Document:

Exhibit

Exhibit 10.3        

FORM OF
ASGN INCORPORATED 
2010 INCENTIVE AWARD PLAN 
RETENTION RESTRICTED STOCK UNIT AWARD NOTICE
ASGN Incorporated, a Delaware corporation, (the “Company”), pursuant to its 2010 Incentive Award Plan, as amended from time to time (the “Plan”), hereby grants to the holder listed below (“Participant”), an award of restricted stock units (“Restricted Stock Units” or “RSUs”).  Each Restricted Stock Unit represents the right to receive one Share upon vesting of such Restricted Stock Unit.  This award of Restricted Stock Units is subject to all of the terms and conditions set forth herein and in the Restricted Stock Unit Award Agreement attached hereto as Exhibit A (the “Restricted Stock Unit Award Agreement”) and the Plan, each of which are incorporated herein by reference.  Unless otherwise defined herein, the terms defined in the Plan shall have the same defined meanings in this Grant Notice and the Restricted Stock Unit Award Agreement.
	
		
	Participant:
	 

	Grant Date:
	

	

Grant Number:
	 

	Total Number of RSUs:

	_______  (the “Shares”) [which will be equal to $_______ divided by the Fair Market Value (as defined in the Plan) of a share of the Company’s common stock on the Grant Date rounded down to the nearest whole share of the Company’s common stock.]

	Vesting Schedule:
	

[     ]  [Vesting of any outstanding RSUs will accelerate in full if a Termination of Services (as defined in the Restricted Stock Unit Award Agreement) occurs prior to the vesting date(s) due to (a) the Company terminating the Participant’s Services without cause, or (b) the Participant terminating his or her Services due to any change greater than 25 miles in the Participant’s primary office location without the Participant’s consent.]1[In addition, if, on or prior to a Termination of Services due to Participant’s retirement that occurs following the completion of the Performance Period, the Committee, in its sole discretion, determines (i) to accelerate the vesting of the RSUs and (ii) Participant has successfully completed a succession plan with respect to his or her position with the Company (or its Subsidiaries) to the satisfaction of the Committee, then the RSUs may become fully or partially  vested with respect to the Shares covered thereby (as determined by the Committee in its sole discretion) upon such determination.]2

	Termination:
	[Subject to acceleration of vesting as set forth in the paragraph above,] pursuant to Section 2.5 of the Restricted Stock Unit Award Agreement, if Participant ceases to be an Employee, Consultant or Director prior to the applicable vesting date, all RSUs that have not become vested on or prior to the date of such Termination of Services will thereupon be automatically forfeited by Participant without payment of any consideration therefor.

1 Include for time- vesting awards. 
2 Include for awards with retirement provision. 

By his or her signature and the Company’s signature below, Participant agrees to be bound by the terms and conditions of the Plan, the Restricted Stock Unit Award Agreement and this Grant Notice.  Participant has reviewed the Restricted Stock Unit Award Agreement, the Plan and this Grant Notice in their entirety, has had an opportunity to obtain the advice of counsel prior to executing this Grant Notice and fully understands all provisions of this Grant Notice, the Restricted Stock Unit Award Agreement and the Plan.  Participant hereby agrees to accept as binding, conclusive and final all decisions or interpretations of the Administrator upon any questions arising under the Plan, this Grant Notice or the Restricted Stock Unit Award Agreement.  If Participant is married and living in one of the following states: Alaska, Arizona, California, Idaho, Louisiana,
 Nevada, New Mexico, Texas, Washington or Wisconsin, his or her spouse has signed the Consent of Spouse attached to this Grant Notice as Exhibit B.  
	
