Document:

bmmj_ex41.htm

EXHIBIT 4.1
   
  
  
  
 DEPLOY TECHNOLOGIES INC.
  
 2012 INCENTIVE STOCK OPTION PLAN
  
 PART 1
INTERPRETATION
  
  	 1.1 
	 Definitions. In this Plan, the following words and phrases shall have the following meanings:

   
  	  
	 (a) 
	 “Affiliate” means a company that is a parent or subsidiary of the Company, or that is controlled by the same person as the Company;

	  
	  
	  

	  
	 (b) 
	 “Board” means the board of directors of the Company and includes any committee of directors appointed by the directors as contemplated by Section 3.1;

	  
	  
	  

	  
	 (c) 
	 “Change of Control” means the acquisition by any person or by any person and a Joint Actor, whether directly or indirectly, of voting securities of the Company, which, when added to all other voting securities of the Company at the time held by such person or by such person and a Joint Actor, totals for the first time not less than 50% of the outstanding voting securities of the Company or the votes attached to those securities are sufficient, if exercised, to elect a majority of the Board;

	  
	  
	  

	  
	 (d) 
	 “Company” means Deploy Technologies Inc.;

	  
	  
	  

	  
	 (e) 
	 “Consultant” means an individual or Consultant Company, other than an Employee or Director, that:

  
  	  
	 (i) 
	is engaged to provide on an ongoing bona fide basis, consulting, technical, management or other services to the Company or to an Affiliate, other than services provided in relation to a distribution of securities;
	  
	  
	  

	  
	 (ii) 
	provides such services under a written contract between the Company or an Affiliate;
	  
	  
	  

	  
	 (iii) 
	in the reasonable opinion of the Company, spends or will spend a significant amount of time and attention on the affairs and business of the Company or an Affiliate; and
	  
	  
	  

	  
	 (iv) 
	has a relationship with the Company or an Affiliate that enables the individual to be knowledgeable about the business and affairs of the Company;

  
  	 
	- 2 -
	  

	 

   
  	  
	 (f) 
	“Consultant Company” means for an individual consultant, a company or partnership of which the individual is an employee, shareholder or partner;
	  
	  
	  

	  
	 (g) 
	“Director” means any director of the Company or any of its subsidiaries;
	  
	  
	  

	  
	 (h) 
	“Eligible Person” means a bona fide Employee, Consultant, Director or Officer, or a corporation wholly owned by such Employee, Consultant, Director or Officer;
	  
	  
	  

	  
	 (i) 
	“Employee” means:

   
  	  
	 (i) 
	 an individual who is considered an employee of the Company or a subsidiary of the Company under the Income Tax Act (and for whom income tax, employment insurance and CPP deductions must be made at source);

	  
	  
	  

	  
	 (ii) 
	 an individual who works full-time for the Company or a subsidiary of the Company providing services normally provided by an employee and who is subject to the same control and direction by the Company over the details and methods of work as an employee of the Company, but for whom income tax deductions are not made at source; or

	  
	  
	  

	  
	 (iii) 
	 an individual who works for the Company or a subsidiary of the Company on a continuing and regular basis for a minimum amount of time per week providing services normally provided by an employee and who is subject to the same control and direction by the Company over the details and methods of work as an employee of the Company, but for whom income tax deductions need not be made at source;

   
  	  
	 (j) 
	“Exchange” means the Canadian National Stock Exchange and any other stock exchange on which the Shares are listed for trading;
	  
	  
	  

	  
	 (k) 
	 “Exchange Policies” means the policies, bylaws, rules and regulations of the Exchange governing the granting of options by the Company, as amended from time to time;

	  
	  
	  

	  
	 (l) 
	“Expiry Date” means a date not later than ten years from the date of grant of an option;
	  
	  
	  

	  
	 (m) 
	“Income Tax Act” means the Income Tax Act (Canada), as amended from time to time;
	  
	  
	  

	  
	 (n) 
	“Insider” has the meaning ascribed thereto in the Securities Act;
	  
	  
	  

	  
	 (o) 
	 “Investor Relations Activities” means any activities, by or on behalf of the Company or a shareholder of the Company, that promote or reasonably could be expected to promote the purchase or sale of securities of the Company, but does not include:

   
  	  
	 (i) 
	 the dissemination of information provided, or records prepared, in the ordinary course of business of the Company

   
  	  
	 (A) 
	to promote the sale of products or services of the Company, or
	  
	  
	  

	  
	 (B) 
	 to raise public awareness of the Company, that cannot reasonably be considered to promote the purchase or sale of securities of the Company;

  
  	 
	- 3 -
	  

	 

  
  	  
	 (ii) 
	activities or communications necessary to comply with the requirements of

   
  	  
	 (A) 
	applicable Securities Laws,
	  
	  
	  

	  
	 (B) 
	the Exchange, or 
	  
	  
	  

	  
	 (C) 
	 the bylaws, rules or other regulatory instruments of any self-regulatory body or exchange having jurisdiction over the Company;

   
  	  
