Document:

exv4w2

Exhibit 4.2

 

REGISTRATION RIGHTS AGREEMENT

Dated as of May 4, 2010

among

LENNAR CORPORATION

AND THE GUARANTORS NAMED HEREIN

as Issuers,

and

CITIGROUP GLOBAL MARKETS INC.

and

J.P. MORGAN SECURITIES INC.

as Representatives of the Several Initial Purchasers

6.950% Senior Notes due 2018

 

 

 

REGISTRATION RIGHTS AGREEMENT

          This Registration Rights Agreement (this “Agreement”) is made and entered into as of
May 4, 2010, among LENNAR CORPORATION, a Delaware corporation (the “Company”), and the
other entities that are listed on the signature pages hereof (collectively with any entity that in
the future executes a supplemental indenture pursuant to which such entity agrees to guarantee the
Notes (as hereinafter defined), the “Guarantors” and, together with the Company, the
“Issuers”), and CITIGROUP GLOBAL MARKETS INC. and J.P. MORGAN SECURITIES INC. as
representatives (the “Representatives”) of the several initial purchasers (the “Initial
Purchasers”) under the Purchase Agreement (as defined below).

          This Agreement is entered into in connection with the Purchase Agreement, dated April 27,
2010, among the Company and the Representatives, as representatives of the Initial Purchasers (the
“Purchase Agreement”), which provides for, among other things, the sale by the Company to
the Initial Purchasers of $250,000,000 aggregate principal amount of the Company’s 6.950% Senior
Notes due 2018 (the “Notes”). The Notes are unconditionally guaranteed (the
“Guarantees”) by each of the Guarantors. The Notes and the Guarantees are collectively
referred to herein as the “Securities”. In order to induce the Representatives to enter
into the Purchase Agreement, the Issuers have agreed to provide the registration rights set forth
in this Agreement for the benefit of the Initial Purchasers and any subsequent holder or holders of
the Securities. The execution and delivery of this Agreement is a condition to the Initial
Purchasers’ obligation to purchase the Securities under the Purchase Agreement.

          The parties hereby agree as follows:

     1. Definitions

          As used in this Agreement, the following terms shall have the following meanings:

          Additional Interest: See Section 4 hereof.

          Additional Notes: See Section 2(a) hereof.

          Advice: See the last paragraph of Section 5 hereof.

          Agreement: See the introductory paragraphs hereto.

          Applicable Period: See Section 2 hereof.

          Automatic Shelf Registration Statement: An “automatic shelf registration” statement
within the meaning of Rule 405.

          Business Day: Each Monday, Tuesday, Wednesday, Thursday and Friday which is a day on
which banking institutions are open in New York, New York.

          Company: See the introductory paragraphs hereto.

 

 

          Effectiveness Date: October 1, 2010; provided, however, that with
respect to any Shelf Registration Statement, the Effectiveness Date shall be the 75th day following
the Filing Date with respect thereto.

          Effectiveness Period: See Section 3(a) hereof.

          Event Date: See Section 4(b) hereof.

          Exchange Act: The Securities Exchange Act of 1934, as amended, and the rules and
regulations of the SEC promulgated thereunder.

          Exchange Notes: See Section 2 hereof.

          Exchange Offer: See Section 2 hereof.

          Exchange Offer Registration Statement: See Section 2 hereof.

          Filing Date: (A) If no Exchange Offer Registration Statement has been filed by the
Issuers pursuant to this Agreement, September 1, 2010; and (B) in each other case (which may be
applicable notwithstanding the consummation of the Exchange Offer), the 30th day after the delivery
of a Shelf Notice.

          FINRA: See Section 5(r) hereof.

          Guarantees: See the introductory paragraphs hereto.

          Guarantors: See the introductory paragraphs hereto.

          Holder: Any holder of a Registrable Security or Registrable Securities.

          Indemnified Person: See Section 7(c) hereof.

          Indemnifying Person: See Section 7(c) hereof.

          Indenture: The Indenture, dated as of May 4, 2010, by and among the Issuers and The
Bank of New York Mellon, as trustee, pursuant to which the Notes are being issued, as the same may
be amended or supplemented from time to time in accordance with the terms thereof.

          Initial Purchasers: See the introductory paragraphs hereto.

          Initial Shelf Registration Statement: See Section 3(a) hereof.

          Inspectors: See Section 5(m) hereof.

          Issue Date: May 4, 2010, the date of original issuance of the Securities.

          Notes: See the introductory paragraphs hereto.

-2-

 

          Offering Memorandum: The offering memorandum of the Company dated April 27, 2010, in
respect of the offering of the Securities.

          Participant: See Section 7(a) hereof.

          Participating Broker-Dealer: See Section 2(a) hereof.

          Person: An individual, trustee, corporation, limited liability company, partnership,
joint stock company, trust, unincorporated association, union, business association, firm or other
legal entity.

          Private Exchange: See Section 2(b) hereof.

          Private Exchange Notes: See Section 2(b) hereof.

          Prospectus: The prospectus included in any Registration Statement (including, without
limitation, any prospectus subject to completion and a prospectus that includes any information
previously omitted from a prospectus filed as part of an effective registration statement in
reliance upon Rule 430A promulgated under the Securities Act and any term sheet filed pursuant to
Rule 434 under the Securities Act), as amended or supplemented by any prospectus supplement, and
all other amendments and supplements to the Prospectus, including post-effective amendments, and
all material incorporated by reference or deemed to be incorporated by reference in such
Prospectus.

          Purchase Agreement: See the introductory paragraphs hereto.

          Records: See Section 5(m) hereof.

          Registrable Notes: Each Note upon its original issuance and at all times subsequent
thereto, each Exchange Note as to which Section 2(c)(iv) hereof is applicable upon original
issuance and at all times subsequent thereto and each Private Exchange Note upon original issuance
thereof and at all times subsequent thereto, until the earliest to occur of (i) a Registration
Statement (other than, with respect to any Exchange Note as to which Section 2(c)(iv) hereof is
applicable, the Exchange Offer Registration Statement) covering such Note, Exchange Note or Private
Exchange Note has been declared effective by the SEC and such Note, Exchange Note or such Private
Exchange Note, as the case may be, has been disposed of in accordance with such effective
Registration Statement, (ii) such Note has been exchanged pursuant to the Exchange Offer for an
Exchange Note or Exchange Notes that may be resold (or, but for the status of such Holder as an
affiliate of the Issuers under Rule 405, could be resold) without restriction under state and
federal securities laws, (iii) such Note, Exchange Note or Private Exchange Note, as the case may
be, ceases to be outstanding for purposes of the Indenture or (iv) such Note, Exchange Note or
Private Exchange Note, as the case may be, may be resold without restriction pursuant to Rule 144
(as amended or replaced) under the Securities Act and if requested by the Holder the restrictive
legend has been removed.

          Registrable Securities: Each Registrable Note and related guarantees.

-3-

 

          Registration Statement: Any registration statement of the Issuers that covers any of
the Securities, the Exchange Notes (and related guarantees) or the Private Exchange Notes (and
related guarantees) filed with the SEC under the Securities Act, including the Prospectus,
amendments and supplements to such registration statement, including post-effective amendments, all
exhibits, and all material incorporated by reference or deemed to be incorporated by reference in
such registration statement.

          Rule 144: Rule 144 promulgated under the Securities Act, as such Rule may be amended
from time to time, or any similar rule (other than Rule 144A) or regulation hereafter adopted by
the SEC providing for offers and sales of securities made in compliance therewith resulting in
offers and sales by subsequent holders that are not affiliates of the issuer of such securities
being free of the registration and prospectus delivery requirements of the Securities Act.

          Rule 144A: Rule 144A promulgated under the Securities Act, as such Rule may be
amended from time to time, or any similar rule (other than Rule 144) or regulation hereafter
adopted by the SEC.

          Rule 405: Rule 405 under the Securities Act.

          Rule 415: Rule 415 promulgated under the Securities Act, as such Rule may be amended
from time to time, or any similar rule or regulation hereafter adopted by the SEC.

          SEC: The Securities and Exchange Commission.

          Securities: See the introductory paragraphs hereto.

          Securities Act: The Securities Act of 1933, as amended, and the rules and regulations
of the SEC promulgated thereunder.

          Shelf Notice: See Section 2(c) hereof.

          Shelf Registration Statement: See Section 3(b) hereof.

          Subsequent Shelf Registration Statement: See Section 3(b) hereof.

          TIA: The Trust Indenture Act of 1939, as amended.

          Trustee: The trustee under the Indenture and the trustee (if any) under any indenture
governing the Exchange Notes (and related guarantees) and Private Exchange Notes (and related
guarantees).

          Underwritten registration or underwritten offering: A registration in which
securities of one or more of the Issuers are sold to an underwriter for reoffering to the public.

          WKSI: A “well known seasoned issuer” as defined in Rule 405.

-4-

 

     2. Exchange Offer

          (a) The Issuers shall file with the SEC, no later than the Filing Date, a Registration
Statement (the “Exchange Offer Registration Statement”) on an appropriate registration form
with respect to a registered offer (the “Exchange Offer”) to exchange any and all of the
Registrable Securities for a like aggregate principal amount of notes of the Company, guaranteed by
the Guarantors, that are identical in all material respects to the Securities, except that the
Exchange Notes shall contain no restrictive legend thereon and no provision for payment of
additional interest in the event of a registration default (the “Exchange Notes”), and
which are entitled to the benefits of the Indenture or a trust indenture which is identical in all
material respects to the Indenture (other than such changes to the Indenture or any such identical
trust indenture as are necessary to comply with the TIA) and which, in either case, has been
qualified under the TIA. Interest on each Exchange Note will accrue (A) from the later of (1) the
last interest payment date on which interest was paid on the Note surrendered, or (2) if the Note
is surrendered for exchange on a date in a period which includes the record date for an interest
payment date to occur on or after the date of the exchange and as to which interest will be paid,
such interest payment date or (B) if no interest has been paid on that Note, from the Issue Date.
The Exchange Offer shall comply with all applicable tender offer rules and regulations under the
Exchange Act and other applicable laws. The Issuers shall use their reasonable best efforts to (x)
cause the Exchange Offer Registration Statement to be declared effective under the Securities Act
on or before the Effectiveness Date; (y) keep the Exchange Offer open for acceptance for not less
than 30 days (or longer if required by applicable law) after the date that notice of the Exchange
Offer is mailed to Holders; and (z) consummate the Exchange Offer on or before November 30, 2010.
If, after the Exchange Offer Registration Statement is initially declared effective by the SEC, the
Exchange Offer or the issuance of the Exchange Notes (and related guarantees) thereunder is
interfered with by any stop order, injunction or other order or requirement of the SEC or any other
governmental agency or court, the Exchange Offer Registration Statement shall be deemed not to have
become effective for purposes of this Agreement.

          Each Holder that participates in the Exchange Offer will be required, as a condition to its
participation in the Exchange Offer, to represent to the Company in writing (which may be contained
in the applicable letter of transmittal) (1) that any Exchange Notes (and related guarantees) to be
received by it will be acquired in the ordinary course of its business, (2) that at the time of the
consummation of the Exchange Offer such Holder will have no arrangement or understanding with any
Person to participate in the distribution of the Exchange Notes (and related guarantees) in
violation of the provisions of the Securities Act, (3) that such Holder is not an
“affiliate” (as defined in Rule 405 promulgated under the Securities Act) of any Issuer,
(4) if the holder is not a broker-dealer, that it is not engaged in, and does not intend to engage
in, the distribution of Exchange Notes (and related guarantees) and (5) if the holder is a
broker-dealer (a “Participating Broker-Dealer”) that it will receive the Exchange Notes
(and related guarantees) for its own account in exchange for Securities that were acquired as a
result of market-making or other trading activities, and that it will deliver a prospectus in
connection with any resale of the Exchange Notes (and related guarantees).

          Upon consummation of the Exchange Offer in accordance with this Section 2, the provisions of
this Agreement shall continue to apply, mutatis mutandis, solely with respect to

-5-

 

Registrable Securities that are Private Exchange Notes (and related guarantees), Exchange
Notes (and related guarantees) as to which Section 2(c)(iv) is applicable and Exchange Notes (and
related guarantees) held by Participating Broker-Dealers, and the Issuers shall have no further
obligation to register Registrable Securities (other than Private Exchange Notes (and related
guarantees) and other than in respect of any Exchange Notes (and related guarantees) as to which
clause 2(c)(iv) hereof applies) pursuant to Section 3 hereof.

          No securities other than the Exchange Notes (and related guarantees) shall be included in the
Exchange Offer Registration Statement; provided, however that if the Company issues under the
Indenture additional 6.950% Senior Notes due 2018 (and related guarantees) that are identical in
all material respects to the Notes and have the same CUSIP number as the Notes (“Additional
Notes”), the Company may include in the Exchange Offer Registration Statement a like aggregate
principal amount of notes of the Company, guaranteed by the Guarantors, that are identical in all
material respects to the Additional Notes, except that such notes shall contain no restrictive
legend thereon and no provision for payment of additional interest in the event of a registration
default. The period of resale restrictions applicable to any Notes previously offered and sold in
reliance on Rule 144A under the Securities Act shall automatically be extended to the last day of
the period of any resale restrictions imposed on such Additional Notes.

