Document:

exv4w4

Exhibit 4.4

Form of Note

THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND
IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF. THIS SECURITY IS EXCHANGEABLE FOR
SECURITIES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITARY OR ITS NOMINEE ONLY IN THE
LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE AND, UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR
IN PART FOR SECURITIES IN DEFINITIVE FORM, THIS SECURITY MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE
BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE
DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A
SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY.

UNLESS THIS SECURITY IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY,
A NEW YORK CORPORATION (“DTC”), TO THE OPERATING PARTNERSHIP (AS DEFINED BELOW) OR ITS AGENT FOR
REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY SECURITY ISSUED IS REGISTERED IN THE NAME OF
CEDE & CO. OR IN SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY
PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO
ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

No.:

			
	 	 	 
	CUSIP No.: 00163M AK0
	 	Principal Amount: $250,000,000

AMB PROPERTY, L.P.

6.625% Notes due 2019

AMB Property, L.P., a Delaware limited partnership (hereinafter called the “Operating Partnership”,
which term includes any successor under the Indenture referred to below), for value received,
hereby promises to pay to CEDE & CO., or registered assigns, the principal sum of TWO HUNDRED FIFTY
MILLION DOLLARS ($250,000,000) on December 1, 2019, and to pay
interest thereon from November 20, 2009 or
from the most recent date to which interest has been paid or duly provided for, semiannually on
June 1 and December 1 of each year (each, an “Interest Payment Date”), commencing June 1, 2010, and
at Maturity, at the rate of 6.625% per annum, until the principal hereof is paid or duly made
available for payment. Interest on this Note shall be calculated on the basis of a 360-day year
consisting of twelve 30-day months. The interest so payable and punctually paid or duly provided
for on any Interest Payment Date will, as provided in such Indenture, be paid to the Person in
whose name this Note (or one or more Predecessor Securities) is registered at the close of business
on the Regular Record Date for such interest, which shall be the
May 17 or November 16 (whether or
not a Business Day), as the case may be, immediately preceding such Interest Payment Date. Any such
interest which is payable, but is not punctually paid or duly provided for, on any Interest Payment
Date shall forthwith cease to be payable to the registered Holder hereof on the relevant Regular
Record Date by virtue of having been such Holder, and may be paid to the Person in whose name this
Note (or one or more Predecessor Securities) is registered at the close of business on a Special
Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof
shall be given to the Holder of this Note not less than 10 days

 

 

prior to such Special Record Date, or may be paid at any time in any other lawful manner not
inconsistent with the requirements of any securities exchange on which the Notes may be listed, and
upon such notice as may be required by such exchange, all as more fully provided in such Indenture.

Payment of the principal of and the interest on this Note will be made at the office or agency of
the Operating Partnership maintained for that purpose in the Borough of Manhattan, The City of New
York, in such coin or currency of the United States of America as at the time of payment is legal
tender for payment of public and private debts; provided, however, that, at the option of the
Operating Partnership, interest may be paid by check mailed to the address of the Person entitled
thereto as such address shall appear in the Security Register or by wire transfer to an account
maintained by the payee located in the United States of America.

This Note is one of a duly authorized issue of Securities of the Operating Partnership (herein
called the “Notes”) issued and to be issued under an Indenture dated as of June 30, 1998 (herein
called, together with all indentures supplemental thereto, the “Indenture”) among, the Operating
Partnership, AMB Property Corporation and U.S. Bank National Association, as successor-in-interest
to State Street Bank and Trust Company of California, N.A., as trustee (herein called the
“Trustee”, which term includes any successor trustee under the Indenture), to which Indenture and
all indentures supplemental thereto reference is hereby made for a statement of the respective
rights, limitations of rights, duties and immunities thereunder of the Operating Partnership, the
Trustee and the Holders of the Notes, and the terms upon which the Notes are, and are to be,
authenticated and delivered. This Note is one of the Securities of the series designated on the
face hereof, limited in aggregate principal amount to $250,000,000.

The Notes are subject to redemption prior to the Stated Maturity of the principal thereof as
provided in the Indenture.