	 (iii) 
	 communications by a publisher of, or writer for, a newspaper, magazine or business or financial publication, that is of general and regular paid circulation, distributed only to subscribers to it for value or to purchasers of it, if

   
  	  
	 (A) 
	the communication is only through such newspaper, magazine or publication, and
	  
	  
	  

	  
	 (B) 
	the publisher or writer receives no commission or other consideration other than for acting in the capacity of publisher or writer; or

   
  	  
	 (iv) 
	activities or communications that may be otherwise specified by the Exchange;

   
  	  
	 (p) 
	 “Joint Actor” means a person acting jointly or in concert with another person;

	  
	  
	  

	  
	 (q) 
	 “Optionee” means the recipient of an option under this Plan;

	  
	  
	  

	  
	 (r) 
	 “Officer” means any senior officer of the Company or any of its subsidiaries;

	  
	  
	  

	  
	 (s) 
	 “Plan” means this incentive stock option plan, as amended from time to time;

	  
	  
	  

	  
	 (t) 
	 “Securities Act” means the Securities Act (British Columbia), as amended from time to time;

	  
	  
	  

	  
	 (u) 
	 “Securities Laws” means the acts, policies, bylaws, rules and regulations of the securities commissions governing the granting of options by the Company, as amended from time to time;

	  
	  
	  

	  
	 (v) 
	 “Shares” means the shares of common stock of the Company, par value US$0.0001 per share.

  
  	 1.2 
	 Governing Law. The validity and construction of this Plan shall be governed by and construed in accordance with the laws of the Province of British Columbia and the federal laws of Canada applicable therein.

	  
	  

	 1.3 
	 Gender. Throughout this Plan, whenever the singular or masculine or neuter is used, the same shall be construed as meaning the plural or feminine or body politic or corporate, and vice-versa as the context or reference may require.

  
  	 
	- 4 -
	  

	 

  
 PART 2
PURPOSE
  
  	 2.1 
	 Purpose. The purpose of this Plan is to attract and retain Employees, Consultants, Officers and Directors and to motivate them to advance the interests of the Company by affording them with the opportunity to acquire an equity interest in the Company through options granted under this Plan to purchase Shares.

   
 PART 3
GRANTING OF OPTIONS
  
  	 3.1 
	 Administration. This Plan shall be administered by the Board or, if the Board so elects, by a committee (which may consist of only one person) appointed by the Board from its members.

	  
	  

	 3.2 
	 Committee's Recommendations. The Board may accept all or any part of any recommendations of any committee appointed under Section 3.1 or may refer all or any part thereof back to such committee for further consideration and recommendation.

	  
	  

	 3.3 
	 Board Authority. Subject to the limitations of this Plan, the Board shall have the authority to:

   
  	  
	 (a) 
	grant options to purchase Shares to Eligible Persons;
	  
	  
	  

	  
	 (b) 
	determine the terms, limitations, restrictions and conditions respecting such grants;
	  
	  
	  

	  
	 (c) 
	interpret this Plan and adopt, amend and rescind such administrative guidelines and other rules and regulations relating to this Plan as it shall from time to time deem advisable; and
	  
	  
	  

	  
	 (d) 
	make all other determinations and take all other actions in connection with the implementation and administration of this Plan including, without limitation, for the purpose of ensuring compliance with Section 7.1, as it may deem necessary or advisable.

   
  	 3.4 
	 Grant of Option. A resolution of the Board shall specify the number of Shares that shall be placed under option to each Eligible Person; the exercise price to be paid for such Shares upon the exercise of such option; any applicable hold period; and the period, including any applicable vesting periods required by Exchange Policies or by the Board, during which such option may be exercised.

	  
	  

	 3.5 
	 Written Agreement. Every option granted under this Plan shall be evidenced by a written agreement between the Company and the Optionee substantially in the form attached hereto as Schedule “A”, containing such terms and conditions as are required by Exchange Policies and applicable Securities Laws, and, where not expressly set out in the agreement, the provisions of such agreement shall conform to and be governed by this Plan. In the event of any inconsistency between the terms of the agreement and this Plan, the terms of this Plan shall govern.

  
  	 
	- 5 -
	  

	 

 
  	 3.6 
	 Withholding Taxes. If the Company is required under the Income Tax Act or any other applicable law to make source deductions in respect of Employee stock option benefits and to remit to the applicable governmental authority an amount on account of tax on the value of the taxable benefit associated with the issuance of any Shares upon the exercise of options, then any Optionee who is deemed an Employee shall:

   
  	  
	 (a) 
	 pay to the Company, in addition to the exercise price for such options, the amount necessary to satisfy the required tax remittance as is reasonably determined by the Company;

	  
	  
	  

	  
	 (b) 
	 authorize the Company, on behalf of the Optionee, to sell in the market on such terms and at such time or times as the Company determines a portion of the Shares issued upon the exercise of such options to realize proceeds to be used to satisfy the required tax remittance; or,

	  
	  
	  

	  
	 (c) 
	 make other arrangements acceptable to the Company to satisfy the required tax remittance.

