Document:

Form of restricted share unit award agreement

 Exhibit 10.28 
 GREAT AMERICAN GROUP, INC. 
 AMENDED AND RESTATED 2009 STOCK INCENTIVE PLAN 
  
  
 Restricted Share Unit Award Agreement 
  
  
 You are hereby awarded
Restricted Share Units (the “RSUs”) subject to the terms and conditions set forth in this Restricted Share Unit Award Agreement (the “Award Agreement” or “Award”), and in the Great American Group, Inc.
Amended and Restated 2009 Stock Incentive Plan (the “Plan”). A copy of the Plan is attached as Exhibit A. You should carefully review the Plan and consult with your personal legal counsel and financial advisor, in order to
fully understand the implications of this Award, including your tax alternatives and their consequences. This Award is conditioned on your execution of this Award Agreement (and its return to the Company) within 30 days after the “Award
Date” specified in Section 1 below. 
 By executing this Award Agreement, you agree to be bound by all of the Plan’s terms and
conditions as if they had been set out verbatim below. In addition, you recognize and agree that all determinations, interpretations, or other actions respecting the Plan and this Award Agreement will be made by the Company’s Board of Directors
(the “Board”) or a committee appointed by the Board to administer the Plan, and shall (unless arbitrary and capricious) be final, conclusive and binding on all parties, including you, your heirs and representatives. Capitalized
terms are defined in the Plan or in this Award Agreement. 
  

	1.	Specific Terms. Your RSUs have the following terms: 

  

			
	Name of Participant    	 	 
	Number of RSUs Subject to Award	 	 
	Purchase Price per Share (if applicable)	 	Not applicable.
	Award Date	 	 
	 Vesting Commencement
 Date
	 	 
	Vesting	 	Your Award will vest on the one year anniversary of the Vesting Commencement Date; subject to
acceleration as provided in the Plan or pursuant to Section 2 below.

 Restricted Share Unit Award Agreement 
 Great American Group, Inc. 
 2009 Stock Incentive Plan 
 Page 2 
  

	2.	Accelerated Vesting; Change in Corporate Control. To the extent you have not previously vested in your rights with respect to this Award, your Award will become 100%
vested in the event of (i) your death or “disability” within the meaning of Section 409A of the Code, or (ii) a Change in Control. 

  

	3.	Satisfaction of Vesting Restrictions. No Shares will be issued before you complete the requirements that are necessary for you to vest in the Shares underlying your
RSUs. As soon as practicable after the date on which your RSUs vest in whole or in part, the Company will issue to you or your duly-authorized transferee, free from vesting restrictions (but subject to such legends as the Company determines to be
appropriate), one Share for each vested RSU. Fractional shares will not be used, and cash will be paid in lieu thereof. 

  

	4.	Dividends. Whenever Shares are delivered to you or your duly-authorized transferee pursuant to the vesting of the Shares underlying your RSUs, you or your
duly-authorized transferee shall also be entitled to receive, with respect to each Share issued, (i) a number of Shares equal to the stock dividends which were declared and paid to the holders of Shares between the Award Date and the date such
Share is issued, and (ii) a number of Shares having a Fair Market Value (on the date of each cash dividend payment date) equal to any cash dividends that were paid to the holders of Shares based on a record date between the Award Date and the
date such Share is issued. To the extent that your Continuous Service ends before vesting of your Award, you will forfeit all dividends (whether paid in cash or in stock) attributable to all unvested RSU shares. 

  

	5.	Designation of Death Beneficiary. Notwithstanding anything to the contrary contained herein or in the Plan, following the execution of this Award Agreement, you may
expressly designate a death beneficiary (the “Beneficiary”) to your interest, if any, in this Award and any underlying Shares. You shall designate the Beneficiary by completing and executing a designation of death beneficiary
agreement substantially in the form attached hereto as Exhibit B (titled “Designation of Death Beneficiary”) and delivering an executed original copy of your executed designation form to the Company. In the absence of a valid death
beneficiary designation, your estate will be treated as your beneficiary of this Award in the event of your death while it is outstanding. 

  

	6.	Restrictions on Transfer of Award. Your rights under this Award Agreement may not be sold, pledged, or otherwise transferred without the prior written consent of the
Committee. 