				
	ASGN INCORPORATED

	PARTICIPANT:

	By:
	 
	By:
	 

	Print Name:
	 
	Print Name:
	 

	Title:
	Chief Executive Officer
	Date:
	__________________________

	Address:
	26745 Malibu Hills Road
	Address:
	 

	 
	Calabasas, CA 91301
	 
	 

EXHIBIT A
TO RETENTION RESTRICTED STOCK UNIT AWARD GRANT NOTICE
ASGN INCORPORATED RESTRICTED STOCK UNIT AWARD AGREEMENT
Pursuant to the Restricted Stock Unit Award Grant Notice (the “Grant Notice”) to which this Restricted Stock Unit Award Agreement (this “Agreement”) is attached, ASGN Incorporated, a Delaware corporation (the “Company”), has granted to Participant an award of restricted stock units (“Restricted Stock Units” or “RSUs”) under the ASGN Incorporated 2010 Incentive Award Plan, as amended from time to time (the “Plan”).  
ARTICLE 1.
GENERAL
1.1    Defined Terms.  Wherever the following terms are used in this Agreement they shall have the meanings specified below, unless the context clearly indicates otherwise.  Capitalized terms not specifically defined herein shall have the meanings specified in the Plan and the Grant Notice.  As used herein, the term “stock unit” shall mean a non-voting unit of measurement which is deemed for bookkeeping purposes to be equivalent to one outstanding Share (subject to adjustment as provided in Section 13.2 of the Plan) solely for purposes of the Plan and this Agreement.  The Restricted Stock Units shall be used solely as a device for the determination of the payment to eventually be made to Participant if such Restricted Stock Units vest pursuant to Section 2.3 hereof.  The Restricted Stock Units shall not be treated as property or as a trust fund of any kind.
(a)    [“Separation from Service” shall mean Participant’s “separation from service”, from the Company or any Subsidiary, within the meaning of Section 409A(a)(2)(A)(i) of the Code.]3 
(b)     “Termination of Consultancy” shall mean the time when the engagement of Participant as a Consultant to the Company or a Subsidiary is terminated for any reason, with or without cause, including, but not by way of limitation, by resignation, discharge, death, Disability or retirement, but excluding:  (a) terminations where there is a simultaneous employment or continuing employment of Participant by the Company or any Subsidiary, and (b) terminations where there is a simultaneous re-establishment of a consulting relationship or continuing consulting relationship between Participant and the Company or any Subsidiary.  The Administrator, in its absolute discretion, shall determine the effect of all matters and questions relating to Termination of Consultancy, including, but not by way of limitation, the question of whether a particular leave of absence constitutes a Termination of Consultancy.  Notwithstanding any other provision of the Plan, the Company or any Subsidiary has an absolute and unrestricted right to terminate a Consultant’s service at any time for any reason whatsoever, with or without cause, except to the extent expressly provided otherwise in writing.
(c)    “Termination of Directorship” shall mean the time when Participant, if he or she is or becomes a Non-Employee Director, ceases to be a Director for any reason, including, but not by way of limitation, a termination by resignation, failure to be elected, death or retirement.  The Board, in its sole and absolute discretion, shall determine the effect of all matters and questions relating to Termination of Directorship with respect to a Non-Employee Director.
(d)    “Termination of Employment” shall mean the time when the employee-employer relationship between Participant and the Company or any Subsidiary is terminated for any reason, with or without cause, including, but not by way of limitation, a termination by resignation, discharge, death, Disability or retirement; but excluding:  (a) terminations where there is a simultaneous reemployment or continuing employment of Participant by the Company or any Subsidiary, and (b) terminations where there is a simultaneous establishment of a consulting relationship or continuing consulting relationship between Participant and the Company or any Subsidiary.  The Administrator, in its absolute discretion, shall determine the effect of all matters and questions relating to Termination of Employment, including, but not by way of limitation, the question of whether a particular leave of absence constitutes a Termination of Employment.

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(e)    “Termination of Services” shall mean Participant’s Termination of Consultancy, Termination of Directorship or Termination of Employment, as applicable.
1.2    Incorporation of Terms of Plan.  The RSUs are subject to the terms and conditions of the Plan which are incorporated herein by reference.  In the event of any inconsistency between the Plan and this Agreement, the terms of the Plan shall control.
ARTICLE 2.

