Document:

Contract for the Sale of State of Nevada Property

 Exhibit 10.30 
  
 

 
  
 Washoe County, APN 032-031-05 

NV 13, #2805, MMO 
  
 Recording requested by and return to: 
 Division of State Lands 
 901 S. Stewart St., Suite 5003 
 Reno, NV 89701 
  
 CONTRACT 
 FOR THE SALE OF 
 STATE OF NEVADA PROPERTY 
 At 
 South of the Southern Terminus of
21st & 22nd Streets 
 137.57± feet South of Victorian Avenue 
 Sparks, Washoe County, Nevada 
  
 WHEREAS, Chapter 470, Statutes of Nevada, approved on May 12, 1977, authorized the State Land Registrar to offer for sale, upon the request of
the City of Sparks, the land hereinafter described; and 
  
 WHEREAS, on August 26, 2003 the City of Sparks informed the State of Nevada, Division of State Lands, that the City desires to have the State proceed with the sale of aforementioned land; and 
  
 WHEREAS, the State Land Registrar has caused a notice of sale to be
published once a week for four consecutive weeks in two newspapers of general circulation in Washoe County, the Sparks News and Tribune and the Reno Gazette-Journal, commencing October 1, 2005, and met all of the conditions
required to complete the sale; and 
  
 NOW THEREFORE, the
State of Nevada, by and through its Division of State Lands, hereinafter referred to as the STATE does hereby offer for sale the property 

			
	Page 1 of 5	 	NV-13 Plantation/ Rail City Property
	 	 	2.577± Acre parcel, Sparks, NV

 
known as a parcel of land located on the west side of 21st Street, 120± feet south of Victorian Avenue, Sparks, Washoe County, Nevada. Real property is a 2.577± acre vacant site known as Washoe County Assessor’s Parcel Number 032-031-05,
and further described as follows; 
  
 Beginning at the section
corner common to sections 5, 6, 7, and 8, T. 19 N., R. 20 E., M.D.B. & M-, thence South 0°41’08” West, along the eastern boundary of the property owned by the State of Nevada a distance of 195.07 feet to a point in the
northern right-of-way line for Nevada Interstate Route 80; thence North 88°56’45” West, along such right-of-way line a distance of 166.63 feet to a point; thence North 80°24’30” West, continuing along such right-of-way
line a distance of 540.74 feet to an intersection with the western boundary of the property owned by the State of Nevada thence North 0°20’57” East, along such western boundary a distance of 106.17 feet to the northwest corner of such
property; thence South 89°39’02” East, along the northern boundary of such property a distance of 701.48 feet to the point of beginning, containing 2.577 acres more or less. 
  
 And, Robert J. Medeiros, of Plantation Investments, Inc., hereinafter referred to as
PURCHASER, do hereby contract and agree as follows: 
  
 1. The PURCHASER has read
all portions of Terms and Conditions of Land Sales, a copy of which is attached hereto as Exhibit A and by reference made a part hereof. PURCHASER acknowledges that he is thoroughly familiar with the contents of said Exhibit A and
hereby agrees to the provisions thereof. 
  
 2. The offer to purchase was received
November 29, 2005, at public auction. The PURCHASER at said public auction has offered to the STATE Nine Hundred One Thousand One Hundred Sixty - Five, ($901,165.00) as the purchase price for the property. The STATE has accepted said offer
conditioned upon compliance with this Contract and the Terms and Conditions of Land Sales attached hereto. 

			
	Page 2 of 5	 	NV-13 Plantation/ Rail City Property
	 	 	2.577± Acre parcel, Sparks, NV

 3. The PURCHASER has made a down payment for the property in the amount of Ninety Thousand One Hundred Twenty - One
50/100 ($90,121.50) in the form of a cashier’s check, cash, or money order. It is agreed that such down payment will be applied to the above stated purchase price. However, it is further agreed that said down payment shall be forfeited to the
STATE upon the failure of PURCHASER to comply with the provisions of this Contract and the Terms and Conditions of Land Sales. 
  
 4. PURCHASER shall have until 5:00 p.m. on December 29, 2005, to remit the balance of the purchase price to the STATE. The balance of the purchase price shall be in
the form of a cashier’s check, cash, or money order payable to the State of Nevada. 
  
 5. The STATE has made no representation of warranty as to survey, location of property lines, availability of ingress and egress, condition of the land, or merchantability of title and it is agreed that the STATE will
convey the described property by a Quitclaim Deed upon compliance by purchaser with all requirements. 
  