          (b) The Issuers shall include within the Prospectus contained in the Exchange Offer
Registration Statement a section entitled “Plan of Distribution,” reasonably acceptable to the
Representatives, which shall contain a summary statement of the positions taken or policies made by
the staff of the SEC with respect to the potential “underwriter” status of any Participating
Broker-Dealer that is the beneficial owner (as defined in Rule 13d-3 under the Exchange Act) of
Exchange Notes received by such Participating Broker-Dealer in the Exchange Offer, whether such
positions or policies have been publicly disseminated by the staff of the SEC or such positions or
policies represent the prevailing views of the staff of the SEC. Such “Plan of Distribution”
section shall also expressly permit, to the extent permitted by applicable policies and regulations
of the SEC, the use of the Prospectus by all Persons subject to the prospectus delivery
requirements of the Securities Act with respect to the Exchange Notes, including, to the extent
permitted by applicable policies and regulations of the SEC, all Participating Broker-Dealers, and
include a statement describing the means by which Participating Broker-Dealers may resell the
Exchange Notes in compliance with the Securities Act.

          The Issuers shall use their best efforts to keep the Exchange Offer Registration Statement
effective and to amend and supplement the Prospectus contained therein in order to permit such
Prospectus to be lawfully delivered by all Persons subject to the prospectus delivery requirements
of the Securities Act with respect to the Exchange Notes for such period of time as is necessary to
comply with applicable law in connection with any resale of the Exchange Notes covered thereby;
provided, however, that such period shall not exceed 180 days after such Exchange
Offer Registration Statement is declared effective (or such longer period if extended pursuant to
the last paragraph of Section 5 hereof) (the “Applicable Period”).

          If, prior to consummation of the Exchange Offer, any Holder holds any Registrable Securities
acquired by it that have, or that are reasonably likely to be determined to have, the status of an
unsold allotment in an initial distribution, or any Holder is not entitled to

-6-

 

participate in the Exchange Offer, the Issuers upon the request of any such Holder shall
simultaneously with the delivery of the Exchange Notes in the Exchange Offer, issue and deliver to
any such Holder, in exchange (the “Private Exchange”) for such Registrable Securities held
by any such Holder, a like principal amount of notes (the “Private Exchange Notes”) of the
Company, guaranteed by the Guarantors, that are identical in all material respects to the Exchange
Notes except for the placement of a restrictive legend on such Private Exchange Notes. The Private
Exchange Notes shall be issued pursuant to the same indenture as the Exchange Notes and bear the
same CUSIP number as the Exchange Notes.

          In connection with the Exchange Offer, the Issuers shall:

     (i) mail, or cause to be mailed, to each Holder of record entitled to
participate in the Exchange Offer a copy of the Prospectus forming part of the
Exchange Offer Registration Statement, together with an appropriate letter of
transmittal and related documents;

     (ii) use their best efforts to keep the Exchange Offer open for acceptance for
not less than 30 days after the date that notice of the Exchange Offer is mailed to
Holders (or longer if required by applicable law);

     (iii) utilize the services of a depositary for the Exchange Offer with an
address in the Borough of Manhattan, The City of New York;

     (iv) permit Holders to withdraw tendered Securities at any time prior to the
close of business, New York time, on the last business day on which the Exchange
Offer shall remain open; and

     (v) otherwise comply in all material respects with all laws, rules and
regulations applicable to the Exchange Offer.

          As soon as practicable after the close of the Exchange Offer and the Private Exchange, if any,
the Issuers shall:

     (vi) accept for exchange all Registrable Securities that are validly tendered
and not validly withdrawn pursuant to the Exchange Offer and the Private Exchange,
if any;

     (vii) deliver to the Trustee for cancellation all Registrable Securities so
accepted for exchange; and

     (viii) cause the Trustee to authenticate and deliver promptly to each Holder of
Securities that are accepted for exchange, Exchange Notes or Private Exchange Notes
(and related guarantees), as the case may be, equal in principal amount to the
Securities of such Holder so accepted for exchange.

          The Exchange Notes (and related guarantees) and the Private Exchange Notes (and related
guarantees) shall be issued under (i) the Indenture or (ii) an indenture identical in all material
respects to the Indenture and which, in either case, has been qualified under the TIA or

-7-

 

is exempt from such qualification and shall provide that the Exchange Notes (and related
guarantees) shall not be subject to the transfer restrictions set forth in the Indenture. The
Indenture or such indenture shall provide that the Exchange Notes (and related guarantees), the
Private Exchange Notes (and related guarantees) and the Securities shall vote and consent together
on all matters as one class and that none of the Exchange Notes (and related guarantees), the
Private Exchange Notes (and related guarantees) or the Securities will have the right to vote or
consent as a separate class on any matter.

          (c) If, (i) because of any change in law or in currently prevailing interpretations by the SEC
staff, the Issuers are not permitted to effect the Exchange Offer, (ii) the Exchange Offer is not
consummated by November 30, 2010, (iii) in certain circumstances, certain holders of Private
Exchange Notes (and related guarantees) so request in writing to the Company, or (iv) in the case
of any Holder that tenders Securities in response to the Exchange Offer, such Holder does not
receive Exchange Notes on the date of the exchange that may be sold without restriction under state
and federal securities laws (other than due solely to the status of such Holder as an affiliate of
any of the Issuers within the meaning of the Securities Act), then in the case of each of clauses
(i) to and including (iv) of this sentence, the Issuers shall (a) promptly deliver to the Holders
and the Trustee written notice thereof (the “Shelf Notice”) and (b) at its sole expense and
as promptly as practicable shall file a Shelf Registration Statement pursuant to Section 3 hereof.

          Notwithstanding anything in this Agreement to the contrary, if (i) a Filing Date or
Effectiveness Date (or other date by which a filing is to be made or become effective) would fall
on a day that is not a Business Day or (ii) the date by which the Exchange Offer is to be
consummated would fall on a day that is not a Business Day, such Filing Date, Effectiveness Date
(or other date by which a filing is to be made or become effective) or consummation date shall
instead be the next succeeding Business Day.

     3. Shelf Registration

          If at any time a Shelf Notice is delivered as contemplated by Section 2(c) hereof, then:

          (a) Shelf Registration. The Issuers shall file with the SEC a Registration Statement
for an offering to be made on a continuous basis pursuant to Rule 415 covering all of the
Registrable Securities not exchanged in the Exchange Offer, Private Exchange Notes (and related
guarantees) and Exchange Notes (and related guarantees) as to which Section 2(c)(iv) is applicable
(the “Initial Shelf Registration Statement”), which Initial Shelf Registration Statement
shall be an Automatic Shelf Registration Statement if the Company is then a WKSI and there is no
other reason the Company is not permitted to file the Initial Shelf Registration Statement as an
Automatic Shelf Registration Statement. The Company shall use its best efforts to file with the
SEC the Initial Shelf Registration Statement on or before the applicable Filing Date. The Initial
Shelf Registration Statement shall be on Form S-3 or another appropriate form permitting
registration of such Registrable Securities for resale by Holders in the manner or manners
designated by them (including, without limitation, one or more underwritten offerings). The
Issuers shall not permit any securities other than the Registrable Securities to be included in the
Initial Shelf Registration Statement or any Subsequent Shelf Registration Statement (as defined

-8-

 

below); provided, however that if the Company issues Additional Notes, the Company may include
the Additional Notes in the Initial Shelf Registration Statement or any Subsequent Shelf
Registration Statement.

          If the Initial Shelf Registration Statement is not an Automatic Shelf Registration Statement,
the Issuers shall use their best efforts to cause the Initial Shelf Registration Statement to be
declared effective under the Securities Act on or before the Effectiveness Date. The Issuers shall
use their best efforts to keep the Initial Shelf Registration Statement continuously effective
under the Securities Act until the date which is two years from the Issue Date (the
“Effectiveness Period”), or such shorter period ending when (i) all Registrable Securities
covered by the Initial Shelf Registration Statement have been sold in the manner set forth and as
contemplated in the Initial Shelf Registration Statement or (ii) a Subsequent Shelf Registration
Statement covering all of the Registrable Securities covered by and not sold under the Initial
Shelf Registration Statement or an earlier Subsequent Shelf Registration Statement has been
declared effective under the Securities Act; provided, however, that the
Effectiveness Period in respect of the Initial Shelf Registration Statement shall be extended to
the extent required to permit dealers to comply with the applicable prospectus delivery
requirements of Rule 174 under the Securities Act and as otherwise provided herein.

          (b) Subsequent Shelf Registrations. If the Initial Shelf Registration Statement or
any Subsequent Shelf Registration Statement ceases to be effective for any reason at any time
during the Effectiveness Period (other than because of the sale of all of the securities registered
thereunder), the Company shall use its best efforts to obtain the prompt withdrawal of any order
suspending the effectiveness thereof, and in any event shall within 30 days of such cessation of
effectiveness amend the Initial Shelf Registration Statement in a manner to obtain the withdrawal
of the order suspending the effectiveness thereof, or file an additional “shelf” Registration
Statement pursuant to Rule 415 covering all of the Registrable Securities covered by and not sold
under the Initial Shelf Registration Statement or an earlier Subsequent Shelf Registration
Statement (each, a “Subsequent Shelf Registration Statement”). If a Subsequent Shelf
Registration Statement is filed and is not an Automatic Shelf Registration Statement, the Company
shall use its best efforts to cause the Subsequent Shelf Registration Statement to be declared
effective under the Securities Act as soon as practicable after such filing. The Company shall use
its best efforts to keep any subsequent Shelf Registration Statement continuously effective for a
period equal to the number of days in the Effectiveness Period less the aggregate number of days
during which the Initial Shelf Registration Statement or any other Subsequent Shelf Registration
Statement was previously continuously effective. As used herein the term “Shelf Registration
Statement” means the Initial Shelf Registration Statement and any Subsequent Shelf Registration
Statement.

          (c) Supplements and Amendments. The Issuers shall promptly supplement and amend any
Shelf Registration Statement if required by the rules, regulations or instructions applicable to
the registration form used for such Shelf Registration Statement, if required by the Securities
Act, or if reasonably requested by the Holders of a majority in aggregate principal amount of the
Registrable Securities (or their counsel) covered by such Registration Statement or by any
underwriter of such Registrable Securities.

-9-

 

     4. Additional Interest

          (a) The Issuers and the Representatives agree that the Holders will suffer damages if the
Issuers fail to fulfill their obligations under Section 2 or Section 3 hereof and that it would not
be feasible to ascertain the extent of such damages with precision. Accordingly, the Issuers agree
to pay, as liquidated damages, additional interest on the Notes (“Additional Interest”)
under the circumstances and to the extent set forth below (each of which shall be given independent
effect):

     (i) if (A) neither the Exchange Offer Registration Statement nor the Initial
Shelf Registration Statement has been filed with the SEC on or before the applicable
Filing Date or (B) notwithstanding that the Issuers have consummated or will
consummate the Exchange Offer, the Issuers are required to file a Shelf Registration
Statement and such Shelf Registration Statement has not been filed with the SEC on
or before the Filing Date applicable thereto, then, commencing on the day after any
such Filing Date, Additional Interest shall accrue on the principal amount of the
Securities at a rate of 0.25% per annum for the first 90 days immediately following
each such Filing Date, and such Additional Interest rate shall increase by an
additional 0.25% per annum at the beginning of each subsequent 90-day period; or

     (ii) if (A) neither the Exchange Offer Registration Statement nor the Initial
Shelf Registration Statement has been declared effective by the SEC (or was
automatically effectively upon its filing with the SEC) on or before the applicable
Effectiveness Date or (B) notwithstanding that the Issuers have consummated or will
consummate the Exchange Offer, the Issuers are required to file a Shelf Registration
Statement and such Shelf Registration Statement has not been declared effective by
the SEC (or was not automatically effective upon its filing with the SEC) on or
before the applicable Effectiveness Date with respect to such Shelf Registration
Statement, then, commencing on the day after such Effectiveness Date, Additional
Interest shall accrue on the principal amount of the Securities at a rate of 0.25%
per annum for the first 90 days immediately following the day after such
Effectiveness Date, and such Additional Interest rate shall increase by an
additional 0.25% per annum at the beginning of each subsequent 90-day period; or

     (iii) if (A) the Issuers have not exchanged Exchange Notes (and related
guarantees) for all Registrable Securities validly tendered in accordance with the
terms of the Exchange Offer on or before November 30, 2010 or (B) if applicable, a
Shelf Registration Statement has been declared effective and such Shelf Registration
Statement ceases to be effective at any time during the Effectiveness Period, then,
Additional Interest shall accrue on the principal amount of the Securities at a rate
of 0.25% per annum for the first 90 days commencing on (x) December 1, 2010, in the
case of (A) above, or (y) the day such Shelf Registration Statement ceases to be
effective in the case of (B) above, and such Additional Interest rate shall increase
by an additional 0.25% per annum at the beginning of each such subsequent 90-day
period;

-10-

 

provided, however, that Additional Interest on the Notes may not under any
circumstance accrue under more than one of the foregoing clauses (i), (ii) and (iii) of this
Section 4(a) and the rate at which Additional Interest accrues on the Notes as a result of the
provisions of clauses (i), (ii) and (iii) of this Section 4(a) may not exceed in the aggregate 1.0%
per annum; provided further, that (1) upon the filing of the applicable Exchange
Offer Registration Statement or the applicable Shelf Registration Statement as required hereunder
(in the case of clause (i) of this Section 4(a)), (2) upon the effectiveness of the Exchange Offer
Registration Statement or the applicable Shelf Registration Statement as required hereunder (in the
case of clause (ii) of this Section 4(a)), or (3) upon the exchange of the Exchange Notes (and
related guarantees) for all Securities tendered (in the case of clause (iii)(A) of this Section
4(a)), or upon the effectiveness of a Subsequent Shelf Registration Statement in the case of Shelf
Registration Statement which had ceased to remain effective (in the case of clause (iii)(B) of this
Section 4(a)), Additional Interest on the Registrable Notes as a result of such clause (or the
relevant subclause thereof), as the case may be, shall cease to accrue.

