Document:

EX-10.2

 Exhibit 10.2 

AMERICAN INTERNATIONAL GROUP, INC. 

STOCK OPTION AWARD AGREEMENT 

1. Award of Stock Options. American International Group, Inc. (“AIG”) has awarded you stock options (the
“Awards”) to purchase 1,500,000 shares of Common Stock (“Shares”) with an exercise price equal to $●.1 This award agreement (“Award Agreement”), dated ●, 20172 (the “Date of Grant”), sets forth the terms and conditions of the Awards. Capitalized terms not defined in the Award
Agreement have the meanings ascribed to them in the American International Group, Inc. 2013 Omnibus Incentive Plan (the “Plan”). 

2. Vesting; Expiration. The Awards comprise five sets of stock options (the “Stock Options”) as follows: the
Time-Vesting Options, the $10 Performance Options, the $20 Performance Options, the $20 Inducement Options and the $30 Inducement Options. For purposes of this Award Agreement, the $10 Performance Options, the $20 Performance Options, the $20
Inducement Options and the $30 Inducement Options are collectively referred to as the “Performance Options.” Notwithstanding anything to the contrary in the Plan or herein, the Stock Options will expire and no longer be
exercisable as of ●, 20243 (the “Expiration Date”), subject
to earlier termination as provided in this Award Agreement, or otherwise in accordance with the Plan. 
 3. Awards. 

3.1 First Award. Stock Options to purchase 500,000 Shares (the “Time-Vesting Options”) will vest in equal,
annual installments on each of the first three anniversaries of the Date of Grant, such that 166,666 Time Options will vest on ●, 2018, 166,667 Time Options will vest on ●, 2019 and 166,667 Time Options will vest on ●, 2020. 

3.2 Second Award. Stock Options to purchase 300,000 Shares (the “$10 Performance Options”) will vest in
equal, annual installments on each of the first three anniversaries of the Date of Grant, or, if later, on the close of the twentieth consecutive trading day on the New York Stock Exchange on which the closing price of Common Stock is at least
$10.00 over $●4 (the “Reference Price”). 

3.3 Third Award. Stock Options to purchase 200,000 Shares (the “$20 Performance Options”) will vest on the
close of the twentieth consecutive trading day on the New York Stock Exchange on which the closing price of Common Stock is at least $20.00 over the Reference Price. 

3.4 Fourth Award. Stock Options to purchase 100,000 Shares (the “$20 Inducement Options”) will vest on the
close of the twentieth consecutive trading day on the New York Stock Exchange on which the closing price of Common Stock is at least $20.00 over the Reference Price. 

3.5 Fifth Award. Stock Options to purchase 400,000 Shares (the “$30 Inducement Options”) will vest on the
close of the twentieth consecutive trading day on the New York Stock Exchange on which the closing price of Common Stock is at least $30.00 over the Reference Price. 

 

	1 	Fair market value on the Date of Grant. 

	2 	Effective date of hire. 

	3 	Seventh anniversary of the Date of Grant. 

	4 	Closing stock price on day before public announcement of hire. 

 4. Vesting in the Event of Termination. 

4.1 Termination Generally. Except as otherwise provided in this Section 4, if your Employment terminates for any reason, vested
Stock Options will remain exercisable for 90 days following your date of termination (but in no case later than the Expiration Date) and any unvested Stock Options will immediately terminate and be forfeited. 

