as an element of or supplement to any other Award under the Plan, shall also be authorized pursuant
to this Section 5(h). 
  
 6. Certain
Provisions Applicable to Awards. 
  
 (a)
Stand-Alone, Additional, and Tandem. Awards granted under the Plan may, in the discretion of the Committee, be granted to Eligible Persons either alone or in addition to, in tandem with, any other Award granted under the Plan or any award
granted under any other plan or agreement of the Company, any Subsidiary or Affiliate. 
  
 (b) Substitute Awards in Transactions. Nothing contained in the Plan shall be construed to limit the right of the Committee to
grant Awards under the Plan in connection with the acquisition, whether by purchase, merger, consolidation or other transaction, of the business or assets of any corporation or other entity. Without limiting the foregoing, the Committee may grant
Awards under the Plan to an employee or director of another corporation or other entity who becomes an Eligible Person by reason of any such transaction in substitution for awards previously granted by such corporation or entity to such employee or
director. The terms and conditions of the substitute Awards may vary from the terms and conditions that would otherwise be required by the Plan solely to the extent the Committee deems necessary for such purpose. 
  
 (c) Term of Awards. The term of each Award granted to
an Eligible Person shall be for such period as may be determined by the Committee; provided, however, that in no event shall the term of any ISO or a SAR granted in tandem therewith exceed a period of seven years from the date of its grant (or such
shorter period as may be applicable under Section 422 of the Code). 
  
 (d) Repricing Prohibited. Subject to the anti-dilution adjustment provisions contained in Section 4(d) hereof, without the prior approval of the Company’s stockholders, neither the Committee nor the
Board shall cause the cancellation, substitution or amendment of an Option that would have the effect of reducing the exercise price of an Option previously granted under the Plan, or otherwise approve any modification to an Option that would be
treated as a “repricing” of such Option under any then applicable rules, regulations or listing requirements. 
  
 (e) Form of Payment Under Awards. Subject to the terms of the Plan and any applicable Award Agreement, payments to be made by the
Company or a Subsidiary or Affiliate upon the grant, maturation, or exercise of an Award may be made in such forms as the Committee shall determine at the date of grant or thereafter, including, without limitation, cash, Shares, notes or other
property, and may be made in a single payment or transfer, in installments, or on a deferred basis. The Committee may make rules relating to installment or deferred payments with respect to Awards, including the rate of interest to be credited with
respect to such payments, subject to applicable law. 
  
 (f) Nontransferability. Awards shall not be transferable by an Eligible Person except by will or the laws of descent and distribution (except pursuant to a Beneficiary designation) and shall be exercisable during the lifetime of an
Eligible Person only by such Eligible Person or his guardian or legal representative. An Eligible Person’s rights under the Plan may not be pledged, mortgaged, hypothecated, or otherwise encumbered, and shall not be subject to claims of the
Eligible Person’s creditors. 
  

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 (g) Noncompetition. The Committee may, by way of the Award Agreements or
otherwise, establish such other terms, conditions, restrictions and/or limitations, if any, of any Award, provided they are not inconsistent with the Plan, including, without limitation, the requirement that the Participant not engage in competition
with the Company. 
  
 7. General
Provisions. 
  
 (a) Compliance with Legal
and Trading Requirements. The Plan, the granting and exercising of Awards thereunder, and the other obligations of the Company under the Plan and any Award Agreement, shall be subject to all applicable federal, state and foreign laws, rules and
regulations, and to such approvals by any regulatory or governmental agency as may be required. The Company, in its discretion, may postpone the issuance or delivery of Shares under any Award until completion of such stock exchange or market system
listing or registration or qualification of such Shares or other required action under any state or federal law, rule or regulation as the Company may consider appropriate, and may require any Participant to make such representations and furnish
such information as it may consider appropriate in connection with the issuance or delivery of Shares in compliance with applicable laws, rules and regulations. No provisions of the Plan shall be interpreted or construed to obligate the Company to
register any Shares under federal, state or foreign law. The Shares issued under the Plan may be subject to such other restrictions on transfer as determined by the Committee. 
  
