Document:

Exhibit 10.19

 

[Execution Copy]

 

MANAGEMENT
EQUITY AWARD AGREEMENT

(Restricted Equity Units)

 

THIS MANAGEMENT EQUITY AWARD AGREEMENT (“Agreement”) is made as of October 13, 2006 by and between
TDS Investor (Cayman) L.P., a Cayman Islands limited partnership (the “Partnership”) and the executive whose name
is set forth on the signature page hereto (“Executive”).

 

RECITALS

 

The Partnership has adopted the TDS Investor (Cayman) L.P. 2006
Interest Plan (the “Plan”), a copy
of which is attached hereto as Exhibit A.

 

In connection with Executive’s employment by the Partnership or one of
its Subsidiaries (collectively, the “Company”),
the Partnership intends concurrently herewith to grant the number of Restricted
Equity Units (as defined below) set forth on the signature page hereto.

 

NOW, THEREFORE, in consideration of the foregoing premises and the
mutual promises set forth in this Agreement, and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged,
the parties to this Agreement, intending to be legally bound, agree as follows:

 

SECTION 1

DEFINITIONS

 

1.1.                              Definitions. Capitalized terms not
otherwise defined herein shall have the meanings ascribed to them in the
Partnership Agreement. In addition to the terms defined in the Partnership
Agreement, the terms below shall have the following respective meanings:

 

“Agreement” has the
meaning specified in the Introduction.

 

“Board” means the board of
directors of the General Partner (or, if applicable, any committee of the
Board).

 

“Cause” shall have the meaning assigned
such term in any employment agreement entered into between any Company and
Executive, provided that if no such employment agreement exists or such term is
not defined, then “Cause” shall mean (A) Executive’s failure
substantially to perform Executive’s duties to the Company (other than as
a result of total or partial incapacity due to Disability) for a period of 10
days following receipt of written notice from any Company by Executive of such
failure; provided that it is understood that this clause (A) shall not
apply if a Company terminates Executive’s employment because of dissatisfaction
with actions taken by Executive in the good faith performance of Executive’s
duties to the Company, (B) theft or embezzlement of property of the
Company or dishonesty in the performance of Executive’s duties to the Company, (C) an
act or acts on Executive’s part constituting (x) a felony under the laws
of the United States or any state thereof or (y) a crime 

 

 

involving moral turpitude, (D) Executive’s
willful malfeasance or willful misconduct in connection with Executive’s duties
or any act or omission which is materially injurious to the financial condition
or business reputation of the Company or its Affiliates, or (E) Executive’s
breach of the provisions of any agreed-upon non-compete, non-solicitation or
confidentiality provisions agreed to with the Company, including pursuant to
this Agreement and pursuant to any employment agreement.

 

“Company” has the meaning
specified in the Recitals.

 

“Constructive Termination”
shall have the meaning assigned such term in any employment agreement entered
into between any Company and Executive, provided that if no such employment
agreement exists or such term is not defined, then “Constructive Termination”
means (i) any material reduction in Executive’s base salary or incentive
compensation opportunity (excluding any change in value of equity incentives or
a reduction affecting substantially all similarly situated executives) or (ii) failure
of the Company to pay compensation or benefits when due, in each case which is
not cured within 30 days following the Partnership’s receipt of written notice
from Executive describing the event constituting a Constructive Termination;
provided that any event that would otherwise constitute “Constructive
Termination” hereunder shall cease to constitute “Constructive Termination” on
the 30th day following the later of (x) the occurrence thereof
and (y) Executive’s knowledge thereof, unless Executive has given the
Partnership written notice thereof prior to such date.

 

“Disability” shall have
the meaning assigned such term in any employment agreement entered into between
any Company and Executive, provided that if no such employment agreement exists
or such term is not defined, then “Disability” shall mean Executive
shall have become physically or mentally incapacitated and is therefore unable
for a period of nine (9) consecutive months or for an aggregate of twelve
(12) months in any eighteen (18) consecutive month period to perform Executive’s
duties under Executive’s employment. Any question as to the existence of the
Disability of Executive as to which Executive and the Partnership cannot agree
shall be determined in writing by a qualified independent physician mutually
acceptable to Executive and the Partnership. If Executive and the Partnership
cannot agree as to a qualified independent physician, each shall appoint such a
physician and those two physicians shall select a third who shall make such
determination in writing. The determination of Disability made in writing to
the Partnership and Executive shall be final and conclusive for all purposes of
this Agreement and any other agreement between any Company and Executive that
incorporates the definition of “Disability”.

 

“Effective Date” means the
date hereof.

 

“Exchange Act” shall mean the Securities
Exchange Act of 1934, as amended.

 

“Executive” has the
meaning specified in the Introduction.

 

“Other Documents”  means  the
Partnership Agreement, any other management equity award agreement between
Executive and the Partnership and any employment agreement by and between
Executive and any Partnership, in each case as amended, modified, supplemented
or restated from time to time in accordance with the terms thereof.

 

2

 

“Partnership” has the
meaning specified in the Introduction.

 

“Partnership Agreement”
shall mean the Agreement of Limited Partnership, as amended, modified or
supplemented from time to time, of the Partnership.

 

“Unvested Restricted Equity Units”
means Restricted Equity Units held by Executive that are subject to any
vesting, forfeiture or similar arrangement under this Agreement.

 

“Vested Restricted Equity Units”
means Restricted Equity Units held by Executive that are no longer subject to
any vesting, forfeiture or similar arrangement under this Agreement.

 

SECTION 2

GRANT OF
RESTRICTED EQUITY UNITS

 

2.1.                              Restricted Equity Units. Subject to the
terms and conditions hereof, the Partnership hereby grants Executive the number
of Restricted Stock Units as is set forth on the signature page to this
Agreement and Executive accepts such Restricted Equity Units from the
Partnership. Each “Restricted Equity Unit”
represents the right to receive from the Partnership, on the terms and
conditions (and at the times) set forth in this Agreement (including Section 3.3),
one Class A-2 Interest with a hypothetical capital contribution equal to,
on the date hereof, $1 per Class A-2 Interest (but subject to adjustment
pursuant to Section 4.3). The terms of Class A-2 Interests are set
forth in, and governed by, the Partnership Agreement and Executive shall have
no rights in respect of such Class A-2 Interests until the Company
delivers such Class A-2 Interests pursuant to the terms hereof and
Executive becomes a Class A-2 Limited Partner pursuant to the Partnership
Agreement.

 

SECTION 3

VESTING, TRANSFER
PROHIBITED, DELIVERY AND TERMINATION

 

3.1.                              Vesting Schedule.

 

(a)                                  Immediately
upon the execution of this Agreement, 6.25% of the Restricted Equity Units
granted hereunder shall be Vested Restricted Equity Units.

 

(b)                                 Subject
to Executive’s continued employment with the Company, an additional 6.25% of
the Restricted Equity Units granted hereunder shall vest and automatically
become Vested Restricted Equity Units on each of February 2, May 2, August 2
and November 2 of each year (each date, a “Scheduled Vesting Date”), with the first Scheduled Vesting
Date occurring on November 2, 2006. Notwithstanding the foregoing in the
event that:

 

(i)                                     a
Change of Control occurs at a time when Executive is employed by the Company,
Executive shall thereupon be deemed to have vested 100% into ownership of all
Restricted Equity Units immediately prior to such Change of Control (and such
Restricted Equity Units shall automatically convert to Vested Restricted Equity
Units hereunder);

 

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(ii)                                  Executive’s
employment with the Company is terminated for any reason, except as set forth,
and to the extent provided, in Section 3.1(b)(iii)), Executive shall have
no right to further vesting of the Restricted Equity Units that are Unvested
Restricted Equity Units (and such Restricted Equity Units shall be Unvested
Restricted Equity Units notwithstanding the provisions of this Section 3.1(b));
and

 

(iii)                               Executive’s
employment with the Company is terminated (x) by the Company without Cause,
(y) as a result of death or Disability or (z) by Executive as a
result of a Constructive Termination, Executive shall thereupon be deemed to
have vested in the Restricted Equity Units that would have vested on:

 

(A)                              the
next four Scheduled Vesting Dates (and such Restricted Equity Units shall
automatically convert to Vested Restricted Equity Units hereunder) if such
termination occurs between May 3 and November 2 (inclusive);

 

(B)                                the
next three Scheduled Vesting Dates (and such Restricted Equity Units shall
automatically convert to Vested Restricted Equity Units hereunder) if such
termination occurs between November 3 and February 2 (inclusive); and

 

(C)                                the
next two Scheduled Vesting Dates (and such Restricted Equity Units shall
automatically convert to Vested Restricted Equity Units hereunder) if such
termination occurs between February 3 and May 2 (inclusive).

 

3.2.                              Transfer Prohibited. Executive may not
sell, assign, transfer, pledge or otherwise encumber (or make any other
Disposition of) any Restricted Equity Units, except upon the death of Executive.
Upon any attempted Disposition in violation of this Section 3.2, the
Restricted Equity Units shall immediately become null and void.

 

3.3.                              Delivery of Class A-2 Interests.

 

(a)                                  No
Class A-2 Interest covered by a Restricted Stock Unit shall be delivered
to Executive until both (x) the Restricted Stock Unit becomes a Vested
Restricted Stock Unit and (y) each of the following conditions precedent
to delivery of such Class A-2 Interest shall have been satisfied in full,
as determined in the sole discretion of the Board:

 

(i)                                     One
of the following events shall have occurred:

 

(A)                              a
Change in Control that also qualifies as a “change in the ownership or
effective control of a corporation, or a change in the ownership of a
substantial portion of the assets of a corporation” (as described in Code Section 409A
and related guidance (“Section 409A”))
in respect of the Partnership;

 

(B)                                Executive’s
“separation from service” from the Partnership and its Subsidiaries (as
described in Section 409A);

 

(C)                                August 23,
2013, regardless of whether Executive is employed by the Company on such date;

 

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(D)                               Executive’s
death or Disability (so long as such Disability qualifies as a “disability”
under Section 409A); or

 

(E)                                 if
permissible under Section 409A without the imposition of any additional
tax in respect of, or current taxation prior to actual delivery of, the Class A-2
Interests, the date that is 24 months following the occurrence of a Qualified
Public Offering.