          (b) The Issuers shall notify the Trustee within three business days after each and every date
on which an event occurs in respect of which Additional Interest is required to be paid (an
“Event Date”), which notice shall also be at least three business days prior to the date of
any payment to be made in accordance with the following sentence. Any amounts of Additional
Interest due pursuant to (a)(i), (a)(ii) or (a)(iii) of this Section 4 will be payable in cash
simultaneously with, and to the same persons entitled to receive, stated interest on the Notes,
commencing with the first such payment of interest occurring after any such Additional Interest
commences to accrue. The amount of Additional Interest payable with respect to Registrable Notes
will be determined by multiplying the applicable Additional Interest rate by the principal amount
of the Registrable Notes, multiplied by a fraction, the numerator of which is the number of days
such Additional Interest rate was applicable during such period (determined on the basis of a
360-day year comprised of twelve 30-day months and, in the case of a partial month, the actual
number of days elapsed), and the denominator of which is 360.

     5. Registration Procedures

          In connection with the filing of any Registration Statement pursuant to Sections 2 or 3
hereof, the Issuers shall effect such registrations to permit the sale of the securities covered
thereby in accordance with the intended method or methods of disposition thereof, and pursuant
thereto and in connection with any Registration Statement filed by the Issuers hereunder each of
the Issuers shall:

          (a) Prepare and file with the SEC before the applicable Filing Date, a Registration Statement
or Registration Statements as prescribed by Sections 2 or 3 hereof, and use its best efforts to
cause each such Registration Statement to become effective and remain effective as provided herein;
provided, however, that, if (1) such filing is pursuant to Section 3 hereof, or (2)
a Prospectus contained in the Exchange Offer Registration Statement filed pursuant to Section 2
hereof is required to be delivered under the Securities Act by any Participating Broker-Dealer who
seeks to sell Exchange Notes (and related guarantees) during the Applicable Period relating
thereto, before filing any Registration Statement or Prospectus or any amendments or supplements
thereto, the Issuers shall furnish to and afford the Holders of the Registrable Securities included
in such Registration Statement or each such Participating Broker-

-11-

 

Dealer, as the case may be, their counsel and the managing underwriters, if any, a reasonable
opportunity to review copies of all such documents (including copies of any documents to be
incorporated by reference therein and all exhibits thereto) proposed to be filed (in each case at
least five days prior to such filing, or such later date as is reasonable under the circumstances).
The Issuers shall not file any Registration Statement or Prospectus or any amendments or
supplements thereto if the Holders of a majority in aggregate principal amount of the Registrable
Securities included in such Registration Statement, or any such Participating Broker-Dealer, as the
case may be, their counsel, or the managing underwriters, if any, shall reasonably object.

          (b) Prepare and file with the SEC such amendments and post-effective amendments to each Shelf
Registration Statement or Exchange Offer Registration Statement, as the case may be, as may be
necessary to keep such Registration Statement continuously effective for the Effectiveness Period
or the Applicable Period, as the case may be; cause the related Prospectus to be supplemented by
any Prospectus supplement required by applicable law, and as so supplemented to be filed pursuant
to Rule 424 (or any similar provisions then in force) promulgated under the Securities Act; and
comply with the provisions of the Securities Act and the Exchange Act applicable to each of them
with respect to the disposition of all securities covered by such Registration Statement as so
amended or in such Prospectus as so supplemented and with respect to the subsequent resale of any
securities being sold by a Participating Broker-Dealer covered by any such Prospectus. The Issuers
shall be deemed not to have used their best efforts to keep a Registration Statement effective
during the Effectiveness Period or the Applicable Period, as the case may be, relating thereto, if
any of the Issuers voluntarily takes any action that would result in selling Holders of the
Registrable Securities covered thereby or Participating Broker-Dealers seeking to sell Exchange
Notes (and related guarantees) not being able to sell such Registrable Securities or such Exchange
Notes (and related guarantees) during that period unless such action is required by applicable law
or permitted by this Agreement.

          (c) If (1) a Shelf Registration Statement is filed pursuant to Section 3 hereof, or (2) a
Prospectus contained in the Exchange Offer Registration Statement filed pursuant to Section 2
hereof is required to be delivered under the Securities Act by any Participating Broker-Dealer who
seeks to sell Exchange Notes (and related guarantees) during the Applicable Period relating thereto
from whom any of the Issuers has received written notice that it will be a Participating
Broker-Dealer in the Exchange Offer, notify the selling Holders of Registrable Securities, or each
such Participating Broker-Dealer, as the case may be, their counsel and the managing underwriters,
if any, promptly (but in any event within one day), and confirm such notice in writing, (i) when a
Prospectus or any Prospectus supplement or post-effective amendment has been filed, and, with
respect to a Registration Statement or any post-effective amendment, when the same has become
effective under the Securities Act (including in such notice a written statement that any Holder
may, upon request, obtain, at the sole expense of the Issuers, one conformed copy of such
Registration Statement or post-effective amendment including financial statements and schedules,
documents incorporated or deemed to be incorporated by reference and exhibits), (ii) of the
issuance by the SEC of any stop order suspending the effectiveness of a Registration Statement or
of any order preventing or suspending the use of any preliminary prospectus or the initiation of
any proceedings for that purpose, (iii) if at any time when a prospectus is required by the
Securities Act to be delivered in connection with sales of the Registrable Securities or resales of
Exchange Notes (and related guarantees) by Participating Broker-Dealers, the representations and
warranties of the Issuers

-12-

 

contained in any agreement (including any underwriting agreement) contemplated by Section 5(l)
hereof cease to be true and correct in all material respects, (iv) of the receipt by any of the
Issuers of any notification with respect to the suspension of the qualification or exemption from
qualification of a Registration Statement or any of the Registrable Securities or the Exchange
Notes (and related guarantees) to be sold by any Participating Broker-Dealer for offer or sale in
any jurisdiction, or the initiation or threatening of any proceeding for such purpose, (v) of the
happening of any event, the existence of any condition or any information becoming known that makes
any statement made in such Registration Statement or related Prospectus or any document
incorporated or deemed to be incorporated therein by reference untrue in any material respect or
that requires the making of any changes in or amendments or supplements to such Registration
Statement, Prospectus or documents so that, in the case of the Registration Statement, it will not
contain any untrue statement of a material fact or omit to state any material fact required to be
stated therein or necessary to make the statements therein not misleading, and that in the case of
the Prospectus, it will not contain any untrue statement of a material fact or omit to state any
material fact required to be stated therein or necessary to make the statements therein, in light
of the circumstances under which they were made, not misleading, and (vi) of the Issuers’
determination that a post-effective amendment to a Registration Statement would be appropriate.

          (d) If (1) a Shelf Registration Statement is filed pursuant to Section 3 hereof, or (2) a
Prospectus contained in the Exchange Offer Registration Statement filed pursuant to Section 2
hereof is required to be delivered under the Securities Act by any Participating Broker-Dealer who
seeks to sell Exchange Notes (and related guarantees) during the Applicable Period, use its best
efforts to prevent the issuance of any order suspending the effectiveness of the Registration
Statement or of any order preventing or suspending the use of the Prospectus or suspending the
qualification (or exemption from qualification) of any of the Registrable Securities or the
Exchange Notes (and related guarantees) to be sold by any Participating Broker-Dealer, for sale in
any jurisdiction, and, if any such order is issued, to use its best efforts to obtain the
withdrawal of any such order at the earliest possible moment.

          (e) If a Shelf Registration Statement is filed pursuant to Section 3 and if requested by the
managing underwriter or underwriters (if any), the Holders of a majority in aggregate principal
amount of the Registrable Securities being sold in connection with an underwritten offering or any
Participating Broker-Dealer, (i) as promptly as practicable incorporate in a prospectus supplement
or post-effective amendment such information as the managing underwriter or underwriters (if any),
such Holders, any Participating Broker-Dealer or counsel for any of them reasonably request to be
included therein, (ii) make all required filings of such prospectus supplement or such
post-effective amendment as soon as practicable after the Company has received notification of the
matters to be incorporated in such prospectus supplement or post-effective amendment, and (iii)
supplement or make amendments to such Registration Statement.

          (f) If (1) a Shelf Registration Statement is filed pursuant to Section 3 hereof, or (2) a
Prospectus contained in the Exchange Offer Registration Statement filed pursuant to Section 2
hereof is required to be delivered under the Securities Act by any Participating Broker-Dealer who
seeks to sell Exchange Notes (and related guarantees) during the Applicable Period, furnish to each
selling Holder of Registrable Securities and to each such Participating Broker-Dealer who so
requests and to their respective counsel and each managing underwriter, if any, at

-13-

 

the sole expense of the Issuers, one conformed copy of the Registration Statement or
Registration Statements and each post-effective amendment thereto, including financial statements
and schedules, and, if requested, all documents incorporated or deemed to be incorporated therein
by reference and all exhibits.

          (g) If (1) a Shelf Registration Statement is filed pursuant to Section 3 hereof, or (2) a
Prospectus contained in the Exchange Offer Registration Statement filed pursuant to Section 2
hereof is required to be delivered under the Securities Act by any Participating Broker-Dealer who
seeks to sell Exchange Notes (and related guarantees) during the Applicable Period, deliver to each
selling Holder of Registrable Securities, or each such Participating Broker-Dealer, as the case may
be, their respective counsel, and the underwriters, if any, at the sole expense of the Issuers, as
many copies of the Prospectus or Prospectuses (including each form of preliminary prospectus) and
each amendment or supplement thereto and any documents incorporated by reference therein as such
Persons may reasonably request; and, subject to the last paragraph of this Section 5, the Issuers
hereby consent to the use of such Prospectus and each amendment or supplement thereto by each of
the selling Holders of Registrable Securities or each such Participating Broker-Dealer, as the case
may be, and the underwriters or agents, if any, and dealers, if any, in connection with the
offering and sale of the Registrable Securities covered by, or the sale by Participating
Broker-Dealers of the Exchange Notes (and related guarantees) pursuant to, such Prospectus and any
amendment or supplement thereto.

          (h) Prior to any public offering of Registrable Securities or Exchange Notes (and related
guarantees) or any delivery of a Prospectus contained in the Exchange Offer Registration Statement
by any Participating Broker-Dealer who seeks to sell Exchange Notes (and related guarantees) during
the Applicable Period, use its best efforts to register or qualify, and to cooperate with the
selling Holders of Registrable Securities or each such Participating Broker-Dealer, as the case may
be, the managing underwriter or underwriters, if any, and their respective counsel in connection
with the registration or qualification (or exemption from such registration or qualification) of
such Registrable Securities for offer and sale under the securities or Blue Sky laws of such
jurisdictions within the United States as any selling Holder, Participating Broker-Dealer, or the
managing underwriter or underwriters reasonably request in writing; provided,
however, that where Exchange Notes (and related guarantees) held by Participating
Broker-Dealers or Registrable Securities are offered other than through an underwritten offering,
the Issuers agree to cause their counsel to perform Blue Sky investigations and file registrations
and qualifications required to be filed pursuant to this Section 5(h), keep each such registration
or qualification (or exemption therefrom) effective during the period such Registration Statement
is required to be kept effective and do any and all other acts or things reasonably necessary or
advisable to enable the disposition in such jurisdictions of the Exchange Notes (and related
guarantees) held by Participating Broker-Dealers or the Registrable Securities covered by the
applicable Registration Statement; provided, however, that none of the Issuers
shall be required to (A) qualify generally to do business in any jurisdiction where it is not then
so qualified, (B) take any action that would subject it to general service of process in any such
jurisdiction where it is not then so subject or (C) subject itself to taxation in excess of a
nominal dollar amount in any such jurisdiction where it is not then so subject.