GRANT OF RESTRICTED STOCK UNITS
2.1    Grant of RSUs.  In consideration of Participant’s past and/or continued employment with or service to the Company or a Subsidiary and for other good and valuable consideration, effective as of the Grant Date set forth in the Grant Notice (the “Grant Date”), the Company grants to Participant an award of RSUs as set forth in the Grant Notice, upon the terms and conditions set forth in the Plan and this Agreement. 
2.2    Company’s Obligation to Pay.  Each RSU has a value equal to the Fair Market Value of a Share on the date it becomes vested.  Unless and until the RSUs will have vested in the manner set forth in Article 2 hereof, Participant will have no right to payment of any such RSUs.  Prior to actual payment of any vested RSUs, such RSUs will represent an unsecured obligation of the Company, payable (if at all) only from the general assets of the Company.  
2.3    Vesting Schedule.  Subject to Sections 2.3 and 2.5 hereof, the RSUs awarded by the Grant Notice will vest and become nonforfeitable with respect to the applicable portion thereof according to the vesting schedule set forth on the Grant Notice to which this Agreement is attached (the “Vesting Schedule”), subject to Participant’s continued employment or services through the applicable vesting dates, as a condition to the vesting of the applicable installment of the RSUs and the rights and benefits under this Agreement.  Unless otherwise determined by the Administrator, partial employment or service, even if substantial, during any vesting period will not entitle Participant to any proportionate vesting or avoid or mitigate a termination of rights and benefits upon or following a Termination of Services as provided in Section 2.5 hereof or under the Plan.
2.4    Consideration to the Company.  In consideration of the grant of the award of RSUs by the Company, Participant agrees to render faithful and efficient services to the Company or any Subsidiary.  Nothing in the Plan or this Agreement shall confer upon Participant any right to continue in the employ or service of the Company or any Subsidiary or shall interfere with or restrict in any way the rights of the Company and its Subsidiaries, which rights are hereby expressly reserved, to discharge or terminate the services of Participant at any time for any reason whatsoever, with or without cause, except to the extent expressly provided otherwise in a written agreement between the Company or a Subsidiary and Participant.
2.5    Forfeiture, Termination and Cancellation upon Termination of Services.  Notwithstanding any contrary provision of this Agreement, upon Participant’s Termination of Services for any or no reason, all then unvested RSUs subject to this Agreement will thereupon be automatically forfeited, terminated and cancelled as of the applicable termination date without payment of any consideration by the Company, and Participant, or Participant’s beneficiary or personal representative, as the case may be, shall have no further rights hereunder.
2.6    Payment of RSUs. 
(a)    [As soon as administratively practicable following the vesting of any Restricted Stock Units pursuant to Section 2.3 hereof, but in no event later than sixty (60) days after such vesting date (for the avoidance of doubt, this deadline is intended to comply with the “short-term deferral” exemption from Section 409A of the Code), the Company shall deliver to Participant (or any transferee permitted under Section 3.2 hereof) a number of Shares (either by delivering one or more certificates for such shares or by entering such shares in book entry form, as determined by the Company in its sole discretion) equal to the number of Restricted Stock Units subject to this 

