Document:

OPTION GRANT LETTER

(Non-Qualified Stock Option)

 

Grandparents.com, Inc.,
a Delaware corporation (the “Company”), hereby grants to the individual listed below (the “Grantee”)
an Option, subject to the terms, conditions and restrictions of the Grandparents.com, Inc. 2012 Stock Incentive Plan (the “Plan”)
and this Option Grant Letter, including the attached Appendix A (the Option Grant Letter and Appendix A are collectively
referred to as the “Grant Letter”). The capitalized terms not specifically defined in this Grant Letter shall
have the meanings specified in the Plan, a copy of which is attached hereto as Exhibit A.

 

	Name of Employee:	 	 
	 	 	 
	Number of Options:	 	 
	 	 	 
	Grant Date:	 	 
	 	 	 
	Option Price (per share):	$	 	 
	 	 	 
	Term/Expiration Date:	 	 

 

	Vesting Schedule:	Subject to the provisions of this Grant Letter: (a) thirty-three percent (33%) of the total number of shares subject to the Option vest on the one (1) year anniversary of the Grant Date, and (b) the remaining shares subject to the Option vest pro rata on a quarterly basis, in a series of eight (8) equal installments commencing on the fifteen (15) month anniversary of the Grant Date and continuing on each three (3) month anniversary thereof.
	 	 
	Special Provisions/Restrictions	 
	Not Stated in the Plan (if any):	None

 

By accepting this Grant
Letter as indicated below, the Grantee agrees to be bound by the terms and conditions of the Plan (as presently in effect or later
amended), the rules and regulations under the Plan adopted from time to time (if any) and this Grant Letter. The Grantee has reviewed
the Plan and this Grant Letter in their entirety, has had an opportunity to obtain the advice of counsel prior to executing this
Grant Letter and is familiar with the terms and provisions of the Plan and this Grant Letter. The Grantee hereby agrees to accept
as binding, conclusive and final all decisions or interpretations of the Plan Administrator upon any questions arising under the
Plan or this Grant Letter. The Grantee acknowledges and agrees that the exercise of any portion of this Option and the sales of
Common Stock will be subject to applicable laws and regulations and the Company’s policy regulating trading by Employees
(if any). The Grantee further agrees to notify the Company upon any change in his or her residence address.

 

    	 

    	 

    

 

	 	GRANDPARENTS.COM, INC.

 

	 	By:	 	 
	 	 	Name:
	 	 	Title:

 

	 	GRANTEE	 

 

	 	 	 
	 	(Signature)	 
	 	 	 
	 	(Print Name)	 
	 	 	 
	 	(Date of Execution)	 

 

    	2

    	 

    

 

APPENDIX A

TERMS AND CONDITIONS OF THE OPTION

 

ARTICLE I

GRANT OF OPTION

 

1.1      Grant of Option.
In consideration of your past and/or continued employment with the Company and for other good and valuable consideration, effective
as of the Grant Date set forth in this Grant Letter (the “Grant Date”), the Company grants to you an Option
to purchase any part or all of the number of shares of Common Stock set forth in this Grant Letter, upon the terms and conditions
set forth in the Plan and this Grant Letter.

 

1.2      Nature
of the Option. This Option shall be a Nonqualified Stock Option. This Option is not an Incentive Stock Option.

 

1.3      Option
Price. The Option Price of the shares of Common Stock subject to the Option shall be as set forth in this Grant Letter, without
commission or other charge.

 

ARTICLE II

PERIOD OF EXERCISABILITY

 

2.1      Vesting.
Subject to Sections 2.2, 2.3, 2.4, 5.3 and 5.4, any other relevant provisions of this Grant Letter, and your continued employment
by the Company or a Subsidiary, the Option shall become vested and exercisable in such amounts and at such times as are set forth
in this Grant Letter.

 

2.2      Forfeiture
and Cancelation. Subject to Section 2.5 of this Grant Letter, any portion of the Option that has not vested at or before the
date on which you have a Termination of Employment shall be canceled and forfeited, unless otherwise determined by the Plan Administrator.
“Termination of Employment” means the occurrence of any event if immediately thereafter you are no longer an
Employee of the Company or a Subsidiary. Such an event could include the disposition of a Subsidiary or business unit by the Company
or a Subsidiary. The following events shall not be deemed a Termination of Employment:

 

		1.	A transfer of you from the Company to a Subsidiary, or vice versa, or from one Subsidiary to another;
and

 

		2.	A leave of absence, duly authorized in writing by the Company or a Subsidiary, for military service
or sickness or for any other purpose approved by the Company or a Subsidiary including, but not limited to, a leave of absence
where your right to reemployment is guaranteed either by statute or by contract.

 

    	 

    	 

    

 

However, your failure to return to active service
for the Company or a Subsidiary at the end of an approved leave of absence shall be deemed a Termination of Employment. Although
you will be considered to have been continuously employed by the Company or a Subsidiary and not to have incurred a Termination
of Employment under this Article 2 during a leave of absence as set forth in Section 2.2(2) above, the Plan Administrator may specify
that such leave period shall not be counted in determining the period of employment for purposes of the vesting of this Option.
In such case, to the extent permissible by applicable law, the vesting dates for the unvested portions of the Option shall
be extended by the length of any such leave of absence.