If an Event of Default with respect to the Notes shall occur and be continuing, the principal of
the Notes may be declared due and payable in the manner and with the effect provided in the
Indenture.

The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the
modification of the rights and obligations of the Operating Partnership and the rights of the
Holders of the Notes of each series issued under the Indenture at any time by the Operating
Partnership and the Trustee with the consent of the Holders of not less than a majority in
aggregate principal amount of the Notes at the time Outstanding of each series affected thereby.
The Indenture also contains provisions permitting the Holders of specified percentages in aggregate
principal amount of the Notes of any series at the time Outstanding, on behalf of the Holders of
all Notes of such series, to waive compliance by the Operating Partnership with certain provisions
of the Indenture and certain past defaults under the Indenture and their consequences. Any such
consent or waiver by the holder of this Note shall be conclusive and binding upon such Holder and
upon all future Holders of this Note and of any Notes issued upon the registration of transfer
hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or waiver
is made upon this Note.

No reference herein to the Indenture and no provision of this Note or of the Indenture shall alter
or impair the obligation of the Operating Partnership, which is absolute and unconditional, to pay
the principal of and interest on this Note, at the time, place and rate, and in the coin or
currency, herein and in the Indenture prescribed.

As provided in the Indenture and subject to certain limitations set forth therein, the transfer of
this Note may be registered on the Security Register upon surrender of this Note for registration
of transfer at the office or agency of the Operating Partnership maintained for the purpose in any
place where the principal

 

 

of and interest on this Note are payable, duly endorsed, or accompanied by a written instrument of
transfer in form satisfactory to the Operating Partnership and the Security Registrar duly executed
by the Holder hereof or by his attorney duly authorized in writing, and thereupon one or more new
Notes, of authorized denominations and for the same aggregate principal amount, will be issued to
the designated transferee or transferees. The Notes are issuable only in registered form without
coupons in the denominations of $1,000 and integral multiples of $1,000. As provided in the
Indenture and subject to certain limitations set forth therein, the Notes are exchangeable for a
like aggregate principal amount of Notes of authorized denominations as requested by the Holders
surrendering the same.

No service charge shall be made for any such registration of transfer or exchange, but the
Operating Partnership may require payment of a sum sufficient to cover any tax or other
governmental charge payable in connection therewith, other than in certain cases provided in the
Indenture.

Prior to due presentment of this Note for registration of transfer, the Operating Partnership, the
Trustee and any agent of the Operating Partnership or the Trustee may treat the Person in whose
name this Note is registered as the owner hereof for all purposes, whether or not this Note be
overdue, and neither the Operating Partnership, the Trustee nor any such agent shall be affected by
notice to the contrary.

The Indenture contains provisions whereby (i) the Operating Partnership may be discharged from its
obligations with respect to the Notes (subject to certain exceptions) or (ii) the Operating
Partnership may be released from its obligations under specified covenants and agreements in the
Indenture, in each case if the Operating Partnership irrevocably deposits with the Trustee money or
Government Obligations sufficient to pay and discharge the entire indebtedness on all Securities,
and satisfies certain other conditions, all as more fully provided in the Indenture.

THIS NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS OF THE STATE OF
NEW YORK.

Capitalized terms used in this Note which are not defined herein shall have the meanings assigned
to them in the Indenture.

Unless the certificate of authentication hereon has been executed by or on behalf of the Trustee
under the Indenture by the manual signature of one of its authorized signatories, this Note shall
not be entitled to any benefits under the Indenture or be valid or obligatory for any purpose.

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

 

 

IN WITNESS WHEREOF, the Operating Partnership has caused this instrument to be duly executed.

Dated: November 20, 2009

AMB PROPERTY, L.P.

By: AMB PROPERTY CORPORATION,

its sole general partner

	 	 	 	 	 
	 	 	 
	By:  	 	 	 
	 	Name:  	 	 	 
	 	Title:  	 	 	 
	 

TRUSTEE’S CERTIFICATE OF AUTHENTICATION

This is one of the Securities of the

series designated therein referred to

in the within-mentioned Indenture.

