Document:

exv10w1

Exhibit 10.1

EXECUTION VERSION

BIOMED REALTY, L.P.

3.75% Exchangeable Senior Notes Due 2030

Registration Rights Agreement

January 11, 2010

Deutsche Bank Securities Inc.

Credit Suisse Securities (USA) LLC

Morgan Stanley & Co. Incorporated

UBS Securities LLC

As Representatives of the Several Initial Purchasers

c/o Deutsche Bank Securities Inc.

60 Wall Street, 4th Floor

New York, New York 10005

Ladies and Gentlemen:

          BioMed Realty, L.P., a limited partnership organized under the laws of the State of Maryland
(the “Operating Partnership”), proposes to issue and sell to certain purchasers (the “Initial
Purchasers”), for whom you (the “Representatives”) are acting as representatives, its 3.75%
Exchangeable Senior Notes Due 2030 (the “Notes”), upon the terms set forth in the Purchase
Agreement by and among the Operating Partnership, BioMed Realty Trust, Inc., a corporation
organized under the laws of the State of Maryland (the “Company”), and the Representatives, dated
January 5, 2010 (the “Purchase Agreement”), relating to the initial placement (the “Initial
Placement”) of the Notes. The Notes will be exchangeable for shares of common stock, $0.01 par
value (the “Common Stock”), of the Company in accordance with the terms of the Notes and the
Indenture (as defined below). The Company will fully and unconditionally guarantee the payment by
the Operating Partnership of principal of and interest on the Notes. To induce the Initial
Purchasers to enter into the Purchase Agreement and to satisfy obligations thereunder, the holders
of the Notes will have the benefit of this registration rights agreement (this “Agreement”) by and
among the Operating Partnership, the Company and the Initial Purchasers whereby the Company agrees
with you for your benefit and the benefit of the holders from time to time of the Notes (including
the Initial Purchasers) (each a “Holder” and, collectively, the “Holders”), as follows:

          1. Definitions. Capitalized terms used herein without definition shall have their
respective meanings set forth in the Purchase Agreement. As used in this Agreement, the following
capitalized defined terms shall have the following meanings:

          “Act” shall mean the Securities Act of 1933, as amended, and the rules and regulations of the
Commission promulgated thereunder.

          “Affiliate” shall have the meaning specified in Rule 405 under the Act and the terms
“controlling” and “controlled” shall have meanings correlative thereto.

          “Agreement” shall have the meaning set forth in the preamble hereto.

          “Automatic Shelf Registration Statement” shall mean a Registration Statement filed by a
Well-Known Seasoned Issuer which shall become effective upon filing thereof pursuant to General
Instruction I.D for Form S-3.

 

 

          “Broker-Dealer” shall mean any broker or dealer registered as such under the Exchange Act.

          “Business Day” shall mean any day other than a Saturday, a Sunday or a legal holiday or a day
on which banking institutions or trust companies are authorized or obligated by law to close in New
York City.

          “Closing Date” shall mean the date of the first issuance of the Notes.

          “Common Stock” shall have the meaning set forth in the preamble.

          “Commission” shall mean the Securities and Exchange Commission.

          “Company” shall have the meaning set forth in the preamble hereto.

          “Deferral Period” shall have the meaning indicated in Section 3(i) hereof.

          “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended, and the rules and
regulations of the Commission promulgated thereunder.

          “Exchange Price” shall have the meaning specified in the Indenture.

          “Final Memorandum” shall mean the offering memorandum, dated January 5, 2010, relating to the
Notes, including any and all annexes thereto and any information incorporated by reference therein
as of such date.

          “FINRA Rules” shall mean the rules and regulations promulgated by The Financial Industry
Regulatory Authority, Inc.

          “Holder” shall have the meaning set forth in the preamble hereto.

          “Indenture” shall mean the Indenture relating to the Notes, dated as of January 11, 2010, by
and among the Operating Partnership, the Company, as guarantor, and U.S. Bank National Association
as trustee, as the same may be amended from time to time in accordance with the terms thereof.

          “Initial Placement” shall have the meaning set forth in the preamble hereto.

          “Initial Purchasers” shall have the meaning set forth in the preamble hereto.

          “Losses” shall have the meaning set forth in Section 5(d) hereof.

          “Majority Holders” shall mean, on any date, Holders of a majority of the Common Stock
registered under the Shelf Registration Statement.

          “Managing Underwriters” shall mean the investment banker or investment bankers and manager or
managers that administer an underwritten offering, if any, conducted pursuant to Section 6 hereof.

          “Notes” shall have the meaning set forth in the preamble.

          “Notice and Questionnaire” shall mean a written notice delivered to the Company substantially
in the form attached as Annex A to the Final Memorandum.

          “Notice Holder” shall mean, on any date, any Holder of Registrable Securities that has
delivered a properly completed Notice and Questionnaire to the Company on or prior to such date.

          “Operating Partnership” shall have the meaning set forth in the preamble hereto.

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          “Prospectus” shall mean a prospectus included in the Shelf Registration Statement (including,
without limitation, a prospectus that discloses information previously omitted from a prospectus
filed as part of an effective registration statement in reliance upon Rule 430A or Rule 430B under
the Act), as amended or supplemented by any prospectus supplement, with respect to the terms of the
offering of any portion of the Common Stock covered by the Shelf Registration Statement, and all
amendments and supplements thereto, including any and all exhibits thereto and any information
incorporated by reference therein.

          “Purchase Agreement” shall have the meaning set forth in the preamble hereto.

          “Registrable Securities” shall mean shares of Common Stock initially issuable in exchange for
the Notes initially sold to the Initial Purchasers pursuant to the Purchase Agreement other than
those that have (i) been registered under the Shelf Registration Statement and disposed of in
accordance therewith, (ii) become eligible to be sold without restriction as contemplated by Rule
144 under the Act or any successor rule or regulation thereto that may be adopted by the
Commission, (iii) ceased to be outstanding, whether as a result of redemption, repurchase,
cancellation, exchange or otherwise, or (iv) been sold to the public pursuant to Rule 144 under the
Act.

          “Registration Default” shall have the meaning set forth in Section 7 hereof.

          “Registration Default Damages” shall have the meaning set forth in Section 7 hereof.

          “Representatives” shall have the meaning set forth in the preamble hereto.

          “Shelf Registration Period” shall have the meaning set forth in Section 2(c) hereof.

          “Shelf Registration Statement” shall mean a “shelf” registration statement of the Company
pursuant to the provisions of Section 2 hereof which covers some or all of the Common Stock on an
appropriate form under Rule 415 under the Act, or any similar rule that may be adopted by the
Commission, amendments and supplements to such registration statement, including post-effective
amendments, in each case including the Prospectus contained therein, all exhibits thereto and all
material incorporated by reference therein.

          “Trust Indenture Act” shall mean the Trust Indenture Act of 1939, as amended, and the rules
and regulations of the Commission promulgated thereunder.

          “underwriter” shall mean any underwriter of Common Stock in connection with an offering
thereof under the Shelf Registration Statement.

          “Well-Known Seasoned Issuer” or “WKSI” shall have the meaning set forth in Rule 405 under the
Act.

          2. Shelf Registration. (a) The Company shall as promptly as practicable (but in no
event more than 180 days after the Closing Date) file with the Commission a Shelf Registration
Statement (which shall be, if the Company is then a WKSI, an Automatic Shelf Registration
Statement) providing for the registration of, and the sale on a continuous or delayed basis by the
Holders of, all of the Registrable Securities, from time to time in accordance with the methods of
distribution elected by such Holders, pursuant to Rule 415 under the Act or any similar rule that
may be adopted by the Commission.

          (b) If the Shelf Registration Statement is not an Automatic Shelf Registration Statement, the
Company shall use its reasonable efforts to cause the Shelf Registration Statement to become or be
declared effective under the Act no later than 180 days after the Closing Date.

          (c) The Company shall use its reasonable efforts to keep the Shelf Registration Statement
continuously effective, supplemented and amended as required by the Act, in order to permit the
Prospectus forming part thereof to be usable by Holders for a period (the “Shelf Registration
Period”) from the date the Shelf Registration Statement is declared effective by the Commission (or
becomes effective in the case of an Automatic Shelf Registration Statement) until the earlier of
(i) the 20th trading day immediately following the maturity date of

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the Notes or (ii) the date upon which there are no Registrable Securities or Notes exchangeable for
Registrable Securities outstanding. The Company shall be deemed not to have used its reasonable
efforts to keep the Shelf Registration Statement effective during the Shelf Registration Period if
it voluntarily takes any action that would result in Holders of Registrable Securities not being
able to offer and sell such Common Stock at any time during the Shelf Registration Period, unless
such action is (x) required by applicable law or otherwise undertaken by the Company in good faith
and for valid business reasons (not including avoidance of the Company’s obligations hereunder),
including the acquisition or divestiture of assets, and (y) permitted by Section 3(i) hereof. None
of the Company, the Operating Partnership or any of their respective securityholders (other than
Holders of Registrable Securities) shall have the right to include any securities of the Company or
the Operating Partnership in any Shelf Registration Statement other than Registrable Securities.

          (d) The Company shall cause the Shelf Registration Statement and the related Prospectus and
any amendment or supplement thereto, as of the effective date of the Shelf Registration Statement
or such amendment or supplement, (i) to comply in all material respects with the applicable
requirements of the Act; and (ii) not to contain any untrue statement of a material fact or omit to
state a material fact required to be stated therein or necessary in order to make the statements
therein (in the case of the Prospectus, in the light of the circumstances under which they were
made) not misleading.

          (e) The Company shall issue a press release through a reputable national newswire service
announcing the anticipated effective date of the Shelf Registration Statement at least 15 Business
Days prior to the anticipated effective date thereof. Each Holder of Registrable Securities agrees
to deliver a Notice and Questionnaire and such other information as the Company may reasonably
request in writing, if any, to the Company at least ten Business Days prior to the anticipated
effective date of the Shelf Registration Statement as announced in the press release. If a Holder
does not timely complete and deliver a Notice and Questionnaire or provide the other information
the Company may request, that Holder will not be named as a selling securityholder in the
Prospectus and will not be permitted to sell its securities under the Shelf Registration Statement.
From and after the effective date of the Shelf Registration Statement, the Company shall use
reasonable efforts, as promptly as is practicable after the date a Notice and Questionnaire is
delivered, and in any event within 20 Business Days after such date, (i) if required by applicable
law, to file with the Commission a post-effective amendment to the Shelf Registration Statement;
and, if the Company shall file a post-effective amendment to the Shelf Registration Statement, use
reasonable efforts to cause such post-effective amendment to be declared effective under the Act as
promptly as is practicable; provided, that the Company shall not be required to file more
than one post-effective amendment in any 90-day period in accordance with this Section 2(e)(i) or
to prepare and, if permitted or required by applicable law, to file a supplement to the related
Prospectus or an amendment or supplement to any document incorporated therein by reference or file
any other required document so that the Holder delivering such Notice and Questionnaire is named as
a selling securityholder in the Shelf Registration Statement and the related Prospectus, and so
that such Holder is permitted to deliver such Prospectus to purchasers of the Registrable
Securities in accordance with applicable law; (ii) provide such Holder, upon request, copies of any
documents filed pursuant to Section 2(e)(i) hereof; and (iii) notify such Holder as promptly as
practicable after the effectiveness under the Act of any post-effective amendment filed pursuant to
Section 2(e)(i) hereof; provided, that if such Notice and Questionnaire is delivered during
a Deferral Period, the Company shall so inform the Holder delivering such Notice and Questionnaire
and shall take the actions set forth in clauses (i), (ii) and (iii) above upon expiration of the
Deferral Period in accordance with Section 3(i) hereof. Notwithstanding anything contained herein
to the contrary, the Company shall be under no obligation to name any Holder that is not a Notice
Holder as a selling securityholder in the Shelf Registration Statement or related Prospectus;
provided, however, that any Holder that becomes a Notice Holder pursuant to the
provisions of this Section 2(e) (whether or not such Holder was a Notice Holder at the effective
date of the Shelf Registration Statement) shall be named as a selling securityholder in the Shelf
Registration Statement or related Prospectus in accordance with the requirements of this Section
2(e). Notwithstanding the foregoing, if (A) the Notes are called for redemption and the then
prevailing market price of the Common Stock is above the Exchange Price or (B) the Notes are
exchanged as provided for in Section 13.01 of the Indenture, then the Company shall use reasonable
efforts to file the post-effective amendment or supplement within five Business Days of the
redemption date or exchange date, as applicable.