 (b) No Right to Continued Employment or Service. Neither the Plan nor any action taken thereunder
shall be construed as giving any employee, consultant, or director the right to be retained in the employ or service of the Company or any of its Subsidiaries or Affiliates, nor shall it interfere in any way with the right of the Company or any of
its Subsidiaries or Affiliates to terminate any employee’s, consultant’s or director’s employment or service at any time. 
  
 (c) Taxes. The Company or any Subsidiary or Affiliate is authorized to withhold from any Award granted, any payment relating to an
Award under the Plan, including from a distribution of Shares, or any payroll or other payment to an Eligible Person, amounts of withholding and other taxes due in connection with any transaction involving an Award, and to take such other action as
the Committee may deem advisable to enable the Company and Eligible Persons to satisfy obligations for the payment of withholding taxes and other tax obligations relating to any Award. This authority shall include authority to withhold or receive
Shares or other property and to make cash payments in respect thereof in satisfaction of an Eligible Person’s tax obligations; provided, however, that the amount of tax withholding to be satisfied by withholding Shares shall be limited to the
minimum amount of taxes, including employment taxes, required to be withheld under applicable Federal, state and local law. 
  
 (d) Amendment. The Board may at any time and from time to time and in any respect, amend or modify the Plan and any Award granted
under the Plan. The Board may seek the approval of any amendment or modification by the Company’s stockholders to the extent it deems necessary or advisable in its discretion for purposes of compliance with Section 162(m) or
Section 422 of the Code, the listing requirements of the applicable exchange or securities market or for any other purpose. Except as may be required to comply with Section 409A of the Code, no amendment or modification of the Plan or any
Award shall adversely affect any Award theretofore granted without the consent of the Eligible Person or the permitted transferee of the Award. 
  
 (e) No Rights to Awards; No Stockholder Rights. No Eligible Person or employee shall have any claim to be granted any Award under
the Plan, and there is no obligation for uniformity of treatment of Eligible Persons and employees. No Award shall confer on any Eligible Person any of the rights of a stockholder of the Company unless and until Shares are duly issued or transferred
to the Eligible Person in accordance with the terms of the Award. 
  

 10 

 (f) Unfunded Status of Awards. The Plan is intended to constitute an
“unfunded” plan for incentive compensation. With respect to any payments not yet made to a Participant pursuant to an Award, nothing contained in the Plan or any Award shall give any such Participant any rights that are greater than those
of a general creditor of the Company; provided, however, that the Committee may authorize the creation of trusts or make other arrangements to meet the Company’s obligations under the Plan to deliver cash, Shares, other Awards, or other
property pursuant to any Award, which trusts or other arrangements shall be consistent with the “unfunded” status of the Plan unless the Committee otherwise determines with the consent of each affected Participant. 
  
 (g) Nonexclusivity of the Plan. Neither the adoption
of the Plan by the Board nor its submission to the stockholders of the Company for approval shall be construed as creating any limitations on the power of the Board to adopt such other incentive arrangements as it may deem desirable, including,
without limitation, the granting of options and other awards otherwise than under the Plan, and such arrangements may be either applicable generally or only in specific cases. 
  
 (h) Not Compensation for Benefit Plans. No Award payable under this Plan shall be deemed salary or
compensation for the purpose of computing benefits under any benefit plan or other arrangement of the Company for the benefit of its employees, consultants or directors unless the Company shall determine otherwise. 
  
 (i) No Fractional Shares. No fractional Shares shall
be issued or delivered pursuant to the Plan or any Award. The Committee shall determine whether cash, other Awards, or other property shall be issued or paid in lieu of such fractional Shares or whether such fractional Shares or any rights thereto
shall be forfeited or otherwise eliminated. 
  
 (j) Governing Law. The validity, construction, and effect of the Plan, any rules and regulations relating to the Plan, and any Award Agreement shall be determined in accordance with the laws of New York without giving effect to
principles of conflict of laws thereof. 
  
