Document:

General Release

 Exhibit 10.3 
 GENERAL RELEASE 
 I, Mohamad Ali, in consideration of and subject to the
performance by Aspect Software, Inc. (the “Company”), of its obligations hereunder, do hereby release and forever discharge as of the date hereof the Company and its affiliates and all present and former directors, officers, agents,
representatives, employees, successors and assigns of the Company and its affiliates and the Company’s direct or indirect owners (collectively, the “Released Parties”) to the extent provided below. 

1. I acknowledge and agree that my employment with the Company shall terminate on August 2, 2012 and that in lieu of any and all payments or
benefits to be paid or granted to me under that certain Executive Employment Agreement, dated as of April 2, 2012, between me and the Company (the “Agreement”), the Company shall make a one-time payment to me of $628,000, net
of applicable withholdings, promptly following the date on which this General Release becomes effective and irrevocable (the “Severance Payment”). 
 2. I understand that the Severance Payment represents, in part, consideration for signing this General Release and is not salary, wages or benefits to which I was already entitled. I understand and agree
that I will not receive the Severance Payment unless I execute this General Release and do not revoke this General Release within the time period permitted hereafter or breach this General Release. Such payments and benefits will not be considered
compensation for purposes of any employee benefit plan, program, policy or arrangement maintained or hereafter established by the Company or its affiliates. I also acknowledge and represent that I have received all payments and benefits that I am
entitled to receive (as of the date hereof) by virtue of any employment by the Company. 
 3. Except as provided in Section 5 below
and except for the provisions of the Agreement which expressly survive the termination of my employment with the Company, I knowingly and voluntarily (for myself, my heirs, executors, administrators and assigns) release and forever discharge the
Company and the other Released Parties from any and all claims, suits, controversies, actions, causes of action, cross-claims, counter-claims, demands, debts, compensatory damages, liquidated damages, punitive or exemplary damages, other damages,
claims for costs and attorneys’ fees, or liabilities of any nature whatsoever in law and in equity, both past and present (through the date this General Release becomes effective and enforceable) and whether known or unknown, suspected, or
claimed against the Company or any of the Released Parties which I, my spouse, or any of my heirs, executors, administrators or assigns, may have, which arise out of or are connected with my employment with, or my separation or termination from, the
Company (including, but not limited to, any allegation, claim or violation, arising under: Title VII of the Civil Rights Act of 1964, as amended; the Civil Rights Act of 1991; the Age Discrimination in Employment Act of 1967, as amended (including
the Older Workers Benefit Protection Act); the Equal Pay Act of 1963, as amended; the Americans with Disabilities Act of 1990; the Family and Medical Leave Act of 1993; the Worker Adjustment Retraining and Notification Act; the Employee Retirement
Income Security Act of 1974; any applicable Executive Order Programs; the Fair Labor Standards Act; or their state or local counterparts; or under any other federal, state or local civil or human rights law, or under any other local, state, or
federal law, regulation or ordinance; or under any public policy, contract or tort, or under common law; or arising under any policies, practices or procedures of the Company; or any claim for wrongful discharge, breach of contract, infliction of
emotional distress, defamation; or any claim for costs, fees, or other expenses, including attorneys’ fees incurred in these matters) (all of the foregoing collectively referred to herein as the “Claims”). Notwithstanding the
foregoing, I do not release, discharge or waive any rights to (1) payments and benefits provided under the Agreement that are contingent upon my 