          3. Registration Procedures. The following provisions shall apply in connection with
the Shelf Registration Statement.

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          (a) The Company shall:

     (i) furnish to each of the Representatives and to counsel for the Notice Holders (as
appointed in accordance with Section 4), not less than five Business Days prior to the
filing thereof with the Commission, a copy of the Shelf Registration Statement and each
amendment thereto and each amendment or supplement, if any, to the Prospectus included
therein (including all documents incorporated by reference therein after the initial filing)
and shall use its reasonable efforts to reflect in each such document, when so filed with
the Commission, such comments as the Representatives reasonably propose; and

     (ii) include information regarding the Notice Holders and the methods of distribution
they have elected for their Registrable Securities provided to the Company in Notices and
Questionnaires as necessary to permit such distribution by the methods specified therein.

          (b) The Company shall ensure that:

     (i) the Shelf Registration Statement and any amendment thereto and any Prospectus
forming part thereof and any amendment or supplement thereto complies in all material
respects with the Act; and

     (ii) the Shelf Registration Statement and any amendment thereto does not, when it
becomes effective, contain an untrue statement of a material fact or omit to state a
material fact required to be stated therein or necessary to make the statements therein not
misleading.

          (c) The Company shall advise the Representatives, the Notice Holders and any underwriter that
has provided in writing to the Company a telephone or facsimile number and address for notices, and
confirm such advice in writing, if requested (which notice pursuant to clauses (ii)-(v) hereof
shall be accompanied by an instruction to suspend the use of the Prospectus until the Company shall
have remedied the basis for such suspension):

     (i) when the Shelf Registration Statement and any amendment thereto has been filed with
the Commission and when the Shelf Registration Statement or any post-effective amendment
thereto has become effective;

     (ii) of any request by the Commission for any amendment or supplement to the Shelf
Registration Statement or the Prospectus or for additional information;

     (iii) of the issuance by the Commission of any stop order suspending the effectiveness
of the Shelf Registration Statement or the institution or threatening of any proceeding for
that purpose;

     (iv) of the receipt by the Company of any notification with respect to the suspension
of the qualification of the Common Stock included therein for sale in any jurisdiction or
the institution or threatening of any proceeding for such purpose; and

     (v) of the happening of any event that requires any change in the Shelf Registration
Statement or the Prospectus so that, as of such date, they (A) do not contain any untrue
statement of a material fact and (B) do not omit to state a material fact required to be
stated therein or necessary to make the statements therein (in the case of the Prospectus,
in the light of the circumstances under which they were made) not misleading.

          (d) The Company shall use its reasonable best efforts to prevent the issuance of any order
suspending the effectiveness of the Shelf Registration Statement or the qualification of the
securities therein for sale in any jurisdiction and, if issued, to obtain as soon as possible the
withdrawal thereof. The Company shall undertake additional reasonable actions as required to
permit unrestricted resales of the Common Stock in accordance with the terms and conditions of this
Agreement.

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          (e) Upon request, the Company shall furnish to each Notice Holder, without charge, at least
one copy of the Shelf Registration Statement and any post-effective amendment thereto, including
all material incorporated therein by reference, and, if a Notice Holder so requests in writing, all
exhibits thereto (including exhibits incorporated by reference therein).

          (f) During the Shelf Registration Period, the Company shall promptly deliver to each Initial
Purchaser, each Notice Holder, and any sales or placement agents or underwriters acting on their
behalf, without charge, as many copies of the Prospectus (including the preliminary Prospectus, if
any) included in the Shelf Registration Statement and any amendment or supplement thereto as any
such person may reasonably request. The Company consents to the use of the Prospectus or any
amendment or supplement thereto by each of the foregoing in connection with the offering and sale
of the Common Stock.

          (g) Prior to any offering of Common Stock pursuant to the Shelf Registration Statement, the
Company shall use reasonable best efforts to arrange for the qualification of the Common Stock for
sale under the laws of such jurisdictions as any Notice Holder shall reasonably request and shall
maintain such qualification in effect so long as required; provided that in no event shall the
Company be obligated to qualify to do business or as a dealer in any jurisdiction where it is not
then so qualified or to take any action that would subject it to service of process in suits, other
than those arising out of the Initial Placement or any offering pursuant to the Shelf Registration
Statement, in any jurisdiction where it is not then so subject.

          (h) Upon the occurrence of any event contemplated by subsections (c)(ii) through (v) above,
the Company shall promptly (or within the time period provided for by Section 3(i) hereof, if
applicable) prepare a post-effective amendment to the Shelf Registration Statement or an amendment
or supplement to the related Prospectus or file any other required document so that, as thereafter
delivered to Initial Purchasers of the securities included therein, the Prospectus will not include
an untrue statement of a material fact or omit to state any material fact required to be stated
therein or necessary to make the statements therein, in the light of the circumstances under which
they were made, not misleading.

          (i) Upon the occurrence or existence of any pending corporate development, public filings with
the Commission or any other material event that, in the reasonable judgment of the Company, makes
it appropriate to suspend the availability of the Shelf Registration Statement and the related
Prospectus, the Company shall give notice (without notice of the nature or details of such events)
to the Notice Holders that the availability of the Shelf Registration Statement is suspended and,
upon actual receipt of any such notice, each Notice Holder agrees not to sell any Registrable
Securities pursuant to the Shelf Registration Statement until such Notice Holder’s receipt of
copies of the supplemented or amended Prospectus provided for in Section 3(h) hereof, or until it
is advised in writing by the Company that the Prospectus may be used, and has received copies of
any additional or supplemental filings that are incorporated or deemed incorporated by reference in
such Prospectus. The period during which the availability of the Shelf Registration Statement and
any Prospectus is suspended (the “Deferral Period”) shall not exceed 45 days in any 90-day period
or 90 days in any 360-day period; provided, that, if the event triggering the
Deferral Period relates to a proposed or pending material business transaction, the disclosure of
which the board of directors of the Company determines in good faith would be reasonably likely to
impede the ability to consummate the transaction or would otherwise be seriously detrimental to the
Company and its subsidiaries taken a whole, the Company may extend the Deferral Period from 45 days
to 60 days in any 90-day period or from 90 days to 120 days in any 360-day period.

          (j) The Company shall comply with all applicable rules and regulations of the Commission and
shall make generally available to its securityholders an earnings statement satisfying the
provisions of Section 11(a) and Rule 158 of the Act as soon as practicable after the effective date
of the Shelf Registration Statement and in any event no later than 45 days after the end of a
12-month period (or 90 days, if such period is a fiscal year) beginning with the first month of the
Company’s first fiscal quarter commencing after the effective date of the Shelf Registration
Statement.

          (k) The Company may require each Holder of Common Stock to be sold pursuant to the Shelf
Registration Statement to furnish to the Company such information regarding the Holder and the
distribution of such Common Stock as the Company may from time to time reasonably require for
inclusion in the Shelf

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Registration Statement. The Company may exclude from the Shelf Registration Statement the Common
Stock of any Holder that unreasonably fails to furnish such information within 15 days after
receiving such request.

          (l) Subject to Section 6 hereof, the Company shall enter into customary agreements (including,
if requested, an underwriting agreement in customary form) and take all other appropriate actions
in order to expedite or facilitate the registration or the disposition of the Common Stock, and in
connection therewith, if an underwriting agreement is entered into, cause the same to contain
customary indemnification provisions and procedures.

          (m) Subject to Section 6 hereof, the Company shall:

     (i) make reasonably available for inspection by the Holders of Common Stock to be
registered thereunder, any underwriter participating in any disposition pursuant to the
Shelf Registration Statement, and any attorney, accountant or other agent retained by the
Holders or any such underwriter all relevant financial and other records and pertinent
corporate documents of the Company and its subsidiaries;

     (ii) cause the Company’s officers, directors, employees, accountants and auditors to
supply all relevant information reasonably requested by the Holders or any such underwriter,
attorney, accountant or agent in connection with the Shelf Registration Statement as is
customary for similar due diligence examinations;

     (iii) make such representations and warranties to the Holders of Common Stock
registered thereunder and the underwriters, if any, in form, substance and scope as are
customarily made by issuers to underwriters in primary underwritten offerings and covering
matters including, but not limited to, those set forth in the Purchase Agreement;

     (iv) obtain opinions of counsel to the Company and updates thereof (which counsel and
opinions (in form, scope and substance) shall be reasonably satisfactory to the Managing
Underwriters, if any) addressed to each selling Holder and the underwriters, if any,
covering such matters as are customarily covered in opinions requested in underwritten
offerings and such other matters as may be reasonably requested by such Holders and
underwriters;

     (v) obtain “comfort” letters and updates thereof from the independent certified public
accountants of the Company (and, if necessary, any other independent certified public
accountants of any subsidiary of the Company or of any business acquired by the Company for
which financial statements and financial data are, or are required to be, included in the
Shelf Registration Statement), addressed to each selling Holder of Common Stock registered
thereunder and the underwriters, if any, in customary form and covering matters of the type
customarily covered in “comfort” letters in connection with primary underwritten offerings;
and

     (vi) deliver such documents and certificates as may be reasonably requested by the
Majority Holders or the Managing Underwriters, if any, including those to evidence
compliance with Section 3(i) hereof and with any customary conditions (including without
limitation lock-up agreements with directors and officers) contained in the underwriting
agreement or other agreement entered into by the Company.

The actions set forth in clauses (iii), (iv), (v) and (vi) of this paragraph (m) shall be performed
in connection with any underwriting or similar agreement as and to the extent required thereunder.

          (n) In the event that any Broker-Dealer shall underwrite any Common Stock or participate as a
member of an underwriting syndicate or selling group or “assist in the distribution” (within the
meaning of the FINRA Rules) thereof, whether as a Holder of such Common Stock or as an underwriter,
a placement or sales agent or a broker or dealer in respect thereof, or otherwise, the Company
shall assist such Broker-Dealer in complying with the FINRA Rules.

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          (o) The Company shall use its reasonable efforts to take all other steps necessary to effect
the registration of the Common Stock covered by the Shelf Registration Statement.

          4. Registration Expenses. The Company shall bear all expenses incurred in connection
with the performance of its obligations under Sections 2 and 3 hereof and shall reimburse the
Holders for the reasonable fees and disbursements of one firm or counsel (which, if appointed,
shall be a nationally recognized law firm experienced in securities matters designated by the
Majority Holders) to act as counsel for the Holders in connection therewith.