   
 PART 4
RESERVE OF SHARES
  
  	 4.1 
	 Sufficient Authorized Shares to be Reserved. A sufficient number of Shares shall be reserved by the Board to permit the exercise of any options granted under this Plan. Shares that were the subject of any option that has lapsed or terminated shall thereupon no longer be in reserve and may once again be subject to an option granted under this Plan.

	  
	  

	 4.2 
	 Maximum Number of Shares Reserved. Unless authorized by the shareholders of the Company, this Plan, together with all of the Company's other previously established or proposed stock options, stock option plans, employee stock purchase plans or any other compensation or incentive mechanisms involving the issuance or potential issuance of Shares, shall not result, at any time, in the number of Shares reserved for issuance pursuant to options exceeding 10% of the issued and outstanding Shares as at the date of grant of any option under this Plan.

	  
	  

	 4.3 
	 Limits with Respect to Individuals. The aggregate number of Shares subject to an option that may be granted to any one individual in any 12 month period under this Plan shall not exceed 5% of the issued and outstanding Shares determined at the time of such grant.

	  
	  

	 4.4 
	 Limits with Respect to Consultants. The aggregate number of Shares subject to an option that may be granted to any one Consultant in any 12 month period under this Plan shall not exceed 2% of the issued and outstanding Shares determined at the time of such grant.

	  
	  

	 4.5 
	 Limits with Respect to Investor Relations Activities. The aggregate number of Shares subject to an option that may be granted to any one person conducting Investor Relations Activities in any 12 month period under this Plan shall not exceed 2% of the issued and outstanding Shares determined at the time of such grant.

  
  	 
	- 6 -
	  

	 

  
 PART 5
CONDITIONS GOVERNING THE GRANTING AND EXERCISING OF OPTIONS
  
  	 5.1 
	 Exercise Price. Subject to a minimum price of $0.10 per Share and Section 5.2, the exercise price of an option may not be less than the closing market price of the Shares on the trading day immediately preceding the date of grant of the option, less any applicable discount allowed by the Exchange.

	  
	  

	 5.2 
	 Exercise Price if Distribution. If any options are granted within 90 days of a public distribution by prospectus, then the minimum exercise price shall be the greater of that specified in Section 5.1 and the price per share paid by the investors for Shares acquired under the public distribution. The 90 day period shall commence on the date the Company is issued a final receipt for the prospectus.

	  
	  

	 5.3 
	Expiry Date. Each option shall, unless sooner terminated, expire on a date to be determined by the Board which shall not be later than the Expiry Date.
	  
	  

	 5.4 
	 Different Exercise Periods, Prices and Number. The Board may, in its absolute discretion, upon granting an option under this Plan and subject to the provisions of Section 6.3, specify a particular time period or periods following the date of granting such option during which the Optionee may exercise his option to purchase Shares and may designate the exercise price and the number of Shares in respect of which such Optionee may exercise his option during each such time period.

	  
	  

	 5.5 
	 Termination of Employment. If a Director, Officer, Consultant or Employee ceases to be so engaged by the Company for any reason other than death, such Director, Officer, Consultant or Employee shall have the right to exercise any vested option not exercised prior to such termination within a period of 90 days after the date of termination, or such shorter period as may be set out in the Optionee's written agreement.

	  
	  

	 5.6 
	 Termination of Investor Relations Activities. If an Optionee who is engaged in Investor Relations Activities ceases to be so engaged by the Company, such Optionee shall have the right to exercise any vested option not exercised prior to such termination within a period of 30 days after the date of termination, or such shorter period as may be set out in the Optionee's written agreement.

	  
	  

	 5.7 
	 Death of Optionee. If an Optionee dies prior to the expiry of his option, his heirs or administrators may within 12 months from the date of the Optionee's death exercise that portion of an option granted to the Optionee under this Plan which remains vested and outstanding.

	  
	  

	 5.8 
	 Assignment. No option granted under this Plan or any right thereunder or in respect thereof shall be transferable or assignable otherwise than as provided for in Section 5.7.

	  
	  

	 5.9 
	 Notice. Options shall be exercised only in accordance with the terms and conditions of the written agreements under which they are respectively granted and shall be exercisable only by notice in writing to the Company substantially in the form attached hereto as Schedule “B”.

	  
	  

	 5.10 
	 Payment. Options may be exercised in whole or in part at any time prior to their lapse or termination. Shares purchased by an Optionee upon the exercise of an option shall be paid for in full in cash at the time of their purchase.

   
  	 
	- 7 -
	  

	 

  
 PART 6
CHANGES IN OPTIONS
  
  	 6.1 
	 Share Consolidation or Subdivision. In the event that the Shares are at any time subdivided or consolidated, the number of Shares reserved for option and the price payable for any Shares that are then subject to option shall be adjusted accordingly.

	  
	  

	 6.2 
	 Stock Dividend. In the event that the Shares are at any time changed as a result of the declaration of a stock dividend thereon, the number of Shares reserved for option and the price payable for any Shares that are then subject to option may be adjusted by the Board to such extent as it deems proper in its absolute discretion.

