Document:

Exhibit 10.1

Exhibit 10.1

AIRCRAFT TIME SHARING AGREEMENT

(Part 91 Operations)

Dated as of the 14 day of April, 2011,

between

Las Vegas Sands Corp.,

as Provider,

and

Interface Operations, LLC

as Recipient,

concerning one Raytheon Hawker 800XP aircraft bearing

U.S. registration number N885LS

and

manufacturer’s serial number 258428

* * *

INSTRUCTIONS FOR COMPLIANCE WITH

“TRUTH IN LEASING” REQUIREMENTS UNDER FAR § 91.23

Within 24 hours after execution of this Agreement:

mail a copy of the executed document to the

following address via certified mail, return receipt requested:

Federal Aviation Administration

Aircraft Registration Branch

ATTN: Technical Section

P.O. Box 25724

Oklahoma City, Oklahoma 73125

At least 48 hours prior to the first flight to be conducted under this Agreement:

provide notice, using the FSDO Notification Letter in Exhibit A,

of the departure airport and proposed time of departure of the

first flight, by facsimile, to the Flight Standards

District Office located nearest the departure airport.

Carry a copy of this Agreement in the aircraft at all times.

 

 

 

AIRCRAFT TIME SHARING AGREEMENT

(Part 91 Operations)

This Aircraft Time Sharing Agreement (the “Agreement”) is made and entered into as of
April 14th , 2011, by and between Las Vegas Sands Corp, a Nevada company
(“Provider”), and Interface Operations, LLC, a Nevada corporation (“Recipient”) (together,
“Parties”).

In consideration of the mutual promises, agreements, covenants, warranties, representations
and provisions contained herein, the parties agree as follows:

1. Time Sharing of the Aircraft. Subject to the terms and conditions of this
Agreement, Provider shall provide Recipient with transportation services on a non-exclusive basis
using Provider’s Raytheon Hawker 800XP aircraft, serial number 258428, registration
N885LS (the “Aircraft”). This Agreement is intended to be a time sharing agreement within
the meaning of 14 C.F.R. Section 91.501(c)(1).

2. Term. The term of this Agreement (the “Term”) shall commence on April
14th , 2011 and end on December 31, 2012 (the “Expiration Date”). The
Expiration Date (as it may be extended) shall be automatically extended by one year if neither
party has given notice of non-renewal to the other at least thirty (30) days before the then
Expiration Date. Notwithstanding anything to the contrary in this section 2, either party may
terminate this Agreement on thirty (30) days’ notice, provided that such party is not then in
default.

3. Delivery to Recipient. Upon the request of Recipient, subject to the availability
of the Aircraft as determined by Provider, Provider shall make the Aircraft available to Recipient
at such location as Recipient may reasonably request. Recipient acknowledges that Provider
currently bases the Aircraft at McCarran International Airport, Las Vegas, Nevada (the “Base”).

4. Fee.

(a) Recipient shall pay Provider, within 30 days of receipt of an invoice from Provider or its
representative for Recipient’s use of the Aircraft during the Term, an amount not to exceed the
costs identified in this paragraph (a) or such lesser amount as may be agreed in writing by the
Parties (referred to collectively as the “Fee”):

(i) twice the cost of the fuel, oil and other additives consumed;

(ii) all fees, including fees for landing, parking, hangar, tie-down, handling, customs, use
of airways and permission for overflight;

(iii) all expenses for catering and in-flight entertainment materials;

(iv) all expenses for flight planning and weather contract services;

(v) all travel expenses for pilots, flight attendants and other flight support personnel,
including food, lodging and ground transportation; and

(vi) all communications charges, including in-flight telephone.

 

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(b) Recipient shall be responsible for arranging and paying for all passenger ground
transportation and accommodation in connection with Recipient’s use of the Aircraft.

(c) For the sake of clarification, flights to ferry the Aircraft to the delivery location
specified by Recipient pursuant to section 3, and flights to return the Aircraft to the Base or
such other location as the parties agree pursuant to section 5, shall be deemed to be use of the
Aircraft by Recipient.

5. Return to Base. On the earlier of the Expiration Date or the termination of this
Agreement pursuant to section 17(a)(i) and, unless Provider agrees to the contrary, upon the
conclusion of each flight of the Aircraft by Recipient under this Agreement, the Aircraft shall be
returned to the Base or such other location as Provider and Recipient may agree.

6. Use of Aircraft.

(a) Recipient shall use the Aircraft only for the transportation of its directors, officers,
employees and guests and shall not obtain compensation for such transportation from any person.

(b) Recipient shall not violate, and shall not permit any of its employees, agents or guests
to violate, any applicable law, regulation or rule of the United States, or any state, territory or
local authority thereof, or any foreign government or subdivision thereof, and shall not bring or
cause to be brought or carried on board the Aircraft, or permit any employee, agent or guest to
bring or cause to be brought or carried on board the Aircraft, any contraband or unlawful articles
or substances, or anything that is contraband or is an unlawful article of substance in any
jurisdiction into or over which the Aircraft is to operate on behalf of Recipient.

(c) Recipient shall, and shall cause its employees, agents and guests to, comply with all
lawful instructions and procedures of Provider and its agents and employees regarding the Aircraft,
its operation or flight safety.

(d) Recipient acknowledges that its discretion in determining the origin and destination of
flights under this Agreement shall be subject to the following limitations: (i) such origin and
destination, and the routes to reach such origin and destination, are not within or over (A) an
area of hostilities, (B) an area excluded from coverage under the insurance policies maintained by
Provider with respect to the Aircraft or (C) a country or jurisdiction for which exports or
transactions are subject to specific restrictions under any United States export or other law or
United Nations Security Council Directive, including without limitation, the Trading With the Enemy
Act, 50 U.S.C. App. Section 1 et seq., the International Emergency Economic Powers Act, 50 U.S.C.
Sections 1701 et seq. and the Export Administration Act, 50 U.S.C. App. Sections 2401 et seq.; (ii)
the flights proposed by Recipient shall not cause (A) the Aircraft or any part thereof (1) to be
used predominately outside of the United States within the meaning of the Section 168(g)(1)(A) of
the Internal Revenue Code of 1986, as amended (the “Code”), and (2) to fail to be operated to and
from the United States within the meaning of Section 168(g)(4)(A) of the Code; or (B) any item of
income, gain, deduction, loss or credit with respect to the transactions contemplated by this
Agreement to be treated as derived from, or allocable to,
sources without the United States within the meaning of Section 862 of the Code; (iii) the
proposed flights do not require the flight crew to exceed any flight or duty time limitations that
Provider imposes upon its flight crews; and (iv) in the judgment of Provider, the safety of flight
is not jeopardized.

 

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(e) Recipient acknowledges that, if, in the view of Provider (including, its
pilot-in-command), flight safety may be jeopardized, Provider may terminate a flight or refuse to
commence it without liability for loss, injury or damage occasioned by such termination or refusal.
Recipient further acknowledges that, in accordance with applicable Federal Aviation Regulations
(“FAR”), the qualified flight crew provided by Provider will exercise all of its duties and
responsibilities in regard to the safety of each flight conducted hereunder and Recipient
specifically agrees that the flight crew, in its sole discretion, may terminate any flight, refuse
to commence any flight, or take other action which in the considered judgment of the
pilot-in-command is necessitated by considerations of safety. No such action of the
pilot-in-command shall create or support any liability for loss, injury, damage or delay to
Recipient or any other person. Recipient acknowledges and agrees that Provider shall not be liable
under any circumstances for delay or failure to furnish the Aircraft and crew pursuant to this
Agreement or for any loss, damage, cost or expense arising from or related to, directly or
indirectly, any delay, cancellation or failure to furnish any transportation pursuant to this
Agreement, including, but not limited to, when caused by government regulation, law or authority,
mechanical difficulty or breakdown, war, civil commotion, strikes or other labor disputes, weather
conditions, acts of God, public enemies or any other cause beyond Provider’s control.

(f) Recipient acknowledges that (i) the Aircraft is owned by Provider and (ii) the rights of
Recipient in and to the Aircraft are subject and subordinate to all rights of Provider in and to
the Aircraft, including without limitation the right of Provider to inspect and take possession of
the Aircraft from time to time in accordance applicable law.

Accordingly, Recipient (i) waives any right that it might have to any notice of Provider’s
intention to inspect, take possession or exercise any other right or remedy in respect of the
Aircraft.

(g) THE AIRCRAFT IS BEING PROVIDED BY THE PROVIDER TO THE RECIPIENT HEREUNDER ON A COMPLETELY
“AS IS, WHERE IS,” BASIS, WHICH IS ACKNOWLEDGED AND AGREED TO BY THE RECIPIENT. THE WARRANTIES AND
REPRESENTATIONS SET FORTH IN THIS AGREEMENT ARE EXCLUSIVE AND IN LIEU OF ALL OTHER REPRESENTATIONS
OR WARRANTIES WHATSOEVER, EXPRESS OR IMPLIED, AND PROVIDER HAS NOT MADE AND SHALL NOT BE CONSIDERED
OR DEEMED TO HAVE MADE (WHETHER BY VIRTUE OF HAVING PROVIDED THE AIRCRAFT UNDER THIS AGREEMENT, OR
HAVING ACQUIRED THE AIRCRAFT, OR HAVING DONE OR FAILED TO DO ANY ACT, OR HAVING ACQUIRED OR FAILED
TO ACQUIRE ANY STATUS UNDER OR IN RELATION TO THIS AGREEMENT OR OTHERWISE) ANY OTHER REPRESENTATION
OR WARRANTY WHATSOEVER, EXPRESS OR IMPLIED, WITH RESPECT TO THE AIRCRAFT OR TO ANY PART THEREOF,
AND SPECIFICALLY, WITHOUT LIMITATION, IN THIS RESPECT PROVIDER DISCLAIMS ALL REPRESENTATIONS AND
WARRANTIES

 

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CONCERNING THE TITLE, AIRWORTHINESS, VALUE, CONDITION, DESIGN,
MERCHANTABILITY, COMPLIANCE WITH SPECIFICATIONS, CONSTRUCTION AND CONDITION OF THE AIRCRAFT,
OR FITNESS FOR A PARTICULAR USE OF THE AIRCRAFT AND AS TO THE ABSENCE OF LATENT AND OTHER DEFECTS,
WHETHER OR NOT DISCOVERABLE, AND AS TO THE ABSENCE OF ANY INFRINGEMENT OR THE LIKE, HEREUNDER OF
ANY PATENT, TRADEMARK OR COPYRIGHT, AND AS TO THE ABSENCE OF OBLIGATIONS BASED ON STRICT LIABILITY
IN TORT, OR AS TO THE QUALITY OF THE MATERIAL OR WORKMANSHIP OF THE AIRCRAFT OR ANY PART THEREOF OR
ANY OTHER REPRESENTATION OR WARRANTY WHATSOEVER, EXPRESS OR IMPLIED (INCLUDING ANY IMPLIED WARRANTY
ARISING FROM A COURSE OF PERFORMANCE OR DEALING OR USAGE OF TRADE), WITH RESPECT TO THE AIRCRAFT OR
ANY PART THEREOF. RECIPIENT HEREBY WAIVES, RELEASES, DISCLAIMS AND RENOUNCES ALL EXPECTATION OF OR
RELIANCE UPON ANY SUCH AND OTHER WARRANTIES, OBLIGATIONS AND LIABILITIES OF PROVIDER AND RIGHTS,
CLAIMS AND REMEDIES OF RECIPIENT AGAINST PROVIDER, EXPRESS OR IMPLIED, ARISING BY LAW OR
OTHERWISE, INCLUDING BUT NOT LIMITED TO (I) ANY IMPLIED WARRANTY OF MERCHANTABILITY OF FITNESS FOR
ANY PARTICULAR USE, (II) ANY IMPLIED WARRANTY ARISING FROM COURSE OF PERFORMANCE, COURSE OF DEALING
OR USAGE OF TRADE, (III) ANY OBLIGATION, LIABILITY, RIGHT, CLAIM OR REMEDY IN TORT, WHETHER OR NOT
ARISING FROM THE NEGLIGENCE OF PROVIDER, ACTUAL OR IMPUTED, AND (IV) ANY OBLIGATION, LIABILITY,
RIGHT, CLAIM OR REMEDY FOR LOSS OF OR DAMAGE TO THE AIRCRAFT, FOR LOSS OF USE, REVENUE OR PROFIT
WITH RESPECT TO THE AIRCRAFT, OR FOR ANY OTHER DIRECT, INDIRECT, INCIDENTAL OR CONSEQUENTIAL
DAMAGES.