 

2.3       Duration
of Exercisability. The vesting schedule installments of the Option provided for in the vesting schedule of this Grant Letter
are cumulative. Each such installment which becomes vested and exercisable in accordance with the vesting schedule shall remain
vested and exercisable until it ceases to be exercisable in accordance with Section 2.4 of this Grant Letter.

 

2.4        Expiration
of Option. The vested portion of the Option may not be exercised to any extent by anyone after the earliest occurrence of
any one of the following:

 

(a)           the Expiration
Date specified in this Grant Letter;

 

(b)     
    except as set forth in a written agreement with the Company, if you are terminated other than by
reason of your death, Disability or for Cause, the earlier of (i) the Expiration Date specified in this Grant Letter, or (ii)
the expiration of twelve (12) months following the date of your Termination of Employment;

 

(c)         if
you are terminated by reason of Disability, the earlier of (i) the Expiration Date specified in this Grant Letter, or (ii)
the expiration of twelve (12) months following the date of your Termination of Employment; or

 

(d)
        if you die while an Employee, the earlier of (i) the Expiration Date
specified in this Grant Letter, or (ii) the expiration of twelve (12) months following the date of your death; and

 

(e)         if you are terminated
for Cause, the first you are notified of such termination (unless the Plan Administrator determines otherwise). If your employment
or services with the Company are suspended pending an investigation of whether you shall be terminated for Cause, all of your rights
hereunder likewise shall be suspended during the period of investigation.

 

2.5       Consequence of
a Change of Control. If a Corporate Transaction occurs, the provisions of Section 11.2 of the Plan shall apply to this Award.

 

ARTICLE III

EXERCISE OF OPTION

 

3.1       Registration Statement. Except
as otherwise permitted by the Plan Administrator, you are not permitted to exercise your Option unless a registration statement
filed with the Securities and Exchange Commission (“SEC”) is effective with respect to the shares subject to
the Option at the time of exercise. 

 

    	2

    	 

    

 

3.2    
   Persons Eligible to Exercise Option. During your lifetime only you (or, in the event of your legal
incapacity or incompetency, your guardian or legal representative) may exercise the Option or any portion of the Option.
After your death, but prior to the time the Option ceases to be exercisable, any exercisable portion of the Option may be
exercised by your personal representative or by any person empowered to do so under your will or under the then applicable
laws of descent and distribution.

 

3.3       Partial Exercise.
Any exercisable portion of the Option or the entire Option, if then wholly exercisable, may be exercised at any time prior to the
time the Option (or that portion of the Option) ceases to be exercisable in accordance with Section 2.4 of this Grant Letter. An
exercise of the Option in part will not exhaust or terminate the Option as to any remaining shares of Common Stock subject to the
Option.

 

3.4      Manner of Exercise.
The Option, or any exercisable portion of such Option, may be exercised as set forth below, or as may otherwise be prescribed by
the Plan Administrator in the future:

 

      (a)   delivery to the Company’s
designated outsourced administrator of a notice of exercise on any business day, such notice to be delivered in the form attached
as Exhibit B, to reflect (i) the election to exercise some or all of the then-exercisable portion of the Option, and (ii)
the number of shares of Common Stock in respect of which the Option is being exercised; and

 

     
(b)   payment in full of the Option Price with respect to the shares of Common Stock for which the Option is being
exercised, together with the amount (if any) of federal and/or other taxes which the Company may, in its judgment, be
required to withhold with respect to the exercise of the Option (or the portion of the Option being exercised).

 

3.5      Form of Payment
Upon Exercise of Option. The Option Price applicable to the exercise of the Option (or any portion of the Option), together
with any withholding taxes (as described in Section 3.6 of this Grant Letter), shall be paid to the Company by any of the following
methods, at your election:

 

      (a) 
   in cash or cash equivalents acceptable to the Company.

 

      (b)   by a net exercise
of the Option, such that you shall be entitled to the number of shares of Common Stock in accordance with the following formula:

 

   X  =       Y(A-B)  

   
                 A

 

	where:	X	=	the number of shares of Common Stock to be issued to you*
	 	Y	=	the number of shares of Common Stock with respect to which the Option is to be exercised, as designated in the notice of exercise
	 	A	=	the Fair Market Value of the Common Stock on the date of exercise
	 	B	=	the Option Price

 

 

    	3

    	 

    
 

		*	The actual number of shares of Common Stock to be issued
will be reduced by the amount of any withholding taxes with respect to the exercise of the Option  (with any shares held
back to cover payment of such taxes being valued at the Fair Market Value on the date of exercise), if arrangements are not made
to pay such taxes in cash or otherwise outside of the net exercise of the Option.

 

Any fractional amount resulting from application
of this subsection shall be settled in cash equal to such fraction multiplied by the Fair Market Value of a share of Common Stock
on the date of exercise.

 

            (c)         by any other
method approved or accepted by the Plan Administrator in its sole discretion, subject to such rules and regulations as the Plan
Administrator may establish.