	  
	  

	 6.3 
	 Effect of a Take-Over Bid. If a bona fide offer to purchase Shares (an “Offer”) is made to an Optionee or to shareholders of the Company generally or to a class of shareholders which includes the Optionee, which Offer, if accepted in whole or in part, would result in the offeror becoming a control person of the Company, within the meaning of Section 1(1) of the Securities Act, the Company shall, upon receipt of notice of the Offer, notify each Optionee of full particulars of the Offer, whereupon all Shares subject to option (the “Option Shares”) shall become vested and such option may be exercised in whole or in part by such Optionee so as to permit the Optionee to tender the Option Shares received upon such exercise pursuant to the Offer. However, if:

   
  	  
	 (a) 
	the Offer is not completed within the time specified therein including any extensions thereof; or
	  
	  
	  

	  
	 (b) 
	 all of the Option Shares tendered by the Optionee pursuant to the Offer are not taken up or paid for by the offeror in respect thereof,

	  
	  
	  

	  
	 then the Option Shares received upon such exercise, or in the case of clause (b) above, the Option Shares that are not taken up and paid for, may be returned by the Optionee to the Company and reinstated as authorized but unissued Shares and with respect to such returned Option Shares, the option shall be reinstated as if it had not been exercised and the terms upon which such Option Shares were to become vested pursuant to Section 3.4 shall be reinstated.  If any Option Shares are returned to the Company under this Section 6.3, the Company shall immediately refund the exercise price to the Optionee for such Option Shares.

    
  	 6.4 
	 Acceleration of Expiry Date. If, at any time when an option granted under this Plan remains unexercised with respect to any unissued Option Shares, an Offer is made by an offeror, the Board may, upon notifying each Optionee of full particulars of the Offer, declare all Option Shares issuable upon the exercise of options granted under this Plan vested, and declare that the Expiry Date for the exercise of all unexercised options granted under this Plan is accelerated so that all options shall either be exercised or shall expire prior to the date upon which Shares must be tendered pursuant to the Offer.

	  
	  

	 6.5 
	 Effect of a Change of Control. If a Change of Control occurs, all outstanding options shall become vested, whereupon such options may be exercised in whole or in part by the Optionee.

  
  	 
	- 8 -
	  

	 

 
 PART 7
SECURITIES LAWS AND EXCHANGE POLICIES
  
  	 7.1 
	 Securities Laws and Exchange Policies Apply. This Plan and the granting and exercise of any options hereunder are also subject to such other terms and conditions as are set out from time to time in applicable Securities Laws and Exchange Policies and such terms and conditions shall be deemed to be incorporated into and become a part of this Plan. In the event of an inconsistency between such terms and conditions and this Plan, such terms and conditions shall govern. In the event that the Shares are listed on a new stock exchange, in addition to the terms and conditions set out from time to time in applicable Securities Laws, the granting or cancellation of options shall be governed by the terms and conditions set out from time to time in the policies, bylaws, rules and regulations of the new stock exchange and unless inconsistent with the terms of this Plan, the Company shall be able to grant or cancel options pursuant to the policies, bylaws, rules and regulations of such new stock exchange without requiring shareholder approval.

   
 PART 8
AMENDMENT
  
  	 8.1 
	 Board May Amend. The Board may, by resolution, amend or terminate this Plan, but no such amendment or termination shall, except with the written consent of the Optionees concerned, affect the terms and conditions of options previously granted under this Plan which have not then lapsed, terminated or been exercised.

	  
	  

	 8.2 
	 Exchange Approval. Any amendment to this Plan or options granted pursuant to this Plan shall not become effective until such Exchange and shareholder approval as is required by Exchange Policies and Securities Laws has been received.

	  
	  

	 8.3 
	 Amendment to Insider's Options. Any amendment to options held by Insiders which results in a reduction in the exercise price of the options at the time of the amendment is conditional upon obtaining disinterested shareholder approval to that amendment.

   
 PART 9
EFFECT OF PLAN ON OTHER COMPENSATION OPTIONS
  
  	 9.1 
	 Other Options Not Affected. This Plan is in addition to any other existing stock options granted prior to and outstanding as at the date of this Plan and shall not in any way affect the policies or decisions of the Board in relation to the remuneration of Directors, Officers, Consultants and Employees.

   
 PART 10
OPTIONEE'S RIGHTS AS A SHAREHOLDER
  
  	 10.1 
	 No Rights Until Option Exercised. An Optionee shall be entitled to the rights pertaining to share ownership, such as to dividends, only with respect to Shares that have been fully paid for and issued to the Optionee upon the exercise of an option.

    
 PART 11
EFFECTIVE DATE OF PLAN
  
  	 11.1 
	 Effective Date. This Plan shall become effective upon the approval of the Plan by the Board. 

    

  	 
	- 9 -
	 
 
	 

  
 SCHEDULE “A”
 
   
  
 DEPLOY TECHNOLOGIES INC.
  
 INCENTIVE STOCK OPTION AGREEMENT
  
 THIS INCENTIVE STOCK OPTION AGREEMENT is dated as of ____________________, 20____ between Deploy Technologies Inc. (the “Company”) and ____________________ (the “Optionee”).
  