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award that vest on the applicable vesting date, unless such Restricted Stock Units terminate prior to the given vesting date pursuant to Section 2.5 hereof.  Notwithstanding the foregoing, in the event Shares cannot be issued pursuant to Section 2.7(a), (b) or (c) hereof, then the Shares shall be issued pursuant to the preceding sentence as soon as administratively practicable after the Administrator determines that Shares can again be issued in accordance with Sections 2.7(a), (b) and (c) hereof.]4 / [Subject to Section 3.13(b) hereof, Shares underlying the RSUs shall, to the extent vested, be delivered to Participant (or any transferee permitted under Section 3.2 hereof, if applicable) on the thirtieth (30th) day following the applicable [Anniversary Date; provided, however, that if a Separation from Service occurs due to Participant’s retirement, then Shares underlying the RSUs shall, to the extent vested as of such Separation from Service, be delivered to Participant with respect to 50% of such RSUs on each of the Anniversary Dates (or, if such Separation from Service occurs after the first Anniversary Date, then with respect to 100% of such RSUs on the second Anniversary Date), with each issuance to occur on the thirtieth (30th) day following each Anniversary Date.  Notwithstanding anything to the contrary contained herein, the exact payment date of any RSUs shall be determined by the Company in its sole discretion (and Participant shall not have a right to designate the time of payment).]5 
(b)    Notwithstanding anything to the contrary in this Agreement, the Company shall be entitled to require payment by Participant of any sums required by applicable law to be withheld with respect to the grant of RSUs or the issuance of Shares.  Such payment shall be made by deduction from other compensation payable to Participant or in such other form of consideration acceptable to the Company which may, in the sole discretion of the Administrator, include: 
(i)    Cash or check;
(ii)     Surrender of Shares (including, without limitation, Shares otherwise issuable under the RSUs) held for such period of time as may be required by the Administrator in order to avoid adverse accounting consequences and having a Fair Market Value on the date of delivery equal to the minimum amount required to be withheld by statute; or
(iii)    Other property acceptable to the Administrator (including, without limitation, through the delivery of a notice that Participant has placed a market sell order with a broker with respect to Shares then issuable under the RSUs, and that the broker has been directed to pay a sufficient portion of the net proceeds of the sale to the Company in satisfaction of its withholding obligations; provided that payment of such proceeds is then made to the Company at such time as may be required by the Company, but in any event not later than the settlement of such sale).
The Company shall not be obligated to deliver any new certificate representing Shares to Participant or Participant’s legal representative or enter such Share in book entry form unless and until Participant or Participant’s legal representative shall have paid or otherwise satisfied in full the amount of all federal, state and local taxes applicable to the taxable income of Participant resulting from the grant or vesting of the RSUs or the issuance of Shares.  
[To the extent that any Federal Insurance Contributions Act tax withholding obligations arise in connection with the RSUs prior to the applicable vesting date, the Administrator shall accelerate the payment of a portion of the award of RSUs sufficient to satisfy (but not in excess of) such tax withholding obligations and any tax withholding obligations associated with any such accelerated payment, and the Administrator shall withhold such amounts in satisfaction of such withholding obligations.]6 
2.7    Conditions to Delivery of Stock.  Subject to Section 2.6, the Shares deliverable hereunder, or any portion thereof, may be either previously authorized but unissued Shares or issued Shares which have then been reacquired by the Company.  Such Shares shall be fully paid and nonassessable.  The Company shall not be required to issue or deliver any Shares deliverable hereunder or portion thereof prior to fulfillment of all of the following conditions:
(a)    The admission of such Shares to listing on all stock exchanges on which such Shares are then listed; 

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(b)    The completion of any registration or other qualification of such Shares under any state or federal law or under rulings or regulations of the Securities and Exchange Commission or of any other governmental regulatory body, which the Administrator shall, in its absolute discretion, deem necessary or advisable; 
(c)    The obtaining of any approval or other clearance from any state or federal governmental agency which the Administrator shall, in its absolute discretion, determine to be necessary or advisable; 
(d)    The receipt by the Company of full payment for such Shares, including payment of any applicable withholding tax, which may be in one or more of the forms of consideration permitted under Section 2.6 hereof; and
(e)    The lapse of such reasonable period of time following the vesting of any Restricted Stock Units as the Administrator may from time to time establish for reasons of administrative convenience.
2.8    Rights as Stockholder.  The holder of the RSUs shall not be, nor have any of the rights or privileges of, a stockholder of the Company, including, without limitation, voting rights and rights to dividends, in respect of the RSUs and any Shares underlying the RSUs and deliverable hereunder unless and until such Shares shall have been issued by the Company and held of record by such holder (as evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer agent of the Company).  No adjustment will be made for a dividend or other right for which the record date is prior to the date the Shares are issued, except as provided in Section 13.2 of the Plan.  