  

	7.	Income Taxes and Deferred Compensation. By signing this Award, you acknowledge that you shall be solely responsible for the satisfaction of any federal, state,
province, or local taxes that may arise with respect to this Award (including, if you are subject to taxation in the United States, any taxes arising under Sections 409A or 4999 of the Code, except as specifically provided in a written agreement
with the Company). Neither the Company nor the Committee shall have any obligation whatsoever to pay such taxes, to prevent you from incurring them, or to mitigate or protect you from any such tax liabilities. 

 Restricted Share Unit Award Agreement 
 Great American Group, Inc. 
 2009 Stock Incentive Plan 
 Page 3 
  

	8.	Notices. Any notice or communication required or permitted by any provision of this Award Agreement to be given to you shall be in writing and shall be delivered
electronically, personally, or sent by certified mail, return receipt requested, addressed to you at the last address that the Company had for you on its records. 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. Any such notice shall be deemed to be given as of the date such notice is personally or electronically delivered or properly mailed. 

  

	9.	Binding Effect. Except as otherwise provided in this Award Agreement or in the Plan, 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, transferees, and assigns. 

  

	10.	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. 

  

	11.	Severability. Every provision of this Award Agreement and of the Plan is intended to be severable. If any term hereof is illegal or invalid for any reason, such
illegality or invalidity shall not affect the validity or legality of the remaining terms of this Award Agreement. 

  

	12.	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. 

  

	13.	Plan Governs. By signing this Award Agreement, you acknowledge that you have received a copy of the Plan and that your Award Agreement is subject to all the provisions
contained in the Plan, the provisions of which are made a part of this Award Agreement and your Award is subject to all interpretations, amendments, rules and regulations which from time to time may be promulgated and adopted pursuant to the Plan.
In the event of a conflict between the provisions of this Award Agreement and those of the Plan, the provisions of the Plan shall control. 

  

	14.	Not a Contract of Employment. By executing this Award Agreement you acknowledge and agree that (i) any person who is terminated before full vesting of an award,
such as the one granted to you by this Award, could claim that he or she was terminated to preclude vesting; (ii) you promise never to make such a claim; (iii) nothing in this Award Agreement or the Plan confers on you any right to
continue an employment, service or consulting relationship with the Company, nor shall it affect in any way your right or the rights of the Company’s right, to terminate your employment, service, or consulting relationship at any time, with or
without Cause; and (iv) the Company would not have granted this Award to you but for these acknowledgements and agreements. 

  

	15.	Investment Purposes. By executing this Award, you represent and warrant to the Company that any Shares issued to you pursuant to your RSUs will be held for investment
purposes only for your own account and not with a view to, for resale in connection with, or with an intent of participating directly or indirectly in, any distribution of such Shares within the meaning of the Securities Act of 1933, as amended.

 Restricted Share Unit Award Agreement 
 Great American Group, Inc. 
 2009 Stock Incentive Plan 
 Page 4 
  

	16.	Securities Law Restrictions. Regardless of whether the offering and sale of RSUs or Shares under the Plan have been registered under the Securities Act of 1933, as
amended (the “Securities Act”), or have been registered or qualified under the securities laws of any state, the Company at its discretion may impose restrictions upon the sale, pledge or other transfer of such Shares (including the
placement of appropriate legends on stock certificates or the imposition of stop-transfer instructions) if, in the judgment of the Company, such restrictions are necessary or desirable in order to achieve compliance with the Securities Act or the
securities laws of any state or any other law or to enforce the intent of this Award. 

  

	17.	Governing Law. The laws of the State of Delaware 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. 

 BY YOUR SIGNATURE BELOW, along with the signature of the Company’s representative,
you and the Company agree that the RSUs are awarded under and governed by the terms and conditions of this Award Agreement and the Plan. 
  

			
	GREAT AMERICAN GROUP, INC.
		
	By:	 	 
		 	 Name:
 Title:

	
	 PARTICIPANT
  
 The undersigned Participant hereby accepts the terms of this Award Agreement and the Plan.

		
	By:	 	 
	
	Name of Participant:
                                         
                     

 EXHIBIT A 
 GREAT AMERICAN GROUP, INC. 
 AMENDED AND RESTATED 2009 STOCK INCENTIVE PLAN 
  
  
 Plan Document 
  
  

 EXHIBIT B 
 GREAT AMERICAN GROUP, INC. 
 AMENDED AND RESTATED 2009 STOCK INCENTIVE PLAN 
  
  
 Designation of Death Beneficiary 
  
  
 In connection with the Awards
designated below that I have received pursuant to the above-referenced plan (the “Plan”), I hereby designate the person specified below as the beneficiary of my interest in Awards as defined in the Plan. This designation shall remain in
effect until revoked in writing by me. 
  