 WHEREAS:
  
  	 A. 
	 In order to attract and retain employees, consultants, officers and directors of the Company and to motivate them to advance the interests of the Company, the Company has created an incentive stock option plan (the “Plan”); and

	  
	  

	 B. 
	The Company has agreed to issue an option under the Plan to the Optionee.

   
 In consideration of the foregoing and the mutual agreements contained herein (the receipt and sufficiency of which are hereby acknowledged), the parties agree as follows:
  
  	 1. 
	 Grant of Option. Pursuant to the Plan, the Company hereby grants to the Optionee and the Optionee hereby accepts the grant of an option (the “Option”) to purchase __________ shares of the common stock of the Company, par value US$0.0001 per share (the “Shares”) at an exercise price of $__________ per Share upon the following terms and conditions.

	  
	  

	 2. 
	 Vesting. The Option shall vest [immediately, or in accordance with a resolution of the Board as follows:]

  
  	  
 Period
	  
 % of Shares Vested

	  
	  

	  
	  

	  
	  

	  
	  

	  
	  

  
  	 
	- 10 -
	  

	 

  
  	 3. 
	 Expiry. The Option shall expire ____ years after the date of the grant.

	  
	  

	 4. 
	 Subject To Terms. The Optionee acknowledges that the Option is subject to:

  
  	  
	 (a) 
	the Plan;
	  
	  
	  

	  
	 (b) 
	the regulations and provisions of the British Columbia Securities Commission and the Ontario Securities Commission, where relevant; and
	  
	  
	  

	  
	 (c) 
	the approval of the Canadian National Stock Exchange (the “CNSX”) or other stock exchange, as applicable.

  
  	 5. 
	 Approval and Cancellation. In the event that approval from the CNSX, or other stock exchange, as applicable, is not received, the Optionee agrees that the Company may immediately cancel any or all of the Option that remains outstanding. If the Company cancels any of the Option pursuant to this section, then no compensation shall be owed by the Company to the Optionee. 

	  
	  

	 6. 
	 Other Stock Exchange Listing. In the event that the Company applies or intends to apply for listing on a stock exchange other than the CNSX and, based on the policies and requirements of the other stock exchange, the Company believes that any or all of the Option will not be accepted or approved by the other stock exchange, then the Company may immediately cancel any or all of the Option that remains outstanding as necessary, in the Company’s sole determination, to meet the listing requirements of the other stock exchange. If the Company cancels any of the Option pursuant to this section, then no compensation will be owed by the Company to the Optionee.

  
 IN WITNESS WHEREOF, the Company and Optionee have caused this Agreement to be duly executed as of the date first written above.
  
 DEPLOY TECHNOLOGIES INC.
  
 Per:
  
                                                             
Authorized Signatory
  
 OPTIONEE
  
  
                                                             
  
  	 
	- 11 -
	  

	 

 
 SCHEDULE “B”
  
  
 DEPLOY TECHNOLOGIES INC.
  
 EXERCISE NOTICE
  
 The undersigned hereby subscribes for __________ shares of the common stock of Deploy Technologies Inc. (the “Company”) at a price of $______ per share, pursuant to the provisions of the Incentive Stock Option Agreement entered into between the undersigned and the Company dated ____________________, 20____.
  
  
 Dated this ____ day of _______________, 20____.
  
                                                             
Signature
  
                                                             
Name (please print)
  
                                                             
Address
  
  
  	 - 12 -EX-10.1

 Exhibit 10.1 
  

			
	 American Tower
Corporation 

 Notice of Grant of Performance-Based

Restricted Stock Units and PSU Agreement
 (U.S. Employee
/ Time) ([Position])
	  	American Tower Corporation 
ID: 65-0723837 
116
Huntington Ave 
Boston, MA 02116
	 	 
	Administrator 
116 Huntington Avenue 11th Floor 
Boston MA United States 02116	  	Participant Name: 
PSU Number: 
Plan: 
ID:

 American Tower Corporation, a Delaware corporation (the “Company”), hereby grants to the Participant named above
(“you”) an award of performance-based restricted stock units (the “PSUs”) representing the right to receive a number of shares of Common Stock, par value $0.01 per share (the “Stock”) of the Company equal to, higher
than or lower than (including zero) the number of PSUs subject to your Target Award (as set forth below) on the terms of this Notice of Grant of Performance-Based Restricted Stock Units and PSU Agreement (this “Agreement”), subject to your
acceptance of this Agreement and the provisions of the American Tower Corporation 2007 Equity Incentive Plan, as amended from time to time (the “Plan”). 
  

					
		 	Date of Grant:	  	                    , 20        
			
		 	Performance Period:	  	January 1, 20         to December 31, 20        
			
		 	Target Award:	  	
			
		 	Scheduled Vesting Date	  	

 A number of PSUs (which number could be zero) will vest and any underlying shares will become issuable on the third
anniversary of the Date of Grant (the “Scheduled Vesting Date”), subject to the terms of this Agreement, including but not limited to Appendix A, and the terms of the Plan. 