          (i) If a Shelf Registration Statement is filed pursuant to Section 3 hereof, cooperate with
the selling Holders of Registrable Securities and the managing underwriter or

-14-

 

underwriters, if any, to facilitate the timely preparation and delivery of certificates
representing Registrable Notes to be sold, which certificates shall not bear any restrictive
legends and shall be in a form eligible for deposit with The Depository Trust Company; and enable
such Registrable Notes to be in such denominations permitted by the Indenture and registered in
such names as the managing underwriter or underwriters, if any, or Holders may request; provided,
however, that if the Registrable Notes are also transferable by delivery through means other than
on the records of The Depository Trust Company or another clearing agency, in which case such
preparation and delivery of certificates representing the Registrable Notes shall not be required.

          (j) If (1) a Shelf Registration Statement is filed pursuant to Section 3 hereof, or (2) a
Prospectus contained in the Exchange Offer Registration Statement filed pursuant to Section 2
hereof is required to be delivered under the Securities Act by any Participating Broker-Dealer who
seeks to sell Exchange Notes (and related guarantees) during the Applicable Period, upon the
occurrence of any event contemplated by paragraph 5(c)(v) or 5(c)(vi) hereof, as promptly as
practicable prepare and (subject to Section 5(a) hereof) file with the SEC, at the sole expense of
the Issuers, a supplement or post-effective amendment to the Registration Statement or a supplement
to the related Prospectus or any document incorporated or deemed to be incorporated therein by
reference, or file any other required document so that, as thereafter delivered to the purchasers
of the Registrable Securities being sold thereunder or to the purchasers of the Exchange Notes (and
related guarantees) to whom such Prospectus will be delivered by a Participating Broker-Dealer, any
such Prospectus will not contain an untrue statement of a material fact or omit to state a material
fact required to be stated therein or necessary to make the statements therein, in light of the
circumstances under which they were made, not misleading.

          (k) Prior to the effective date of the first Registration Statement relating to the
Registrable Securities, (i) provide the Trustee with certificates for the Registrable Notes in a
form eligible for deposit with The Depository Trust Company and (ii) provide a CUSIP number for the
Registrable Notes.

          (l) In connection with any underwritten offering of Registrable Securities pursuant to a Shelf
Registration Statement, enter into an underwriting agreement which is customary in underwritten
offerings of debt securities similar to the Securities in form and substance reasonably
satisfactory to the Issuers and take all such other actions as are reasonably requested by the
managing underwriter or underwriters in order to expedite or facilitate the registration or the
disposition of such Registrable Securities and, in such connection, (i) make such representations
and warranties to, and covenants with, the underwriters with respect to the business of the Issuers
(including any acquired business, properties or entity, if applicable) and the Registration
Statement, the Prospectus and the documents, if any, incorporated or deemed to be incorporated by
reference therein, in each case, as are customarily made by issuers to underwriters in underwritten
offerings of debt securities similar to the Securities, and confirm the same in writing if and when
requested in form and substance reasonably satisfactory to the Issuers; (ii) obtain the written
opinions of counsel to the Issuers and written updates thereof in form, scope and substance
reasonably satisfactory to the managing underwriter or underwriters, addressed to the underwriters
covering the matters customarily covered in opinions reasonably requested in underwritten offerings
and such other matters as may be reasonably requested by the managing underwriter or underwriters;
(iii) obtain “cold comfort” letters and updates thereof in

-15-

 

form, scope and substance reasonably satisfactory to the managing underwriter or underwriters
from the independent certified public accountants of the Issuers (and, if necessary, any other
independent certified public accountants of the Issuers, or of any business or entity acquired by
the Issuers for which financial statements and financial data are, or are required to be, included
or incorporated by reference in the Registration Statement), addressed to each of the underwriters,
such letters to be in customary form and covering matters of the type customarily covered in “cold
comfort” letters in connection with underwritten offerings of debt securities similar to the
Securities and such other matters as are reasonably requested by the managing underwriter or
underwriters as permitted by the Statement on Auditing Standards No. 72, as amended by the
Statement on Auditing Standards No. 76; and (iv) if an underwriting agreement is entered into, the
same shall contain indemnification provisions and procedures no less favorable to the sellers and
underwriters, if any, than those set forth in Section 7 hereof (or such other provisions and
procedures acceptable to Holders of a majority in aggregate principal amount of Registrable
Securities covered by such Registration Statement and the managing underwriter or underwriters or
agents, if any). The above shall be done at each closing under such underwriting agreement, or as
and to the extent required thereunder.

          (m) If (1) a Shelf Registration Statement is filed pursuant to Section 3 hereof, or (2) a
Prospectus contained in the Exchange Offer Registration Statement filed pursuant to Section 2
hereof is required to be delivered under the Securities Act by any Participating Broker-Dealer who
seeks to sell Exchange Notes (and related guarantees) during the Applicable Period, make available
for inspection by any selling Holder of such Registrable Securities being sold, or each such
Participating Broker-Dealer, as the case may be, any underwriter participating in any such
disposition of Registrable Securities, if any, and any attorney, accountant or other agent retained
by any such selling Holder or each such Participating Broker-Dealer, as the case may be, or
underwriter (collectively, the “Inspectors”), at the offices where normally kept, during
reasonable business hours, all financial and other records, pertinent corporate documents and
instruments of the Issuers and subsidiaries of the Issuers (collectively, the “Records”) as
shall be reasonably necessary to enable them to exercise any applicable due diligence
responsibilities, and cause the officers, directors and employees of the Issuers and any of their
respective subsidiaries to supply all information reasonably requested by any such Inspector in
connection with such Registration Statement and Prospectus. Each Inspector shall agree in writing
that it will keep the Records confidential and that it will not disclose any of the Records that
any of the Issuers determines, in good faith, to be confidential and notifies the Inspectors in
writing are confidential unless (i) the disclosure of such Records is necessary to avoid or correct
a material misstatement or material omission in such Registration Statement or Prospectus, (ii) the
release of such Records is ordered pursuant to a subpoena or other order from a court of competent
jurisdiction, or (iii) the information in such Records has been made generally available to the
public; provided, however, that prior notice shall be provided as soon as
practicable to any of the Issuers of the potential disclosure of any information by such Inspector
pursuant to clauses (i) or (ii) of this sentence to permit the Issuers to obtain a protective order
(or waive the provisions of this paragraph (m)) and that such Inspector shall take such actions as
are reasonably necessary to protect the confidentiality of such information (if practicable) to the
extent such action is otherwise not inconsistent with, an impairment of or in derogation of the
rights and interests of the Holder or any Inspector. If, in the course of performing due
diligence, any Inspector becomes aware of material non public information about the Company and its
subsidiaries, the Inspector will not, and will take all steps reasonably necessary to ensure that
anyone to whom the

-16-

 

Inspector discloses the material non public information will not, trade in any securities of
the Company until the information becomes public (whether through inclusion in the Shelf
Registration Statement or Exchange Offer Registration Statement or otherwise) or the information
ceases to be material.

          (n) Provide an indenture trustee for the Registrable Securities or the Exchange Notes (and
related guarantees), as the case may be, and cause the Indenture or the trust indenture provided
for in Section 2(a) hereof, as the case may be, to be qualified under the TIA not later than the
effective date of the first Registration Statement relating to the Registrable Securities; and in
connection therewith, cooperate with the trustee under any such indenture and the Holders of the
Registrable Securities, to effect such changes to such indenture as may be required for such
indenture to be so qualified in accordance with the terms of the TIA; and execute, and use their
best efforts to cause such trustee to execute, all documents as may be required to effect such
changes, and all other forms and documents required to be filed with the SEC to enable such
indenture to be so qualified in a timely manner.

          (o) Comply in all material respects with all applicable rules and regulations of the SEC and
make generally available to its securityholders with regard to any applicable Registration
Statement, a consolidated earnings statement satisfying the provisions of Section 11(a) of the
Securities Act and Rule 158 thereunder (or any similar rule promulgated under the Securities Act)
no later than 45 days after the end of any fiscal quarter (or 90 days after the end of any 12-month
period if such period is a fiscal year) (i) commencing at the end of any fiscal quarter in which
Registrable Securities are sold to underwriters in a firm commitment or best efforts underwritten
offering and (ii) if not sold to underwriters in such an offering, commencing on the first day of
the first fiscal quarter of the Company after the effective date of a Registration Statement, which
statements shall cover said 12-month periods.

          (p) Upon consummation of the Exchange Offer or a Private Exchange, obtain an opinion of
counsel to the Company, in a form customary for underwritten transactions, addressed to the Trustee
for the benefit of all Holders of Registrable Securities participating in the Exchange Offer or the
Private Exchange, as the case may be, that the Exchange Notes (and related guarantees) or Private
Exchange Notes (and related guarantees), as the case may be, and the related indenture constitute
legal, valid and binding obligations of the Company, enforceable against it in accordance with
their respective terms, subject to customary exceptions and qualifications.

          (q) If the Exchange Offer or a Private Exchange is to be consummated, upon delivery of the
Registrable Securities by Holders to the Company (or to such other Person as directed by the
Issuers) to be exchanged for Exchange Notes (and related guarantees) or Private Exchange Notes (and
related guarantees), as the case may be, the Issuers shall mark, or cause to be marked, on such
Registrable Notes that such Registrable Notes are being canceled in exchange for Exchange Notes
(and related guarantees) or Private Exchange Notes (and related guarantees), as the case may be; in
no event shall such Registrable Notes be marked as paid or otherwise satisfied.

          (r) Cooperate with each seller of Registrable Securities covered by any Registration Statement
and each underwriter, if any, participating in the disposition of such

-17-

 

Registrable Securities and their respective counsel in connection with any filings required to
be made with the Financial Industry Regulatory Authority (“FINRA”).

          (s) Use its best efforts to take all other steps reasonably necessary to effect the
registration of the Exchange Notes (and related guarantees) and/or Registrable Securities covered
by a Registration Statement contemplated hereby.

          The Issuers may require each seller of Registrable Securities as to which any registration is
being effected to furnish to the Issuers such information regarding such seller and the
distribution of such Registrable Securities as the Issuers may, from time to time, reasonably
request. The Issuers may exclude from such registration the Registrable Securities of any seller
so long as such seller fails to furnish such information within a reasonable time after receiving
such request. Each seller as to which any Shelf Registration is being effected agrees to furnish
promptly to the Issuers all information required to be disclosed in order to make the information
previously furnished to the Issuers by such seller not materially misleading.

          If any Registration Statement refers to any Holder by name or otherwise as the holder of any
securities of the Company, then such Holder shall have the right to require (i) the insertion
therein of language, in form and substance reasonably satisfactory to such Holder, to the effect
that the holding by such Holder of such securities is not to be construed as a recommendation by
such Holder of the investment quality of the securities covered thereby and that such holding does
not imply that such Holder will assist in meeting any future financial requirements of the Company,
or (ii) in the event that such reference to such Holder by name or otherwise is not required by the
Securities Act or any similar federal statute then in force, the deletion of the reference to such
Holder in any amendment or supplement to the Registration Statement filed or prepared subsequent to
the time that such reference ceases to be required.

          Each Holder of Registrable Securities and each Participating Broker-Dealer agrees by its
acquisition of such Registrable Securities or of Exchange Notes (and related guarantees) to be sold
by such Participating Broker-Dealer, as the case may be, that, upon actual receipt of any notice
from the Company of the happening of any event of the kind described in Section 5(c)(ii), 5(c)(iv),
5(c)(v), or 5(c)(vi) hereof, such Holder will forthwith discontinue disposition of such Registrable
Securities covered by such Registration Statement or Prospectus or Exchange Notes (and related
guarantees) to be sold by such Holder or Participating Broker-Dealer, as the case may be, until
such Holder’s or Participating Broker-Dealer’s receipt of the copies of the supplemented or amended
Prospectus contemplated by Section 5(j) hereof, or until it is advised in writing (an
“Advice”) by the Issuers that the use of the applicable Prospectus may be resumed, and has
received copies of any amendments or supplements thereto. In the event that the Issuers shall give
any such notice, the Applicable Period shall be extended by the number of days from and including
the date of the giving of each such notice to and including the date when each seller of
Registrable Securities covered by such Registration Statement or Exchange Notes (and related
guarantees) to be sold by such Participating Broker-Dealer, as the case may be, shall have received
(x) the copies of the supplemented or amended Prospectus contemplated by Section 5(j) hereof or (y)
an Advice with respect to said notice.