U.S. BANK NATIONAL ASSOCIATION, as Trustee

	 	 	 	 	 
	 	 	 
	By:  	 	 	 
	 	Name:  	Bradley Scarbrough 	 	 
	 	Title:  	Vice President 	 	 	 

 

 

	 	 	 	 	 

PARENT GUARANTEE

FOR VALUE RECEIVED, the undersigned hereby, jointly and severally with the Subsidiary Guarantors,
if any, unconditionally guarantees to the Holder of the accompanying 6.625% Note due 2019 (the
“Note”) issued by AMB Property, L.P. (the “Operating Partnership”) under an Indenture dated as of
June 30, 1998 (together with the First Supplemental Indenture thereto, the Second Supplemental
Indenture thereto, the Third Supplemental Indenture thereto, the Fourth Supplemental Indenture
thereto, the Fifth Supplemental Indenture thereto, the Sixth Supplemental Indenture thereto, the
Seventh Supplemental Indenture thereto, the Eighth Supplemental Indenture thereto and the Ninth
Supplemental Indenture thereto, the “Indenture”) among the Operating Partnership, AMB Property
Corporation, and U.S. Bank National Association, as successor-in-interest to State Street Bank and
Trust Company of California, N.A., as trustee hereunder (the “Trustee”), (a) the full and prompt
payment of the principal of and premium, if any, on such Note when and as the same shall become due
and payable, whether at Stated Maturity, by acceleration, by redemption or otherwise, and (b) the
full and prompt payment of the interest on such Note when and as the same shall become due and
payable, according to the terms of such Note and of the Indenture. In case of the failure of the
Operating Partnership punctually to pay any such principal, premium or interest, the undersigned
hereby agrees to cause any such payment to be made punctually when and as the same shall become due
and payable, whether at Stated Maturity, upon acceleration, by redemption or otherwise, and as if
such payment were made by the Operating Partnership. The undersigned hereby agrees, jointly and
severally with the Subsidiary Guarantors, if any, that its obligations hereunder shall be as
principal and not merely as surety, and shall be absolute and unconditional, and shall not be
affected, modified or impaired by the following: (a) the failure to give notice to the Guarantors
of the occurrence of an Event of Default under the Indenture; (b) the waiver, surrender,
compromise, settlement, release or termination of the payment, performance or observance by the
Operating Partnership or the Guarantors of any or all of the obligations, covenants or agreements
of either of them contained in the Indenture or the Notes; (c) the acceleration, extension or any
other changes in the time for payment of any principal of or interest or any premium on any Note or
for any other payment under the Indenture or of the time for performance of any other obligations,
covenants or agreements under or arising out of the Indenture or the Notes; (d) the modification or
amendment (whether material or otherwise) of any obligation, covenant or agreement set forth in the
Indenture or the Notes; (e) the taking or the omission of any of the actions referred to in the
Indenture and in any of the actions under the Notes; (f) any failure, omission, delay or lack on
the part of the Trustee to enforce, assert or exercise any right, power or remedy conferred on the
Trustee in the Indenture, or any other action or acts on the part of the Trustee or any of the
Holders from time to time of the Notes; (g) the voluntary or involuntary liquidation, dissolution,
sale or other disposition of all or substantially all the assets, marshaling of assets and
liabilities, receivership, insolvency, bankruptcy, assignment for the benefit of creditors,
reorganization, arrangement, composition with creditors or readjustment of, or other similar
proceedings affecting the Guarantors or the Operating Partnership or any of the assets of any of
them, or any allegation or contest of the validity of the Parent Guarantee in any such proceeding;
(h) to the extent permitted by law, the release or discharge by operation of law of the Guarantors
from the performance or observance
 of any obligation, covenant or agreement contained in the
Indenture; (i) to the extent permitted by law, the release or discharge by operation of law of the
Operating Partnership from the performance or observance of any obligation, covenant or agreement
contained in the Indenture; (j) the default or failure of the Operating Partnership or the Trustee
fully to perform any of its obligations set forth in the Indenture or the Notes; (k) the
invalidity, irregularity or unenforceability of the Indenture or the Notes or any part of any
thereof; (l) any judicial or governmental action affecting the Operating Partnership or any Notes
or consent or indulgence granted to the Operating Partnership by the Holders or by the Trustee; or
(m) the recovery of any judgment against the Operating Partnership or any action to enforce the
same or any other circumstance which might constitute a legal or equitable discharge of a surety or
guarantor. The undersigned hereby waives diligence, presentment, demand of payment, filing of
claims with a court in the event of merger, sale, lease or conveyance of all or substantially all
of its assets,