			
	Name of Beneficiary:	  	 
		
	Address:	  	 
		
		  	 
		
	Social Security No.:	  	 

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

	 	 ̈	any Award that I have received or will ever receive under the Plan. 

  

	 	 ̈	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 death 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 death beneficiary executed by me on a
later date. In the absence of a valid death beneficiary designation, my estate will be treated as the beneficiary of this Award in the event of my death while it is outstanding. 
  

			
	Date:	 	 
		
	By:	 	 
		 	Name of Participant

 Sworn to before me this 
 ____day of ____________, 20__ 
  
 Notary Public 
 County of _________________ 
 State of
__________________Specimen Common Stock Certificate

 Exhibit 4.1 
 

 
 APOLLO 
 COMMERCIAL REAL ESTATE FINANCE, INC. 
 THIS CERTIFICATE IS TRANSFERABLE
INCORPORATED UNDER THE LAWS OF THE STATE OF MARYLAND SEE REVERSE FOR IMPORTANT NOTICE ON IN SOUTH SAINT PAUL, MN. TRANSFER RESTRICTIONS AND OTHER INFORMATION 
 CUSIP 03762U 10 5 
 THIS CERTIFIES THAT 
 is the owner of 
 COUNTERSIGNED AND REGISTERED: WELLS FARGO BANK, N.A. 
 BY 
 FULLY PAID AND NON-ASSESSABLE SHARES OF COMMON STOCK, $0.01 PAR VALUE PER SHARE, OF 
 APOLLO COMMERCIAL REAL ESTATE FINANCE, INC. 
 (the “Corporation”) transferable on the books of the Corporation by the holder hereof in person or by Attorney upon surrender of this Certificate properly endorsed. This Certificate COMMON
and the shares represented hereby are issued and shall be held subject to all of the provisions of the charter of the Corporation and the Bylaws of the Corporation and any amendments thereto. This Certificate is not valid until countersigned and
registered by the Transfer Agent and Registrar. 
 IN WITNESS WHEREOF, the said Corporation has caused this certificate to be
signed by facsimile signatures of its duly authorized officers. 
 Dated: 
 CHIEF FINANCIAL OFFICER, TREASURER AND SECRETARY 
 CHIEF EXECUTIVE OFFICER AND PRESIDENT 
 TRANSFER AGENT 
 AND REGISTRAR 
 AUTHORIZED SIGNATURE 
 AMERICAN FINANCIAL PRINTING INCORPORATED – MINNEAPOLIS 

 