-18-

 

     6. Registration Expenses

          All fees and expenses incident to the performance of or compliance with this Agreement by the
Issuers (other than any underwriting discounts or commissions) shall be borne by the Company
whether or not the Exchange Offer Registration Statement or any Shelf Registration Statement is
filed or becomes effective or the Exchange Offer is consummated, including, without limitation, (i)
all registration and filing fees (including, without limitation, (A) fees with respect to filings
required to be made with FINRA in connection with an underwritten offering and (B) reasonable fees
and expenses of compliance with state securities or Blue Sky laws (including, without limitation,
fees and disbursements of counsel in connection with Blue Sky qualifications of the Registrable
Securities or Exchange Notes (and related guarantees) and determination of the eligibility of the
Registrable Securities or Exchange Notes (and related guarantees) for investment under the laws of
the jurisdictions (x) where the holders of Registrable Securities are located, in the case of the
Exchange Notes (and related guarantees), or (y) as provided in Section 5(h) hereof, in the case of
Registrable Securities or Exchange Notes (and related guarantees) to be sold by a Participating
Broker-Dealer during the Applicable Period)), (ii) printing expenses, including, without
limitation, expenses of printing certificates for Registrable Notes or Exchange Notes in a form
eligible for deposit with The Depository Trust Company and of printing prospectuses if the printing
of prospectuses is requested by the managing underwriter or underwriters, if any, by the Holders of
a majority in aggregate principal amount of the Registrable Securities included in any Registration
Statement or in respect of Registrable Securities or Exchange Notes (and related guarantees) to be
sold by any Participating Broker-Dealer during the Applicable Period, as the case may be, (iii)
messenger, telephone and delivery expenses, (iv) fees and disbursements of counsel for the Issuers
and reasonable fees and disbursements of one firm of special counsel for the sellers of Registrable
Securities and any Participating Broker-Dealers, (v) fees and disbursements of all independent
certified public accountants referred to in Section 5(l)(iii) hereof (including, without
limitation, the expenses of any special audit and “cold comfort” letters required by or incident to
such performance), (vi) Securities Act liability insurance, if the Issuers desire such insurance,
(vii) fees and expenses of all other Persons retained by the Issuers, (viii) internal expenses of
the Issuers (including, without limitation, all salaries and expenses of officers and employees of
the Issuers performing legal or accounting duties), (ix) the expense of any annual audit, (x) any
fees and expenses incurred in connection with the listing of the securities to be registered on any
securities exchange, and the obtaining of a rating of the securities, in each case, if applicable,
and (xi) the expenses relating to printing, word processing and distributing all Registration
Statements, underwriting agreements, indentures and any other documents necessary in order to
comply with this Agreement.

     7. Indemnification

          (a) Each of the Issuers agree, jointly and severally, to indemnify and hold harmless each
Holder of Registrable Securities and each Participating Broker-Dealer selling Exchange Notes (and
related guarantees) during the Applicable Period, the affiliates, officers, directors,
representatives, employees and agents of each such Person, and each Person, if any, who controls
any such Person within the meaning of either Section 15 of the Securities Act or Section 20 of the
Exchange Act (each, a “Participant”), from and against any and all losses, claims, damages,
judgments, liabilities and expenses (including, without limitation, the

-19-

 

reasonable legal fees and other expenses actually incurred in connection with any suit, action
or proceeding or any claim asserted) caused by, arising out of or based upon any untrue statement
or alleged untrue statement of a material fact contained in any Registration Statement (or any
amendment thereto) or Prospectus (as amended or supplemented if any of the Issuers shall have made
any amendments or supplements thereto) or any preliminary prospectus, or caused by, arising out of
or based upon any omission or alleged omission to state therein a material fact required to be
stated therein or necessary to make the statements therein, in the case of the Prospectus in light
of the circumstances under which they were made, not misleading, except insofar as such
losses, claims, damages or liabilities are caused by any untrue statement or omission or alleged
untrue statement or omission made in reliance upon and in conformity with information relating to
any Participant, any underwriter, or the manner in which securities are to be distributed,
furnished to the Issuers in writing by such Participant or an underwriter expressly for use
therein.

          (b) Each Participant agrees, severally and not jointly, to indemnify and hold harmless the
Issuers, their respective affiliates, officers, directors, representatives, employees and agents
and each Person who controls the Issuers within the meaning of Section 15 of the Securities Act or
Section 20 of the Exchange Act to the same extent (but on a several, and not joint, basis) as the
foregoing indemnity from the Issuers to each Participant, but only with reference to information
relating to such Participant or the manner in which securities are to be distributed by such
Participant or someone acting on such Participant’s behalf, furnished to the Issuers in writing by
such Participant expressly for use in any Registration Statement or Prospectus, any amendment or
supplement thereto, or any preliminary prospectus. The liability of any Participant under this
paragraph shall in no event exceed the proceeds received by such Participant from sales of
Registrable Securities or Exchange Notes (and related guarantees) giving rise to such obligations.

          (c) If any suit, action, proceeding (including any governmental or regulatory investigation),
claim or demand shall be brought or asserted against any Person in respect of which indemnity may
be sought pursuant to either of the two preceding paragraphs, such Person (the “Indemnified
Person”) shall promptly notify the Persons against whom such indemnity may be sought (the
“Indemnifying Persons”) in writing, and the Indemnifying Persons, upon request of the
Indemnified Person, shall retain counsel reasonably satisfactory to the Indemnified Person to
represent the Indemnified Person and any others the Indemnifying Persons may reasonably designate
(which may include the Indemnifying Persons, unless representation of the Indemnifying Persons by
the same counsel would be inappropriate due to actual or potential differing interests between
them) in such proceeding and shall pay the fees and expenses actually incurred by such counsel
related to such proceeding; provided, however, that the failure to so notify the
Indemnifying Persons (i) will not relieve them from any liability under paragraph (a) or (b) above
unless and to the extent such failure results in the forfeiture by an Indemnifying Person of
substantial rights and defenses and (ii) will not, in any event, relieve any Indemnifying Person
from any obligations to any Indemnified Person other than the indemnification obligation provided
in paragraphs (a) and (b) above. In any such proceeding, any Indemnified Person shall have the
right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense
of such Indemnified Person unless (i) the Indemnifying Persons and the Indemnified Person shall
have mutually agreed to the contrary, (ii) the Indemnifying Persons shall have failed within a
reasonable period of time to retain counsel reasonably satisfactory to the Indemnified

-20-

 

Person or (iii) the named parties in any such proceeding (including any impleaded parties)
include both any Indemnifying Person and the Indemnified Person or any affiliate thereof and
representation of both parties by the same counsel would be inappropriate due to actual or
potential differing interests between them. It is understood that, unless there exists a conflict
among the Indemnified Persons, the Indemnifying Persons shall not, in connection with such
proceeding or separate but substantially similar related proceeding in the same jurisdiction
arising out of the same general allegations, be liable for the fees and expenses of more than one
separate firm (in addition to any local counsel) for all Indemnified Persons, and that all such
fees and expenses shall be reimbursed promptly as they are incurred. Any such separate firm for
the Participants against whom a suit, action, proceeding, claim or demand is brought or asserted
and control Persons of such Participants shall be designated in writing by Participants who sold a
majority in interest of Registrable Securities and Exchange Notes (and related guarantees) sold by
all such Participants, and any such separate firm for the Issuers, their affiliates, officers,
directors, representatives, employees and agents and such control Persons of the Issuers shall be
designated in writing by the Issuers.

          The Indemnifying Persons shall not be liable for any settlement of any proceeding effected
without their prior written consent, but if settled with such consent or if there be a final
non-appealable judgment for the plaintiff for which any Indemnified Persons are entitled to
indemnification pursuant to this Agreement, each of the Indemnifying Persons agrees to indemnify
and hold harmless each Indemnified Person from and against any loss or liability by reason of such
settlement or judgment. No Indemnifying Person shall, without the prior written consent of the
Indemnified Persons, effect any settlement or compromise of any pending or threatened proceeding in
respect of which any Indemnified Person is or could have been a party, or indemnity could have been
sought hereunder by such Indemnified Person, unless such settlement (A) includes an unconditional
written release of such Indemnified Person, in form and substance reasonably satisfactory to such
Indemnified Person, from all liability on claims that are the subject matter of such proceeding and
(B) does not include any statement as to an admission of fault, culpability or failure to act by or
on behalf of such Indemnified Person.

          (d) If the indemnification provided for in the first and second paragraphs of this Section 7
is for any reason unavailable to, or insufficient to hold harmless, an Indemnified Person in
respect of any losses, claims, damages or liabilities referred to therein, then each Indemnifying
Person under such paragraphs, in lieu of indemnifying such Indemnified Person thereunder and in
order to provide for just and equitable contribution, shall contribute to the amount paid or
payable by such Indemnified Person as a result of such losses, claims, damages or liabilities in
such proportion as is appropriate to reflect (i) the relative benefits received by the Indemnifying
Person or Persons on the one hand and the Indemnified Person or Persons on the other from the
applicable offering of Registrable or Exchanged Notes or (ii) if the allocation provided by the
foregoing clause (i) is not permitted by applicable law, not only such relative benefits but also
the relative fault of the Indemnifying Person or Persons on the one hand and the Indemnified Person
or Persons on the other in connection with the statements or omissions or alleged statements or
omissions that resulted in such losses, claims, damages or liabilities (or actions in respect
thereof) as well as any other relevant equitable considerations. The relative fault of the parties
shall be determined by reference to, among other things, whether the untrue or alleged untrue
statement of a material fact or the omission or alleged omission to state a material fact relates
to information supplied by the Company on the one hand or such Participant or such

-21-

 

other Indemnified Person, as the case may be, on the other, the parties’ relative intent,
knowledge, access to information and opportunity to correct or prevent such statement or omission,
and any other equitable considerations appropriate in the circumstances.

          (e) The parties agree that it would not be just and equitable if contribution pursuant to this
Section 7 were determined by pro rata allocation (even if the Participants were
treated as one entity for such purpose) or by any other method of allocation that does not take
account of the equitable considerations referred to in the immediately preceding paragraph. The
amount paid or payable by an Indemnified Person as a result of the losses, claims, damages,
judgments, liabilities and expenses referred to in the immediately preceding paragraph shall be
deemed to include, subject to the limitations set forth above, any reasonable legal or other
expenses actually incurred by such Indemnified Person in connection with investigating or defending
any such action or claim. Notwithstanding the provisions of this Section 7, in no event shall a
Participant be required to contribute any amount in excess of the amount by which proceeds received
by such Participant from sales of Registrable Securities or Exchange Notes (and related
guarantees), as the case may be, exceeds the amount of any damages that such Participant has
otherwise been required to pay or has paid by reason of such untrue or alleged untrue statement or
omission or alleged omission. No Person guilty of a fraudulent misrepresentation (within the
meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person
who was not guilty of such fraudulent misrepresentation.

          (f) Any losses, claims, damages, liabilities or expenses for which an indemnified party is
entitled to indemnification or contribution under this Section 7 shall be paid by the Indemnifying
Person to the Indemnified Person as such losses, claims, damages, liabilities or expenses are
incurred. The indemnity and contribution agreements contained in this Section 7 and the
representations and warranties of the Company set forth in this Agreement shall remain operative
and in full force and effect, regardless of (i) any investigation made by or on behalf of any
Holder or any person who controls a Holder, or by the Company, its directors, officers, employees
or agents or any person controlling any of the Issuers, and (ii) any termination of this Agreement.

          (g) The indemnity and contribution agreements contained in this Section 7 will be in addition
to any liability which the Indemnifying Persons may otherwise have to the Indemnified Persons
referred to above.

     8. Rules 144 and 144A

          Each of the Issuers covenants and agrees that it will file the reports required to be filed by
it under the Securities Act and the Exchange Act and the rules and regulations adopted by the SEC
thereunder in a timely manner in accordance with the requirements of the Securities Act and the
Exchange Act and, if at any time such Issuer is not required to file such reports, such Issuer
will, upon the request of any Holder or beneficial owner of Registrable Securities, make available
such information as is necessary to permit sales pursuant to Rule 144A under the Securities Act.
The Company further covenants and agrees, for so long as any Registrable Securities remain
outstanding, that it will take such further action as any Holder of Registrable Securities may
reasonably request, all to the extent required from time to time to enable such holder to sell
Registrable Securities without registration under the Securities Act within the

-22-

 

limitations of the exemptions provided by (a) Rule 144 and Rule 144A under the Securities Act,
as such Rules may be amended from time to time, or (b) any similar rule or regulation hereafter
adopted by the SEC.

     9. Underwritten Registrations

          If any of the Registrable Securities covered by any Shelf Registration Statement are to be
sold in an underwritten offering, the investment banker or investment bankers and manager or
managers that will manage the offering will be selected by the Holders of a majority in aggregate
principal amount of such Registrable Securities included in such offering and shall be reasonably
acceptable to the Issuers.

          No Holder of Registrable Securities may participate in any underwritten registration hereunder
unless such Holder (a) agrees to sell such Holder’s Registrable Securities on the basis provided in
any underwriting arrangements approved by the Persons entitled hereunder to approve such
arrangements and (b) completes and executes in a timely manner all questionnaires, powers of
attorney, indemnities, underwriting agreements and other customary documents required by the
Company or the underwriter in connection with such underwriting arrangements.