 

(ii)                                  Executive
shall have paid to the Company such amount as may be requested by the
Partnership for purposes of depositing any federal, state or local income or
other taxes required by law to be withheld with respect to the delivery of the
Restricted Equity Units (provided that this condition may be satisfied if
Executive instead directs the Company to withhold Class A-2 Interests to
cover such required withholding amounts).

 

(iii)                               Executive
(or Executive’s estate or heirs) and, if applicable, the spouse of Executive
(or Executive’s estate or heirs) shall have executed and delivered to the
Partnership an Addendum Agreement pursuant to which Executive (or Executive’s
estate or heirs) shall have become a party to the Partnership Agreement and a Class A-2
Limited Partner.

 

3.4.                              Termination of Restricted Equity Units.

 

(a)                                  Subject
to Section 3.1(b), Unvested Restricted Equity Units shall be canceled if
Executive’s employment with the Company is terminated for any reason (including
death or Disability).

 

(b)                                 Vested
Restricted Equity Units shall be canceled upon the occurrence of the following:

 

(i)                                     Executive’s
breach of the provisions of Section 5 of this Agreement (or any similar
agreed-upon obligations of Executive to the Company); or

 

(ii)                                  termination
of Executive’s employment with the Company for Cause.

 

3.5.                              Partnership Agreement. Executive
acknowledges receipt of a copy of the Partnership Agreement and represents that
Executive understands that (a) the terms of Class A-2 Interests are
set forth in, and governed by, the Partnership Agreement, (b) Executive
shall have no rights in respect of such Class A-2 Interests (including any
right to receive distributions under the Partnership Agreement) until the
Company delivers such Class A-2 Interests pursuant to the terms hereof and
Executive becomes a Class A-2 Limited Partner pursuant to the Partnership
Agreement and (c) the Partnership Agreement may be amended or
modified from time to time prior to Executive becoming a party thereto pursuant
to the terms of the Partnership Agreement.

 

5

 

SECTION 4

DISTRIBUTION
EQUIVALENT RIGHTS

 

4.1.                              Payments and Allocations upon Distributions.
If on any date while Restricted Equity Units are outstanding hereunder, the
Partnership shall make any distribution to holders of Class A Interests
pursuant to Article VIII of the Partnership Agreement, the Partnership
shall take the following actions:

 

(a)                                  the
Partnership shall cause the Company to promptly pay Executive an amount, in
respect of each Vested Restricted Equity Unit, equal to the amount that would
have been payable in respect of the Class A-2 Interest underlying such
Vested Restricted Equity Unit if it were issued and outstanding on the date of
such distribution (such payment amount, the “Vested
Distribution Equivalent Payment”); and

 

(b)                                 the
Partnership shall cause the Company to allocate to a notional account for
Executive (the “Notional Account”)
an amount, in respect of each Unvested Restricted Equity Unit, equal to the
amount that would have been payable in respect of the Class A-2 Interest
underlying such Unvested Restricted Equity Unit if it were issued and
outstanding on the date of such distribution.

 

4.2.                              Additional Payments upon Vesting. On
any date that any Unvested Restricted Equity Units become Vested Restricted
Equity Units, Executive shall be entitled to receive an amount (such amount,
the “Unvested Distribution Equivalent Payment”
and, together with the Vested Distribution Equivalent Payment, the “Distribution Equivalent Payment”) equal to the product of
(x) all amounts then credited to Executive’s Notional Account multiplied
by (y) a fraction, the numerator of which shall be the number of
Restricted Equity Units that became Vested Restricted Equity Units on such date
and denominator of which shall be the total number of Unvested Restricted Equity
Units immediately prior to such date. Upon payment of any Unvested Distribution
Equivalent Payment, the amount credited to the Notional Account shall be
reduced thereby.

 

4.3.                              Adjustments to Hypothetical Capital Contribution.
Upon payment of any Distribution Equivalent Payment, the hypothetical Capital
Contribution associated with Class A-2 Interests issued pursuant to the
Restricted Stock Units shall be reduced by such Distribution Equivalent Payment
(until such hypothetical amount shall equal zero, at which point it shall not
be further reduced).

 

4.4.                              Withholding. The Partnership and
the Company shall have the right and is hereby authorized to withhold from any
Distribution Equivalent Payment the amount of any applicable withholding taxes
in respect of such payment and to take such action as may be necessary in
the opinion of the Partnership or the Company to satisfy all obligations for
the payment of such taxes. Notwithstanding the foregoing, the Partnership
shall, or shall cause one its Subsidiaries to, “gross-up” Executive for any
FICA/medicare withholding taxes that will be payable in respect of the vesting
of Restricted Equity Units (to the extent such taxes would not otherwise have
been payable by Executive during the applicable fiscal year absent such
vesting).

 

6

 

SECTION 5

NON-COMPETITION AND CONFIDENTIALITY

 

5.1.                              Non-Competition.

 

(a)                                  From
the date hereof while employed by the Company and for a two-year period
following the date Executive ceases to be employed by the Company (the “Restricted
Period”), irrespective of the cause, manner or time of any termination,
Executive shall not use his status with any Company or any of its Affiliates to
obtain loans, goods or services from another organization on terms that would
not be available to him in the absence of his relationship to the Company or
any of its Affiliates.

 

(b)                                 During
the Restricted Period, Executive shall not make any statements or perform any
acts intended to or which may have the effect of advancing the interest of
any Competitors of the Company or any of its Affiliates or in any way injuring
the interests of the Company or any of its Affiliates and the Company and its
Affiliates shall not make or authorize any person to make any statement that
would in any way injure the personal or business reputation or interests of
Executive; provided however, that, subject to Section 5.2, nothing herein
shall preclude the Company and its Affiliates or Executive from giving truthful
testimony under oath in response to a subpoena or other lawful process or
truthful answers in response to questions from a government investigation;
provided, further, however, that nothing herein shall prohibit the Company and
its Affiliates from disclosing the fact of any termination of Executive’s
employment or the circumstances for such a termination. For purposes of this Section 5.1(b),
the term “Competitor” means any enterprise or business that is engaged in, or
has plans to engage in, at any time during the Restricted Period, any activity
that competes with the businesses conducted during or at the termination of
Executive’s employment, or then proposed to be conducted, by the Company and
its Affiliates in a manner that is or would be material in relation to the
businesses of the Company or the prospects for the businesses of the Company
(in each case, within 100 miles of any geographical area where the Company or
its Affiliates manufactures, produces, sells, leases, rents, licenses or
otherwise provides its products or services). During the Restricted Period,
Executive, without prior express written approval by the Board, shall not (A) engage
in, or directly or indirectly (whether for compensation or otherwise) manage,
operate, or control, or join or participate in the management, operation or
control of a Competitor, in any capacity (whether as an employee, officer,
director, partner, consultant, agent, advisor, or otherwise) or (B) develop,
expand or promote, or assist in the development, expansion or promotion of, any
division of an enterprise or the business intended to become a Competitor at
any time after the end of the Restricted Period or (C) own or hold a
Proprietary Interest in, or directly furnish any capital to, any Competitor of
the Company. Executive acknowledges that the Company’s and its Affiliates
businesses are conducted nationally and internationally and agrees that the
provisions in the foregoing sentence shall operate throughout the United States
and the world (subject to the definition of “Competitor”).

 

(c)                                  During
the Restricted Period, Executive, without express prior written approval from
the Board, shall not solicit any members or the then current clients of the
Company or any of its Affiliates for any existing business of the Company or
any of its Affiliates 

 

7

 

or discuss
with any employee of the Company or any of its Affiliates information or
operations of any business intended to compete with the Company or any of its
Affiliates.

 

(d)                                 During
the Restricted Period, Executive shall not interfere with the employees or
affairs of the Company or any of its Affiliates or solicit or induce any person
who is an employee of the Company or any of its Affiliates to terminate any
relationship such person may have with the Company or any of its
Affiliates, nor shall Executive during such period directly or indirectly
engage, employ or compensate, or cause or permit any Person with which
Executive may be Affiliated, to engage, employ or compensate, any employee
of the Company or any of its Affiliates.

 

(e)                                  For
the purposes of this Agreement, “Proprietary Interest” means any legal,
equitable or other ownership, whether through stock holding or otherwise, of an
interest in a business, firm or entity; provided, that ownership of less than
5% of any class of equity interest in a publicly held company shall not be
deemed a Proprietary Interest.

 

(f)                                    The
period of time during which the provisions of this Section 5.1 shall be in
effect shall be extended by the length of time during which Executive is in
breach of the terms hereof as determined by any court of competent jurisdiction
on the Company’s application for injunctive relief.

 

(g)                                 Executive
agrees that the restrictions contained in this Section 5.1 are an
essential element of the compensation Executive is granted hereunder and but
for Executive’s agreement to comply with such restrictions, the Company would
not have entered into this Agreement.

 

(h)                                 It
is expressly understood and agreed that although Executive and the Company
consider the restrictions contained in this Section 5.1 to be reasonable,
if a final judicial determination is made by a court of competent jurisdiction
that the time or territory or any other restriction contained in this Agreement
is an unenforceable restriction against Executive, the provisions of this
Agreement shall not be rendered void but shall be deemed amended to apply as to
such maximum time and territory and to such maximum extent as such court may judicially
determine or indicate to be enforceable. Alternatively, if any court of
competent jurisdiction finds that any restriction contained in this Agreement
is unenforceable, and such restriction cannot be amended so as to make it
enforceable, such finding shall not affect the enforceability of any of the
other restrictions contained herein.

 

5.2.                              Confidentiality.

 

(a)                                  Executive
will not at any time (whether during or after Executive’s employment with the
Company) (x) retain or use for the benefit, purposes or account of Executive or
any other Person; or (y) disclose, divulge, reveal, communicate, share,
transfer or provide access to any Person outside the Company (other than its
professional advisers who are bound by confidentiality obligations), any
non-public, proprietary or confidential information (including without
limitation trade secrets, know-how, research and development, software,
databases, inventions, processes, formulae, technology, designs and other
intellectual property, information concerning finances, investments, profits, pricing,
costs, products, services, vendors, 

 

8

 

customers,
clients, partners, investors, personnel, compensation, recruiting, training,
advertising, sales, marketing, promotions, government and regulatory activities
and approvals) concerning the past, current or future business, activities and
operations of the Company or its Affiliates and/or any third party that has
disclosed or provided any of same to the Company on a confidential basis (“Confidential
Information”) without the prior written authorization of the Board.