7. Pilots. For all flights of the Aircraft by Recipient pursuant to this Agreement,
Provider shall cause the Aircraft to be operated by pilots who are duly qualified under the Federal
Aviation Regulations, including without limitation, with respect to currency and type-rating, and
who meet all other requirements established and specified by the insurance policies required
hereunder.

8. Operation and Maintenance Responsibilities of Provider. Provider shall be in
operational control of the Aircraft at all times during the Term and shall operate the Aircraft
under FAR Part 91. Provider shall be solely responsible for the operation and maintenance of the
Aircraft.

9. Liens. Recipient shall not directly or indirectly create or incur any liens on or
with respect to (i) the Aircraft or any part thereof, (ii) Provider’s title thereto, (iii) any
interest of Provider therein, (and Recipient will promptly, at its own expense, take such action as
may be necessary to discharge any such lien), except (a) the respective rights of Provider and
Recipient as herein provided and (b) liens created by or caused to be created by Provider.

 

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10. Taxes.

(a) Except for any taxes on, or measured by, the net income of Provider imposed by the United
States government or any state or local government or taxing authority in
the United States, which shall be the sole responsibility of Provider, Recipient shall pay to
and indemnify Provider and its employees and agents (collectively, the “Indemnities”) for, and hold
each Indemnity harmless from and against, on an after-tax basis, all other income, personal
property, ad valorem, franchise, gross receipts, rental, sales, use, excise, value-added, leasing,
leasing use, stamp, landing, airport use, or other taxes, levies, imposts, duties, charges, fees or
withholdings of any nature, together with any penalties, fines, or interest thereon (“Taxes”)
arising out of the transactions between Provider and Recipient contemplated by this Agreement or
Recipient’s use of the Aircraft and imposed against any Indemnity, Recipient, or the Aircraft, or
any part thereof, by any federal or foreign government, any state, municipal or local subdivision,
any agency or instrumentality thereof, or other taxing authority upon or with respect to the
Aircraft, or any part thereof, or upon the ownership, delivery, leasing, possession, use,
operation, return, transfer or release thereof, or upon the rentals, receipts or earnings arising
there from. Recipient shall have the right to contest any Taxes attributable to Recipient;
provided that (a) Recipient shall have given to Provider written notice of any such Taxes, which
notice shall state that such Taxes are being contested by Recipient in good faith with due
diligence and by appropriate proceedings and that Recipient has agreed to indemnify each Indemnity
against any cost, expense, liability or loss (including, without limitation, reasonable attorney
fees) arising from or in connection with such contest; (b) in Provider’s sole judgment, Provider
has received adequate assurances of payment of such contested Taxes; and (c) counsel for Provider
shall have determined that the nonpayment of any such Taxes or the contest of any such payment in
such proceedings does not, in the sole opinion of such counsel, adversely affect the title,
property or rights of Provider. In case any report or return is required to be made with respect
to any Taxes attributable to Recipient’s use of the Aircraft, Recipient will either (after notice
to Provider) make such report or return in such manner as will show the ownership of the Aircraft
in Provider and send a copy of such report or return to Provider, or will notify Provider of such
requirement and make such report or return in such manner as shall be satisfactory to Provider.
Provider agrees to cooperate fully with Recipient in the preparation of any such report or return.

(b) Without limiting the generality of the foregoing, Recipient shall pay to Provider any
federal excise taxes applicable to Recipient’s use, or Recipient’s payment for Recipient’s use, of
the Aircraft.

11. Insurance. Provider shall maintain in effect at its own expense throughout the
Term, insurance policies containing such provisions and providing such coverages as Provider deems
appropriate. All insurance policies shall (a) name Recipient as an additional insured, (b) not be
subject to any offset by any other insurance carried by Provider or Recipient, (c) contain a waiver
by the insurer of any subrogation rights against any of Recipient, (d) insure the interest of
Recipient, regardless of any breach or violation by the Provider or of any other person (other than
is solely attributable to the gross negligence or willful misconduct of Recipient) of any warranty,
declaration or condition contained in such policies, and (e) include a severability of interests
endorsement providing that such policy shall operate in the same manner (except for the limits of
coverage) as if there were a separate policy covering each insured.

 

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12. Loss or Damage

(a) Recipient shall indemnify, defend and hold harmless Provider and its officers, directors,
agents, shareholders, members, managers and employees from and against
any and all liabilities, claims (including, without limitation, claims involving or alleging
Provider’s negligence and claims involving strict or absolute liability in tort), demands, suits,
causes of action, losses, penalties, fines, expenses (including, without limitation, attorney fees)
or damages (collectively, “Claims”), whether or not Provider may also be indemnified as to any such
Claim by any other person, to the extent relating to or arising out of Recipient’s breach of this
Agreement or any damage (other than ordinary wear and tear) to the Aircraft caused by Recipient,
its employees or guests, including any Event of Default of this Agreement or the Cape Town
Convention or Aircraft Protocol provisions to the extent applicable to this Agreement.

(b) In the event of loss, theft, confiscation, damage to or destruction of the Aircraft
subject to this Agreement, or any engine or part thereof, from any cause whatsoever (a “Casualty
Occurrence”) occurring at any time when Recipient is using the Aircraft, Recipient shall furnish
such information and execute such documents as may be necessary or required by Provider or
applicable law. Recipient shall cooperate fully in any investigation of any claim or loss
processed by Provider under the Aircraft insurance policy/policies and in seeking to compel the
relevant insurance company or companies to pay any such claims.

(c) In the event of total loss or destruction of all or substantially all the Aircraft subject
to this Agreement, or damage to such Aircraft that causes it to be irreparable in the opinion of
Provider or any insurance carrier providing hull coverage with respect to such Aircraft, or in the
event of confiscation or seizure of the Aircraft, this Agreement shall automatically terminate;
provided, however, that such termination of this Agreement shall not terminate the obligation of
Recipient to cooperate with Provider in seeking to compel the relevant insurance company or
companies to pay claims arising from such loss, destruction, damage, confiscation or seizure;
provided, further, that the termination of this Agreement shall not affect the obligation of
Recipient to pay Provider all accrued and unpaid Fee and all other accrued and unpaid amounts due
hereunder.

(d) For the sake of clarification, if the Aircraft suffers a Casualty Occurrence, it shall be
deemed not available to Recipient until such time thereafter as Provider has returned the Aircraft
to service. Provider shall have no obligation to return the Aircraft to service after any Casualty
Occurrence.

13. Cape Town Treaty Compliance.

(a) For purposes of the Agreement: (i) “Aircraft Objects” means each airframe, aircraft
engine and helicopter as defined in Section 2 of Article I of the Aircraft Protocol, including the
Aircraft referred to in this Agreement, including its “associated rights”; (ii) “Cape Town Treaty”
means collectively the Convention on International Interests in Mobile Equipment (“Cape Town
Convention”) and the Protocol to the Convention Specific to Aircraft Equipment (“Aircraft
Protocol”); (iii) “International Interest” means an interest held by a Provider to which Article 2
of the Cape Town Convention applies, including an interest in the Aircraft Object; (iv)
“International Registry” means the international registration facilities established for the
purposes of the Cape Town Convention or the Aircraft Protocol in Dublin, Ireland.

 

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(b) Recipient represents, warrants, and covenants: (i) Recipient has complied or will comply
on Provider’s request with the formalities to provide for an International Interest in
the Aircraft under Article 2 of the Cape Town Convention and Article V of the Aircraft
Protocol; (ii) this Agreement provides for an International Interest in the airframe and engines
comprising parts of the Aircraft; (iii) Recipient has not, and will not, register or consent to the
registration of any prospective International Interest (as defined in the Cape Town Convention) or
International Interest on the International Registry in respect of the Aircraft Object covered by
this Agreement except this Agreement as provided above, and it will not cause or permit such other
registration, or consent to registration, to occur without the prior written consent of Provider;
(iv) Recipient will not cause or permit any registration with respect to this Agreement to be
discharged, terminated or modified in any respect except by written agreement with Provider; (v)
this Agreement shall be enforceable in accordance with its terms; (vi) Recipient has the power and
authority to make or cause to be made all registrations at the International Registry, including,
without limitation, all related filings; and (vii) the description of the Aircraft Object,
including each engine, covered by this Agreement is true, accurate, and complete for all purposes,
including complying with the description required for effective registration of an International
Interest of such Aircraft Object at the International Registry and at the Federal Aviation
Administration Aircraft Registry, and such description accurately and completely includes (a) the
name of the manufacturer, (b) the manufacturers’ serial number(s), and (c) its generic model
designation, supplemented as may be necessary to ensure uniqueness in accordance with the
International Registry regulations and operational manual of the Aircraft Protocol.

(c) The terms of the Agreement (and not the Cape Town Treaty to the extent permitted thereby)
shall govern the rights and remedies of Provider upon a material breach or default hereunder by
Recipient.

(d) Provider and Recipient agree to take such further and other actions, execute and deliver
such other documents and pay such reasonable expenses, including registration fees, as Provider
shall request to meet the requirements of, and to protect and perfect the interests of Provider
under, the Cape Town Treaty and make any registration arising hereunder at the International
Registry;

(e) Recipient shall pay all costs arising under the Cape Town Treaty, including all
registration fees for the International Registry, on demand of Provider.

14. Representations, Warranties and Agreements of Recipient. Recipient represents,
warrants and agrees as follows:

(a) Authorization. Recipient has all necessary powers to enter into the transactions
contemplated in this Agreement and has taken all actions required to authorize and approve this
Agreement.

(b) Identification. Recipient shall keep a legible copy of this Agreement in the Aircraft at
all times when Recipient is using the Aircraft.

 

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15. Representations, Warranties and Agreements of Provider. Provider represents,
warrants and agrees as follows:

(a) Authorization. Provider has all necessary powers to enter into the transaction
contemplated in this Agreement and has taken all action necessary to authorize and approve this
Agreement.

(b) FAA Registration. The Aircraft registration with the FAA names Provider as the owner of
the Aircraft.

16. Event of Default. The following shall constitute an Event of Default:

(a) Recipient shall not have made payment of any amount due under section 4 within ten (10)
days after the same shall become due; or

(b) Recipient shall have failed to perform or observe (or cause to be performed or observed)
any other covenant or agreement required to be performed under this Agreement and such failure
shall continue for twenty (20) days after written notice thereof from Provider to Recipient; or

(c) Recipient (i) becomes insolvent, (ii) fails to pay its debts when due, (iii) makes any
assignment for the benefit of creditors, (iv) seeks relief under any bankruptcy law or similar law
for the protection of debtors, (v) suffers a petition of bankruptcy filed against it that is not
dismissed within thirty (30) days, or (vi) suffers a receiver or trustee to be appointed for itself
or any of its assets, and such is not removed within thirty (30) days.

17. Provider’s Remedies

(a) Upon the occurrence of any Event of Default, Provider may, at its option, exercise any or
all remedies available at law or in equity, including, without limitation, any or all of the
following remedies, as Provider in its sole discretion shall elect:

(i) By notice in writing, terminate this Agreement, whereupon all rights of Recipient to the
use of the Aircraft or any part thereof shall absolutely cease and terminate, but Recipient shall
remain liable as provided in this Agreement and Provider, at its option, may enter upon the
premises where the Aircraft is located and take immediate possession of and remove the same by
summary proceedings or otherwise. Recipient specifically authorizes Provider’s entry upon any
premises where the Aircraft may be located for the purpose of, and waives any cause of action it
may have arising from, a peaceful retaking of the Aircraft. Recipient shall forthwith pay to
Provider an amount equal to the total accrued and unpaid Fees and all other accrued and unpaid
amounts due hereunder, plus any and all losses and damages incurred or sustained by Provider by
reason of any default by Recipient under this Agreement.