 Dated this 29th day of November, 2005. 

			
	Page 3 of 5	 	NV-13 Plantation/ Rail City Property
	 	 	2.577± Acre parcel, Sparks, NV

			
	PURCHASER:
		
	By:	 	

	 	 	 

  

							
	STATE OF NEVADA	  	)	  	 

	  	MEGHAN O’NEAL
	 	  	ss:	  	  	Notary Public - State of Nevada
	CARSON CITY	  	)	  	  	Appointment Recorded in Washoe County
	 	  	 	  	  	No: 03-84807-2 - Expires October 23, 2007

  
 On November 29, 2005 personally
appeared before me, a Notary Public, Robert Joseph Medeiros who acknowledged that he/she executed the above instrument. 
  

	
	
	

	NOTARY PUBLIC

  

			
	 STATE OF NEVADA
 Division of State
Lands

		
	By:	 	

	 	 	Pamela B. Wilcox
	 	 	Administrator and Ex-Officio State Land Registrar

  

							
	STATE OF NEVADA	  	)	  	 

	  	MEGHAN O’NEAL
	 	  	ss:	  	  	Notary Public - State of Nevada
	CARSON CITY	  	)	  	  	Appointment Recorded in Washoe County
	 	  	 	  	  	No: 03-84807-2 - Expires October 23, 2007

  
 On November 29, 2005 personally
appeared before me, a Notary Public, PAMELA B. WILCOX, who acknowledged that he/she executed the above instrument. 
  

	
	
	

	NOTARY PUBLIC

  

			
	Page 4 of 5	 	NV-13 Plantation/ Rail City Property
	 	 	2.577± Acre parcel, Sparks, NV

			
	 APPROVED AS TO FORM:
 Brian
Sandoval
 Attorney General

		
	By:	 	/s/    GEORGE H. TAYLOR        
	 	 	George H. Taylor
	 	 	Deputy Attorney General

			
	Page 5 of 5	 	NV-13 Plantation/ Rail City Property
	 	 	2.577± Acre parcel, Sparks, NV

 EXHIBIT A 
  
 TERMS AND CONDITIONS OF LAND SALES 
  

	1.	A down payment of 10% of the minimum bid in the form of cash, cashier’s check, or money order is required as a deposit by the successful bidder. The down payment will be
credited toward the bid purchase price. 

  

	2.	The successful bidder shall pay all appraisal, advertising and escrow/title costs, including but not limited to, recording fees, real property transfer tax, or other real estate
transaction taxes or fees by whatever name known, including title insurance and broker’s commission, if any, and personal property taxes where applicable. Minimum sale price by law must include the costs of the appraisal and publication of the
legal notice of sale. The 10% down payment of the minimum bid includes the aforementioned costs. The State of Nevada does not pay real estate commissions. 

  

	3.	The balance of the bid purchase price will be due and payable in full by 5:00 p.m., Thursday, December 29, 2005. 

  

	4.	The deposit shall be NON-REFUNDABLE in the event that the successful bidder fails to comply with any and all terms and conditions of land sales as herein provided.

  

	5.	The State will deposit the down payment in an interest bearing account with interest accruing to the State. Such interest will not reduce the principal owned to the State.

  

			
	Page 1 of 3	 	11/23/2005

	6.	The State reserves the right to reject any and all bids and to cancel the sale in part or in its entirety. 

  

	7.	Prospective bidders must be aware that the property is being sold “as is” and it is the responsibility of the purchaser to determine if the property is suitable for their
intended use. 

  

	8.	Prospective bidders should confer with local planning officials to determine feasibility of any intended use of the property including, but not limited to the property size, zoning
and any potential right-of-way dedications. The State makes no warranty as to existing or future zoning nor local engineering requirements for development. 

  

	9.	Should the successful purchaser desire a survey of the property, this may be accomplished by an independent survey at the purchaser’s expense. No warranty is made by the
Division of State Lands as to the locations of property lines or availability of ingress and egress. 

  

	10.	The successful bidder shall be responsible for complying with local building codes and correcting defects which may be required by local governing agencies and/or lending agencies.
ALL properties are sold in an “as is” condition. 