ARTICLE 3.
OTHER PROVISIONS
3.1    Administration.  The Administrator shall have the power to interpret the Plan and this Agreement and to adopt such rules for the administration, interpretation and application of the Plan as are consistent therewith and to interpret, amend or revoke any such rules.  All actions taken and all interpretations and determinations made by the Administrator in good faith shall be final and binding upon Participant, the Company and all other interested persons.  Neither any person or persons acting as the Administrator and nor any member of the Committee or the Board shall be personally liable for any action, determination or interpretation made in good faith with respect to the Plan, this Agreement or the RSUs.  
3.2    Grant is Not Transferable.  During the lifetime of Participant, the RSUs may not be sold, pledged, assigned or transferred in any manner other than by will or the laws of descent and distribution, unless and until the Shares underlying the RSUs have been issued, and all restrictions applicable to such Shares have lapsed.  Neither the RSUs nor any interest or right therein shall be liable for the debts, contracts or engagements of Participant or his or her successors in interest or shall be subject to disposition by transfer, alienation, anticipation, pledge, encumbrance, assignment or any other means whether such disposition be voluntary or involuntary or by operation of law by judgment, levy, attachment, garnishment or any other legal or equitable proceedings (including bankruptcy), and any attempted disposition thereof shall be null and void and of no effect, except to the extent that such disposition is permitted by the preceding sentence.
3.3    Binding Agreement.  Subject to the limitation on the transferability of the RSUs contained herein, this Agreement will be binding upon and inure to the benefit of the heirs, legatees, legal representatives, successors and assigns of the parties hereto.
3.4    Adjustments Upon Specified Events.  The Administrator may accelerate payment and vesting of the Restricted Stock Units in such circumstances as it, in its sole discretion, may determine.  In addition, upon the occurrence of certain events relating to the Shares contemplated by Section 13.2 of the Plan (including, without limitation, an extraordinary cash dividend on such Stock), the Administrator shall make such adjustments the 

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Administrator deems appropriate in the number of Restricted Stock Units then outstanding and the number and kind of securities that may be issued in respect of the Restricted Stock Units.  Participant acknowledges that the RSUs are subject to amendment, modification and termination in certain events as provided in this Agreement and under the Plan, including without limitation, under Section 13.2 of the Plan.  
3.5    Notices.  Any notice to be given under the terms of this Agreement to the Company shall be addressed to the Company in care of the Secretary of the Company at the Company’s principal office, and any notice to be given to Participant shall be addressed to Participant at Participant’s last address reflected on the Company’s records.  By a notice given pursuant to this Section 3.5, either party may hereafter designate a different address for notices to be given to that party.  Any notice shall be deemed duly given when sent via email or when sent by certified mail (return receipt requested) and deposited (with postage prepaid) in a post office or branch post office regularly maintained by the United States Postal Service.
3.6    Titles.  Titles are provided herein for convenience only and are not to serve as a basis for interpretation or construction of this Agreement.
3.7    Governing Law.  The laws of the State of California shall govern the interpretation, validity, administration, enforcement and performance of the terms of this Agreement regardless of the law that might be applied under principles of conflicts of laws.
3.8    Conformity to Securities Laws.  Participant acknowledges that the Plan and this Agreement are intended to conform to the extent necessary with all provisions of the Securities Act and the Exchange Act and any and all regulations and rules promulgated by the Securities and Exchange Commission thereunder, and state securities laws and regulations.  Notwithstanding anything herein to the contrary, the Plan shall be administered, and the RSUs are granted, only in such a manner as to conform to such laws, rules and regulations.  To the extent permitted by applicable law, the Plan and this Agreement shall be deemed amended to the extent necessary to conform to such laws, rules and regulations.
3.9    Amendments, Suspension and Termination.  To the extent permitted by the Plan, this Agreement may be wholly or partially amended or otherwise modified, suspended or terminated at any time or from time to time by the Administrator; provided that, except as may otherwise be provided by the Plan, no amendment, modification, suspension or termination of this Agreement shall adversely affect the RSUs in any material way without the prior written consent of Participant.    
3.10    Successors and Assigns.  The Company may assign any of its rights under this Agreement to single or multiple assignees, and this Agreement shall inure to the benefit of the successors and assigns of the Company.  Subject to the restrictions on transfer herein set forth in Section 3.2 hereof, this Agreement shall be binding upon Participant and his or her heirs, executors, administrators, successors and assigns.
3.11    Limitations Applicable to Section 16 Persons.  Notwithstanding any other provision of the Plan or this Agreement, if Participant is subject to Section 16 of the Exchange Act, the Plan, the RSUs and this Agreement shall be subject to any additional limitations set forth in any applicable exemptive rule under Section 16 of the Exchange Act (including any amendment to Rule 16b-3 of the Exchange Act) that are requirements for the application of such exemptive rule.  To the extent permitted by applicable law, this Agreement shall be deemed amended to the extent necessary to conform to such applicable exemptive rule.
3.12    Entire Agreement.  The Plan, the Grant Notice and this Agreement constitute the entire agreement of the parties and supersede in their entirety all prior undertakings and agreements of the Company and Participant with respect to the subject matter hereof.
3.13    Section 409A.  [The RSUs are not intended to constitute “nonqualified deferred compensation” within the meaning of Section 409A of the Code (together with any Department of Treasury regulations and other interpretive guidance issued thereunder, including without limitation any such regulations or other guidance that may be issued after the date hereof, “Section 409A”).  However, notwithstanding any other provision of the Plan, 