          5. Indemnification and Contribution. (a) The Company and the Operating Partnership
agree to indemnify and hold harmless each Holder of Common Stock covered by the Shelf Registration
Statement, each Initial Purchaser, the directors, officers, employees, Affiliates and agents of
each such Holder or Initial Purchaser and each person who controls any such Holder or Initial
Purchaser within the meaning of either the Act or the Exchange Act against any and all losses,
claims, damages or liabilities, joint or several, to which they or any of them may become subject
under the Act, the Exchange Act or other federal or state statutory law or regulation, at common
law or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect
thereof) arise out of or are based upon any untrue statement or alleged untrue statement of a
material fact contained in the Shelf Registration Statement as originally filed or in any amendment
thereof, or in any preliminary Prospectus or the Prospectus, or in any amendment thereof or
supplement thereto, or arise out of or are based upon the omission or alleged omission to state
therein a material fact required to be stated therein or necessary to make the statements therein
(in the case of any preliminary Prospectus or the Prospectus, in the light of the circumstances
under which they were made) not misleading, and agrees to reimburse each such indemnified party, as
incurred, for any legal or other expenses reasonably incurred by it in connection with
investigating or defending any such loss, claim, damage, liability or action; provided,
however, that the Company and the Operating Partnership will not be liable in any such case
to the extent that any such loss, claim, damage or liability arises out of or is based upon any
such untrue statement or alleged untrue statement or omission or alleged omission made therein in
reliance upon and in conformity with written information furnished to the Company by or on behalf
of the party claiming indemnification specifically for inclusion therein. This indemnity agreement
shall be in addition to any liability that the Company and the Operating Partnership may otherwise
have to the indemnified party.

          The Company and the Operating Partnership also agree to indemnify as provided in this Section
5(a) or contribute as provided in Section 5(d) hereof to Losses of each underwriter, if any, of
Common Stock registered under the Shelf Registration Statement, its directors, officers, employees,
Affiliates or agents and each person who controls such underwriter on substantially the same basis
as that of the indemnification of the Initial Purchasers and the selling Holders provided in this
paragraph (a) and shall, if requested by any Holder, enter into an underwriting agreement
reflecting such agreement, as provided in Section 3(l) hereof.

          (b) Each Holder of securities covered by the Shelf Registration Statement (including each
Initial Purchaser that is a Holder, in such capacity) severally and not jointly agrees to indemnify
and hold harmless the Company and the Operating Partnership, each of its directors, each of its
officers who signs the Shelf Registration Statement and each person who controls the Company or the
Operating Partnership within the meaning of either the Act or the Exchange Act, to the same extent
as the foregoing indemnity from the Company and the Operating Partnership to each such Holder, but
only with reference to written information relating to such Holder furnished to the Company by or
on behalf of such Holder specifically for inclusion in the documents referred to in the foregoing
indemnity. This indemnity agreement shall be acknowledged by each Notice Holder that is not an
Initial Purchaser in such Notice Holder’s Notice and Questionnaire and shall be in addition to any
liability that any such Notice Holder may otherwise have to the Company or the Operating
Partnership.

          (c) Promptly after receipt by an indemnified party under this Section 5 or notice of the
commencement of any action, such indemnified party will, if a claim in respect thereof is to be
made against the indemnifying party under this Section 5, notify the indemnifying party in writing
of the commencement thereof; but the failure so to notify the indemnifying party (i) will not
relieve the indemnifying party from liability under paragraph (a) or (b) above unless and to the
extent it did not otherwise learn of such action and such failure results in the forfeiture by the
indemnifying party of substantial rights and defenses; and (ii) will not, in any event, relieve the
indemnifying party from any obligations to any indemnified party other than the indemnification
obligation provided in paragraph (a) or (b) above. The indemnifying party shall be entitled to
appoint counsel (including local

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counsel) of the indemnifying party’s choice at the indemnifying party’s expense to represent the
indemnified party in any action for which indemnification is sought (in which case the indemnifying
party shall not thereafter be responsible for the fees and expenses of any separate counsel, other
than local counsel if not appointed by the indemnifying party, retained by the indemnified party or
parties except as set forth below); provided, however, that such counsel shall be
reasonably satisfactory to the indemnified party. Notwithstanding the indemnifying party’s
election to appoint counsel (including local counsel) to represent the indemnified party in an
action, the indemnified party shall have the right to employ separate counsel (including local
counsel), and the indemnifying party shall bear the reasonable fees, costs and expenses of such
separate counsel if (i) the use of counsel chosen by the indemnifying party to represent the
indemnified party would present such counsel with a conflict of interest; (ii) the actual or
potential defendants in, or targets of, any such action include both the indemnified party and the
indemnifying party and the indemnified party shall have reasonably concluded that there may be
legal defenses available to it and/or other indemnified parties that are different from or
additional to those available to the indemnifying party; (iii) the indemnifying party shall not
have employed counsel satisfactory to the indemnified party to represent the indemnified party
within a reasonable time after notice of the institution of such action; or (iv) the indemnifying
party shall authorize the indemnified party to employ separate counsel at the expense of the
indemnifying party. No indemnifying party shall, without the prior written consent of the
indemnified party, effect any settlement of any pending or threatened action in respect of which
any indemnified party is or could have been a party and indemnity could have been sought hereunder
by such indemnified party unless such settlement (i) includes an unconditional release of such
indemnified party from all liability on any claims that are the subject matter of such action, (ii)
does not include a statement as to, or an admission of, fault, culpability or a failure to act by
or on behalf of an indemnified party, and (iii) does not include any undertaking or obligation to
act or to refrain from acting by the indemnified party.

          (d) In the event that the indemnity provided in paragraph (a) or (b) of this Section 5 is
unavailable to or insufficient to hold harmless an indemnified party for any reason, then each
applicable indemnifying party shall have a joint and several obligation to contribute to the
aggregate losses, claims, damages and liabilities (including legal or other expenses reasonably
incurred in connection with investigating or defending loss, claim, liability, damage or action)
(collectively “Losses”) to which such indemnified party may be subject in such proportion as is
appropriate to reflect the relative benefits received by such indemnifying party, on the one hand,
and such indemnified party, on the other hand, from the Initial Placement and the Shelf
Registration Statement which resulted in such Losses; provided, however, that in no
case shall any Initial Purchaser be responsible, in the aggregate, for any amount in excess of the
purchase discount or commission applicable to the Notes, as set forth in the Final Memorandum, nor
shall any underwriter be responsible for any amount in excess of the underwriting discount or
commission applicable to the securities purchased by such underwriter under the Shelf Registration
Statement which resulted in such Losses. If the allocation provided by the immediately preceding
sentence is unavailable for any reason, the indemnifying party and the indemnified party shall
contribute in such proportion as is appropriate to reflect not only such relative benefits but also
the relative fault of such indemnifying party, on the one hand, and such indemnified party, on the
other hand, in connection with the statements or omissions which resulted in such Losses as well as
any other relevant equitable considerations. Benefits received by the Company and the Operating
Partnership shall be deemed to be equal to the total net proceeds from the Initial Placement
(before deducting expenses) as set forth in the Final Memorandum. Benefits received by the Initial
Purchasers shall be deemed to be equal to the total purchase discounts and commissions, and
benefits received by any other Holders shall be deemed to be equal to the value of receiving Common
Stock registered under the Act. Benefits received by any underwriter shall be deemed to be equal
to the total underwriting discounts and commissions, as set forth on the cover page of the
Prospectus forming a part of the Shelf Registration Statement which resulted in such Losses.
Relative fault shall be determined by reference to, among other things, whether any untrue or any
alleged untrue statement of a material fact or omission or alleged omission to state a material
fact relates to information provided by the indemnifying party, on the one hand, or by the
indemnified party, on the other hand, the intent of the parties and their relative knowledge,
access to information and opportunity to correct or prevent such untrue statement or omission. The
parties agree that it would not be just and equitable if contribution were determined by pro rata
allocation (even if the Holders were treated as one entity for such purpose) or any other method of
allocation which does not take account of the equitable considerations referred to above.
Notwithstanding the provisions of this paragraph (d), no person guilty of fraudulent
misrepresentation (within the meaning of Section 11(f) of the Act) shall be entitled to
contribution from any person who was not guilty of such fraudulent misrepresentation. For purposes
of this Section 5, each person who controls a Holder within the meaning of either the Act or the
Exchange Act and each director, officer, employee and agent of such Holder shall have the same
rights to contribution as such

9

 

Holder, and each person who controls the Company or the Operating Partnership within the meaning of
either the Act or the Exchange Act, each officer of the Company or the Operating Partnership who
shall have signed the Shelf Registration Statement and each director of the Company or the
Operating Partnership shall have the same rights to contribution as the Company and the Operating
Partnership, subject in each case to the applicable terms and conditions of this paragraph (d).

          (e) The provisions of this Section 5 shall remain in full force and effect, regardless of any
investigation made by or on behalf of any Holder or the Company or the Operating Partnership or any
of the indemnified persons referred to in this Section 5, and shall survive the sale by a Holder of
securities covered by the Shelf Registration Statement.

          6. Underwritten Registrations. (a) In no event will the method of distribution of
Registrable Securities take the form of an underwritten offering without the prior written consent
of the Company.

          (b) If any shares of Common Stock covered by the Shelf Registration Statement are to be sold
in an underwritten offering, the Managing Underwriters shall be selected by the Company, subject to
the prior written consent of the Majority Holders, which consent shall not be unreasonably
withheld.

          (c) No person may participate in any underwritten offering pursuant to the Shelf Registration
Statement unless such person (i) agrees to sell such person’s shares of Common Stock on the basis
reasonably provided in any underwriting arrangements approved by the persons entitled hereunder to
approve such arrangements; and (ii) completes and executes all questionnaires, powers of attorney,
indemnities, underwriting agreements and other documents reasonably required under the terms of
such underwriting arrangements.

          7. Registration Defaults. If any of the following events (each a “Registration
Default”) shall occur, then the Company shall pay additional interest (the “Registration Default
Damages”) to the Holders as follows:

          (a) if the Shelf Registration Statement (which shall be, if the Company is then a WKSI, an
Automatic Shelf Registration Statement) is not filed with the Commission on or prior to the 180th
day following the Closing Date, then commencing on the 181st day after the Closing Date,
Registration Default Damages shall accrue on the aggregate outstanding principal amount of the
Notes, at a rate of 0.25% per annum for the first 90 days from and including such 181st day and
0.50% per annum thereafter; or

          (b) if the Shelf Registration Statement is not declared effective by the Commission (or has
not become effective in the case of an Automatic Shelf Registration Statement) on or prior to the
180th day following the Closing Date, then commencing on the 181st day after the Closing Date,
Registration Default Damages shall accrue on the aggregate outstanding principal amount of the
Notes, at a rate of 0.25% per annum for the first 90 days from and including such 181st day and
0.50% per annum thereafter; or

          (c) if the Shelf Registration Statement has been declared or become effective but ceases to be
effective or usable for the offer and sale of the Registrable Securities, other than in connection
with (A) a Deferral Period or (B) as a result of a requirement to file a post-effective amendment
or supplement to the Prospectus to make changes to the information regarding selling
securityholders or the plan of distribution provided for therein, at any time during the Shelf
Registration Period and the Company does not cure the lapse of effectiveness or usability within
ten Business Days (or, if a Deferral Period is then in effect and subject to the 20 Business Day
filing requirement and the proviso regarding the filing of post-effective amendments in Section
2(e) with respect to any Notice and Questionnaire received during such period, within ten Business
Days following the expiration of such Deferral Period or period permitted pursuant to Section 2(e))
then Registration Default Damages shall accrue on the aggregate outstanding principal amount of the
Notes at a rate of 0.25% per annum for the first 90 days from and including the day following such
tenth Business Day and 0.50% per annum thereafter; or

          (d) if the Company through its omission fails to name as a selling securityholder any Holder
that had complied timely with its obligations hereunder in a manner to entitle such Holder to be so
named in (i) the Shelf Registration Statement at the time it first became effective or (ii) any
Prospectus at the later of time of filing

10

 

thereof or the time the Shelf Registration Statement of which the Prospectus forms a part becomes
effective then Registration Default Damages shall accrue, on the aggregate outstanding principal
amount of the Notes held by such Holder, at a rate of 0.25% per annum for the first 90 days from
and including the day following the effective date of such Shelf Registration Statement or the time
of filing of such Prospectus, as the case may be, and 0.50% per annum thereafter; or

          (e) if the aggregate duration of Deferral Periods in any period exceeds the number of days
permitted in respect of such period pursuant to Section 3(i) hereof, then commencing on the day the
aggregate duration of Deferral Periods in any period exceeds the number of days permitted in
respect of such period, Registration Default Damages shall accrue on the aggregate outstanding
principal amount of the Notes at a rate of 0.25% per annum for the first 90 days from and including
such date, and 0.50% per annum thereafter;

provided, however, that (1) upon the filing of the Shelf Registration Statement (in
the case of paragraph (a) above), (2) upon the effectiveness of the Shelf Registration Statement
(in the case of paragraph (b) above), (3) upon such time as the Shelf Registration Statement which
had ceased to remain effective or usable for resales again becomes effective and usable for resales
(in the case of paragraph (c) above), (4) upon the time such Holder is permitted to sell its
Registrable Securities pursuant to any Shelf Registration Statement and Prospectus in accordance
with applicable law (in the case of paragraph (d) above) or (5) upon the termination of the
Deferral Period that caused the limit on the aggregate duration of Deferral Periods in a period set
forth in Section 3(i) to be exceeded (in the case of paragraph (e) above), the Registration Default
Damages shall cease to accrue.