  

	11.	The sale of state land shall conform to the policies and procedures of NRS 321.335. 

  

	12.	Pursuant to Title IV of the Civil Rights Act of 1964, no one will be discriminated against concerning the Public Auction on the grounds of race, color, sex, age, creed, national
origin or handicap. 

  

			
	Page 2 of 3	 	11/23/2005

	13.	The right, title and interest in the property shall not exceed that vested in the State of Nevada, and this sale is subject to exceptions and reservations set forth. NO POLICY OF
TITLE INSURANCE will be furnished by the State in connection with this transaction. 

  

	14.	Prospective bidders should consult local title companies if more complete information regarding the status of the title of the property is required. 

  

	15.	The information contained in this contract (purchase agreement) was obtained from sources deemed reliable, but is not guaranteed, and is furnished solely as an aid to prospective
bidders. 

  

	16.	The property will be conveyed by Quitclaim Deed and will be subject to valid existing recorded or unrecorded easements, liens, or encumbrances. It should be specifically understood
that the State is only conveying what right, title and interest it has and does not warrant the property to be free and clear from any easements, liens or encumbrances. 

  

			
	Page 3 of 3	 	11/23/2005Form of Stock Award Agreement

 Exhibit 10.1 
  
 Award No. _________ 
  
 THE GAP, INC. 
 STOCK AWARD
AGREEMENT1 
  
 The Gap, Inc. (the “Company”) hereby grants to ___________ (the “Employee”), an award (the “Award”) of Performance Units (each Performance
Unit shall be referred to as a “Stock Award”) which represent the right to receive shares of the Company’s common stock, $0.05 par value (the “Shares”) subject to the fulfillment of the vesting conditions and other
conditions set forth in the attached Appendix A. This Award is granted pursuant to The Gap, Inc. 1996 Stock Option and Award Plan (the “Plan”) and is subject to all of the terms and conditions contained in this Stock Award Agreement (the
“Agreement”), including the terms and conditions contained in the attached Appendix A. The date of this Agreement is ________. Subject to the provisions of Appendix A and of the Plan, the principal features of this Award are as follows:

  

			
	Number of Stock Awards:	    	______
		
	Date of Grant:	    	______
		
	 Date(s) Stock Awards
 Scheduled to Vest:
	    	______

  
 As provided in the Plan and in this
Agreement, this Award may terminate before the scheduled vest date(s) of the Stock Awards. For example, if Employee’s employment as Chief Executive Officer ends before the date this Award vests, this Award will terminate at the same time as
such termination. Important additional information on vesting and forfeiture of the Stock Awards covered by this Award including those due to changes in employment is contained in paragraphs 3 through 5 of Appendix A. 
  
 IN WITNESS WHEREOF, the Company and the Employee have executed this Agreement, in duplicate,
to be effective as of the date first above written. 
  

									
	 	 	 	 	 	 	 THE GAP, INC.

			
	 Dated: _____________
	 	 	 	 
	 	 	 	 	 	 	 Robert Fisher

	 	 	 	 	 	 	 Chairman of the Board

	
	My signature below indicates that I understand that this Award is 1) subject to all of the terms and conditions of this Agreement (including the attached Appendix A) and of the Plan,
2) not considered salary, nor is it a promise for future grants of Stock Awards, 3) not a term or condition of my employment with the Company, and 4) made at the sole discretion of the Company.
		
	 	 	 EMPLOYEE

				
	 Dated: _____________
	 	 	 	 Signature:
	 	 
					
	 	 	 	 	 	 	 Address:
	 	 
					
	 	 	 	 	 	 	 	 	 
					
	 	 	 	 	 	 	 	 	 

									
					
	 	 	 	 	 	 	 Social Security No.:
	 	 
	 	 	 	 	 	 	 (Or National ID)
	 	 

  

	1	STOCK AWARDS GRANTED BY THE GAP, INC. ARE GOVERNED SOLELY BY THE LAWS OF THE STATE OF CALIFORNIA AND THE UNITED STATES OF AMERICA 

 APPENDIX A 
  

TERMS AND CONDITIONS OF STOCK AWARD 
  
 1. Grant of Stock Awards. The Company hereby grants to the Employee as a separate incentive in connection with his or her employment and not in
lieu of any salary or other compensation for his or her services, an Award with respect to the number of Stock Awards set forth on page 1 of this Agreement, subject to all the terms and conditions in this Agreement and the Plan. Employee understands
and agrees that this Award does not guarantee any future Stock Award grants and that grants are made at the sole discretion of the Company. 
  