 

			
	                                      
                                         
 	  	                                      
                                         
 
	American Tower Corporation	  	Date
	
	By your signature below, you agree with the Company to the terms of this Agreement.
		
	                                      
                                         
 	  	                                      
                                         
 
	Participant	  	Date

 ******************** 

Alternative (for electronic award administration): 

Participant’s Online Acceptance is required through E*TRADE 

I understand that I must accept this grant online through my E*TRADE account. By doing so I acknowledge that I agree with the Company to the terms of this
Agreement, and I intend that by clicking the “Accept” button for this grant package to have the same force in all respects as my handwritten signature. 

  
 2 

 Terms of Performance-Based Restricted Stock Units 

1.    Plan Incorporated by Reference. The provisions of the Plan are incorporated into and made a part of this
Agreement by this reference. Capitalized terms used and not otherwise defined in this Agreement have the meanings given to them in the Plan. The Committee administers the Plan, and its determinations regarding the interpretation and operation of the
Plan and this Agreement are final and binding. The Board may in its sole discretion at any time terminate or from time to time modify and amend the Plan as provided therein. You may obtain a copy of the Plan without charge upon request to the
Company’s Human Resources Department. 
 2.    Grant of Award. The Company has granted to you a Target Award
of PSUs, subject to the terms of this Agreement, including but not limited to Appendix A, and the terms of the Plan. Each PSU represents the right to receive one share of Common Stock upon vesting and settlement in accordance with the terms
of this Agreement. 
 3.    Vesting of PSUs. (i) Subject to Section 6 and the other terms hereof, and
provided you are employed by the Company or any of its Affiliates on the Scheduled Vesting Date, the number of PSUs which will vest on the Scheduled Vesting Date will be determined based on the Company’s achievement of Threshold, Target or
Maximum levels (“Performance Goals”) of Adjusted Funds From Operations per share (“AFFO per Share”) and Return on Invested Capital (“ROIC”), each as defined by the Committee on the Date of Grant (collectively, the
“Metrics”), in respect of the Performance Period and the weighting given to each Metric as set forth in Appendix A hereto. The Committee will determine the level of the Company’s achievement against the Performance Goals at a
reasonably practicable time following the end of the Performance Period but in no case later than the Scheduled Vesting Date. For each Metric, should the Company fail to achieve at least Threshold, zero percent (0%) of the applicable portion of the
Target Award shall vest. For each Metric, should the Company achieve: (x) Threshold, fifty percent (50%) of the applicable portion of the Target Award shall vest, (y) Target, one hundred percent (100%) of the applicable portion of the
Target Award shall vest, and (z) Maximum (or greater), two hundred percent (200%) of the applicable portion of the Target Award shall vest. For each Metric, should the Company achieve a performance level that falls between the Performance
Goals, the applicable portion of the Target Award that shall vest will be determined using straight-line interpolation. Any PSUs that are determined not to vest on the Scheduled Vesting Date will be forfeited and canceled for no value. 

(ii) Notwithstanding Section 3(i), in the event of a Change of Control (as defined below) during the Performance Period, the number of
PSUs that will be eligible to vest on the Scheduled Vesting Date pursuant to the terms of this Agreement will be equal to the Target Award. 

  
 3 

 4.    Settlement of Vested PSUs. Subject to Sections 6 and
7, within sixty (60) days after the Scheduled Vesting Date, the Company will deliver to you or your legal representative the number of shares of Stock underlying your vested PSUs. 

5.    Dividend Equivalents. At the time the Company delivers shares of Stock in respect of your vested PSUs under
Section 4 or Section 6, as applicable, the Company will also pay you a lump sum cash amount equal to the cash dividends you would have received had you held such number of shares of Stock from the Date of Grant through the date of your
receipt of such shares of Stock in settlement of your vested PSUs. No interest will accrue on such dividend equivalents. No dividend equivalent amounts will be paid in respect of unvested or forfeited PSUs. 

6.    Termination of Employment; Change of Control. 

6.1. Subject to Sections 6.2 and 6.3 below, upon termination of your employment with the Company and its Affiliates for any reason prior
to the Scheduled Vesting Date, you will forfeit all of your PSUs awarded under this Agreement, together with any accrued dividend equivalents, as of the date of termination and all such PSUs and accrued dividend equivalents will be canceled for no
value. 
 6.2. (a)    Subject to Sections 7 and 8 herein, in the event of termination of your employment with the
Company and its Affiliates due to (x) Disability or (y) death (each, a “Separation Event”), if the date of termination is: 

(i)    on or within six (6) months from the Date of Grant, the number of PSUs that will vest on the Scheduled Vesting
Date shall be prorated and determined by multiplying (xx) the full number of PSUs that would have vested on the Scheduled Vesting Date, as determined pursuant to Section 3(i) or 3(ii), as applicable, of this Agreement, by (yy) a fraction,
the numerator of which is the number of complete months during the Performance Period prior to the Separation Event and the denominator of which is thirty-six (36); 

(ii)    after the date that is six (6) months from the Date of Grant, the full number of PSUs, as determined pursuant
to Section 3(i) or 3(ii), as applicable, of this Agreement, will vest on the Scheduled Vesting Date. 

