Document:

Tenth Modification of Office Lease

 Exhibit 10.7 
  
 TENTH MODIFICATION OF OFFICE LEASE 
  
 THIS TENTH MODIFICATION OF OFFICE LEASE (this “Tenth Modification”) is entered into as of the
             day of             , 2004 (the “Effective Date”), by and between CRESCENT
REAL ESTATE FUNDING I, L.P., a Delaware limited partnership (“Landlord”), and WESTWOOD MANAGEMENT CORP., a New York corporation (“Tenant”). 
  
 RECITALS: 
  
 A. The Crescent, a Texas joint venture, predecessor-in-interest to Landlord,
and Tenant entered into that certain Office Lease dated April 9, 1990 (the “Original Lease”), covering certain space therein designated as Suite 1110, containing approximately 1,621 rentable square feet (the
“Original Premises”), located on the 11th floor of the 300 portion of the office building
commonly known as The Crescent®, and located at
100, 200 and 300 Crescent Court, Dallas, Dallas County, Texas (the “Office Building”). 
  
 B. The Original Lease has been amended by: (i) that certain First Modification of Office Lease dated September 11, 1991 (the “First
Modification”), pursuant to which the Original Premises were expanded to include an additional 1,783 rentable square feet to consist of a total of 3, 404 rentable square feet; (ii) that certain Second Modification of Office Lease dated
September 27, 1991 (the “Second Modification”), pursuant to which an error in the amount of the monthly installments of Basic Rental was corrected; (iii) that certain Third Modification of Office Lease dated October 5, 1994
(the “Third Modification”), pursuant to which Tenant relocated to Suite 1320, containing approximately 5,322 rentable square feet located in 300 Crescent Court, Dallas, Texas (the “New Premises”); (iv)
that certain Letter Agreement dated June 15, 1995 (the “Letter Agreement”), pursuant to which the term of the Original Lease was extended for an additional five (5) years, through and including March 31, 2000; (v) that
certain Fourth Modification of Office Lease dated April 26, 1996 (the “Fourth Modification”), pursuant to which the New Premises were expanded to include an additional 2,691 rentable square feet located at 200 Crescent Court,
Dallas, Texas (the “First Expansion Space”) and an additional 1,770 rentable square feet located in 300 Crescent Court, Dallas, Texas (the Second Expansion Space”) and the term of the Original Lease was
extended through June 30, 2001; (vi) that certain Fifth Modification of Office Lease dated May 30, 1996 (the “Fifth Modification”), pursuant to which the New Premises were expanded to include an additional 167 rentable square
feet located at 200 Crescent Court, Dallas, Texas (the “Third Expansion Space”); (vii) that certain Sixth Modification of Office Lease dated September 18, 1997 (the “Sixth Modification”), pursuant to
which the New Premises were expanded to include an additional 1,038 rentable square feet located at 200 Crescent Court, Dallas, Texas (the “Fourth Expansion Space”); (viii) that certain Seventh Modification of Office Lease
dated June 24, 1998 (the “Seventh Modification”), pursuant to which the New Premises were reduced by approximately 3,896 rentable square feet of space located at 200 Crescent Court, Dallas, Texas (the “Released
Space”) and expanded to include an additional 5,818 rentable square feet located on the thirteenth floor of 200 and 300 Crescent Court, Dallas, Texas (the “Fifth Expansion Space”); (ix) that certain Eighth
Modification of Office Lease dated September 21, 1998 (the “Eighth Modification”), pursuant to which the New Premises were expanded to include an additional 
  

 1 

 665 rentable square feet located on the thirteenth floor of 200 Crescent Court, Dallas, Texas (the “Sixth
Expansion Space”); and (x) that certain Ninth Modification of Office Lease dated November 25, 2003 (the “Ninth Modification”), pursuant to which the New Premises, together with the First Expansion Space, Second
Expansion Space, the Third Expansion Space, the Fourth Expansion Space, the Fifth Expansion Space, the Sixth Expansion Space and reduced by the Released Space were substituted with approximately 22,002 rentable square feet on the twelfth floor of
200 Crescent Court, Dallas, Texas (the “Substitution Space”). 
  
 C. The Original Lease, as modified by the First Modification, the Second Modification, the Third Modification, the Fourth Modification, the Fifth Modification, the Sixth Modification, the Seventh Modification, the
Eighth Modification and the Ninth Modification is hereinafter collectively referred to as the “Lease”. Unless otherwise expressly provided herein, capitalized terms used herein shall have the same meanings as designated in
the Lease. 
  
 D. Landlord and Tenant acknowledge that the
rentable square footage of the Substitution Space was incorrectly stated in the Ninth Modification. And as a result, Landlord and Tenant desire to amend and modify the Lease in certain respects as provided herein. 
  