 2. Company’s Obligation to Pay. On any date, a Stock Award has a value equal to the Fair Market Value of one Share. Unless and until a Stock
Award has vested in accordance with the vesting schedule set forth on the first page of this Agreement, the Employee will have no right to payment of a Share with respect to the Stock Award. Prior to actual payment of any Shares pursuant to vested
Stock Awards, each Stock Award represents an unsecured obligation of the Company, payable (if at all) only from the general assets of the Company. 
  
 3. Vesting of Stock Awards and Issuance of Shares. Subject to paragraphs 4 and 5, the Stock Awards subject to this Agreement will vest as to the
number of Stock Awards, and on the dates shown, on the first page of this Agreement (each a “Vesting Date”), but in each case, only if the Employee has been continuously employed as the Chief Executive Officer by the Company or by one of
its Affiliates from the date of this Award until the applicable Vesting Date of the Stock Awards. If Employee is not employed as the Chief Executive Officer on such date(s), the Award shall terminate, as set forth in paragraph 5. Upon each Vesting
Date, one Share shall be issued for each Stock Award that vests on such Vesting Date, subject to the terms and provisions of the Plan and this Agreement. No fractional Shares shall be issued under this Agreement. 
  
 4. Death or Retirement. In the event of the Employee’s death
or Retirement (as defined in the Plan), the remaining Stock Awards shall become fully vested on the date of death or Retirement, as applicable. Notwithstanding the previous sentence, if in the event that within one year of the date of this
Agreement, Employee dies or terminates employment due to Retirement, this Stock Award shall immediately thereupon terminate. 
  
 5. Termination of Service. Notwithstanding any contrary provision of this Agreement, the balance of the Stock Awards that have not vested pursuant
to paragraph 3 or 4 will be forfeited and cancelled automatically at the time of the Employee’s Termination of Service as Chief Executive Officer. 
  
 6. Withholding Taxes. On each Vesting Date, the Employee agrees that the Company will withhold a portion of the Shares scheduled to be issued
pursuant to vested Stock Awards that have an aggregate market value sufficient to pay the federal, state and local income, employment and any other applicable taxes required to be withheld by the Company or its designated Affiliate. The Company will
only withhold whole Shares and therefore the Employee also authorizes deduction without notice from salary or other amounts payable to the Employee of cash in an amount sufficient to satisfy the Company’s remaining tax withholding obligation.
Notwithstanding the previous two sentences, the Employee, if the Company in its sole discretion so agrees, may elect to furnish to the Company written notice, no more than 30 days and no less than 5 days in advance of a scheduled Vesting Date, of
his or her intent to satisfy the tax withholding requirement by remitting the full amount of the tax withholding to the Company on the scheduled Vesting Date. In the event that Employee provides such written notice and fails to satisfy the tax
withholding requirement by the Vesting date, the Company shall satisfy the tax withholding requirement pursuant to the first two sentences of this section. 
  
 7. Beneficiary Designation. Any distribution or delivery to be made to the Employee under this Agreement will, if the Employee is then deceased, be
made to the Employee’s designated beneficiary, or if no such beneficiary survives the Employee, the person or persons entitled to such distribution or delivery under the Employee’s will or, if the Employee should fail to make testamentary
disposition of such property, the executor of his or her estate. In order to be effective, a beneficiary designation must be made by the Employee in a form and manner acceptable to the Company. Any transferee must furnish the Company with
(a) written notice of his or her status as transferee, and (b) evidence satisfactory to the Company to establish the validity of the transfer and compliance with any laws or regulations pertaining to said transfer. 
  
 8. Conditions to Issuance of Shares. The Shares deliverable to the
Employee on the Vesting Date(s) may be either previously authorized but unissued Shares or issued Shares that have been reacquired by the Company. The Company shall not be required to issue any Shares hereunder so long as the Company 

 
reasonably anticipates that such issuance will violate Federal securities law or other applicable law; provided however, that in such event the Company shall
issue such Shares at the earliest possible date at which the Company reasonably anticipates that the issuance of the shares will not cause such violation. For purposes of the previous sentence, any issuance of Shares that would cause inclusion in
gross income or the application of any penalty provision or other provision of the Internal Revenue Code shall not be treated as a violation of applicable law. 
  