 

 

insolvency or bankruptcy of the Operating Partnership, any right to require a proceeding first
against the Operating Partnership, protest or notice with respect to such Notice or the
indebtedness evidenced thereby and all demands whatsoever, and covenants that this Parent Guarantee
will not be discharged except by complete performance of the obligations contained in such Note and
in this Parent Guarantee.

No reference herein to such Indenture and no provision of this Parent Guarantee or of such
Indenture shall alter or impair the guarantee of the undersigned, which is absolute and
unconditional, of the full and prompt payment of the principal of and premium, if any, and interest
on the Note.

THIS PARENT GUARANTEE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS OF
THE STATE OF NEW YORK.

This Parent Guarantee shall not be valid or obligatory for any purpose until the certificate of
authentication on the Note shall have been executed by the Trustee under the Indenture referred to
above by the manual signature of one of its authorized officers. The validity and enforceability of
this Parent Guarantee shall not be affected by the fact that it is not affixed to any particular
Note.

An Event of Default under the Indenture or the Notes shall constitute an event of default under
this Parent Guarantee, and shall entitle the Holders of Notes to accelerate the obligations of the
undersigned hereunder in the same manner and to the same extent as the obligations of the Operating
Partnership.

Notwithstanding any other provision of this Parent Guarantee to the contrary, the undersigned
hereby waives any claims or other rights which it may now have or hereafter acquire against the
Operating Partnership that arise from the existence or performance of its obligations under this
Parent Guarantee (all such claims and rights are referred to as “Guarantor’s Conditional Rights”),
including, without limitation, any right of subrogation, reimbursement, exoneration, contribution,
or indemnification, any right to participate in any claim or remedy against the Operating
Partnership, whether or not such claim, remedy or right arises in equity or under contract, statute
or common law, by any payment made hereunder or otherwise, including without limitation, the right
to take or receive from the Operating Partnership, directly or indirectly, in cash or other
property or by setoff or in any other manner, payment or security on account of such claim or other
rights. Guarantor hereby agrees not to exercise any rights which may be acquired by way of
contribution under this Parent Guarantee or any other agreement, by any payment made hereunder or
otherwise, including, without limitation, the right to take or receive from any other guarantor,
directly or indirectly, in cash or other property or by setoff or in any other manner, payment or
security on account of such contribution rights. If, notwithstanding the foregoing provisions, any
amount shall be paid to the undersigned on account of the Guarantor’s Conditional Rights and either
(i) such amount is paid to such undersigned party at any time when the indebtedness shall not have
been paid or performed in full, or (ii) regardless of when such amount is paid to such undersigned
party, any payment made by the Operating Partnership to a Holder that is at any time determined to
be a Preferential Payment (as defined below), then such amount paid to the undersigned shall be
held in trust for the benefit of Holder and shall forthwith be paid such Holder to be credited and
applied upon the indebtedness, whether matured or unmatured. Any such payment is herein referred to
as a “Preferential Payment” to the extent the Operating Partnership makes any payment to Holder in
connection with the Note, and any or all of such payment is subsequently invalidated, declared to
be fraudulent or preferential, set aside or required to be repaid or paid over to a trustee,
receiver or any other entity, whether under any bankruptcy act or otherwise.