 

(b)                                 “Confidential
Information” shall not include any information that is (i) generally known
to the industry or the public other than as a result of Executive’s breach of
this covenant or any breach of other confidentiality obligations by third
parties; (ii) made legitimately available to Executive by a third party
without breach of any confidentiality obligation; or (iii) required by law
to be disclosed; provided that Executive shall give prompt written
notice to the Company of such requirement, disclose no more information than is
so required, and cooperate, at the Company’s cost, with any attempts by the
Company to obtain a protective order or similar treatment.

 

(c)                                  Except
as required by law, Executive will not disclose to anyone, other than Executive’s
immediate family and legal or financial advisors, the existence or contents of
this Agreement (unless this Agreement shall be publicly available as a result
of a regulatory filing made by the Company or its Affiliates); provided
that Executive may disclose to any prospective future employer the
provisions of Section 5 of this Agreement provided they agree to maintain
the confidentiality of such terms.

 

(d)                                 Upon
termination of Executive’s employment with the Company for any reason,
Executive shall (x) cease and not thereafter commence use of any Confidential
Information or intellectual property (including without limitation, any patent,
invention, copyright, trade secret, trademark, trade name, logo, domain name or
other source indicator) owned or used by the Company or its Affiliates; (y)
immediately destroy, delete, or return to the Company, at the Company’s option,
all originals and copies in any form or medium (including memoranda,
books, papers, plans, computer files, letters and other data) in Executive’s
possession or control (including any of the foregoing stored or located in
Executive’s office, home, laptop or other computer, whether or not Company
property) that contain Confidential Information or otherwise relate to the
business of the Company and its Affiliates, except that Executive may retain
only those portions of any personal notes, notebooks and diaries that do not
contain any Confidential Information; and (z) notify and fully cooperate with
the Company regarding the delivery or destruction of any other Confidential
Information of which Executive is or becomes aware.

 

5.3.                              Intellectual Property.

 

(a)                                  If
Executive has created, invented, designed, developed, contributed to or improved
any works of authorship, inventions, intellectual property, materials,
documents or other work product (including without limitation, research,
reports, software, databases, systems, applications, presentations, textual
works, content, or audiovisual materials) (“Works”), either alone or with third
parties, prior to Executive’s employment by the Company, that are relevant to
or implicated by such employment (“Prior Works”), Executive hereby grants the
Company a perpetual, non-exclusive, royalty-free, worldwide, assignable,
sublicensable license under all 

 

9

 

rights and
intellectual property rights (including rights under patent, industrial
property, copyright, trademark, trade secret, unfair competition and related
laws) therein for all purposes in connection with the Company’s current and
future business.

 

(b)                                 If
Executive creates, invents, designs, develops, contributes to or improves any
Works, either alone or with third parties, at any time during Executive’s
employment by the Company and within the scope of such employment and/or with
the use of any the Company resources (“Company Works”), Executive shall
promptly and fully disclose same to the Company and hereby irrevocably assigns,
transfers and conveys, to the maximum extent permitted by applicable law, all
rights and intellectual property rights therein (including rights under patent,
industrial property, copyright, trademark, trade secret, unfair competition and
related laws) to the Company to the extent ownership of any such rights does
not vest originally in the Company.

 

(c)                                  Executive
agrees to keep and maintain adequate and current written records (in the form of
notes, sketches, drawings, and any other form or media requested by the
Company) of all Company Works. The records will be available to and remain the
sole property and intellectual property of the Company at all times.

 

(d)                                 Executive
shall take all requested actions and execute all requested documents (including
any licenses or assignments required by a government contract) at the Company’s
expense (but without further remuneration) to assist the Company in validating,
maintaining, protecting, enforcing, perfecting, recording, patenting or
registering any of the Company’s rights in the Prior Works and Company Works. If
the Company is unable for any other reason to secure Executive’s signature on
any document for this purpose, then Executive hereby irrevocably designates and
appoints the Company and its duly authorized officers and agents as Executive’s
agent and attorney in fact, to act for and in Executive’s behalf and stead to
execute any documents and to do all other lawfully permitted acts in connection
with the foregoing.

 

(e)                                  Executive
shall not improperly use for the benefit of, bring to any premises of, divulge,
disclose, communicate, reveal, transfer or provide access to, or share with the
Company any confidential, proprietary or non-public information or intellectual
property relating to a former employer or other third party without the prior
written permission of such third party. Executive hereby indemnifies, holds
harmless and agrees to defend the Company and its officers, directors,
partners, employees, agents and representatives from any breach of the
foregoing covenant. Executive shall comply with all relevant policies and
guidelines of the Company, including regarding the protection of confidential
information and intellectual property and potential conflicts of interest. Executive
acknowledges that the Company may amend any such policies and guidelines
from time to time, and that Executive remains at all times bound by their most
current version.

 

5.4.                              Specific Performance. Executive
acknowledges and agrees that the Partnership’s remedies at law for a breach or
threatened breach of any of the provisions of this Section 5 would be
inadequate and the Partnership would suffer irreparable damages as a result of
such breach or threatened breach. In recognition of this fact, Executive agrees
that, in the event of such a breach or threatened breach, in addition to any
remedies at law, the Partnership, 

 

10

 

without
posting any bond, shall be entitled to cease making any payments or providing
any benefit otherwise required by this Agreement and obtain equitable relief in
the form of specific performance, temporary restraining order, temporary
or permanent injunction or any other equitable remedy which may then be
available. Without limiting the generality of the foregoing, neither party shall
oppose any motion the other party may make for any expedited discovery or
hearing in connection with any alleged breach of this Section 5.

 

5.5.                              Survival. The provisions of this Section 5
shall survive the termination of Executive’s employment for any reason.

 

SECTION 6

MISCELLANEOUS

 

6.1.                              Tax Issues. THE ISSUANCE OF THE
RESTRICTED EQUITY UNITS TO EXECUTIVE AND/OR THE DELIVERY OF THE CLASS A-2
INTERESTS PURSUANT TO THIS AGREEMENT INVOLVES COMPLEX AND SUBSTANTIAL TAX
CONSIDERATIONS. EXECUTIVE ACKNOWLEDGES THAT HE HAS CONSULTED HIS OWN TAX
ADVISOR WITH RESPECT TO THE TRANSACTIONS DESCRIBED IN THIS AGREEMENT. THE COMPANY MAKES NO WARRANTIES OR REPRESENTATIONS
WHATSOEVER TO EXECUTIVE REGARDING THE TAX CONSEQUENCES OF EXECUTIVE’S RECEIPT
OF THE RESTRICTED EQUITY UNITS AND/OR CLASS A-2 INTERESTS OR THIS
AGREEMENT. EXECUTIVE ACKNOWLEDGES AND AGREES THAT EXECUTIVE
SHALL BE SOLELY RESPONSIBLE FOR ANY TAXES ON THE RESTRICTED EQUITY UNITS AND
SHALL HOLD THE COMPANY, ITS OFFICERS, DIRECTORS AND EMPLOYEES HARMLESS FROM ANY
LIABILITY ARISING FROM ANY TAXES INCURRED BY EXECUTIVE IN CONNECTION WITH THE
RESTRICTED EQUITY UNITS.

 

6.2.                              Compliance with IRC Section 409A. Notwithstanding
anything herein to the contrary, (i) if at the time Executive is a “specified
employee” as defined in Section 409A and the deferral of the commencement
of any payments or benefits otherwise payable hereunder is necessary in order
to prevent any accelerated or additional tax under Section 409A, then the
Company will defer the commencement of the payment of any such payments or
benefits hereunder (without any reduction in such payments or benefits
ultimately paid or provided to Executive) until the date that is six months
following Executive’s termination of employment with the Company (or the earliest
date as is permitted under Section 409A) and (ii) if any other
payments of money or other benefits due to Executive hereunder could cause the
application of an accelerated or additional tax under Section 409A, such
payments or other benefits shall be deferred if deferral will make such payment
or other benefits compliant under Section 409A, or otherwise such payment
or other benefits shall be restructured, to the extent possible, in a manner,
determined by the Board, that does not cause such an accelerated or additional
tax. The Company shall consult with Executive in good faith regarding the
implementation of the provisions of this Section 6.2; provided that
neither the Company nor any of its employees or representatives shall have any
liability to Executive with respect to thereto.

 

11

 

6.3.                              Employment of Executive. Executive
acknowledges that he is employed by the Partnership or its Affiliates subject
to the terms of his employment agreement with the Partnership (if any). Any
change of Executive’s duties as an employee of the Company shall not result in
a modification of the terms of this Agreement.

 

6.4.                              Equitable Adjustments. Notwithstanding
any other provisions in this Agreement, the Partnership Agreement or the Plan
to the contrary, in the event of any change in the outstanding Interests after
the date hereof by reason of any equity dividend or split, reorganization,
recapitalization, merger, consolidation, spin-off, combination, combination or
transaction or exchange of Interests or other corporate exchange, or any
distribution to Partners of equity or cash (other than regular cash
distributions) or any transaction similar to the foregoing (regardless of
whether outstanding Interests are changed) (collectively, “Adjustment
Events”), the General Partner in its sole discretion and without
liability to any Person shall make such substitution or adjustment, if any, as
it deems to be equitable (taking into consideration such matters, without
limitation, as relative value of each class of Interests and the
Restricted Equity Units, status of vesting and the nature of the Adjustment
Event and its impact on the Interests and the Restricted Equity Units) to the
Management Limited Partners as a group, as to (i) the number or kind of
Interests or other securities issued or reserved for issuance under the
Partnership Agreement in respect of Restricted Equity Units, (ii) the
vesting terms under this Agreement, (iii) the distribution priorities
contained in the Partnership Agreement and/or (iv) any other affected
terms hereunder.

 

6.5.                              Calculation of Benefits. Neither the
Restricted Equity Units nor the Class A-2 Interests shall be deemed
compensation for purposes of computing benefits or contributions under any
retirement plan of the Company and shall not affect any benefits, or
contributions to benefits, under any other benefit plan of any kind now or
subsequently in effect under which the availability or amount of benefits or
contributions is related to level of compensation.

 

6.6.                              Setoff. The Partnership’s obligation to
pay Executive the amounts provided and to make the arrangements provided
hereunder and under the Partnership Agreement shall be subject to set off,
counterclaim or recoupment of amounts owed by such Executive (or any Affiliate
of such Executive (or any of its Relatives) that is Controlled by such
Executive (or any of its Relatives)) to the Partnership or its Affiliates
(including without limitation amounts owed pursuant to the Partnership
Agreement).