 AGREEMENT: 
  
 In consideration of the sum of Ten and No/100 Dollars ($10.00), the mutual
covenants and agreements contained herein and in the Lease, and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, Landlord and Tenant hereby amend and modify the Lease as follows: 
  
 1. Premises. Effective as of the Substitution Space Commencement Date,
the number “22,002” on the second line of Section 2 of the Ninth Modification is hereby deleted and the number “21,587” is substituted in lieu thereof; and Exhibit A to the Ninth Modification is hereby deleted and
Exhibit A attached to this Tenth Modification is substituted in lieu thereof. From and after the Substitution Space Commencement Date, as pertaining to all matters in the Lease that vary based upon the rentable square footage of the Premises
(including but not limited to Tenant’s proportionate share and the Construction Allowance) shall be based upon 21,587 rentable square feet in the Premises. 
  

2. Basic Rental. Effective as of the Substitution Space Commencement Date, the Basic Rental schedule in Section 4 of the Ninth
Modification is hereby deleted and the following substituted in lieu thereof: 
  
 [REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK] 
  

 2 

							
	 LEASE MONTHS

	  	 ANNUAL BASIC
 RENTAL RATE PER
RENTABLE SQUARE
FOOT

	  	 MONTHLY
 BASE RENT

	 1-2
	  	$	0.00	  	$	0.00
	 3-12
	  	$	25.00	  	$	44,972.92
	 13-14
	  	$	0.00	  	$	0.00
	 15-24
	  	$	26.00	  	$	46,771.83
	 25-36
	  	$	27.00	  	$	48,570.75
	 37-48
	  	$	28.00	  	$	50,369.67
	 49-60
	  	$	29.00	  	$	52,168.58
	 61-72
	  	$	30.00	  	$	53,967.50
	 73-84
	  	$	31.00	  	$	55,766.42

  
 3. Broker.
Tenant represents and warrants that it has had no dealings with any real estate broker or agent in connection with this Tenth Modification, other than Paul Whitman with The Staubach Company (the “Broker”) whose commission
shall be paid, if any is due, by Landlord in accordance with a separate agreement between Landlord and Broker. Tenant shall indemnify, defend, and hold Landlord harmless from any and all claims, demands, losses, liabilities, lawsuits, judgments,
costs and expenses (including without limitation, attorneys’ fees and costs) with respect to any leasing commission or other compensation alleged to be owing on account of Tenant’s dealing with any real estate broker or agent other than
the Broker. 
  
 4. Time of the Essence. Time is of the
essence with respect to Tenant’s execution and delivery of this Tenth Modification. If Tenant fails to execute and deliver a signed copy of this Tenth Modification to Landlord by 5:00 p.m. (Dallas, Texas time), on February 27, 2004, it shall be
deemed null and void and shall have no force or effect, unless otherwise agreed in writing by Landlord. Landlord’s acceptance, execution and return of this document shall constitute Landlord’s agreement to waive Tenant’s failure to
meet the foregoing deadline. 
  
 5. Miscellaneous. This
Tenth Modification shall become effective only upon full execution and delivery of this Tenth Modification by Landlord and Tenant. This Tenth Modification contains the parties’ entire agreement regarding the subject matter covered by this Tenth
Modification, and supersedes all prior correspondence, negotiations, and agreements, if any, whether oral or written, between the parties concerning such subject matter. There are no contemporaneous oral agreements, and there are no representations
or warranties between the parties not contained in this Tenth Modification. Except as modified by this Tenth Modification, the terms and provisions of the Lease shall remain in full force and effect, and the Lease, as 
  

 3 

 modified by this Tenth Modification, shall be binding upon and shall inure to the benefit of the parties hereto, their
successors and permitted assigns. 
  
 EXECUTED as of the day and year first above
written. 
  
 LANDLORD: 
  
 CRESCENT REAL ESTATE FUNDING I, L.P., 
 a Delaware limited partnership 
  

			
	 
		
	By	 	 CRE Management I Corp.,

	 	 	 a Delaware corporation,
 its general partner

					
			
	 	 	By:	 	 
	 	 	 	 	

	 	 	 Name:
	 	 
	 	 	 Title:
	 	 

  
 TENANT: 
  
 WESTWOOD MANAGEMENT CORP., 
 a New York corporation 
  

			
	 
		
	By:	 	 
	 	 	

	Name:	 	 
	 	 	

	Title:	 	 
	 	 	

  
  
  

 4 

 EXHIBIT A 
  
 SUBSTITUTION SPACE 
 Revised 
  

 5Form of Indemnification Agreement for Westwood Holdings Group

 Exhibit 10.11 
  
 FORM OF INDEMNIFICATION AGREEMENT FOR 
  
 WESTWOOD HOLDINGS GROUP, INC. 
  