To the extent that any of the provisions of the immediately preceding paragraph shall not be
enforceable, the undersigned agrees that until such time as the indebtedness has been paid and
performed in full and the period of time has expired during which any payment made by the Operating
Partnership or the undersigned to a Holder may be determined to be a Preferential Payment,
Guarantor’s Conditional Rights

 

 

to the extent not validly waived shall be subordinate to Holders’ right to full payment and
performance of the indebtedness and the undersigned shall not enforce any of Guarantor’s
Conditional Rights until such time as the indebtedness has been paid and performed in full and the
period of time has expired during which any payment made by the Operating Partnership or the
undersigned to Holders may be determined to be a Preferential Payment.

The obligations of the undersigned to the Holders of the Notes and to the Trustee pursuant to this
Parent Guarantee and the Indenture are expressly set forth in Article 14 of the Indenture and
reference is hereby made to the Indenture for the precise terms of this Parent Guarantee and all of
the other provisions of the Indenture to which this Parent Guarantee relates.

Capitalized terms used in this Parent Guarantee which are not defined herein shall have the
meanings assigned to them in the Indenture.

 

 

IN WITNESS WHEREOF, the undersigned has caused this Parent Guarantee to be duly executed.

Dated: November 20, 2009

	 	 	 	 	 
	AMB PROPERTY CORPORATION

 	 	 
	By:  	 	 	 
	 	Name:  	 	 	 
	 	Title:  	 	 	 

 

 

	 	 	 	 	 

ASSIGNMENT

FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto:

	 	 	 
	PLEASE INSERT SOCIAL SECURITY OR

OTHER IDENTIFYING NUMBER OF ASSIGNEE:

	 	 
	 

	 	 

 

(Please print or typewrite name and address of assignee, including postal zip code of assignee)

 

this Note and all rights thereunder, hereby irrevocably constituting and appointing:

 

Attorney, to transfer this Note on the books of the Trustee, with full power of substitution in the
premises.

	 	 	 	 	 	 	 
	Dated:
	 	 	 	 	 	 
	 	 	 	 	 
	 

	 	 	 	Notice:
	 	The signature(s) on this Assignment
must correspond with the name(s) as
written upon the face of this Note in
every particular, without alteration or
enlargement or any change whatsoever.

 

 

ABBREVIATIONS

     The following abbreviations, when used in the inscription on the face of this instrument,
shall be construed as though they were written out in full according to applicable laws or
regulations:

	 	 	 
	TEN COM—as tenants in common
	 	UNIF GIFT MIN ACT—_____ Custodian_____

	 	 	
(Cust)                 (Minor)

	TEN ENT—as tenants by the entireties
	 	Under Uniform Gifts to Minors Act ________

	 	 	(State)

	JT TEN—as joint tenants with right
of survivorship and not as tenants
in common

	 	 

     Additional abbreviations may also be used though not in the above list.

 

 

[FORM OF SCHEDULE FOR ENDORSEMENTS ON GLOBAL SECURITY

TO REFLECT CHANGES IN PRINCIPAL AMOUNT]

Schedule A

Changes to Principal Amount of Global Security

	 	 	 	 	 	 	 
	 	 	Principal Amount of Securities by which this	 	 	 	 
	 	 	Global Security is to be Reduced or Increased,	 	Remaining Principal Amount	 	Notation
	Date	 	and Reason for Reduction or Increase	 	of this Global Security	 	Made byexv10w15

EXHIBIT 10.15

DOLE FOOD COMPANY, INC.

GRANT NOTICE FOR 2009 STOCK INCENTIVE PLAN

INCENTIVE STOCK OPTIONS

FOR GOOD AND VALUABLE CONSIDERATION, Dole Food Company, Inc. (the “Company”), hereby grants to
Participant named below the incentive stock option (the “Option”) to purchase any part or all of
the number of shares of its common stock, par value $0.001 (the “Common Stock”), that are covered
by this Option, as specified below, at the Exercise Price per share specified below and upon the
terms and subject to the conditions set forth in this Grant Notice, the Dole Food Company, Inc.
2009 Stock Incentive Plan (the “Plan”) and the Standard Terms and Conditions (the “Standard Terms
and Conditions”) promulgated under such Plan, each as amended from time to time. This Option is
granted pursuant to the Plan and is subject to and qualified in its entirety by the Standard Terms
and Conditions.