 

In the event the Option
(or any portion thereof) is exercised by any person or persons other than you, the Company may require appropriate proof of the
right of such person(s) to exercise the Option.

 

No Common Stock will be
issued pursuant to the exercise of an Option unless such issuance and such exercise have complied with all relevant provisions
of law and requirements of any stock exchange upon which the Common Stock may then be listed. As a condition to the exercise of
the Option, the Company may require you to make any representation or warranty to the Company as may be required under any applicable
law or regulation.

 

3.6      Tax Withholding.
The Company will assess its requirements regarding federal, state and local income taxes, FICA taxes, and other applicable taxes
in connection with the Option. The Company’s obligation to issue shares of Common Stock upon exercise of any portion of the
Option shall be conditioned upon your payment, or making provision satisfactory to the Company for the payment, of any taxes which
the Company is obligated to withhold or collect with respect to such exercise or otherwise respect to the Option. The Company will
withhold any such taxes as required by law. Regardless of the Company’s actions in this regard, you acknowledge and agree
that the ultimate liability for any such taxes is your responsibility.

 

ARTICLE IV

RESTRICTIONS ON TRANSFER OF THE OPTION

 

4.1     Restrictions
on Transfer. The Option may not be assigned or transferred by the Grantee other than by will or by the applicable laws of descent
and distribution, and, during the Grantee’s lifetime, such Awards may be exercised only by the Grantee. Notwithstanding the
foregoing, and to the extent permitted by Section 422 of the Internal Revenue Code of 1986, as amended from time to time, the Plan
Administrator, in its sole discretion, may permit such assignment, transfer and exercisability and may permit the Grantee to designate
a beneficiary who may exercise the Award or receive compensation under the Award after the Grantee’s death; provided, however,
that any Award so assigned or transferred shall be subject to all the same terms and conditions contained in this Grant Letter.

 

    	4

    	 

    

 

ARTICLE V

ACKNOWLEDGEMENTS AND UNDERTAKINGS BY GRANTEE

 

5.1        No
Acquired Rights. You acknowledge and agree that:

 

(a)      The grant of
this Award is voluntary and occasional and does not create any contractual or other right to receive future grants of Awards or
benefits in lieu of any Awards, even if Awards have been granted repeatedly in the past and regardless of any reasonable notice
period mandated under local law;

 

(b)      This Award
is not part of normal or expected compensation or salary for any purposes, including, but not limited to, calculating
termination, severance, resignation, redundancy, end-of-service payments, bonuses, long-term service awards, pension,
retirement benefits or similar payments;

 

(c)       The future value of the shares of
Common Stock that may be purchased by exercise of this Award is unknown and cannot be predicted;

 

(d)       No claim or
entitlement to compensation or damages arises from the expiration or termination of this Award, or the diminution in value of
this Award (or any shares of Common Stock issued upon exercise of this Award), and you irrevocably release the Company from
any such claim; and

 

(e)   
  Participation in the Plan shall not create a right to further employment with the Company or any Subsidiary and shall not
interfere with the ability of the Company to terminate the employment relationship with you at any time, with or without
cause.

 

5.2         Conformity
to Securities Laws.

 

 (a)     You acknowledge that
the Plan and this Grant Letter 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 under such Acts by the SEC and state securities laws and regulations.
Notwithstanding anything in this Grant Letter to the contrary, the Plan shall be administered, and this Award is granted and may
be exercised, only in such a manner as to conform to such laws, rules and regulations. To the extent permitted by applicable law,
the Plan and the Grant Letter shall be deemed amended to the extent necessary to conform to such laws, rules and regulations.

 

(b)     The Company intends
to file (or may already have on file) an effective registration statement with the SEC with respect to the shares of Common Stock
underlying the Option granted under the terms of this Award. The Company intends to maintain this registration statement but has
no obligation to do so. If the registration statement ceases to be effective, you will not be able to transfer or sell shares issued
upon exercise of the Option unless an exemption from registration under applicable securities laws is available. You agree that
any resale by you of the shares of Common Stock issued under this Award will comply in all respects with the requirements of applicable
securities laws, rules and regulations (including, without limitation, the provisions of the Securities Act, the Exchange Act,
and the respective rules and regulations promulgated under such Acts) and any other law, rule or regulation applicable thereto.
The Company will not be obligated either to issue the shares or permit the resale of any shares if such issuance or resale would
violate any such laws, rules or regulations.

    	5

    	 

    

 

 

5.3      Compliance with
Company Insider Trading and Other Applicable Policies. You agree to be bound by the Company’s policies regarding the
purchase and transfer of the Company’s securities and understand that there may be certain times during the year in which
you will be prohibited from selling, transferring, pledging, donating, assigning, hypothecating or encumbering any shares of Common
Stock received upon exercise of this Award.

 

5.4       Potential Termination
of Award; Forfeiture of Any Gain Realized.

 

You acknowledge that your
continued employment and the grant of the Options herein is sufficient consideration for this Grant Letter, including, without
limitation, the restrictions imposed upon you by this Section 5.4.