(b) Recipient shall be liable for all costs, charges and expenses, including reasonable
attorney fees and disbursements, incurred by Provider by reason of the occurrence of any Event of
Default or the exercise of Provider’s remedies with respect thereto.

 

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18. General Provisions

(a) Headings. The headings contained in this Agreement are for reference purposes only and
shall not affect in any way the construction or interpretation of this Agreement.

(b) Partial Invalidity. If any provision of this Agreement, or the application thereof to any
person, place or circumstance, shall be held by a court of competent jurisdiction to be illegal,
invalid, unenforceable or void, then such provision shall be enforced to the extent that it is not
illegal, invalid, unenforceable or void, and the remainder of this Agreement, as well as such
provision as applied to other persons, shall remain in full force and effect.

(c) Waiver. With regard to any power, remedy or right provided in this Agreement or otherwise
available to any party, (i) no waiver or extension of time shall be effective unless expressly
contained in a writing signed by the waiving party, (ii) no alteration, modification or impairment
shall be implied by reason of any previous waiver, extension of time, delay or omission in exercise
or other indulgence, and (iii) waiver by any party of the time for performance of any act or
condition hereunder does not constitute waiver of the act or condition itself.

(d) Notices. Any notice or other communication required or permitted under this Agreement
shall be in writing and shall be deemed duly given upon actual receipt, if delivered personally or
by telecopy; or three (3) days following deposit in the United States mail, if deposited with
postage pre-paid, return receipt requested, and addressed to such address as may be specified in
writing by the relevant party from time to time, and which shall initially be as follows:

	 	 	 
	To Provider at:

	 	Las Vegas Sands Corp.
	 

	 	3355 Las Vegas Blvd. South
	 

	 	Las Vegas, Nevada 89109
	 

	 	Attn: General Counsel
	 

	 	Fax: (702) 733-5088
	 

	 	Tel.: (702) 733-5631
	 
	 	 
	To Recipient at:

	 	Interface Operations, LLC
	 

	 	300 First Avenue
	 

	 	Needham, Massachusetts 02494
	 

	 	Attn: Stephen J. O’Connor
	 

	 	Fax: (781) 449-6616

Tel. (781) 449-6500

No objection may be made to the manner of delivery of any notice or other communication in writing
actually received by a party.

(e) Massachusetts Law. This Agreement shall be governed by and construed in accordance with
the laws of the Commonwealth of Massachusetts, regardless of the choice of law provisions of
Massachusetts or any other jurisdiction.

 

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(f) Entire Agreement. This Agreement constitutes the entire agreement between the parties
pertaining to the subject matter contained in this Agreement and supersedes any prior or
contemporaneous agreements, representations and understandings, whether written or oral, of or
between the parties with respect to the subject matter of this Agreement. There are no
representations, warranties, covenants, promises or undertakings, other than those expressly set
forth or referred to herein.

(g) Amendment. This Agreement may be amended only by a written agreement signed by all of the
parties.

(h) Binding Effect; Assignment. This Agreement shall be binding on, and shall inure to the
benefit of, the parties to it and their respective successors and assigns; provided, however, that
Recipient may not assign any of its rights under this Agreement, and any such purported assignment
shall be null, void and of no effect.

(i) Attorney Fees. Should any action (including any proceedings in a bankruptcy court) be
commenced between any of the parties to this Agreement or their representatives concerning any
provision of this Agreement or the rights of any person or entity there under, solely as between
the parties or their successors, the party or parties prevailing in such action as determined by
the court shall be entitled to recover from the other party all of its costs and expenses incurred
in connection with such action (including, without limitation, fees, disbursements and expenses of
attorneys and costs of investigation).

(j) Remedies Not Exclusive. No remedy conferred by any of the specific provisions of this
Agreement is intended to be exclusive of any other remedy, and each and every remedy shall be
cumulative and shall be in addition to every other remedy given hereunder or now or hereafter
existing at law or in equity by statute or otherwise. The election of any one or more remedies
shall not constitute a waiver of the right to pursue other remedies.

(k) No Third Party Rights. Nothing in this Agreement, whether express or implied, is intended
to confer any rights or remedies under or by reason of this Agreement on any person other than the
parties to this Agreement and their respective successors and assigns, nor is anything in this
Agreement intended to relieve or discharge the obligation or liability of any third persons to any
party to this Agreement, nor shall any provision give any third person any right of subrogation or
action over or against any party to this Agreement.

(l) Counterparts. This Agreement may be executed in one or more counterparts, each of which
independently shall be deemed to be an original, and all of which together shall constitute one
instrument.

(m) Expenses. Each party shall bear all of its own expenses in connection with the
negotiation, execution and delivery of this Agreement.

(n) Broker/Finder Fees. Each party represents that it has dealt with no broker or finder in
connection with the transaction contemplated by this Agreement and that no broker or other person
is entitled to any commission or finder’s fee in connection therewith. Provider and Recipient each
agree to indemnify and hold harmless one another against any loss, liability,
damage, cost, claim or expense incurred by reason of any brokerage commission or finder’s fee
alleged to be payable because of any act, omission or statement of the indemnifying party.

 

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(o) Relationship of the Parties. Nothing contained in this Agreement shall in any way create
any association, partnership, joint venture, or principal-and-agent relationship between the
parties hereto or be construed to evidence the intention of the parties to constitute such.

(p) Limitation of Damages. Recipient waives any and all claims, rights and remedies against
Provider, whether express or implied, or arising by operation of law or in equity, for any
punitive, exemplary, indirect, incidental or consequential damages whatsoever arising out of this
Agreement.

(q) Survival. All representations, warranties, covenants and agreements, set forth in
sections 4, 5, 6(a), 6(e), 6(f), 6(g), 9, 10, 12, 14, 15, 17, and 18 of this Agreement shall
survive the expiration or termination of this Agreement.

19. Truth-In-Leasing

(a) WITHIN THE TWELVE (12) MONTH PERIOD PRECEDING THE DATE OF THIS AGREEMENT, THE AIRCRAFT HAS
BEEN INSPECTED AND MAINTAINED IN ACCORDANCE WITH THE PROVISIONS OF FAR 91.409.

(b) THE PARTIES HERETO CERTIFY THAT DURING THE TERM OF THIS AGREEMENT AND FOR OPERATIONS
CONDUCTED HEREUNDER, THE AIRCRAFT WILL BE MAINTAINED AND INSPECTED IN ACCORDANCE WITH THE
PROVISIONS OF FAR 91.409.

(c) PROVIDER ACKNOWLEDGES THAT WHEN IT OPERATES THE AIRCRAFT ON BEHALF OF RECIPIENT UNDER THIS
AGREEMENT, PROVIDER SHALL BE KNOWN AS, CONSIDERED, AND IN FACT WILL BE THE OPERATOR OF SUCH
AIRCRAFT. EACH PARTY HERETO CERTIFIES THAT IT UNDERSTANDS THE EXTENT OF ITS RESPONSIBILITIES, SET
FORTH HEREIN, FOR COMPLIANCE WITH APPLICABLE FEDERAL AVIATION REGULATIONS.

(d) AN EXPLANATION OF FACTORS BEARING ON OPERATIONAL CONTROL AND PERTINENT FEDERAL AVIATION
REGULATIONS CAN BE OBTAINED FROM THE NEAREST FEDERAL AVIATION ADMINISTRATION FLIGHT STANDARDS
DISTRICT OFFICE.

(e) THE PARTIES HERETO CERTIFY THAT A TRUE COPY OF THIS AGREEMENT SHALL BE CARRIED ON THE
AIRCRAFT AT ALL TIMES, AND SHALL BE MADE AVAILABLE FOR INSPECTION UPON REQUEST BY AN APPROPRIATELY
CONSTITUTED IDENTIFIED REPRESENTATIVE OF THE ADMINISTRATOR OF THE FAA.

 

- 12 -

 

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

	 	 	 	 	 	 	 	 	 	 	 	 	 
	PROVIDER:	 	RECIPIENT:	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	LAS VEGAS SANDS CORP.	 	INTERFACE OPERATIONS, LLC	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	By:	 	/s/ Michael A. Leven	 	By:	 	/s/ Sheldon G. Adelson	 	 
	 	 	 	 	 	 	 	 	 
	 

	 	Print:
	 	Michael Leven
	 	 	 	Print:
	 	Sheldon G. Adelson	 	 
	 

	 	Title:
	 	President and COO
	 	 	 	Title:
	 	President	 	 

concerning one Raytheon Hawker 800XP aircraft bearing

U.S. registration number N885LS

And

manufacturer’s serial number 258428

 

- 13 -exv10w9

Exhibit 10.9

THE AMB PROPERTY CORPORATION 2011

NOTIONAL ACCOUNT DEFERRED COMPENSATION PLAN

 

 

TABLE OF CONTENTS

	 	 	 	 	 	 	 
	 	 	 	 	Page
	 

	 	ARTICLE 1.
DEFINITIONS	 	 	 	 
	 
	 	 	 	 	 	 
	1.1

	 	“Account Balance”
	 	 	1	 
	1.2

	 	“Administrator”
	 	 	1	 
	1.3

	 	“Annual Installment Method”
	 	 	1	 
	1.4

	 	“Beneficiary”
	 	 	2	 
	1.5

	 	“Beneficiary Designation Form”
	 	 	2	 
	1.6

	 	“Board”
	 	 	2	 
	1.7

	 	“Change in Control”
	 	 	2	 
	1.8

	 	“Change in Control Benefits”
	 	 	3	 
	1.9

	 	“Claimant”
	 	 	3	 
	1.10

	 	“Code”
	 	 	3	 
	1.11

	 	“Committee”
	 	 	3	 
	1.12

	 	“Company”
	 	 	3	 
	1.13

	 	“Deduction Limitation”
	 	 	3	 
	1.14

	 	“Director”
	 	 	3	 
	1.15

	 	“Disability”
	 	 	3	 
	1.16

	 	“Disability Benefits”
	 	 	4	 
	1.17

	 	“Election Form”
	 	 	4	 
	1.18

	 	“Employee”
	 	 	4	 
	1.19

	 	“Employer(s)”
	 	 	4	 
	1.20

	 	“ERISA”
	 	 	4	 
	1.21

	 	“Exchange Act”
	 	 	4	 
	1.22

	 	“First Plan Year”
	 	 	4	 
	1.23

	 	“Fixed Date Payout”
	 	 	4	 
	1.24

	 	“Initial Account Credit”
	 	 	4	 
	1.25

	 	“Measurement Fund”
	 	 	4	 
	1.26

	 	“Merger”
	 	 	4	 
	1.27

	 	“Merger Agreement”
	 	 	4	 
	1.28

	 	“Non-Employee Director”
	 	 	4	 
	1.29

	 	“Notional Earnings Account”
	 	 	5	 
	1.30

	 	“Participant”
	 	 	5	 
	1.31

	 	“Partnership”
	 	 	5	 
	1.32

	 	“Plan”
	 	 	5	 
	1.33

	 	“Plan Year”
	 	 	5	 
	1.34

	 	“Pre-Retirement Survivor Benefits”
	 	 	5	 
	1.35

	 	“Quarterly Installment Method”
	 	 	5	 
	1.36

	 	“Retirement,” “Retire(s)” or “Retired”
	 	 	5	 
	1.37

	 	“Retirement Benefits”
	 	 	5	 
	1.38

	 	“Separation from Service”
	 	 	5	 
	1.39

	 	“Disability Leave”
	 	 	7	 

i

 