 

6.7.                              Remedies.

 

(a)                                  The
rights and remedies provided by this Agreement are cumulative and the use of
any one right or remedy by any party shall not preclude or waive its right to
use any or all other remedies. These rights and remedies are given in addition
to any other rights the parties may have at law or in equity.

 

(b)                                 Except
where a time period is otherwise specified, no delay on the part of any
party in the exercise of any right, power, privilege or remedy hereunder shall
operate as a waiver thereof, nor shall any exercise or partial exercise of any
such right, power, privilege or remedy preclude any further exercise thereof or
the exercise of any right, power, privilege or remedy.

 

12

 

6.8.                              Waivers and Amendments. The respective
rights and obligations of the Partnership and Executive under this Agreement may be
waived (either generally or in a particular instance, either retroactively or
prospectively, and either for a specified period of time or indefinitely) by
such respective party. This Agreement may be amended only with the written
consent of a duly authorized representative of the Partnership and Executive.

 

6.9.                              Governing Law. This Agreement shall be
governed by and construed in accordance with the laws of the State of New York.

 

6.10.                        CONSENT TO JURISDICTION.

 

(a)                                  EACH OF THE PARTIES HERETO HEREBY CONSENTS TO THE
EXCLUSIVE JURISDICTION OF ALL STATE AND FEDERAL COURTS LOCATED IN THE STATE OF
NEW YORK, AS WELL AS TO THE JURISDICTION OF ALL COURTS TO WHICH AN APPEAL MAY BE
TAKEN FROM SUCH COURTS, FOR THE PURPOSE OF ANY SUIT, ACTION OR OTHER PROCEEDING
ARISING OUT OF, OR IN CONNECTION WITH, THIS AGREEMENT OR ANY OF THE
TRANSACTIONS CONTEMPLATED HEREBY, INCLUDING, WITHOUT LIMITATION, ANY PROCEEDING
RELATING TO ANCILLARY MEASURES IN AID OF ARBITRATION, PROVISIONAL REMEDIES AND
INTERIM RELIEF, OR ANY PROCEEDING TO ENFORCE ANY ARBITRAL DECISION OR AWARD. EACH
PARTY HEREBY EXPRESSLY WAIVES ANY AND ALL RIGHTS TO BRING ANY SUIT, ACTION OR
OTHER PROCEEDING IN OR BEFORE ANY COURT OR TRIBUNAL OTHER THAN THE COURTS
DESCRIBED ABOVE AND COVENANTS THAT IT SHALL NOT SEEK IN ANY MANNER TO RESOLVE
ANY DISPUTE OTHER THAN AS SET FORTH IN THIS SECTION 6.10 OR TO CHALLENGE
OR SET ASIDE ANY DECISION, AWARD OR JUDGMENT OBTAINED IN ACCORDANCE WITH THE
PROVISIONS HEREOF.

 

(b)                                 EACH OF THE PARTIES HERETO HEREBY EXPRESSLY WAIVES ANY
AND ALL OBJECTIONS IT MAY HAVE TO VENUE, INCLUDING, WITHOUT LIMITATION,
THE INCONVENIENCE OF SUCH FORUM, IN ANY OF SUCH COURTS. IN ADDITION, EACH OF
THE PARTIES CONSENTS TO THE SERVICE OF PROCESS BY PERSONAL SERVICE OR ANY
MANNER IN WHICH NOTICES MAY BE DELIVERED HEREUNDER IN ACCORDANCE WITH SECTION 6.14
OF THIS AGREEMENT.

 

6.11.                        Waiver of Jury Trial. EACH OF THE
PARTIES HERETO HEREBY VOLUNTARILY AND IRREVOCABLY WAIVES TRIAL BY JURY IN ANY
ACTION OR OTHER PROCEEDING BROUGHT IN CONNECTION WITH THIS AGREEMENT, ANY OF
THE OTHER DOCUMENTS OR ANY OF THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY.

 

6.12.                        Successors and Assigns. Except as
otherwise expressly provided herein, the provisions hereof shall inure to the
benefit of, and be binding upon, the successors, assigns, heirs, executors and
administrators of the parties hereto.

 

13

 

6.13.                        Entire Agreement. This Agreement and
the Other Documents constitute the full and entire understanding and agreement
of the parties with regard to the subjects hereof and supersedes in their
entirety all other prior agreements, whether oral or written, with respect
thereto. This Agreement
supersedes all prior agreements and understandings (including verbal
agreements) between Executive and the Company regarding grants of equity,
equity-based or equity-related rights or instruments in any Company (including,
for the avoidance of doubt, any rights promised by Cendant Corporation or its
Affiliates in respect of any Company, except other agreements entered into on
the date hereof with respect to limited partnership interests in the
Partnership.

 

6.14.                        Notices. All demands, notices,
requests, consents and other communications required or permitted under this
Agreement shall be in writing and shall be personally delivered or sent by
facsimile machine (with a confirmation copy sent by one of the other methods
authorized in this Section 6.14),
reputable commercial overnight delivery service (including Federal Express and
U.S. Postal Service overnight delivery service) or, deposited with the U.S.
Postal Service mailed first class, registered or certified mail, postage
prepaid, as set forth below:

 

If to the Partnership, addressed to:

 

TDS Investor
(Cayman) L.P.

c/o Travelport Inc.

9 West 57th Street

New York, NY 10019

Attention:  Eric Bock, General Counsel

Fax:  (212) 413-1922

 

with a copy which shall not constitute notice to:

 

The Blackstone
Group

345 Park Avenue

New York, New York 10154

Attention: Chip Schorr

Fax: +1 212 583 5712

 

with a copy which shall not constitute notice to:

 

Simpson
Thacher & Bartlett LLP

425 Lexington Ave.

New York, NY 10017

Attention:  William Curbow and Greg
Grogan

Fax:  (212) 455-2502

 

If to Executive, to the address set forth on the signature page of
this Agreement or at the current address listed in the Partnership’s records.

 

Notices shall be deemed given upon the earlier to occur of (i) receipt
by the party to whom such notice is directed; (ii) if sent by facsimile
machine, on the day (other than a Saturday, Sunday or legal holiday in the
jurisdiction to which such notice is directed) such notice is sent if sent (as 

 

14

 

evidenced by the facsimile confirmed receipt) prior to 5:00 p.m.
Eastern Time and, if sent after 5:00 p.m. Eastern Time, on the day (other
than a Saturday, Sunday or legal holiday in the jurisdiction to which such
notice is directed) after which such notice is sent; (iii) on the first
business day (other than a Saturday, Sunday or legal holiday in the
jurisdiction to which such notice is directed) following the day the same is
deposited with the commercial courier if sent by commercial overnight delivery
service; or (iv) the fifth day (other than a Saturday, Sunday or legal
holiday in the jurisdiction to which such notice is directed) following deposit
thereof with the U.S. Postal Service as aforesaid. Each party, by notice duly
given in accordance therewith, may specify a different address for the
giving of any notice hereunder.

 

6.15.                        No Third Party Beneficiaries. There are
no third party beneficiaries of this Agreement.

 

6.16.                        Agreement Subject to Partnership Agreement and Plan.
By entering into this Agreement, Executive agrees and acknowledges that
Executive has received and read a copy of the Partnership Agreement and the
Plan and that the Restricted Equity Units are subject to the Partnership
Agreement and the Plan. The terms and provisions of the Partnership Agreement
and Plan as may be amended from time to time are hereby incorporated by
reference. In the event of a conflict between any term or provision contained
herein and a term or provision of the Partnership Agreement or the Plan, the
applicable terms and provisions of the Partnership Agreement or the Plan will
govern and prevail.

 

6.17.                        Severability; Titles and Subtitles; Gender;
Singular and Plural; Counterparts; Facsimile.

 

(a)                                  In
case any provision of this Agreement shall be invalid, illegal or unenforceable,
the validity, legality and enforceability of the remaining provisions of this
Agreement shall not in any way be affected or impaired thereby.

 

(b)                                 The
titles of the sections and subsections of this Agreement are for convenience of
reference only and are not to be considered in construing this Agreement.

 

(c)                                  The
use of any gender in this Agreement shall be deemed to include the other
genders, and the use of the singular in this Agreement shall be deemed to
include the plural (and vice versa), wherever appropriate.

 

(d)                                 This
Agreement may be executed in any number of counterparts, each of which
shall be an original, but all of which together constitute one instrument.

 

(e)                                  Counterparts
of this Agreement (or applicable signature pages hereof) that are manually
signed and delivered by facsimile transmission shall be deemed to constitute
signed original counterparts hereof and shall bind the parties signing and
delivering in such manner.

 

15

 

IN WITNESS WHEREOF, the Partnership and Executive have executed this
Agreement as of the day and year first written above.

 

	
   

  	
  COMPANY:

  
	
   

  	
   

  
	
   

  	
  TDS
  Investor (Cayman) L.P.

  
	
   

  	
   

  
	
   

  	
  By:

  	
  TDS Investor (Cayman) GP Ltd.,

  
	
   

  	
   

  	
  its general partner

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  EXECUTIVE:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Name:
  Terence Conley

  
						

 

Number of
Restricted Equity Units:  2,749,529

 

 

IN WITNESS WHEREOF, the Partnership and Executive have executed this
Agreement as of the day and year first written above.

 

	
   

  	
  COMPANY:

  
	
   

  	
   

  
	
   

  	
  TDS
  Investor (Cayman) L.P.

  
	
   

  	
   

  
	
   

  	
  By:

  	
  TDS Investor (Cayman) GP Ltd.,

  
	
   

  	
   

  	
  its general partner

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  EXECUTIVE:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Name: Steve Barnhart

  
						

 

 

 

IN WITNESS WHEREOF, the Partnership and Executive have executed this
Agreement as of the day and year first written above.

 

	
   

  	
  COMPANY:

  
	
   

  	
   

  
	
   

  	
  TDS
  Investor (Cayman) L.P.

  
	
   

  	
   

  
	
   

  	
  By:

  	
  TDS Investor (Cayman) GP Ltd.,

  
	
   

  	
   

  	
  its general partner

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  	
   

  
	
   

  	
  Name:

  
	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  EXECUTIVE:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Name: JoAnne Kruse

  
						

 

 

 

IN WITNESS WHEREOF, the Partnership and Executive have executed this
Agreement as of the day and year first written above.