          Any amounts of Registration Default Damages due pursuant to this Section 7 will be payable in
cash on the next succeeding interest payment date to Holders entitled to receive such Registration
Default Damages on the relevant record dates for the payment of interest. If any Note ceases to be
outstanding during any period for which Registration Default Damages are accruing, the Company will
prorate the Registration Default Damages payable with respect to such Note.

          The Registration Default Damages rate on the Notes shall not exceed in the aggregate 0.50% per
annum and shall not be payable under more than one clause above for any given period of time,
except that if Registration Default Damages would be payable because of more than one Registration
Default, but at a rate of 0.25% per annum under one Registration Default and at a rate of 0.50% per
annum under the other, then the Registration Default Damages rate shall be the higher rate of 0.50%
per annum. Other than the Company’s obligation to pay Registration Default Damages in accordance
with this Section 7, neither the Company nor the Operating Partnership will have any liability for
damages with respect to a Registration Default.

          Notwithstanding any provision in this Agreement, in no event shall Registration Default
Damages accrue to holders of Common Stock issued upon exchange of Notes. In lieu thereof, the
Company shall increase the Exchange Rate (as defined in the Indenture) by 3% for each $1,000
principal amount of Notes exchanged at a time when such Registration Default has occurred and is
continuing.

          The sole remedy for any violation of any obligations the Company may be deemed to have
pursuant to Section 314(a)(1) of the Trust Indenture Act or for the Company’s compliance with
Section 5.04 of the Indenture shall be the accrual of Registration Default Damages on the Notes at
a rate of 0.25% per annum based on the number of days of the relevant interest period on which the
Company or the Operating Partnership is deemed to be in violation of such section. In no event
shall Registration Default Damages accrue on the Notes at a per annum rate in excess of 0.50% per
annum pursuant to both the Indenture and this Agreement, taken together, regardless of the number
of events or circumstances giving rise to the requirement to pay such Registration Default Damages.

          8. No Inconsistent Agreements. Neither the Company nor the Operating Partnership has
entered into, and each agrees not to enter into, any agreement with respect to its securities that
is inconsistent with the registration rights granted to the Holders herein.

          9. Rule 144A and Rule 144. So long as any Registrable Securities remain outstanding,
the Company shall use its reasonable best efforts to file the reports required to be filed by it
under Rule 144A(d)(4) under the Act and the Exchange Act in a timely manner and, if at anytime the
Company is not required to file such reports, it will, upon the written request of any Holder of
Registrable Securities, make publicly available other

11

 

information so long as necessary to permit sales of such Holder’s Registrable Securities pursuant
to Rules 144 and 144A of the Act. The Company covenants that it will take such further action as
any Holder of Registrable Securities may reasonably request, all to the extent required from time
to time to enable such Holder to sell Registrable Securities without registration under the Act
within the limitation of the exemptions provided by Rules 144 and 144A (including, without
limitation, the requirements of Rule 144A(d)(4)). Upon the written request of any Holder of
Registrable Securities, the Company shall deliver to such Holder a written statement as to whether
it has complied with such requirements. Notwithstanding the foregoing, nothing in this Section 9
shall be deemed to require the Company or the Operating Partnership to register any of its
securities pursuant to the Exchange Act.

          10. Listing. So long as any Registrable Securities are outstanding, the Company shall
use its reasonable efforts to maintain the approval of the Registrable Securities for listing on
the New York Stock Exchange or such other exchange or trading market as the Common Stock is then
listed.

          11. Amendments and Waivers. The provisions of this Agreement may not be amended,
qualified, modified or supplemented, and waivers or consents to departures from the provisions
hereof may not be given, unless the Company has obtained the written consent of the Majority
Holders; provided that, with respect to any matter that directly or indirectly affects the rights
of any Initial Purchaser hereunder, the Company shall obtain the written consent of each such
Initial Purchaser against which such amendment, qualification, supplement, waiver or consent is to
be effective; provided, further, that no amendment, qualification, supplement,
waiver or consent with respect to Section 7 hereof shall be effective as against any Holder of
Registrable Securities unless consented to in writing by such Holder; and provided,
further, that the provisions of this Article 11 may not be amended, qualified, modified or
supplemented, and waivers or consents to departures from the provisions hereof may not be given,
unless the Company has obtained the written consent of the Initial Purchasers and each Holder.

          12. Notices. All notices and other communications provided for or permitted hereunder
shall be made in writing by hand-delivery, first-class mail, telex, telecopier or air courier
guaranteeing overnight delivery:

          (a) if to a Holder, at the most current address given by such holder to the Company in
accordance with the provisions of the Notice and Questionnaire;

          (b) if to the Initial Purchasers or the Representatives, initially at the address or addresses
set forth in the Purchase Agreement; and

          (c) if to the Company or the Operating Partnership, initially at its address set forth in the
Purchase Agreement.

          All such notices and communications shall be deemed to have been duly given when received.

          The Initial Purchasers, the Company or the Operating Partnership by notice to the other
parties may designate additional or different addresses for subsequent notices or communications.

          Notwithstanding the foregoing, notices given to Holders holding Notes in book-entry form may
be given through the facilities of DTC or any successor depository.

          13. Remedies. Each Holder, in addition to being entitled to exercise all rights
provided to it herein or in the Purchase Agreement or granted by law, including recovery of
liquidated or other damages, will be entitled to specific performance of its rights under this
Agreement. The Company and the Operating Partnership agree that monetary damages would not be
adequate compensation for any loss incurred by reason of a breach by them of the provisions of this
Agreement and hereby agree to waive in any action for specific performance the defense that a
remedy at law would be adequate.

          14. Successors. This Agreement shall inure to the benefit of and be binding upon the
parties hereto, their respective successors and assigns, including, without the need for an express
assignment or any consent by the Company or the Operating Partnership thereto, subsequent Holders
of Registrable Securities, and the indemnified persons referred to in Section 5 hereof. The
Company and the Operating Partnership hereby agree to

12

 

extend the benefits of this Agreement to any Holder of Registrable Securities, and any such Holder
may specifically enforce the provisions of this Agreement as if an original party hereto.

          15. Counterparts. This Agreement may be signed in one or more counterparts, each of
which shall constitute an original and all of which together shall constitute one and the same
agreement.

          16. Headings. The section headings used herein are for convenience only and shall not
affect the construction hereof.

          17. Applicable Law. This Agreement shall be governed by and construed in accordance
with the laws of the State of New York applicable to contracts made and to be performed in the
State of New York. The parties hereto each hereby waive any right to trial by jury in any action,
proceeding or counterclaim arising out of or relating to this Agreement.

          18. Severability. In the event that any one of more of the provisions contained
herein, or the application thereof in any circumstances, is held invalid, illegal or unenforceable
in any respect for any reason, the validity, legality and enforceability of any such provision in
every other respect and of the remaining provisions hereof shall not be in any way impaired or
affected thereby, it being intended that all of the rights and privileges of the parties shall be
enforceable to the fullest extent permitted by law.

          19. Notes Held by the Company, etc. Whenever the consent or approval of Holders of a
specified percentage of principal amount of Notes is required hereunder, Notes held by the Company
or its Affiliates (other than subsequent Holders of Notes if such subsequent Holders are deemed to
be Affiliates solely by reason of their holdings of such Notes) shall not be counted in determining
whether such consent or approval was given by the Holders of such required percentage.

13

 

          If the foregoing is in accordance with your understanding of our agreement, please sign and
return to us the enclosed duplicate hereof, whereupon this letter and your acceptance shall
represent a binding agreement by and among the Company, the Operating Partnership and the several
Initial Purchasers.

	 	 	 	 	 
	 	Very truly yours,

BioMed Realty Trust, Inc.

 	 
	 	By:  	/s/ R. Kent Griffin, Jr.
 	 
	 	 	Name:  	R. Kent Griffin, Jr. 	 
	 	 	Title:  	President, Chief Operating Officer and

Chief Financial Officer 	 
	 
	 	BioMed Realty, L.P.

 	 
	 	By:  	BioMed Realty Trust, Inc.,

its General Partner
 	 
	 	 	 
	 	By:  	                 /s/ R. Kent Griffin, Jr.
 	 
	 	 	Name:  	R. Kent Griffin, Jr. 	 
	 	 	Title:  	President, Chief Operating Officer and

Chief Financial Officer 	 
	 

The foregoing Agreement is hereby confirmed and accepted as of the date first above written.

	 	 	 	 	 
	DEUTSCHE BANK SECURITIES INC.

 	 	 
	By:  	/s/ Donald Sung
 	 	 
	 	Name:  	Donald Sung 	 	 
	 	Title:  	Managing Director 	 	 
	 	 	 
	By:  	/s/ Brooks Harris
 	 	 
	 	Name:  	Brooks Harris 	 	 
	 	Title:  	Managing Director 	 	 
	 
	CREDIT SUISSE SECURITIES (USA) LLC

 	 	 
	By:  	/s/
Eric A. Anderson
 	 	 
	 	Name:  	Eric A. Anderson 	 	 
	 	Title:  	Managing Director 	 	 
	 
	MORGAN STANLEY & CO. INCORPORATED

 	 	 
	By:  	/s/ David Chattleton
 	 	 
	 	Name:  	David Chattleton 	 	 
	 	Title:  	Executive Director 	 	 
	 
	UBS SECURITIES LLC

 	 	 
	By:  	/s/ Roland du Luart
 	 	 
	 	Name:  	Roland du Luart 	 	 
	 	Title:  	Director 	 	 
	 	 	 
	By:  	                /s/ Jae Shin
 	 	 
	 	Name:  	Jae Shin 	 	 
	 	Title:  	Associate Director 	 	 
	 

For themselves and the other several Initial Purchasers named in Schedule I to the Purchase Agreement

Signature Page to Registration Rights Agreementexv4w1

Exhibit
4.1

AMENDED AND RESTATED CIT GROUP INC.

LONG-TERM INCENTIVE PLAN

1. Purposes of the Plan

     The purposes of the Plan are to (a) promote the long-term success of the Company and its
Subsidiaries and to increase stockholder value by providing Eligible Individuals with incentives to
contribute to the long-term growth and profitability of the Company by offering them an opportunity
to obtain a proprietary interest in the Company through the grant of equity-based awards and (b)
assist the Company in attracting, retaining and motivating highly qualified individuals who are in
a position to make significant contributions to the Company and its Subsidiaries.

2. Definitions and Rules of Construction

     (a) Definitions. For purposes of the Plan, the following capitalized words shall have the
meanings set forth below:

          “Affiliate” means any Parent or Subsidiary and any person that directly or indirectly
through one or more intermediaries, controls, is controlled by, or is under common control with,
the Company.