This Indemnification Agreement (this “Agreement”) dated as of
                                        ,
2002, is between Westwood Holdings Group, Inc., a Delaware corporation (the “Company”), and
                                        
(the “Indemnitee”), with reference to the following facts: 
  
 A. The Indemnitee is currently serving as an officer and/or director of the Company and the Company desires that the Indemnitee continue in such capacity. It is essential to the Company that it retain and attract as officers and/or
directors the most capable persons available. Both the Company and the Indemnitee recognize the increased risk of litigation and other claims being asserted against officers and directors of companies in today’s environment. 
  
 B. Section 145 of the General Corporation Law of the State of Delaware
(“Section 145”) empowers a corporation to indemnify a person serving as a director, officer, employee or agent of the corporation and a person who serves at the request of the corporation as a director, officer, employee or agent of
another corporation, partnership, joint venture, trust or other enterprise, and Section 145 and the bylaws of the Company specify that the indemnification set forth in Section 145 and in the bylaws, respectively, shall not be deemed exclusive of any
other rights to which those seeking indemnification may be entitled under any bylaw, agreement, vote of stockholders or disinterested directors or otherwise. 
  
 In order to induce the Indemnitee to continue to serve as an officer and/or director of the Company and in consideration of his or her continued service,
the Company hereby agrees to indemnify the Indemnitee as follows: 
  
 1. Indemnity. The Company shall indemnify the Indemnitee and his or her executors, administrators or assigns, for any Expenses (as defined below) that the Indemnitee is or becomes legally obligated to pay in connection with any
Proceeding. As used in this Agreement the term “Proceeding” shall include any threatened, pending or completed claim, action, suit, investigation or proceeding, whether brought by or in the right of the Company or otherwise and whether of
a civil, criminal, administrative or, investigative nature, in which the Indemnitee may be or may have been involved as a party, witness or otherwise, by reason of the fact that Indemnitee is or was an officer and/or director of the Company, by
reason of any actual or alleged error or misstatement or misleading statement made or suffered by the Indemnitee, by reason of any action taken by him or her or of any inaction on his or her part while acting as such officer and/or director, or by
reason of the fact that he or she was serving at the request of the Company as a director, trustee, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise; provided, however, that in
each such case, Indemnitee acted in good faith and in a manner which he or she reasonably believed to be in or not opposed to the best interests of the Company, and, in the case of a criminal proceeding, in addition had no reasonable cause to
believe that his or her conduct was unlawful. As used in this Agreement, the term “other enterprise” shall include (without limitation) employee benefit plans and administrative committees thereof, and the term “fines” shall
include (without limitation) any 

  

 
excise tax assessed with respect to any employee benefit plan. Any corporation, partnership, limited liability company or other entity on behalf of which
Indemnitee may be deemed to be acting in connection with his or her service to the Company shall be entitled to the benefits of the indemnity provided for by this Agreement to the same extent and under the same conditions upon which Indemnitee is
entitled to such indemnity. 
  
 2. Expenses. As used in
this Agreement, the term “Expenses” shall include, without limitation, damages, judgments, fines, penalties, settlements and costs, attorneys’ fees and disbursements and costs of attachment or similar bonds, investigations, and any
expenses of establishing a right to indemnification under this Agreement. 
  
 3. Enforcement. If a claim or request under this Agreement is not paid by the Company, or on its behalf, within 30 calendar days after a written claim or request has been received by the Company, then the
Indemnitee may at any time thereafter bring suit against the Company to recover the unpaid amount of the claim or request and if successful in whole or in part, the Indemnitee shall be entitled to be paid also the Expenses of prosecuting such suit.
The burden of proving that the Indemnitee is not entitled to indemnification for any reason shall be upon the Company. 
  
 4. Subrogation. Upon any payment under this Agreement, the Company shall be subrogated to the extent of such payment to all of the rights of
recovery of the Indemnitee, who shall execute all papers required and shall do everything that may be necessary to secure such rights, including the execution of such documents necessary to enable the Company effectively to bring suit to enforce
such rights. 
  