 

		(a)	You acknowledge that:

 

    (i)
      the Company may in its sole and absolute discretion annul this Award (including any vested portion of this Award not yet
exercised) if you cease to be an Employee as a result of a termination for Cause and such determination shall be made by the
Company and shall be conclusive and binding on all interested persons; and

 

   (ii)    the Company
retains the right to cause a forfeiture of the gain realized by you in connection with this Award, including its exercise, on account
of actions you take that are in violation of or in conflict with the provisions of this Grant Letter, or any (i) employment agreement,
(ii) non-competition agreement, (iii) agreement prohibiting solicitation of Employees or clients of the Company or any Subsidiary,
or (iv) any confidentiality obligation with respect to the Company or any Subsidiary.

 

(b)      In addition, in
accordance with the Plan, if (A) the Company is required to prepare an accounting restatement due to the material noncompliance
of the Company, as a result of misconduct, with any financial reporting requirement under applicable securities laws, and (B) you
are either an individual who is subject to the automatic forfeiture provisions of Section 304 of the Sarbanes-Oxley Act of 2002
or are determined by the Plan Administrator to have knowingly engaged in or failed to prevent the misconduct or have been grossly
negligent in engaging in or failing to prevent the misconduct, you shall be obligated to reimburse the Company for (i) any equity-based
compensation you have received from the Company during the 12-month period following the first public issuance or filing with the
SEC of the financial document(s) embodying the financial reporting requirement, and (ii) any profits realized from the sale of
securities of the Company during that 12-month period. Any determination by the Plan Administrator with respect to the foregoing
shall be final, conclusive and binding on all interested persons.

 

(c)       (i)     Forfeiture Events.
 A “Forfeiture Event” shall have occurred if you are terminated for Cause.

 

    	6

    	 

    

 

(ii)  Forfeiture.
Upon a Forfeiture Event, the following forfeitures and related actions as determined by the Plan Administrator will occur:

 

1.
    Any portion of the Option (whether or not vested) that has not been exercised as of the date of such determination shall be
immediately canceled and forfeited;

 

2.
    You shall automatically forfeit any rights you may have with respect to the Option as of the date of such determination;
and/or

 

3.
    With respect to shares of Common Stock received upon any exercise(s) of the Option, you shall be obligated to pay the Company
the greater of (a) any amounts realized from the sale of any or part of such shares, and (b) the difference, if a positive
number, between the aggregate Exercise Price with respect to such shares and the aggregate Fair Market Value of such shares
on the date of any disposition or transfer thereof.

 

(iii)  Additional Remedies. You
acknowledge that breach by you of this Grant Letter would cause irreparable harm to the Company and Subsidiaries and that in the
event of such breach, the Company shall have, in addition to monetary damages and other remedies at law, the right to an injunction,
specific performance and other equitable relief (without the need to post a bond) to prevent violations of your obligations hereunder.

 

ARTICLE VI

LIMITATIONS APPLICABLE TO EXCHANGE ACT SECTION
16 PERSONS

 

6.1      Limitations Applicable
to Exchange Act Section 16 Persons. Notwithstanding any provision of the Plan or any other provision of this Grant Letter to
the contrary, if you are subject to Section 16 of the Exchange Act, the Plan, this Grant Letter and the Option 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 under the Exchange Act) that are requirements for the application of such exemptive rule. To the extent permitted
by applicable law, this Grant Letter shall be deemed amended to the extent necessary to conform to such applicable exemptive rule.

 

ARTICLE VII

MISCELLANEOUS

 

7.1     Designation of Beneficiary.
You may, from time to time, designate any beneficiary or beneficiaries to whom any benefit under this Grant Letter is to be paid
in case of your death prior to the receipt of all such benefits. Each designation shall revoke all prior designations, shall be
in a form prescribed by the Plan Administrator or its designee, and will be effective only when filed with the Plan Administrator
or its designee. In the absence of any such designation, any benefits remaining unpaid at the time of your death shall be paid
to your estate.

 

    	7

    	 

    

 

7.2    Notices.
Except as may be otherwise provided in the Plan, any written notices provided for in the Plan or this Grant Letter shall be in
writing and shall be deemed sufficiently given if either hand-delivered or if sent by fax or overnight courier, or by postage-paid
first-class mail. Notices sent by mail shall be deemed received three (3) business days after mailed but in no event later than
the date of actual receipt. Notice may also be provided by electronic submission, if and to the extent permitted by the Plan Administrator.
Notices shall be directed, if to you, at your address indicated by the Company’s records, or, if to the Company, at the Company’s
principal office, attention: Corporate Secretary.

 

7.3       Data
Privacy. By entering into this Grant Letter, you: (a) authorize the Company and any agent of the Company administering the
Plan or providing Plan recordkeeping services to disclose to the Company or any Subsidiary such information and data as the Company
or any such Subsidiary shall request in order to facilitate the grant of options and the administration of the Plan; (b) waive
any data privacy rights you may have with respect to such information; and (c) authorize the Company to store and transmit such
information in electronic form.

 

7.4     Waiver. The waiver by the
Company or a Subsidiary of any provision of this Grant Letter shall not operate as or be construed to be a subsequent waiver of
the same provision or waiver of any other provision hereof.