	 	 	 	 	 	 	 
	 	 	 	 	Page
	1.40

	 	“Termination Benefits”
	 	 	7	 
	1.41

	 	“Termination of Employment”
	 	 	7	 
	1.42

	 	“Trust”
	 	 	7	 
	1.43

	 	“Unforeseeable Financial Emergency”
	 	 	7	 
	1.44

	 	“Years of Service”
	 	 	7	 
	 
	 	 	 	 	 	 
	 

	 	ARTICLE 2.
 SELECTION, ENROLLMENT, ELIGIBILITY	 	 	 	 
	 
	 	 	 	 	 	 
	2.1

	 	Selection by Administrator
	 	 	8	 
	2.2

	 	Enrollment Requirements
	 	 	8	 
	2.3

	 	Eligibility Requirements; Commencement of Participation
	 	 	8	 
	2.4

	 	Termination of Participation
	 	 	8	 
	 
	 	 	 	 	 	 
	 

	 	 ARTICLE 3.
INITIAL ACCOUNT CREDITS/CREDITING/TAXES	 	 	 	 
	 
	 	 	 	 	 	 
	3.1

	 	Notional Earnings Accounts
	 	 	8	 
	3.2

	 	Vesting
	 	 	9	 
	3.3

	 	Earnings Credits or Losses
	 	 	9	 
	3.4

	 	Distributions
	 	 	10	 
	 
	 	 	 	 	 	 
	 

	 	ARTICLE 4.
FIXED DATE PAYOUTS	 	 	 	 
	 
	 	 	 	 	 	 
	4.1

	 	Fixed Date Payout
	 	 	10	 
	4.2

	 	Redeferral
	 	 	10	 
	4.3

	 	Other Benefits Take Precedence Over Fixed Date
	 	 	10	 
	 
	 	 	 	 	 	 
	 

	 	ARTICLE 5.
DISTRIBUTIONS	 	 	 	 
	 
	 	 	 	 	 	 
	5.1

	 	Retirement Benefit
	 	 	11	 
	5.2

	 	Pre-Retirement Survivor Benefit
	 	 	11	 
	5.3

	 	Termination Benefit
	 	 	11	 
	5.4

	 	Change in Control Benefit
	 	 	12	 
	5.5

	 	Disability Benefit
	 	 	12	 
	5.6

	 	Delayed Distributions for Employee Participants
	 	 	12	 
	5.7

	 	Cash Distributions
	 	 	12	 
	 
	 	 	 	 	 	 
	 

	 	 ARTICLE 6.
UNFORESEEABLE FINANCIAL EMERGENCIES	 	 	 	 
	 
	 	 	 	 	 	 
	6.1

	 	Withdrawal Payout for Unforeseeable Financial Emergencies
	 	 	12	 

ii

 

	 	 	 	 	 	 	 
	 	 	 	 	Page
	 

	 	ARTICLE 7.
 BENEFICIARY DESIGNATION	 	 	 	 
	 
	 	 	 	 	 	 
	7.1

	 	Beneficiary
	 	 	13	 
	7.2

	 	Beneficiary Designation; Change; Spousal Consent
	 	 	13	 
	7.3

	 	Acknowledgment
	 	 	13	 
	7.4

	 	No Beneficiary Designation
	 	 	13	 
	7.5

	 	Doubt as to Beneficiary
	 	 	13	 
	7.6

	 	Discharge of Obligations
	 	 	13	 
	 
	 	 	 	 	 	 
	 

	 	ARTICLE 8.
TERMINATION, AMENDMENT OR MODIFICATION	 	 	 	 
	 
	 	 	 	 	 	 
	8.1

	 	Termination With Respect to Account Balances
	 	 	14	 
	8.2

	 	Amendment
	 	 	14	 
	8.3

	 	Effect of Payment
	 	 	14	 
	 
	 	 	 	 	 	 
	 

	 	ARTICLE 9.
ADMINISTRATION	 	 	 	 
	 
	 	 	 	 	 	 
	9.1

	 	Administrator Duties
	 	 	14	 
	9.2

	 	Binding Effect of Decisions
	 	 	15	 
	9.3

	 	Committee
	 	 	15	 
	9.4

	 	Indemnification
	 	 	15	 
	9.5

	 	Employer Information
	 	 	15	 
	 
	 	 	 	 	 	 
	 

	 	ARTICLE 10.
CLAIMS PROCEDURES	 	 	 	 
	 
	 	 	 	 	 	 
	10.1

	 	Presentation of Claim
	 	 	15	 
	10.2

	 	Notification of Decision
	 	 	16	 
	10.3

	 	Review of a Denied Claim
	 	 	16	 
	10.4

	 	Decision on Review
	 	 	17	 
	10.5

	 	Designation
	 	 	17	 
	10.6

	 	Arbitration
	 	 	17	 
	 
	 	 	 	 	 	 
	 

	 	ARTICLE 11.
TRUST	 	 	 	 
	 
	 	 	 	 	 	 
	11.1

	 	Establishment of the Trust
	 	 	17	 
	11.2

	 	Interrelationship of the Plan and the Trust
	 	 	18	 
	11.3

	 	Investment of Trust Assets
	 	 	18	 
	11.4

	 	Distributions From the Trust
	 	 	18	 
	 
	 	 	 	 	 	 
	 

	 	ARTICLE 12.
MISCELLANEOUS	 	 	 	 
	 
	 	 	 	 	 	 
	12.1

	 	Status of Plan
	 	 	18	 

iii

 

	 	 	 	 	 	 	 
	 	 	 	 	Page
	12.2

	 	Unsecured General Creditor
	 	 	18	 
	12.3

	 	Employer’s Liability
	 	 	18	 
	12.4

	 	Non-Assignability
	 	 	18	 
	12.5

	 	Tax Withholding
	 	 	19	 
	12.6

	 	Coordination with Other Benefits
	 	 	19	 
	12.7

	 	Compliance
	 	 	19	 
	12.8

	 	Not a Contract of Employment
	 	 	19	 
	12.9

	 	Furnishing Information
	 	 	19	 
	12.10

	 	Governing Law
	 	 	19	 
	12.11

	 	Notice
	 	 	19	 
	12.12

	 	Successors
	 	 	20	 
	12.13

	 	Spouse’s Interest
	 	 	20	 
	12.14

	 	Validity
	 	 	20	 
	12.15

	 	Incompetent
	 	 	20	 
	12.16

	 	Court Order
	 	 	20	 
	12.17

	 	Accelerated Distributions, Trust Distributions and Plan Interpretation
	 	 	20	 
	12.18

	 	Insurance
	 	 	21	 
	12.19

	 	Status of Company as a REIT
	 	 	21	 

iv

 

THE AMB PROPERTY CORPORATION 2011

NOTIONAL ACCOUNT DEFERRED COMPENSATION PLAN

Purpose

     AMB Property Corporation, a Maryland corporation (the “Company”), hereby establishes
the AMB Property Corporation 2011 Notional Account Deferred Compensation Plan (the “Plan”)
effective as of June 2, 2011. This plan is intended to comply with the provisions of and the
Department of Treasury proposed and final rules, regulations and other guidance promulgated under
Section 409A of the Code and not result in a penalty tax thereunder. This Plan shall be unfunded
for tax purposes and for purposes of Title I of ERISA.

     This Plan is for the benefit of a select group of management and highly compensated employees
of the Employers as described in Sections 201(2), 301(a)(3) and 401(a)(1) of ERISA.

ARTICLE 1.

DEFINITIONS

     As used within this document, the following words and phrases have the meanings described in
this Article 1 unless a different meaning is required by the context. Some of the words and
phrases used in the Plan are not defined in this Article 1, but for convenience, are defined as
they are introduced into the text. Words in the masculine gender shall be deemed to include the
feminine gender. Any headings used are included for ease of reference only and are not to be
construed so as to alter any of the terms of the Plan.

     1.1 “Account Balance” shall mean, with respect to a Participant, a credit on the records of the Employer equal to
the excess, if any, of the balance of a Participant’s Notional Earnings Account over the Initial
Account Credit of such Notional Earnings Account at the time of determination. The Account
Balance, and each other specified account balance, shall be a bookkeeping entry only and shall be
utilized solely as a device for the measurement and determination of the amounts to be paid to a
Participant, or his or her designated Beneficiary, pursuant to this Plan.

     1.2 “Administrator” shall mean the Committee appointed pursuant to Article 9 to administer the Plan, or such other
person or persons to whom the Committee has delegated its duties pursuant to Article 9.

     1.3 “Annual Installment Method” shall be an annual installment payment over the number of years selected by the Participant in
accordance with this Plan, calculated as follows: The Account Balance of the Participant shall be
calculated as of the close of business three (3) business days prior to the last business day of
the fourth quarter preceding the distribution. The annual installment shall be calculated by
multiplying this balance by a fraction, the numerator of which is one, and the denominator of
which is the remaining number of yearly payments due the Participant. By way of example, if the
Participant elects a ten year Annual Installment Method, the first payment shall be 1/10 of the
Account Balance, calculated as described in this definition.

 

 

The following year, the payment shall
be 1/9 of the Account Balance, calculated as described in this definition.

     1.4 “Beneficiary” shall mean one or more persons, trusts, estates or other entities, designated in accordance
with Article 7, that are entitled to receive benefits under this Plan upon the death of a
Participant.

     1.5 “Beneficiary Designation Form” shall mean the form established from time to time by the Administrator that a Participant
completes, signs and returns to the Administrator to designate one or more Beneficiaries.

     1.6 “Board” shall mean the board of directors of the Company.

     1.7 “Change in Control” shall mean any of the following events:

          (a) the complete liquidation of the Company or the sale or disposition by the Company of all
or substantially all of the Company’s assets, or the disposition by the Company of more than fifty
percent (50%) of its interest in the Partnership;

          (b) any Person (as defined below) is or becomes the Beneficial Owner (as defined below),
directly or indirectly, of securities of the Company representing fifty percent (50%) or more of
the combined voting power of the Company’s then outstanding securities. For purposes of this
definition, (i) the term “Person” is used as such term is used in Sections 13(d) and 14(d)
of the Exchange Act; provided, however, that the term shall not include the Company, any trustee or
other fiduciary holding securities under an employee benefit plan of the Company, and any
corporation owned, directly or indirectly, by the shareholders of the Company, in substantially the
same proportions as their ownership of stock of the Company, and (ii) the term “Beneficial
Owner” shall have the meaning given to such term in Rule 13d-3 under the Exchange Act;

          (c) during any period of twelve (12) consecutive months, individuals who at the beginning of
such period constitute the Board, and any new director (other than a director designated by a
person who has entered into an agreement with the Company to effect a transaction described in
clauses (a), (b) or (d)) whose election by the Board or nomination for election by the Company’s
shareholders was approved by a vote of at least two-thirds (2/3) of the directors then still in
office who either were directors at the beginning of the period or whose election or nomination for
election was previously so approved, cease for any reason to constitute at least a majority
thereof; or

          (d) the consummation of a merger or consolidation of the Company with any other corporation
(or other entity); provided, that, a Change in Control shall not be deemed to occur (i) as the
result of a merger or consolidation which would result in the voting securities of the Company
outstanding immediately prior thereto continuing to represent (either by remaining outstanding or
by being converted into voting securities of the surviving entity) more than fifty percent (50%) of
the combined voting power of the voting securities of the Company or such surviving entity
outstanding immediately after such merger or consolidation or (ii) where more than fifty percent
(50%) of the directors of the Company or the surviving entity after such merger

2

 

or consolidation
were directors of the Company immediately before such merger or consolidation.

     Notwithstanding the foregoing, (1) a Change in Control shall be limited to such transactions
as constitute a change in the ownership or effective control of the Company or in the ownership of
a substantial portion of the assets of the Company within the meaning of Section 409A(a)(2)(A)(v)
of the Code and the proposed and final Department of Treasury rules, regulations and other guidance
promulgated thereunder and (2) the consummation of the transactions contemplated under the Merger
Agreement shall not constitute a Change in Control.