 
 A FULL STATEMENT OF THE INFORMATION REQUIRED BY SECTION 2-211(B) OF THE CORPORATIONS AND
ASSOCIATIONS ARTICLE OF THE ANNOTATED CODE OF MARYLAND WITH RESPECT TO THE DESIGNATIONS AND ANY PREFERENCES, CONVERSION AND OTHER RIGHTS, VOTING POWERS, RESTRICTIONS, LIMITATIONS AS TO DIVIDENDS AND OTHER DISTRIBUTIONS, QUALIFICATIONS, AND TERMS AND
CONDITIONS OF REDEMPTION OF THE STOCK OF EACH CLASS WHICH THE CORPORATION HAS AUTHORITY TO ISSUE AND (I) THE DIFFERENCES IN THE RELATIVE RIGHTS AND PREFERENCES BETWEEN THE SHARES OF EACH SERIES TO THE EXTENT SET AND (II) THE AUTHORITY OF THE BOARD
OF DIRECTORS TO SET THE RELATIVE RIGHTS AND PREFERENCES OF SUBSEQUENT SERIES. THE FOREGOING SUMMARY DOES NOT PURPORT TO BE COMPLETE AND IS SUBJECT TO AND QUALIFIED IN ITS ENTIRETY BY REFERENCE TO THE CHARTER OF THE CORPORATION, A COPY OF WHICH WILL
BE SENT WITHOUT CHARGE TO EACH STOCKHOLDER WHO SO REQUESTS. 
 The shares represented by this certificate are subject to
restrictions on Beneficial Ownership and Constructive Ownership and Transfer for the purpose, among others, of the Corporation’s maintenance of its qualification as a real estate investment trust under the Internal Revenue Code of 1986, as
amended (the “Code”). Subject to certain further restrictions and except as expressly provided in the Corporation’s charter, (i) no Person may Beneficially Own or Constructively Own shares of Common Stock in excess of 9.8 percent (in
value or number of shares, whichever is more restrictive) of the outstanding shares of Common Stock unless such Person is an Excepted Holder (in which case the Excepted Holder Limit shall be applicable); (ii) no Person may Beneficially Own or
Constructively Own shares of Capital Stock in excess of 9.8 percent (in value or number of shares, whichever is more restrictive) of the total outstanding shares of Capital Stock, unless such Person is an Excepted Holder (in which case the Excepted
Holder Limit shall be applicable); (iii) no Person may Beneficially Own or Constructively Own Capital Stock that would result in the Corporation being “closely held” under Section 856(h) of the Code or otherwise cause the Corporation to
fail to qualify as a REIT; and (iv) any Transfer of shares of Capital Stock that, if effective would result in the Capital Stock being Beneficially Owned by less than 100 persons (as determined under the principals of Section 856(a)(5) of the Code)
shall be void ab initio, and the intended transferee shall acquire no rights in such shares of the Capital Stock. Any Person who Beneficially Owns or Constructively Owns or attempts to Beneficially Own or Constructively Own shares of Capital Stock
which causes or will cause a Person to Beneficially Own or Constructively Own shares of Capital Stock in excess or in violation of the above limitations must immediately notify the Corporation. If any of the restrictions on transfer or ownership as
set forth in (i) through (iii) above are violated, the shares of Capital Stock in excess or in violation of the above limitations will be automatically transferred to a Trustee of a Trust for the benefit of one or more Charitable Beneficiaries. In
addition, the Corporation may redeem shares upon the terms and conditions specified by the Board of Directors in its sole discretion if the Board of Directors determines that ownership or a Transfer or other event may violate the restrictions
described above. Furthermore, upon the occurrence of certain events, attempted Transfers in violation of the restrictions described in (i) through (iii) above may be void ab initio. All capitalized terms in this legend have the meanings defined in
the charter of the Corporation, as the same may be amended from time to time, a copy of which, including the restrictions on transfer and ownership, will be furnished to each holder of Capital Stock on request and without charge. Requests for such a
copy may be directed to the Secretary of the Corporation at its principal office. 
 The following abbreviations, when used in
the inscription on the face of this certificate, shall be construed as though they were written out in full according to applicable laws or regulations: UTMA – Custodian TEN COM – as tenants in common (Cust) (Minor) TEN ENT – as
tenants by entireties under Uniform Transfers to Minors 
 JT TEN – as joint tenants with right of survivorship Act and
not as tenants in common (State) Additional abbreviations may also be used though not in above list. 
 For value received
hereby sell, assign, and transfer unto 
 PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE 
 (PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS INCLUDING ZIP CODE OF ASSIGNEE) 
 Shares of the capital stock represented by the within Certificate, and do hereby irrevocably constitute and appoint Attorney to transfer
the said stock on the books of the within-named Corporation with full power of substitution in the premises. 
 Dated X

 X 
 NOTICE: THE SIGNATURE TO THIS ASSIGNMENT MUST CORRESPOND WITH THE NAME AS WRITTEN UPON THE FACE OF THE CERTIFICATE IN EVERY PARTICULAR WITHOUT ALTERATION OR ENLARGEMENT OR ANY CHANGE WHATEVER. 
 SIGNATURE GUARANTEED 
 ALL GUARANTEES MUST BE MADE BY A FINANCIAL INSTITUTION (SUCH AS A BANK OR BROKER) WHICH IS A PARTICIPANT IN THE SECURITIES TRANSFER AGENTS MEDALLION PROGRAM (“STAMP”), THE NEW YORK STOCK EXCHANGE, INC. MEDALLION SIGNATURE
PROGRAM (“MSP”), OR THE STOCK EXCHANGES MEDALLION PROGRAM (“SEMP”) AND MUST NOT BE DATED. GUARANTEES BY A NOTARY PUBLIC ARE NOT ACCEPTABLE.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00163-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00163-of-00352.parquet"}]]