	 	 	 	 	 
	Name of Participant:
	 	 	 	 
	Grant Date:
	 	 	 	 
	Number of Shares of Common Stock covered by Option:
	 	 	 	 
	Exercise Price Per Share:
	 	$	 	 
	Expiration Date:
	 	 	 	 
	Vesting Schedule:
	 	 	 	 

This Option is intended to qualify as an incentive stock option under Section 422 of the Internal
Revenue Code of 1986, as amended. By accepting this Grant Notice, Participant acknowledges that he
or she has received and read, and agrees that this Option shall be subject to, the terms of this
Grant Notice, the Plan and the Standard Terms and Conditions.

	 	 	 	 	 
	DOLE FOOD COMPANY, INC.	 	 
	 

	 	 	 	 
	 

	 	 	 	Participant Signature
	By

	 	 
 

	 	 
	Title:
	 	 

	 	Address (please print):
	 

	 		 	 
	 

	 	 	 	 
	 
	 	 	 	 
	 

	 	 	 	 
	 
	 	 	 	 
	 

	 	 	 	 

 

 

DOLE FOOD COMPANY, INC.

STANDARD TERMS AND CONDITIONS FOR

EMPLOYEE INCENTIVE STOCK OPTIONS

These Standard Terms and Conditions apply to the Options granted pursuant to the Dole Food Company,
Inc. 2009 Stock Incentive Plan (the “Plan”), which are identified as incentive stock options and
are evidenced by a Grant Notice or an action of the Administrator that specifically refers to these
Standard Terms and Conditions. In addition to these Terms and Conditions, the Option shall be
subject to the terms of the Plan, which are incorporated into these Standard Terms and Conditions
by this reference. Capitalized terms not otherwise defined herein shall have the meaning set forth
in the Plan.

	1.	 	TERMS OF OPTION
	 
	 	 	Dole Food Company, Inc. (the “Company”), has granted to the Participant named in the Grant
Notice provided to said Participant herewith (the “Grant Notice”) an incentive stock option
(the “Option”) to purchase up to the number of shares of the Company’s common stock (the
“Common Stock”), set forth in the Grant Notice. The exercise price per share and the other
terms and subject to the conditions of the Option are set forth in the Grant Notice, these
Standard Terms and Conditions (as amended from time to time), and the Plan. For purposes of
these Standard Terms and Conditions and the Grant Notice, any reference to the Company shall
include a reference to any Subsidiary.
	 
	2.	 	INCENTIVE STOCK OPTION
	 
	 	 	The Option is intended to qualify as an incentive stock option under Section 422 of the
Internal Revenue Code of 1986, as amended (the “Code”), and will be interpreted accordingly.
Section 422 of the Code provides, among other things, that the Participant shall not be
taxed upon the exercise of a stock option that qualifies as an incentive stock option
provided the Participant does not dispose of the shares of Common Stock acquired upon
exercise of such option until the later of two years after such option is granted to the
Participant and one year after such option is exercised. Notwithstanding anything to the
contrary herein, Section 422 of the Code provides that incentive stock options (including,
possibly, the Option) shall not be treated as incentive stock options if and to the extent
that the aggregate fair market value of shares of Common Stock (determined as of the time of
grant) with respect to which such incentive stock options are exercisable for the first time
by the Participant during any calendar year (under all plans of the Company and its
Subsidiaries) exceeds $100,000, taking options into account in the order in which they were
granted. Thus, if and to the extent that any shares of Common Stock issued under a portion
of the Option exceeds the foregoing $100,000 limitation, such shares shall not be treated as
issued under an incentive stock option pursuant to Section 422 of the Code and shall instead
be treated as issued pursuant to nonqualified stock options.