     1.8 “Change in Control Benefits” shall mean the benefits set forth in Section 5.4.

     1.9 “Claimant” shall have the meaning set forth in Section 10.1.

     1.10 “Code” shall mean the Internal Revenue Code of 1986, as it may be amended from time to time.

     1.11 “Committee” shall mean the Compensation Committee of the Board or another committee or subcommittee of the
Board appointed to administer the Plan pursuant to Article 9.

     1.12 “Company” shall mean AMB Property Corporation, a Maryland corporation, and any successor to all or
substantially all of the Company’s assets or business.

     1.13 “Deduction Limitation” shall mean the following described limitation on a benefit that may otherwise be distributable
pursuant to the provisions of this Plan. Except as otherwise provided, this limitation shall be
applied to all distributions that are “subject to the Deduction Limitation” under this Plan. If an
Employer determines in good faith that there is a reasonable likelihood that any compensation paid
to a Participant prior to a Change in Control for a taxable year of the Employer (including a
distribution which otherwise would be made pursuant to this Plan) would not be deductible by
the Employer solely by reason of the limitation under Code Section 162(m), then to the extent
deemed necessary by the Employer to ensure that the entire amount of any distribution to the
Participant pursuant to this Plan prior to the Change in Control is deductible, the Employer shall
defer all or any portion of a distribution under this Plan. Any amounts deferred pursuant to this
limitation shall continue to be credited/debited with additional amounts in accordance with
Section 3.3 below, even if such amount is being paid out in installments. The amounts so
deferred and amounts credited thereon shall be distributed to the Participant or his or her
Beneficiary (in the event of the Participant’s death) at the earliest possible date, as determined
by the Employer in good faith, on which the deductibility of compensation paid or payable to the
Participant for the taxable year of the Employer during which the distribution is made (including
such Plan distribution) will not be limited by Section 162(m). Notwithstanding anything to the
contrary in this Plan, the Deduction Limitation shall not apply to any distributions made after a
Change in Control.

     1.14 “Director” shall mean any member of the board of directors of the Company.

     1.15 “Disability” shall mean that a Participant (a) is unable to engage in any substantial gainful activity by
reason of any medically determinable physical or mental impairment that can be expected to result
in death or can be expected to last for a continuous period of not less than

3

 

twelve (12) months, or
(b) is, by reason of any medically undeterminable physical or mental impairment that can be
expected to result in death or can be expected to result in death or can be expected to last for a
continuous period of not less than twelve (12) months, receiving income replacement benefits for a
period of not less than three (3) months under an accident or health plan covering employees of
such Participant’s Employer, or (c) is determined to be totally disabled by the Social Security
Administration. The existence of a Disability under clause (a) and (b) shall be determined by the
Administrator on the advice of a physician chosen by the Administrator.

     1.16 “Disability Benefits” shall mean the benefits set forth in Section 5.5.

     1.17 “Election Form” shall mean the form established from time to time by the Administrator that a Participant
completes, signs and returns to the Administrator to make an election under the Plan.

     1.18 “Employee” shall mean a person who is an officer and employee of any Employer.

     1.19 “Employer(s)” shall initially mean the Company, but shall also include any of the Company’s subsidiaries
(now in existence or hereafter formed or acquired) that have been selected by the Board to
participate in the Plan and have adopted the Plan as a sponsor.

     1.20 “ERISA” shall mean the Employee Retirement Income Security Act of 1974, as it may be amended from time
to time.

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

     1.22 “First Plan Year” shall mean the period beginning June 2, 2011 and ending December 31, 2011.

     1.23 “Fixed Date Payout” shall mean the payout set forth in Section 4.1.

     1.24 “Initial Account Credit” shall mean the notational cash credited to a Participant’s Notional Earnings Account
immediately following the consummation of the Merger. In no event shall a Participant have any
right to receive a distribution of his or her Initial Account Credit.

     1.25 “Measurement Fund” shall mean the investment fund or funds selected by the Administrator from time to time
pursuant to Section 3.3(c).

     1.26 “Merger” shall mean the transactions contemplated under the Merger Agreement.

     1.27 “Merger Agreement” shall mean that certain Agreement and Plan of Merger, dated as of January 30, 2011 by and
among the Company, the Partnership, ProLogis, a Maryland real estate investment trust, New Pumpkin
Inc. a Maryland corporation, Upper Pumpkin LLC, a Delaware limited liability company and Pumpkin
LLC, a Delaware limited liability company.

     1.28 “Non-Employee Director” shall mean a Director who is not an Employee of any Employer.

4

 

     1.29 “Notional Earnings Account” shall mean, as to each Participant, the bookkeeping account established for each Participant
pursuant to Section 3.1.

     1.30 “Participant” shall mean an Employee designated to participate in the Plan by the Administrator as set forth
on Exhibit A hereto and who (i) signs an Election Form and a Beneficiary Designation Form, (ii)
whose signed Election Form and Beneficiary Designation Form are accepted by the Administrator, and
(iii) who commences participation in the Plan. A spouse or former spouse of a Participant shall not
be treated as a Participant in the Plan or have an account balance under the Plan, even if he or
she has an interest in the Participant’s benefits under the Plan as a result of applicable law or
property settlements resulting from legal separation or divorce.

     1.31 “Partnership” shall mean AMB Property, L.P., a Delaware limited partnership, and any successor to all or
substantially all of the Partnership’s assets or business.

     1.32 “Plan” shall mean this AMB Property Corporation 2011 Notional Account Deferred Compensation Plan,
which shall be evidenced by this instrument, as amended from time to time.

     1.33 “Plan Year” shall mean, after the First Plan Year, a period beginning on January 1 of each calendar year
and continuing through December 31 of such calendar year.

     1.34 “Pre-Retirement Survivor Benefits” shall mean the benefits set forth in Section 5.2.

     1.35 “Quarterly Installment Method” shall be a quarterly installment payment over the number of quarters selected by the
Participant in accordance with this Plan, calculated as follows: The Account Balance of the
Participant shall be calculated as of the close of business three (3) business days prior to the
last business day of the quarter preceding the distribution. The quarterly installment shall be
calculated by multiplying this balance by a fraction, the numerator of which is one, and the
denominator of which is the remaining number of quarterly payments due the Participant. By way of
example, if the Participant elects a twenty (20) quarter Quarterly Installment Method, the first
payment shall be 1/20 of the Account Balance, calculated as described in this definition. The
following quarter, the payment shall be 1/19 of the Account Balance, calculated as described in
this definition.

     1.36 “Retirement,” “Retire(s)” or “Retired” shall mean a Termination of Employment from the Company and all Employers for any reason on or
after the earlier of the attainment of (a) age sixty-five (65) or (b) a combined age and Years of
Service equaling at least fifty-five (55) with a minimum of ten (10) Years of Service.

     1.37 “Retirement Benefits” shall mean the benefits set forth in Section 5.1.

     1.38 “Separation from Service” shall mean, a Participant’s separation from service with the Company, Partnership and any
Employer as a result of the Participant’s death, Disability, Retirement or other event of
termination in which the facts and circumstances indicate that the Employer and Participant
reasonably anticipated either that no further services would be performed after a certain date or
that the level of bona fide services the Participant would

5

 

perform after such date would
permanently decrease to no more than twenty percent (20%) of the average level of bona fide
services performed over the immediately preceding 36-month period (or the full period in which the
Participant provided services to the Employer if the Participant has been providing services for
less than thirty-six (36) months), as determined by the Administrator in its sole discretion.

          (a) Facts and circumstances which may be considered in determining whether a Separation of
Service occurred, include, without limitation, whether the Participant continues to be treated as
an employee for other purposes (such as continuation of salary and participation in employee
benefit programs), whether similarly situated service providers have been treated consistently, and
whether the Participant is eligible to perform services for, and realistically available to perform
services for, other employers in the same line of business.

          (b) In addition, a Separation from Service shall be presumed to occur in the following
instances:

          (i) if a Participant’s period of leave exceeds six (6) months and the
Participant’s right to reemployment or service is not provided either by statute or
contract, then the Participant is deemed to have experienced a Separation from
Service on the first day immediately following such six-month period;

          (ii) if a Participant continues to provide services to an Employer, the facts
and circumstances indicate that the Employer did not intend the Participant to
provide more than insignificant services to the Employer; or

          (iii) the Participant ceases to provide services as an Employee at an annual
rate that is at least equal to twenty percent (20%) of the services rendered, on
average, during the immediately preceding three (3) full calendar years of
employment (or, if employed less than three (3) years, such lesser period).

          (c) Notwithstanding the foregoing, a Separation from Service shall be presumed not to occur in
the following instances:

          (i) the mere change in capacity in which the Participant renders service to the
Company, the Partnership or any other Employer from an Employee to Director or
vice-versa;

          (ii) the employment relationship is treated as continuing intact while the
Participant is on military leave, sick leave or other bona fide leave of absence
(such as temporary employment by the government) if the period of such leave does
not exceed six (6) months, or if longer, so long as the individual’s right to
reemployment or service with the Company or an Employer is provided by either
statute or contract; provided that with respect to a disability leave, the
employment relationship will be treated as continuing for a period of up to
twenty-nine (29) months, unless terminated earlier by the Participant or Employer,
regardless of whether the Participant retains a contractual right to reemployment;

6

 

     (iii) where an Employee continues to provide services to a prior Employer in a
capacity other than as an employee and such Employee is providing services at an
annual rate that is fifty percent (50%) or more of the services rendered, on
average, during the immediately preceding three (3) full calendar years of
employment (or if employed less than three (3) years, such lesser period).

     In determining whether a separation of service has occurred, periods during which the
Participant is on an unpaid bona fide leave of absence are disregarded (including for purposes of
determining the relevant 36-month period), and periods during which the Participant is on a paid
bona fide leave of absence are treated as periods during which the Participant provided services at
the level at which the Participant would have been required to perform services to receive the
compensation if not on a bona fide leave of absence. A leave of absence constitutes a bona fide
leave of absence only if there is a reasonable expectation that the Participant will return to
perform services for the Company or Employer.

     1.39 “Disability Leave” means leave due to the Participant’s inability to perform the duties of his or her position or
any substantially similar position by reason of any medically determinable physical or mental
impairment that can be expected to result in death or can be expected to last for a continuous
period of not less than six (6) months.

     1.40 “Termination Benefits” shall mean the benefit set forth in Section 5.3.

     1.41 “Termination of Employment” shall mean the severing of employment with all Employers, voluntarily or involuntarily, for
any reason other than Disability, death or an authorized leave of absence, which constitutes a
Separation from Service with respect to the Company and Employer, as determined by the
Administrator in its sole discretion.

     1.42 “Trust” shall mean one or more trusts established pursuant to that certain Trust Agreement, effective
as of June 2, 2011, between the Company and the trustee named therein, as amended from time to
time.

     1.43 “Unforeseeable Financial Emergency” shall mean an unanticipated emergency that is caused by an event beyond the control of the
Participant that would result in severe financial hardship to the Participant not covered by
insurance, liquidation of other assets (to the extent the liquidation itself will not cause severe
financial hardship, or cessation of deferrals under this Plan, resulting from (i) a sudden and
unexpected illness or accident of the Participant or a dependent (as defined in Section 152(a) of
the Code) of the Participant, (ii) a loss of the Participant’s property due to casualty, or (iii)
such other extraordinary and unforeseeable circumstances arising as a result of events beyond the
control of the Participant, all as determined in the sole discretion of the Administrator and which
constitutes an “unforeseeable emergency” within the meaning of Section 409A(a)(2)(B)(ii) of the
Code. For the avoidance of doubt, an Unforeseeable Financial Emergency shall not include, among
other things, sending a child to college or purchasing a home.