          “Award” means an Option, Restricted Stock, Restricted Stock Unit, Stock Appreciation
Right, Performance Stock, Performance Unit or Other Award granted by the Committee pursuant to the
terms of the Plan.

          “Award Document” means an agreement, certificate or other type or form of document or
documentation approved by the Committee that sets forth the terms and conditions of an Award. An
Award Document may be in written, electronic or other media, may be limited to a notation on the
books and records of the Company and, unless the Committee requires otherwise, need not be signed
by a representative of the Company or a Participant.

          “Beneficial Owner” and “Beneficially Owned” have the meaning set forth in Rule
13d-3 under the Exchange Act.

          “Board” means the Board of Directors of the Company, as constituted from time to time.

          “Change of Control” means:

     (i) Any Person becomes the Beneficial Owner, directly or indirectly, of securities of
the Company representing thirty-five percent (35%) or more of the combined voting power of
the Company’s then outstanding securities; or

     (ii) The following individuals cease for any reason to constitute a majority of the
number of directors then serving: individuals who, on the Effective Date, constitute

 

the Board and any new director (other than a director whose initial assumption of
office is in connection with an actual or threatened election contest, including, but not
limited to, a consent solicitation, relating to the election of directors of the Company)
whose appointment or election by the Board or nomination for election by the Company’s
stockholders was approved or recommended by a vote of at least a majority of the directors
then still in office who either were directors on the Effective Date or whose appointment,
election or nomination for election was previously so approved or recommended; or

     (iii) There is consummated a merger or consolidation of the Company or any Subsidiary
with any other corporation, other than (A) a merger or consolidation which would result in
the voting securities of the Company outstanding immediately prior to such merger or
consolidation continuing to represent (either by remaining outstanding or by being converted
into voting securities of the surviving entity or any parent thereof), in combination with
the ownership of any trustee or other fiduciary holding securities under an employee benefit
plan of the Company or any Subsidiary of the Company, more than fifty percent (50%) of the
combined voting power of the securities of the Company or such surviving entity or any
parent thereof outstanding immediately after such merger or consolidation, or (B) a merger
or consolidation effected to implement a recapitalization of the Company (or similar
transaction) in which no Person is or becomes the Beneficial Owner, directly or indirectly,
of securities of the Company representing thirty-five percent (35%) or more of the combined
voting power of the Company’s then outstanding securities; or

     (iv) The stockholders of the Company approve a plan of complete liquidation or
dissolution of the Company or there is consummated an agreement for the sale or disposition
by the company of all or substantially all of the Company’s assets, other than a sale or
disposition by the Company of all or substantially all of the Company’s assets to an entity,
more than fifty percent (50%) of the combined voting power of the voting securities of which
are owned by stockholders of the Company in substantially the same proportions as their
ownership of the Company immediately prior to such sale.

     Notwithstanding the foregoing, with respect to an Award that is subject to Section 409A of the
Code and the payment or settlement of the Award will accelerate upon a Change of Control, no event
set forth herein will constitute a Change of Control for purposes of the Plan or any Award Document
unless such event also constitutes a “change in ownership,” “change in effective control,” or
“change in the ownership of a substantial portion of the Company’s assets” as defined under Section
409A of the Code.

          “Code” means the Internal Revenue Code of 1986, as amended, and the applicable rulings
and regulations promulgated thereunder.

          “Committee” means the Compensation Committee of the Board, any successor committee
thereto or any other committee appointed from time to time by the Board to administer the Plan,
which committee shall meet the requirements of Section 162(m) of the Code, Section 16(b) of the
Exchange Act and the applicable rules of the NYSE; provided, however, that, if any Committee member
is found not to have met the qualification requirements of

2

 

Section 162(m) of the Code and Section 16(b) of the Exchange Act, any actions taken or Awards
granted by the Committee shall not be invalidated by such failure to so qualify.

          “Common Stock” means the common stock of the Company, par value $0.01 per share, or
such other class of share or other securities as may be applicable under Section 13 of the Plan.

          “Company” means CIT Group Inc., a Delaware corporation, or any successor to all or
substantially all of the Company’s business that adopts the Plan.

          “EBITDA” means earnings before interest, taxes, depreciation and amortization.

          “Effective Date” means the date on which the Modified Second Amended Prepackaged
Reorganization Plan of CIT Group Inc. and CIT Group Funding Company of Delaware becomes effective.

          “Eligible Individuals” means the individuals described in Section 4(a) of the Plan who
are eligible for Awards under the Plan.

          “Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules
and regulations promulgated thereunder.

          “Fair Market Value” means, with respect to a share of Common Stock, the fair market
value thereof as of the relevant date of determination, as determined in accordance with the
valuation methodology approved by the Committee. In the absence of any alternative valuation
methodology approved by the Committee, the Fair Market Value of a share of Common Stock shall equal
the closing selling price of a share of Common Stock on the trading day immediately preceding the
date on which such valuation is made as reported on the composite tape for securities listed on the
NYSE, or such national securities exchange as may be designated by the Committee, or, in the event
that the Common Stock is not listed for trading on the NYSE or such other national securities
exchange as may be designated by the Committee but is quoted on an automated system, in any such
case on the valuation date (or, if there were no sales on the valuation date, the average of the
highest and lowest quoted selling prices as reported on said composite tape or automated system for
the most recent day during which a sale occurred).

          “Incentive Stock Option” means an Option that is intended to comply with the
requirements of Section 422 of the Code or any successor provision thereto.

          “Modified Second Amended Prepackaged Reorganization Plan of CIT Group Inc. and CIT Group
Funding Company of Delaware” means the Modified Second Amended Prepackaged Reorganization Plan
of CIT Group Inc. and CIT Group Funding Company of Delaware filed with the United States Bankruptcy
Court Southern District of New York on November 1, 2009.

          “Non-Employee Director” means any member of the Board who is not an officer or
employee of the Company or any Subsidiary.

3

 

          “Nonqualified Stock Option” means an Option that is not intended to comply with the
requirements of Section 422 of the Code or any successor provision thereto.

          “NYSE” means the New York Stock Exchange.

          “Option” means an Incentive Stock Option or Nonqualified Stock Option granted pursuant
to Section 7 of the Plan.

          “Other Award” means any form of Award other than an Option, Restricted Stock,
Restricted Stock Unit or Stock Appreciation Right granted pursuant to Section 11 of the Plan.

          “Parent” means a corporation which owns or beneficially owns a majority of the
outstanding voting stock or voting power of the Company. Notwithstanding the above, with respect to
an Incentive Stock Option, Parent shall have the meaning set forth in Section 424(e) of the Code.

          “Participant” means an Eligible Individual who has been granted an Award under the
Plan.

          “Performance Period” means the period established by the Committee and set forth in
the applicable Award Document over which Performance Targets are measured.

          “Performance Stock” means a Target Number of Shares granted pursuant to Section 10(a)
of the Plan.

          “Performance Target” means the performance measures established by the Committee, from
among the performance criteria provided in Section 6(g), and set forth in the applicable Award
Document.

          “Performance Unit” means a right to receive a Target Number of Shares or cash in the
future granted pursuant to Section 10(b) of the Plan.

          “Permitted Transferees” means (i) a Participant’s family member, (ii) one or more
trusts established in whole or in part for the benefit of one or more of such family members, (iii)
one or more entities which are beneficially owned in whole or in part by one or more such family
members, or (iv) a charitable or not-for-profit organization.

          “Person” means any person, entity or “group” within the meaning of Section 13(d)(3) or
Section 14(d)(2) of the Exchange Act, except that such term shall not include (i) the Company or
any of its Subsidiaries, (ii) a trustee or other fiduciary holding securities under an employee
benefit plan of the Company or any of its Affiliates, (iii) an underwriter temporarily holding
securities pursuant to an offering of such securities, (iv) a corporation owned, directly or
indirectly, by the stockholders of the Company in substantially the same proportions as their
ownership of stock of the Company, or (v) a person or group as used in Rule 13d-1(b) under the
Exchange Act.

          “Plan” means this Amended and Restated CIT Group Inc. Long-Term Incentive Plan, as
amended or restated from time to time.

4

 

          “Plan Limit” means the maximum aggregate number of Shares that may be issued for all
purposes under the Plan as set forth in
Section 5(a) of the Plan.

          “Restricted Stock” means one or more Shares granted or sold pursuant to Section 8(a)
of the Plan.

          “Restricted Stock Unit” means a right to receive one or more Shares (or cash, if
applicable) in the future granted pursuant to Section 8(b) of the Plan.

          “Shares” means shares of Common Stock, as may be adjusted pursuant to Section 13(b).

          “Stock Appreciation Right” means a right to receive all or some portion of the
appreciation on Shares granted pursuant to Section 9 of the Plan.

          “Subsidiary” means (i) a corporation or other entity with respect to which the
Company, directly or indirectly, has the power, whether through the ownership of voting securities,
by contract or otherwise, to elect at least a majority of the members of such corporation’s board
of directors or analogous governing body, or (ii) any other corporation or other entity in which
the Company, directly or indirectly, has an equity or similar interest and which the Committee
designates as a Subsidiary for purposes of the Plan. For purposes of determining eligibility for
the grant of Incentive Stock Options under the Plan, the term “Subsidiary” shall be defined in the
manner required by Section 424(f) of the Code.

          “Substitute Award” means any Award granted upon assumption of, or in substitution or
exchange for, outstanding employee equity awards previously granted by a company or other entity
acquired by the Company or with which the Company combines pursuant to the terms of an equity
compensation plan that was approved by the stockholders of such company or other entity.

          “Target Number” means the target number of Shares or cash value established by the
Committee and set forth in the applicable Award Document.

     (b) Rules of Construction. The masculine pronoun shall be deemed to include the feminine
pronoun, and the singular form of a word shall be deemed to include the plural form, unless the
context requires otherwise. Unless the text indicates otherwise, references to sections are to
sections of the Plan.

5

 

3. Administration

     (a) Committee. The Plan shall be administered by the Committee, which shall have full power
and authority, subject to the express provisions hereof, to:

     (i) select the Participants from the Eligible Individuals;

     (ii) grant Awards in accordance with the Plan;

     (iii) determine the number of Shares subject to each Award or the cash amount payable
in connection with an Award;

     (iv) determine the terms and conditions of each Award, including, without limitation,
those related to term, permissible methods of exercise, vesting, cancellation, payment,
settlement, exercisability, Performance Periods, Performance Targets, and the effect, if
any, of a Participant’s termination of employment with the Company or any of its
Subsidiaries or, subject to Section 6(d), a Change of Control of the Company;

     (v) subject to Sections 16 and 17(e) of the Plan, amend the terms and conditions of an
Award after the granting thereof;

     (vi) specify and approve the provisions of the Award Documents delivered to
Participants in connection with their Awards;

     (vii) construe and interpret any Award Document delivered under the Plan;

     (viii) make factual determinations in connection with the administration or
interpretation of the Plan;

     (ix) adopt, prescribe, amend, waive and rescind administrative regulations, rules and
procedures relating to the Plan;

     (x) employ such legal counsel, independent auditors and consultants as it deems
desirable for the administration of the Plan and to rely upon any advice, opinion or
computation received therefrom;

     (xi) vary the terms of Awards to take account of tax and securities law and other
regulatory requirements or to procure favorable tax treatment for Participants;

     (xii) correct any defects, supply any omission or reconcile any inconsistency in any
Award Document or the Plan; and

     (xiii) make all other determinations and take any other action desirable or necessary
to interpret, construe or implement properly the provisions of the Plan or any Award
Document.

     (b) Plan Construction and Interpretation. The Committee shall have full power and authority,
subject to the express provisions hereof, to construe and interpret the Plan.