 

	
   

  	
  COMPANY:

  
	
   

  	
   

  
	
   

  	
  TDS
  Investor (Cayman) L.P.

  
	
   

  	
   

  
	
   

  	
  By:

  	
  TDS Investor (Cayman) GP Ltd.,

  
	
   

  	
   

  	
  its general partner

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  	
   

  
	
   

  	
  Name:

  
	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
  EXECUTIVE:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Name: Eric Bock

  
						

 

 

 

IN WITNESS WHEREOF, the Partnership and Executive have executed this
Agreement as of the day and year first written above.

 

	
   

  	
  COMPANY:

  
	
   

  	
   

  
	
   

  	
  TDS
  Investor (Cayman) L.P.

  
	
   

  	
   

  
	
   

  	
  By:

  	
  TDS Investor (Cayman) GP Ltd.,

  
	
   

  	
   

  	
  its general partner

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  	
   

  
	
   

  	
  Name:

  
	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  EXECUTIVE:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Name: Kenneth Esterow

  
						

 

 

 

IN WITNESS WHEREOF, the Partnership and Executive have executed this
Agreement as of the day and year first written above.

 

	
   

  	
  COMPANY:

  
	
   

  	
   

  
	
   

  	
  TDS
  Investor (Cayman) L.P.

  
	
   

  	
   

  
	
   

  	
  By:

  	
  TDS Investor (Cayman) GP Ltd.,

  
	
   

  	
   

  	
  its general partner

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  	
   

  
	
   

  	
  Name:

  
	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  EXECUTIVE:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Name: Jeff Clarke

  
						

 

 

 

IN WITNESS WHEREOF, the Partnership and Executive have executed this
Agreement as of the day and year first written above.

 

	
   

  	
  COMPANY:

  
	
   

  	
   

  
	
   

  	
  TDS
  Investor (Cayman) L.P.

  
	
   

  	
   

  
	
   

  	
  By:

  	
  TDS Investor (Cayman) GP Ltd.,

  
	
   

  	
   

  	
  its general partner

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  	
   

  
	
   

  	
  Name:

  
	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
  EXECUTIVE:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Name: 

  
						

 

 

 

Exhibit A
–Interest Plan

 

(Distributed
Separately)Exhibit 10.20

 

MANAGEMENT EQUITY AWARD AGREEMENT

(“Purchased” Restricted Equity Units)

 

THIS MANAGEMENT EQUITY AWARD AGREEMENT (“Agreement”) is made as of November 6, 2006 by and between
TDS Investor (Cayman) L.P., a Cayman Islands limited partnership (the “Partnership”) and the executive whose name
is set forth on the signature page hereto (“Executive”).

 

RECITALS

 

The Partnership has adopted the TDS Investor (Cayman) L.P. 2006
Interest Plan (the “Plan”), a copy
of which is attached hereto as Exhibit A. 

 

In connection with Executive’s employment by the Partnership or one of
its Subsidiaries (collectively, the “Company”),
the Partnership intends concurrently herewith to grant the number of Restricted
Equity Units (as defined below) set forth on the signature page hereto.

 

NOW, THEREFORE, in consideration of the foregoing premises and the
mutual promises set forth in this Agreement, and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged,
the parties to this Agreement, intending to be legally bound, agree as follows:

 

SECTION 1

DEFINITIONS

 

1.1.                              Definitions. Capitalized terms not
otherwise defined herein shall have the meanings ascribed to them in the
Partnership Agreement. In addition to the terms defined in the Partnership
Agreement, the terms below shall have the following respective meanings:

 

“Agreement” has the
meaning specified in the Introduction.

 

“Board” means the board of
directors of the General Partner (or, if applicable, any committee of the Board).

 

“Cause” shall have the meaning assigned
such term in any employment agreement entered into between any Company and
Executive, provided that if no such employment agreement exists or such term is
not defined, then “Cause” shall mean (A) Executive’s failure
substantially to perform Executive’s duties to the Company (other than as
a result of total or partial incapacity due to Disability) for a period of 10
days following receipt of written notice from any Company by Executive of such
failure; provided that it is understood that this clause (A) shall not
apply if a Company terminates Executive’s employment because of dissatisfaction
with actions taken by Executive in the good faith performance of Executive’s
duties to the Company, (B) theft or embezzlement of property of the
Company or dishonesty in the performance of Executive’s duties to the Company, (C) an
act or acts on Executive’s part constituting (x) a felony under the laws
of the United States or any state thereof or (y) a crime involving moral turpitude,
(D) Executive’s willful malfeasance or willful misconduct in connection
with Executive’s duties or any act or omission which is materially injurious to
the 

 

 

financial
condition or business reputation of the Company or its Affiliates, or (E) Executive’s
breach of the provisions of any agreed-upon non-compete, non-solicitation or
confidentiality provisions agreed to with the Company, including pursuant to
this Agreement and pursuant to any employment agreement. 

 

“Company” has the meaning
specified in the Recitals.

 

“Disability” shall have
the meaning assigned such term in any employment agreement entered into between
any Company and Executive, provided that if no such employment agreement exists
or such term is not defined, then “Disability” shall mean Executive
shall have become physically or mentally incapacitated and is therefore unable
for a period of nine (9) consecutive months or for an aggregate of twelve
(12) months in any eighteen (18) consecutive month period to perform Executive’s
duties under Executive’s employment. Any question as to the existence of the
Disability of Executive as to which Executive and the Partnership cannot agree
shall be determined in writing by a qualified independent physician mutually
acceptable to Executive and the Partnership. If Executive and the Partnership
cannot agree as to a qualified independent physician, each shall appoint such a
physician and those two physicians shall select a third who shall make such
determination in writing. The determination of Disability made in writing to
the Partnership and Executive shall be final and conclusive for all purposes of
this Agreement and any other agreement between any Company and Executive that
incorporates the definition of “Disability”.

 

“Effective Date” means the
date hereof.

 

“Exchange Act” shall mean the Securities
Exchange Act of 1934, as amended.

 

“Executive” has the
meaning specified in the Introduction.

 

“Other Documents”  means  the
Partnership Agreement, any other management equity award agreement between Executive
and the Partnership and any employment agreement by and between Executive and
any Partnership, in each case as amended, modified, supplemented or restated
from time to time in accordance with the terms thereof.

 

“Partnership” has the
meaning specified in the Introduction.

 

“Partnership Agreement”
shall mean the Agreement of Limited Partnership, as amended, modified or
supplemented from time to time, of the Partnership.

 

“Unvested Restricted Equity Units”
means Restricted Equity Units held by Executive that are subject to any
vesting, forfeiture or similar arrangement under this Agreement.

 

“Vested Restricted Equity Units”
means Restricted Equity Units held by Executive that are no longer subject to
any vesting, forfeiture or similar arrangement under this Agreement. 

 

2

 

SECTION 2

GRANT OF RESTRICTED EQUITY UNITS

 

2.1.                              Restricted Equity Units. Subject to the
terms and conditions hereof, the Partnership hereby grants Executive the number
of Restricted Equity Units as is set forth on the signature page to this
Agreement and Executive accepts such Restricted Equity Units from the
Partnership. Each “Restricted Equity Unit”
represents the right to receive from the Partnership, on the terms and
conditions (and at the times) set forth in this Agreement (including Section 3.3),
one Class A-2 Interest with a hypothetical capital contribution equal to,
on the date hereof, $1 per Class A-2 Interest (but subject to adjustment
pursuant to Section 4.3). The terms of Class A-2 Interests are set
forth in, and governed by, the Partnership Agreement and Executive shall have
no rights in respect of such Class A-2 Interests until the Company
delivers such Class A-2 Interests pursuant to the terms hereof and
Executive becomes a Class A-2 Limited Partner pursuant to the Partnership
Agreement. 

 

SECTION 3

VESTING, TRANSFER PROHIBITED, DELIVERY AND TERMINATION

 

3.1.                              Vesting Schedule. Subject to Executive’s
continued employment with the Company, 100% of the Restricted Equity Units
granted hereunder shall vest and automatically become Vested Restricted Equity
Units on [date], 2007 (the “Scheduled
Vesting Date”). Notwithstanding the foregoing in the event that:

 

(a)                                  a
Change of Control occurs at a time when Executive is employed by the Company,
Executive shall thereupon be deemed to have vested 100% into ownership of all
Restricted Equity Units immediately prior to such Change of Control (and such
Restricted Equity Units shall automatically convert to Vested Restricted Equity
Units hereunder); and

 

(b)                                 Executive’s
employment with the Company is terminated for any reason, Executive shall have
no right to further vesting of the Restricted Equity Units that are Unvested
Restricted Equity Units. Notwithstanding the foregoing, to the extent that
Executive was granted the Restricted Equity Units hereunder in exchange for
Executive waiving the unearned, contingent portion of the retention agreement
or sales bonus agreement entered into by Cendant Corporation and its Affiliates
(“Cendant”) with Executive, then such Restricted Equity Units will be subject
to further vesting in accordance with Section 3.4 hereof. 

 

3.2.                              Transfer Prohibited. Executive may not
sell, assign, transfer, pledge or otherwise encumber (or make any other
Disposition of) any Restricted Equity Units, except upon the death of Executive.
Upon any attempted Disposition in violation of this Section 3.2, the
Restricted Equity Units shall immediately become null and void.

 

3.3.                              Delivery of Class A-2 Interests.

 

(a)                                  No
Class A-2 Interest covered by a Restricted Equity Unit shall be delivered
to Executive until both (x) the Restricted Equity Unit becomes a Vested
Restricted 

 

3

 

Equity Unit and (y) each of the
following conditions precedent to delivery of such Class A-2 Interest
shall have been satisfied in full, as determined in the sole discretion of the
Board:

 

(i)                                     One
of the following events shall have occurred:

 

(A)                              a
Change in Control that also qualifies as a “change in the ownership or
effective control of a corporation, or a change in the ownership of a
substantial portion of the assets of a corporation” (as described in Code Section 409A
and related guidance (“Section 409A”))
in respect of the Partnership;  

 

(B)                                Executive’s
“separation from service” from the Partnership and its Subsidiaries (as
described in Section 409A);

 

(C)                                August 23,
2013, regardless of whether Executive is employed by the Company on such date;

 

(D)                               Executive’s
death or Disability (so long as such Disability qualifies as a “disability”
under Section 409A); or

 

(E)                                 if
permissible under Section 409A without the imposition of any additional
tax in respect of, or current taxation prior to actual delivery of, the Class A-2
Interests, the date that is 24 months following the occurrence of a Qualified
Public Offering.