 
execution of this General Release, (2) benefit claims under any employee benefit plans in which I am a participant by virtue of my employment with the Company arising after the execution of
this General Release by me, and (3) rights to be indemnified and/or advanced expenses under any corporate document of the Company or Parent, any agreement or pursuant to applicable law or to be covered under any applicable directors’ and
officers’ liability insurance policies. 
 4. I represent that I have made no assignment or transfer of any right, claim, demand, cause of
action, or other matter covered by Section 3 above. 
 5. I agree that this General Release does not waive or release any rights or
claims that I may have under the Age Discrimination in Employment Act of 1967 which arise after the date I execute this General Release. I acknowledge and agree that my separation from employment with the Company in compliance with the terms of the
Agreement shall not serve as the basis for any claim or action (including, without limitation, any claim under the Age Discrimination in Employment Act of 1967). 
 6. In signing this General Release, I acknowledge and intend that it shall be effective as a bar to each and every one of the Claims hereinabove mentioned or implied. I expressly consent that this General
Release shall be given full force and effect according to each and all of its express terms and provisions, including those relating to unknown and unsuspected Claims (notwithstanding any state statute that expressly limits the effectiveness of a
general release of unknown, unsuspected and unanticipated Claims), if any, as well as those relating to any other Claims hereinabove mentioned or implied. Notwithstanding the foregoing, I further acknowledge that I am not waiving and am not being
required to waive any right that cannot be waived by law, including the right to file a charge or participate in an administrative investigation or proceeding of the Equal Employment Opportunity Commission or any other government agency prohibiting
waiver of such right; provided, however, that I hereby disclaim and waive any right to share or participate in any monetary award resulting from the prosecution of such charge or investigation. I further agree that I am not aware of any pending
claim of the type described in Section 3 as of the execution of this General Release. 
 7. I agree that neither this General
Release, nor the furnishing of the consideration for this General Release, shall be deemed or construed at any time to be an admission by the Company, any Released Party or myself of any improper or unlawful conduct. 

8. I agree that I will forfeit all amounts payable by the Company pursuant to the Agreement if I challenge the validity of this General Release. I also
agree that if I violate this General Release by suing the Company or the other Released Parties, I will pay all costs and expenses of defending against the suit incurred by the Released Parties, including reasonable attorneys’ fees, and return
all payments received by me pursuant to the Agreement. I expressly acknowledge and reaffirm my understanding of and obligations under the terms of the Agreement, including, without limitation, Section 4 of the Agreement (and acknowledge, for
avoidance of doubt, that Avaya Inc. and its affiliates shall be considered a “Material Competitor” of the Company for purposes thereof). 
 9. I agree that this General Release and the Agreement are confidential and agree not to disclose any information regarding the terms of this General Release or the Agreement, except to my immediate
family and any tax, legal or other counsel I have consulted regarding the meaning or effect hereof or as required by law, and I will instruct each of the foregoing not to disclose the same to anyone. 

  
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 10. Any non-disclosure provision in this General Release does not prohibit or restrict me (or my attorney)
from responding to any inquiry about this General Release or its underlying facts and circumstances by the Securities and Exchange Commission, the National Association of Securities Dealers, Inc., any other self-regulatory organization or
governmental entity. 
 11. I agree to reasonably cooperate with the Company in any internal investigation, any administrative, regulatory, or
judicial proceeding or any dispute with a third party. I understand and agree that my cooperation may include, but not be limited to, making myself available to the Company upon reasonable notice for interviews and factual investigations; appearing
at the Company’s request to give testimony without requiring service of a subpoena or other legal process; volunteering to the Company pertinent information; and turning over to the Company all relevant documents which are or may come into my
possession all at times and on schedules that are reasonably consistent with my other permitted activities and commitments. I understand that in the event the Company asks for my cooperation in accordance with this provision, the Company will
reimburse me solely for reasonable travel expenses, (including lodging and meals), upon my submission of receipts. 
 12. Notwithstanding
anything in this General Release to the contrary, this General Release shall not relinquish, diminish, or in any way affect any rights or claims arising out of any breach by the Company or by any Released Party of the Agreement after the date
hereof. 
 13. Whenever possible, each provision of this General Release shall be interpreted in such manner as to be effective and valid under
applicable law, but if any provision of this General Release is held to be invalid, illegal or unenforceable in any respect under any applicable law or rule in any jurisdiction, such invalidity, illegality or unenforceability shall not affect any
other provision or any other jurisdiction, but this General Release shall be reformed, construed and enforced in such jurisdiction as if such invalid, illegal or unenforceable provision had never been contained herein. 