 

7.5     Severability.
The provisions of this Grant Letter are severable and if any one or more provisions may be determined to be illegal or otherwise
unenforceable, in whole or in part, the remaining provisions shall nevertheless be binding and enforceable.

 

7.6    Counterparts;
Further Instruments. This Grant Letter may be executed in two or more counterparts, each of which shall be deemed an original,
but all of which together shall constitute one and the same instrument. The parties to this Grant Letter agree to execute such
further instruments and to take such further action as may be reasonably necessary to carry out the purposes and intent of this
Grant Letter.

 

7.7    Amendment,
Suspension and Termination. To the extent permitted by the Plan, this Grant Letter may be wholly or partially amended or
otherwise modified, suspended or terminated at any time or from time to time by the Plan Administrator, provided, that,
except as may otherwise be provided in the Plan, no amendment, modification, suspension or termination of this Grant Letter
shall adversely affect the Option in any material way without your prior written consent.

 

7.8    Entire Agreement.
The Plan and this Grant Letter constitute the entire agreement of the parties with respect to the subject matter hereof and supersede
in their entirety all prior undertakings and agreements of the Company and you with respect to the subject matter hereof. In the
event of any contradiction, distinction or difference between this Grant Letter and the terms of the Plan, the terms of the Plan
will control.

 

7.9     Governing Law.
This Grant Letter shall be administered, interpreted and enforced under the laws of the State of Delaware, without regard to the
conflicts of law principles of the State of Delaware.

 

7.10    Captions.
Captions provided in this Grant Letter are for convenience only and are not to serve as a basis for interpretation or construction
of this Grant Letter.

 

    	8

    	 

    

 

7.11  Successors and
Assigns. The Company may assign any of its rights under this Grant Letter to single or multiple assignees, and this Grant Letter
shall inure to the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer set forth in the
Plan and/or this Grant Letter, this Grant Letter shall be binding upon you and your heirs, executors, administrators, successors
and assigns.

 

    	9

    	 

    

 

EXHIBIT A

 

GRANDPARENTS.COM, INC.

2012 STOCK INCENTIVE PLAN

 

    	 

    	 

    

 

EXHIBIT B

 

NOTICE OF EXERCISE OF STOCK OPTION

 

Grandparents.com, Inc.

589 Eight Avenue, Sixth Floor

New York, New York 10018

Attn: Secretary

 

		1.	Notice of Exercise. The undersigned (“Purchaser”) hereby notifies Grandparents.com,
Inc., a Delaware corporation (the “Company”), of his / her election to exercise his / her option to purchase
_____________ shares of the Company’s common stock, $0.01 par value (the “Common Stock”), pursuant to
that Option Grant Letter (the “Agreement”) between the undersigned and the Company dated _______________, 20__.
	 	 	 

		2.	Payment of Exercise Price. Accompanying this Notice is (a) a certified or a cashier’s
check (or other check acceptable to the Company) in the amount of $__________ payable to the Company, and/or (b) such any other
form of payment, together with appropriate documentation, which is acceptable to the Company or as otherwise specified in the Agreement.
	 	 	 

		3.	Payment of Withholdings Taxes. Purchaser acknowledges that he / she is responsible for paying
or providing for any applicable federal or state tax withholdings as a result of this Option exercise.
	 	 	 

		(a)	Accompanying this Notice is my check in the amount of $__________, in payment of federal and state
income withholding and employment taxes applicable to this exercise. The amount of such payment is based on advice received from
appropriate officials of the Company responsible for the administration of its payroll and employment tax obligations.
	 	 	 

		(b)	Alternatively, or in addition, to avoid earnings charges or other adverse consequences to the Company
under applicable accounting or tax rules or regulations, in full or partial payment of such taxes: (i) I deliver herewith an additional
___________ shares of the Common Stock presently owned by me, having an aggregate fair market value as of the date hereof of $__________;
or (ii) I hereby authorize the Company to withhold, from the shares of Common Stock otherwise issuable to me pursuant to this exercise,
__________ such shares having an aggregate fair market value at the date hereof of $____________.

 

    	2

    	 

    
 

		4.	Title to Shares. The exact spelling of the name(s) under which Purchaser desires to take
title to the shares of Common Stock is:                                     .
Purchaser desires to take title to the shares of Common Stock as follows:

 

	 	 ̈	Individual, as separate property	 
	 	 ̈	Husband and wife, as community property	 
	 	 ̈	Joint Tenants	 
	 	 ̈	Alone or with spouse as trustee(s) of the following trust (including date):	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 ̈	Other; please specify:	 	 
	 	 	 	 

 

		5.	Tax Consequences. PURCHASER UNDERSTANDS THAT THERE MAY BE ADVERSE FEDERAL OR STATE TAX CONSEQUENCES
AS A RESULT OF PURCHASER’S PURCHASE OR DISPOSITION OF THE SHARES OF COMMON STOCK. PURCHASER ACKNOWLEDGES THAT SHE / HE HAS
BEEN ADVISED TO CONSULT WITH HER / HIS TAX ADVISER IN CONNECTION WITH THE PURCHASE OR DISPOSITION OF THE SHARES OF COMMON STOCK
AND THAT PURCHASER HAS HAD AN OPPORTUNITY TO DO SO. PURCHASER IS NOT RELYING ON THE COMPANY FOR ANY TAX ADVICE.
	 	 	 