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the Grant Notice or this Agreement, if at any time the Administrator determines that the RSUs (or any portion thereof) may be subject to Section 409A, the Administrator shall have the right in its sole discretion (without any obligation to do so or to indemnify Participant or any other person for failure to do so) to adopt such amendments to the Plan, the Grant Notice or this Agreement, or adopt other policies and procedures (including amendments, policies and procedures with retroactive effect), or take any other actions, as the Administrator determines are necessary or appropriate either for the RSUs to be exempt from the application of Section 409A or to comply with the requirements of Section 409A.]7 
(a)    [General. To the extent applicable, this Agreement shall be interpreted in accordance with Section 409A of the Code and Department of Treasury regulations and other interpretive guidance issued thereunder (“Section 409A”), including without limitation any such regulations or other guidance that may be issued after the effective date of this Agreement.  Notwithstanding any other provision of the Plan, the Grant Notice or this Agreement, if at any time the Administrator determines that the RSUs (or any portion thereof) may be subject to Section 409A, the Administrator shall have the right in its sole discretion (without any obligation to do so or to indemnify Participant or any other person for failure to do so) to adopt such amendments to the Plan, the Grant Notice or this Agreement, or adopt other policies and procedures (including amendments, policies and procedures with retroactive effect), or take any other actions, as the Administrator determines are necessary or appropriate for the RSUs to be exempt from the application of Section 409A or to comply with the requirements of Section 409A.
(b)    Potential Six-Month Delay.  Notwithstanding anything to the contrary in this Agreement, no amounts shall be paid to Participant under this Agreement during the six (6)-month period following Participant’s Separation from Service to the extent that the Administrator determines that Participant is a “specified employee” (within the meaning of Section 409A) at the time of such Separation from Service and that paying such amounts at the time or times indicated in this Agreement would be a prohibited distribution under Section 409A(a)(2)(B)(i) of the Code.  If the payment of any such amounts is delayed as a result of the previous sentence, then on the first business day following the end of such six (6)-month period (or such earlier date upon which such amount can be paid under Section 409A without being subject to such additional taxes), the Company shall pay to Participant in a lump-sum all amounts that would have otherwise been payable to Participant during such six (6)-month period under this Agreement.]8 
3.14    Limitation on Participant’s Rights.  Participation in the Plan confers no rights or interests other than as herein provided.  This Agreement creates only a contractual obligation on the part of the Company as to amounts payable and shall not be construed as creating a trust.  Neither the Plan nor any underlying program, in and of itself, has any assets.  Participant shall have only the rights of a general unsecured creditor of the Company with respect to amounts credited and benefits payable, if any, with respect to the RSUs, and rights no greater than the right to receive the Shares as a general unsecured creditor with respect to RSUs, as and when payable hereunder.  
3 Include for awards with retirement provision.
4 Include for awards without retirement provision.
5 Include for awards with retirement provision with vesting on the fourth and fifth Anniversary Dates of grant.
6 Include for awards with retirement provision.
7 Include for awards without retirement provision.
8 Include for awards with retirement provision