 

(ii)                                  Executive
shall have paid to the Company such amount as may be requested by the
Partnership for purposes of depositing any federal, state or local income or
other taxes required by law to be withheld with respect to the delivery of the
Restricted Equity Units (provided that this condition may be satisfied if
Executive instead directs the Company to withhold Class A-2 Interests to
cover such required withholding amounts).

 

(iii)                               Executive
(or Executive’s estate or heirs) and, if applicable, the spouse of Executive
(or Executive’s estate or heirs) shall have executed and delivered to the
Partnership an Addendum Agreement pursuant to which Executive (or Executive’s
estate or heirs) shall have become a party to the Partnership Agreement and a Class A-2
Limited Partner.

 

3.4.                              Termination of Restricted Equity Units.
Unvested Restricted Equity Units shall be canceled if Executive’s employment
with the Company is terminated for any reason (including death or Disability), provided,
however, to the extent that Executive was granted the Restricted Equity Units
hereunder in exchange for Executive waiving the unearned, contingent portion of
the retention agreement or sales bonus agreement entered into by Cendant with
Executive, then Executive will be deemed to have vested 100% into ownership of
all Restricted Equity Units hereunder upon a termination of employment without
Cause, as a result of a Constructive Termination or as a result of Executive’s
death or Disability (and such Restricted Equity Units shall automatically
convert to Vested Restricted Equity Units hereunder).

 

4

 

3.5.                              Partnership Agreement. Executive
acknowledges receipt of a copy of the Partnership Agreement and represents that
Executive understands that (a) the terms of Class A-2 Interests are
set forth in, and governed by, the Partnership Agreement, (b) Executive
shall have no rights in respect of such Class A-2 Interests (including any
right to receive distributions under the Partnership Agreement) until the
Company delivers such Class A-2 Interests pursuant to the terms hereof and
Executive becomes a Class A-2 Limited Partner pursuant to the Partnership
Agreement and (c) the Partnership Agreement may be amended or
modified from time to time prior to Executive becoming a party thereto pursuant
to the terms of the Partnership Agreement. Notwithstanding the foregoing or
anything to the contrary in the Partnership Agreement, Class A-2 Interests
delivered pursuant to an Restricted Equity Unit granted pursuant to this
Agreement shall not be (i) forfeitable pursuant to Article XII of the
Partnership Agreement or (ii) subject to the mandatory purchase provisions
of or Article XII of the Partnership Agreement.

 

SECTION 4

DISTRIBUTION EQUIVALENT RIGHTS

 

4.1.                              Payments and Allocations upon Distributions.
If on any date while Restricted Equity Units are outstanding hereunder, the
Partnership shall make any distribution to holders of Class A Interests
pursuant to Article VIII of the Partnership Agreement, the Partnership
shall take the following actions: 

 

(a)                                  the
Partnership shall cause the Company to promptly pay Executive an amount, in
respect of each Vested Restricted Equity Unit, equal to the amount that would have
been payable in respect of the Class A-2 Interest underlying such Vested
Restricted Equity Unit if it were issued and outstanding on the date of such
distribution (such payment amount, the “Vested
Distribution Equivalent Payment”); and

 

(b)                                 the
Partnership shall cause the Company to allocate to a notional account for
Executive (the “Notional Account”)
an amount, in respect of each Unvested Restricted Equity Unit held hereunder,
equal to the amount that would have been payable in respect of the Class A-2
Interest underlying such Unvested Restricted Equity Unit if it were issued and
outstanding on the date of such distribution. 

 

4.2.                              Additional Payments upon Vesting. On
the date that the Unvested Restricted Equity Units held hereunder become Vested
Restricted Equity Units, Executive shall be entitled to receive an amount (such
amount, the “Unvested Distribution Equivalent Payment”
and, together with the Vested Distribution Equivalent Payment, the “Distribution Equivalent Payment”) equal to the balance of the
Notional Account. Upon payment of the Unvested Distribution Equivalent Payment,
the amount credited to the Notional Account shall be reduced thereby.

 

4.3.                              Adjustments to Hypothetical Capital Contribution.
Upon payment of any Distribution Equivalent Payment, the hypothetical Capital
Contribution associated with Class A-2 Interests issued pursuant to the
Restricted Equity Units shall be reduced by such Distribution Equivalent
Payment (until such hypothetical amount shall equal zero, at which point it shall
not be further reduced).

 

5

 

4.4.                              Withholding. The Partnership and
the Company shall have the right and is hereby authorized to withhold from any
Distribution Equivalent Payment the amount of any applicable withholding taxes
in respect of such payment and to take such action as may be necessary in
the opinion of the Partnership or the Company to satisfy all obligations for
the payment of such taxes. Notwithstanding the foregoing, the Partnership
shall, or shall cause one its Subsidiaries to, “gross-up” Executive for any
FICA/medicare withholding taxes that will be payable in respect of the vesting
of Restricted Equity Units (to the extent such taxes would not otherwise have
been payable by Executive during the applicable fiscal year absent such
vesting).

 

SECTION 5

NON-COMPETITION AND CONFIDENTIALITY

 

5.1.                              Non-Competition.

 

(a)                                  From
the date hereof while employed by the Company and for a [one][two](1)-year
period following the date Executive ceases to be employed by the Company (the “Restricted
Period”), irrespective of the cause, manner or time of any termination,
Executive shall not use his status with any Company or any of its Affiliates to
obtain loans, goods or services from another organization on terms that would
not be available to him in the absence of his relationship to the Company or
any of its Affiliates.

 

(b)                                 During
the Restricted Period, Executive shall not make any statements or perform any
acts intended to or which may have the effect of advancing the interest of
any Competitors of the Company or any of its Affiliates or in any way injuring
the interests of the Company or any of its Affiliates and the Company and its
Affiliates shall not make or authorize any person to make any statement that would
in any way injure the personal or business reputation or interests of
Executive; provided however, that, subject to Section 5.2, nothing herein
shall preclude the Company and its Affiliates or Executive from giving truthful
testimony under oath in response to a subpoena or other lawful process or
truthful answers in response to questions from a government investigation;
provided, further, however, that nothing herein shall prohibit the Company and
its Affiliates from disclosing the fact of any termination of Executive’s
employment or the circumstances for such a termination. For purposes of this Section 5.1(b),
the term “Competitor” means any enterprise or business that is engaged in, or
has plans to engage in, at any time during the Restricted Period, any activity
that competes with the businesses conducted during or at the termination of
Executive’s employment, or then proposed to be conducted, by the Company and
its Affiliates in a manner that is or would be material in relation to the
businesses of the Company or the prospects for the businesses of the Company
(in each case, within 100 miles of any geographical area where the Company or
its Affiliates manufactures, produces, sells, leases, rents, licenses or
otherwise provides its products or services). During the Restricted Period,
Executive, without prior express written approval by the Board, shall not (A) engage
in, or directly or indirectly (whether for compensation or otherwise) manage,
operate, or control, or join or participate in the management, operation or
control of a Competitor, in any capacity (whether as an employee, officer,
director, partner, consultant, agent, 

 

(1) SLT will be subject to a
two-year period.

 

6

 

advisor, or otherwise) or (B) develop,
expand or promote, or assist in the development, expansion or promotion of, any
division of an enterprise or the business intended to become a Competitor at
any time after the end of the Restricted Period or (C) own or hold a
Proprietary Interest in, or directly furnish any capital to, any Competitor of
the Company. Executive acknowledges that the Company’s and its Affiliates
businesses are conducted nationally and internationally and agrees that the
provisions in the foregoing sentence shall operate throughout the United States
and the world (subject to the definition of “Competitor”).

 

(c)                                  During
the Restricted Period, Executive, without express prior written approval from
the Board, shall not solicit any members or the then current clients of the
Company or any of its Affiliates for any existing business of the Company or
any of its Affiliates or discuss with any employee of the Company or any of its
Affiliates information or operations of any business intended to compete with
the Company or any of its Affiliates.

 

(d)                                 During
the Restricted Period, Executive shall not interfere with the employees or
affairs of the Company or any of its Affiliates or solicit or induce any person
who is an employee of the Company or any of its Affiliates to terminate any
relationship such person may have with the Company or any of its
Affiliates, nor shall Executive during such period directly or indirectly
engage, employ or compensate, or cause or permit any Person with which
Executive may be Affiliated, to engage, employ or compensate, any employee
of the Company or any of its Affiliates.

 

(e)                                  For
the purposes of this Agreement, “Proprietary Interest” means any legal,
equitable or other ownership, whether through stock holding or otherwise, of an
interest in a business, firm or entity; provided, that ownership of less than
5% of any class of equity interest in a publicly held company shall not be
deemed a Proprietary Interest.

 

(f)                                    The
period of time during which the provisions of this Section 5.1 shall be in
effect shall be extended by the length of time during which Executive is in
breach of the terms hereof as determined by any court of competent jurisdiction
on the Company’s application for injunctive relief.

 

(g)                                 Executive
agrees that the restrictions contained in this Section 5.1 are an
essential element of the compensation Executive is granted hereunder and but
for Executive’s agreement to comply with such restrictions, the Company would
not have entered into this Agreement.

 

(h)                                 It
is expressly understood and agreed that although Executive and the Company
consider the restrictions contained in this Section 5.1 to be reasonable,
if a final judicial determination is made by a court of competent jurisdiction
that the time or territory or any other restriction contained in this Agreement
is an unenforceable restriction against Executive, the provisions of this
Agreement shall not be rendered void but shall be deemed amended to apply as to
such maximum time and territory and to such maximum extent as such court may judicially
determine or indicate to be enforceable. Alternatively, if any court of
competent jurisdiction finds that any restriction contained in this Agreement
is unenforceable, and such restriction cannot be amended so as to make it
enforceable, such finding shall not affect the enforceability of any of the
other restrictions contained herein.