		6.	Compliance with Laws and Regulations. Purchaser acknowledges that the issuance and transfer
of the shares of Common Stock will be subject to and conditioned upon compliance by the Company and Purchaser with all applicable
state and federal laws and regulations and with all applicable requirements of any stock exchange or automated quotation system
on which the Company’s Common Stock may be listed or quoted at the time of such issuance or transfer.
	 	 	 

		7.	Governing Law. This Agreement shall be governed by and construed in accordance with the
internal laws of the State of Delaware, without regard to conflicts of laws.

 

EXECUTED as of the ____ day
of _____________, 20__.

 

	 	 
	 	(Signature)
	 	 
	 	 
	 	(Print name)
	 	 
	 	SSN:	 
	 	 
	 	Address:	 
	 	 
	 	 

 

    	3a50175005ex4-1e.htm

Exhibit 4.1E

 

SEVENTH SUPPLEMENTAL INDENTURE

(Senior Notes due 2016)

THIS SEVENTH SUPPLEMENTAL INDENTURE (this “Seventh Supplemental Indenture”) is dated as of June 10, 2011, among OMEGA HEALTHCARE INVESTORS, INC., a Maryland corporation (the “Issuer”), each of the SUBSIDIARY GUARANTORS listed on Schedule I hereto (collectively, the “Subsidiary Guarantors”), OHI Asset HUD WO, LLC and OHI Asset (MD), LLC, each a Delaware limited liability company (the “New Subsidiaries”), and U.S. BANK NATIONAL ASSOCIATION, a national banking association organized and existing under the laws of the United States of America, as trustee (the “Trustee”).

W I T N E S S E T H :

WHEREAS, the Issuer and the Subsidiary Guarantors have heretofore executed and delivered to the Trustee an Indenture, dated as of December 30, 2005 (as amended by the First Supplemental Indenture dated as of January 7, 2010, the Second Supplemental Indenture dated as of January 29, 2010, the Third Supplemental Indenture dated as of February 2, 1010, the Fourth Supplemental Indenture dated as of June 23, 2010, the Fifth Supplemental Indenture dated as of September 2, 2010, and the Sixth Supplemental Indenture dated as of January 13, 2011, the “Indenture”), providing for the issuance of the Issuer’s 7% Senior Notes due 2016 (the “Notes”);

WHEREAS, Section 9.01 of the Indenture authorizes the Issuer, the Subsidiary Guarantors and the Trustee, together, to amend or supplement the Indenture, without notice to or consent of any Holder of the Notes, for the purpose of making any change that would not materially adversely affect the rights of any Holder of the Notes;

WHEREAS, the Issuer has recently created the New Subsidiaries, which are required to become Subsidiary Guarantors pursuant to Section 4.14 of the Indenture;

WHEREAS, in Section 1.01 of the Indenture, the term “Subsidiary Guarantors” is defined to include all Persons that become a Subsidiary Guarantor by the terms of the Indenture after the Closing Date; and

WHEREAS, Section 10.01 of the Indenture provides that each Subsidiary Guarantor shall be a guarantor of the Issuer’s obligations under the Notes, subject to the terms and conditions described in the Indenture.

NOW, THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt of which is hereby acknowledged, the Issuer, the Subsidiary Guarantors, the New Subsidiaries and the Trustee mutually covenant and agree for the equal and ratable benefit of the Holders of the Notes as follows:

	
  

	
1.

	
CAPITALIZED TERMS.  Capitalized terms used herein without definition shall have the meanings assigned to them in the Indenture.

 

  

  

  

 

	
  

	
2.

	
AMENDMENT TO GUARANTEE.  The New Subsidiaries hereby agree, jointly and severally with all other Subsidiary Guarantors, to guarantee the Issuer’s obligations under the Notes on the terms and subject to the conditions set forth in the Indenture, and to be bound by, and to receive the benefit of, all other applicable provisions of the Indenture as Subsidiary Guarantors.  Such guarantees shall be evidenced by the New Subsidiaries’ execution of Subsidiary Guarantees, the form of which is attached as Exhibit E to the Indenture, and shall be effective as of the date hereof.

	
  

	
3.

	
NO RECOURSE AGAINST OTHERS.  No past, present or future director, officer, employee, partner, affiliate, beneficiary or stockholder of the New Subsidiaries, as such, shall have any liability for any obligations of the Issuer or any Subsidiary Guarantor under the Notes, any Guarantees, the Indenture or this Seventh Supplemental Indenture or for any claim based on, in respect of, or by reason of, such obligations or their creation.  Each Holder of the Notes, by accepting and holding a Note, waives and releases all such liability.  Such waiver and release are part of the consideration for the issuance of the Notes.

	
  

	
4.

	
NEW YORK LAW TO GOVERN.  The laws of the State of New York shall govern and be used to construe this Seventh Supplemental Indenture.

	
  

	
5.