 

 

	3.	 	EXERCISE OF OPTION
	 
	 	 	The Option shall not be exercisable as of the Grant Date set forth in the Grant Notice.
After the Grant Date, to the extent not previously exercised, and subject to termination or
acceleration as provided in these Standard Terms and Conditions and the Plan, the Option
shall be exercisable only to the extent it becomes vested, as described in the Grant Notice
or the terms of the Plan, to purchase up to that number of shares of Common Stock as set
forth in the Grant Notice, provided that (except as set forth in Section 4.A below) the
Participant remains employed with the Company and does not experience a Termination of
Employment. The vesting period and/or exercisability of an Option may be adjusted by the
Administrator to reflect the decreased level of employment during any period in which the
Participant is on an approved leave of absence or is employed on a less than full time
basis.
	 
	 	 	To exercise the Option (or any part thereof), the Participant shall deliver to the Company a
“Notice of Exercise” in a form specified by the Administrator, specifying the number of
whole shares of Common Stock the Participant wishes to purchase and how the Participant’s
shares of Common Stock should be registered (in the Participant’s name only or in the
Participant’s and the Participant’s spouse’s names as community property or as joint tenants
with right of survivorship).
	 
	 	 	The exercise price (the “Exercise Price”) of the Option is set forth in the Grant Notice.
The Company shall not be obligated to issue any shares of Common Stock until the Participant
shall have paid the total Exercise Price for that number of shares of Common Stock. The
Exercise Price may be paid in Common Stock, cash or a combination thereof, including an
irrevocable commitment by a broker to pay over such amount from a sale of the Common Stock
issuable under the Option, the delivery of previously owned Common Stock, withholding of
shares of Common Stock deliverable upon exercise of the Option, or in such other manners as
may be permitted by the Administrator.
	 
	 	 	Fractional shares may not be exercised. Shares of Common Stock will be issued as soon as
practical after exercise. Notwithstanding the above, the Company shall not be obligated to
deliver any shares of Common Stock during any period when the Company determines that the
exercisability of the Option or the delivery of shares of Common Stock hereunder would
violate any federal, state or other applicable laws.
	 
	4.	 	EXPIRATION OF OPTION
	 
	 	 	The Option shall expire and cease to be exercisable as of the earlier of (a) the Expiration
Date set forth in the Grant Notice or (b) the date specified below in connection with the
Participant’s Termination of Employment:

	 	A.	 	If the Participant’s Termination of Employment is by reason of death,
Disability or Retirement, the Participant (or the Participant’s estate, beneficiary or
legal representative) may exercise the Option (regardless of whether then vested or
exercisable) until the date that is twelve months following the date of such
Termination of Employment.

2

 

	 	B.	 	If the Participant’s Termination of Employment is for any reason other than
death, Disability, Retirement or Cause, the Participant may exercise any portion of the
Option that is vested and exercisable at the time of such Termination of Employment
until the date that is three months following the date of such Termination of
Employment. Any portion of the Option that is not vested and exercisable at the time
of such Termination of Employment (after taking into account any accelerated vesting
under Section 12 of the Plan or any other agreement between the Participant and the
Company (including any accelerated vesting to which the Participant is entitled in the
event of a “Qualified Termination” under a Change of Control Agreement between the
Participant and the Company), if applicable) shall be forfeited and canceled as of the
date of such Termination of Employment.
	 
	 	C.	 	If the Participant’s Termination of Employment is by the Company for Cause, the
entire Option, whether or not then vested and exercisable, shall be immediately
forfeited and canceled as of the date of such Termination of Employment.

	5.	 	RESTRICTIONS ON RESALES OF SHARES ACQUIRED PURSUANT TO OPTION EXERCISE
	 
	 	 	The Company may impose such restrictions, conditions or limitations as it determines
appropriate as to the timing and manner of any resales by the Participant or other
subsequent transfers by the Participant of any shares of Common Stock issued as a result of
the exercise of the Option, including without limitation (a) restrictions under an insider
trading policy, (b) restrictions designed to delay and/or coordinate the timing and manner
of sales by Participant and other optionholders and (c) restrictions as to the use of a
specified brokerage firm for such resales or other transfers.
	 