4.2 Termination for Cause. In the case of your termination of Employment by the Company for Cause, all Stock Options (whether vested or
unvested) will immediately terminate and be forfeited. For purposes of this Award Agreement, “Cause” has the meaning set forth in the American International Group, Inc. 2012 Executive Severance Plan (the
“ESP”), except that the procedure for determining Cause thereunder shall not apply. 
 4.3 Involuntary
Termination, Retirement or Disability. Subject to Section 4.4, in the case of your termination of Employment by the Company without Cause or by you for Good Reason, your death, Retirement or Disability, (i) any vested Stock Options
will remain exercisable for three years following your date of termination (or date of death or Disability, if applicable), (ii) any unvested Time-Vesting Options will immediately vest and remain exercisable for three years following your date
of termination (or date of death or Disability, as applicable), (iii) if unvested, the $10 Performance Options will be deemed to have attained the three-anniversary time-vesting requirement, and (iv) any unvested Performance Options will
continue to be eligible to vest (relative to the Reference Price, in the case of the $10 Performance Options) and become exercisable for three years following your date of termination (or date of death or Disability, as applicable), provided
that no Stock Options will remain exercisable beyond the Expiration Date. For purposes of this Award Agreement, (a) “Retirement” means a voluntary termination of Employment initiated by you (while you are in good
standing with the Company) on or after ●, 20205 (b) “Good Reason” has the meaning set forth in the Letter Agreement, dated May 14, 2017, between you and the
Company and (c) “Disability” has the meaning set forth in the ESP. 
 4.4 Release of Claims. In the case
of your termination of Employment by the Company without Cause or by you for Good Reason or your Retirement, as a condition to the treatment of outstanding Stock Options set forth in Section 4.3, you will be required to execute the ESP form of
release (the “Release”) modified to cover the treatment of outstanding Stock Options pursuant to Section 4.3, which Release will include, without limitation, a non-competition requirement for six months following your
date of termination. The Release must be executed by you and become irrevocable within 90 days of your Retirement, and you may not exercise any Stock Options prior to the effective date of the Release. 

5. Status of Awards. The Time-Vesting Options, the $10 Performance Options and the $20 Performance Options are granted pursuant to and
under the Plan. The $20 Inducement Options and the $30 Inducement Options are granted outside of the terms of the Plan, and the share reserve thereunder, as “employment inducement grants” within the meaning of NYSE Manual 303A.08 (the
“Inducement Grants”). Subject to the terms of this Award Agreement, the Awards will be subject to the terms and conditions of the Plan and the Inducement Grants will be governed as if they had been granted under the Plan.

  

	5 	Third anniversary of Date of Grant. 

  
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 6. Exercisability of Vested Options. Vested Options may be exercised in accordance with
procedures set forth in Section 2.3.5 of the Plan, including procedures established by AIG. Stock Options that are not vested may not be exercised. 

7. Non-Disclosure. During the term of your Employment, the Company has permitted and will continue to permit you to have access to and
become acquainted with information of a confidential, proprietary and/or trade secret nature. During your Employment and any time thereafter, you agree that (i) all confidential, proprietary and/or trade secret information received, obtained or
possessed at any time by you concerning or relating to the business, financial, operational, marketing, economic, accounting, tax or other affairs at the Company or any client, customer, agent or supplier or prospective client, customer, agent or
supplier of the Company will be treated by you in the strictest confidence and will not be disclosed or used by you in any manner other than in connection with the discharge of your job responsibilities without the prior written consent of the
Company or unless required by law, and (ii) you will not remove or destroy any confidential, proprietary and/or trade secret information and will return any such information in your possessions, custody or control at the end of your Employment
(or earlier if so requested by the Company). Nothing herein shall prevent you from making or publishing any truthful statement (a) when required by law, subpoena or court order, (b) in the course of any legal, arbitral or regulatory
proceeding, (c) to any governmental authority, regulatory agency or self-regulatory organization, or (d) in connection with any investigation by the Company. 

8. Non-Solicitation. Your Employment with the Company requires exposure to and use of confidential, proprietary and/or trade secret
information (as set forth in Paragraph 7). You agree that (i) during your Employment with the Company and any time thereafter, you will not, directly or indirectly, on your own behalf or on behalf of any other person or entity, solicit,
contact, call upon, communicate with or attempt to communicate with any customer or client or prospective customer or client of the Company where to do so would require the use or disclosure of confidential, proprietary and/or trade secret
information, and (ii) during your Employment with the Company and for a period of one (1) year after Employment terminates for any reason, you will not, directly or indirectly, regardless of who initiates the communication, solicit,
participate in the solicitation or recruitment of, or in any manner encourage or provide assistance to any employee, consultant, registered representative, or agent of the Company to terminate his or her Employment or other relationship with the
Company or to leave its employ or other relationship with the Company for any engagement in any capacity or any other person or entity. 