     1.44 “Years of Service” shall mean each twelve (12) month period during which a Participant is employed by an
Employer, whether or not continuous, and including periods

7

 

commencing prior to the effective date
of this Plan; provided, however, that in the case of a Participant whose employment with an
Employer has been interrupted by a period of twelve (12) consecutive months or more (a “Break
in Service”), his or her Years of Service prior to such Break in Service shall be disregarded
for any purpose under the Plan.

ARTICLE 2.

SELECTION, ENROLLMENT, ELIGIBILITY

     2.1 Selection by Administrator. Participation in the Plan shall be limited to a select group of management and highly
compensated Employees, constituting those persons who (i) were participants in the Company’s 2002
and/or 2005 Nonqualified Deferred Compensation Plans immediately prior to the Merger, (ii) received
a distribution from one or both of such plans on account of the Merger, (iii) were Employees of any
Employer or Non-Employee Directors immediately following the Merger and (iv) enroll in the Plan as
described in Section 2.2. The Participants shall be the individuals set forth on
Exhibit A hereto.

     2.2 Enrollment Requirements. As a condition to participation, each Participant shall complete, execute and return to the
Administrator an Election Form and a Beneficiary Designation Form. In addition, the Administrator
shall establish from time to time such other enrollment requirements as it determines in its sole
discretion are necessary.

     2.3 Eligibility Requirements; Commencement of Participation

        .

          (a) Eligibility; Commencement of Participation. Provided a Participant has met all
enrollment requirements set forth in this Plan and required by the Administrator, including
returning all required documents to the Administrator within the specified time period, that
Participant shall commence participation in the Plan on the day on which his or her Election Form
first becomes effective or the date on an Initial Account Credit is first credited to his or her
Notional Earnings Account .

     2.4 Termination of Participation. If the Administrator determines in good faith that a Participant no longer qualifies as a member
of a select group of management or highly compensated employees, as membership in such group is
determined in accordance with Sections 201(2), 301(a)(3) and 401(a)(1) of ERISA, the Administrator
shall have the right, in its sole discretion, to terminate the Participant’s participation in the
Plan.

ARTICLE 3.

INITIAL ACCOUNT CREDITS/CREDITING/TAXES

     3.1 Notional Earnings Accounts. Solely for record keeping purposes, the Administrator shall establish a an Notional Earnings
Account for each Participant. A Participant’s Notional Earnings Account shall be credited with the
Participant’s Initial Account Credit, and subsequently credited (or charged, as the case may be)
with the hypothetical or deemed investment earnings and losses determined pursuant to Section
3.3, and charged with distributions made to or with respect to him or her. The balance of a
Participant’s Notional Earnings Account at any time may be smaller or larger than the balance of
the Notional Earnings Account of any other Participant.

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     3.2 Vesting. A Participant shall at all times be one hundred percent (100%) vested in his or her Account
Balance.

     3.3 Earnings Credits or Losses. In accordance with, and subject to, the rules and procedures that are established from time to
time by the Administrator, in its sole discretion, amounts shall be credited or debited to a
Participant’s Notional Earnings Account in accordance with the following rules:

          (a) Election of Measurement Funds. A Participant shall elect, on the Election Form,
one or more Measurement Fund(s) (as described in Section 3.3(c) below) to be used to
determine the additional amounts to be credited to his or her Notional Earnings Account, unless
changed in accordance with the next sentence. The Participant may (but is not required to) elect,
by submitting an Election Form to the Administrator that is accepted by the Administrator, to
add or delete one or more Measurement Fund(s) to be used to determine the additional amounts
to be credited to his or her Notional Earnings Account, or to change the portion of his or her
Notional Earnings Account allocated to each previously or newly elected Measurement Fund. If an
election is made in accordance with the previous sentence, it shall become effective as soon as
administratively practicable and shall continue thereafter until changed in accordance with the
previous sentence. Changes may be made to allocations at any time during the Plan Year, up to a
maximum of six (6) changes per Participant per Plan Year.

          (b) Proportionate Allocation. In making any election described in Section
3.3(a) above, the Participant shall specify on the Election Form, in increments of whole
percentage points (1%), the percentage of his or her Notional Earnings Account and any earnings
thereon to be allocated to a Measurement Fund (as if the Participant was making an investment in
that Measurement Fund with that portion of his or her Notional Earnings Account).

          (c) Measurement Funds. The Administrator shall from time to time select types of
Measurement Funds and specific Measurement Funds for deemed investment designation by Participants
for the purpose of crediting additional amounts to his or her Notional Earnings Account. As
necessary, the Administrator may, in its sole discretion, discontinue, substitute or add a
Measurement Fund. The Administrator shall notify the Participants of the types of Measurement
Funds and the specific Measurement Funds selected from time to time.

          (d) Crediting or Debiting Method. The performance of each elected Measurement Fund
(either positive or negative) will be determined by the Administrator, in its sole discretion,
based on the performance of the Measurement Funds themselves. A Participant’s Notional Earnings
Account shall be credited or debited as frequently as is administratively feasible, but no less
often than quarterly, based on the performance of each Measurement Fund selected by the
Participant, as determined by the Administrator in its sole discretion.

          (e) No Actual Investment. Notwithstanding any other provision of this Plan that may be
interpreted to the contrary, the Measurement Funds are to be used for measurement purposes only,
and a Participant’s election of any such Measurement Fund, the allocation of his or her Notional
Earnings Account thereto, the calculation of additional amounts and the crediting or debiting of
such amounts to a Participant’s Notional Earnings Account shall not be considered or
construed in any manner as an actual investment of his or her Notional Earnings Account in

9

 

any such
Measurement Fund. In the event that the Company or the Trustee (as that term is defined in the
Trust), in its own discretion, decides to invest funds in any or all of the Measurement Funds, no
Participant shall have any rights in or to such investments themselves. Without limiting the
foregoing, a Participant’s Notional Earnings Account shall at all times be a bookkeeping entry only
and shall not represent any investment made on his or her behalf by the Employer or the Trust; the
Participant shall at all times remain an unsecured creditor of the Employers.

     3.4 Distributions. Any distribution with respect to a Participant’s Account Balance shall be charged to the
Participant’s Notional Earnings Account as of the date such payment is made by the Employer or the
trustee of the Trust which may be established for the Plan.

ARTICLE 4.

FIXED DATE PAYOUTS

     4.1 Fixed Date Payout. A Participant may irrevocably elect on his or her Election Form to receive a future “Fixed
Date Payout” from the Plan of his or her Account Balance. Subject to the Deduction Limitation
and the other terms and conditions of this Plan, each Fixed Date Payout elected shall be paid out
no earlier than the first day of any Plan Year designated by the Participant (the “Earliest
Fixed Date Payout Date”). A Participant who elects a Fixed Date Payout shall elect on his or
her Election Form to receive his or her Account Balance in a lump sum or pursuant to a Quarterly or
Annual Installment Method over a period of up to ten (10) years, payable in the first (1st) week of
January, April, July, and October, as applicable, commencing on the Earliest Fixed Date Payout
Date. If a Participant who elects a Fixed Date Payout does not elect to have his or her Account
Balance paid in accordance with the Quarterly or Annual Installment Method, then such benefit shall
be payable in a lump sum. The lump sum payment shall be made no later than sixty (60) days after
the last day of any Plan Year designated by the Participant that is after the Earliest Fixed Date
Payout Date. Any payment made shall be subject to the Deduction Limitation.

     4.2 Redeferral. A Participant may annually change his or her Fixed Date Payout (as defined in Section
4.1) election to a subsequent fixed date by submitting a new Election Form to the
Administrator, provided, however, that (a) such change (i) must occur at least twelve (12) months
prior to the originally elected fixed date, (ii) shall not be given any effect unless a full
calendar year would have passed between the date upon which such Election Form is submitted and the
originally elected fixed date and (iii) must provide for at least five full calendar years to pass
between the originally elected fixed date and the subsequent fixed date designated in such form
occurs and (b) the Election Form is accepted by the Administrator in its sole discretion. The
Election Form most recently accepted by the Administrator shall govern the payout of the
Participant’s benefits under the plan.

     4.3 Other Benefits Take Precedence Over Fixed Date. Should an event occur in respect of a Participant who has elected a Fixed Date Payout under
Section 4.1 that triggers a payment under Article 5 or 6, such Participant’s Account Balance shall
not be paid in accordance with Section 4.1 or Section 4.2, but shall be paid in accordance with the
other applicable Article.

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ARTICLE 5.

DISTRIBUTIONS

     5.1 Retirement Benefit.

          (a) Retirement Benefit. Subject to Section 5.6, a Participant who Retires,
shall receive, as a Retirement Benefit, his or her Account Balance. A Participant, in connection
with his or her commencement of participation in the Plan, shall elect on an Election Form to
receive the Retirement Benefit in a lump sum or pursuant to a Quarterly or Annual Installment
Method over a period of up to ten (10) years, payable in the first (1st) week of January, April,
July, and October, as applicable. If a Participant does not make any election with respect to the
payment of the Retirement Benefit, then such benefit shall be payable in a lump sum. The lump sum
payment shall be made, or installment payments shall commence, no later than the later of (i)
December 31 of the calendar year during which the Participant Retires or (ii) the fifteenth (15th)
day of the third (3rd) month following the date of such Retirement.

          (b) Death Prior to Completion of Retirement Benefit or Termination Benefit. Subject
to Section 5.6, if a Participant dies after Retirement but before the Retirement Benefit
due under this Section 5.1 is paid in full or after a Termination of Employment but before
the Termination Benefit under Section 5.3 is paid in full, the Participant’s unpaid
Retirement Benefit under this Section 5.1 or Termination Benefit under Section 5.3
shall be paid to the Participant’s Beneficiary in the same form, at the same times and in the same
amounts as such Retirement Benefit or Termination Benefit would have been paid to the Participant
had the Participant survived.

     5.2 Pre-Retirement Survivor Benefit. Subject to Section 5.6, a Participant’s Beneficiary shall receive a Pre-Retirement
Survivor Benefit equal to the Participant’s Account Balance if the Participant dies before he or
she experiences a Termination of Employment or suffers a Disability. The Pre-Retirement Survivor
Benefit shall be paid to the Participant’s Beneficiary (a) if a Fixed Date Payout has not commenced
prior to Participant’s death, commencing no later than the later of (i) December 31 of the calendar
year during which the Participant died or (ii) the fifteenth (15th) day of the third (3rd) month
following the Participant’s death, and being paid in a lump sum, if so elected by Participant, or
in installment payments, if so elected by Participant, in the same form, at the same times and in
the same amounts as that benefit would have been paid to the Participant had the Participant
survived, and (b) if a Fixed Date Payout has commenced prior to Participant’s death, , in the same
form, at the same times and in the same amounts as that benefit would have been paid to the
Participant had the Participant survived.

     5.3 Termination Benefit. Subject to Section 5.6, a Participant shall receive a Termination Benefit, which shall
be equal to the Participant’s Account Balance if a Participant experiences a Termination of
Employment prior to his or her Retirement, death or Disability. A Participant’s Termination Benefit
shall be paid in a lump sum. The lump sum payment shall be made no later than the later of (i)
December 31 of the calendar year during which the Participant’s Termination of Employment occurred
or (ii) the fifteenth (15th) day of the third (3rd) month following the Participant’s Termination
of Employment.

11

 

     5.4 Change in Control Benefit. Subject to Section 5.6, a Participant shall receive a Change in Control Benefit, which
shall be equal to the Participant’s Account Balance at the time of a Change in Control. A
Participant’s
Change in Control Benefit due under this Section 5.4 shall be paid in a lump sum. The lump
sum payment shall be made upon, or as soon as administratively practicable following, the Change in
Control but in no event later than the later of (i) December 31 of the calendar year during which
the Change in Control occurs or (ii) the fifteenth (15th) day of third (3rd) month following the
date of such Change in Control.