(b)    Subject to Sections 7 and 8 herein, in the event of termination of your employment with the Company and its
Affiliates due to a Qualified Retirement and you deliver the written notice of your intent to retire to the chief executive officer of the Company (“CEO”) (or in the case of the CEO, notice to the Board) on a date that is: 

  
 4 

 (i)    on or within six (6) months from the Date of Grant, you
will forfeit all of your PSUs awarded under this Agreement, together with any accrued dividend equivalents, as of the date of termination and all such PSUs and accrued dividend equivalents will be canceled for no value; 

(ii)     after the date that is six (6) months from the Date of Grant and you enter into a transition plan with the
Company upon terms agreed between you and the CEO and approved by the Committee (or in the case of the CEO, between you and the Committee and approved by the Board) (“Transition Plan”) and the CEO and the Committee (or in the case of the
CEO, the Board) determine that you have successfully completed such Transition Plan, the full number of PSUs, as determined pursuant to Section 3(i) or 3(ii), as applicable, of this Agreement, will vest on the Scheduled Vesting Date; 

(iii)     after the date that is six (6) months from the Date of Grant and (x) you enter into a Transition Plan
and the CEO and the Committee (or in the case of the CEO, the Board) determine that you have not successfully completed such Transition Plan or (y) you do not enter into a Transition Plan, the number of PSUs that will vest on the Scheduled
Vesting Date shall be prorated and determined by multiplying (xx) the full number of PSUs that would have vested on the Scheduled Vesting Date, as determined pursuant to Section 3(i) or 3(ii), as applicable, of this Agreement, by (yy) a
fraction, the numerator of which is the number of complete months during the Performance Period prior to the date of termination and the denominator of which is thirty-six (36). 

(c)    The Company will deliver to you or your legal representative the number of shares of Stock underlying the PSUs
vesting under this Section 6.2 within sixty (60) days following the Scheduled Vesting Date; provided, however, if you are a “specified employee” as defined in Treasury Regulation
Section 1.409A-1(i) or any successor provision, on the date of your Qualified Retirement, then, irrespective of any other provision contained in this Agreement, any shares vesting pursuant to a Qualified
Retirement shall be delivered on the later of (I) sixty (60) days following the Scheduled Vesting Date or (II) the first day of the seventh month following the date of your (A) Qualified Retirement or, if earlier (B) the date of
your death. 
 6.3. Subject to Sections 7 and 8 herein, in the event of Qualifying Termination (including a termination by you for Good
Reason if the Good Reason condition occurs within two years following the Change of Control and the notice and remedy provisions relating to the Good Reason set forth in the Severance Plan are, or are not, as applicable, satisfied) occurring within
fourteen (14) days prior to a Change of Control or two (2) years following a Change of Control, a number of PSUs determined by multiplying (a) the Target Award by (b) a fraction, the numerator of which is the number of complete
months during the Performance Period prior to the Qualifying Termination and the denominator of which is thirty-six (36), will vest on the date 

  
 5 

 
of the Qualifying Termination. The Company will deliver to you or your legal representative the number of shares of Stock underlying such vested PSUs within sixty (60) days following the
date of the Qualifying Termination; provided, however, if you are a “specified employee” as defined in Treasury Regulation Section 1.409A-1(i) or any successor provision, on the date of your
Qualifying Termination, then, irrespective of any other provision contained in this Agreement, any shares vesting pursuant to a Qualifying Termination shall be delivered on the first day of the seventh month following the date of your
(i) Qualifying Termination or, if earlier (ii) the date of your death. 
 6.4. For purposes of this Agreement: 

 

	 	(i)	 “Change of Control” and “Qualifying Termination” shall have the meanings set forth in the
Severance Policy – Executive Vice Presidents and Chief Executive Officer under the American Tower Corporation Severance Plan, as amended from time to time (together, the “Severance Plan”). A Qualifying Termination does not include
termination of your employment if you are eligible for Qualified Retirement at the time of such termination. 

  

	 	(ii)	 “Qualified Retirement” shall mean that (a) you have a combined age and years of service with the
Company and its Affiliates of at least 65 years, provided further that you must (I) be at least 55 years old and (II) have a minimum of five years of service with the Company and its Affiliates, (b) you experience a “separation
from service” within the meaning set forth in Section 409A of the Internal Revenue Code of 1986, as amended, and the regulations promulgated thereunder, and (c) you execute a release containing
non-compete, non-solicitation and non-disparagement provisions in a form and with the content satisfactory to the Company.

  

	 	(iii)	 “Disability” shall have the meaning set forth in Section 409A of the Internal Revenue Code of
1986, as amended, and the regulations promulgated thereunder. 