 5. Exclusions. The Company shall not be
liable under this Agreement to pay any Expenses in connection with any claim made against the Indemnitee: 
  
 (a) to the extent that payment is actually made to the Indemnitee under a valid, enforceable and collectible insurance policy; 

 
 (b) to the extent that the Indemnitee is indemnified and
actually paid otherwise than pursuant to this Agreement; 
  
 (c) in connection with a judicial action by or in the right of the Company, in respect of any claim, issue or matter as to which the Indemnitee shall have been adjudged to be liable to the Company unless and only to
the extent that any court in which such action was brought shall determine upon application that, despite the adjudication of liability but in view of all the circumstances of the case, the Indemnitee is fairly and reasonably entitled to indemnity
for such expenses as such court shall deem proper; 
  
 (d) if it is proved by final judgment in a court of law or other final adjudication to have been based upon or attributable to the Indemnitee’s in fact having gained any personal profit or advantage to which he or she was not legally
entitled; 
  
 (e) for a disgorgement of profits
made from the purchase and sale by the Indemnitee of securities pursuant to Section 16(b) of the Securities Exchange Act of 

  

 2 

 
1934, as amended, and amendments thereto or similar provisions of any state statutory law or common law; or 
  
 (f) for any judgment, fine or penalty which the Company is
prohibited by applicable law from paying. 
  
 6.
Indemnification of Expenses of Successful Party. Notwithstanding any other provision of this Agreement, to the extent that the Indemnitee has been successful on the merits or otherwise in defense of any Proceeding or in defense of any claim,
issue or matter therein, including dismissal without prejudice, Indemnitee shall be indemnified against any and all Expenses incurred in connection therewith. 
  

7. Partial Indemnification. If the Indemnitee is entitled under any provision of this Agreement to indemnification by the Company for some or a
portion of Expenses, but not, however, for the total amount thereof, the Company shall nevertheless indemnify the Indemnitee for the portion of such Expenses to which the Indemnitee is entitled. 
  
 8. Advance of Expenses. Expenses incurred by the Indemnitee in
connection with any Proceeding, except the amount of any settlement, shall be paid by the Company in advance upon request of the Indemnitee that the Company pay such expenses. The Indemnitee hereby undertakes to repay to the Company the amount of
any Expenses theretofore paid by the Company to the extent that it is, ultimately determined that such Expenses were not reasonable or that the Indemnitee is not entitled to indemnification. 
  
 9. Notice of Claim. The Indemnitee, as a condition precedent to his or
her right to be indemnified under this Agreement, shall give to the Company notice in writing as soon as practicable of any claim made against him or her for which indemnity will or could be sought under this Agreement, but a failure to give such
notice will affect the obligations of the Company hereunder only to the extent that the Company is actually and materially prejudiced thereby. Notice to the Company shall be given at its corporate headquarters and shall be directed to the corporate
secretary (or such other addressee as the Company shall designate in writing to the Indemnitee); notice shall be deemed received it sent by prepaid mail properly addressed, the date of such notice being the date postmarked. In addition, the
Indemnitee shall give the Company such information and cooperation as it may reasonably require in connection with such claim. 
  
 10. Counterparts. This Agreement may be executed in any number of counterparts, all of which taken together shall constitute one instrument.

  
 11. Indemnification Hereunder Not Exclusive. Nothing
herein shall be deemed to diminish or otherwise restrict the Indemnitee’s right to indemnification under any provision of the Certificate of Incorporation or bylaws of the Company and amendments thereto or under law. 
  
 12. Governing Law. This Agreement shall be governed by and construed
in accordance with Delaware law, without giving effect to the principles of conflict of laws thereof. 
  
 13. Saving Clause. Wherever there is conflict between any provision of this Agreement and any applicable present or future statute, law or
regulation contrary to which the Company and the Indemnitee have no legal right to contract, the latter shall prevail, but in such 

  

 3 

 
event the affected provisions of this Agreement shall be curtailed and restricted only to the extent necessary to bring them within applicable legal
requirements. 
  
 14. Coverage. The provisions of this
Agreement shall apply with respect to the Indemnitee’s service as an officer and/or director of the Company prior to the date of this Agreement and with respect to all periods of such service after the date of this Agreement, even though the
Indemnitee may have ceased to be an officer and/or director of the Company. 
  
 15. Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective heirs, legatees, legal representatives, successors and permitted assigns.

  

 4 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed and signed as of
the day and year first above written. 
  

			
	WESTWOOD HOLDINGS GROUP, INC.
		
	By:	 	 
	 	 	

		
	 Name:
	 	 
	 	 	

		
	 Title:
	 	 
	 	 	

	
	INDEMNITEE
	
	 
	

  

 5 

 The registrant has entered into this indemnification agreement with the following individuals:

  

	 	•	Susan M. Byrne 

  

	 	•	Brian O. Casey 

  

	 	•	Patricia R. Fraze 

  

	 	•	Joyce A. Schaer 

  

	 	•	William R. Hardcastle, Jr. 

  

	 	•	Frederick R. Meyer 

  

	 	•	Jon L. Mosle, Jr. 

  

	 	•	Raymond E. Wooldridge 

  

 6

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00061-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00061-of-00352.parquet"}]]