9. Non-Disparagement. You agree that during and after your Employment with the Company, you will not make disparaging comments about
AIG or any of its subsidiaries or affiliates or any of their officers, directors or employees to any person or entity not affiliated with the Company. Nothing herein shall prevent you from making or publishing any truthful statement (a) when
required by law, subpoena or court order, (b) in the course of any legal, arbitral or regulatory proceeding, (c) to any governmental authority, regulatory agency or self-regulatory organization, or (d) in connection with any
investigation by AIG. 

  
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 10. Notice of Termination of Employment. Except where local law prohibits enforcement, you
agree that if you voluntarily resign you will give at least six months’ written notice to the Company of your voluntary Termination, which may be working notice or non-working notice at the Company’s sole discretion and which notice
period is waivable by the Company at the Company’s sole discretion. 
 11. Clawback/Repayment. Notwithstanding anything to the
contrary contained herein, in consideration of the grant of this award, you agree that this award and any payments hereunder will be subject to forfeiture and/or repayment to the extent provided for in the AIG Clawback Policy, as in effect from time
to time, if it is determined in accordance with the policy that a Covered Event (as defined in such policy) has occurred. 
 12. Entire
Agreement. The Plan is incorporated herein by reference. This Award Agreement and the Plan constitute the entire agreement and understanding of the parties hereto with respect to the subject matter hereof and supersede all prior understandings
and agreements with respect to such subject matter. 
 13. Notices. Any notice or communication required to be given or delivered to
AIG under the terms of this Award Agreement will be in writing (which may include an electronic writing) and addressed to the Corporate Secretary of AIG at its principal corporate offices as specified in Section 9E of the Plan or, with respect
to the acceptance of an Award, as specified in Schedule A or the Compensation Plan Grant Acceptance website. Any notice required to be given or delivered to you will be in writing (including an electronic writing) and addressed to you at your AIG
email address or your home address on file in AIG’s payroll or personnel records. All notices will be deemed to have been given or delivered upon: personal delivery; electronic delivery or three (3) business days after deposit in the United
States mail by certified or registered mail (return receipt requested) or one (1) business day after deposit with any return receipt express courier (prepaid). 

14. Governing Law. This Award Agreement will be governed by and construed in accordance with the laws of the State of New York, without
regard to principles of conflict of laws. 
 15. Signatures. Execution of this Award Agreement by the Company and/or you may
be in the form of an electronic, manual or similar signature, and such signature shall be treated as an original signature for all purposes. 

  
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 IN WITNESS WHEREOF, AMERICAN INTERNATIONAL GROUP, INC. has caused this Award Agreement to be duly
executed and delivered as of the date hereof. 
  

			
	AMERICAN INTERNATIONAL GROUP, INC.
		
	By:	 	 
		 	 W. Don Cornwell
 Chair, Compensation and
Management Resources Committee

 By your signature, you (i) acknowledge that a complete copy of this Award Agreement and the Plan
have been made available to you and (ii) agree to all of the terms and conditions set forth in this Award Agreement and the Plan. 
  

	
	
	   