 7.    Withholding Taxes. The
Company shall withhold from issuance in settlement of your vested PSUs the number of shares of Stock (valued at their Fair Market Value on such vesting date) necessary to satisfy the minimum tax withholding obligations arising from your receipt of
such shares of Stock. The cash payment of the accrued dividend equivalents is treated as taxable income and added to the value of the total PSUs. Notwithstanding the foregoing, tax withholding with respect to the issued shares of Stock and cash
payment of dividend equivalents shall be first applied against the cash payment of dividend equivalents and, accordingly, may reduce the total number of shares of Stock required to be withheld in order to satisfy the minimum withholding tax
obligation. 

  
 6 

 8.    Termination; Forfeiture. (i) Notwithstanding any other
provision of this Agreement, you shall be obligated to (a) transfer to the Company any shares of Stock previously issued upon vesting of PSUs and dividend equivalents and (b) pay to the Company all gains realized by any person from the
disposition of any such shares if: (I) your employment with the Company or any Affiliate is terminated for cause, (II) following termination of employment for any reason, either (A) the Company determines that you engaged in conduct
while an employee that would have justified termination for cause or (B) you violate any applicable confidentiality or non-competition agreement with the Company or any Affiliate, (III) at the
Committee’s discretion, in the event of a restatement of the Company’s financial statements or (IV) as otherwise required by law. Termination for cause means criminal conduct involving a felony in the U.S. or the equivalent of a
felony under the laws of other countries, material violations of civil law related to your job responsibilities, fraud, dishonesty, self-dealing, breach of your obligations regarding the Company’s intellectual property, or willful misconduct
that the Committee determines to be injurious to the Company. 
 9.    Compliance with Law; Lock-Up Agreement. The Company shall not be obligated to issue any shares of Stock upon vesting of your PSUs unless the Company is satisfied that all requirements of law or any applicable stock exchange in
connection therewith (including without limitation the effective registration or exemption of the issuance of such shares under the Securities Act of 1933, as amended, and applicable state securities laws) have been or will be complied with, and the
Committee may impose any restrictions on your rights as it shall deem necessary or advisable to comply with any such requirements; provided that the Company will issue such shares on the earliest date at which it reasonably anticipates that such
issuance will not cause such violation. You further agree hereby that, as a condition to the issuance of shares upon vesting of your PSUs, you will enter into and perform any underwriter’s lock-up
agreement requested by the Company from time to time in connection with public offerings of the Company’s securities. 

10.    Rights as PSU Holder or Stockholder. PSUs are unfunded, unsecured obligations of the Company. You shall not
have any rights under the PSUs until all conditions that are required to be met in order to issue the underlying shares of Stock have been satisfied. You shall have no rights as a stockholder with respect to any shares of Stock covered by the PSUs
until the issuance of such actual shares of Stock. 
 11.    Effect on Your Employment. Neither the adoption,
maintenance or operation of the Plan nor the award of the PSUs and the dividend equivalents with respect to your PSUs confers upon you any right to continue your employment with the Company or any Affiliate, nor shall they interfere with the rights
of the Company or any Affiliate to terminate or otherwise change the terms of such employment or service at any time, including, without limitation, the right to promote, demote or reassign you from one position to another in the Company or any
Affiliate. Unless the Committee otherwise provides in any case, your employment with an Affiliate shall 

  
 7 

 
be deemed to terminate for purposes of the Plan when such Affiliate ceases to be an Affiliate of the Company. 

12.    Nontransferability. You may not assign or transfer the PSUs or any rights with respect thereto, including
without limitation, the dividend equivalents with respect to the PSUs, except by will or by the laws of descent and distribution or to the extent expressly permitted in writing by the Committee. 

13.    Corporate Events. The terms of the PSUs and the dividend equivalents with respect to the PSUs may be changed
without your consent as provided in the Plan upon a Change of Control or certain other corporate events affecting the Company. Without limiting the foregoing, the number and kind of shares or other securities or property issuable upon settlement of
the PSUs may be changed, the PSUs may be assumed by another issuer, or the PSUs may be terminated, as the Committee may consider equitable to the participants in the Plan and in the best interests of the Company. 

14.    Governing Law. This Agreement shall be governed by and construed and enforced in accordance with the
applicable laws of the United States of America and the law (other than the law governing conflict of law questions) of the Commonwealth of Massachusetts except to the extent the laws of any other jurisdiction are mandatorily applicable. 

15.    Amendment and Termination of the PSUs. The PSUs and the dividend equivalents with respect to the PSUs
awarded hereunder may be amended or terminated by the Company with or without your consent, as permitted by the Plan. 

  
 8 

 Appendix A 

Performance Goals 
  

					
	AFFO per Share(1) (70% Weighting)	  	Cumulative Growth	 
	 Threshold (50% payout)
	  	$	             	 
	 Target (100% payout)
	  	$	             	 
	 Maximum (200% payout)
	  	$	             	 
		
	ROIC(1) (30% Weighting)	  	3 Year Average	 
	 Threshold (50% payout)
	  			
	 Target (100% payout)
	  			
	 Maximum (200% payout)
	  			

  

	(1) 	 No adjustment for acquisition or foreign currency fluctuations. 

Payout for performance between Threshold, Target and Maximum is interpolated on a straight-line basis. 

  
 9

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00307-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00307-of-00352.parquet"}]]