 (k)
Effective Date; Plan Termination. The Plan shall become effective as of December 1, 2005 (the “Effective Date”). Notwithstanding the foregoing, the adoption of this Plan is expressly conditioned upon the approval of the
stockholders of the Company. The Plan shall terminate as to future awards on the date which is ten (10) years after the Effective Date. 
  
 (l) Titles and Headings. The titles and headings of the sections in the Plan are for convenience of reference only. In the event of
any conflict, the text of the Plan, rather than such titles or headings, shall control. 
  
 (m) Section 409A. It is intended that the Plan and Awards issued thereunder will comply with Section 409A of the Code
(and any regulations and guidelines issued thereunder) to the extent the Awards are subject thereto, and the Plan and such Awards shall be interpreted on a basis consistent with such intent. The Plan and any Award Agreements issued thereunder may be
amended in any respect deemed by the Board or the Committee to be necessary in order to preserve compliance with Section 409A of the Code. 
  

 11Amendment and Consent to the Business Alliance Agreement

 Exhibit 10.12 
 EXECUTION COPY 
 AMENDMENT AND CONSENT 
 TO 
 THE BUSINESS ALLIANCE AGREEMENT 
 BETWEEN 
 LAZARD GROUP LLC

 AND 
 LFCM
HOLDINGS LLC 
 This AMENDMENT AND CONSENT (this “Amendment and Consent”) to the Business Alliance Agreement between
Lazard Group LLC, a Delaware limited liability company (“Lazard Group”), and LFCM Holdings LLC, a Delaware limited liability company (“LFCM Holdings”), dated as of May 10, 2005 (as amended, modified,
supplemented or restated from time to time, the “BAA”), is entered into as of February 9, 2009. Capitalized terms used but not defined herein shall have the meanings ascribed to them in the BAA. 
 WHEREAS, pursuant to Section 5.5 (Amendment, Modification or Waiver) of the BAA, Lazard Group and LFCM Holdings desire to amend the BAA as
set forth in this Amendment and Consent; 
 WHEREAS, concurrently with the execution of this Amendment and Consent, Lazard Group and LFCM
Holdings are entering into that certain Transaction Agreement dated as of the date hereof (the “Transaction Agreement”), with Lazard Alternative Investments LLC, a Delaware limited liability company formerly known as Lazard
Alternative Investments (North America) LLC (“LAI North America”), Lazard Frères & Co. LLC, a New York limited liability company, CP II LFXR LLC, a Delaware limited liability company, Corporate Partners II Holdings
LLC, a Delaware limited liability company (“CP II Holdings”), Corporate Partners LLC, a Delaware limited liability company (“CP II MgmtCo”), CPXR, LLC, a Delaware limited liability company (“CPXR”),
Ali E. Wambold, Jonathan H. Kagan and Paul J. Zepf; and 
 WHEREAS, pursuant to Section 3.7(a) (Covenants Relating to the North
American Merchant Banking Business) of the BAA, Lazard Group consents to LAI North America and its Subsidiaries concurrently herewith entering into the Transaction Agreement and consummating the transactions contemplated therein, including,
without limitation, the transfer by LAI North America of all of its membership interests in (i) CP II Holdings, (ii) CP II MgmtCo, (iii) CP II DPI Coinvestors LLC, a Delaware limited liability company, (iv) CP II OA Coinvestors
LLC, a Delaware limited liability company, (v) CP II MC Coinvestors LLC, a Delaware limited liability company, (vi) CP II IS Coinvestors LLC, a Delaware limited liability company, (vii) CP II GH Coinvestors LLC, a Delaware limited
liability company, (viii) CP II WW Coinvestors LLC, a Delaware limited liability company, and (ix) CP II UT Coinvestors LLC, a Delaware limited liability company (collectively, the “CP II Entities”), to CPXR. 