 

7

 

5.2.                              Confidentiality. 

 

(a)                                  Executive
will not at any time (whether during or after Executive’s employment with the
Company) (x) retain or use for the benefit, purposes or account of Executive or
any other Person; or (y) disclose, divulge, reveal, communicate, share,
transfer or provide access to any Person outside the Company (other than its
professional advisers who are bound by confidentiality obligations), any
non-public, proprietary or confidential information (including without
limitation trade secrets, know-how, research and development, software,
databases, inventions, processes, formulae, technology, designs and other
intellectual property, information concerning finances, investments, profits,
pricing, costs, products, services, vendors, customers, clients, partners,
investors, personnel, compensation, recruiting, training, advertising, sales,
marketing, promotions, government and regulatory activities and approvals)
concerning the past, current or future business, activities and operations of
the Company or its Affiliates and/or any third party that has disclosed or
provided any of same to the Company on a confidential basis (“Confidential
Information”) without the prior written authorization of the Board.

 

(b)                                 “Confidential
Information” shall not include any information that is (i) generally known
to the industry or the public other than as a result of Executive’s breach of
this covenant or any breach of other confidentiality obligations by third
parties; (ii) made legitimately available to Executive by a third party
without breach of any confidentiality obligation; or (iii) required by law
to be disclosed; provided that Executive shall give prompt written
notice to the Company of such requirement, disclose no more information than is
so required, and cooperate, at the Company’s cost, with any attempts by the
Company to obtain a protective order or similar treatment.

 

(c)                                  Except
as required by law, Executive will not disclose to anyone, other than Executive’s
immediate family and legal or financial advisors, the existence or contents of
this Agreement (unless this Agreement shall be publicly available as a result
of a regulatory filing made by the Company or its Affiliates); provided
that Executive may disclose to any prospective future employer the
provisions of Section 5 of this Agreement provided they agree to maintain
the confidentiality of such terms.

 

(d)                                 Upon
termination of Executive’s employment with the Company for any reason,
Executive shall (x) cease and not thereafter commence use of any Confidential
Information or intellectual property (including without limitation, any patent,
invention, copyright, trade secret, trademark, trade name, logo, domain name or
other source indicator) owned or used by the Company or its Affiliates; (y)
immediately destroy, delete, or return to the Company, at the Company’s option,
all originals and copies in any form or medium (including memoranda,
books, papers, plans, computer files, letters and other data) in Executive’s
possession or control (including any of the foregoing stored or located in
Executive’s office, home, laptop or other computer, whether or not Company property)
that contain Confidential Information or otherwise relate to the business of
the Company and its Affiliates, except that Executive may retain only
those portions of any personal notes, notebooks and diaries that do not contain
any Confidential Information; and (z) notify and fully cooperate with the
Company regarding the delivery or destruction of any other Confidential
Information of which Executive is or becomes aware.  

 

8

 

5.3.                              Intellectual Property.   

 

(a)                                  If
Executive has created, invented, designed, developed, contributed to or
improved any works of authorship, inventions, intellectual property, materials,
documents or other work product (including without limitation, research,
reports, software, databases, systems, applications, presentations, textual
works, content, or audiovisual materials) (“Works”), either alone or with third
parties, prior to Executive’s employment by the Company, that are relevant to
or implicated by such employment (“Prior Works”), Executive hereby grants the
Company a perpetual, non-exclusive, royalty-free, worldwide, assignable,
sublicensable license under all rights and intellectual property rights
(including rights under patent, industrial property, copyright, trademark,
trade secret, unfair competition and related laws) therein for all purposes in
connection with the Company’s current and future business. 

 

(b)                                 If
Executive creates, invents, designs, develops, contributes to or improves any
Works, either alone or with third parties, at any time during Executive’s
employment by the Company and within the scope of such employment and/or with
the use of any the Company resources (“Company Works”), Executive shall
promptly and fully disclose same to the Company and hereby irrevocably assigns,
transfers and conveys, to the maximum extent permitted by applicable law, all
rights and intellectual property rights therein (including rights under patent,
industrial property, copyright, trademark, trade secret, unfair competition and
related laws) to the Company to the extent ownership of any such rights does
not vest originally in the Company. 

 

(c)                                  Executive
agrees to keep and maintain adequate and current written records (in the form of
notes, sketches, drawings, and any other form or media requested by the
Company) of all Company Works. The records will be available to and remain the
sole property and intellectual property of the Company at all times.

 

(d)                                 Executive
shall take all requested actions and execute all requested documents (including
any licenses or assignments required by a government contract) at the Company’s
expense (but without further remuneration) to assist the Company in validating,
maintaining, protecting, enforcing, perfecting, recording, patenting or registering
any of the Company’s rights in the Prior Works and Company Works. If the
Company is unable for any other reason to secure Executive’s signature on any
document for this purpose, then Executive hereby irrevocably designates and
appoints the Company and its duly authorized officers and agents as Executive’s
agent and attorney in fact, to act for and in Executive’s behalf and stead to
execute any documents and to do all other lawfully permitted acts in connection
with the foregoing.

 

(e)                                  Executive
shall not improperly use for the benefit of, bring to any premises of, divulge,
disclose, communicate, reveal, transfer or provide access to, or share with the
Company any confidential, proprietary or non-public information or intellectual
property relating to a former employer or other third party without the prior
written permission of such third party. Executive hereby indemnifies, holds
harmless and agrees to defend the Company and its officers, directors,
partners, employees, agents and representatives from any breach of the
foregoing covenant. Executive shall comply with all relevant policies and
guidelines of the Company, including regarding the protection of confidential
information and intellectual 

 

9

 

property and potential conflicts of interest.
Executive acknowledges that the Company may amend any such policies and
guidelines from time to time, and that Executive remains at all times bound by
their most current version. 

 

5.4.                              Specific Performance. Executive
acknowledges and agrees that the Partnership’s remedies at law for a breach or
threatened breach of any of the provisions of this Section 5 would be
inadequate and the Partnership would suffer irreparable damages as a result of
such breach or threatened breach. In recognition of this fact, Executive agrees
that, in the event of such a breach or threatened breach, in addition to any
remedies at law, the Partnership, without posting any bond, shall be entitled
to cease making any payments or providing any benefit otherwise required by
this Agreement and obtain equitable relief in the form of specific
performance, temporary restraining order, temporary or permanent injunction or
any other equitable remedy which may then be available. Without limiting
the generality of the foregoing, neither party shall oppose any motion the
other party may make for any expedited discovery or hearing in connection
with any alleged breach of this Section 5.

 

5.5.                              Survival. The provisions of this Section 5
shall survive the termination of Executive’s employment for any reason.

 

SECTION 6

MISCELLANEOUS

 

6.1.                              Tax Issues. THE ISSUANCE OF THE
RESTRICTED EQUITY UNITS TO EXECUTIVE AND/OR THE DELIVERY OF THE CLASS A-2
INTERESTS PURSUANT TO THIS AGREEMENT INVOLVES COMPLEX AND SUBSTANTIAL TAX
CONSIDERATIONS. EXECUTIVE ACKNOWLEDGES THAT HE HAS CONSULTED HIS OWN TAX
ADVISOR WITH RESPECT TO THE TRANSACTIONS DESCRIBED IN THIS AGREEMENT. THE COMPANY MAKES NO WARRANTIES OR REPRESENTATIONS
WHATSOEVER TO EXECUTIVE REGARDING THE TAX CONSEQUENCES OF EXECUTIVE’S RECEIPT
OF THE RESTRICTED EQUITY UNITS AND/OR CLASS A-2 INTERESTS OR THIS
AGREEMENT. EXECUTIVE ACKNOWLEDGES AND AGREES THAT EXECUTIVE
SHALL BE SOLELY RESPONSIBLE FOR ANY TAXES ON THE RESTRICTED EQUITY UNITS AND
SHALL HOLD THE COMPANY, ITS OFFICERS, DIRECTORS AND EMPLOYEES HARMLESS FROM ANY
LIABILITY ARISING FROM ANY TAXES INCURRED BY EXECUTIVE IN CONNECTION WITH THE
RESTRICTED EQUITY UNITS.

 

6.2.                              Compliance with IRC Section 409A. Notwithstanding
anything herein to the contrary, (i) if at the time Executive is a “specified
employee” as defined in Section 409A and the deferral of the commencement
of any payments or benefits otherwise payable hereunder is necessary in order
to prevent any accelerated or additional tax under Section 409A, then the Company
will defer the commencement of the payment of any such payments or benefits
hereunder (without any reduction in such payments or benefits ultimately paid
or provided to Executive) until the date that is six months following Executive’s
termination of employment with the Company (or the earliest date as is
permitted under Section 409A) and (ii) if any other payments of money
or other benefits due to Executive hereunder could cause the application of 

 

10

 

an
accelerated or additional tax under Section 409A, such payments or other
benefits shall be deferred if deferral will make such payment or other benefits
compliant under Section 409A, or otherwise such payment or other benefits
shall be restructured, to the extent possible, in a manner, determined by the
Board, that does not cause such an accelerated or additional tax. The Company
shall consult with Executive in good faith regarding the implementation of the
provisions of this Section 6.2; provided that neither the Company nor any
of its employees or representatives shall have any liability to Executive with
respect to thereto.

 

6.3.                              Employment of Executive. Executive
acknowledges that he is employed by the Partnership or its Affiliates subject
to the terms of his employment agreement with the Partnership (if any). Any
change of Executive’s duties as an employee of the Company shall not result in
a modification of the terms of this Agreement.

 

6.4.                              Equitable Adjustments. Notwithstanding
any other provisions in this Agreement, the Partnership Agreement or the Plan
to the contrary, in the event of any change in the outstanding Interests after
the date hereof by reason of any equity dividend or split, reorganization,
recapitalization, merger, consolidation, spin-off, combination, combination or
transaction or exchange of Interests or other corporate exchange, or any
distribution to Partners of equity or cash (other than regular cash
distributions) or any transaction similar to the foregoing (regardless of whether
outstanding Interests are changed) (collectively, “Adjustment
Events”), the General Partner in its sole discretion and without
liability to any Person shall make such substitution or adjustment, if any, as
it deems to be equitable (taking into consideration such matters, without
limitation, as relative value of each class of Interests and the
Restricted Equity Units, status of vesting and the nature of the Adjustment
Event and its impact on the Interests and the Restricted Equity Units) to the
Management Limited Partners as a group, as to (i) the number or kind of
Interests or other securities issued or reserved for issuance under the
Partnership Agreement in respect of Restricted Equity Units, (ii) the
vesting terms under this Agreement, (iii) the distribution priorities
contained in the Partnership Agreement and/or (iv) any other affected
terms hereunder.