6

 

     (c) Determinations of Committee Final and Binding. All determinations by the Committee in
carrying out and administering the Plan and in construing and interpreting the Plan shall be made
in the Committee’s sole discretion and shall be final, binding and conclusive for all purposes and
upon all persons interested herein.

     (d) Delegation of Authority. To the extent not prohibited by applicable laws, rules and
regulations, the Committee may, from time to time, delegate some or all of its authority under the
Plan to a subcommittee or subcommittees thereof or other persons or groups of persons as it deems
necessary, appropriate or advisable under such conditions or limitations as it may set at the time
of such delegation or thereafter; provided, however, that the Committee may not delegate its
authority (i) to make Awards to employees (A) who are subject on the date of the Award to the
reporting rules under Section 16(a) of the Exchange Act, (B) whose compensation for such fiscal
year may be subject to the limit on deductible compensation pursuant to Section 162(m) of the Code
or (C) who are officers of the Company who are delegated authority by the Committee hereunder, or
(ii) pursuant to Section 16 of the Plan. For purposes of the Plan, reference to the Committee
shall be deemed to refer to any subcommittee, subcommittees, or other persons or groups of persons
to whom the Committee delegates authority pursuant to this Section 3(d).

     (e) Liability of Committee. Subject to applicable laws, rules and regulations: (i) no member
of the Board or Committee (or its delegates) shall be liable for any good faith action or
determination made in connection with the operation, administration or interpretation of the Plan
and (ii) the members of the Board or the Committee (and its delegates) shall be entitled to
indemnification and reimbursement in the manner provided in the Company’s Certificate of
Incorporation as it may be amended from time to time. In the performance of its responsibilities
with respect to the Plan, the Committee shall be entitled to rely upon information and/or advice
furnished by the Company’s officers or employees, the Company’s accountants, the Company’s counsel
and any other party the Committee deems necessary, and no member of the Committee shall be liable
for any action taken or not taken in reliance upon any such information and/or advice.

     (f) Action by the Board. Anything in the Plan to the contrary notwithstanding, subject to
applicable laws, rules and regulations, any authority or responsibility that, under the terms of
the Plan, may be exercised by the Committee may alternatively be exercised by the Board.

4. Eligibility

     (a) Eligible Individuals. Awards may be granted to officers, employees, directors,
Non-Employee Directors, consultants, advisors and independent contractors of the Company or any of
its Subsidiaries or joint ventures, partnerships or business organizations in which the Company or
its Subsidiaries have an equity interest; provided, however, that only employees of the Company or
a Parent or Subsidiary may be granted Incentive Stock Options. The Committee shall have the
authority to select the persons to whom Awards may be granted and to determine the type, number and
terms of Awards to be granted to each such Participant. Under the Plan, references to “employment”
or “employed” include the engagement of Participants who are consultants, advisors and independent
contractors of the Company or its Subsidiaries and the

7

 

service of Participants who are Non-Employee Directors, except for purposes of determining
eligibility to be granted Incentive Stock Options.

     (b) Grants to Participants. The Committee shall have no obligation to grant any Eligible
Individual an Award or to designate an Eligible Individual as a Participant solely by reason of
such Eligible Individual having received a prior Award or having been previously designated as a
Participant. The Committee may grant more than one Award to a Participant and may designate an
Eligible Individual as a Participant for overlapping periods of time.

5. Shares Subject to the Plan

     (a) Plan Limit. Subject to adjustment in accordance with Section 13 of the Plan, the maximum
aggregate number of Shares that may be issued for all purposes under the Plan shall be 10,526,316.
Shares to be issued under the Plan may be authorized and unissued shares, issued shares that have
been reacquired by the Company (in the open-market or in private transactions) and that are being
held in treasury, or a combination thereof. All of the Shares subject to the Plan Limit may be
issued pursuant to Incentive Stock Options.

     (b) Rules Applicable to Determining Shares Available for Issuance. The number of Shares
remaining available for issuance will be reduced by the number of Shares subject to outstanding
Awards and, for Awards that are not denominated by Shares, by the number of Shares actually
delivered upon settlement or payment of the Award. For purposes of determining the number of
Shares that remain available for issuance under the Plan, (i) the number of Shares that are
tendered by a Participant or withheld by the Company to pay the exercise price of an Award or to
satisfy the Participant’s tax withholding obligations in connection with the exercise or settlement
of an Award and (ii) all of the Shares covered by a stock-settled Stock Appreciation Right to the
extent exercised, will not be added back to the Plan Limit. In addition, for purposes of
determining the number of Shares that remain available for issuance under the Plan, the number of
Shares corresponding to Awards under the Plan that are forfeited or cancelled or otherwise expire
for any reason without having been exercised or settled or that is settled through issuance of
consideration other than Shares (including, without limitation, cash) shall be added back to the
Plan Limit and again be available for the grant of Awards; provided, however, that this provision
shall not be applicable with respect to (i) the cancellation of a Stock Appreciation Right granted
in tandem with an Option upon the exercise of the Option or (ii) the cancellation of an Option
granted in tandem with a Stock Appreciation Right upon the exercise of the Stock Appreciation.

     (c) Special Limits. Anything to the contrary in Section 5(a) above notwithstanding, but
subject to adjustment under Section 13 of the Plan, the following special limits shall apply to
Shares available for Awards under the Plan:

     (i) the maximum number of Shares that may be issued pursuant to Options and Stock
Appreciation Rights granted to any Eligible Individual in any calendar year shall equal
3,157,894 Shares; and

     (ii) the maximum amount of Awards (other than those Awards set forth in Section
5(c)(i)) that may be awarded to any Eligible Individual in any calendar year is ten

8

 

million dollars ($10,000,000) measured as of the date of grant (with respect to Awards
denominated in cash) or 3,157,894 Shares measured as of the date of grant (with respect to
Awards denominated in Shares).

     (d) Any Shares underlying Substitute Awards shall not be counted against the number of Shares
remaining for issuance and shall not be subject to Section 5(c).

6. Awards in General

     (a) Types of Awards. Awards under the Plan may consist of Options, Restricted Stock,
Restricted Stock Units, Stock Appreciation Rights, Performance Stock, Performance Units and Other
Awards. Any Award described in Sections 7 through 11 of the Plan may be granted singly or in
combination or tandem with any other Award, as the Committee may determine. Awards under the Plan
may be made in combination with, in replacement of, or as alternatives to awards or rights under
any other compensation or benefit plan of the Company, including the plan of any acquired entity.

     (b) Terms Set Forth in Award Document. The terms and conditions of each Award shall be set
forth in an Award Document in a form approved by the Committee for such Award, which Award Document
shall contain terms and conditions not inconsistent with the Plan. Notwithstanding the foregoing,
and subject to applicable laws, the Committee may accelerate (i) the vesting or payment of any
Award, (ii) the lapse of restrictions on any Award or (iii) the date on which any Award first
becomes exercisable. The terms of Awards may vary among Participants, and the Plan does not impose
upon the Committee any requirement to make Awards subject to uniform terms. Accordingly, the terms
of individual Award Documents may vary.

     (c) Termination of Employment. The Committee shall specify at or after the time of grant of an
Award the provisions governing the disposition of an Award in the event of a Participant’s
termination of employment with the Company or any of its Subsidiaries. Subject to applicable laws,
rules and regulations, in connection with a Participant’s termination of employment, the Committee
shall have the discretion to accelerate the vesting, exercisability or settlement of, eliminate the
restrictions and conditions applicable to, or extend the post-termination exercise period of an
outstanding Award. Such provisions may be specified in the applicable Award Document or determined
at a subsequent time.

     (d) Change of Control. (i) The Committee shall have full authority to determine the effect, if
any, of a Change of Control of the Company or any Subsidiary on the vesting, exercisability,
settlement, payment or lapse of restrictions applicable to an Award, which effect may be specified
in the applicable Award Document or determined at a subsequent time. Subject to applicable laws,
rules and regulations, the Board or the Committee shall, at any time prior to, coincident with or
after the effective time of a Change of Control, take such actions as it may consider appropriate,
including, without limitation: (A) providing for the acceleration of any vesting conditions
relating to the exercise or settlement of an Award or that an Award shall terminate or expire
unless exercised or settled in full on or before a date fixed by the Committee; (B) making such
adjustments to the Awards then outstanding as the Committee deems appropriate to reflect such
Change of Control; (C) causing the Awards then outstanding to be assumed, or new rights substituted
therefor, by the surviving corporation in such Change of

9

 

Control; or (D) permit or require Participants to surrender outstanding Options and Stock
Appreciation Rights in exchange for a cash payment equal to the difference between the highest
price paid for a Share in the Change of Control transaction and the Exercise Price of the Award.

     (ii) Subject to applicable laws, rules and regulations, the Committee may provide, in an
Award Document or subsequent to the grant of an Award for the accelerated vesting,
exercisability and/or the deemed attainment of a Performance Target with respect to an Award
upon specified events similar to a Change of Control.

     (iii) Notwithstanding any other provision of the Plan or any Award Document, the
provisions of this Section 6(d) may not be terminated, amended, or modified upon or after a
Change of Control in a manner that would adversely affect a Participant’s rights with
respect to an outstanding Award without the prior written consent of the Participant.
Subject to Section 16, the Board, upon recommendation of the Committee, may terminate, amend
or modify this Section 6(d) at any time and from time to time prior to a Change of Control.

     (e) Dividends and Dividend Equivalents. The Committee may provide Participants with the right
to receive dividends or payments equivalent to dividends or interest with respect to an outstanding
Award, which payments can either be paid currently or deemed to have been reinvested in Shares, and
can be made in Shares, cash or a combination thereof, as the Committee shall determine;
provided, however, that the terms of any reinvestment of dividends must comply with
all applicable laws, rules and regulations, including, without limitation, Section 409A of the
Code. Notwithstanding the foregoing, no dividends or dividend equivalents shall be paid with
respect to Options or Stock Appreciation Rights.

     (f) Rights of a Stockholder. A Participant shall have no rights as a stockholder with respect
to Shares covered by an Award (including voting rights) until the date the Participant or his
nominee becomes the holder of record of such Shares. No adjustment shall be made for dividends or
other rights for which the record date is prior to such date, except as provided in Section 13.

     (g) Performance-Based Awards. (i) The Committee may determine whether any Award under the Plan
is intended to be “performance-based compensation” as that term is used in Section 162(m) of the
Code. Any such Awards designated to be “performance-based compensation” shall be conditioned on
the achievement of one or more Performance Targets to the extent required by Section 162(m) of the
Code and will be subject to all other conditions and requirements of Section 162(m). The
Performance Targets will be comprised of specified levels of one or more of the following
performance criteria as the Committee deems appropriate: net income; cash flow or cash flow on
investment; pre-tax or post-tax profit levels or earnings; operating earnings; return on
investment; earned value added expense reduction levels; free cash flow; free cash flow per share;
earnings per share; net earnings per share; return on assets; return on net assets; return on
equity; return on capital; return on sales; growth in managed assets; operating margin; total
stockholder return or stock price appreciation; EBITDA; adjusted EBITDA; revenue; revenue before
deferral, in each case determined in accordance with generally accepted accounting principles
(subject to modifications approved by the Committee) consistently applied on a business unit,
divisional, subsidiary or consolidated basis or any

10

 

combination thereof. The Performance Targets may be described in terms of objectives that are
related to the individual Participant or objectives that are Company-wide or related to a
Subsidiary, division, department, region, function or business unit and may be measured on an
absolute or cumulative basis or on the basis of percentage of improvement over time, and may be
measured in terms of Company performance (or performance of the applicable Subsidiary, division,
department, region, function or business unit) or measured relative to selected peer companies or a
market index. In addition, for Awards not intended to qualify as “performance-based compensation”
under Section 162(m) of the Code, the Committee may establish Performance Targets based on other
criteria as it deems appropriate.