 NOW, THEREFORE, it is hereby agreed as follows: 
 1. CERTAIN DEFINED TERMS. For purposes of this Amendment and Consent, the term “Closing” has the meaning ascribed to such term in
the Transaction Agreement. 
 2. EFFECTIVENESS AND TERMINATION. The parties hereto hereby agree that (a) this Amendment and
Consent shall only be effective as of the Closing (except for this Section 2 and Section 6, which Sections shall be effective as of the date hereof) and no party hereto shall have any rights or obligations whatsoever under this Amendment
and Consent until the Closing and (b) this Amendment and Consent shall automatically terminate upon the termination of the Transaction Agreement pursuant to Section 4.14(a) of the Transaction Agreement. If this Amendment and Consent is
terminated pursuant to clause (b) of the preceding sentence, this Amendment and Consent and all transactions contemplated herein shall immediately become null and void and there shall be no liability based upon such termination or obligation on
the part of any party hereto, except that this Section 2 and Section 6 shall survive any termination of this Amendment and Consent and except as otherwise provided in Section 5.02 of the Transaction Agreement. 
 3. GENERAL AMENDMENT. The BAA is hereby amended, effective as of the Closing, by replacing all references to “the date hereof” with
“May 10, 2005”. 
 4. AMENDMENTS TO SECTIONS. 
 (a) Section 1.1 (Certain Defined Terms) of the BAA is hereby amended, effective as of the Closing, by adding the following clause (z) at the end of the proviso in the definition of “Change of
Control”: 
 “and (z) any sale, assignment or transfer by LAI North America of all of the outstanding limited
liability company interests held by LAI North America in certain of its Subsidiaries to CPXR, LLC, a Delaware limited liability company, pursuant to an agreement entered into by Lazard Group, LFCM Holdings, LAI North America and certain other
parties shall not be deemed a Change of Control of LFCM Holdings, LAI Holdings, LAI North America or any Subsidiary of LAI North America.” 
 (b) Section 1.1 (Certain Defined Terms) of the BAA is hereby further amended, effective as of the Closing, by deleting the definition of “North American Competitive Business” in its entirety and replacing it with the
following: 
 ““North American Competitive Business” means the management, sponsorship or formation of

  

 2 

 
alternative investment Funds (including related joint ventures and alliances and including management, general partner and investment activities) whose
primary objective is to make privately negotiated (i) investments in real estate and real estate-related assets and companies located or primarily doing business in North America or headquartered in North America with substantial business in
North America or loans relating to real estate located in North America or (ii) venture capital investments in technology and information services companies located or primarily doing business in North America or headquartered in North America
with substantial business in North America; provided, however, that the term “North American Competitive Business” shall not include any business or activity conducted by Lazard Group or any of its Subsidiaries immediately after the
Separation or conducted by Wasserstein & Co., LP or Wasserstein & Co., Inc.” 
 (c) Section 1.1 (Certain
Defined Terms) of the BAA is hereby further amended, effective as of the Closing, by deleting the definition of “North American Merchant Banking Business” in its entirety and replacing it with the following: 
 ““North American Merchant Banking Business” means the management, sponsorship or formation of alternative
investment Funds (including related joint ventures and alliances and including management, general partner and investment activities) whose primary objective is to make privately negotiated (i) investments in real estate and real estate-related
assets and companies located or primarily doing business in North America or headquartered in North America with substantial business in North America or loans relating to real estate located in North America or (ii) venture capital investments
in technology and information services companies located or primarily doing business in North America or headquartered in North American with substantial business in North America.” 
 (d) Section 3.1 (Option to Purchase LAI North America) and Section 3.2(d) (Closing of the Purchase and Sale of LAI North
America) of the BAA are each hereby amended, effective as of the Closing, by replacing “six million five hundred thousand dollars (U.S. $6,500,000)” with “two million five hundred thousand dollars (U.S. $2,500,000)”.