9. Rights as Stockholder. Neither the Employee nor any person claiming under or through the Employee will have any of the rights or privileges
of a stockholder of the Company in respect of any Stock Award unless and until Shares have been issued in accordance with paragraph 3, recorded on the records of the Company or its transfer agents or registrars, and delivered to the Employee. Except
as provided in paragraph 10, after such issuance, recordation, and delivery, the Employee will have all the rights of a stockholder of the Company with respect to voting such Shares and receipt of dividends and distributions on such Shares.

  
 10. Changes in Stock. In the event of any merger,
reorganization, consolidation, recapitalization, separation, liquidation, stock dividend, split-up, Share combination, or other change in the corporate structure of the Company affecting the Shares, the Committee shall adjust the Stock Awards
subject to the Award, in such manner as the Committee (in its sole discretion) shall determine to be appropriate. 
  
 11. Plan Governs. This Agreement is subject to all the terms and provisions of the Plan. In the event of a conflict between one or more provisions
of this Agreement and one or more provisions of the Plan, the provisions of the Plan will govern. Terms used in this Agreement that are not defined in this Agreement will have the meaning set forth in the Plan. 
  
 12. Committee Authority. The Committee will 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 or revoke any such rules (including, but not limited to, the determination
of whether or not any portion of the Stock Award has vested). All actions taken and all interpretations and determinations made by the Committee in good faith will be final and binding upon the Employee, the Company and all other interested persons.
No member of the Committee will be personally liable for any action, determination or interpretation made in good faith with respect to the Plan or this Agreement. 
  
 13. No Modification of At-Will Status. The Employee understands and agrees that this Agreement does not impact in any
way the right of the Company, or the Affiliate employing the Employee, as the case may be, to terminate or change the terms of the employment of the Employee at any time for any reason whatsoever, with or without good cause. The Employee understands
and agrees that his or her employment is “at-will” and that either the Company or the Employee may terminate the Employee’s employment at any time and for any reason. The Employee also understands and agrees that his or her
“at-will” status can only be changed by an express written contract signed by an authorized officer of the Company and the Employee. 
  
 14. Non-Transferability of Award. Except as otherwise herein provided, the Stock Awards herein granted and the rights and privileges conferred
hereby will not be transferred, assigned, pledged or hypothecated in any way (whether by operation of law or otherwise) and will not be subject to sale under execution, attachment or similar process. Upon any attempt to transfer, assign, pledge,
hypothecate or otherwise dispose of such Stock Award, or of any right or privilege conferred hereby, contrary to the provisions hereof, or upon any attempted sale under any execution, attachment or similar process upon the rights and privileges
conferred hereby, such Stock Award and the rights and privileges conferred hereby will immediately become null and void. 
  
 15. Binding Agreement. Subject to the limitation on the transferability of the Stock Award contained herein, this Agreement shall be binding upon
and inure to the benefit of the heirs, legatees, legal representatives, successors and assigns of the Employee and the Company. 
  
 16. Addresses for Notices. Any notice to be given to the Company under the terms of this Agreement will be addressed to the Company, in care of its
Legal Department, at The Gap, Inc., Two Folsom, San Francisco, California 94105, or at such other address as the Company may hereafter designate in writing. Any notice to be given to the Employee will be addressed to the Employee at the address set
forth on the records of the Company. Any such notice will be deemed to have been duly given if and when enclosed in a properly sealed envelope, addressed as aforesaid, and deposited, postage prepaid, in a United States post office. 

 17. Captions. Captions provided herein are for convenience only and are not to serve as a basis
for interpretation or construction of this Agreement. 
  
 18.
Agreement Severable. In the event that any provision in this Agreement will be held invalid or unenforceable, such provision will be severable from, and such invalidity or unenforceability will not be construed to have any effect on, the
remaining provisions of this Agreement. 
  
 19. Modifications
to the Agreement. This Agreement constitutes the entire understanding of the parties on the subjects covered. The Employee expressly warrants that he or she is not accepting this Agreement in reliance on any promises, representations, or
inducements other than those contained herein. Modifications to this Agreement or the Plan can be made only in an express written agreement executed by a duly authorized officer of the Company. 
  
 20. Amendment, Suspension or Termination of the Plan. By accepting
this Award, the Employee expressly warrants that he or she has received a right to an equity based award under the Plan, and has received, read, and understood a description of the Plan. The Employee understands that the Plan is discretionary in
nature and may be modified, suspended, or terminated by the Company at any time.

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