     10. Miscellaneous

          (a) No Inconsistent Agreements. The Issuers have not, as of the date hereof, and the
Issuers shall not, after the date of this Agreement, enter into any agreement with respect to any
of their securities that is inconsistent with the rights granted to the Holders of Registrable
Securities in this Agreement or otherwise conflicts with the provisions hereof. The rights granted
to the Holders hereunder do not in any way conflict with and are not inconsistent with the rights
granted to the holders of the Issuers’ other issued and outstanding securities under any such
agreements. The Issuers will not enter into any agreement with respect to any of its securities
which will grant to any Person piggyback registration rights with respect to any Registration
Statement; provided, however that the Company may enter into an agreement in connection with the
issuance of Additional Notes which will grant the holders of the Additional Notes the right to have
them included in a Registration Statement.

          (b) Adjustments Affecting Registrable Securities. The Issuers shall not, directly or
indirectly, take any action with respect to the Registrable Securities as a class that would
adversely affect the ability of the Holders of Registrable Securities to include such Registrable
Securities in a registration undertaken pursuant to this Agreement.

          (c) Amendments and Waivers. The provisions of this Agreement may not be amended,
modified or supplemented, and waivers or consents to departures from the provisions hereof may not
be given, otherwise than with the prior written consent of (I) the Company and (II)(A) the Holders
of not less than a majority in aggregate principal amount of the then outstanding Registrable
Securities and (B) if the amendment, modification, supplement, waiver or consent would adversely
affect the Participating Broker-Dealers, the Participating Broker-Dealers holding not less than a
majority in aggregate principal amount of the Exchange Notes (and related guarantees) held by all
Participating Broker-Dealers; provided, however, that

-23-

 

Section 7 and this Section 10(c) may not be amended, modified or supplemented without the
prior written consent of each Holder and each Participating Broker-Dealer (including any person who
was a Holder or Participating Broker-Dealer of Registrable Securities or Exchange Notes (and
related guarantees), as the case may be, disposed of pursuant to any Registration Statement)
affected by any such amendment, modification or supplement. Notwithstanding the foregoing, a
waiver or consent to depart from the provisions hereof with respect to a matter that relates
exclusively to the rights of Holders of Registrable Securities whose securities are being sold
pursuant to a Registration Statement and that does not directly or indirectly affect, impair, limit
or compromise the rights of other Holders of Registrable Securities may be given by Holders of at
least a majority in aggregate principal amount of the Registrable Securities being sold pursuant to
such Registration Statement.

          (d) Notices. All notices and other communications (including, without limitation, any
notices or other communications to the Trustee) provided for or permitted hereunder shall be made
in writing by hand-delivery, registered first-class mail, next-day air courier or facsimile:

     (i) if to a Holder of the Registrable Securities or any Participating
Broker-Dealer, at the most current address of such Holder or Participating
Broker-Dealer, as the case may be, set forth on the records of the registrar under
the Indenture, with a copy in like manner to the Representatives as follows:

Citigroup Global Markets Inc.

388 Greenwich Street

New York, New York 10013

Attention: General Counsel

J.P. Morgan Securities Inc.

383 Madison Avenue

New York, New York 10179

Attention: General Counsel

and with a copy to:

Willkie Farr & Gallagher LLP

787 Seventh Avenue

New York, New York, 10019

Attention: David K. Boston, Esq.

     (ii) if to the Company, at the address as follows:

700 N.W. 107th Avenue

Miami, Florida 33172

Attention: General Counsel, Mark Sustana

-24-

 

with a copy to:

K&L Gates LLP

599 Lexington Avenue

New York, New York 10022

Attention: David W. Bernstein, Esq.

     (iii) if to the Representatives, at the address specified in Section 10(d)(i).

          All such notices and communications shall be deemed to have been duly given: when delivered
by hand, if personally delivered; five business days after being deposited in the mail, postage
prepaid, if mailed; one business day after being timely delivered to a next-day air courier; and
when receipt is acknowledged by the addressee, if sent by facsimile.

          Copies of all such notices, demands or other communications shall be concurrently delivered by
the Person giving the same to the Trustee under an indenture at the address and in the manner
specified in the indenture.

          (e) Successors and Assigns. This Agreement shall inure to the benefit of and be
binding upon the successors and assigns of each of the parties hereto, the Holders and the
Participating Broker-Dealers.

          (f) Counterparts. This Agreement may be executed in any number of counterparts and by
the parties hereto in separate counterparts, each of which when so executed shall be deemed to be
an original (including facsimile signatures) and all of which taken together shall constitute one
and the same agreement.

          (g) Headings. The headings in this Agreement are for convenience of reference only
and shall not limit or otherwise affect the meaning hereof.

          (h) Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE
WITH THE LAWS OF THE STATE OF NEW YORK, AS APPLIED TO CONTRACTS MADE AND TO BE PERFORMED ENTIRELY
WITHIN THE STATE OF NEW YORK, WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAW THAT WOULD APPLY THE
LAW OF ANY OTHER JURISDICTION. EACH OF THE PARTIES HERETO AGREES TO SUBMIT TO THE JURISDICTION OF
THE COURTS OF THE STATE OF NEW YORK SITTING IN NEW YORK COUNTY OR OF THE UNITED STATES OF AMERICA
FOR THE SOUTHERN DISTRICT OF NEW YORK IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO
THIS AGREEMENT.

          (i) Severability. If any term, provision, covenant or restriction of this Agreement
is held by a court of competent jurisdiction to be invalid, illegal, void or unenforceable, the
remainder of the terms, provisions, covenants and restrictions set forth herein shall remain in
full force and effect and shall in no way be affected, impaired or invalidated, and

-25-

 

the parties hereto shall use their best efforts to find and employ an alternative means to
achieve the same or substantially the same result as that contemplated by such term, provision,
covenant or restriction. It is hereby stipulated and declared to be the intention of the parties
that they would have executed the remaining terms, provisions, covenants and restrictions without
including any of such that may be hereafter declared invalid, illegal, void or unenforceable.

          (j) Securities Held by the Issuers or their Affiliates. Whenever the consent or
approval of Holders of a specified percentage of Registrable Securities is required hereunder,
Registrable Securities held by the Issuers or their respective affiliates (as such term is defined
in Rule 405 under the Securities Act) shall not be counted in determining whether such consent or
approval was given by the Holders of such required percentage.

          (k) Third-Party Beneficiaries. Holders of Registrable Securities and Participating
Broker-Dealers are intended third-party beneficiaries of this Agreement, and this Agreement may be
enforced by such Persons.

          (l) Entire Agreement. This Agreement, together with the Purchase Agreement and the
Indenture, is intended by the parties as a final and exclusive statement of the agreement and
understanding of the parties hereto in respect of the subject matter contained herein and therein
and any and all prior oral or written agreements, representations, or warranties, contracts,
understandings, correspondence, conversations and memoranda between the Holders on the one hand and
the Issuers on the other, or between or among any agents, representatives, parents, subsidiaries,
affiliates, predecessors in interest or successors in interest with respect to the subject matter
hereof and thereof are merged herein and replaced hereby.

[Signature page follows]

-26-

 

          IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written
above.

	 	 	 	 	 
	 	

LENNAR CORPORATION

 	 
	 	By:  	/s/ Mark Sustana
 	 
	 	 	Name:  	Mark Sustana 	 
	 	 	Title:  	Secretary 	 
	 

	 	 	 	 	 
	The foregoing Agreement is hereby confirmed

and accepted as of the date first above

written.

CITIGROUP GLOBAL MARKETS INC.

J.P. MORGAN SECURITIES INC.

For themselves and on behalf of

the several Initial Purchasers

 	 	 
	By:  	CITIGROUP GLOBAL MARKETS INC.
 	 	 
	 	 	 
	By:  	/s/ Brian Bednarski
 	 	 
	 	Name:  	Brian Bednarski 	 	 
	 	Title:  	Managing Director 	 	 
	 	 	 
	By:  	J.P. MORGAN SECURITIES INC.
 	 	 
	 
	By:  	/s/ Kenneth Lang
 	 	 
	 	Name:  	Kenneth Lang 	 	 
	 	Title:  	Managing Director 	 	 

Signature Page to Registration Rights Agreement

 

 

	 	 	 	 	 

Aquaterra Utilities, Inc.

Asbury Woods, LLC

Astoria Options, LLC

Avalon Sienna III L.L.C.

Aylon, LLC

Bay Colony Expansion 369, Ltd.

Bay River Colony Development, Ltd.

BB Investment Holdings, LLC

BCI Properties, LLC

BPH I, LLC

Bramalea California, Inc.

Builders LP, Inc.

C & C Ranch, LLC

Cambria, LLC

Camelot Ventures, LLC

Cary Woods, LLC

Cedar Lakes II, LLC

Cherrytree I LLC

Cherrytree II LLC

CL Ventures, LLC

Colonial Heritage LLC

Columbia Station L.L.C.

Concord Station, LLP

Coto de Caza, Ltd.

Coventry L.L.C.

Creekside Crossing, L.L.C.

Darcy-Joliet, LLC

DBJ Holdings, LLC

Enclave Land, LLC

Evergreen Village LLC

F&R QVI Home Investments USA, LLC

Fox-Maple Associates, LLC

Friendswood Development Company, LLC

Garco Investments, LLC

Greystone Construction, Inc.

Greystone Homes of Nevada, Inc.

Greystone Homes, Inc.

Greystone Nevada, LLC

Greywall Club L.L.C.

Haverton L.L.C.

Heathcote Commons LLC

Home Buyer’s Advantage Realty, Inc.

Homecraft Corporation

HTC Golf Club, LLC

Independence L.L.C.

Lakelands at Easton, L.L.C.

Signature Page to Registration Rights Agreement

 

 

Legends Club, LLC

Legends Golf Club, LLC

Len Paradise, LLC

Lencraft, LLC

LENH I, LLC

Lennar Aircraft I, LLC

Lennar Arizona Construction, Inc.

Lennar Arizona, Inc.

Lennar Associates Management Holding Company

Lennar Associates Management, LLC

Lennar Buffington Colorado Crossing, L.P.

Lennar Buffington Zachary Scott, L.P.

Lennar Carolinas, LLC

Lennar Central Park, LLC

Lennar Central Region Sweep, Inc.

Lennar Chicago, Inc.

Lennar Cobra, LLC

Lennar Colorado, LLC

Lennar Communities Development, Inc.

Lennar Communities Nevada, LLC

Lennar Communities of Chicago L.L.C.

Lennar Communities, Inc.

Lennar Construction, Inc.

Lennar Coto Holdings, LLC

Lennar Developers, Inc.

Lennar Family of Builders GP, Inc.

Lennar Family of Builders Limited Partnership

Lennar Financial Services, LLC

Lennar Fresno, Inc.

Lennar Georgia, Inc.

Lennar Gulf Coast, LLC

Lennar Hingham Holdings, LLC

Lennar Hingham JV, LLC

Lennar Homes Holding, LLC

Lennar Homes of Arizona, Inc.

Lennar Homes of California, Inc.

Lennar Homes of Texas Land and Construction, Ltd.

Lennar Homes of Texas Sales and Marketing, Ltd.

Lennar Homes, LLC

Lennar Illinois Trading Company, LLC

Lennar Imperial Holdings Limited Partnership

Lennar Land Partners Sub II, Inc.

Lennar Land Partners Sub, Inc.

Lennar Layton, LLC

Lennar Mare Island, LLC

Lennar Marina A Funding, LLC

Signature Page to Registration Rights Agreement

 

 

Lennar Massachusetts Properties, Inc.

Lennar Nevada, Inc.

Lennar New Jersey Properties, Inc.

Lennar New York, LLC

Lennar Northeast Properties LLC

Lennar Northeast Properties, Inc.

Lennar Pacific Properties Management, Inc.

Lennar Pacific Properties, Inc.

Lennar Pacific, Inc.

Lennar PI Acquisition, LLC

Lennar PI Property Acquisition, LLC

Lennar PIS Management Company, LLC

Lennar Placentia TOD Properties, LLC

Lennar PNW, Inc.

Lennar Port Imperial South, LLC

Lennar Realty, Inc.

Lennar Reflections, LLC

Lennar Renaissance, Inc.

Lennar Reno, LLC

Lennar Riverside West Urban Renewal Company, L.L.C.

Lennar Riverside West, LLC

Lennar Sacramento, Inc.

Lennar Sales Corp.

Lennar San Jose Holdings, Inc.

Lennar Southland I, Inc.

Lennar Southwest Holding Corp.

Lennar Texas Holding Company

Lennar Trading Company, LP

Lennar Ventures, LLC

Lennar West Valley, LLC

Lennar.com Inc.

LFS Holding Company, LLC

LH Eastwind, LLC

LHI Renaissance, LLC

LLPII HCC Holdings, LLC

LNC at Meadowbrook, LLC

LNC at Ravenna, LLC

LNC Communities I, Inc.

LNC Communities II, LLC

LNC Communities III, Inc.

LNC Communities IV, LLC

LNC Communities IX, LLC

LNC Communities V, LLC

LNC Communities VI, LLC

LNC Communities VII, LLC

LNC Communities VIII, LLC

Signature Page to Registration Rights Agreement

 

 

LNC Northeast Mortgage, Inc.

LNC Pennsylvania Realty, Inc.