	6.	 	INCOME TAXES
	 
	 	 	The Company shall not deliver shares of Common Stock in respect of the exercise of any
Option unless and until the Participant has made arrangements satisfactory to the
Administrator to satisfy applicable withholding tax obligations. Unless the Participant
pays the withholding tax obligations to the Company by cash or check in connection with the
exercise of the Option, withholding may be effected, at the Company’s option, by withholding
Common Stock issuable in connection with the exercise of the Option (provided that shares of
Common Stock may be withheld only to the extent that such withholding will not result in
adverse accounting treatment for the Company). The Participant acknowledges that the
Company shall have the right to deduct any taxes required to be withheld by law in
connection with the exercise of the Option from any amounts payable by it to the Participant
(including, without limitation, future cash wages).
	 
	7.	 	NON-TRANSFERABILITY OF OPTION
	 
	 	 	Except as permitted by the Administrator or as permitted under the Plan, the Participant may
not assign or transfer the Option to anyone other than by will or the laws of descent

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	 	 	and distribution and the Option shall be exercisable only by the Participant during his or
her lifetime. The Company may cancel the Participant’s Option if the Participant attempts
to assign or transfer it in a manner inconsistent with this Section 7.
	 
	8.	 	OTHER AGREEMENTS SUPERSEDED
	 
	 	 	The Grant Notice, these Standard Terms and Conditions and the Plan constitute the entire
understanding between the Participant and the Company regarding the Option. Any prior
agreements, commitments or negotiations concerning the Option are superseded.
	 
	9.	 	LIMITATION OF INTEREST IN SHARES SUBJECT TO OPTION
	 
	 	 	Neither the Participant (individually or as a member of a group) nor any beneficiary or
other person claiming under or through the Participant shall have any right, title,
interest, or privilege in or to any shares of Common Stock allocated or reserved for the
purpose of the Plan or subject to the Grant Notice or these Standard Terms and Conditions
except as to such shares of Common Stock, if any, as shall have been issued to such person
upon exercise of the Option or any part of it. Nothing in the Plan, in the Grant Notice,
these Standard Terms and Conditions or any other instrument executed pursuant to the Plan
shall confer upon the Participant any right to continue in the Company’s employ or service
nor limit in any way the Company’s right to terminate the Participant’s employment at any
time for any reason.
	 
	10.	 	GENERAL
	 
	 	 	In the event that any provision of these Standard Terms and Conditions is declared to be
illegal, invalid or otherwise unenforceable by a court of competent jurisdiction, such
provision shall be reformed, if possible, to the extent necessary to render it legal, valid
and enforceable, or otherwise deleted, and the remainder of these Standard Terms and
Conditions shall not be affected except to the extent necessary to reform or delete such
illegal, invalid or unenforceable provision.
	 
	 	 	The headings preceding the text of the sections hereof are inserted solely for convenience
of reference, and shall not constitute a part of these Standard Terms and Conditions, nor
shall they affect its meaning, construction or effect.
	 
	 	 	These Standard Terms and Conditions shall inure to the benefit of and be binding upon the
parties hereto and their respective permitted heirs, beneficiaries, successors and assigns.
	 
	 	 	These Standard Terms and Conditions shall be construed in accordance with and governed by
the laws of the State of Delaware, without regard to principles of conflicts of law.
	 
	 	 	In the event of any conflict between the Grant Notice, these Standard Terms and Conditions
and the Plan, the Grant Notice and these Standard Terms and Conditions shall control. In
the event of any conflict between the Grant Notice and these Standard Terms and Conditions,
the Grant Notice shall control.

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	 	 	All questions arising under the Plan or under these Standard Terms and Conditions shall be
decided by the Administrator in its total and absolute discretion.
	 
	11.	 	ELECTRONIC DELIVERY
	 
	 	 	By executing the Grant Notice, the Participant hereby consents to the delivery of
information (including, without limitation, information required to be delivered to the
Participant pursuant to applicable securities laws) regarding the Company and the
Subsidiaries, the Plan, the Option and the Common Stock via Company web site or other
electronic delivery.

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