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EXHIBIT B 
TO RESTRICTED STOCK UNIT AWARD NOTICE 
 
CONSENT OF SPOUSE

I, ____________________, spouse of ____________________, have read and approve the foregoing ASGN Incorporated Restricted Stock Unit Award Agreement (the “Agreement”).  In consideration of issuing to my spouse the shares of the common stock of ASGN Incorporated set forth in the Agreement, I hereby appoint my spouse as my attorney-in-fact in respect to the exercise of any rights under the Agreement and agree to be bound by the provisions of the Agreement insofar as I may have any rights in said Agreement or any shares of the common stock of ASGN Incorporated issued pursuant thereto under the community property laws or similar laws relating to marital property in effect in the state of our residence as of the date of the signing of the foregoing Agreement.
	
						
	 
	 
	 
	 
	 
	 

	 
	Dated:
	 
	 
	 
	 

	 
	 
	 
	 
	Signature of Spouse
	 

	 
	 
	 
	 
	 
	 

B-1ohi_Ex10_1

		
			FOURTH AMENDMENT
		

		
			TO EMPLOYMENT AGREEMENT
		

		
			 
		

		
			THIS FOURTH AMENDMENT TO EMPLOYMENT AGREEMENT (the “Amendment”) is made May 10, 2019, among OHI Asset Management LLC (the “Company”), Omega Healthcare Investors, Inc. (the “Parent”), and ________________ (the “Executive”). 
		

		
			INTRODUCTION
		

		
			 
		

		
			The Company, the Parent and the Executive are parties to an employment agreement (the “Employment Agreement”) generally effective as of March 31, 2015, amended effective March 17, 2016,  January 9, 2017 and December 19, 2017.  The parties now desire to further amend the Employment Agreement to, among other things, update the annual base salary payable to the Executive, extend the term of the Employment Agreement by one year to December 31, 2021 (subject to earlier termination as provided in the Employment Agreement),  update the definition of “Competing Business” and the definition of the “Area”.    
		

		
			 
		

		
			NOW, THEREFORE, in consideration of the mutual promises herein contained and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree that the Employment Agreement is amended, effective as of the date first set forth above (except as otherwise provided below), as follows:
		

		
			 
		

			
	
			
				 1.
			By substituting the following for the first sentence of Section 2(a):

		
			 
		

		
			“The Company shall pay the Executive base salary of $___,___ per annum effective January 1, 2019, which base salary will be subject to review effective as of January 1, 2020, and at least annually thereafter by the Compensation Committee of the Board of Directors of the Parent (the “Compensation Committee”) for possible increases.”  
		

		
			 
		

			
	
			
				 2.
			By substituting in the first sentence of Section 2(b)(ii) the year “2019” for the year “2018”.

		
			 
		

			
	
			
				 3.
			By substituting in the second sentence of Section 2(b)(iii), in Section 3(a), in Section 3(c)(ii) and in Section 5(f) the year “2021” for the year “2020” wherever it appears. 

		
			 
		

			
	
			
				 4.
			By substituting the following for Section 9(f):

		
			 
		

		
			“(f)‘Competing Business’ means the entities listed below and any person, firm, corporation, joint venture, or other business that is engaged in the Business of the Company:
		

			
	
			
				 (i)
			CareTrust REIT, Inc.,

			
	
			
				 (ii)
			Colony Capital, Inc., 

			
	
			
				 (iii)
			Communities Healthcare Trust Incorporated,

			
	
			
				 (iv)
			Formation Capital, LLC,

			
	
			
				 (v)
			Global Medical REIT, Inc.,

		
			

		 

		

			 

		

		

			
	
			
				 (vi)
			HCP, Inc.,

			
	
			
				 (vii)
			Healthcare Realty Trust Incorporated,

			
	
			
				 (viii)
			Healthcare Trust of America, Inc.,

			
	
			
				 (ix)
			LTC Properties, Inc.,

			
	
			
				 (x)
			MedEquities Realty Trust, Inc.,

			
	
			
				 (xi)
			Medical Properties Trust, Inc.,

			
	
			
				 (xii)
			National Health Investors, Inc.,

			
	
			
				 (xiii)
			New Senior Investment Group Inc.,

			
	
			
				 (xiv)
			Physicians Realty Trust,

			
	
			
				 (xv)
			Sabra Health Care REIT, Inc.,

			
	
			
				 (xvi)
			Senior Housing Properties Trust,

			
	
			
				 (xvii)
			Universal Health Realty Income Trust,

			
	
			
				 (xviii)
			Ventas, Inc., and

			
	
			
				 (xix)
			Welltower Inc.”