Long Beach Development, LLC

Lori Gardens Associates II, LLC

Lori Gardens Associates III, LLC

Lorton Station, LLC

Madrona Village L.L.C.

Madrona Village Mews L.L.C.

Mid-County Utilities, Inc.

Mission Viejo 12S Venture, LP

Mission Viejo Holdings, Inc.

Montgomery Crossings, LLC

Northbridge L.L.C.

Northeastern Properties LP, Inc.

Palm Gardens At Doral Clubhouse, LLC

Palm Gardens at Doral, LLC

Palm Vista Preserve, LLC

Perris Green Valley Associates, a California limited partnership

PG Properties Holding, LLC

Pioneer Meadows Development, LLC

Pioneer Meadows Investments, LLC

POMAC, LLC

Prestonfield L.L.C.

Raintree Village II L.L.C.

Raintree Village, L.L.C.

Rivenhome Corporation

Rutenberg Homes of Texas, Inc.

Rutenberg Homes, Inc. (Florida)

Rye Hill Company, LLC

S. Florida Construction II, LLC

S. Florida Construction III, LLC

S. Florida Construction, LLC

San Lucia, LLC

Savell Gulley Development, LLC

Scarsdale, LTD.

Seminole/70th, LLC

Siena at Old Orchard, LLC

Sonoma L.L.C.

Spanish Springs Development, LLC

Stoney Corporation

Stoneybrook Golf Club, Inc.

Strategic Cable Technologies, L.P.

Strategic Holdings, Inc. d/b/a Lennar Communications Ventures (LCV)

Strategic Technologies Communications of California, Inc.

Strategic Technologies, LLC

Summerfield Venture L.L.C.

Signature Page to Registration Rights Agreement

 

 

Summerwood, LLC

Suppliers for Housing Group, LLC

Temecula Valley, LLC

The Courts of Indian Creek L.L.C.

The LNC Northeast Group, Inc.

The Preserve at Coconut Creek, LLC

Trade Services Investments, Inc.

U.S. Home Corporation

U.S. Home of Arizona Construction Co.

U.S. Home Realty, Inc.

U.S.H. Los Prados, Inc.

U.S.H. Realty, Inc.

USH — Flag, LLC

USH (West Lake), Inc.

USH Equity Corporation

USH Millennium Ventures Corp.

USH Woodbridge, Inc.

UST Lennar GP PIS 10, LLC

UST Lennar GP PIS 7, LLC

WCP, LLC

West Chocolate Bayou Development, LLC

West Van Buren L.L.C.

Westchase, Inc.

	 	 	 	 	 
	 	

as Guarantors

 	 
	 	By:  	/s/ Mark Sustana
 	 
	 	 	Name:  	Mark Sustana 	 
	 	 	Title:  	Secretary 	 
	 

Signature Page to Registration Rights AgreementExhibit 10.1

Exhibit 10.1

JOS. A. BANK CLOTHIERS, INC.

2010 EQUITY INCENTIVE PLAN

CEO PERFORMANCE RESTRICTED STOCK UNIT AWARD AGREEMENT

THIS CEO PERFORMANCE RESTRICTED STOCK UNIT AWARD AGREEMENT (this “Award Agreement”) is made
this 17th day of June, 2010 (the “Vesting Commencement Date”), by and between JOS. A. BANK
CLOTHIERS, INC. (the “Company”) and R. NEAL BLACK (“you” or the “Participant”).

Pursuant to the Jos. A. Bank Clothiers, Inc. 2010 Equity Incentive Plan (the “Plan”), the
Company hereby grants to you the conditional award of 32,309 Restricted Stock Units (“RSUs”) (the
“Award”), upon the terms and conditions hereinafter set forth. The Award is conditioned upon and
subject to attainment of those certain Performance Goals established by the Compensation Committee
of the Board of Directors of the Company at its meeting held on March 30, 2010 and subject further
to the retention of negative discretion by the Compensation Committee to reduce the number of RSUs
to be earned under this Award Agreement. The Performance Goals and the Compensation Committee’s
retention of negative discretion have been communicated to the Participant and are incorporated
herein by reference. Unless otherwise defined herein, capitalized terms shall have the meanings set
forth in the Plan.

The details of your Award are as follows.

1. ENTITLEMENT TO SHARES.

(a) Determination of Earned Award. Provided that (i) the applicable Performance
Goals are achieved during the Company’s fiscal year ending January 29, 2011 (the “Performance
Period”), and (ii) you continue to be employed by the Company through the Certification Date (as
defined below) (unless vesting is accelerated in accordance with the terms of this Award Agreement
or the Plan) then, subject to the limitations contained herein and to the provisions of the Plan,
you shall be credited with a finally determined number of RSUs on the Certification Date equal to
all or a portion of the Award so certified by the Committee to have been earned based on the
attainment of such Performance Goals, subject to the vesting provisions contained in Section 1 and
the other provisions of this Award Agreement, and subject, on and after the grant date, to
adjustment as provided under the terms of the Plan including, without limitation, the last
paragraph of Section 5 of the Plan (the “Earned Award”). For purposes of this Award Agreement, the
Certification Date is the date after the end of the Performance Period on which the Committee
certifies (x) the extent to which Performance Goals have been achieved based upon the Company’s
audited financial statements and (y) the number of shares of Stock subject to the Earned Award. If
the Committee determines that none of the Performance Goals shall have been achieved during the
Performance Period, this RSU shall terminate and all shares of Stock subject to the Award shall be
forfeited upon such determination.

 

 

 

(b) Vesting Schedule. On the date that is the later to occur of (i) the Certification
Date and (ii) the first anniversary of the Vesting Commencement Date (the “First Vesting Date”),
the number of RSUs determined to be the Earned Award based on achievement of Performance Goals that
shall vest on such date shall be equal to the lesser of (x) the number of RSUs determined to be the
Earned Award and (y) the quotient obtained by dividing 775,000 by $59.58, which is the closing
price of Stock on the date of the Award Agreement (rounded up to the nearest share). In the event
that not all of the RSUs determined to be the Earned Award shall have vested on the First Vesting
Date, then one-half of the remainder of the Earned Award (rounded up to the nearest share) shall
vest on the second anniversary of the Vesting Commencement Date and the balance of such Earned
Award shall vest on the third anniversary of the Vesting Commencement Date. Except as otherwise
provided in Sections 1(c), (d) or (e) of this Award Agreement, you must continue to be employed by
the Company or any other participating subsidiary through the applicable Vesting Date in order to
be entitled to the RSUs vesting on such Vesting Date. Such vesting will be subject to acceleration
as provided in Sections 1(c), (d) or (e) of this Award Agreement, as applicable.

(c) Disability or Death.

(i) If your employment terminates after the end of the Performance Period but prior to the
Certification Date by reason of death or Disability, you (or your heirs in the case of death) will
be credited, on the Certification Date, with such Earned Award and shall be deemed to have fully
vested in such Earned Award on the First Vesting Date.

(ii) If your employment terminates on or after the Certification Date due to your death or
Disability, you (or your heirs in the case of death) will be deemed to have fully vested in your
Earned Award upon the occurrence of your death or Disability, as applicable.

(iii) If your employment terminates due to your death or Disability prior to the end of the
Performance Period, then to the extent that the Committee certifies that the Performance Goals have
been achieved at a particular level, you (or your heirs in the case of death) will be entitled upon
such Certification Date to a pro-rated portion of the Award, determined by multiplying the Earned
Award that you would have been credited to you had you been employed on the Certification Date
(based on such certified performance) by a fraction, the numerator of which is the number of days
in the Performance Period through the date of your termination of employment, and the denominator
of which is 365, and you will be deemed vested in such Award on the First Vesting Date.

(iv) The shares of Stock subject to an Earned Award that vest pursuant to this Section 1(c)
shall be issued and delivered to you (or your heirs in the case of death) pursuant to Section 3
below.

(v) “Disability” shall mean that you are unable to engage in any substantial gainful activity,
by reason of any medically determinable physical or mental impairment which can be expected to
result in death or can be expected to last for a continuous period of not less than twelve months.
The Committee shall determine the existence of any
Disability; however, you will be deemed to have a Disability if you have been determined to be
totally disabled by the Social Security Administration.

 

2

 

(d) Involuntary Separation from Service Without Cause or from Service for Good Reason
after the end of the Performance Period.

(i) If the Company terminates your employment without Cause, or you terminate your employment
for Good Reason, and in either case such termination occurs after the end of the Performance Period
but prior to the Certification Date, then, upon certification by the Committee of the Earned Award
on the Certification Date, you will be credited with such Earned Award and shall be deemed to have
fully vested in such Earned Award on the First Vesting Date.

(ii) If the Company terminates your employment without Cause, or you terminate your employment
for Good Reason on or after the Certification Date, then you will be deemed to have fully vested in
such Earned Award, and all vesting restrictions will lapse upon your termination.

For purposes of this Award Agreement, “Good Reason” means the occurrence of any of the
following without your consent: (i) a material reduction in your base salary; (ii) a material
diminution in your authority, job duties or responsibilities; or (iii) a material breach of your
Employment Agreement with the Company. A condition will not constitute Good Reason unless you give
the Company written notice of the existence of Good Reason within 90 days of its first occurrence,
the Company does not cure such condition within a period of 30 days and then you separate from
employment within 60 days thereafter.

For purpose of this Award Agreement, “Cause” shall mean “Cause” as defined under the terms of
your Employment Agreement.

This Section 1(d) is intended to comply, and shall be construed in accordance, with Treasury
Regulation Section 1.409A-1(h) and (n). References to ‘termination of employment’ shall mean
“Separation from Service” as defined in Section 409A and regulations issued thereunder.

(iii) The shares of Stock subject to an Earned Award that vest pursuant to this Section 1(d)
shall be issued and delivered to you pursuant to Section 3 below.

(iv) You shall forfeit the Award in its entirety if you terminate service for reasons other
than death, Disability or a Change in Control prior to the end of the Performance Period.

 

3

 

(e) Change in Control.

In the event a Change in Control (as defined in the Plan) occurs during the term of this Award
Agreement and you are employed by the Company immediately prior to the
consummation of such Change in Control, then you will be deemed fully vested in the Earned
Award calculated as follows:

(i) If the Change in Control occurs prior to the end of the Performance Period, then such
Award will be calculated assuming the maximum level of performance had been achieved with respect
to all Performance Goal(s) and the maximum number of shares underlying the Award shall be pro-rated
by multiplying that number by a fraction the numerator of which is the number of days elapsed in
the performance period and the denominator of which is 365.

(ii) If the Change in Control occurs after the completion of the Performance Period, but prior
to the Certification Date, then to the extent that actual performance can be determined and
certified by the Committee prior to the Change in Control, you will be credited with the number of
shares so determined to have been earned based on the level of achievement of the Performance
Goal(s); and to the extent the Committee is unable in good faith to make such determination and
certification, then such Award shall be calculated based on the assumption that the maximum level
of performance with respect to all Performance Goal(s) had been achieved; and

(iii) If the Change in Control occurs on or after the Certification Date, then you will be
deemed to have fully vested in the Earned Award.

The Company shall credit you in book form with the number of shares that are deemed vested
under this Section 1(e). Such shares (net of applicable tax withholdings) shall be deemed issued
immediately prior to the consummation of the Change in Control and your deemed shares will be
treated in the same manner and paid at the same time as other shares in the transaction.
Alternatively, the Committee in its discretion may settle your vested RSUs in cash, in an amount
equal to the product of (x) the total number of such vested RSUs, and (y) the price per share paid
for one share of Stock in the Change in Control transaction, in which case such amount, net of
applicable tax withholding, shall be paid in cash, upon the consummation of the Change in Control.

2. DIVIDEND EQUIVALENTS. With respect to each cash dividend or other distribution (if any)
paid with respect to the Stock of the Company to holders of record on and after the date hereof, a
number a shares of Stock shall be accrued on the records of the Company, in an amount equal to the
product of (i) the amount of such dividend or distribution paid with respect to one share of Stock,
multiplied by (ii) the number of RSUs granted hereunder, and (iii) divided by the Fair Market Value
of one share of Stock on the applicable dividend or distribution payment date for the dividend or
other distribution, which amount shall be credited in the form of additional RSUs on such date. No
Dividend Equivalents shall be paid to you prior to the settlement of the Award. Rather, such
Dividend Equivalent payments will accrue and be notionally credited to your Award and paid out in
the form of additional shares of Stock upon settlement of the Award. At such time(s) thereafter as
you receive a distribution of shares of Stock in respect to your vested RSUs, the Company shall
also distribute to you such number of shares of Stock accrued under this Section 2. In no event
shall this Section 2 be applied in a manner that duplicates an adjustment in the number of shares
of Stock subject to this Award that
is made under another provision of the Plan including, without limitation, under the last paragraph
of Section 5 thereof.