  
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 BY SIGNING THIS GENERAL RELEASE, I REPRESENT AND AGREE THAT: 

(a) I HAVE READ IT CAREFULLY; 
 (b) I UNDERSTAND ALL OF ITS TERMS AND KNOW THAT I AM GIVING UP IMPORTANT RIGHTS, INCLUDING BUT NOT LIMITED TO, RIGHTS UNDER THE AGE DISCRIMINATION IN EMPLOYMENT ACT OF 1967, AS AMENDED, TITLE VII OF THE
CIVIL RIGHTS ACT OF 1964, AS AMENDED; THE EQUAL PAY ACT OF 1963, THE AMERICANS WITH DISABILITIES ACT OF 1990; AND THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED; 

(c) I VOLUNTARILY CONSENT TO EVERYTHING IN IT; 
 (d) I HAVE BEEN ADVISED TO CONSULT WITH AN ATTORNEY BEFORE EXECUTING IT AND I HAVE DONE SO OR, AFTER CAREFUL READING AND CONSIDERATION I HAVE CHOSEN NOT TO DO SO OF MY OWN VOLITION; 

(e) I HAVE HAD AT LEAST 21 DAYS FROM THE DATE OF MY RECEIPT OF THIS RELEASE SUBSTANTIALLY IN ITS FINAL FORM ON JULY 30, 2012 TO CONSIDER
IT AND THE CHANGES MADE SINCE THE JULY 30, 2012 VERSION OF THIS RELEASE ARE NOT MATERIAL AND WILL NOT RESTART THE REQUIRED 21-DAY PERIOD; 
 (f) THE CHANGES TO THE AGREEMENT SINCE JULY 30, 2012 EITHER ARE NOT MATERIAL OR WERE MADE AT MY REQUEST; 
 (g) I UNDERSTAND THAT I MAY EXECUTE THIS GENERAL RELEASE LESS THAN 21 DAYS FROM ITS RECEIPT FROM THE COMPANY, BUT AGREE THAT SUCH EXECUTION WILL REPRESENT MY KNOWING WAIVER OF THE REQUIRED 21-DAY PERIOD;

 (h) I UNDERSTAND THAT I HAVE SEVEN DAYS AFTER THE EXECUTION OF THIS RELEASE TO REVOKE IT AND THAT THIS RELEASE SHALL NOT
BECOME EFFECTIVE OR ENFORCEABLE UNTIL THE REVOCATION PERIOD HAS EXPIRED; 
 (i) I HAVE SIGNED THIS GENERAL RELEASE KNOWINGLY AND
VOLUNTARILY AND WITH THE ADVICE OF ANY COUNSEL RETAINED TO ADVISE ME WITH RESPECT TO IT; AND 
 (j) I AGREE THAT THE PROVISIONS
OF THIS GENERAL RELEASE MAY NOT BE AMENDED, WAIVED, CHANGED OR MODIFIED EXCEPT BY AN INSTRUMENT IN WRITING SIGNED BY AN AUTHORIZED REPRESENTATIVE OF THE COMPANY AND BY ME. 

 

									
	DATE:	  	 July 31, 2012
	  		  		  	 /s/ Mohamad Ali

 Signature Page to Separation Agreement and General ReleaseUnassociated Document

  
 

Exhibit 10.1

 

CAPITAL TRUST, INC.

____________________________

 

Form of Performance-Based Annual Cash Bonus Award Agreement

__________________________________

 

This Performance-Based Annual Cash Award Agreement (this “Award Agreement”) between Capital Trust, Inc. (the “Company”) and (the “Participant”) is dated effective (the “Grant Date”).