  

 3 

 (e) Section 3.7(a)(iv)(A) (Covenants Relating to the North American Merchant Banking
Business) of the BAA is hereby amended, effective as of the Closing, by (i) replacing the word “or” which appears immediately before sub-clause (4) with a comma and (ii) adding the following immediately after the end of
sub-clause (4): 
 “or (5) distributions of cash from LAI North America to LAI Holdings or from LAI Holdings to
LFCM Holdings, in each case, in amounts less than or equal to amounts received, pursuant to the LAI-CP II Services Agreement, by LAI North America from Corporate Partners LLC, a Delaware limited liability company (“CP II MgmtCo”),
or its Affiliates other than amounts received in connection with the provision by LAI North America of the services listed as items 1-3 on Schedule 1 to the LAI-CP II Services Agreement (for purposes of this sub-clause (5), the “LAI-CP II
Services Agreement” means that certain Services Agreement dated as of February 9, 2009 by and between LAI North America and CP II MgmtCo),” 
 (f) Section 3.7(c) (Formation of Funds) of the BAA is hereby amended, effective as of the Closing, by deleting clause (ii) in its entirety. 
 5. AMENDMENTS TO SCHEDULES. 
 (a)
Schedule 3.7(a)(xiv) of the BAA is hereby amended, effective as of the Closing, by deleting it in its entirety and replacing it with the Schedule 3.7(a)(xiv) attached hereto. 
 (b) Schedule 3.7(a)(xvii) of the BAA is hereby amended, effective as of the Closing, by deleting it in its entirety and replacing it with the
Schedule 3.7(a)(xvii) attached hereto. 
 (c) Schedule 3.7(b)(xvii) of the BAA is hereby amended, effective as of the Closing,
by deleting it in its entirety and replacing it with the Schedule 3.7(b)(xvii) attached hereto. 
 (d) Schedule 3.7(c)(i) of
the BAA is hereby amended, effective as of the Closing, by deleting it in its entirety and replacing it with the Schedule 3.7(c)(i) attached hereto. 
 6. CONSENT. Lazard Group hereby provides its written consent, effective as of the date hereof, to LAI North America and its Subsidiaries concurrently herewith entering into the Transaction Agreement and
consummating the transactions contemplated therein, including, without limitation, the sale, assignment and transfer by 

  

 4 

 
LAI North America of all of its membership interests in the CP II Entities to CPXR. For the avoidance of doubt, it is hereby understood and agreed that the
foregoing consent of Lazard Group shall apply for all purposes under Section 3.7(a) (Covenants Relating to the North American Merchant Banking Business) of the BAA where the consent of Lazard Group is needed for LAI North America and its
Subsidiaries to enter into the Transaction Agreement and consummate the transactions contemplated therein. 
 7. BINDING EFFECT. This
Amendment and Consent shall be binding upon, and shall inure to the benefit of, all parties to the BAA and their respective successors and permitted assigns. 
 8. EXECUTION IN COUNTERPARTS. This Amendment and Consent may be executed in counterparts, each of which shall be deemed an original, but all of which shall constitute one and the same instrument. 
 9. INVALIDITY OF PROVISIONS. If any provision of this Amendment and Consent is declared or found to be illegal, unenforceable or void, in whole or
in part, then the parties hereto shall be relieved of all obligations arising under such provision, but only to extent that it is illegal, unenforceable or void, it being the intent and agreement of the parties hereto that this Amendment and Consent
shall be deemed amended by modifying such provision to the extent necessary to make it legal and enforceable while preserving its intent or, if that is not possible, by substituting therefor another provision that is legal and enforceable and
achieves the same objectives, and the validity or enforceability of any other provision hereof shall not be affected thereby. 
 10.
AGREEMENT IN EFFECT. Except as otherwise expressly provided herein, the BAA shall remain in full force and effect. 
 11. GOVERNING
LAW. This Amendment and Consent shall be governed by, and interpreted in accordance with, the laws of the State of Delaware, all rights and remedies being governed by such laws without regard to principles of conflicts of laws. 
 [Remainder of this page intentionally left blank] 
  

 5 

 IN WITNESS WHEREOF, the undersigned have duly executed this Amendment and Consent as of the date first
written above. 
  

			
	LAZARD GROUP LLC
		
	By:	 	 /s/ Alexander F. Stern

	Name:	 	Alexander F. Stern
	Title:	 	Chief Operating Officer
	
	LFCM HOLDINGS LLC
		
	By:	 	 /s/ Barry W. Ridings

	Name:	 	Barry W. Ridings
	Title:	 	Chairman

 Signature Page to Amendment and Consent to the Business Alliance Agreement

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