 

6.5.                              Calculation of Benefits. Neither the
Restricted Equity Units nor the Class A-2 Interests shall be deemed
compensation for purposes of computing benefits or contributions under any
retirement plan of the Company and shall not affect any benefits, or
contributions to benefits, under any other benefit plan of any kind now or
subsequently in effect under which the availability or amount of benefits or
contributions is related to level of compensation.

 

6.6.                              Setoff. The Partnership’s obligation to
pay Executive the amounts provided and to make the arrangements provided
hereunder and under the Partnership Agreement shall be subject to set off,
counterclaim or recoupment of amounts owed by such Executive (or any Affiliate
of such Executive (or any of its Relatives) that is Controlled by such
Executive (or any of its Relatives)) to the Partnership or its Affiliates
(including without limitation amounts owed pursuant to the Partnership
Agreement).

 

6.7.                              Remedies.

 

(a)                                  The
rights and remedies provided by this Agreement are cumulative and the use of
any one right or remedy by any party shall not preclude or waive its right to
use any or 

 

11

 

all other remedies. These rights and remedies
are given in addition to any other rights the parties may have at law or
in equity.

 

(b)                                 Except
where a time period is otherwise specified, no delay on the part of any
party in the exercise of any right, power, privilege or remedy hereunder shall
operate as a waiver thereof, nor shall any exercise or partial exercise of any
such right, power, privilege or remedy preclude any further exercise thereof or
the exercise of any right, power, privilege or remedy.

 

6.8.                              Waivers and Amendments. The respective
rights and obligations of the Partnership and Executive under this Agreement may be
waived (either generally or in a particular instance, either retroactively or
prospectively, and either for a specified period of time or indefinitely) by
such respective party. This Agreement may be amended only with the written
consent of a duly authorized representative of the Partnership and Executive.

 

6.9.                              Governing Law. This Agreement shall be
governed by and construed in accordance with the laws of the State of New York.

 

6.10.                        CONSENT TO JURISDICTION.

 

(a)                                  EACH OF THE PARTIES HERETO HEREBY CONSENTS TO THE
EXCLUSIVE JURISDICTION OF ALL STATE AND FEDERAL COURTS LOCATED IN THE STATE OF
NEW YORK, AS WELL AS TO THE JURISDICTION OF ALL COURTS TO WHICH AN APPEAL MAY BE
TAKEN FROM SUCH COURTS, FOR THE PURPOSE OF ANY SUIT, ACTION OR OTHER PROCEEDING
ARISING OUT OF, OR IN CONNECTION WITH, THIS AGREEMENT OR ANY OF THE
TRANSACTIONS CONTEMPLATED HEREBY, INCLUDING, WITHOUT LIMITATION, ANY PROCEEDING
RELATING TO ANCILLARY MEASURES IN AID OF ARBITRATION, PROVISIONAL REMEDIES AND
INTERIM RELIEF, OR ANY PROCEEDING TO ENFORCE ANY ARBITRAL DECISION OR AWARD. EACH
PARTY HEREBY EXPRESSLY WAIVES ANY AND ALL RIGHTS TO BRING ANY SUIT, ACTION OR
OTHER PROCEEDING IN OR BEFORE ANY COURT OR TRIBUNAL OTHER THAN THE COURTS
DESCRIBED ABOVE AND COVENANTS THAT IT SHALL NOT SEEK IN ANY MANNER TO RESOLVE
ANY DISPUTE OTHER THAN AS SET FORTH IN THIS SECTION 6.10 OR TO CHALLENGE
OR SET ASIDE ANY DECISION, AWARD OR JUDGMENT OBTAINED IN ACCORDANCE WITH THE
PROVISIONS HEREOF.

 

(b)                                 EACH OF THE PARTIES HERETO HEREBY EXPRESSLY WAIVES ANY
AND ALL OBJECTIONS IT MAY HAVE TO VENUE, INCLUDING, WITHOUT LIMITATION,
THE INCONVENIENCE OF SUCH FORUM, IN ANY OF SUCH COURTS. IN ADDITION, EACH OF
THE PARTIES CONSENTS TO THE SERVICE OF PROCESS BY PERSONAL SERVICE OR ANY
MANNER IN WHICH NOTICES MAY BE DELIVERED HEREUNDER IN ACCORDANCE WITH SECTION 6.14
OF THIS AGREEMENT.

 

12

 

6.11.                        Waiver of Jury Trial. EACH OF THE
PARTIES HERETO HEREBY VOLUNTARILY AND IRREVOCABLY WAIVES TRIAL BY JURY IN ANY
ACTION OR OTHER PROCEEDING BROUGHT IN CONNECTION WITH THIS AGREEMENT, ANY OF
THE OTHER DOCUMENTS OR ANY OF THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY.

 

6.12.                        Successors and Assigns. Except as
otherwise expressly provided herein, the provisions hereof shall inure to the
benefit of, and be binding upon, the successors, assigns, heirs, executors and
administrators of the parties hereto.

 

6.13.                        Entire Agreement. This Agreement and
the Other Documents constitute the full and entire understanding and agreement
of the parties with regard to the subjects hereof and supersedes in their
entirety all other prior agreements, whether oral or written, with respect
thereto. This
Agreement supersedes all prior agreements and understandings (including verbal
agreements) between Executive and the Company regarding grants of equity,
equity-based or equity-related rights or instruments in any Company (including,
for the avoidance of doubt, any rights promised by Cendant Corporation or its
Affiliates in respect of any Company, except other agreements entered into on
the date hereof with respect to limited partnership interests in the
Partnership.

 

6.14.                        Notices. All demands, notices,
requests, consents and other communications required or permitted under this
Agreement shall be in writing and shall be personally delivered or sent by
facsimile machine (with a confirmation copy sent by one of the other methods
authorized in this Section 6.14),
reputable commercial overnight delivery service (including Federal Express and
U.S. Postal Service overnight delivery service) or, deposited with the U.S.
Postal Service mailed first class, registered or certified mail, postage
prepaid, as set forth below:

 

If to the Partnership, addressed to:

 

TDS Investor
(Cayman) L.P.

c/o Travelport Inc.

9 West 57th Street

New York, NY 10019

Attention:  Eric Bock, General Counsel

Fax:  (212) 413-1922

 

with a copy which shall not constitute notice to:

 

The Blackstone
Group

345 Park Avenue

New York, New York 10154

Attention: Chip Schorr

Fax: +1 212 583 5712

 

13

 

with a copy which shall not constitute notice to:

 

Simpson
Thacher & Bartlett LLP

425 Lexington Ave.

New York, NY 10017

Attention:  William Curbow and Greg
Grogan

Fax:  (212) 455-2502

 

If to Executive, to the address set forth on the signature page of
this Agreement or at the current address listed in the Partnership’s records.

 

Notices shall be deemed given upon the earlier to occur of (i) receipt
by the party to whom such notice is directed; (ii) if sent by facsimile
machine, on the day (other than a Saturday, Sunday or legal holiday in the
jurisdiction to which such notice is directed) such notice is sent if sent (as
evidenced by the facsimile confirmed receipt) prior to 5:00 p.m. Eastern
Time and, if sent after 5:00 p.m. Eastern Time, on the day (other than a
Saturday, Sunday or legal holiday in the jurisdiction to which such notice is
directed) after which such notice is sent; (iii) on the first business day
(other than a Saturday, Sunday or legal holiday in the jurisdiction to which
such notice is directed) following the day the same is deposited with the
commercial courier if sent by commercial overnight delivery service; or (iv) the
fifth day (other than a Saturday, Sunday or legal holiday in the jurisdiction
to which such notice is directed) following deposit thereof with the U.S.
Postal Service as aforesaid. Each party, by notice duly given in accordance
therewith, may specify a different address for the giving of any notice
hereunder.

 

6.15.                        No Third Party Beneficiaries. There are
no third party beneficiaries of this Agreement.

 

6.16.                        Agreement Subject to Partnership Agreement and Plan.
By entering into this Agreement, Executive agrees and acknowledges that
Executive has received and read a copy of the Partnership Agreement and the
Plan and that the Restricted Equity Units are subject to the Partnership
Agreement and the Plan. The terms and provisions of the Partnership Agreement
and Plan as may be amended from time to time are hereby incorporated by
reference. In the event of a conflict between any term or provision contained
herein and a term or provision of the Partnership Agreement or the Plan, the
applicable terms and provisions of the Partnership Agreement or the Plan will
govern and prevail.

 

6.17.                        Severability; Titles and Subtitles; Gender;
Singular and Plural; Counterparts; Facsimile.

 

(a)                                  In
case any provision of this Agreement shall be invalid, illegal or
unenforceable, the validity, legality and enforceability of the remaining
provisions of this Agreement shall not in any way be affected or impaired
thereby.

 

(b)                                 The
titles of the sections and subsections of this Agreement are for convenience of
reference only and are not to be considered in construing this Agreement.

 

14

 

(c)                                  The
use of any gender in this Agreement shall be deemed to include the other
genders, and the use of the singular in this Agreement shall be deemed to
include the plural (and vice versa), wherever appropriate.

 

(d)                                 This
Agreement may be executed in any number of counterparts, each of which
shall be an original, but all of which together constitute one instrument.

 

(e)                                  Counterparts
of this Agreement (or applicable signature pages hereof) that are manually
signed and delivered by facsimile transmission shall be deemed to constitute
signed original counterparts hereof and shall bind the parties signing and
delivering in such manner.

 

15

 

IN WITNESS WHEREOF, the Partnership and Executive have executed this
Agreement as of the day and year first written above.

 

	
   

  	
  COMPANY:

  
	
   

  	
   

  
	
   

  	
  TDS
  Investor (Cayman) L.P.

  
	
   

  	
   

  
	
   

  	
  By:

  	
  TDS Investor (Cayman) GP Ltd.,

  
	
   

  	
   

  	
  its general partner

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  
	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  EXECUTIVE:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Name:

  
	
   

  	
  Address:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Telephone No.

  	
   

  	
   

  
	
   

  	
  Fax No.

  	
   

  	
   

  
	
   

  	
  Social Security No.: 

  	
   

  	
   

  
								

 

Number of Restricted Equity Units: [                ]

 

 

Exhibit A
–Interest Plan

 

(Distributed
Separately)

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00122-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00122-of-00352.parquet"}]]