     (ii) The Participants will be designated, and the applicable Performance Targets will be
established, by the Committee within ninety (90) days following the commencement of the
applicable Performance Period (or such earlier or later date permitted or required by
Section 162(m) of the Code). Each Participant will be assigned a Target Number payable if
Performance Targets are achieved. Any payment of an Award granted with Performance Targets
shall be conditioned on the written certification of the Committee in each case that the
Performance Targets and any other material conditions were satisfied. The Committee may
determine, at the time of Award grant, that if performance exceeds the specified Performance
Targets, the Award may be settled with payment greater than the Target Number, but in no
event may such payment exceed the limits set forth in Section 5(c). The Committee retains
the right to reduce any Award notwithstanding the attainment of the Performance Targets.

     (h) Deferrals. In accordance with the procedures authorized by, and subject to the approval
of, the Committee, Participants may be given the opportunity to defer the payment or settlement of
an Award to one or more dates selected by the Participant; provided, however, that
the terms of any deferrals must comply with all applicable laws, rules and regulations, including,
without limitation, Section 409A of the Code. No deferral opportunity shall exist with respect to
an Award unless explicitly permitted by the Committee on or after the time of grant.

     (i) Repricing of Options and Stock Appreciation Rights. Except in connection with a
corporate transaction involving the Company (including, without limitation, any stock dividend,
stock split, extraordinary cash dividend, recapitalization, reorganization, merger, consolidation,
split-up, spin-off, combination, or exchange of Shares), the terms of outstanding Awards may not be
amended, without stockholder approval, to reduce the exercise price of outstanding Options or Stock
Appreciation Rights, or to cancel outstanding Options or Stock Appreciation Rights in exchange for
cash, other Awards, or Options or Stock Appreciation Rights with an exercise price that is less
than the exercise price of the original Options or Stock Appreciation Rights.

11

 

7. Terms and Conditions of Options

     (a) General. The Committee, in its discretion, may grant Options to Eligible Individuals and
shall determine whether such Options shall be Incentive Stock Options or Nonqualified Stock
Options. Each Option shall be evidenced by an Award Document that shall expressly identify the
Option as an Incentive Stock Option or Nonqualified Stock Option, and be in such form and contain
such provisions as the Committee shall from time to time deem appropriate.

     (b) Exercise Price. The exercise price of an Option shall be fixed by the Committee at the
time of grant or shall be determined by a method specified by the Committee at the time of grant.
In no event shall the exercise price of an Option be less than one hundred percent (100%) of the
Fair Market Value of a Share on the date of grant; provided, however that the
exercise price of a Substitute Award granted as an Option shall be determined in accordance with
Section 409A of the Code and may be less than one hundred percent (100%) of the Fair Market Value.

     (c) Term. An Option shall be effective for such term as shall be determined by the Committee
and as set forth in the Award Document relating to such Option, and the Committee may extend the
term of an Option after the time of grant; provided, however, that the term of an
Option may in no event extend beyond the seventh (7th) anniversary of the date of grant of such
Option.

     (d) Exercise; Payment of Exercise Price. Options shall be exercised by delivery of a notice of
exercise in a form approved by the Company. To the extent permitted by the provisions of the
applicable Award Document, the exercise price of an Option may be paid (i) in cash or cash
equivalents, (ii) by actual delivery or attestation to ownership of freely transferable Shares
already owned by the person exercising the Option, (iii) by a combination of cash and Shares equal
in value to the exercise price, (iv) through net share settlement or similar procedure involving
the withholding of Shares subject to the Option with a value equal to the exercise price or (v) by
such other means as the Committee may authorize. In accordance with the rules and procedures
authorized by the Committee for this purpose, the Option may also be exercised through a “cashless
exercise” procedure authorized by the Committee from time to time that permits Participants to
exercise Options by delivering irrevocable instructions to a broker to deliver promptly to the
Company the amount of sale or loan proceeds necessary to pay the exercise price and the amount of
any required tax or other withholding obligations or such other procedures determined by the
Company from time to time.

     (e) Incentive Stock Options. The exercise price per Share of an Incentive Stock Option shall
be fixed by the Committee at the time of grant or shall be determined by a method specified by the
Committee at the time of grant, but in no event shall the exercise price of an Incentive Stock
Option be less than one hundred percent (100%) of the Fair Market Value of a Share on the date of
grant. No Incentive Stock Option may be issued pursuant to the Plan to any individual who, at the
time the Incentive Stock Option is granted, owns stock possessing more than ten percent (10%) of
the total combined voting power of all classes of stock of the Company or any of its Subsidiaries,
unless (i) the exercise price determined as of the date of grant is at least one hundred ten
percent (110%) of the Fair Market Value on the date of grant of the Shares subject to such
Incentive Stock Option and (ii) the Incentive Stock Option is not exercisable

12

 

more than five (5) years from the date of grant thereof. No Participant shall be granted any
Incentive Stock Option which would result in such Participant receiving a grant of Incentive Stock
Options that would have an aggregate Fair Market Value in excess of one hundred thousand dollars
($100,000), determined as of the time of grant, that would be exercisable for the first time by
such Participant during any calendar year. No Incentive Stock Option may be granted under the Plan
after the tenth anniversary of the Effective Date. The terms of any Incentive Stock Option granted
under the Plan shall comply in all respects with the provisions of Section 422 of the Code, or any
successor provision thereto, as amended from time to time.

8. Terms and Conditions of Restricted Stock and Restricted Stock Units

     (a) Restricted Stock. The Committee, in its discretion, may grant or sell Restricted Stock to
Eligible Individuals. An Award of Restricted Stock shall consist of one or more Shares granted or
sold to an Eligible Individual, and shall be subject to the terms, conditions and restrictions set
forth in the Plan and established by the Committee in connection with the Award and specified in
the applicable Award Document. Restricted Stock may, among other things, be subject to
restrictions on transferability, vesting requirements or other specified circumstances under which
it may be canceled.

     (b) Restricted Stock Units. The Committee, in its discretion, may grant Restricted Stock Units
to Eligible Individuals. A Restricted Stock Unit shall entitle a Participant to receive, subject
to the terms, conditions and restrictions set forth in the Plan and the applicable Award Document,
one or more Shares. Restricted Stock Units may, among other things, be subject to restrictions on
transferability, vesting requirements or other specified circumstances under which they may be
canceled. If and when the cancellation provisions lapse, the Restricted Stock Units shall become
Shares owned by the applicable Participant or, at the sole discretion of the Committee, cash, or a
combination of cash and Shares, with a value equal to the Fair Market Value of the Shares at the
time of payment.

9. Stock Appreciation Rights

     (a) General. The Committee, in its discretion, may grant Stock Appreciation Rights to Eligible
Individuals. A Stock Appreciation Right shall entitle a Participant to receive, upon satisfaction
of the conditions to payment specified in the applicable Award Document, an amount equal to the
excess, if any, of the Fair Market Value on the exercise date of the number of Shares for which the
Stock Appreciation Right is exercised over the grant price for such Stock Appreciation Right
specified in the applicable Award Document. The grant price per share of Shares covered by a Stock
Appreciation Right shall be fixed by the Committee at the time of grant or, alternatively, shall be
determined by a method specified by the Committee at the time of grant, but in no event shall the
grant price of a Stock Appreciation Right be less than one hundred percent (100%) of the Fair
Market Value of a Share on the date of grant; provided, however, that the grant
price of a Substitute Award granted as a Stock Appreciation Rights shall be in accordance with
Section 409A of the Code and may be less than one hundred percent (100%) of the Fair Market Value.
Payments to a Participant upon exercise of a Stock Appreciation Right may be made in cash or
Shares, having an aggregate Fair Market Value as of the date of exercise equal to the excess, if
any, of the Fair Market Value on the exercise date of the number of Shares for which the Stock
Appreciation Right is exercised over the grant price for

13

 

such Stock Appreciation Right. The term of a Stock Appreciation Right settled in Shares shall
not exceed seven (7) years.

     (b) Stock Appreciation Rights in Tandem with Options. A Stock Appreciation Right granted in
tandem with an Option may be granted either at the same time as such Option or subsequent thereto.
If granted in tandem with an Option, a Stock Appreciation Right shall cover the same number of
Shares as covered by the Option (or such lesser number of shares as the Committee may determine)
and shall be exercisable only at such time or times and to the extent the related Option shall be
exercisable, and shall have the same term as the related Option. The grant price of a Stock
Appreciation Right granted in tandem with an Option shall equal the per-share exercise price of the
Option to which it relates. Upon exercise of a Stock Appreciation Right granted in tandem with an
Option, the related Option shall be canceled automatically to the extent of the number of Shares
covered by such exercise; conversely, if the related Option is exercised as to some or all of the
shares covered by the tandem grant, the tandem Stock Appreciation Right shall be canceled
automatically to the extent of the number of Shares covered by the Option exercise.

10. Terms and Conditions of Performance Stock and Performance Units

     (a) Performance Stock. The Committee may grant Performance Stock to Eligible Individuals. An
Award of Performance Stock shall consist of a Target Number of Shares granted to an Eligible
Individual based on the achievement of Performance Targets over the applicable Performance Period,
and shall be subject to the terms, conditions and restrictions set forth in the Plan and
established by the Committee in connection with the Award and specified in the applicable Award
Document.

     (b) Performance Units. The Committee, in its discretion, may grant Performance Units to
Eligible Individuals. A Performance Unit shall entitle a Participant to receive, subject to the
terms, conditions and restrictions set forth in the Plan and established by the Committee in
connection with the Award and specified in the applicable Award Document, a Target Number of Shares
or cash based upon the achievement of Performance Targets over the applicable Performance Period.
At the sole discretion of the Committee, Performance Units shall be settled through the delivery of
Shares or cash, or a combination of cash and Shares, with a value equal to the Fair Market Value of
the underlying Shares as of the last day of the applicable Performance Period.

11. Other Awards

     The Committee shall have the authority to specify the terms and provisions of other forms of
equity-based or equity-related Awards not described above that the Committee determines to be
consistent with the purpose of the Plan and the interests of the Company, which Awards may provide
for cash payments based in whole or in part on the value or future value of Shares, for the
acquisition or future acquisition of Shares, or any combination thereof.

12. Certain Restrictions

     (a) Transfers. No Award shall be transferable other than pursuant to a beneficiary designation
under Section 12(c), by last will and testament or by the laws of descent and

14

 

distribution or, except in the case of an Incentive Stock Option, pursuant to a domestic
relations order, as the case may be; provided, however, that the Committee may,
subject to applicable laws, rules and regulations and such terms and conditions as it shall
specify, permit the transfer of an Award, other than an Incentive Stock Option, for no
consideration to a Permitted Transferee. Any Award transferred to a Permitted Transferee shall be
further transferable only by last will and testament or the laws of descent and distribution or,
for no consideration, to another Permitted Transferee of the Participant.

     (b) Award Exercisable Only by Participant. During the lifetime of a Participant, an Award
shall be exercisable only by the Participant or by a Permitted Transferee to whom such Award has
been transferred in accordance with Section 12(a) above. The grant of an Award shall impose no
obligation on a Participant to exercise or settle the Award.

     (c) Beneficiary Designation. The beneficiary or beneficiaries of the Participant to whom any
benefit under the Plan is to be paid in case of his death before he receives any or all of such
benefit shall be determined under the Company’s Group Life Insurance Plan. A Participant may, from
time to time, name any beneficiary or beneficiaries to receive any benefit in case of his death
before he receives any or all of such benefit. Each such designation shall revoke all prior
designations by the same Participant, including the beneficiary designated under the Company’s
Group Life Insurance Plan, and will be effective only when filed by the Participant in writing (in
such form or manner as may be prescribed by the Committee) with the Company during the
Participant’s lifetime. In the absence of a valid designation under the Company’s Group Life
Insurance Plan or otherwise, if no validly designated beneficiary survives the Participant or if
each surviving validly designated beneficiary is legally impaired or prohibited from receiving the
benefits under an Award, the Participant’s beneficiary shall be the Participant’s estate.