	Brian Duperreault

  
 -5-Exhibit

THIRD AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT
This THIRD AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT (this “Amendment”), dated as of May 12, 2017, is made by and among GLOBAL BROKERAGE HOLDINGS, LLC (f/k/a FXCM Holdings, LLC), a Delaware limited liability company (the “Company”), FXCM Group, LLC (f/k/a FXCM Newco, LLC), a Delaware limited liability company (“Newco” and, together with the Company, on a joint and several basis as borrowers, shall be referred to herein collectively as the “Borrower”), each of the other Loan Parties listed on the signature pages hereto, each Lender that is a party hereto (collectively, the “Consenting Lenders”) and LEUCADIA NATIONAL CORPORATION, as administrative agent (in such capacity, the “Administrative Agent”).
RECITALS:
WHEREAS, the Company, Newco, the lenders party thereto and the Administrative Agent are parties to that certain Amended and Restated Credit Agreement, dated as of January 24, 2015, as amended from time to time prior to the date hereof (the “Credit Agreement”);
WHEREAS, capitalized terms used but not defined herein (including in the preamble and recitals) shall have the same meanings specified in the Credit Agreement);
WHEREAS, the Borrower and the Consenting Lenders have entered into the Consent and Waiver, dated the date hereof (the “Restructuring Consent”);
WHEREAS, in consideration for the Consenting Lenders agreement to enter into the Restructuring Consent, the Borrower has agreed to pay to the Consenting Lenders a fee in an amount equal to the total amount of each Payment (as defined in the Restructuring Consent) (each, a “Restructuring Consent Fee”);
WHEREAS, in order to pay each Restructuring Consent Fee, the Borrower will be deemed to have requested, and the Lenders will be deemed to have agreed, that the aggregate principal outstanding balance of the Loans be increased by an amount equal to the amount of such Restructuring Consent Fee; 
WHEREAS, the Borrower has requested that the Consenting Lenders agree to amend the Credit Agreement as set forth herein; and
WHEREAS, the Consenting Lenders have agreed to such amendments on the terms and subject to the conditions set forth herein;
NOW, THEREFORE, in consideration of the foregoing and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows:

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AGREEMENT:
SECTION 1.Amendments to Credit Agreement.
(a)Section 1.01 of the Credit Agreement is hereby amended by inserting the following new definitions in appropriate alphabetical order:

“Payment” has the meaning ascribed to such term in the Restructuring Consent.

“Restructuring Consent” has the meaning ascribed to such term in the Third Amendment to Credit Agreement.

“Restructuring Consent Fee” has the meaning ascribed to such term in the Third Amendment to Credit Agreement.

“Third Amendment to Credit Agreement” means the Third Amendment to Amended and Restated Credit Agreement, dated as of May 12, 2017, by and among the Borrower, the Lenders party thereto and the Administrative Agent.

“Third Amendment Effective Date” means the “Effective Date” as defined in the Third Amendment to Credit Agreement.

(b)    Section 2.01 of the Credit Agreement is hereby amended and restated to read in its entirety as follows:

“On the Closing Date, each Lender severally agreed to make loans to the Borrower in an aggregate amount not to exceed the amount of such Lender’s Commitment (each, a “Closing Date Loan”). In addition, on the Second Amendment Effective Date, each Lender was deemed to have made a loan to the Borrower in a principal amount equal to its Applicable Percentage of $3,500,000 (each, a “Second Amendment Effective Date Loan”). Furthermore, on each date on which a Payment is made, each Lender shall be deemed to have made a loan to the Borrower in a principal amount equal to its Applicable Percentage of the total amount of such Payment (each, a “Restructuring Payment Loan”), and the aggregate principal amount of the Loans outstanding on such date shall be deemed to be increased by the amount of each such Restructuring Payment Loan. The Closing Date Loans, together with the Second Amendment Effective Date Loans and the Restructuring Payment Loans, are each referred to, individually, as a “Loan” and collectively as the “Loans.” As of the Third Amendment Effective Date, the aggregate outstanding principal amount of all Loans (after giving effect to the deemed making of any Restructuring Payment Loans as of such time), equals $121,696,236.  Amounts borrowed (or deemed borrowed) under this Section 2.01 and subsequently repaid or prepaid may not be reborrowed.