 

4

 

3. DISTRIBUTIONS; DELIVERY OF SHARES. You will be entitled to a distribution with respect to
the shares of Stock underlying the RSUs that have vested under the terms of this Award Agreement
(for which no deferral election is in effect) on the earliest to occur of the following (each, a
“Payment Date”): (i) the occurrence of a time-based Vesting Date; (ii) your involuntary Separation
from Service (as provided in Section 1(d) of this Award Agreement and as defined in Section 409A of
the Internal Revenue Code and regulations issued thereunder); (iii) your death; (iv) your
Disability (as defined in Section 409A of the Code and under this Award Agreement); and (v) upon a
Change in Control (as defined in the Plan). Subject to the remainder of this Section 3, Sections 4
and 11 of this Award Agreement and except as otherwise provided in Section 1(e) (with respect to a
Change in Control), the Company shall issue and deliver to you (or your heirs in the case of death)
certificates or book-entry shares representing that number of shares of Stock within thirty (30)
days following the applicable Payment Date. The certificates or book-entry shares to be delivered
hereunder shall be in such form as is determined by the Company. No shares of Stock shall be issued
prior to vesting.

4. DEFERRAL ELECTION. If permitted by the Company, you may elect to defer receipt of the
shares of Stock that would otherwise be issued pursuant to the vesting of your Award, which
deferral shall be made in accordance with the terms and conditions of the Company’s 2010 Deferred
Compensation Plan. The Board (or an appropriate committee thereof) will, in its sole discretion,
establish the rules and procedures for such deferrals. If you make such election, then any
Dividend Equivalents credited with respect to your RSUs will be deferred under the same terms.
Distribution of the shares of Stock subject to such deferral election (including accumulated
Dividend Equivalents) will be governed by the terms of the Company’s 2010 Deferred Compensation
Plan and your deferral election.

5. NUMBER OF SHARES. The number of shares of Stock subject to your Award will be adjusted
from time to time for stock dividends and other capitalization adjustments, as provided in the
Plan.

6. SECURITIES LAW COMPLIANCE. The grant of your Award and the issuance of any shares of Stock
pursuant to this Award shall be subject to compliance with all applicable requirements of federal,
state or foreign law with respect to such securities. You may not be issued any shares of Stock
pursuant to this Award if the issuance of shares of Stock would constitute a violation of any
applicable federal, state or foreign securities laws or other law or regulations or the
requirements of any stock exchange or market system upon which the Stock may then be listed. In
addition, you may not be issued any shares of Stock pursuant to this Award unless (i) a
registration statement under the Securities Act shall at the time of issuance be in effect with
respect to the shares of Stock or (ii) in the opinion of legal counsel to the Company, the shares
of Stock may be issued in accordance with the terms of an applicable exemption from the
registration requirements of the Securities Act. As a condition to the issuance of any shares of
Stock pursuant to this Award, the Company may require you to satisfy any qualifications that may be
necessary or appropriate, to evidence compliance with any
applicable law or regulation and to make any representation or warranty with respect thereto
as may be requested by the Company.

 

5

 

7. RESTRICTIVE LEGENDS. The shares of Stock issued pursuant to this Award shall be endorsed
with appropriate legends, if any, determined by the Company.

8. TRANSFERABILITY. Neither the RSUs nor any shares of Stock subject to this Award may be
subject to alienation, garnishment, execution or levy of any kind, and any attempt to do so will
not be recognized. Notwithstanding the foregoing, by delivering written notice to the Company, in
a form satisfactory to the Company, you may designate a third party who, in the event of your
death, shall thereafter be entitled to receive any distribution of shares of Stock pursuant to
Section 3 of this Award Agreement.

9. AWARD NOT AN EMPLOYMENT CONTRACT. Your Award is not an employment or service contract, and
nothing in your Award shall be deemed to create in any way whatsoever any obligation on your part
to continue in the employment or service of the Company. In addition, nothing in your Award shall
obligate the Company, its stockholders, board of directors, officers or employees to continue any
relationship that you might have as an employee, director or consultant for the Company.

10. UNSECURED OBLIGATION. Your Award is unfunded, and you shall be considered an unsecured
creditor of the Company with respect to the Company’s obligation, if any, to issue shares of Stock
pursuant to an Earned Award under this Award Agreement. You shall not have voting or any other
rights as a stockholder of the Company with respect to the Stock acquired pursuant to this Award
Agreement until such Stock is issued to you pursuant to this Award Agreement. Upon such issuance,
you will obtain full voting and other rights as a stockholder of the Company with respect to the
Stock so issued. Nothing contained in this Award Agreement, and no action taken pursuant to its
provisions, shall create or be construed to create a trust of any kind or a fiduciary relationship
between you and the Company or any other person.

11. WITHHOLDING OBLIGATIONS. Regardless of any action taken by the Company, with respect to
any or all income, employment, social insurance, or payroll taxes, payment on account or other
tax-related withholding (“Tax-Related Items”), you acknowledge that the ultimate liability for all
Tax-Related Items legally due by you is, and remains, your responsibility and that the Company (i)
makes no representations or undertakings regarding the treatment of any Tax-Related Items in
connection with any aspect of your Award, the subsequent sale of shares of Stock acquired pursuant
to this Award, or the receipt of any dividends and (ii) does not commit to structure the terms of
the grant or any other aspect of your Award to reduce or eliminate your liability for Tax-Related
Items. At the time any Earned Award is determined, at the time you vest in such Award, at the time
you receive a distribution of shares of Stock pursuant to such Award, or at any other time
reasonably as requested by the Company, you shall pay or make adequate arrangements satisfactory to
the Company to satisfy all withholding obligations. In this regard, at the time you receive a
distribution of shares of Stock, or at any other time as reasonably requested by the Company, you
hereby authorize the withholding of that number of whole vested shares of Stock otherwise
deliverable to you pursuant to this Award
Agreement having a fair market value not in excess of the amount of the Tax-Related Items
determined by the applicable minimum statutory rates. Finally, you shall pay to the Company any
amount of the Tax-Related Items that the Company may be required to withhold as a result of your
participation in the Plan that cannot be satisfied by the means previously described. The Company
shall have no obligation to deliver shares of Stock until you have satisfied the obligations in
connection with the Tax-Related Items as described in this section.

 

6

 

12. DELIVERY OF DOCUMENTS AND NOTICES. Any document relating to participating in the Plan
and/or notice required or permitted hereunder shall be given in writing and shall be deemed
effectively given (except to the extent that this Award Agreement provides for effectiveness only
upon actual receipt of such notice) upon personal delivery, deposit with UPS or other
nationally-recognized overnight delivery service (fees prepaid), electronic delivery, or upon
deposit in the U.S. Post Office or foreign postal service, by registered or certified mail (postage
and fees prepaid). Notices to the Company shall be addressed to Jos. A. Bank Clothiers, Inc., 500
Hanover Pike, Hampstead, Maryland 21074, Attention: General Counsel. Notices to you shall be
addressed to your regular mail address or e-mail address as contained in the records of the
Company. Either party may, at any time, in the manner set forth for giving notices to the other,
set forth a different address to which notices to it shall be sent. Notices shall be deemed to
have been given when received or refused by the party to which it was sent or delivered.
Notwithstanding anything to the contrary contained herein, any writing actually received by the
party to whom it is addressed shall be sufficient notice hereunder.

(a) Description of Electronic Delivery. The Plan document, Plan prospectus, Award Agreement
and proxy statements and financial reports of the Company (including any filings with the
Securities and Exchange Commission), may be delivered to you electronically. Such means of delivery
may include but do not necessarily include the delivery of a link to a Company intranet or the
internet site of a third party involved in administering the Plan, the delivery of the document via
e-mail or such other delivery determined at the Committee’s discretion.

(b) Consent to Electronic Delivery. You acknowledge that you have read Section 12 of this
Award Agreement and consent to the electronic delivery of the documents identified in Section 12 of
this Award Agreement. You acknowledge that you may receive from the Company a paper copy of any
documents delivered electronically at no cost if you contact the Company by telephone, through a
postal service or electronic mail.

13. APPLICATION OF SECTION 409A. Notwithstanding any other provision of this Award Agreement,
to the extent that (i) one or more of the payments or benefits received or to be received by you
pursuant to this Award Agreement would constitute deferred compensation subject to the requirements
of Section 409A of the Code, and (ii) you are a “specified employee” within the meaning of Section
409A of the Code, then such payment or benefit (or portion thereof) will be delayed until the
earliest date following your “separation from service” with Company within the meaning of Section
409A of the Code on which the Company can provide such payment or benefit to you without your
incurrence of any additional tax or interest pursuant to Section 409A of the Code, with all
payments or benefits due thereafter occurring in accordance with the original schedule. In
addition, this Award and the payments and benefits to
be provided hereunder are intended to comply in all respects with the applicable provisions of
Section 409A of the Code. Any reference to ‘termination of employment’ in this Agreement shall
mean ‘separation from service’ as defined under the default rules of Treasury regulations issued
under Code Section 409A.

 

7

 

14. DATA PRIVACY CONSENT. You hereby explicitly and unambiguously consent to the collection,
use and transfer, in electronic or other form, of your personal data as described in this document
by the Company for the exclusive purpose of implementing, administering and managing your
participation in the Plan. You understand that the Company holds certain personal information
about you, including, but not limited to, your name, home address and telephone number, date of
birth, social insurance number or other identification number, salary, nationality, job title, any
shares of Stock or directorships held in the Company, details of all Awards or any other
entitlement to shares of Stock awarded, canceled, exercised, vested, unvested or outstanding in
your favor, for the purpose of implementing, administering and managing the Plan (“Data”). You
understand that Data may be transferred to any third parties assisting in the implementation,
administration and management of the Plan, that these recipients may be located in your country or
elsewhere, and that the recipient’s country may have different data privacy laws and protections
than your country. You authorize the recipients to receive, possess, use, retain and transfer the
Data, in electronic or other form, for the purposes of implementing, administering and managing
your participation in the Plan, including any requisite transfer of such Data as may be required to
a broker or other third party with whom you may elect to deposit any shares of Stock pursuant to an
Actual Award. You understand that you may, at any time, view such Data and request any necessary
correction to such Data.

15. HEADINGS. The headings of the Sections in this Award Agreement are inserted for
convenience only and shall not be deemed to constitute a part of this Award Agreement or to affect
the meaning of this Award Agreement.

16. AMENDMENT. The Committee may, without notice, amend, suspend or terminate the Plan;
provided, however, that no such action may adversely affect any then outstanding Award unless (i)
expressly provided by the Committee and (ii) with the consent of you, unless such action is
necessary to comply with any applicable law, regulation or rule.

17. MISCELLANEOUS.

(a) The rights and obligations of the Company under your Award shall be transferable to any
one or more persons or entities, and all covenants and agreements hereunder shall inure to the
benefit of, and be enforceable by the Company’s successors and assigns.

(b) You agree upon request to execute any further documents or instruments necessary or
desirable in the sole determination of the Company to carry out the purposes or intent of your
Award.

(c) You acknowledge and agree that you have reviewed your Award in its entirety, have had an
opportunity to obtain the advice of counsel prior to executing and accepting your Award and fully
understand all provisions of your Award.

 

8

 

(d) You acknowledge receipt of, and understand and agree to this Award Agreement and the Plan.
You further acknowledge that this Award Agreement and the Plan set forth the entire understanding
between the Company and you regarding the Award and supersede all prior oral and written agreements
on that subject.

18. GOVERNING PLAN DOCUMENT. Your Award is subject to all the provisions of the Plan, the
provisions of which are hereby made a part of your Award, and is further subject to all
interpretations, amendments, rules and regulations which may from time to time be promulgated and
adopted pursuant to the Plan. In the event of any conflict between the provisions of this Award
Agreement and those of the Plan, the provisions of the Plan shall control.

19. APPLICABLE LAW. This Award Agreement shall be governed by the laws of the State of
Delaware to the extent not preempted by federal law.

20. REPAYMENT OBLIGATION. In the event that (a) the Company issues a restatement of financial
results to correct a material error and (b) the Committee determines, in good faith, that your
fraud or willful misconduct was a significant contributing factor to the need to issue such
restatement and (c) some or all of the RSUs that were granted and/or earned prior to such
restatement would not have been granted and/or earned, as applicable, based upon the restated
financial results, you shall immediately return to the Company any shares of Stock or the pre-tax
income derived from any disposition of the Stock previously received in settlement of this Award
that would not have been granted and/or earned based upon the restated financial results (the
“Repayment Obligation”). The Company shall be able to enforce the Repayment Obligation by all
legal means available, including, without limitation, by withholding such amount from other sums
owed by the Company to you.

IN WITNESS WHEREOF, the parties hereto have executed this Award Agreement as of the date first
set forth above.

	 	 	 	 	 	 	 	 	 
	COMPANY:

JOS. A. BANK CLOTHIERS, INC.	 	 	 	PARTICIPANT:	 	 
	 
	 	 	 	 	 	 	 	 
	By:

	 	/s/ Charles D. Frazer
 

Charles D. Frazer
	 	 	 	/s/ R. Neal Black
 

R. NEAL BLACK
	 	 
	 

	 	Senior Vice President and General Counsel	 	 	 	 	 	 

 

9

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00175-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00175-of-00352.parquet"}]]