 

The Award (as defined below) is conditioned on the Participant’s execution of this Award Agreement within thirty (30) days after the Grant Date.  By executing this Award Agreement, the Participant will be irrevocably agreeing that all of the Participant’s rights with respect to the Award (as defined below) will be determined solely and exclusively by reference to the terms and conditions of this Award Agreement. As a result, the Participant should not execute this Award Agreement until the Participant has (i) carefully considered the terms and conditions of this Award Agreement, and (ii) consulted with the Participant’s personal legal and tax advisors about this Award Agreement.  For the avoidance of doubt, this Award is not granted under or affected by, and is intended to be independent of, the Company’s 2011 Long-Term Incentive Plan or any other incentive compensation plan of the Company and its affiliates.

 

1.           Award.  Subject to the terms and conditions hereof, the Company hereby grants to Participant the right to earn a cash bonus (the “Award”) in an amount determined pursuant Section 2 hereof (a “Performance Bonus”) based upon the Company’s achievement of certain performance or strategic goals for its fiscal year ended December 31, 2012 (“Fiscal 2012”) or, in the case of a Strategic Transaction (as defined below) or a Qualifying Termination (as defined below), the applicable portion of Fiscal 2012 (as applicable, the “Performance Period”).  Except as provided below with respect to a Qualifying Termination (as defined below), the Participant must be employed continuously in the position of by the Company from the date hereof through the last day of the Performance Period in order to receive Performance Bonus.

 

2.           Amount and Payment of Performance Bonus.

 

(a)           Defined Terms.  For the purposes of this Award Agreement, in addition to the capitalized terms defined elsewhere in this Award Agreement, the following terms shall have the meanings ascribed to them below:

 

(i)         “CTIMCO” means CT Investment Management Co., LLC.

 

(ii)         “Incremental CTIMCO Revenue” means incremental revenues received in Fiscal 2012 for activities conducted by CTIMCO in Fiscal 2012.

 

  

1

  

 

(iii)         “Qualifying Termination” means the termination of the Participant’s employment (a) by the Company without “Cause” (as defined in the Company’s 2011 Long-Term Inventive Plan) (b) as a result of the Participant’s death or becoming “Disabled” (as defined in the Company’s 2011 Long-Term Inventive Plan), or (c) by the Participant following (i) a material reduction in the Participant’s authority, duties and responsibilities, provided that a mere change in title alone shall not constitute a material reduction in job responsibilities; (ii) an involuntary relocation of the Participant’s place of employment to a facility or location more than 50 miles from the Participant’s then-principal work site; or (iii) a material reduction in the Participant’s base salary and annual bonus other than as part of a reduction consistent with a general reduction of pay for similarly-situated participants in the Company’s compensation and incentive programs (each of clauses (c)(i), (c)(ii) and (c)(iii) shall constitute “Good Reason”).  Notwithstanding the foregoing, an event that would otherwise constitute Good Reason shall fail to constitute Good Reason if (I) the Participant does not provide the Company with written notice, of both the Participant’s intent to terminate employment and a description of the event the Participant believes to constitute Good Reason, within 30 days after the event occurs; (II) the Company reverses the action or cures the default that constitutes Good Reason within 30 days after the Participant provides the notice described in clause (I) hereof (the “Cure Period”); or (III) the Participant does not actually terminate his employment within the ninety (90) day period immediately following the event constituting Good Reason.

 

(iv)          “Strategic Transaction” means a recapitalization or sale of the Company and/or sale of components of the Company’s business as contemplated in the Company’s ongoing strategic alternatives process overseen by the special committee of the board of directors of the Company.

 

(v)         “Total Gross Originations” means the equity invested in Fiscal 2012 or committed to be invested pursuant to commitments entered into during Fiscal 2012, in each case, in transactions originated by CTIMCO for the account of the Company or investment vehicles under management.