		
			 
		

			
	
			
				 5.
			By substituting the attached Exhibit B for the existing Exhibit B.

		
			 
		

			
	
			
				 6.
			By adding the following Section 10 to the Employment Agreement:

		
			 
		

		
			“10.Intellectual Property Agreement. 
		

		
			 
		

		
			Notwithstanding any other provision of this Agreement, as a condition to the effectiveness of the Fourth Amendment to the Employment Agreement, the Executive shall sign, return and be subject to the Intellectual Property Agreement, appended hereto as Exhibit D,  effective as of the date of the Fourth Amendment to the Employment Agreement.  The Intellectual Property Agreement shall be in full force and effect and shall be in addition to, but shall not supersede, the Executive’s pre-existing obligations under the Agreement.”
		

		
			 
		

			
	
			
				 7.
			By adding the following Section 11 to the Employment Agreement:

		
			 
		

		
			“11.Clawback. 
		

		
			 
		

		
			The Executive has read and understands, and acknowledges that he is bound by, the Incentive Compensation Recovery Policy appended hereto as Exhibit E.” 
		

		
			 
		

		
			In all remaining respects, the terms of the Employment Agreement shall remain in full force and effect as prior to this Fourth Amendment.
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]
		

		
			

		 

		

			-2-

		

		

			12353647.6

		

IN WITNESS WHEREOF, the Company, the Parent and the Executive have each executed and delivered this Fourth Amendment to Employment Agreement as of the date first shown above.
		

		
			 
		

		
			THE COMPANY:
		

		
			 
		

		
			OHI ASSET MANAGEMENT LLC
		

		
			 
		

		
			 
		

		
			By:____________________________________
		

		
			 
		

		
			 
		

		
			 
		

		
			THE PARENT 

OMEGA HEALTHCARE INVESTORS, INC.

By:

THE EXECUTIVE:
		

		
			

		

		
			 
		

		
			 
		

		
			 
		

		
			

		 

		

			-3-

		

		

			12353647.6

		

		

		
			EXHIBIT B
		

		
			 
		

		
			STATES, AREAS AND COUNTRIES 
		

		
			 
		

		
			Alabama 
		

		
			Arkansas
		

		
			Arizona 
		

		
			California 
		

		
			Colorado 
		

		
			Connecticut 
		

		
			Florida 
		

		
			Georgia 
		

		
			Idaho 
		

		
			Illinois
		

		
			Indiana 
		

		
			Iowa
		

		
			Kansas
		

		
			Kentucky
		

		
			Louisiana 
		

		
			Maryland
		

		
			Massachusetts
		

		
			Michigan
		

		
			Minnesota
		

		
			Mississippi
		

		
			Missouri
		

		
			Montana
		

		
			Nebraska
		

		
			Nevada
		

		
			New Hampshire
		

		
			New Mexico
		

		
			New York
		

		
			North Carolina
		

		
			Ohio
		

		
			Oklahoma
		

		
			Oregon
		

		
			Pennsylvania
		

		
			Rhode Island
		

		
			South Carolina
		

		
			Tennessee
		

		
			Texas
		

		
			Vermont
		

		
			Virginia
		

		
			Washington
		

		
			West Virginia
		

		
			Wisconsin
		

		
			 
		

		
			England
		

		
			
		

		
			

		 

		

			 

		

		

			12353647.6

		

		

		
			EXHIBIT D
		

		
			 
		

		
			INTELLECTUAL PROPERTY AGREEMENT
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			
		

		
			

		 

		

			 

		

		

			12353647.6

		

		

		
			EXHIBIT E
		

		
			 
		

		
			INCENTIVE COMPENSATION RECOVERY POLICY
		

		
			 
		

		 

		

			 

		

		

			12353647.6

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