13. Recapitalization or Reorganization

     (a) Authority of the Company and Stockholders. The existence of the Plan, the Award Documents
and the Awards granted hereunder shall not affect or restrict in any way the right or power of the
Company or the stockholders of the Company to make or authorize any adjustment, recapitalization,
reorganization or other change in the Company’s capital structure or business, any merger or
consolidation of the Company, any issue of stock or of options, warrants or rights to purchase
stock or of bonds, debentures, preferred or prior preference stocks whose rights are superior to or
affect the Shares or the rights thereof or which are convertible into or exchangeable for Shares,
or the dissolution or liquidation of the Company, or any sale or transfer of all or any part of its
assets or business, or any other corporate act or proceeding, whether of a similar character or
otherwise.

     (b) Change in Capitalization. Notwithstanding any provision of the Plan or any Award Document,
the number and kind of Shares authorized for issuance under Section 5 of the Plan, including the
maximum number of Shares available under the special limits provided for in Section 5(c), shall be
equitably adjusted in the manner deemed necessary by the Committee in the event of a stock split,
reverse stock spit, stock dividend, recapitalization, reorganization, partial or complete
liquidation, reclassification, merger, consolidation, separation, extraordinary cash dividend,
split-up, spin-off, combination, exchange of Shares, warrants or rights offering to

15

 

purchase Shares at a price substantially below Fair Market Value, or any other corporate event
or distribution of stock or property of the Company affecting the Shares in order to preserve, but
not increase, the benefits or potential benefits intended to be made available under the Plan. In
addition, upon the occurrence of any of the foregoing events, the number and kind of Shares subject
to any outstanding Award and the exercise price per Share (or the grant price per Share, as the
case may be), if any, under any outstanding Award shall be equitably adjusted in the manner deemed
necessary by the Committee (including by payment of cash to a Participant) in order to preserve the
benefits or potential benefits intended to be made available to Participants. Such adjustments
shall be made by the Committee. Unless otherwise determined by the Committee, such adjusted Awards
shall be subject to the same restrictions and vesting or settlement schedule to which the
underlying Award is subject.

14. Term of the Plan

     Unless earlier terminated pursuant to Section 16, the Plan shall terminate on the tenth (10th)
anniversary of the Effective Date, except with respect to Awards then outstanding. No Awards may
be granted under the Plan after the tenth (10th) anniversary of the Effective Date.

15. Effective Date

     The Plan shall become effective on the Effective Date, subject to approval by the stockholders
of the Company.

16. Amendment and Termination

     Subject to applicable laws, rules and regulations, the Board may at any time terminate or,
from time to time, amend, modify or suspend the Plan; provided, however, that no
termination, amendment, modification or suspension (i) will be effective without the approval of
the stockholders of the Company if such approval is required under applicable laws, rules and
regulations, including the rules of NYSE and (ii) shall materially and adversely alter or impair
the rights of a Participant in any Award previously made under the Plan without the consent of the
holder thereof. Notwithstanding the foregoing, the Board shall have broad authority to amend the
Plan or any Award under the Plan without the consent of a Participant to the extent it deems
necessary or desirable (a) to comply with, take into account changes in, or interpretations of,
applicable tax laws, securities laws, employment laws, accounting rules and other applicable laws,
rules and regulations, (b) to take into account unusual or nonrecurring events or market conditions
(including, without limitation, the events described in Section 13(b)), or (c) to take into account
significant acquisitions or dispositions of assets or other property by the Company.

17. Miscellaneous

     (a) Tax Withholding. The Company or a Subsidiary, as appropriate, may require any individual
entitled to receive a payment of an Award to remit to the Company, prior to payment, an amount
sufficient to satisfy any applicable tax withholding requirements. In the case of an Award payable
in Shares, the Company or a Subsidiary, as appropriate, may permit or require a Participant to
satisfy, in whole or in part, such obligation to remit taxes by directing the Company to withhold
shares that would otherwise be received by such individual or to repurchase shares that were issued
to the Participant to satisfy the minimum statutory

16

 

withholding rates for any applicable tax withholding purposes, in accordance with all
applicable laws and pursuant to such rules as the Committee may establish from time to time. The
Company or a Subsidiary, as appropriate, shall also have the right to deduct from all cash payments
made to a Participant (whether or not such payment is made in connection with an Award) any
applicable taxes required to be withheld with respect to such payments.

     (b) No Right to Awards or Employment. No person shall have any claim or right to receive
Awards under the Plan. Neither the Plan, the grant of Awards under the Plan nor any action taken or
omitted to be taken under the Plan shall be deemed to create or confer on any Eligible Individual
any right to be retained in the employ of the Company or any Subsidiary or other affiliate thereof,
or to interfere with or to limit in any way the right of the Company or any Subsidiary or other
affiliate thereof to terminate the employment of such Eligible Individual at any time. No Award
shall constitute salary, recurrent compensation or contractual compensation for the year of grant,
any later year or any other period of time. Payments received by a Participant under any Award made
pursuant to the Plan shall not be included in, nor have any effect on, the determination of
employment-related rights or benefits under any other employee benefit plan or similar arrangement
provided by the Company and the Subsidiaries, unless otherwise specifically provided for under the
terms of such plan or arrangement or by the Committee.

     (c) Securities Law Restrictions. An Award may not be exercised or settled, and no Shares may
be issued in connection with an Award, unless the issuance of such shares (i) has been registered
under the Securities Act of 1933, as amended, (ii) has qualified under applicable state “blue sky”
laws (or the Company has determined that an exemption from registration and from qualification
under such state “blue sky” laws is available) and (iii) complies with all applicable foreign
securities laws. The Committee may require each Participant purchasing or acquiring Shares pursuant
to an Award under the Plan to represent to and agree with the Company in writing that such Eligible
Individual is acquiring the Shares for investment purposes and not with a view to the distribution
thereof. All certificates for Shares delivered under the Plan shall be subject to such
stock-transfer orders and other restrictions as the Committee may deem advisable under the rules,
regulations, and other requirements of the Securities and Exchange Commission, any exchange upon
which the Shares are then listed, and any applicable securities law, and the Committee may cause a
legend or legends to be put on any such certificates to make appropriate reference to such
restrictions.

     (d) Section 162(m) of the Code. The Plan is intended to comply in all respects with Section
162(m) of the Code; provided, however, that in the event the Committee determines
that compliance with Section 162(m) of the Code is not desired with respect to a particular Award,
compliance with Section 162(m) of the Code will not be required. In addition, if any provision of
this Plan would cause Awards that are intended to constitute “qualified performance-based
compensation” under Section 162(m) of the Code, to fail to so qualify, that provision shall be
severed from, and shall be deemed not to be a part of, the Plan, but the other provisions hereof
shall remain in full force and effect.

     (e) Section 409A of the Code. Notwithstanding any contrary provision in the Plan or an Award
Document, if any provision of the Plan or an Award Document contravenes any regulations or guidance
promulgated under Section 409A of the Code or would cause an Award

17

 

to be subject to additional taxes, accelerated taxation, interest and/or penalties under
Section 409A of the Code, such provision of the Plan or Award Document may be modified by the
Committee without consent of the Participant in any manner the Committee deems reasonable or
necessary. In making such modifications the Committee shall attempt, but shall not be obligated, to
maintain, to the maximum extent practicable, the original intent of the applicable provision
without contravening the provisions of Section 409A of the Code. Moreover, any discretionary
authority that the Committee may have pursuant to the Plan shall not be applicable to an Award that
is subject to Section 409A of the Code to the extent such discretionary authority would contravene
Section 409A of the Code or the guidance promulgated thereunder.

     (f) Awards to Individuals Subject to Laws of a Jurisdiction Outside of the United States. To
the extent that Awards under the Plan are awarded to Eligible Individuals who are domiciled or
resident outside of the United States or to persons who are domiciled or resident in the United
States but who are subject to the tax laws of a jurisdiction outside of the United States, the
Committee may adjust the terms of the Awards granted hereunder to such person (i) to comply with
the laws, rules and regulations of such jurisdiction and (ii) to permit the grant of the Award not
to be a taxable event to the Participant. The authority granted under the previous sentence shall
include the discretion for the Committee to adopt, on behalf of the Company, one or more sub-plans
applicable to separate classes of Eligible Individuals who are subject to the laws of jurisdictions
outside of the United States.

     (g) Satisfaction of Obligations. Subject to applicable law, the Company may apply any cash,
Shares, securities or other consideration received upon exercise or settlement of an Award to any
obligations a Participant owes to the Company and the Subsidiaries in connection with the Plan or
otherwise, including, without limitation, any tax obligations or obligations under a currency
facility established in connection with the Plan.

     (h) No Limitation on Corporate Actions. Nothing contained in the Plan shall be construed to
prevent the Company or any Subsidiary from taking any corporate action, whether or not such action
would have an adverse effect on any Awards made under the Plan. No Participant, beneficiary or
other person shall have any claim against the Company or any Subsidiary as a result of any such
action.

     (i) Unfunded Plan. The Plan is intended to constitute an unfunded plan for incentive
compensation. Prior to the issuance of Shares, cash or other form of payment in connection with an
Award, nothing contained herein shall give any Participant any rights that are greater than those
of a general unsecured creditor of the Company. The Committee may, but is not obligated, to
authorize the creation of trusts or other arrangements to meet the obligations created under the
Plan to deliver Shares with respect to awards hereunder.

     (j) Successors. All obligations of the Company under the Plan with respect to Awards granted
hereunder shall be binding on any successor to the Company, whether the existence of such successor
is the result of a direct or indirect purchase, merger, consolidation, or otherwise, of all or
substantially all of the business and/or assets of the Company.

     (k) Application of Funds. The proceeds received by the Company from the sale of Shares
pursuant to Awards will be used for general corporate purposes.

18

 

     (l) Award Document. In the event of any conflict or inconsistency between the Plan and any
Award Document, the Plan shall govern and the Award Document shall be interpreted to minimize or
eliminate any such conflict or inconsistency.

     (m) Headings. The headings of Sections herein are included solely for convenience of reference
and shall not affect the meaning of any of the provisions of the Plan.

     (n) Severability. If any provision of this Plan is held unenforceable, the remainder of the
Plan shall continue in full force and effect without regard to such unenforceable provision and
shall be applied as though the unenforceable provision were not contained in the Plan.

     (o) Expenses. The costs and expenses of administering the Plan shall be borne by the Company.

     (p) Arbitration. Any dispute, controversy or claim arising out of or relating to the Plan that
cannot be resolved by the Participant on the one hand, and the Company on the other, shall be
submitted to arbitration in the State of New Jersey under the National Rules for the Resolution of
Employment Disputes of the American Arbitration Association; provided, however,
that any such submission by the Participant must be made within one (1) year of the date of the
events giving rise to such dispute, controversy or claim. The determination of the arbitrator shall
be conclusive and binding on the Company and the Participant, and judgment may be entered on the
arbitrator’s award in any court having jurisdiction. The expenses of such arbitration shall be
borne by the Company; provided, however, that each party shall bear its own legal
expenses unless the Participant is the prevailing party, in which case the Company shall promptly
pay or reimburse the Participant for the reasonable legal fees and expenses incurred by the
Participant in connection with such contest or dispute (excluding any fees payable pursuant to a
contingency fee arrangement).

     (q) Governing Law. Except as to matters of federal law, the Plan and all actions taken
thereunder shall be governed by and construed in accordance with the laws of the State of Delaware.

19

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