 

(vi)         “Total Shareholder Return” shall be determined in a manner consistent with prior bonus programs (i.e., taking into account dividends and other amounts paid or declared with respect to outstanding shares) and, except as otherwise set forth below with respect to a Strategic Transaction (as defined below), shall be based on the appreciation in the average closing stock price of the Company during the ten-day period immediately prior to the commencement of the Performance Period and the average closing stock price of the Company during the ten-day period immediately prior to the end of the Performance Period.

 

(b)           Range of Performance Bonus Amount.  The Participant shall have the opportunity to earn a Performance Bonus within the following range for threshold, target and maximum performance as follows:

 

	
Minimum Bonus Amount

	 	
Target Bonus Amount

	 	
Maximum Bonus Amount

	  	 	  	 	  

 

 

(c)           Calculation of Performance Bonus if No Strategic Transaction is Consummated Prior to the Completion of Fiscal 2012 and No Qualifying Termination.  Except as otherwise stated below with respect to a Strategic Transaction or a Qualifying Termination, the amount of the Participant’s Performance Bonus shall be determined based on Total Shareholder Return, Total Gross Originations and Incremental CTIMCO Revenue (each a “Performance Measure” and collectively, the “Performance Measures”), in each case with respect to Fiscal 2012, and shall be calculated as follows:

 

  

2

  

 

	  	 	
Level of Performance

	 	  
	
Performance Measure

	 	
Threshold

	 	
Target

	 	
Maximum

	 	
Weight

	
Total Shareholder Return

	 	
[***]

	 	
[***]

	 	
[***]

	 	
[***]

	
Total Gross Originations

	 	
[***]

	 	
[***]

	 	
[***]

	 	
[***]

	
Incremental CTIMCO Revenue

	 	
[***]

	 	
[***]

	 	
[***]

	 	
[***]

 

Calculate and add the following for each Performance Measure to determine the cash amount the Participant qualifies to receive:

 

	
  

	
·

	
If actual performance of the Performance Measure is below Threshold, the Weight multiplied by the Minimum Bonus Amount.

 

	
  

	
·

	
If actual performance of the Performance Measure is at or above Threshold, but below Target, the sum of (a) the Weight multiplied by the Minimum Bonus Amount and (b) the amount obtained by multiplying the Weight by the product obtained by multiplying (y)          , by (z) the quotient obtained by dividing (i) the amount by which actual performance exceeds Threshold performance by (ii) the amount by which Target performance exceeds Threshold performance.

 

	
  

	
·

	
If actual performance of the Performance Measure is at or above Target, but below Maximum, the sum of (a) the Weight multiplied by Target Bonus Amount and (b) the amount obtained by multiplying the Weight by the product obtained by multiplying (y)           by (z) the quotient obtained by dividing (i) the amount by which actual performance exceeds Target performance by (ii) the amount by which Maximum performance exceeds Target performance.

 

	
  

	
·

	
If actual performance of Performance Measure is at or above Maximum, the Weight multiplied by Maximum Bonus Amount.

 

(d)           Calculation of Bonus Amount if Strategic Transaction is Consummated Prior to the Completion of Fiscal 2012.  In the event that a Strategic Transaction is consummated prior to the completion of Fiscal 2012:

 

	
  

	
(i)

	
the amount of the Performance Bonus shall be determined, without pro ration, with respect to each Performance Measure based on the higher of “Target” or actual performance;

 

	
  

	
(ii)

	
actual results with respect to Total Gross Originations and Incremental CTIMCO Revenue shall be annualized for the purposes of calculating each of those Performance Measures; and

 

	
  

	
(iii)

	
Total Shareholder Return (i.e., per share appreciation measured from the start of the performance period) shall be based on a valuation of the Company as of the date of consummation of the Strategic Transaction as conducted by the Special Committee and management, in good faith and without discount, and after taking into account any consideration paid or payable in connection with such Strategic Transaction.