     5.5 Disability Benefit. Subject to Section 5.6, the Participant shall receive a Disability Benefit, which shall
be equal to the Participant’s Account Balance in the event of the Participant’s Disability, as
determined by the Administrator. Payment of a Participant’s Disability Benefit under this
Section 5.5 shall be paid in a lump sum. If a Participant’s Disability occurs after
Retirement or after a Termination of Employment but before the Retirement Benefit under Section
5.1 or the Termination Benefit under Section 5.3 is paid in full, the Participant’s
unpaid Retirement Benefit under Section 5.1 or Termination Benefit under Section
5.3 shall continue and shall be paid to the Participant in the same form, at the same times and
in the same amounts as such Retirement Benefit or such Termination Benefit would have been paid to
the Participant had the Participant not incurred the Disability.

     5.6 Delayed Distributions for Employee Participants. Notwithstanding any provision of this Plan to the contrary, upon the Termination of Employment
or Retirement of a Participant who is an Employee for any reason other than death or Disability,
any Account Balance distribution that otherwise would be paid to Participant during the period of
time beginning with such Termination of Employment or Retirement and ending six (6) months
thereafter shall not be paid during such six-month period but shall be delayed and instead paid in
a lump sum as soon as administratively practicable following such six-month delay period. There
shall be no such six-month delay period in the event of and any six-month delay period which has
already commenced shall terminate immediately upon (i) the Participant’s death or Disability or
(ii) a Change in Control. For the avoidance of doubt, any Quarterly or Annual Installment Method
payments due to Participant after any such delay period shall not be accelerated by application of
this Section 5.6 and may only be accelerated to the extent such acceleration is provided
for in another Plan provision.

     5.7 Cash Distributions. All distributions to Participants under this Plan shall be in the form of cash.

ARTICLE 6.

UNFORESEEABLE FINANCIAL EMERGENCIES

     6.1 Withdrawal Payout for Unforeseeable Financial Emergencies. If a Participant experiences an Unforeseeable Financial Emergency,
the Participant may petition
the Administrator to receive a payout from the Plan. The payout shall not exceed the lesser of the
Participant’s Account Balance, calculated as if such Participant were receiving a Termination
Benefit under Section 5.3, or the amount reasonably needed to satisfy the Unforeseeable
Financial Emergency. If, subject to the sole discretion of the Administrator, the
petition for a payout is approved, any payout shall be made within sixty (60) days of the date of
approval but in no event shall any payout be made following the later of (a) December 31 of the
calendar year

12

 

during which the Unforeseeable Financial Emergency occurs and (b) the fifteenth
(15th) day of the third (3rd) month following the date of such Unforeseeable Financial Emergency.
The payment of any amount under this Section 6.1 shall not be subject to the Deduction
Limitation.

ARTICLE 7.

BENEFICIARY DESIGNATION

     7.1 Beneficiary. Each Participant shall have the right, at any time, to designate his or her Beneficiary(ies)
(both primary as well as contingent) to receive any benefits payable under the Plan to a
beneficiary upon the death of a Participant. The Beneficiary designated under this Plan may be the
same as or different from the Beneficiary designation under any other plan of an Employer in which
the Participant participates.

     7.2 Beneficiary Designation; Change; Spousal Consent. A Participant shall designate his or her Beneficiary by completing and signing the Beneficiary
Designation Form, and returning it to the Administrator or its designated agent. A Participant
shall have the right to change a Beneficiary by completing, signing and otherwise complying with
the terms of the Beneficiary Designation Form and the Administrator’s rules and procedures, as in
effect from time to time. Upon the acceptance by the Administrator of a new Beneficiary
Designation Form, all Beneficiary designations previously filed shall be canceled. The
Administrator shall be entitled to rely on the last Beneficiary Designation Form filed by the
Participant and accepted by the Administrator prior to his or her death.

     7.3 Acknowledgment. No designation or change in designation of a Beneficiary shall be effective until received and
acknowledged in writing by the Administrator or its designated agent.

     7.4 No Beneficiary Designation. If a Participant fails to designate a Beneficiary as provided in Sections 7.1,
7.2 and 7.3 above or, if all designated Beneficiaries predecease the Participant or
die prior to complete distribution of the Participant’s benefits, then the Participant’s designated
Beneficiary shall be deemed to be his or her surviving spouse. If the Participant has no surviving
spouse, the benefits remaining under the Plan to be paid to a Beneficiary shall be payable to the
executor or personal representative of the Participant’s estate.

     7.5 Doubt as to Beneficiary. If the Administrator has any doubt as to the proper Beneficiary to receive payments pursuant to
this Plan, the Administrator shall have the right, exercisable in its discretion, to cause the
Participant’s Employer to withhold such payments until this matter is resolved to the
Administrator’s satisfaction.

     7.6 Discharge of Obligations. The payment of benefits under the Plan to a Beneficiary shall fully and completely discharge all
Employers and the Administrator from all further obligations under this Plan with respect to the
Participant, and that Participant’s Election Form shall terminate upon such full payment of
benefits.

13

 

ARTICLE 8.

TERMINATION, AMENDMENT OR MODIFICATION

     8.1 Termination With Respect to Account Balances. The Plan shall not terminate with respect to Account Balances and any Employers, except in a
manner that complies with Section 409A of the Code and the proposed and final Department of
Treasury rules, regulations and other guidance promulgated thereunder. Upon a termination of the
Plan with respect to Account Balances that complies with Section 409A of the Code, each Participant
shall be entitled to receive his or her Account Balance in a lump sum payment as soon as
practicable following the first date such payment can be made without incurring tax penalties under
Section 409A of the Code but in no event following the last date such payment can be made without
incurring tax penalties under Section 409A of the Code. During the period of time between the date
the Plan is terminated with respect to Account Balances and the date of such payment, Account
Balance distributions, including those under a Quarterly or Annual Installment Method, which
otherwise would be made pursuant to the Plan shall be made without regard to such termination.

     8.2 Amendment. An Employer may, at any time, amend or modify the Plan in whole or in part with respect to that
Employer by the action of its board of directors, compensation committee of its board of directors
or similar governing body; provided, however, that no amendment or modification shall be effective
to decrease or restrict the value of a Participant’s Account Balance in existence at the time the
amendment or modification is made, calculated as if the Participant had experienced a Termination
of Employment as of the effective date of the amendment or modification or, if the amendment or
modification occurs after the date upon which the Participant was eligible to Retire, the
Participant had Retired as of the effective date of the amendment or modification. The amendment or
modification of the Plan shall not affect any Participant or Beneficiary who has become entitled to
the payment of benefits under the Plan as of the date of the amendment or modification.

     8.3 Effect of Payment. The full payment of the applicable benefit under Article 4 of the Plan or under Articles 5 and 6
of the Plan shall completely discharge all obligations to a Participant and his or her designated
Beneficiaries under this Plan and the Participant’s participation in the Plan shall terminate.

ARTICLE 9.

ADMINISTRATION

     9.1 Administrator Duties. The Committee appointed pursuant to Section 9.3 shall be the Administrator and shall conduct the
general administration of the Plan in accordance with the Plan and shall have all the necessary
power and authority to carry out that function. Members of the Administrator may be Participants
under this Plan. Any individual serving on the Administrator who is a Participant shall not vote
or act on any matter relating solely to himself or herself. Among the Committee’s necessary powers
and duties are the following:

          (a) Except to the extent provided otherwise by Article 11, to delegate all or part of its
function as Administrator to others and to revoke any such delegation.

14

 

          (b) To determine questions of eligibility of Participants and their entitlement to benefits,
subject to the provisions of Articles 9 and 11.

          (c) To select and engage attorneys, accountants, actuaries, trustees, appraisers, brokers,
consultants, administrators, physicians or other persons to render service or advice with regard to
any responsibility the Administrator has under the Plan, or otherwise, to designate such persons to
carry out fiduciary responsibilities (other than trustee responsibilities) under the Plan, and
(with the Committee, the Employers and their officers, directors, trustees and Employees) to rely
upon the advice, opinions or valuations of any such persons, to the extent permitted by law, being
fully protected in acting or relying thereon in good faith.

          (d) To interpret the Plan for purpose of the administration and application of the Plan, in a
manner not inconsistent with the Plan or applicable law and to amend or revoke any such
interpretation.

          (e) To conduct claims procedures as provided in Article 9.

     9.2 Binding Effect of Decisions. The decision or action of the Administrator with respect to any question arising out of or in
connection with the administration, interpretation and application of the Plan, Section 409A of the
Code and the proposed and final Department of Treasury rules, regulations and other guidance
promulgated thereunder shall be final and conclusive and binding upon all persons having any
interest in the Plan.

     9.3 Committee. The Committee shall consist solely of two or more Non-Employee Directors appointed by and
holding office at the pleasure of the Board. Appointment of Committee members shall be effective
upon acceptance of appointment. Committee members may resign at any time by delivering written
notice to the Board. Vacancies in the Committee may be filled by the Board.

     9.4 Indemnification. All Employers shall indemnify and hold harmless any of their officers, Directors, Committee
members or Employees who are involved in the administration of the Plan against any and all claims,
losses, damages, expenses or liabilities arising out of the good faith performance of their
administrative functions.

     9.5 Employer Information. To enable the Administrator to perform its functions, each Employer shall supply full and timely
information to the Administrator on all matters relating to the compensation of its Participants,
the date and circumstances of the Retirement, Disability, death or Termination of Employment of its
Participants, and such other pertinent information as the Administrator may reasonably require.

ARTICLE 10.

CLAIMS PROCEDURES

     10.1 Presentation of Claim. Any Participant or Beneficiary of a deceased Participant (such Participant or Beneficiary being
referred to below as a “Claimant”) may deliver to the Administrator a written claim for a
determination with respect to the amounts distributable to such Claimant from the Plan. If such a
claim relates to the contents of a notice received by the Claimant, the claim must be made within
sixty (60) days after such notice was received by the

15

 

Claimant. All other claims must be made
within one hundred eighty (180) days of the date on which the event that caused the claim to arise
occurred. The claim must state with particularity the determination desired by the Claimant.

     10.2 Notification of Decision. The Administrator shall consider a Claimant’s claim within a reasonable time, and shall notify
the Claimant in writing:

          (a) that the Claimant’s requested determination has been made, and that the claim has been
allowed in full; or

          (b) that the Administrator has reached a conclusion contrary, in whole or in part, to the
Claimant’s requested determination, and such notice must set forth in a manner calculated to be
understood by the Claimant:

          (i) the specific reason(s) for the denial of the claim, or any part of it;

          (ii) specific reference(s) to pertinent provisions of the Plan upon which such
denial was based;

          (iii) a description of any additional material or information necessary for the
Claimant to perfect the claim, and an explanation of why such material or
information is necessary; and

          (iv) appropriate information as to the steps to be taken if the Claimant wishes
to submit his or her claim for review pursuant to the claim review procedure set
forth in Section 10.3 below, including the time limits applicable to such
procedures, and a statement of the Claimant’s right to bring a civil action under
Section 502(a) of ERISA following an adverse decision upon review.

     Any notice pursuant to this Section 10.2 shall be given within a reasonable period of
time but no later than ninety (90) days after the claim is filed, unless special circumstances
require an extension of time for processing the claim. If such extension is required, written
notice shall be furnished to the Claimant within ninety (90) days of the date the claim was filed
stating the special circumstances requiring an extension of time and the date by which a decision
on the claim can be expected, which shall be no more than one hundred eighty (180) days from the
date the claim was filed.

     10.3 Review of a Denied Claim. Within sixty (60) days after receiving a notice from the Administrator that a claim has been
denied, in whole or in part, a Claimant (or the Claimant’s duly authorized representative) may file
with the Administrator a written request for a review of the denial of the claim specifying in
detail each of Claimant’s contentions, the grounds on which each is based, all facts in support of
the request, and any other matters which the Claimant deems pertinent. The Claimant (or the
Claimant’s duly authorized representative):

          (a) may review and/or copy free of charge pertinent documents, records and other information
relevant to the Claimant’s claim;

16

 

          (b) may submit issues, written comments or other documents, records or other information
relating to the claim; and/or

          (c) may request a hearing, which the Administrator, in its sole discretion, may grant.