(c)    Section 2.07 of the Credit Agreement is hereby amended by adding the following sentence after the second sentence of such section:

“Furthermore, on the date on which each Payment is made, in consideration for the agreement of the Lenders to execute and deliver the Restructuring Consent and to permit such Payment thereunder, the Borrower hereby agrees to pay the applicable Restructuring Consent Fee, 

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which Restructuring Consent Fee shall be deemed to be paid with the proceeds of the Restructuring Payment Loans deemed made on the date of such Payment pursuant to Section 2.01.
SECTION 2.Conditions to Effectiveness of this Agreement. This Amendment shall become effective on the date (the “Effective Date”) on which each of the following conditions shall have been satisfied:
(a)    the Administrative Agent shall have received duly executed counterparts of this Amendment from the Company, Newco, each other Loan Party and Lenders constituting at least Required Lenders; and
(b)    the representations and warranties set forth in Section 3 of this Amendment shall be true and correct in all material respects on and as of the Effective Date with the same effect as though made on and as of such date, except to the extent such representations and warranties expressly relate to an earlier date, in which case they shall be true and correct in all material respects as of such earlier date.
SECTION 3.Representations and Warranties. Each Loan Party represents and warrants that:
(a)    such Loan Party has all requisite power and authority and all requisite governmental licenses, authorizations, consents and approvals to execute, deliver and perform its obligations under this Amendment and the Credit Agreement as amended hereby;
(b)    the execution, delivery and performance by such Loan Party of this Amendment and the Credit Agreement as amended hereby, and the consummation of the transactions contemplated thereby, have been duly authorized by all necessary corporate or other organizational action and approvals (including, as applicable, requisite shareholder, member or partner action) (which approvals remain in full force and effect);
(c)    this Amendment has been duly executed and delivered by such Loan Party; 
(d)    this Amendment and the Credit Agreement as amended hereby constitute a legal, valid and binding obligation of such Loan Party, enforceable against such Loan Party in accordance with its terms;
(e)    the representations and warranties of the Loan Parties set forth in the Credit Agreement and in the other Loan Documents are true and correct in all material respects (except that such materiality qualifier shall not be applicable to any representations and warranties that already are qualified or modified by materiality in the text thereof) as of the date hereof as if made on the date hereof, except to the extent that such representations and warranties relate solely to an earlier date, in which case such representations and warranties are true and correct in all material respects (or true and correct, as the case may be) as of such earlier date; and 
(f)    no Default or Event of Default has occurred and is continuing.

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SECTION 4.Effect of Amendment. Except as expressly amended hereby, all of the representations, warranties, terms, covenants, conditions and other provisions of the Credit Agreement and the other Loan Documents shall remain unamended and unwaived and shall continue to be, and shall remain, in full force and effect in accordance with their respective terms.  The amendment set forth herein shall be limited precisely as provided for herein to the provisions expressly amended herein and shall not be deemed to be an amendment to any other term or provision of the Credit Agreement, any other Loan Document referred to therein or herein or of any transaction or further or future action on the part of any of the Borrower or any other Loan Party which would require the consent of the Lenders under the Credit Agreement or any of the other Loan Documents. On and after the Effect Date, each reference in the Credit Agreement to “this Agreement”, “hereunder”, “hereof”, “herein” or words of like import, and each reference to the Credit Agreement, “thereunder”, “thereof”, “therein” or words of like import in any other Loan Document shall be deemed a reference to the Credit Agreement as amended by this Amendment.
SECTION 5.Acknowledgment and Consent.
(a)    Each Guarantor hereby consents to the terms of this Amendment and further hereby confirms and agrees that, notwithstanding the effectiveness of this Amendment, the obligations of such Guarantor under each of the Loan Documents to which such Guarantor is a party shall not be impaired and each of the Loan Documents to which such Guarantor is a party are, and shall continue to be, in full force and effect and are hereby confirmed and ratified in all respects.
(b)    Each Guarantor hereby acknowledges and agrees that (i) notwithstanding the conditions to effectiveness set forth in this Amendment, such Guarantor is not required by the terms of the Credit Agreement or any other Loan Document to consent to the amendment to the Credit Agreement effected pursuant to this Amendment and (ii) nothing in the Credit Agreement, this Amendment or any other Loan Document shall be deemed to require the consent of such Guarantor to any future amendments to the Credit Agreement.
SECTION 6.GOVERNING LAW. THIS AMENDMENT AND ALL CLAIMS AND CAUSES OF ACTION ARISING FROM THIS AMENDMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.
SECTION 7.Counterparts. This Amendment may be executed in counterparts (and by different parties hereto in different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract.
SECTION 8.Severability. If any provision of this Amendment is held to be illegal, invalid or unenforceable, (a) the legality, validity and enforceability of the remaining provisions of this Amendment shall not be affected or impaired thereby and (b) the parties shall endeavor in good faith negotiations to replace the illegal, invalid or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the illegal, invalid or unenforceable provisions. The invalidity of a provision in a particular jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.