	
COUNTERPARTS.  The parties may sign any number of copies of this Seventh Supplemental Indenture.  Each signed copy shall be an original, but all of them together shall represent the same agreement.

	
  

	
6.

	
EFFECT OF HEADINGS.  The Section headings herein are for convenience only and shall not affect the construction hereof.

	
  

	
7.

	
THE TRUSTEE.  The Trustee shall not be responsible in any manner whatsoever for or in respect of the validity or sufficiency of this Seventh Supplemental Indenture or for or in respect of the recitals contained herein, all of which recitals are made solely by the Issuer, the Subsidiary Guarantors and the New Subsidiaries.

[Remainder of Page Intentionally Left Blank]

 

  

  

  

 

IN WITNESS WHEREOF, the parties hereto have caused this Seventh Supplemental Indenture to be duly executed and attested, all as of the date first above written.

 

 

 

	 	OMEGA HEALTHCARE INVESTORS, INC.
	 	 
	 	 
	 	By: /s/ Robert O. Stephenson  
	 	Name: Robert O. Stephenson
	 	Title: Chief Financial Officer and Treasurer
	 	 
	 	On behalf of each Subsidiary Guarantor, its sole
	 	member, general partner or trustee, named on
	 	the attached Schedule I
	 	 
	 	 
	 	By: /s/ Robert O. Stephenson
	 	Name: Robert O. Stephenson
	 	Title: Chief Financial Officer and Treasurer
	 	 
	 	On behalf of each of the New Subsidiaries, its sole member
	 	 
	 	 
	 	By: /s/ Robert O. Stephenson
	 	Name: Robert O. Stephenson
	 	Title: Chief Financial Officer and Treasurer
	 	 
	 	U.S. BANK NATIONAL ASSOCIATION,
	 	as Trustee
	 	 
	 	 
	 	By: /s/ Paul L. Henderson
	 	Name: Paul L. Henderson  
	 	Title: Assistant Vice President

 

  

  

  

                                                                                                                             

Schedule I

SUBSIDIARY GUARANTORS

Arizona Lessor - Infinia, Inc.

Baldwin Health Center, Inc.

Bayside Alabama Healthcare Second, Inc.

Bayside Arizona Healthcare Associates, Inc.

Bayside Arizona Healthcare Second, Inc.

Bayside Colorado Healthcare Associates, Inc.

Bayside Colorado Healthcare Second, Inc.

Bayside Indiana Healthcare Associates, Inc.

Bayside Street II, Inc.

Bayside Street, Inc.

Canton Health Care Land, Inc.

Carnegie Gardens LLC

Center Healthcare Associates, Inc.

Cherry Street - Skilled Nursing, Inc.

Colonial Gardens, LLC

Colorado Lessor - Conifer, Inc.

Copley Health Center, Inc.

CSE Anchorage LLC

CSE Blountville LLC

CSE Bolivar LLC

CSE Camden LLC

CSE Centennial Village

CSE Corpus North LLC

CSE Crane LLC

CSE Denver Iliff LLC

CSE Fairhaven LLC

CSE Huntingdon LLC

CSE Jacinto City LLC

CSE Jefferson City LLC

CSE Kerrville LLC

CSE Marianna Holdings LLC

CSE Memphis LLC

CSE Pennsylvania Holdings

CSE Ripley LLC

CSE Ripon LLC

CSE Spring Branch LLC

CSE Texarkana LLC

CSE The Village LLC

CSE West Point LLC

CSE Whitehouse LLC

CSE Williamsport LLC

 

  

  

  

 

Dallas - Skilled Nursing, Inc.

Delta Investors I, LLC

Delta Investors II, LLC

Desert Lane, LLC

Dixon Health Care Center, Inc.

Florida Lessor - Crystal Springs, Inc.

Florida Lessor - Emerald, Inc.

Florida Lessor - Lakeland, Inc.

Florida Lessor - Meadowview, Inc.

Florida Real Estate Company, LLC

Georgia Lessor - Bonterra/Parkview, Inc.

Greenbough, LLC

Hanover House, Inc.

Heritage Texarkana Healthcare Associates, Inc.

House of Hanover, Ltd.

Hutton I Land, Inc.

Hutton II Land, Inc.

Hutton III Land, Inc.

Indiana Lessor - Jeffersonville, Inc.

Indiana Lessor - Wellington Manor, Inc.

Jefferson Clark, Inc.

LAD I Real Estate Company, LLC

Lake Park - Skilled Nursing, Inc.

Leatherman 90-1, Inc.

Leatherman Partnership 89-1, Inc.

Leatherman Partnership 89-2, Inc.

Long Term Care - Michigan, Inc.

Long Term Care - North Carolina, Inc.

Long Term Care Associates - Illinois, Inc.

Long Term Care Associates - Indiana, Inc.

Long Term Care Associates - Texas, Inc.

Meridian Arms Land, Inc.

North Las Vegas LLC

NRS Ventures, L.L.C.

OHI (Connecticut), Inc.

OHI (Florida), Inc.

OHI (Illinois), Inc.

OHI (Indiana), Inc.

OHI (Iowa), Inc.

OHI (Kansas), Inc.