 

_________________

 

	
[***]  

	
Information has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

 

  

3

  

 

(e)           Calculation of Bonus Amount in the Event of a Qualifying Termination Prior to the Completion of Fiscal 2012.  In the event that a Qualifying Termination occurs prior to completion of Fiscal 2012, then the Participant shall be entitled to payment of a Performance Bonus, determined, without proration, with respect to each Performance Measure based on the higher of “Target” or actual performance as measured as of and through the date of termination of employment, with actual results with respect to Total Gross Originations and Incremental CTIMCO Revenue annualized for the purposes of calculating actual performance with respect to each of those Performance Measures.

 

(f)           Date of Performance Bonus Payment.  The Performance Bonus shall be paid in a lump sum in cash upon the earliest of (a) the consummation of a Strategic Transaction, (b) a Qualifying Termination and (c) January 31, 2013.

 

3.           Committee Determination. The compensation committee of the board of directors of the Company (the “Compensation Committee” shall, promptly after the date on which all necessary financial or other information for the Performance Period becomes available, confirm (a) the degree to which each of the Performance Measures has been attained and (b) the amount of the Performance Bonus payable to the Participant.

 

4.           Taxes.  Except to the extent otherwise specifically provided in an employment, consulting or other agreement between the Participant and the Company, by signing this Award Agreement, the Participant acknowledges that he shall be solely responsible for the satisfaction of any taxes that may arise pursuant to the Award (including taxes arising under Sections 409A (regarding deferred compensation) or 4999 (regarding golden parachute excise taxes)) of the Internal Revenue Code of 1986, as amended, and that the Company shall have no obligation whatsoever to pay such taxes or to otherwise indemnify or hold the Participant harmless from any or all of such taxes.  Notwithstanding the foregoing, the Company may deduct from any payable by the Company to the Participant pursuant to the Award such amount of cash as the Company may be required, under all applicable federal state, local or other laws or regulations, to withhold and pay over as income or other withholding taxes with respect to the Award.

 

5.           Restrictions on Transfer.  Neither the Award or any rights under this Award Agreement may be transferred or assigned by the Participant other than by will or the laws of descent and distribution.  Any other transfer or attempted assignment, pledge or hypothecation, whether or not by operation of law, shall be void.

 

6.           Not a Contract of Employment.  Without limiting the Participant’s rights upon a Qualified Termination, by executing this Award Agreement, the Participant acknowledges and agrees that (i) any person who is terminated before full vesting of an award, such as the one granted to the Participant by this Award Agreement, could claim that he or she was terminated to preclude vesting; (ii) the Participant promises never to make such a claim; (iii) nothing in this Award Agreement confers on the Participant any right to continue an employment, service or consulting relationship with the Company, nor shall it affect in any way the Participant’s right or the Company’s right to terminate the Participant’s employment, service, or consulting relationship at any time, with or without cause; and (iv) the Company would not have granted the Award to the Participant but for these acknowledgements and agreements.

 

  

4

  

 

7.           Severability.  Subject to last sentence of this Section 7, every provision of this Award Agreement is intended to be severable, and if any provision of this Award Agreement is held by a court of competent jurisdiction to be invalid and unenforceable, the remaining provisions shall continue to be fully effective.  Notwithstanding the foregoing, this Award Agreement shall be unenforceable if clause (iii) of the preceding Section 6 (Not a Contract of Employment) is illegal, invalid or unenforceable.

 

8.           Headings.  Section and other headings contained in this Award Agreement are for reference purposes only and are not intended to describe, interpret, define or limit the scope or intent of this Award Agreement or any provision hereof.

 

9.           Counterparts.  This Award Agreement may be executed by the parties hereto in separate counterparts, each of which when so executed and delivered shall be an original, but all such counterparts shall together constitute one and the same instrument.