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SECTION 9.Headings. The headings of this Amendment are for purposes of reference only and shall not limit or otherwise affect the meaning hereof.
[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

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IN WITNESS WHEREOF, each of the parties hereto has caused this Agreement to be executed by its duly authorized officer or officers as of the date first above written.

	
	
	GLOBAL BROKERAGE HOLDINGS, LLC (f/k/a FXCM Holdings, LLC)

	 

	By: Global Brokerage, Inc. (f/k/a FXCM Inc.), its Managing Member

	 

	By:/s/David S. Sassoon

	Name: David S. Sassoon

	Title: General Counsel

	 

	FXCM Group, LLC (f/k/a FXCM Newco, LLC)

	 

	By:/s/David S. Sassoon

	Name: David S. Sassoon

	Title: General Counsel

	 

	FOREX TRADING L.L.C.

	 

	By: Global Brokerage Holdings, LLC (f/k/a FXCM Holdings, LLC), its Manager

	 

	By: Global Brokerage, Inc. (f/k/a FXCM Inc.), its Managing Member

	 

	By:/s/David S. Sassoon

	Name: David S. Sassoon

	Title: General Counsel

	 

	 

	 

	 

	 

	 

	 

	 

	 

	 

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	FXCM SYSTEMS, LLC

	 

	 

	By: Global Brokerage Holdings, LLC, its Manager

	 

	By: Global Brokerage, Inc. (f/k/a FXCM Inc.), its Managing Member

	 

	By:/s/David S. Sassoon

	Name: David S. Sassoon

	Title: General Counsel

	 

	YOZMA LLC

	 

	By: Global Brokerage Holdings, LLC (f/k/a FXCM Holdings, LLC), its Manager

	 

	By: Global Brokerage, Inc. (f/k/a FXCM Inc.), its Managing Member

	 

	By:/s/David S. Sassoon

	Name: David S. Sassoon

	Title: General Counsel

	 

	FINANCIAL HORIZONS CAPITAL, LLC

	 

	By: Global Brokerage Holdings, LLC (f/k/a 
FXCM Holdings, LLC), its Manager

	 

	By: Global Brokerage, Inc. (f/k/a FXCM Inc.), its Managing Member

	 

	By:/s/David S. Sassoon

	Name: David S. Sassoon

	Title: General Counsel

	 

	 

	 

	 

	 

	 

	 

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	HORIZONS FUNDING, LLC

	 

	By: Financial Horizons Capital, LLC,
its Manager

	 

	By: Global Brokerage Holdings, LLC (f/k/a FXCM Holdings, LLC), its Manager

	 

	By: Global Brokerage, Inc. (f/k/a 
FXCM Inc.), its Managing Member

	 

	By:/s/David S. Sassoon

	Name: David S. Sassoon

	Title: General Counsel

	 

	 

	 

	 

	 

	 

	 

	 

	 

	 

	 

	 

	 

	 

	 

	 

	 

	 

	 

	 

	 

	 

	 

	 

	 

	 

	 

	 

8

	
	
	 

	LEUCADIA NATIONAL CORPORATION,

	as Administrative Agent

	 

	 

	By: /s/Michael J. Sharp

	Name: Michael J. Sharp

	Title: EVP & General Counsel

	 

	LUK-FX Holdings, LLC,

	as Lender

	By: Leucadia National Corporation, its sole 
member

	 

	 

	By: /s/Michael J. Sharp

	Name: Michael J. Sharp

	Title: EVP & General Counsel

	 

	 

	 

	 

	 

	 

	 

	 

	 

	 

	 

	 

	 

	 

	 

	 

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