     Any such review by the Administrator shall take into account all comments, documents, records
and other information submitted by the Claimant relating to the claim, without regard to whether
such information was submitted or considered in the initial claim determination.

     10.4 Decision on Review. The Administrator shall render its decision on review promptly, and not later than sixty (60)
days after the filing of a written request for review of the denial, unless a hearing is held or
other special circumstances require additional time, in which case the Administrator’s decision
must be rendered within one hundred twenty (120) days after such date. Such decision must be
written in a manner calculated to be understood by the Claimant, and it must contain:

          (a) specific reasons for the decision;

          (b) specific reference(s) to the pertinent Plan provisions upon which the decision was based;
and

          (c) a statement that the Claimant is entitled to receive upon request and free of charge
reasonable access to and copies of all documents, records and other information relevant to the
Claimant’s claim for benefits;

          (d) a statement of the Claimant’s right to bring an action under Section 502(a) of ERISA; and

          (e) such other matters as the Administrator deems relevant.

     10.5 Designation. The Administrator may designate any other person of its choosing to make any determination
otherwise required under this Article.

     10.6 Arbitration. A Claimant whose appeal has been denied under Section 10.4 shall have the right to
submit said claim to final and binding arbitration in the state of California pursuant to the rules
of the American Arbitration Association. Any such requests for arbitration must be filed by written
demand to the American Arbitration Association within sixty (60) days after receipt of the decision
regarding the appeal. The costs and expenses of arbitration, including the fees of the arbitrators,
shall be borne by the losing party. The prevailing party shall recover as expenses all reasonable
attorney’s fees incurred by it in connection with the arbitration proceeding or any appeals
therefrom.

ARTICLE 11.

TRUST

     11.1 Establishment of the Trust. The Company and the Partnership shall establish the Trust, and each Employer shall at least
annually transfer over to the Trust such assets as the

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Employer determines, in its sole discretion, are necessary to provide, on a present value
basis, for its respective future liabilities created with respect to the Account Balances for such
Employer’s Participants for all periods prior to the transfer, as well as any debits and credits to
the Participants’ Account Balances for all periods prior to the transfer, taking into consideration
the value of the assets in the trust at the time of the transfer.

     11.2 Interrelationship of the Plan and the Trust. The provisions of the Plan shall govern the rights of a Participant to receive distributions
pursuant to the Plan. The provisions of the Trust shall govern the rights of the Employers,
Participants and the creditors of the Employers to the assets transferred to the Trust. Each
Employer shall at all times remain liable to carry out its obligations under the Plan.

     11.3 Investment of Trust Assets. The Trustee of the Trust shall be authorized, upon written instructions received from the
Administrator or investment manager appointed by the Administrator, to invest and reinvest the
assets of the Trust in accordance with the applicable Trust Agreement.

     11.4 Distributions From the Trust. Each Employer’s obligations under the Plan may be satisfied with Trust assets distributed
pursuant to the terms of the Trust, and any such distribution shall reduce the Employer’s
obligations under this Plan.

ARTICLE
12.

MISCELLANEOUS

     12.1 Status of Plan. The Plan is intended to be a plan that is not qualified within the meaning of Code Section
401(a) and that “is unfunded and is maintained by an employer primarily for the purpose of
providing deferred compensation for a select group of management or highly compensated employees”
within the meaning of ERISA Sections 201(2), 301(a)(3) and 401(a)(1). The Plan shall be
administered and interpreted to the extent possible in a manner consistent with that intent.

     12.2 Unsecured General Creditor. Participants and their Beneficiaries, heirs, successors and assigns shall have no legal or
equitable rights, interests or claims in any property or assets of any Employer. For purposes of
the payment of benefits under this Plan, any and all of an Employer’s assets shall be, and remain,
the general, unpledged unrestricted assets of the Employer. An Employer’s obligation under the Plan
shall be merely that of an unfunded and unsecured, promise to pay money in the future.

     12.3 Employer’s Liability. An Employer’s liability for the payment of benefits shall be defined only by the Plan and the
Election Form(s), as entered into between the Employer and a Participant. An Employer shall have no
obligation to a Participant under the Plan except as expressly provided in the Plan and his or her
Election Form(s).

     12.4 Non-Assignability. Neither a Participant nor any other person shall have any right to commute, sell, assign,
transfer, pledge, anticipate, mortgage or otherwise encumber, transfer, hypothecate, alienate or
convey in advance of actual receipt, the amounts, if any, payable hereunder, or any part thereof,
which are, and all rights to which are expressly declared to be, unassignable and non-transferable.
No part of the amounts payable shall, prior to actual

18

 

payment, be subject to seizure, attachment,
garnishment or sequestration for the payment of any debts, judgments, alimony or separate
maintenance owed by a Participant or any other person, be transferable by operation of law in the
event of a Participant’s or any other person’s bankruptcy or insolvency or be transferable to a
spouse as a result of a property settlement or otherwise.

     12.5 Tax Withholding.

     (a) Distributions. The Participant’s Employer(s), or the trustee of the Trust, shall
withhold from any payments or credits made to or on behalf of a Participant under this Plan all
federal, state and local income, employment and other taxes required to be withheld by the
Employer(s), or the trustee of the Trust, in connection with such payments, in amounts and in a
manner to be determined in the sole discretion of the Employer(s) and the trustee of the Trust.

     12.6 Coordination with Other Benefits. The benefits provided for a Participant and Participant’s Beneficiary under the Plan are in
addition to any other benefits available to such Participant under any other plan or program for
employees of the Participant’s Employer. The Plan shall supplement and shall not supersede, modify
or amend any other such plan or program except as may otherwise be expressly provided.

     12.7 Compliance. A Participant shall have no right to receive payment with respect to the Participant’s Account
Balance until all legal and contractual obligations of the Employers relating to establishment of
the Plan and the making of such payments shall have been complied with in full.

     12.8 Not a Contract of Employment. The terms and conditions of this Plan shall not be deemed to constitute a contract of employment
between any Employer and the Participant. Such employment is hereby acknowledged to be an “at will”
employment relationship that can be terminated at any time for any reason, or no reason, with or
without cause, and with or without notice, unless expressly provided in a written employment
agreement. Nothing in this Plan shall be deemed to give a
Participant the right to be retained in the employment of any Employer, or to interfere with the
right of any Employer to discipline or discharge the Participant at any time.

     12.9 Furnishing Information. A Participant or his or her Beneficiary will cooperate with the Administrator by furnishing any
and all information requested by the Administrator and take such other actions as may be requested
in order to facilitate the administration of the Plan and the payments of benefits hereunder,
including but not limited to taking such physical examinations as the Administrator may deem
necessary.

     12.10 Governing Law. Subject to ERISA, the provisions of this Plan shall be construed and interpreted according to
the internal laws of the State of California without regard to its conflicts of laws principles.

     12.11 Notice. Any notice or filing required or permitted to be given to the Administrator under this Plan
shall be sufficient if in writing and hand-delivered, or sent by registered or certified mail, to
the address below:

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Senior Vice President, Human Resources

AMB Property Corporation

Pier 1, Bay 1

San Francisco, California 94111

     Such notice shall be deemed given as of the date of delivery or, if delivery is made by mail,
as of the date shown on the postmark on the receipt for registration or certification.

     Any notice or filing required or permitted to be given to a Participant under this Plan shall
be sufficient if in writing and hand-delivered, or sent by mail, to the last address of the
Participant known to the Company or the Partnership.

     12.12 Successors. The provisions of this Plan shall bind and inure to the benefit of the Participant’s Employer
and its successors and assigns and the Participant and the Participant’s designated Beneficiaries.

     12.13 Spouse’s Interest. The interest in the benefits hereunder of a spouse of a Participant who has predeceased the
Participant shall automatically pass to the Participant and shall not be transferable by such
spouse in any manner, including but not limited to such spouse’s will, nor shall such interest pass
under the laws of intestate succession.

     12.14 Validity. In case any provision of this Plan shall be illegal or invalid for any reason, said illegality
or invalidity shall not affect the remaining parts hereof, but this Plan shall be construed and
enforced as if such illegal or invalid provision had never been inserted herein.

     12.15 Incompetent. If the Administrator determines in its discretion that a benefit under this Plan is to be paid
to a minor, a person declared incompetent or to a person incapable of handling the disposition of
that person’s property, the Administrator may direct payment of such benefit to the guardian, legal
representative or person having the care and custody of such minor, incompetent or incapable
person. The Administrator may require proof of minority, incompetence, incapacity or guardianship,
as it may deem appropriate prior to distribution of the benefit. Any payment of a benefit shall be
a payment for the account of the Participant and the Participant’s Beneficiary, as the case may be,
and shall be a complete discharge of any liability under the Plan for such payment amount.

     12.16 Court Order. The Administrator is authorized to make any payments directed by court order in any action in
which the Plan or the Administrator has been named as a party. In addition, if a court determines
that a spouse or former spouse of a Participant has an interest in the Participant’s benefits under
the Plan in connection with a property settlement or otherwise, the Administrator, in its sole
discretion, shall have the right, notwithstanding any election made by a Participant, to
immediately distribute the spouse’s or former spouse’s interest in the Participant’s benefits under
the Plan to that spouse or former spouse.

     12.17 Accelerated Distributions, Trust Distributions and Plan Interpretation.

          (a) Accelerated Distributions. If, for any reason, all or any portion of a
Participant’s benefits under this Plan becomes subject to a penalty tax amount under Section 409A
and the final Department of Treasury rules, regulations and other guidance promulgated

20

 

thereunder,
the Administrator may rescind the election subject to such penalty tax and accelerate the payment
of such benefits at its discretion, provided that any such distribution will remain subject to
penalty tax to the extent required by Section 409A and the final rules and regulations.

          (b) Trust Distributions. If the Trust terminates in accordance with the provisions of
the Trust and benefits are distributed from the Trust to a Participant in accordance with such
provisions, the Participant’s benefits under this Plan shall be reduced to the extent of such
distributions.

          (c) Plan Interpretation. The Plan shall be interpreted, construed, administered and
operated in good faith in a manner that satisfies the requirements of Section 409A of the Code and
the final and proposed Department of Treasury rules, regulations and other guidance promulgated
thereunder. Nothing in this Plan shall be construed as an entitlement to or guarantee of any
particular tax treatment to a Participant.

          12.18 Insurance. The Employers, on their own behalf or on behalf of the trustee of the Trust, and, in their sole
discretion, may apply for and procure insurance on the life of the Participant, in such amounts and
in such forms as the Trust may choose. The Employers or the trustee of the Trust, as the case may
be, shall be the sole owner and beneficiary of any such insurance. The Participant shall have no
interest whatsoever in any such policy or policies, and at the request of the Employers shall
submit to medical examinations and supply such information and execute such documents as may be
required by the insurance company or companies to whom the Employers have applied for insurance.

          12.19 Status of Company as a REIT. Notwithstanding any provision of this Plan or any Participant’s election to the contrary, the
Partnership, the Company and the Administrator shall have the right at any time, and from time to
time, to amend this Plan or to take any other action which it or they deem to be necessary or
appropriate in order to avoid or cure any impairment of the Company’s status as a real estate
investment trust under Sections 856 et seq. of the Code or to avoid or cure any violation of the
Company’s Articles of Incorporation.

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     IN WITNESS WHEREOF, the Company and the Partnership have signed this Plan document as of June
2, 2011.

	 	 	 	 	 
	 	AMB PROPERTY CORPORATION

 	 
	 	/s/ Nancy J. Hemmenway
 	 
	 	Nancy J. Hemmenway 	 
	 	Senior Vice President, Human Resources 	 
	 
	 	AMB PROPERTY, L.P.

 	 
	 	/s/ Nancy J. Hemmenway
 	 
	 	Nancy J. Hemmenway 	 
	 	Senior Vice President, Human Resources 	 
	 

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