 

10.           Notices.  Any notice or communication required or permitted by any provision of this Award Agreement to be given to the Participant shall be in writing and shall be delivered: (i) electronically, (ii) personally, (iii) by certified mail, return receipt requested, or (iv) by an internationally recognized overnight courier (e.g., FedEx).  In the case of delivery pursuant to clauses (i), (iii) and (iv) of the immediately preceding sentence, addressed to as follows:

 

	
  

	
(a)

	
if to the Participant, at the last address that the Company had for the Participant on its records;

 

	
  

	
(b)

	
if to the Company, to Capital Trust, Inc., 410 Park Avenue, 14th Floor, New York, NY 10022, attention: Chief Financial Officer.

 

Any such notice shall be deemed to be given as of the date such notice (i) is delivered personally, (ii) is delivered electronically (if a business day and, if not a business day, on the next business day), (iii) on the second business day following the date sent by internationally recognized overnight courier and (iv) on the fourth business day after deposited in the mail if sent by certified mail.  Each party may, from time to time, by notice to the other party hereto, specify a new address for delivery of notices relating to this Award Agreement.

 

11.           Binding Effect.  Except as otherwise provided in this Award Agreement, every covenant, term, and provision of this Award Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective heirs, legatees, legal representatives, successors, permitted transferees, and permitted assigns.

 

12.           Modifications.  This Award Agreement may be modified or amended at any time provided that the Participant must consent in writing to any modification that adversely and materially affects any rights or obligations under this Award Agreement.

 

13.           Governing Law.  The laws of the State of New York shall govern the validity of this Award Agreement, the construction of its terms, and the interpretation of the rights and duties of the parties hereto.

 

14.           Designation of Beneficiary.  Notwithstanding anything to the contrary contained herein, following the execution of this Award Agreement, you may expressly designate a death beneficiary (the “Beneficiary”) to your interest, if any, in this Award.  You shall designate the Beneficiary by completing and executing a designation of beneficiary agreement substantially in the form attached hereto as Exhibit A (the “Designation of Death Beneficiary”) and delivering an executed copy of the Designation of Death Beneficiary to the Company.  To the extent you do not duly designate a beneficiary who survives you, your estate will automatically be your beneficiary.

 

  

5

  

 

BY THE PARTICIPANT’S SIGNATURE BELOW, along with the signature of the Company’s representative, the Participant and the Company agree that the Award is made under and governed by the terms and conditions of this Award Agreement.

	 	
CAPITAL TRUST, INC.

	 
	 	 	 	 
	 	
By: _________________________________

	 
	 	       Name:	 
	 	       Title:	 
	 	 	 	 
	 	
PARTICIPANT

	 
	 	 	 	 
	 	Signature:  	___________________________	 
	 	 	 	 
	 	
Printed Name of Participant:

	 

 

  

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EXHIBIT A

 

CAPITAL TRUST, INC.

________________________________

 

Performance-Based Annual Cash Bonus Award Agreement

_________________________________

 

In connection with the Awards designated below that I have received pursuant to the Capital Trust, Inc. Performance-Based Annual Cash Bonus Award Agreement, I hereby designate the person specified below as the beneficiary upon my death of my interest in such Awards.  This designation shall remain in effect until revoked in writing by me.

 

	Name of Beneficiary:  	________________________________________
	 	 
	Address:    	________________________________________ 
	 	________________________________________
	 	________________________________________
	 	 
	Social Security No.:   	________________________________________ 

 

This beneficiary designation relates to any and all of my rights under the following Award or Awards:

 

o      any Award that I have received or ever receive under the Performance-Based Annual Cash Bonus Award Agreement.

 

o      the _________________ Award that I received pursuant to an award agreement dated _________ __, ____ between myself and the Company.

 

I understand that this designation operates to entitle the above named beneficiary, in the event of my death, to any and all of my rights under the Award(s) designated above from the date this form is delivered to the Company until such date as this designation is revoked in writing by me, including by delivery to the Company of a written designation of beneficiary executed by me on a later date.

 

	 	Date: _______________________________
	 	 
	 	By: ________________________________
	 	
       Name of Participant

 

Sworn to before me this

____day of ____________, 20__

___________________________

Notary Public

County of _________________

State of _________________

 

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