OHI Asset (CA), LLC

OHI Asset (CT) Lender, LLC

OHI Asset (FL), LLC

OHI Asset (ID), LLC

OHI Asset (IN), LLC

OHI Asset (LA), LLC

 

  

  

  

 

OHI Asset (MI), LLC

OHI Asset (MI/NC), LLC

OHI Asset (MO), LLC

OHI Asset (OH) Lender, LLC

OHI Asset (OH) New Philadelphia, LLC

OHI Asset (OH), LLC

OHI Asset (PA) Trust

OHI Asset (PA), LLC (f/k/a OHI Asset (FL) Tarpon Springs, Pinellas Park & Gainesville, LLC)

OHI Asset (SMS) Lender, Inc. (f/k/a Florida Lessor – West Palm Beach and Southpoint, Inc.)

OHI Asset (TX), LLC

OHI Asset CSE-E, LLC

OHI Asset CSE-U, LLC

OHI Asset Essex (OH), LLC (f/k/a Omega Acquisition Facility I, LLC)

OHI Asset II (CA), LLC

OHI Asset II (PA) Trust

OHI Asset III (PA) Trust

OHI Asset, LLC

OHI of Kentucky, Inc.

OHI of Texas, Inc.

OHI Sunshine, Inc.

OHIMA, Inc.

Omega (Kansas), Inc.

Omega TRS I, Inc.

Orange Village Care Center, Inc.

OS Leasing Company

Panama City Nursing Center LLC

Parkview - Skilled Nursing, Inc.

Pavillion North Partners, Inc.

Pavillion North, LLP

Pavillion Nursing Center North, Inc.

Pine Texarkana Healthcare Associates, Inc.

Reunion Texarkana Healthcare Associates, Inc.

San Augustine Healthcare Associates, Inc.

Skilled Nursing - Gaston, Inc.

Skilled Nursing - Herrin, Inc.

Skilled Nursing - Hicksville, Inc.

Skilled Nursing - Paris, Inc.

Skyler Maitland LLC

South Athens Healthcare Associates, Inc.

St. Mary’s Properties, Inc.

Sterling Acquisition Corp.

Sterling Acquisition Corp. II

Suwanee, LLC

Texas Lessor - Stonegate GP, Inc.

Texas Lessor - Stonegate Limited, Inc.

Texas Lessor - Stonegate, L.P.

 

  

  

  

 

Texas Lessor - Treemont, Inc.

The Suburban Pavilion, Inc.

Washington Lessor - Silverdale, Inc.

Waxahachie Healthcare Associates, Inc.

West Athens Healthcare Associates, Inc.

Wilcare, LLC

OHI Asset (CO), LLC

OHI Asset (IL), LLC

OHI Asset IV (PA) Silver Lake Trust

OHI Asset II (FL), LLC

CSE Albany LLC

CSE Amarillo LLC

CSE Arden L.P.

CSE Augusta LLC

CSE Bedford LLC

CSE Cambridge LLC

CSE Cambridge Realty LLC

CSE Canton LLC

CSE Cedar Rapids LLC

CSE Chelmsford LLC

CSE Chesterton LLC

CSE Claremont LLC

CSE Denver LLC

CSE Douglas LLC

CSE Dumas LLC

CSE Elkton LLC

CSE Elkton Realty LLC

CSE Fort Wayne LLC

CSE Frankston LLC

CSE Georgetown LLC

CSE Green Bay LLC

CSE Hilliard LLC

CSE Huntsville LLC

CSE Indianapolis-Continental LLC

CSE Indianapolis-Greenbriar LLC

CSE Jefferson-Hillcrest Center LLC

CSE Jefferson-Jennings House LLC

CSE King L.P.

CSE Kingsport LLC

CSE Knightdale L.P.

CSE Lake City LLC

CSE Lake Worth LLC

CSE Lakewood LLC

CSE Las Vegas LLC

CSE Lawrenceburg LLC

CSE Lenoir L.P.

 

  

  

  

 

CSE Lexington Park LLC

CSE Lexington Park Realty LLC

CSE Ligonier LLC

CSE Live Oak LLC

CSE Logansport LLC

CSE Lowell LLC

CSE Mobile LLC

CSE Moore LLC

CSE North Carolina Holdings I LLC

CSE North Carolina Holdings II LLC

CSE Omro LLC

CSE Orange Park LLC

CSE Orlando-Pinar Terrace Manor LLC

CSE Orlando-Terra Vista Rehab LLC

CSE Piggott LLC

CSE Pilot Point LLC

CSE Ponca City LLC

CSE Port St. Lucie LLC

CSE Richmond LLC

CSE Safford LLC

CSE Salina LLC

CSE Seminole LLC

CSE Shawnee LLC

CSE Stillwater LLC

CSE Taylorsville LLC

CSE Texas City LLC

CSE Upland LLC

CSE Walnut Cove L.P.

CSE Winter Haven LLC

CSE Woodfin L.P.

CSE Yorktown LLC

CSE Casablanca Holdings LLC

CSE Casablanca Holdings II LLC

OHI Asset CSB LLC

OHI Asset (FL) Lender, LLC

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